Motos America Inc. (WECT-OTCBB) is a premium European motorcycle dealership consolidation company. In Nov. 2021, the company changed its name from “Weconnect Tech International, Inc.” to “Motos America Inc.” When it changed its name, the company adopted a new business model. Motos America purchases and operates powersports dealerships, with an emphasis on European luxury motorcycle brands, including BMW Motorcycles, Triumph Motorcycles and Ducati Motorcycles. The company believes the motorcycle dealership industry is primed for consolidation, similar to what has occurred in the automotive industry. Motos America believes that consolidation in this niche will bring about the same advantages of scale associated with automotive dealer group consolidations. Namely, better operating results driven by professional management, branding and marketing opportunities, and volume purchasing.
Company profile
Ticker
MTAM
Exchange
CEO
Shiong Han Wee
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
WECONNECT Tech International, Inc., Contact Minerals Corp.
SEC CIK
Corporate docs
Subsidiaries
AMENDED ANNUAL REPORT Corporation ...
MTAM stock data
Latest filings (excl ownership)
8-K
Motos America Expands Dealership Network with 5 New Management Agreements
21 Mar 24
8-K
Changes in Registrant's Certifying Accountant
28 Feb 24
DEF 14C
Information statement
19 Oct 23
10-Q
2022 Q2
Quarterly report
11 Sep 23
D/A
$14.21 mm in debt / options, sold $192.00 k, 2 investors
23 May 23
D
$14.21 mm in debt / options, sold $192.00 k, 2 investors
16 May 23
10-K
2022 FY
Annual report
8 May 23
8-K
Changes in Registrant's Certifying Accountant
13 Apr 23
NT 10-Q
Notice of late quarterly filing
14 Mar 23
NT 10-K
Notice of late annual filing
2 Nov 22
Latest ownership filings
Financial summary
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Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
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Cash on hand (at last report) | 1.09 mm | 1.09 mm | 1.09 mm | 1.09 mm | 1.09 mm | 1.09 mm |
Cash burn (monthly) | 249.84 k | (no burn) | 436.09 k | (no burn) | 360.18 k | 147.29 k |
Cash used (since last report) | 5.20 mm | n/a | 9.08 mm | n/a | 7.50 mm | 3.07 mm |
Cash remaining | -4.11 mm | n/a | -7.99 mm | n/a | -6.41 mm | -1.98 mm |
Runway (months of cash) | -16.5 | n/a | -18.3 | n/a | -17.8 | -13.4 |