Tritium DCFC Ltd (DCFC) Quote

That is fine to disagree. But the writing is on the wall. The costs and waste in this agenda pushed by governments was a scheme from day one. The gullible don't seem to care for the destruction to third world countries where all the metals are mined that uses child labor to create these volatile batteries that erupt in a plasma fire. Many die in the process. Besides the toxic waste of the batteries that is piling up. No one even buys used EV cars because it is technically and physically impossible to know the life of the cells inside the batteries. You literally would have to open each one and look. Unlike easy tests and inspections on combustion engines. Batteries degrade and diminish in capacity with time whether they are used or not. You can store a combustion engine for a 1,000 years and it will still run as it did prior next time you go to start it. The concept of electric cars was a been there done that model that some Einstein's decided to promote to restrict movement of the populace. They do not go far, and those in control can shut your car OFF at a moments notice if they don't like your beliefs. The cats are out of the bag and the milk is spilled. Enjoy and peace.
P.S. tidbit of info. Gasoline is 100X times more energy dense than Li-ion in equal mass. So which is more efficient? I thought so. And crude oil is infinite and created by the earth deep in the mantel daily. It replenishes and will never run out. It was JD Rockefeller that said it was "fossil fuel". and finite. That was a total lie to make gas expensive and that family $$$. OIL is the next most abundant liquid on this planet next to water. It used to be basically FREE in the 1800's. That is how plentiful it was and still is before this manmade spoken "scarcity" of today.

rbl100, I couldn't disagree more. The following chart shows the share of new cars sold that are EV from 2010 to 2023 in various countries around the world, and indicates a steady increase in adoption of EVs (Source: https://ourworldindata.org/electric-car-sales). Adoption in the US, being an oil rich country, is running a bit behind, while China is already up to 40%, and Norway is already over 80%.

People don't understand yet that EV is a fad. It never was going to flourish and it never will. The physics of requirements along with inefficiency off the scale not to mention practicality and costs besides all the dangers like driving around in a microwave oven which is great for reproductive glands or having a plasma bomb beneath you is utterly ridiculous to think it is any good. They tried electric cars over 100 years ago already. But people forget their history.

Controversial SPAC listing hobbled Tritium
The receivers selling the shell of failed electric vehicle charging company Tritium have blamed its $2 billion listing via the controversial SPAC method for...
.
13 hours ago

https://www.afr.com/technology/controversial-spac-listing-hobbled-tritium-20240424-p5fm7m

It’s still early days, but receivers McGrathNicol are in the process of finding a buyer for Tritium.

Partner Shaun Fraser said a sale process for Tritium’s business and assets had already been under way, and McGrathNicol would engage as a “matter of urgency” with those potential buyers.

“Our immediate focus is to stabilise operations and work closely with Tritium’s employees, customers and suppliers as we attempt to secure the best possible outcome for all parties,” Fraser said in a statement after Tritium’s collapse was announced last week.

Tritium’s rapid rise and spectacular collapse will be a lesson for Labor’s Made in Australia campaign

....In November CEO Jane Hunter said: “While we continue to build on our recently reported financial results, which include achieving record revenue and gross margin, strategic restructuring of our business is necessary to drive both profitability and shareholder value.”

However consolidation in the US and a much vaunted change programme failed to put the company on a path to becoming EBITDA positive.

Most recently it has been fighting NASDAQ to retain its listing which has failed to meet minimum price requirements.

Now it is in financial collapse.

Apr 22, 2024
https://reneweconomy.com.au/tritiums-rapid-rise-and-spectacular-collapse-will-be-a-lesson-for-labors-made-in-australia-campaign/

Who takes over Tritium, the titan house of EV charger manufacturing in Australia?
APRIL 26, 2024
https://www.watoday.com.au/business/companies/who-takes-over-tritium-the-titan-house-of-ev-charger-manufacturing-in-australia-20240422-p5flq4.html

Less than a year after Labor was catapulted into power, Prime Minister Anthony Albanese headed back to Tritium’s headquarters in Brisbane to spruik yet again his government’s key election commitment – a $15 billion National Reconstruction Fund to support the nation’s ailing manufacturing sector.

Walking through the factory during his third visit to the company, vowing to challenge the global dominance of Tesla in electric vehicle charging, Albanese posed for photos with Tritium chief executive Jane Hunter and declared this was the type of Australian business the federal government could get behind.

“This is what one of the world’s fastest electric vehicle chargers looks like,” Albanese tweeted. “It’s the kind of technology we need to make Australia a renewable energy superpower. Businesses like Tritium here in Brisbane need certainty to invest in new tech, new ideas and new jobs.”

By the end of that year, the company was struggling to raise capital from governments or investors, being threatened with delisting from the Nasdaq, and eventually forced to shut down its Brisbane manufacturing plant, laying off 200 staff, to consolidate its operations in the United States as a last-ditch effort to save itself.

After a rapid rise, and at the centre of US President Joe Biden’s electric car revolution, the company’s fall had been equally rapid, culminating in its collapse last week.

“They designed a pretty cool piece of equipment, and they filled what was clearly a significant market gap, and it was growing rapidly,” says Tony Wood, the director of the energy program at the Grattan Institute.

“You look at their growth and their share price, and it was quite dramatic. Maybe they got carried away because when you have a market like that, you need to keep up with it, you need to raise capital because if you don’t, others will step in and eat your lunch.

“It’s the nature of a capitalist market system. It can be very cruel.”

Who fills the significant gap now?
Tritium was viewed as a national success story by state and federal politicians. The company had claimed it was the second-largest producer of charging infrastructure outside China, and owned and operated three-quarters of EV chargers across Australia.

When it moved to the United States in 2021, its future seemed so promising. It listed on the Nasdaq with a $2 billion valuation, built a factory in Lebanon, Tennessee, to produce 30,000 units a year, and employed thousands of local people.

It was building critical infrastructure in a fast-growing industry, and expanding its market, but as high-profile shareholder Brian Flannery lamented before pulling out two months ago, its bloated corporate management structure was stunting profit.

Tritium reported a revenue of $US185 million ($284 million) in the 2022-23 financial year, more than double what it recorded the previous year, but it had failed to make a profit over the past three years.

The collapse of Tritium as a business model will be raked over, but the real question for the rest of us transitioning to a low carbon economy is: how do we grow this critical industry in a nation where EV uptake had for far too long been too low, and what are the lessons from the once titan house of fast-charger manufacturing?

“They had a problem when the proportion of their chargers not functioning was quite high. You’d turn up at a charging facility, and of the four units, two were usually not working. They got a bit of a reputation for not being reliable, but they still had that market share, so I don’t know who’s going to step into that.”

There are now more than 180,000 EVs on Australian roads, a figure that has doubled since 2022, but represents less than 1 per cent of the total passenger vehicle fleet.

A Deloitte report, EV charging infrastructure – the next frontier, published in January, notes the uptake of EVs is projected to increase from 8.4 per cent of all new passenger vehicle sales in 2023 to 43 per cent by 2033.

To service that demand, Australia will need an eightfold increase on current public charging capacity, which means installing, on average, eight new public chargers every day for the next nine years.

It is one of the reasons why NSW and Victoria last year scrapped $3000 subsidies for drivers who buy new EVs and redirected some of the savings to roll out more charging stations in public spaces.

University of Melbourne chair in management Daniel Samson is confident EV charging infrastructure will continue to grow in Australia, but he hopes this industry will be far better supported than car manufacturing, which disappeared from the nation’s shores seven years ago.

“For far too long, Australia has had almost no industrial policy to speak of in which we positively helped catalyse sufficient industries to start up … so personally, I really welcome the idea of us having a business plan and a Future Made in Australia approach,” Samson says.

“And the other thing the government can do about EV charging is try to establish some standards so that rather than have a whole bunch of EV charging systems and approaches, if we can have some standards that manufacturers realise their equipment needs to fit, then that will reduce some of the risk.”

It’s still early days, but receivers McGrathNicol are in the process of finding a buyer for Tritium.

Partner Shaun Fraser said a sale process for Tritium’s business and assets had already been under way, and McGrathNicol would engage as a “matter of urgency” with those potential buyers.

“Our immediate focus is to stabilise operations and work closely with Tritium’s employees, customers and suppliers as we attempt to secure the best possible outcome for all parties,” Fraser said in a statement after Tritium’s collapse was announced last week.

Bjorn Sturmberg is a senior research fellow at the Australian National University and his work focuses on electric vehicles and general grid integration of green techs. The collapse of Tritium is a significant loss, he says, but it should not detract from the quality of Australian innovation.

It is more important than ever to continue turbocharging this industry.

“They had three-quarters of the market share in fast chargers so in that case it is calling into question the availability of parts and serving those – it’s a serious hit,” Sturmberg says.

“But I would kind of balance that off with [the fact that] the vast majority of the cost of fast-charging stations goes into the engineering, work of finding a site, developing a site, civil works, upgrades you need to make. So even for sites that may have a Tritium charger end up being uninstalled, it’s not the end of the world, and it’s still an imperative we have lots of charging stations deployed.”

This week, Stockland announced it was joining forces with Ampol to roll out one of the biggest Australian shopping centre networks fast EV charging stations. The ASX-listed fuel supplier is aiming to become one of Australia’s leading EV charging networks.

Tritium’s collapse won’t sound the death knell for clean technology manufacturing in Australia, and while most experts agree it has only highlighted how imperative it is for the nation to power an industry that is critical to a net zero future, others are wondering whether we can ever keep up with the EV titan, China.

$DCFCQ This is the email address shareholders are supposed to use for inquiries.

tritiumshareholders@kpmg.com.au

Duh, whats it say....

EV charger manufacturer Tritium declares insolvency

Posted April 22, 2024
https://chargedevs.com/newswire/ev-charger-manufacturer-tritium-declares-insolvency/
The directors of Australian fast charger manufacturer Tritium have declared the company as well as three of its Australian subsidiaries—Tritium, Tritium Holdings and Tritium Nominee—insolvent and called in voluntary administration, according to a statement filed to the US Securities and Exchange Commission (SEC).

“The Company’s other subsidiaries will continue to operate outside the voluntary administration,” the SEC filing stated.

The company stated on April 11 that it had received a warning from the Nasdaq stock exchange in New York where its shares were listed that it no longer met the requirements to retain its listing.

Lenders have appointed a receiver to take control of the company’s assets and seek buyers.

Inside the rise and fall of EV player Tritium

Apr 21, 2024
https://www.afr.com/companies/energy/inside-the-rise-and-fall-of-ev-player-tritium-20240419-p5flaf

Tritium segment starts at minute 8 into the video.

2024 Mitsubishi Triton driven, Aussie EV Chargers dead & new Kia Ute details | The CarExpert Podcast

CarExpert
442K subscribers
Posted Apr 22, 2024

Marketplace journalist Josh Nevett joins the CarExpert Podcast this week as they discuss some new details about the upcoming Kia Tasman ute, the downfall of Aussie company Tritium and what it means for local EV chargers and they guys give their thoughts on the new Mitsubishi Triton now everyone in the office has driven it.

Welcome to the CarExpert Podcast – now in video! Host Sean Lander is joined by resident CarExperts Scott Collie and James Wong to chat the latest in automotive news and reviews.

Tritium story: https://www.carexpert.com.au/car-news/australian-ev-charging-manufacturer-tritium-goes-into-administration

Yeah I kind of got blindsided by this one like many 😖
Win some lose some ........... lol this one really sucked for some reason.

Tritium ‘s rapid rise and collapse is over – goes in to administration

19 April 2024
https://www.aumanufacturing.com.au/tritium-s-rapid-rise-and-collapse-is-over-goes-in-to-administration

Communists theatrical performance.

Good luck with that. It's all theft in my book. Cheers to the horror show , may it bring better daze.

My last loser said, I am waiting for a Joker buyout.

The banker/loanshark shorted stock into insolvency.

Buyout / Partnership on deck.

Tritium administrators chasing buyers for EV charging venture

Embattled Australian electric vehicle fast-charger company Tritium is on the lookout for buyers after its directors declared the company to be insolvent and called in administrators.

April 22, 2024
https://www.pv-magazine-australia.com/2024/04/22/tritium-administrators-chasing-buyers-for-ev-charging-venture/

A meeting of creditor’s must be held by April 26, by which time further details of its financial situation and its creditors list may be known.

“Not enough capital:” EV fast charger pioneer Tritium collapses, receivers to seek buyers
Apr 19, 2024
https://reneweconomy.com.au/ev-fast-charger-pioneer-tritium-calls-in-administrators-after-declaring-itself-to-be-insolvent/

“A sale process for Tritium’s business and assets was underway prior to our appointment and we will be re-engaging as a matter of urgency with interested parties and the broader market to seek to find long-term capital,” Mr Fraser said.

Australian EV charging manufacturer Tritium goes into administration
19 April 2024, 3:24pm
https://www.carexpert.com.au/car-news/australian-ev-charging-manufacturer-tritium-goes-into-administration

Market Cap 1.36M

Income -121.37M

Sales 184.54M

Shs Outstand 1.01M

Shs Float 0.74M

Perf Week -67.78%

Perf Month -90.62%

Perf Quarter -95.21%

Perf Year -99.38%

DCFC changed to DCFCQ, bankruptcy. Delisted from the Nasdaq to the OTC: ***stock dropped 63 % from $3.64 to $1.35 on 383,294 volume.

https://otce.finra.org/otce/dailyList?viewType=Additions

1.35 with .87 low

Amazing this trades on a big exchange

BYD, more important question is why did someone yesterday at 7am bought 2/3 of the company's shares just a few hours before being halted?

Good riddance to the short ! Halted up to 25 days they say. Bring on an Ionna contracts partnership.

Near mid May for Ionna expected news updates and May Tritium be mentioned.

11:56 AM
$DCFC who bought all those shares at 7am that amounted to 2/3 of the company's shares in about an hour?

On April 18, 2024, by resolutions of their boards, it was determined that the Company and three of its Australian subsidiaries, Tritium Pty Ltd, Tritium Holdings Pty Ltd and Tritium Nominee Pty Ltd (together with the Company, the “VA Companies”) (i) were insolvent or likely to become insolvent; (ii) a voluntary - administrator should be appointed under the Australian Corporations Act 2001 (the “Act”), and (iii) to appoint Peter James Gothard, James Douglas Dampney and William Martin Colwell of KPMG as joint and several administrators (referred to hereinafter in the singular as “Administrator”) pursuant to section 436A of the Act.



As a result of the Administrator’s appointment, the powers of the directors of the VA Companies are suspended and the Administrator takes control of the affairs of the VA Companies subject to the appointment. The Company’s other subsidiaries will continue to operate outside the voluntary administration.



Pursuant to section 437F of the Act, a transfer of shares in the Company during the voluntary administration is void, except with the written consent of the Administrator or if approved by a court with jurisdiction under the Act.







SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Tritium DCFC Limited

Date: April 18, 2024 By: /s/ Jane Hunter
Jane Hunter
Chief Executive Officer

FORM 6-K
https://investors.tritiumcharging.com/node/8736/html

What an absolute shit-show here.

I traded the warrants several times Oct 21 - May 22. Visited the facility when I was in Australia way back then as well.

I stopped paying attention when the warrants broke down that year, but was reminded when going thru some old trading spreadsheets during tax prep.

Too bad, so sad. I thought these guys could be winners... guess not.

GLTA

This is where the cowboy rides away lol

NOT GOOD NEWS https://investors.tritiumcharging.com/sec-filings/sec-filing/6-k/0001104659-24-048646

$dcfc $DCFC: Form 6K.. On April 18, 2024, by resolutions of their boards, it was determined that the Company and three of its Australian subsidiaries, Tritium Pty Ltd, Tritium Holdings Pty Ltd and Tritium Nominee Pty Ltd (together with the Company, the “VA Companies”) (i) were…— TradeXchange (@TheTradeXchange) April 18, 2024

Halt code is T1 - news pending

Trading halt.

This is a start up could take five years to get recognition. Possible 50.00 long term. Hold for company news. See you next year. Dream to reality stock let's not bankrupt it just yet

Well I am still waiting.

Whoops in the Top 10
https://ih.advfn.com/markets/nasdaq/premarket

I also am very sorry to hear that JP. This company will indeed be heading for
a class action lawsuit. The BOD's and ALL management need to be held accountable.

This damn thing is trading at less than 2 freaking cents pre-split and heading lower.

What a damn shame - this was robbery.

Again so so sorry JP.

JP, sorry to hear that. Thanks for sharing. Best of luck.

I'm out. I bought this when it IPO"d. Added all the way down. I am down 113 K. I will never recoup this loss. This was my inheritance money from my Mom and Dad. I'm ashamed I let it go this far. But I kept hoping for a comeback. When they did the reverse split at 200 to 1. That wiped Me, and all of us out. Can you imagine having 80,000 shares, turn into 400.
I remember reading a quote from St Baker, he said I don't care about the environment, I'm a businessman I care about making money. That was a red flag and I ignored it.

Yesterday 2:52 PM $DCFC No 1 scam in Naadaq history

Yesterday 3:29 PM
$DCFC They refuse announce earnings & ignored Nasdaq non-compliance issue

DCFC new 52 lo

Wait til the dilution hits - which should be any time.
They weren't too smart with the 1 for 200 reverse split taking
the share count too low - (but they had the plan to dilute in mind)
and got the SEC call out. This is going to be in the pennies again
soon enough - total shit management - unreal they are still at the helm.

This price is below 2 cents per share at the moment pre-reverse split.

This company is on it's last leg.

This is trading like a defunct penny stock.
There will be no bottom or buyers of debt shares until management comes regulatory with NASDAQ requirements to filings. Otc markets require quarterly financials I think. No respect coming from management to update companies progress to public share holders. pps pure madness until company comes compliant with filings.

If current management isn't voted out - TOILET TIME

This stock/company has been an utter disaster - I've been in and out
many times - never made a damn nickel. But, at least I got the hell out
before the final disaster. The entire management and BOD's needs
replaced. What a freaking mess they have made of the company.

Sad day

14m $DCFC Submit your narratives and complaints to the SEC before they go private. https://www.sec.gov/tcr

..... where all that stock is coming from?

6 hours ago I am planning to write to the Australian PM's office regarding the issue with this company. I wonder whether the company has violated any financial regulations there too., This CEO should be behind bars.

6 hours ago
almost 6 times average volume! I wonder where all that stock is coming from?

8 April, 2024
WOW! The silence of these monsters not to say anything speaks volumes about their lack of ethics. I’m sure their well paid attorneys stock gamblers paid for have earned them to keep it zipped!

8 April, 2024

i try to contact the headquarter but no respond what so ever this is insane>>> i think some legal action HAS TO TAKE AGAINST THIS FRAUD COMPANY ANY THOUGHTS ?

8 April, 2024
I think my horse died lol....my 1900 shares turned into 10 and down 93.5% so got a value of 66 bucks. This is where the cowboy rides away lol

8 April, 2024
my biggest disappointment in all this is NASDAQ. every thing has been done in secret away from stockholders and they supported the company by allowing relisting. now it has been done and no word from the company or nasdaq. Both are guilty of shareholder rights violations.

7 April, 2024
In word. Obviously not in action. Either they are incredibly inept or blatantly stupid. I’m betting a bit of both. Hopefully, we’ll know as soon as the criminal lawsuits begin.


Aussi Mafia was happy with old shares between 2-3 cents a share = 200/1 reverse split. No Earnings, changed the date from March 7 seven times to no date for earnings today.
The question I have today, Who owns the company now?

I thought they were on the for front leading this adventure.

Apparently NOT.

An engineered society, this is my social....

" If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around (these banks) will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."

~Thomas Jefferson


...Oh, Clown world!!!

6:37 PM $DCFC SEC should investigate this scam. Crooked CEO and management keep quiet for months with no earnings date. I believe they are shorting and deliberately announce 200:1 R/S three weeks in advance to give them plenty of time to short the stock. They know the NASDAQ rules, and they are challenging the law. Ruthless bloodsucking they are.

7:17 PM
$DCFC I dare these clowns management declare bankruptcy or drop market cap to $0 by not report earnings to SEC.