Risky Risky Buy.

• Potential loss of all investment & easy to manipulate.

Damon Inc. (NASDAQ: DMN)

Damon Inc., headquartered in Vancouver, Canada, has garnered attention for its innovative electric motorcycles, notably the HyperSport and HyperFighter models. These bikes are designed to deliver up to 200 horsepower, 200 mph top speed, and 200 miles of range, featuring proprietary technologies like the HyperDrive™ powertrain and CoPilot™ safety system.

Despite securing over $100 million in refundable reservations from more than 3,000 customers, Damon has yet to commence mass production or deliver motorcycles to consumers. As of late 2024, the company reported that its vehicle mechanics and power electronics were 90% complete, with battery system development at 70%. The production roadmap outlines plans to build and test pre-production prototypes by the end of 2025, aiming to start full-scale manufacturing in 2026 at its San Rafael, California facility, contingent upon securing adequate funding and meeting regulatory requirements.

Financially, Damon Inc.’s stock has experienced significant volatility. As of April 15, 2025, shares are trading at approximately $0.0038, a steep decline from its 52-week high of $4.95. The company recently raised $16.5 million through a public offering to support its development and expansion efforts.

However, the company faces compliance challenges with the Nasdaq Stock Market. On January 7, 2025, Damon received a notice from Nasdaq indicating that its Market Value of Listed Securities (MVLS) had fallen below the $50 million minimum required for continued listing on the Nasdaq Global Market for 30 consecutive business days. The company has until July 7, 2025, to regain compliance by maintaining an MVLS of at least $50 million for a minimum of 10 consecutive business days. 

Additionally, on January 22, 2025, Damon received another notice from Nasdaq stating that its common shares had not maintained the minimum closing bid price of $1.00 per share over the preceding 30 business days. The company has until July 21, 2025, to regain compliance by achieving a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days. 

Damon Inc. is scheduled to present at the Planet Microcap Showcase in Las Vegas on April 23, 2025, which may provide further insights into its strategic direction and efforts to address these compliance issues.