Alta Motors v2.0 restart attempt

[Philip]

Greetings, Alta Owners!

We were finally able to reach the potential buyer who wants to revive Alta Motors and continue building motorcycles. An all-around awesome guy and a true motorcycle enthusiast.

He is looking for investors. Here is a message from him:

"Concerned owners have an opportunity to invest in the new company. Several riders have already committed 5-7 figure checks. $1-5 million aggregate investment from Alta owners would send a strong signal to professional investors waiting on the sidelines. If we're successful, these owner-investors will have conjured up a major turning point in the likely outcome.

But time is short. If interested, please connect with me directly for more information."

This story has played out on 2-wheels before.

To connect with him, please send me a PM with a short explanation of how you could help, and your contact information. I will get you in touch.

Thank you,

Philip-the-Admin

 

[Butch]

Enthusiast held company? Awesome. I’ll go see what is in the cookie jar.

 

[snydes]

Unique opportunity for a resourceful group of owners!

 

[privateer703]

Would this be a good use for something like indiegogo? I feel like there could be additional investment funds from those would be owners that were thinking about buying before the collapse. 1-5 million feels like a stretch if it's only the 1000 or so out there. It would be interesting at the very least to start a poll about it. If we are ALL willing to donate $1000 or more, maybe we could get there.

 

[Philip]

More from this buyer/investor:

"Owners may invest, but we are not accepting donations at this time - this isn't a charity. We're starting a new company engineered to generate (rather than consume) cash. The former assets (and therefore Redshift) may or may not be part of that story, depending on timing constraints and capital availability.

A Redshift owner would be buying ownership at a share price discounted to the first priced equity financing. KickStarter, IndieGoGo, GoFundMe, etc. have been considered, but we believe it would yield <$1 million on a timeline we don't have, due to the education process. However, investment from impassioned owners sends a message. We have an opportunity to see Redshift live beyond the death of Faster Faster Inc.

There is a broader opportunity for more bikes of a wider range. We can improve the Redshift platform by fixing a few issues and cascading wins on the dirt to more street-oriented alternatives (think KTM). We can go smaller and more playful (think Honda). We may consider going bigger too, as assets become available to fill in the gaps (don't think about everyone who's died trying - we know). But the fastest - and cheapest, due to money value of time - way to move forward is maintain as much momentum from OldCo as possible.

The middle three billion people on earth use a powered two wheel vehicle as family car, truck and minivan - sometimes containing three people, a hundred chickens and a goat. Narrow transit isn't foreign in Europe. Doing it well from North America will require levels of safety (through performance and control) not yet seen on two wheels.

It's a Goldilocks problem. Uber/Lyft aren't 'good.' This madness is unsustainable. Do y'all aspire to own the latest Zero, or have the scratch to both afford LiveWire and the desire to buy half the bike for twice the price simply because it sounds like a tie fighter?

We'd love for more electric options to be available, but the Redshift was the only competitor to have surpassed gas bikes on metrics that matter (i.e., safety, control and lap times). That's super impressive, considering the Tesla Roadster never came close to surpassing gas equivalents on any metric beyond subjective 'fun.' Objectively, the Redshift could still be the quickest 0-60 mph production motorcycle ever built.

Owners should consider investing if they believe as we do - there is unfinished business here. We crashed, we lost, but we're not done. As owners know, bikes are like horses. We'll go again, undaunted, if you will.

We ride Redshift because it's better - If (and only if) Alta lives on, a critical mass may follow."

 

[Tuner]

More from this buyer/investor:

"Owners may invest, but we are not accepting donations at this time - this isn't a charity. We're starting a new company engineered to generate (rather than consume) cash. The former assets (and therefore Redshift) may or may not be part of that story, depending on timing constraints and capital availability.

A Redshift owner would be buying ownership at a share price discounted to the first priced equity financing. KickStarter, IndieGoGo, GoFundMe, etc. have been considered, but we believe it would yield <$1 million on a timeline we don't have, due to the education process. However, investment from impassioned owners sends a message. We have an opportunity to see Redshift live beyond the death of Faster Faster Inc.

There is a broader opportunity for more bikes of a wider range. We can improve the Redshift platform by fixing a few issues and cascading wins on the dirt to more street-oriented alternatives (think KTM). We can go smaller and more playful (think Honda). We may consider going bigger too, as assets become available to fill in the gaps (don't think about everyone who's died trying - we know). But the fastest - and cheapest, due to money value of time - way to move forward is maintain as much momentum from OldCo as possible.

The middle three billion people on earth use a powered two wheel vehicle as family car, truck and minivan - sometimes containing three people, a hundred chickens and a goat. Narrow transit isn't foreign in Europe. Doing it well from North America will require levels of safety (through performance and control) not yet seen on two wheels.

It's a Goldilocks problem. Uber/Lyft aren't 'good.' This madness is unsustainable. Do y'all aspire to own the latest Zero, or have the scratch to both afford LiveWire and the desire to buy half the bike for twice the price simply because it sounds like a tie fighter?

We'd love for more electric options to be available, but the Redshift was the only competitor to have surpassed gas bikes on metrics that matter (i.e., safety, control and lap times). That's super impressive, considering the Tesla Roadster never came close to surpassing gas equivalents on any metric beyond subjective 'fun.' Objectively, the Redshift could still be the quickest 0-60 mph production motorcycle ever built.

Owners should consider investing if they believe as we do - there is unfinished business here. We crashed, we lost, but we're not done. As owners know, bikes are like horses. We'll go again, undaunted, if you will.

We ride Redshift because it's better - If (and only if) Alta lives on, a critical mass may follow."

This is the real deal and possibly the last line of defense regarding Alta's potential survival.

 

[Dolphinpeople]

I am highly interested.
I really hope this pushes a continuation of the redshirt platform.

 

[Sumik]

Where can I get information about the insolvence process of Alta Motors? I would very much like to see a company continuing the production and development of these exciting bikes but don't think it's a good idea to start the process from zero. If, than buying the whole development which has been done until now and continue. What I want to say is - I'm ready to invest. To do so I need information what from the "old Alta Motors company" is available for sale.

 

[bluefxstc]

Highly interested and love the bike, but this is an investment so I would need to see the business plan to understand what I am investing in, and what the plan is to make Alta Motors a profitable business with a future. I am not interested in investing money just to have Alta collapse again.

 

[Jon]

It sounds like a PM to Philip is how to get more info (like the business plan, etc). I don't think they are looking for blank checks...

 

[Philip]

We have vented a lot of old Alta's dirty laundry on this forum already in the BAD NEWS thread. No need to do it again here.

This thread is to look for potential 5-7 figure investors.

The exact new business plan will be based on the available resources, and on the future vision of the largest investors that come forward.

If you can afford to invest, or can provide any other help critical to the livelihood of the company, please PM me your contact (name, email, phone number) into and how you can help.

 

[Philip]

An important clarification: Folks need to be accredited investors.

Smaller investors can invest through crowdfunding platforms, but it appears that the timeline does not allow this at the present moment.

 

[Matt Sanders]

Hope this works out. I missss my Alta.

 

[Mark911]

So, is he using this opportunity to select specific "more affluent" (which is all you really need to be) individuals and, including himself, form an investment group where he's the representative among other current VCs? Or, is he just testing the waters to see if he can bring other investors to the same negotiating table alongside him?

 

[Philip]

No, he is not gathering an investment club here. If you can invest more than others, you will own directly and proportionately more of the new company. And if you can convince other investors to follow you, you can name yourself a CEO and Chairman of the Board.

 

[TonyWilliams]

I spent 2 hours and 45 minutes on the phone with this potential buyer this afternoon. While our paths have never physically crossed, we clearly know many shared acquaintances in this small industry of Electric Vehicles. I plan to fly up to the San Francisco Bay Area in the coming days to chat more.

I want to perfectly clear... this proposal is not a half baked idea, and many of the facets have been thought through. There is a lot to work out, but I’m convinced that this may be the only chance to see this Alta thing continue in its present state, and possibly move to bigger and better things.

The odds are long, to be sure, but the short term general plan is very strong, and viable. Millions of dollars need to be raised, and while that may appear daunting, that’s not really the biggest challenge.

I hope I can encourage those of you with available investment cash to step forward. I am happy to talk to anybody who needs encouragement. I’m easy to find during business hours at:

+1-844-EV-PARTS

+1-760-798-0342

 

[No.73]

Faster Faster died October 19th, 2018.

Rather than rehash the history in gory detail, let me offer the best eulogy I've heard, in the words of one of the co-founders. The celebratory moment here is in Alta as a brand and the Redshift product platform. Let's find a way to preserve them, if we can.

I propose we engineer a new enterprise to ensure cash flow, thereby controlling our own destiny. To do that, we need $4 million by March 1st to purchase the assets and provide a thin equity buffer. We would then raise additional capital and expand our team within our modest means.

Cash flow requires selling 1,000 motorcycles in 2019 and 2,000 in 2020, the difference being driven by the liquidation of existing inventory. After that, we could grow organically. Or, we may take non-dilutive or low cost capital to accelerate progress.

Teams I've led have done more with less on tighter timelines, but not on two wheels. Riding since 10, 15 countries on two wheels - I've been looking for a way to win in this space for a decade. There is a narrow opportunity to do it with Alta at high velocity and potential impact, because the Redshift already wins. Yes, it can be improved as we go. My plan is imperfect, might be good enough to start, and could certainly be better with your input.

If you were to invest, you'd be buying ownership in the company (i.e., a share of future profits). Founders create, owners earn, managers manage, employees work - all with aligned incentives as partial owners, proportional to future value. No, you cannot buy a dictatorship as that's not how high functioning companies work. The team needs to be engineered for the inevitable Type III Fun. To participate, an individual must be an accredited investor, whereas investment firms are qualified by definition.

I have three requests of this impassioned community:
(1) Please continue to PM Philip with interest - he created this community, knows it best and it's only because of him I have an audience
(2) Please help me keep things professional and organized - I respect each of you, but we can't afford posturing or politics right now
(3) Kindly maintain my anonymity in public forum - self-PR would distract from the mission at hand (not "me" anyway)

Thank you all for your interest, and to Philip in particular for tracking me down and facilitating thus far.

Rubber side down.

 

[datadog]

Faster Faster died October 19th, 2018.

Rather than rehash the history in gory detail, let me offer the best eulogy I've heard, in the words of one of the co-founders. The celebratory moment here is in Alta as a brand and the Redshift product platform. Let's find a way to preserve them, if we can.

I propose we engineer a new enterprise to ensure cash flow, thereby controlling our own destiny. To do that, we need $4 million by March 1st to purchase the assets and provide a thin equity buffer. We would then raise additional capital and expand our team within our modest means.

Cash flow requires selling 1,000 motorcycles in 2019 and 2,000 in 2020, the difference being driven by the liquidation of existing inventory. After that, we could grow organically. Or, we may take non-dilutive or low cost capital to accelerate progress.

Teams I've led have done more with less on tighter timelines, but not on two wheels. Riding since 10, 15 countries on two wheels - I've been looking for a way to win in this space for a decade. There is a narrow opportunity to do it with Alta at high velocity and potential impact, because the Redshift already wins. Yes, it can be improved as we go. My plan is imperfect, might be good enough to start, and could certainly be better with your input.

If you were to invest, you'd be buying ownership in the company (i.e., a share of future profits). Founders create, owners earn, managers manage, employees work - all with aligned incentives as partial owners, proportional to future value. No, you cannot buy a dictatorship as that's not how high functioning companies work. The team needs to be engineered for the inevitable Type III Fun. To participate, an individual must be an accredited investor, whereas investment firms are qualified by definition.

I have three requests of this impassioned community:
(1) Please continue to PM Philip with interest - he created this community, knows it best and it's only because of him I have an audience
(2) Please help me keep things professional and organized - I respect each of you, but we can't afford posturing or politics right now
(3) Kindly maintain my anonymity in public forum - self-PR would distract from the mission at hand (not "me" anyway)

Thank you all for your interest, and to Philip in particular for tracking me down and facilitating thus far.

Rubber side down.

You need to unveil yourself. Those of us who formerly worked there are tired of getting screwed by blind investors.

I know who you are. The rest need to know.

 

[No.73]

Happily.

I'll give you a ring when the company is in a position to hire employees and has prioritized the gaps to fill. Right now, there is no need to stir up hope or carnage unnecessarily. Philip has been documenting non-financial support and interest as well, but it's simply not relevant until we're going. Share your details with him and how you'd like to help in the future. While I lament your experience, I won't compound it by promising you anything now.

To be clear, I was never an investor in the old company. I’m a founder of a NewCo that aspires to buy the OldCo assets. This is not a reboot of Faster Faster (see eulogy above). This opportunity is a clean sheet new company, starting with the limited acquirable momentum that remains.

There is risk. We may not even have sufficient capital in time to acquire the assets necessary to support Redshift. We may need to leave Alta as a brand behind, if the tone continues to spiral down. We'll repeat our failures if we take the liabilities and scar tissue too. Please, let’s not confuse old with new - I had nothing to do with it.

To repeat, priority one is to get going and leave the drama behind; otherwise, what’s left will likely rot.

You can help us or hurt us - the choice is yours.

 

[CookieMonster]

Does anyone know why Alta went out of business? All indications seem that they should have succeeded.