Worksport Ltd. designs and distributes pickup truck covers called tonneau covers throughout the United States and Canada. The firm assists businesses by acquiring investment capital for continued growth and expansion while providing business development and marketing strategies, and offers its services in the United States and Canada. The company was founded on April 2, 2003 and is headquartered in Vaughan, Canada.
Company profile
Ticker
WKSP
Exchange
Website
CEO
Steven Rossi
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Icahn Enterprises • Magna International • Aptiv • Adient • Autoliv • BorgWarner • Visteon • Dana • Allison Transmission • PHINIA ...
Former names
Worksport, Ltd, Franchise Holdings International, Inc., TMANGLOBAL COM INC
SEC CIK
Corporate docs
Subsidiaries
Worksport USA Operations Corporation • Worksport New York Operations Corporation • Terravis Energy, Inc. ...
IRS number
650782227
WKSP stock data
Latest filings (excl ownership)
8-K
Worksport Signals Undervalued Status, Eyes Major 2024 Growth
25 Apr 24
8-K
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
23 Apr 24
EFFECT
Notice of effectiveness
9 Apr 24
DEF 14C
Information statement
8 Apr 24
S-1
IPO registration
2 Apr 24
D
$2.85 mm in options, sold $2.85 mm, 1 investor
28 Mar 24
10-K
2023 FY
Annual report
28 Mar 24
PRE 14C
Preliminary information
28 Mar 24
8-K
Entry into a Material Definitive Agreement
20 Mar 24
424B5
Prospectus supplement for primary offering
19 Mar 24
Latest ownership filings
SC 13G
SCOGGIN MANAGEMENT LP
18 Mar 24
SC 13G
ARMISTICE CAPITAL, LLC
14 Feb 24
4
William J Caragol
24 Jul 23
4
Steven F. Rossi
24 Jul 23
4
NED L SIEGEL
24 Jul 23
4
Craig William Loverock
24 Jul 23
SC 13G
van de Wiel Wesley
14 Jul 23
4
Steven F. Rossi
3 May 23
4
William J Caragol
1 Feb 23
4
NED L SIEGEL
1 Feb 23
Financial summary
Quarter (USD) | Sep 23 | Jun 23 | Mar 23 | Dec 22 | |
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Diluted EPS |
Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
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Cost of revenue | |||||
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Diluted EPS |
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 |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 2.97 mm | 2.97 mm | 2.97 mm | 2.97 mm | 2.97 mm | 2.97 mm |
Cash burn (monthly) | 978.89 k | 1.19 mm | 1.31 mm | 1.24 mm | 725.21 k | 817.56 k |
Cash used (since last report) | 6.75 mm | 8.23 mm | 9.01 mm | 8.57 mm | 5.00 mm | 5.64 mm |
Cash remaining | -3.79 mm | -5.26 mm | -6.05 mm | -5.61 mm | -2.04 mm | -2.67 mm |
Runway (months of cash) | -3.9 | -4.4 | -4.6 | -4.5 | -2.8 | -3.3 |
Institutional ownership, Q3 2023
3.6% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 7 |
Opened positions | 6 |
Closed positions | 19 |
Increased positions | 0 |
Reduced positions | 1 |
13F shares | Current |
---|---|
Total value | 210.79 mm |
Total shares | 878.96 k |
Total puts | 0.00 |
Total calls | 0.00 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
Murchinson | 356.32 k | $80.17 mm |
Fund Management B.V. Privium | 214.87 k | $53.70 mm |
CVI | 93.45 k | $23.36 mm |
Ayrton Capital | 86.02 k | $21.50 mm |
Warberg Asset Management | 78.29 k | $19.57 mm |
Cruiser Capital Advisors | 50.00 k | $12.50 mm |
UBS UBS Group AG - Registered Shares | 13.00 | $3.00 k |
Proequities | 0.00 | $0.00 |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
21 Jul 23 | Caragol William J | Option Common Stock | Grant | Acquire A | No | No | 3.61 | 7,500 | 27.08 k | 7,500 |
21 Jul 23 | Rossi Steven F. | Option Common Stock | Grant | Acquire A | No | No | 3.61 | 50,000 | 180.50 k | 50,000 |
21 Jul 23 | Siegel Ned L | Option Common Stock | Grant | Acquire A | No | No | 3.61 | 7,500 | 27.08 k | 7,500 |
21 Jul 23 | Craig William Loverock | Option Common Stock | Grant | Acquire A | No | No | 3.61 | 7,500 | 27.08 k | 7,500 |
1 May 23 | Rossi Steven F. | NQSO Common Stock | Grant | Acquire A | No | No | 1.74 | 2,000,000 | 3.48 mm | 2,000,000 |
1 May 23 | Rossi Steven F. | RSU Common Stock | Other | Dispose J | No | No | 0 | 1,600,000 | 0.00 | 0 |
1 May 23 | Rossi Steven F. | Performance Stock Unit ("PSU") Common Stock | Other | Dispose J | No | No | 0 | 400,000 | 0.00 | 0 |
News
12 Consumer Discretionary Stocks Moving In Friday's Pre-Market Session
26 Apr 24
Tesla And Worksport Show Innovation Could Be The Salvation The EV Industry Needs Right Now
25 Apr 24
Worksport Issues Company Memo, Signals Undervalued Status, Eyes Major 2024 Growth
25 Apr 24
12 Consumer Discretionary Stocks Moving In Wednesday's After-Market Session
10 Apr 24
Hyundai And Kia To Boost Their Competitiveness In India
8 Apr 24
Press releases
WORKSPORT ANNOUNCES RECEIPT OF SOLAR PANELS REQUIRED TO BEGIN PRODUCTION OF HIGHLY ANTICIPATED SOLIS SOLAR TONNEAU COVER
28 Mar 24
Worksport Set to Launch Innovative SOLIS & COR System This Summer, Providing Options for Partnerships with Tesla, GM, and Ford.
7 Mar 24
Worksport Set to Launch Innovative SOLIS & COR System This Summer, Providing Options for Partnerships with Tesla, GM, and Ford.
6 Mar 24
Worksport Ltd. Announces New Distribution Partnership with Dix Performance North to Expand Presence Across Canada
23 Feb 24
Worksport Completes Production of First 1,100 AL3PRO Hard folding Covers compatible with Ford, General Motors, Stellantis, Nissan, and Toyota Trucks
13 Feb 24