Cortes update

[Raspy]

I just found this article about Cortes:

https://www.autoevolution.com/news/t...y-164911.html#

[thrifty bill]

1. Still no pictures of a real trailer. Notice the trailer "pictures" in the article above have no side marker lights, no rear lights.

2. Parent company is a penny stock (sells for 20 cents a share), with routine grandiose announcements.

3. Including the parent company, they have a grand total of 41 employees.

4. Stock is down 52% in the last year, while the S & P 500 index is up 39%. Over 5 years, stock is down 86% while S & P is up over 100%.

5. "News" stories on Cortes are actually press releases from the company.

6. Recent announcement (6/7/21) states they are in production, with first units expected to be completed in six weeks. We are closing on that date. So we will see.

7. Auto Evolution, the source of the "news story" above is a known automotive fake news site. From another Auto Evolution story: "UPDATE 2020/02/28: We have to admit, we got taken, too, by this now-confirmed-fake report. Apparently Auto Evolution‘s story was the source of the bogus-ness, and added its own massive exaggeration, writes The Drive."

8. I would love to see another entrant into the fiberglass RV market, so I am hoping they actually deliver product. In the meantime, I would not risk money on it.

9. On a similar note, still waiting for someone to post on taking delivery on a L'Air camper. Those were supposed to be delivered April 2021. Nothing has been posted since April.



https://finance.yahoo.com/quote/USLG/

[thrifty bill]

Six weeks is up. Hopefully this doesn't go the Lil Snoozy path. Stock is down to 18 cents a share, with none trading......

[Defenestrator]

They actually did put up video of the prototype. It looks like it's based on their own molds, which were built using a slightly-modified Casita as the buck rather than designed from scratch. So, they've built one or at least the shell/facade of one. Not sure it's got everything plumbed, vented, and wired.

On the other hand, as Jon Vermilye pointed out in the other Cortes thread, the CEO was just arrested for securities fraud. Not a great sign in terms of business viability.

[Bonnie RB]

First unit has been shipped per this article.
https://www.bizjournals.com/clevelan...ss-camper.html


Jon MB

[thrifty bill]

That news “article” is a company press release. Prior press releases have been fiction.

U S Lighting group, their owner, currently trades as a pink sheet stock for 14 cents a share and has been charged with fraud by the SEC. Check the BBB for some interesting information on US Lighting. Also note the “CEO” who originally announced this trailer has disappeared from this site.

The stock goes through wild swings. I would be cautious reporting any "news" from Cortes.

Want some good reading? Read through this thread originally posted by the CEO of Cortes, Paul Spivak. Also google his name for additional reading.

https://www.fiberglassrv.com/forums/...ers-94798.html

Paul Spivak:

https://www.govinfo.gov/content/pkg/...cr-00491-0.pdf

[ShelbyM]

The "CEO" may have switched to making license plates.