“Under a deal reached in November 2020, Canoo reimburses Aquila Family Ventures, an entity owned by the CEO, for use of an aircraft.”
Canoo brought in $886,000 in 2023 from 22 vehicles and lost $302.6 million. It paid CEO Tony Aquila’s family company $1.7 million for the jet, double its revenue. That same entity collected another $1.7 million for “shared services” at the Texas office. The going concern warning has been in the filings since 2022, and the cash still finds its way to the boss.