First thing first. Why we're still selling while we haven't delivered all the bikes?
The answer is simple, every company needs cash flow to keep on while our cash burn rate is approaching the sky. We are a start-up company and we started from the ground up so the funds spent on the new facility, tools, pre-production R&D, etc and it means that the originally raised fund is gone a long time ago (It was about $900k). We raised another $900K and that's what we're using for making and sending the bikes. Every new sale has enough margin for sending some bikes and this is why we need new sales.
The video shows more than 300 bikes packed. That's what you're seeing in your customer panel.
The problem is we have some financial problems because of the following reasons:
1- The trade war hit us hard. 2- We made some mistakes in logistics because of the lack of experience. Furthermore, the shipping rules change daily! For some countries, especially islands we paid $1000 per bike while the backers paid only $149.
3- We changed the original design as per your requests like changing the mainframe mold to be big enough for a bigger battery. 4- We spent two years of R&D on the ECU and the result is reflected here: https://www.nireeka.club/forum/__ecu/nireeka-ecu
5- Solving issues like frame protector, chainring, brake pad touch surface, etc and of course it was again our mistake.
6- Some parts that we made and could not be used such as the first ECU version (Only this one could keep us enough funds to ship at least 200 bikes), battery brackets, controller, crankset, cadence sensor, radars, etc.
7- We changed the original tire and inner tube to Maxxis while we already had them all in our warehouse.
8- Defective batteries because of the long customs clearance.
9- All the damages caused by the shipping companies and we had to send replacement parts to all these backers and also pay for the labor cost to some.
10- We changed all the packing boxes while we had all 1000 boxes in our warehouse.
11- Offering more than 18 colors with 3 frame sizes, created more than 50 varieties (Only for color and size, we have more than 100 other varieties for upgrades) and it was one f our other mistakes.
1- Please give us some more time. It's nearly two years for some backers and it's long enough to lose faith in this project but we're shipping all the bikes in a row but slowly.
2- Some backers helped us by paying a partial shipping cost, and of course, we keep these amounts as their credit for the upcoming products. If you're interested in helping us like this, please email us at email@example.com.
3- Some of our backers saying that they don't recommend Nireeka to anyone else because of the long delivery time. This would make the situation even worst.
4- Invite your friends and the people you know to join us. This will help us as described above.
We're doing our best to be as transparent as possible but we don't want to worry you. We're working hard on different scenarios and the Nireeka will be with you forever!