Steering Ahead

micromobility.com Inc.'s Strategic Path to Profitability and Market Expansion.

micromobility.com Inc. (Nasdaq: MCOM).

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As the CEO of micromobility.com Inc., I Salvatore Palella, feel it's crucial to directly address our shareholders. Herein lies my letter, outlining the company’s strategic initiatives and steadfast commitment towards our collective success.

Dear Valued Investors,

As of December 4, 2023, with the execution of our reverse split, I would like to seize this opportunity to share with you the strategic vision driving micromobility.com Inc. going forward.

Adapting to Market Trends: Focusing on Profitable Sharing and Retail Expansion

We have observed shifting dynamics in micromobility sharing services market, prompting us to pivot our focus to greater investment in branded retail and only operating sharing services in profitable cities. We believe this pivot aligns with our goal to enhance operational efficiency. Further our Q2 results demonstrated significant cost reductions, which was a challenging yet necessary step as we lean more on third-party operations for greater profitability.

Innovative Solutions: Long Term Rentals and Fintech Payments Integration

Our response to the changing needs of end users who love our mobile app but lack sharing options under Helbiz or Wheels is two-fold: (i) Long-Term Rental (“LTR”) and (ii) Fintech payment solutions.

- LTR: Starting in SoHo, New York and expanding to LA, California and Austin, Texas, we continue to offer long-term scooter rentals increasingly our NY flagship store plays a crucial role in this LTR venture.

- Fintech payments solutions: We are initiating discussions in the European Union to integrate payment solutions into our mobile app. This strategy aligns with our recent decision to appoint Valco Farina as a new member of our board of directors. We strongly believe Mr. farina’s expertise in fintech will be instrumental in guiding this initiative.

Financial Strategy: Leveraging our Intellectual Property for Greater Flexibility

We are actively negotiating a loan to leverage our intellectual property (“IP”). Our aim is to settle this loan with a substantial discount on the principal, bringing financial relief and smoothing our current commitments. We expect to share more updates before the end of December 2023.