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SUBSEQUENT EVENTS | 9 Months Ended
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Sep. 30, 2025
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | NOTE 19 — SUBSEQUENT EVENTS The Company evaluated all events and transactions that occurred after September 30, 2025 up through the date the Company issued these condensed consolidated financial statements, and unless disclosed below, there are not any material subsequent events that require disclosure in these condensed consolidated financial statements. On October 22, 2025, the Company announced a strategic partnership with a supplier in Vietnam to support the company’s ongoing initiatives to enhance production flexibility and expand capacity for its rapidly growing lineup of electric vehicles. The new 2026 MVR Golf Cart and MVR Cargo Max Electric Utility Cart has begun manufacturing in Vietnam. The Board of Directors held a meeting on November 6, 2025, during which it approved the inclusion of Bitcoin as part of the Company’s long-term treasury reserve strategy. The Bitcoin acquisitions will be funded using the Company’s current operating cash flow and will be held in an institutional-grade, qualified custodial account.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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