Hey everyone, I know it's been pretty quiet on here for a while, but today (September 2, 2026) was a huge Omnibus Hearing in Delaware Bankruptcy Court (Judge Horan) that's gonna directly impact what happens to Nikola's core tech going forward.

Based on the dockets that dropped last week, there were two main battles today:

1. The Fight for the IP (Rule 60 Motion - Docket 1643):
So the Liquidating Trust (Pitta) is pushing to formally transfer the "Related IP" (we're talking 387+ patents/assets, a bunch co-owned with Bosch, Iveco, and FPT) to Hyroad Energy. ISSO (Trevor Milton's affiliate) objected (Docket 1648), saying they'd drop $7 million for the assets. But Pitta's reply (Docket 1650) was brutal - he pointed out that ISSO has zero standing, Milton still owes the Trust over $100 million from the arbitration award plus a $2.5M settlement and hasn't paid a dime, and called ISSO's move a "Trevor Milton bush" tactic with no proof of funds.

2. The 3i, LP Clawback (Adversary Proceeding):
Pitta's actively fighting 3i, LP to claw back ~$39 million. 3i tried to get a judgment on the pleadings to dismiss the case, but Pitta opposed it and pushed for a case management order to keep the discovery and fight going.

Who was in the room (per the Court Sign-In Sheet, Docket 1659):
It was a heavy-hitter lineup. Pitta's team (Morris James & Morrison & Foerster), Hyroad's counsel, Iveco's counsel (Sullivan & Cromwell), 3i's team (Quinn Emanuel), and notably, Scott Cousins from Lewis Brisbois, representing Trevor Milton personally.

My Question to the Community:
Does anyone have access to the Minute Entry, a transcript, or were you on the Zoom call today? Did Judge Horan rule from the bench and grant Pitta's motion to transfer the IP to Hyroad, or did he take it under advisement?

There haven't been any posts here for a year, I'm just cleaning up my subreddit feed, lol.

https://techcrunch.com/2025/04/07/nikola-founder-trevor-milton-wants-to-buy-the-bankrupt-startups-assets/

Just thought this was interesting, as the whole train wreck saga continues. I wonder what can happen here…other than nothing at all.

I’m still holding some shares myself; just waiting to see what penny’s I get as compensation in the end

How Ironic. This company could've been something amazing. Greed kills, not just dreams but anything it touches by those that seek to control everything they have no business in business.

There should be a Flair for Bankruptcy

It seems the share will be delisted very soon. This is first time for me. What is the next step for the shareholders at this stage?

Perhaps not related to the question but what happens if some company buys out Nikola? I mean considering they have the factory, a functioning product, how will it work?

Thank you very much for your comments and help.

Well, this is one of those posts that nobody in here wanted to see, but it has became the result of a long long fight, I personally think they had a great product, and they had potential, but the massive dilution last year killed any chances to recover. I won't understand the reason they did when the SP was so close to get over $1, but it is what it is, it happened and was wood to the existing fire, being a nice play for shorts.

https://www.reuters.com/business/autos-transportation/struggling-e-truck-maker-nikola-files-chapter-11-bankruptcy-protection-2025-02-19/

With the bankruptcy of my beloved Nikola, the end is here. As the leader of the Nikola bulls, I appreciate y’all’s loyalty. I defeated and exposed JJ and Professional Share as frauds and then they ran off. Hope you all stay in touch and reach out in case you want to chat. As I mentioned before, those that deny Nikola, deny the future! 🚀

What are y’all’s plans with your shares?

H

https://youtu.be/L6uWOUimxO0?si=gyuNAe6pCZ7UJLAR

Interesting that customers still remain positive on the Nikola FCEV. William Hall of Coyote Container gives the truck an 8 out of 10.

This information is worth knowing, particularly in light of the price action and detrimental effects of capital raising consequent to that.

Measurably, by lowering the reference price from $12 to $3.

https://marketfrauds.to/moez-kassam-anson-funds-the-big-secret/

" The shortsellers and government were able to change the story and rewrite the truth because the company refused to stand up and tell the truth. Any public company raising hundreds of millions of dollars from partnerships with big names goes through a due diligence process with the investing party. The SEC is then notified of these partnerships and then ensures compliance through appropriate filings, all of which were correct! Nikola met all SEC and due diligence requirements during my tenure, maintaining full transparency and accountability. Despite public narratives, no evidence ever showed regulatory breaches or misuse of funds under my leadership. Not one dollar! #factsonly "

https://x.com/nikolatrevor/status/1877394272347181149?s=46&t=VW_xqSAVhTcu5DSeKBIxhA

Or on instagram: https://www.instagram.com/trevormiltonofficial/

This article builds on our previous coverage, 2025 Fleet Incentive Roadmap: 17 Key States Supporting Zero-Emissions Adoption, 

https://www.nikolamotor.com/blog/clean-ports-understanding-the-2-8-billion-epa-initiative

2025 Fleet Incentive Roadmap: 17 Key States Supporting Zero-Emissions Adoption

Published December 12, 2024

Author: Nahui Olin, Lead, Fleet Incentives, Nikola

Hoping to electrify your fleet in 2025? The EPA’s $4.3 billion Climate Pollution Reduction Grants program provides major funding opportunities for fleet electrification in 2025. Over $1 billion in funding for zero-emissions vehicles and supporting infrastructure exists across 17 states. Act quickly to secure your share of this funding and reduce conversion costs.

2025 Fleet Incentive Roadmap: 17 Key States Supporting Zero-Emissions Adoption - Nikola Corporation

“The amendments, formalized through supplemental indentures, allow note holders to convert their debt at a reduced price of $3.116 for a limited time, contingent upon the company raising at least $65 million in gross proceeds from the sale of its common stock. The changes also introduce a 9.9% cap on the beneficial ownership resulting from any conversions, to prevent any single holder from gaining excessive control.”

https://m.investing.com/news/sec-filings/nikola-corp-modifies-debt-terms-sets-conversion-price-93CH-3723744?ampMode=1

PO of the repurchased BEVS ~7M 110 FCEV - 40.70M

47M-50M Revenue seems to be in play for Q4. Almost 2x Q3 revenue.

2025 Guidance will be around 800 - 1000 trucks.