Faraday Future has big plans including a new mainstream FX brand. It’s expected to offer an assortment of vehicles including a Super One minivan, an FX 6 crossover, and an entry-level FX 5 that costs between $20,000 and $30,000.

That’s a lot of new product, but Faraday Future doesn’t exactly have the best track record. On top of that, they’ve released their first quarter financial results, which paint a concerning picture.

More: Faraday X Super One Minivan Teased With A Big Honkin’ Grille

How bad? In the first quarter, the company delivered a grand total of two cars. That’s less than one per month, but it didn’t stop the automaker from proclaiming they expanded their “client base” and officially entered the East Coast market thanks to a delivery in New York.

That’s some glass half full thinking and things only get worse from there. Given dismal sales of the FF 91, the company only generated $300,000 (£225,576 / €266,712) in revenue from deliveries and leases.

If that wasn’t bad enough, Faraday continues to hemorrhage money. While the press release didn’t mention their net loss, it was buried in their financial presentation and totaled over $10.2 (£7.7 / €9.2) million. However, it’s $43.8 (£33.2 / €39.5) million operating loss is more eye-catching.

Those are some bleak numbers and their release had more warnings than a five alarm fire. These included the company’s “history of losses and expectation of continued losses” as well as risks related to operations in China.

Faraday Future did reiterate some good news including a pre-order agreement for 1,000 FX Super One vans from JC Auto. However, the forward looking statement burst that bubble as it noted the true number “may be as few as two.”

Likewise, the previously announced pre-order deal with Sky Horse Auto for 300 MPVs could be “as few as one.” On the bright side, their $30,000 (£22,550 / €26,658) deposit was non-refundable and that’s big money for a firm like Faraday.

Faraday Future has released a revealing teaser image of their upcoming Super One minivan. It’s slated to go into production later this year and become the first member of the value-focused Faraday X lineup.

Scheduled to debut in June, the van has a massive grille that would make Lexus blush. It appears to be slightly recessed and sport a fully enclosed design with illuminated accents.

More: Faraday Future Teases New FX 6 Crossover And Super One Minivan

Additional details are hard to make out, but we can see slender headlights, a sculpted hood, and pronounced wheel arches. Previous teasers have also revealed a generic minivan shape as well as an expansive greenhouse.

Faraday hasn’t said much of substance about the van, but they’ve billed it as an “AI-MPV” that will “meet the dynamic and diverse needs of visionaries and their families.” The model is also slated to deliver “twice the performance at half the price.”

The Faraday X lineup is designed to compete in the $20,000 – $80,000 price range and previous reports have suggested the van will come with two rows of leather seats. Second-row passengers take priority and they’ll reportedly be greeted by a small fridge as well as heated and massaging seats with integrated footrests.

Little else is known about the van at this point, but the company has previously suggested there could be electric and range-extended powertrains. Faraday has also hinted at taking refundable reservations in the second quarter of this year.

However, everything’s still up in the air as Faraday Future recently said the FX family is “contingent on securing appropriate funding and finalizing necessary agreements.” That’s not reassuring when the automaker has a terrible track record and posted a $355.8 (£273.9 / €328.5) million loss last year.