Lordstown Motors Corp (RIDE  ) is facing an uncertain financial future, admitting to needing more capital than even its pending factory sale to Foxconn has provided.

The startup is already a year behind schedule to begin producing its Endurance electric pickup truck. However, when issuing its Q1 results for 2022, Lordstown Motors noted that it would require an additional $150 million in capital before the end of the year. The company's financial problems have persisted despite receiving $250 million in down payments from Foxconn for its Ohio factory and seem to be extensive enough that the additional $57 million that Lordstown Motors is set to receive if its deal closes won't be enough.

According to the company's earnings report, scaling production to meet the goal of shipping 500 trucks by the end of the year will scale the costs as well, putting further strain on its finances.

"We will need additional funding to execute our 2022 business plan and achieve scaled production of the Endurance," Lordstown Motors said in the report. "As we seek additional sources of financing, there can be no assurance that such financing would be available to us on favorable terms or at all."

The company stated that it faces additional uncertainties from parallel probes from the U.S. Department of Justice (DoJ) and U.S. Securities Exchange Commission (SEC), which could complicate obtaining necessary capital. If Lordstown Motors' deal with Foxconn falls through, the company would be forced to repay the $250 million paid for the factory so far. Given that LMC reported just over $200 million in March, this would likely clean out the automaker's accounts, with few apparent options to save itself.

Lordstown Motors shares took a deeper dive on Monday that drove its already-sagging price even lower. Shares slid 12.6% over Monday and Tuesday.