LORDSTOWN, Ohio - Stock prices for Lordstown Motors rallied a bit Wednesday after a late afternoon report from Reuters quoted the company as saying they're debt free, have tangible assets and potential strategic investments over the long term.

It's news that comes one day after an SEC Filing indicated the company may not be able to sustain full scale production of its endurance electric pickup truck.

CNBC Auto Analyst Phil LeBeau calls it a period of nuance language and the jury is still out in terms of their viability and future.

"It's easy to sit here and say well they issued a notice through the SEC that they may be running short on cash and that means these guys are in trouble, yeah it's not great, but at the same time Lordstown Motors does have some options available so it's too soon to say this is the end for them, they very well could get to the beginning of production, they very well could survive and thrive but they've got a number of hurdles they need to overcome before that," LeBeau said.

One of those hurdles is coming up with the cash to not only start production but then ramp it up. Lordstown Motors says right now, they only have enough money to begin limited production.

It's not enough to just have the money they need in order to start production of a pickup truck in limited runs because you are not going to sell a whole lot of those, you're not going to bring in a ton of money," LeBeau said. "You need money in order to ramp up production and that is going to be the biggest challenge for the foreseeable future and we are talking about the next several months for Lordstown Motors."

LeBeau says Lordstown Motors will likely need to raise somewhere in the $2.5 billion range. The company claims they are already having active conversations with investors.

"There are a number of possibilities in terms of strategic investors who are likely looking at this," LeBeau said. "Lordstown Motors have said they have had discussions with a number of possible investors so, one of those discussions may ultimately bear fruit. We don't know at this point but we do know that Lordstown Motors is pursuing a capital infusion."

Help could come in the form of a $200 million dollar loan from the U.S. Department of Energy to help pay for retooling its factory, the former GM plant. John McElroy from Autoline doesn't see that happening now.

"I doubt very much they will be able to get a loan," McElroy said. "You know look, if the company had all kinds of orders, if it was struggling to meet demand then the Department of Energy might give it a leg up with a loan. But here's a company that hasn't built anything, can't even get going, there's no way the government is going to put money into that."

So does McElroy believe Lordstown Motors has a future?

"I don't really see any chance unless there is some sort of white knight or guardian angel that swoops in at the last minute to pick things up."

Lordstown Motors is still planning an open house event for investors, media, fleet customers and analysts the week of June 21st. The events that week will also be live streamed for the public - 21 News will be there in-person for any new developments.