What Components are Behind Schedule?
Not meaning to sound negative, but my experience with new aircraft designs is that the paint is not applied until after first flight. This is for two reasons;
1) Paint is not required to achieve a first flight milestone.
2) Until all the aircraft, functional testing and ground runs are completed, aircraft paint is susceptible to damage.
The only reason I can imagine to deviate from this practice is, the marketing people need something to report, and major components are running late.
That said, I wish Racer engineers the best of luck.