Possible Scam?

[2ndrew]

Numbers I got were 516-478-9002/9003/9013

 

[Rob Croson]

There are a lot of IPO's that wouldn't meet those requirements, is there perhaps a different requirement set for IPO's?

No idea. I'm not a broker or a banker, or any of that. However, those requirements I quoted were for listing on the NASDAQ. That's not the same as an IPO. You have to already *be* public before you can get on the NASDAQ.

 

[James DeCoster]

This guy, an alledged "Patrick Nicolas" left a VM for me too during 3rd week of Sept., saying he wanted to update me on the Elio project. I called back but no one answered.
I figure if ElioMotors needs to shore up their support base by providing all of us with reliable updates, they can do it with occasional reports to all concerned through email. As useful as the Owner's forum is, it's not the proper vehicle to keep their reservation customers informed and for maintaining a good relationship.
I asked to be "unsubscribed" six months ago when I got tired of the Company constantly soliciting more reservations when I already had one, and not channeling that wasted energy into producing the car.
That contact must have come from ElioMotors because the forum shouldn't be using our phone numbers. Despite the Company's well-functioning websites, I'm still not happy with the legitimate communications we all deserve.

 

[am_fm_radio]

This is why I canned my home phone 14 years ago when my wife died. Tons of phone calls, not 1 symphathy card...Especially people who had gone to High School with her, who I didn't know from Adam.. No phoe equals- No politicians, No scammers, No wrong numbers-usually spanish speakers,
No solicitors, no phone bills!!
Also canned Direct TV... I remember saying why am I paying $89 a month.. I watch TV on Saturday night maybe 4 hours a month.. That went too.. I get 40+ channels on a $20 TV antenna on the roof.
I figure I save over $100 a month just on those 2 items, I don't need or want..She wanted them..
Now if I could only cut out junk mail... Direct TV special offers at least once a week. Then Insurance companies going to save me $400 a year and it's from the insurance company that insures me..ALL SCAMS!!

 

[Chris F]

There are a lot of IPO's that wouldn't meet those requirements, is there perhaps a different requirement set for IPO's?

Not all IPO's get NASDAQ listed. EM would be eligible for other markets.

 

[Chris F]

Never give personal info over the phone unless you initiate the call and know who you are calling. Any telephone solicitation being done now (before the Reg A is qualified) is almost certainly a scam. I would expect the Reg A to get either qualified or a comment letter issued in the next week or two, depending on the SEC backlog.

 

[Ty]

Not all IPO's get NASDAQ listed. EM would be eligible for other markets.

As a matter of fact, Mr. Vassallo himself said that if Elio did an IPO it wouldn't be listed on the NASDAQ but would most likely be OTC. (maybe I have that acronym wrong...)

 

[AriLea]

As a matter of fact, Mr. Vassallo himself said that if Elio did an IPO it wouldn't be listed on the NASDAQ but would most likely be OTC. (maybe I have that acronym wrong...)

I think you have that right.

http://www.investopedia.com/terms/o/otc.asp
http://www.investopedia.com/ask/answers/06/buyotc.asp

 

[Rob Croson]

As a matter of fact, Mr. Vassallo himself said that if Elio did an IPO it wouldn't be listed on the NASDAQ but would most likely be OTC. (maybe I have that acronym wrong...)

OTC is correct. It stands for "Over the Counter", also called "off-exchange". That means it won't get traded on an exchange, and thus has less regulatory oversight. The 509c offering circular stated that they hoped to be traded on OTCQX.

This entire incident sounds like some legitimate broker making some "forward looking statements" or exaggerations in an attempt to drum up some business for himself. I would bet dollars to donuts that he his exact phrasing contained enough weasel-words and qualifying statements to keep him from getting in trouble.

 

[Ty]

OTC is correct. It stands for "Over the Counter", also called "off-exchange". That means it won't get traded on an exchange, and thus has less regulatory oversight. The 509c offering circular stated that they hoped to be traded on OTCQX.

This entire incident sounds like some legitimate broker making some "forward looking statements" or exaggerations in an attempt to drum up some business for himself. I would bet dollars to donuts that he his exact phrasing contained enough weasel-words and qualifying statements to keep him from getting in trouble.

I kind of got the feeling that something MAY be coming up but that a 50% discount on stock was unrealistic (and probably illegal).