The last time Elio filed with the SEC was 11/13/18 and that was for the period ending 6/30/18. From what I've seen from other zombie companies, it takes about 4-5 years of no reports before the SEC takes action. Then they are given around 30 days after a final warning then the stock is delisted. Then, that doesn't mean the company is out of business. It can go on for many years in the zombie state. Elio Motors has trimmed their expenses down to the website and then just watching the bills from the loan in the equipment, lease and fines just keep getting deferred. Then all Elio has to tell everyone is, "We are looking for funding."
This is just like having an old piece of property that used to be a gas station and the ground is contaminated. You can stop paying taxes on it and then it can go up for auction. If nobody bids on it (because nobody wants to have to deal with the cleanup) then you still have it. All you do is hope for funding to show up so you can clean it up and pay for back taxes. Then you can develop it into something that makes the community happy. Until then, it's, "Why doesn't someone do something about it?" The owner hopes that the area will turn around and the property will shoot up in value.
Elio is this way. They are hoping that the market for super cheap, high mileage three wheelers that checks everyones boxes will become the next big thing. Until that happens, Elio Motors can do exactly what they are doing right now, plus keep it going for 10-15 years.