Elio Crowdfunding

[Coss]

Maybe this is what you were talking about userexec?



News Release – Elio Motors Regulation A+ Success Update
by The Elio Team


Elio Motors Launches Most Successful Disclosed Equity Crowdfunding Campaign to Date as Nearly 5,000 Investors Express Interest of more than $16 Million in Revolutionary Transportation Start-up


2012 JOBS Act Regulation A+ Allows Non-Accredited Investors to Buy in to Private Companies


Troy, Mich., July 8, 2015 – Elio Motors today announced it is off to a record-setting pace for its disclosed equity crowdfunding campaign, with more than $16 million in expressed non-binding interest from nearly 5,000 potential investors in just 19 days. Elio Motors’ goal is to raise $25 million through the campaign.

Elio Motors launched the crowdfunding initiative on June 19 and has averaged nearly $1 million in expressed non-binding interest each day. Capital raised will help fund the 2016 launch of its three-wheel, enclosed vehicle that is expected to sell for $6,800 and get up to 84 MPG. The innovative funding strategy, made possible by recent changes to the 2012 JumpStart Our Business Start-up (JOBS) Act, was the perfect fit for a company that looks to innovate in every aspect of its operations.

“We’re always looking for new ways to do things and crowdfunding is certainly the wave of the future for entrepreneurs, start-up organizations and investors,” said Paul Elio, founder and CEO of Elio Motors. “With so many people expressing interest in our vehicle and our company, it shows we are on the right track – both in how we have developed and marketed this vehicle and also in how we are raising the capital needed to continue our march toward production.”

Elio sees crowdfunding to raise capital for the company as a natural evolution of its grass-roots based strategy. The company has already taken nearly 45,000 reservations for a spot in line to purchase a vehicle and routinely has people lined up around the block to see the vehicle at its tour stops across the country.

The crowdfunding opportunity was made possible in March of 2015, when the U.S. Securities and Exchange Commission (SEC) enacted rules to implement Title IV of the JOBS Act, paving the way for private companies to raise up to $50 million from both accredited and non-accredited investors. This new set of rules is known as “Regulation A+.”

Elio Motors will use funds from this initiative to build an additional 25 prototypes for testing and validation. In March, the company launched an investment opportunity based on Rule 506(c) of Regulation D, which allows companies to offer shares to accredited investors. Funds from that initiative allowed Elio Motors to begin building its fifth generation prototype, the P5. The P5 will feature an engine developed by IAV specifically for the Elio and also will feature a production level transmission from Aisin.

Individuals interested in learning more about the Elio Motors investment opportunity can go to StartEngine.com - https://www.startengine.com/startup/elio-motors -, the crowdfunding website launched in June by business incubator Start Engine.

“We launched the StartEngine.com platform with companies like Elio Motors in mind,” said Ron Miller, Start Engine partner. “The quick and deep interest in Elio Motors tells us two things. One, crowdfunding is poised to become an important tool for entrepreneurs and investors alike. Two, investors are looking for ways to find companies with visionary businesses such as Elio Motors. StartEngine.com is a great way to bring them together.”

Not only have investors expressed interest in Elio Motors, potential customers have as well. Nearly 45,000 people have made reservations for spot in line to purchase a vehicle. When the Elio goes to market, it will create 1,500 jobs at its Shreveport, Louisiana facility. In addition, the Elio will use 90 percent North American content, creating another 1,500 jobs at its supplier partner companies. These manufacturing jobs will in turn create approximately 18,000 indirect jobs across the country.

About Elio Motors

Founded by car enthusiast Paul Elio in 2008, Elio Motors Inc. represents a revolutionary approach to manufacturing an ultra-high-mileage vehicle. The three-wheeled Elio is engineered to attain a highway mileage rating of up to 84 mpg while providing the comfort of amenities such as power windows, power door lock and air conditioning, accompanied by the safety of multiple air bags and an aerodynamic, enclosed vehicle body. Elio’s first manufacturing site will be in Shreveport, Louisiana. For more information, visit http://www.eliomotors.com or www.facebook.com/ElioMotors.

**No money or other consideration is being solicited at this time, and if sent in to Elio Motors or StartEngine, will not be accepted. No offer to buy securities of Elio Motors can be accepted and no part of the purchase price can be received until Elio Motor’s offering statement is qualified. Any such offer to buy securities may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance is given after the qualification date. Any indications of interest in
Elio Motor’s offering involves no obligation or commitment of any kind.**

 

[userexec]

Yep, that's the one! They didn't mention in there putting all the progress out in the open on the campaign page itself, but that was to coincide with this announcement, and it did

 

[AriLea]

If it wasn't noted yet ( often you guys beat me to it ) I just noticed they have solid numbers in dollars showing on the Elio-StartEngine page.

At the moment it says;
$25,000,000 Funding Goal
68% Reserved $17,096,249
in non-binding indications of interest received so far
4523 Reservations

And show the progress bar more boldly. So I guess they learned something recently. That's pretty good progress even if there is some bogus commitments in there. Of course we have no evidence of anything bogus, so I'm, going with a big HURRAY!

(Edited HOW come now I see your post updates and not 5 minutes ago? OK you DID beat me to it.

And the prior notes above would fit the promise of a funding news release EM promised.

 

[AriLea]

. . . 68% Reserved $17,096,249
(Edited HOW come now I see your post updates and not 5 minutes ago? OK you DID beat me to it.

Wow just jumped to $17,116,249 since my last posting above. It is moving fast these days.. ah these minutes!.

That rate extended for 12 hours is $1.5mil!

One thing I noticed, (some of us) assumed it was a 50mil goal, and now appears to be a 25mil goal on the website. Was the actual goal ever formally expressed previously?

And I'm guessing, just because the website goal was 25mil doesn't mean they can't accept the full $50.

 

[Ekh]

Crowdfunding update.

From the press release (July 8)

Troy, Mich., July 8, 2015 – Elio Motors today announced it is off to a record-setting pace for its disclosed equity crowdfunding campaign, with more than $16 million in expressed non-binding interest from nearly 5,000 potential investors in just 19 days. Elio Motors’ goal is to raise $25 million through the campaign.

I think Elio is keeping it a little conservative to account for drop-outs and spammers.

 

[Ekh]

Yep, that's the one! They didn't mention in there putting all the progress out in the open on the campaign page itself, but that was to coincide with this announcement, and it did

Here's what the bar looks like now. Usrexec, how do you think they're screening out the fakers, and how often does this update?

e

 

[Ekh]

The counter seems to behave erratically. at 6:05 pm eastern, it's added a reservation but the total (17,116,249) has not changed. You have to refresh the page to see these changes; unlike Userexec's class act tracker, this one doesn't seem to auto-update.

I scan see why total dollars would change without necessarily changing reservation numbers, as people alter their level of commitment. But to increase the "investors" without altering the $ value seems kinda strange to me.

 

[JNR]

One thing I'm watching is $/reservation, currently $3,782. If you look at our own poll here and take the median of every $ category and divide by the quantity of votes that are giving some amount, we get $3,851 per reservation. So it does look like a decent representation, although I'm still not sure what to make of it, just curious. There sure is a lot of interest in the Elio, real and/or fake to get to those #'s so quickly. I know a lot hinges on the deal, I will go up or down based on what the terms are and what the progress is at the time of the offer.

Note that the other 3 companies on start engine are not showing their progress.

 

[userexec]

Here's what the bar looks like now. Usrexec, how do you think they're screening out the fakers, and how often does this update?

eView attachment 6093

It looks like there's some pretty extensive user tracking and form encryption + validation on that page, so they've prepared for bot exploits. As for a regular human faker, I don't think it would catch them. Not much you can do to prevent that apart from additional verification steps that would turn away people serious about it. Looks like the updates are done server-side as the page is generated, and based on how often the numbers change, I'd say they're accurate at that moment. They won't update over time without a reload since this isn't a reactive page like my tracker, but reactive is still pretty new and most sites aren't (and don't really need to be) set up for it. I like what they've done!

 

[JEBar]

Ekh, 7:31 pm it is back down to $16,908,579 !!!

it makes me wonder (and I do hope it is the case) if they have put in place a tighter authentication process than they had to start with .... no clue what that would involve