For the sake of clarity, what’s for the new owner to own? Five obsolete ‘prototypes,’ one (possibly two) with some means of propulsion, a trailer, some plastic signage, a leased space in a communal office rental in Phoenix, a highly leveraged interest in an old Louisiana vehicle assembly space, and at least two versions of CAD drawings with nothing patentable or difficult to re-‘engineer.’ The only other thing Elio Motors has lots of is debt and a few fines and penalties. Who in their right mind would buy into that? Is there anything I’m missing here? There was a cool Sprinter Class B motorhome, but iirc it was gifted to one of the guys a long time ago to pull the trailer: it didn’t reappear in those fishy New York shots a few years back.....
Paul probably walked away with about 4 to 7 million from his interest in ESG Engineering and did earn $ 250,000 / year for probably about 6 to 8 years. I really doubt his dog is even in this race anymore. They are kinda stuck: if they stop taking reservations it will really start the ‘second guessing.’ That couple of days last week when their website was ‘down’ was probably a little test.... I bet it’s really not worth their time to process reservations, if they still are trickling in. Just more liability and ‘bad faith’ for them to muddle thru later.