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Desperate Measures...

LillyMayPatterson #1685 & #5648

LillyMayPatterson #1685 & #5648

Elio Addict
I hate the idea of second guessing the guys in charge of elio motors. I might be able to teach them how the milk a goat but that is about it. They've been around the block in the auto industry, I haven't. They did not get to where they are by being crooked or seamy. I met most of them and they want this venture to work as much as we do. They got more money invested into it than I can dream about. They are talking the talk and walking the walk. And I hate the notion of calling in any more government do-gooders. Most of them are in the American Auto Association pockets anyways. More cooks in the kitchen does not make a better soup, just a bigger mess.
 
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Samalross

Elio Addict
Coss said:
No, because the books say they take that much, they really don't.
A lot of it is owed, but they aren't taking it, it's a numbers thing.
There is no need to contact politicians.
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I never heard anything about them not taking the money. Do you have a source?
 
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Samalross

Elio Addict
Coss said:
I would have to go and dig for the stories they've put out about the money they take, but I don't have the time, or the drive to do so.
There are others that do, I'll see if I can find out some printed matter for you.
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Thank you They will have to put in in the SEC report if they plan on getting reimbursed at a future time.
 
Ty

Ty

Elio Addict
Elio Amazed said:
Nope. You're forgetting that in addition to already spending all the all-in deposits from that batch of 65,000 units...
They've actually gone into the hole on many of them by giving up to a $750 discount plus locking them in @ $7k before discounts..
If you average it all out, about the only "profit" they might make on the first 65,000 units is on options, add-ons and upgrades.
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Quite a few of the "All-In" deposits are being held in an account Elio has no access to.
 
Rob Croson

Rob Croson

Elio Addict
There was a lawsuit last year about EM's credit card processor withholding something like $2M $766k of all-in funds due to some dispute. I believe it was Paypal, but I don't have a link. It is in one of the SEC reports, if you read carefully. I believe that was settled already, and EM was given the funds.

Edit: Found the SEC filing that listed the actual amount:
"Through December 31, 2016, we have $27.3 million in reservations, an average of $568 thousand per month. Of this amount, $766 thousand was held at December 31, 2016 by credit card processing companies as a percentage of non-refundable reservations."
 
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Samalross

Elio Addict
Rob Croson said:
There was a lawsuit last year about EM's credit card processor withholding something like $2M $766k of all-in funds due to some dispute. I believe it was Paypal, but I don't have a link. It is in one of the SEC reports, if you read carefully. I believe that was settled already, and EM was given the funds.

Edit: Found the SEC filing that listed the actual amount:
"Through December 31, 2016, we have $27.3 million in reservations, an average of $568 thousand per month. Of this amount, $766 thousand was held at December 31, 2016 by credit card processing companies as a percentage of non-refundable reservations."
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I think that Stu Lichter guaranteed the deposits if my memory is correct
 
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