TexasTesla
Elio Addict
I’m curious how Elio Motors handled this recent “Catch-Up Payment”.
Elio’s last SEC filling indicated they had little or no cash.
“Catch-Up Payment. On or before October 10, 2018, Elio shall pay to RACER $4,484,755.50, which is the sum of the unpaid monthly amounts and late fees due to RACER under the Note (from October 2016 to October 2018) plus the sum of the forbearance fees due to RACER via this forbearance agreement and all prior forbearance agreements executed between Elio and RACER. The monthly payment and late charge portions of the Catch-Up Payment shall be applied to accrued interest due under the Note.”
Elio’s last SEC filling indicated they had little or no cash.
“Catch-Up Payment. On or before October 10, 2018, Elio shall pay to RACER $4,484,755.50, which is the sum of the unpaid monthly amounts and late fees due to RACER under the Note (from October 2016 to October 2018) plus the sum of the forbearance fees due to RACER via this forbearance agreement and all prior forbearance agreements executed between Elio and RACER. The monthly payment and late charge portions of the Catch-Up Payment shall be applied to accrued interest due under the Note.”