Elio Crowdfunding

[LillyMayPatterson #1685 & #5648]

I haven't been paying attention this week, but I noticed what appears to be lots of folks upping their pledges, this morning. The dollar amount goes up a little but the reservations stay the same. Good Going ! Thank you !

 

[WilliamH]

This says it: http://energy.gov/sites/prod/files/...r-Applicants-Final-Version-October-5-2012.pdf

OK, what does it say? The 2014 update is included here........

I was doing a little browsing in DOE trying to find the testimony I mentioned (John Painter says Aptera) when I came across the DOE requirements for the DoE ATVM UEV loan. I didn't bore down all the way, but this is the primary requirements document.
---------> http://energy.gov/sites/prod/files/2015/02/f19/ATVM_Guidance_for_Applicants_11.4.14.pdf <----------
----------> http://energy.gov/lpo/atvm-application-process#Eligibility <------------
Added Eligibility document 7/25/15 @ 5:09 PM

I haven't done a diff on the two files but they are both just the requirements.

 

[WilliamH]

OK, what does it say? The 2014 update is included here........

I haven't done a diff on the two files but they are both just the requirements.

Looking at page 8, I haven't seen Elio any place beyond stage IV. APPLICATION PROCESS, step 2.

 

[satx]

looks like the fatal eligibility requirement:

"Be financially viable without the receipt of additional federal funding for the proposed project."

 

[Rickb]

It doesn't say you have moved there.
Other than that, there was no factual basis for the statements you made.

http://energy.gov/sites/prod/files/2015/02/f19/ATVM_Guidance_for_Applicants_11.4.14.pdf
http://energy.gov/lpo/atvm-application-process#Eligibility

None of us know what was in the document that Elio provided to the DoE LPO.
The agreement is with RACER Trust and has been extended once already.
......."Apparently, EM not only needs to show the DOE the P5, but also needs to show the DOE some additional serious on the bank statement funding."..........
Where are you getting that from?

Implied darkside, anger, etc. image attached as part of your personal response. There seems to be 2 sides: Your Side and the Dark Side.

I used the term apparently and didn't state it as fact! A logical ass-u-me-sumption.
Frankly, most of EM's statements aren't factual, but rather stated goals e.g. anticipated production schedules and prior statements of P Build funding is in the bank. Although their statements regarding needed funding for production APPARENTLY is fact. I undstand and appreciate that APPARENTLY out of control things happen along the way on the road to production.

Doesn't the DOE require financials showing financial solvency and that the loan can be repayed? I hope the financial statements look better than my perception. EM APPARENTLY has funding for the P5, so they say, and is in the process of crowdfunding for the P6-30, which is a long ways out from real in the bank funds. APPARENTLY EM has funding in the bank for day to day operations and they have said numerous times over the past 2 years we are waiting on a variety of funding sources to materialize. APPARENTLY not many of those funding sources have materialized. If they have money in the bank and the DOE has verification of EM's financials which indicate the ability to repay the loan that's a good thing indeed. My opinion is that the DOE would still need to see a prototype build beyond the makeshift P4 before they approve the loan application to verify Elio's stated specs. I need to see the P5 too for verifcation that EM has moved forward with that milestone step in the production process.

I sincerely hope that EM's financial statements show them to be viable without the ATVM low interest loan if in fact a requirement.

EM is a startup business with no product to sell and that's a fact. Frankly, I hope to buy an Elio as a FUN vehicle not a FUNctional commuter vehicle. I seriously care about Elio succeeding for those future owners that would benefit finacially from a low cost new, reliable, and cheap to drive/maintain high mpg commuter. It would make a huge difference in a families personal finances. Excellent chance it will. I have other options for FUN. Go Elio!

 

[Rickb]

looks like the fatal eligibility requirement:

"Be financially viable without the receipt of additional federal funding for the proposed project."

Interesting possiblity why the ATVM loan has not been approved. Perhaps the DOE is waiting to see other funding sources materialize prior to their approval. I don't see this as fatal, but rather a complex hurdle. It would only take one big venture capitalist to jump it.

 

[Kuda]

Interesting possiblity why the ATVM loan has not been approved. Perhaps the DOE is waiting to see other funding sources materialize prior to their approval. I don't see this as fatal, but rather a complex hurdle. It would only take one big venture capitalist to jump it.

Paul recently stated the he
sees the financial picture to
be 'clearer' than it has been
to this point. I view that as
affirmation that Elio is on track.....

 

[WilliamH]

Implied darkside, anger, etc. image attached as part of your personal response. There seems to be 2 sides: Your Side and the Dark Side.

I used the term apparently and didn't state it as fact! A logical ass-u-me-sumption.
Frankly, most of EM's statements aren't factual, but rather stated goals e.g. anticipated production schedules and prior statements of P Build funding is in the bank. Although their statements regarding needed funding for production APPARENTLY is fact. I undstand and appreciate that APPARENTLY out of control things happen along the way on the road to production.

Doesn't the DOE require financials showing financial solvency and that the loan can be repayed? I hope the financial statements look better than my perception. EM APPARENTLY has funding for the P5, so they say, and is in the process of crowdfunding for the P6-30, which is a long ways out from real in the bank funds. APPARENTLY EM has funding in the bank for day to day operations and they have said numerous times over the past 2 years we are waiting on a variety of funding sources to materialize. APPARENTLY not many of those funding sources have materialized. If they have money in the bank and the DOE has verification of EM's financials which indicate the ability to repay the loan that's a good thing indeed. My opinion is that the DOE would still need to see a prototype build beyond the makeshift P4 before they approve the loan application to verify Elio's stated specs. I need to see the P5 too for verifcation that EM has moved forward with that milestone step in the production process.

I sincerely hope that EM's financial statements show them to be viable without the ATVM low interest loan if in fact a requirement.

EM is a startup business with no product to sell and that's a fact. Frankly, I hope to buy an Elio as a FUN vehicle not a FUNctional commuter vehicle. I seriously care about Elio succeeding for those future owners that would benefit finacially from a low cost new, reliable, and cheap to drive/maintain high mpg commuter. It would make a huge difference in a families personal finances. Excellent chance it will. I have other options for FUN. Go Elio!

Interesting possiblity why the ATVM loan has not been approved. Perhaps the DOE is waiting to see other funding sources materialize prior to their approval. I don't see this as fatal, but rather a complex hurdle. It would only take one big venture capitalist to jump it.

Reading ---------> http://energy.gov/sites/prod/files/2015/02/f19/ATVM_Guidance_for_Applicants_11.4.14.pdf <---------- other than a headache I am left with the feeling that our laws are written to and for the benefit of the Lawyers and CPAs. Considering that Elio claims to be someplace in Stage 2 (see page 8) I can only hope that it is just a matter of addressing odds and ends.

 

[Rickb]

Paul recently stated the he
sees the financial picture to
be 'clearer' than it has been
to this point. I view that as
affirmation that Elio is on track.....

That is positive and hopefully we see some actuall progress (P5) in the next few weeks to verify that.

 

[Kuda]

looks like the fatal eligibility requirement:

"Be financially viable without the receipt of additional federal funding for the proposed project."

I agree this is a tough one, but it is
inherently ambiguous. It could mean
that if you get the funds you've applied for that you must be able to
make the payments without any
further (additional) funding. My
guess is that Elio is in the advanced
due diligence phase of the process
& has submitted the required financials, & projections, etc. The
key remains the testing.....