Elio Crowdfunding

[AriLea]

Anybody else notice they are only closing the opportunity to "express interest"? Others will be able to buy stock, apparently. There is a legal limit to the TOTAL stock they can sell. What happens if the first people who actually buy stock increase their stake to the highest legal amount (is there a max?)? Will that put the rest of us out on the street?...

I'm guessing here, but I believe they are required to accept everyone's expressed level of interest until closed. After that, then extended amounts and new comers get some attention.
If I'm right then probably the SEC authorization allows up to the MAX requested, but requires fulfillment of the 'expressed interest'.

BTW, 115% Reserved $28,751,960 yippie!

 

[Ekh]

Anybody else notice they are only closing the opportunity to "express interest"? Others will be able to buy stock, apparently. There is a legal limit to the TOTAL stock they can sell. What happens if the first people who actually buy stock increase their stake to the highest legal amount (is there a max?)? Will that put the rest of us out on the street?

Say if Elon Musk or someone with that kind of cash comes in and is the first person to buy stock but he buys $50,000,000 worth of it (the legal limit for Elio). Does that mean the rest of us are out of luck? Yes, it does. What keeps that from happening? Another instance, not as extreme but more likely...

Goofyone decides to double what he expressed as interest... If everyone did a little more, eventually, we'd hit the cap and someone would be out of luck.

I suppose the take away is this: When available to purchase stock, do NOT delay. Sure, there will be some who back out but I'll bet the number who increase their interest are greater in number...

People in the Elon Musk category are handled under Sec 506, private placement for qualified investors. No worry there, mon!

 

[Ekh]

I'm guessing here, but I believe they are required to accept everyone's expressed level of interest until closed. After that, then extended amounts and new comers get some attention.
If I'm right then probably the SEC authorization allows up to the MAX, but requires fulfillment of the 'expressed interest'.

BTW, 115% Reserved $28,751,960 yippie!

Cliff1 probably knows the answer to this.

 

[bowers baldwin]

 

[Ty]

People in the Elon Musk category are handled under Sec 506, private placement for qualified investors. No worry there, mon!

I used that as an EXTREME example. Same would be true if the first 1,000 people each went and bought $50,000 stock each.

 

[AriLea]

Seems we'll have 116% near the start of the weekend. And sometime next week, 120%
$28,843,459

 

[BaldGuy]

I don't know about you guys, but these letters from Elio to go out and hustle their stock bother me.

I never got this e-mail. But I do agree 100% with you. I also wasn't fond how there site use to automatically direct people to the start engine site. If I visited Elio for the first time, that would have definitively been a big turn off and a red flag.

 

[BADBOY]

Does not concern me at all.

 

[PipSquack]

Sadly I like the simple presentation of the StartEngine site better than Elio's.

The EM site seems too dark compared to the fresh, bright view on SE and I think the 'Alter The Course' video should be more prominent. It has good production value and quickly tells the story while unveiling the vehicle. It is a secondary link right now.

 

[Adamant]

So $30,000,000 for crash testing to begin? I believe that's what Paul said.