Trusting
Elio Addict
I wonder just how much it costs to build 25 test cars. Surely not $30,000,000..
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I wonder just how much it costs to build 25 test cars. Surely not $30,000,000..
its been acknowledged that the money will go for much more than just building the trikes .... refining and building jigs, crash and other testing, finalizing supplier network, and much more .... hopefully the info expected to be released after the supplier summit will make things clearer
My understanding was most of that $30 million in funding was needed for building the P5 and E-6-30.
that would be true .... the way that I understand it, the money will fund the next phase of the project and that includes a bunch of different things .... building them involves more than welding a frame, it includes helping fund building brand specific parts .... once the manufacturing capability is in place, subsequent parts can be rapidly placed .... I have no clue as to all the details but the whole project is a pretty extensive/expensive process .... throw in all the various testing and the cost goes higher
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Adamant
Elio Addict
But was Paul specifically talking about this money? Even when it hits $30 million, how is he going to get it? I thought this was something they couldn't touch until a certain point, moreso than just reaching $30 million?
I have no clue as to "his money" .... EM has several sources for raising money, so far as I know, all of it goes to meeting expenses as they move to production .... at some point they will begin contacting person who have indicated they wish to participate in crowd funding .... at that point money from the fund raising effort should start to come in
What was actually said by Paul, they needed 30mil to do the P5, and E1-E25, thru crash testing and engine testing. Since then was som amount from 506c and the desired 25mil from the A+. So they said they will be going forward with the P5 then they said going forward with the E1-25 build.
So if the A+ works out, eventually they will have collected more than the 25mil, but we have no idea by how much.
BTW, now at
116%
Reserved
$29,136,997
Ty
Elio Addict
Let's not forget that the current campaign is basically gauging interest in investing. The next step will be to seek SEC approval to offer stock for sale. Then, Elio will see some money from all this. I'm not sure how long the approval process is but I'd guess it won't be very fast. It could be several months before Elio sees this $29M-$30M.
Make sure to include the investments they have going for the qualified investors; the $5K minimum ( or was it $15K?) if your income was over $250K a year and you were worth some large sum not including the house.
From what I was told from the people at EM if has already taken in between $10 and $15 mil.
(I think we forget about that one because it is outside the budget of most of the people on here).
From what I was told from the people at EM if has already taken in between $10 and $15 mil.
(I think we forget about that one because it is outside the budget of most of the people on here).
Ekh
Elio Addict
P5. E1 - 25.