Elio Crowdfunding

[Ekh]

The new rules allow a company doing its first offering to file on a non-public basis to get initial feedback. We don't know if EM took advantage of this procedure. I would, if I were filing the documents.

They're usually pretty quick on the uptake, but they DID have to learn the hard way that the ATVM required audited financials, which til that point they did not have -- at all, at all.

 

[BADBOY]

If you consider a million every 5-6 days as dribbling in, well, you're right. I imagine they have the paperwork about ready to go, just need to plug in some numbers. Meanwhile, if you were getting, let's say, $1,000 a week from a Craigs List ad, wouldn't you want to keep it running a while?

no I would take the amount I thought I might get and file immediately. That was the goal to move forward and it needs to be reported.

 

[Cache Man]

Not quite. They can continue to "test the waters" until the SEC qualifies the offering circular. Then, they send the offering circular to those interested and can take checks. They can stop getting the expressions of interest whenever they want.
And, $30 MM is real money, not politics.

I guess you didn't understand... The money is real and the offers are real (99%). The "politics" is to show interest rather than to gain money. This is per EM. The Crowd Funding is a very small part of the needed money. EM is running several fund raising programs. EM stated that they are going to allow it to run for a while and it is mostly to show interest. The SEC application for the funds follow after EM stops the Crowd Funding as EM applies for the funds/pledges. The SEC doesn't initiate it. I believe the number stated was about $40M if it hits that mark or by what ever date they have in mind. Oh, ya... There is politics in funding a start-up auto manufacturer. The show of interest/expression "shows" there is a large interest and then there is a higher change of the government loan and/or other big investors. Rusty of EM stated that they are about 80% of the needed funds (without this crowd funding) and they're waiting to make sure they will have a solid foundation once production starts by having all the funding in place.

 

[LillyMayPatterson #1685 & #5648]

$29,524,247
in non-binding indications of interest received so far
7999

 

[LillyMayPatterson #1685 & #5648]

Got a question for Chris F, please. Since Start Engine can continue the 'water test' and the practice filing and the filing at the same time. We might not be privy to know when they actual file, they might have already, right? Oh, I hope so.
And since we were not privy to knowing how much was raise from the credited investor, we might also not be privy to knowing how much is raised with this phase neither, right? Or do they have to devolve that to us in the IPO and in the periodical mandatory reports to us,as stock holders?
I am thankful you and EHK are on this forum too.

 

[LillyMayPatterson #1685 & #5648]

Well, they did it, over 8 thousand pledges. That is a nice kick in the eye to the dark side.

118%
Reserved
$29,542,497
in non-binding indications of interest received so far
8006
Reservations

 

[Adamant]

Well, they did it, over 8 thousand pledges. That is a nice kick in the eye to the dark side.

118%
Reserved
$29,542,497
in non-binding indications of interest received so far
8006
Reservations

At this rate, they very well may reach $30,000,000 by Friday night.

 

[AriLea]

I am still sticking to my 20% dropout prediction. I am at least 100% sure of my $5K

Keep this in mind, if response does fall short, I don't think EM has to keep the offer within the population who first registered interest. They are only required to keep the offer inside the SEC requirements that establish the 'deal'. I think EM maybe required to make the offer to the registered people for up to their amounts. And it doesn't have to stay to those coming though the SE website.

 

[grampi]

Wow, I've been away for so long I just found out that Zelio had passed away. That is so sad. Does anyone know her cause of death?

 

[NSTG8R]

Wow, I've been away for so long I just found out that Zelio had passed away. That is so sad. Does anyone know her cause of death?

She passed on the operating table. Heart surgery I believe. And yes, very sad indeed.