Elio Crowdfunding

[Ekh]

Reality check. We are not waiting on an approval from the SEC. We are waiting on a decision from the SEC. Decision could be denial. Ok, back in the closet. Bye.

Go back and hide. SE campaign has demonstrated overwhelming interest. The prospectus was prepared by pros. The SEC will approve it with (most likely) a few nits just to show who's in charge. Were they to turn it down the uproar would be heard around the world and the screaming in the press wouldn't die down in a hurry. So they will approve it. No question.

 

[bunchathrees]

Go back and hide. SE campaign has demonstrated overwhelming interest. The prospectus was prepared by pros. The SEC will approve it with (most likely) a few nits just to show who's in charge. Were they to turn it down the uproar would be heard around the world and the screaming in the press wouldn't die down in a hurry. So they will approve it. No question.

I'd like to think that they will do their job independent of pressure. If there are underlying problems that laymen like me are untrained to detect, I'd want them to force corrective action or deny the petition. Being the first one, I suspect Elio and SE tried to sweat the details to avoid even the possibility of rejection.

 

[Jim H]

I just received the crowd funding email from Elio concerning the proposed 7-day purchase window. Hope they give us a few days notice before it begins so we can make arrangements to take money out of our IRA's



October 16, 2015


Hello James,

As you may be aware, we have filed with the Securities and Exchange Commission (SEC) seeking authorization to make a formal stock offering. This letter is the first step in keeping you up to speed on how this process is likely to unfold.

Proposed Limited 7-Day Purchase Window

Upon receiving authorization from the SEC, we plan to create a seven-day window of opportunity to purchase stock for those who have reserved shares in Elio Motors via Startengine. Should you desire to purchase shares, it will be very important for you to take advantage of this window of opportunity when it is presented. We anticipate that some of those who have expressed interest may change their minds. However, there is a very real chance that we will receive purchase requests above our goal.

Current “Over-Demand” for Shares

As indicated on the Elio Motors StartEngine page, we are currently anticipating more demand than we have available stock to sell. Expressed interest is currently 158% over our goal at nearly $40 million. It is our goal to give all those who indicated interest an opportunity to purchase those shares before it is opened to the general public. As noted in our Preliminary Offering Circular, Elio Motors will have the ability to authorize up to $30 million in subscriptions, even though our current need as established by management is at $25 million. It is our intention to sell only $25 million of stock, but if management decides to make more shares available, we have the option to increase our subscriptions to meet the need.[1]

How We Will Handle an “Oversold” Situation

If we surpass our stock offering goal (whether it is $25 million or as much as $30 million) during the seven-day window, we will provide a pro-rated refund for a portion of any investment over the $600 minimum. This will attempt to ensure that all those who reserved non-binding expressions of interest prior to authorization are able to secure shares in Elio Motors.

In the coming days, we will provide more detail into how the entire purchase process will work. It is important that you check your email regularly to keep informed of our progress, process and timing, should we receive authorization from the SEC.

This is an exciting time in Elio Motors’ history. Thank you for coming along for the ride.

The Elio Motors Team

 

[lnwlf40]

I received this email as well, and now we have another thread going on the subject.

 

[W. WIllie]

Yes, but it is more helpful than some of the "assumtions" from others.

Willie

 

[Elio Amazed]

Jim, my advice is to transfer the funds to your card account now.

 

[Elio Amazed]

BRING IT!

 

[LillyMayPatterson #1685 & #5648]

WOW ! I left the house about 11:00 this morning to do some important earnings. I saw the beginning of the effect of this letter before I left, on the start engine site. Wondered all day, just what set it off after a miserable last few days. Super Thanks to Jim for the post. Kind of pisses me off (what doesn't this week?) is everybody that pledged is going to have a chance to buy only $600.00 worth of stock, iffing I read that right. Is that what is said???? I just hope there is lots and lots of troll or false pledges and I will be able to buy my whole pledge.
Great advise Amazed. Did that the first of July. It was like looking at my own independence day. Prettiest visions just looking at it brought on. Maybe a year or two for my favorite Granddaughter Hannah's college education. This is the craziest thing I've ever done. Never had a chance to do it before. I have such high hopes. But, peeking down out of the clouds, it just might only be the craziest thing I've ever done, lol.

 

[HonestTex]

The way I read it, everyone that pledged will be able to buy $600 worth. Every one that buys more will get the remainder in full if there is enough left. If not, you will at least some of the remaining stock, and some of your money back. So buy what you want, and see what you get.

 

[Anderson Howard]

The way I read it, everyone that pledged will be able to buy $600 worth. Every one that buys more will get the remainder in full if there is enough left. If not, you will at least some of the remaining stock, and some of your money back. So buy what you want, and see what you get.

We must be reading the $600 total wrong. Isn't that the least we can buy and go up from there.