Elio Crowdfunding

[Sethodine]

What I can't figure out is why they're not going for the whole 50 million which they are authorized to get in one year

I believe they only submitted paperwork with the SEC for "between $25m and $30m". At least, that is how I understand their email. It would probably be another 3-6 months to get that other $20m, and I think EM suspects--as we do--that a portion of the $40m is due to troll/non-serious offers.

 

[AriLea]

165%Reserved$41,294,551in non-binding indications of interest received sofar11009
Here are the 'final' charts.

 

[Rob Croson]

I believe they only submitted paperwork with the SEC for "between $25m and $30m". At least, that is how I understand their email. It would probably be another 3-6 months to get that other $20m, and I think EM suspects--as we do--that a portion of the $40m is due to troll/non-serious offers.

The original paperwork stated they wanted to go for $25-$30 million. They *could* have filed for the full $50m allowed by law in the original submission, but did not. I think people want to know why they didn't file for the full $50m in the original submission.

IMHO: They are confident that they don't need any more than $25m-$30m. They must feel that private backing from qualified investors, the ATVM loan, and the additional $25m-$30m from the public offering are enough.

 

[cantwait]

What I can't figure out is why they're not going for the whole 50 million which they are authorized to get in one year

I wondered about that until I read the SEC filing. If they do not received at least 50% of the requested amount, the offering is canceled and all the monies have to be refunded. By shooting for a smaller minimum, they are more likely to be able to move forward. Also, they are able to ask for a higher upside cap, and accept funds up to the higher cap.

 

[LillyMayPatterson #1685 & #5648]

Very interesting Cantwait. Thanks for explaining it simple for me, lol. And welcome to the forum.

 

[Ekh]

I believe they only submitted paperwork with the SEC for "between $25m and $30m". At least, that is how I understand their email. It would probably be another 3-6 months to get that other $20m, and I think EM suspects--as we do--that a portion of the $40m is due to troll/non-serious offers.

They did only submit paperwork for that amount, but they are allowed to take in $50/mm per year through crowd funding. Maybe the 506c placements earlier count towards that amount; I don't know. But that only raised between 5 and 10 million, enough for the P5 but not for the whole series of e-cars. So there is a gap, and amending the paperwork might do it; there are obviously things going on that we don't have access to or understand, because on the face of it, stopping short of the amount already in "expressed interest" seems odd to say the least. They might not collect it all, but not even asking for it ... now that seems strange to me.

 

[LillyMayPatterson #1685 & #5648]

$25,000,000
Funding Goal
166%
Reserved
$41,725,909
in non-binding indications of interest received so far
11092
Reservations

That was $119,558.00 since 11:17 am this morning with only 7 new bids. Was any body watching?

 

[AriLea]

I still check it out of curiosity. It looks like it may hit 170% or more if the sec doesn't respond too soon. It would be nice to see the final number when the gate finally closes. I think the pure numbers have exceeded everyone's most optimistic estimates. One of the biggest affects maybe to have put Elio Motors on the map for investors and policy makers who were not noticing up to now.

 

[Ekh]

$25,000,000
Funding Goal
166%
Reserved
$41,725,909
in non-binding indications of interest received so far
11092
Reservations

That was $119,558.00 since 11:17 am this morning with only 7 new bids. Was any body watching?

That cannot be sane or real

 

[LillyMayPatterson #1685 & #5648]

I got a better one tonight Ekh. 13 people pledged today with an average of over
$13,500.00 EACH !!! Maybe it is real. I wish it is be real. So it is real. Well Maybe ...