Elio Crowdfunding

[Ian442]

I bet that crazy lady Kathy Tea Bagger White Crazy broad is about to blow a gasket in 3 2 1....

 

[John Painter]

I bet that crazy lady Kathy Tea Bagger White Crazy broad is about to blow a gasket in 3 2 1....

I think her FB account was hacked, her posts now are totally sedate. I actually liked her arguments, though I didn't agree with her on much.

 

[LillyMayPatterson #1685 & #5648]

<--- TEA BAGGER.

 

[AriLea]

Just wanted this letter online since it's pertinent to the subject.. Forgive me if it's been posted already,,, a little motivation for those who didn't follow through(like me), what ever the reason...

January 12, 2015


Hello XXXX,

First, we wanted to thank you for your interest in Elio Motors. During our “testing the waters” phase, you expressed confidence in Elio Motors by reserving shares, joining almost 12,000 others who also showed their desire to own a piece of the future. For whatever reason, however, we show that you have not yet completed the purchase of your shares.

On November 20, 2015, Elio Motors opened an exclusive window to purchase shares for those who had expressed non-binding interest during the “testing the waters” phase. Then on December 3, 2015, we opened up the sale of shares to the general public. Due to the success of this campaign in raising the necessary funds to enable the development of the E-Series of test vehicles, it was announced at today's North American International Auto Show press conference that the remaining limited shares will only be available for purchase until February 1, 2016. What this means is that you only have a short window to make an investment through the company's current Regulation A+ stock offering.

Because of your interest in Elio Motors and your desire to be in on the ground floor of this pioneering opportunity, we wanted to encourage you to complete your purchase of shares. But you need to hurry. With less than 3 weeks left, your window is closing quickly.

Purchase your shares in Elio Motors before February 1, 2016 by visiting http://www.eliomotors.com/equity.

Sincerely,

The Elio Motors Team

 

[Sethodine]

Any word on if they're lowering the minimum buy-in?

 

[Johnny Acree]

Why did the letter send you to eliomotors.com, instead of startengine.com?

 

[Chris F]

I would have been disappointed had they not met the $12.6 million threshold by the end of the year. I never put much stock (so to speak) in the expressed interest. There were probably many who decided against investing when they saw the size of the stake and essentially full instant dilution of the value. There were probably others who were only curious about the process and never really intended to invest and still others who considered investing and expressed the maximum dollar value they could just in case that was used as a limit when the stock sale went live.

Ultimately, the success or failure is whether it serves the purpose of funding the E-series builds and testing necessary to get to production. And EM's statements on that front are all positive. Remember, this was the first attempt at this sort of funding on this scale. There were no benchmarks to use to gauge progress along the way, so simply achieving the desired outcome is a huge success.

There were a lot of spoofed "expressions of interest." I guess startengine couldn't weed them all out. And, sometimes its hard to get someone to write the check.

 

[Chris F]

Any word on if they're lowering the minimum buy-in?

I doubt they would do that.

 

[Chris F]

Here is hoping one of us wins Powerball as was mentioned in another thread, and decides to fund the rest of project. Feb 1st is the deadline but as it stands right now I purchased what I could and it doesn't look like I'll have any more cash to spare for some more shares before that date.

Unless of course the planets align just right tomorrow night...

If you have $1MM to invest, you can get the stock for less than $12 a share.

 

[Sethodine]

I doubt they would do that.

That's what bugs me. The reason they raised it seemed to be something along the lines of "The average expression of interest was around $1000" so they figured the low-ballers like myself weren't worth their time. But now that we see how many of the high-value expressions where totally bogus, perhaps the true "average" was in-fact lower, and they just cut a whole lot of possible dollars out of the equation. Of course, we'll never now how many of the low-value expressions were genuine or not, but don't forget that the highest grossing crowdfunding project of all time ($105,189,806) had a minimum contribution of just $1.

I've supported a few projects on Kickstarter, but never in my life have I contributed even $100. My initial buy-in of $300 was far and above anything else I've ever considered, yet that was thrown right back in my face. As much as I love the Elio and am excited about owning one, that still hurt.