Elio Crowdfunding

[userexec]

Anybody else want to join the pool -- how many investors will it take to reach $25 million? Entries close when it hits $24 million.

Earlier today two people kicked in $50K apiece, and it skewed the average contribution --

10:38 pm EDT $20,686,625
5250 investors

Average dollar / investor $4762

Ya, I'll hop in with 6535

 

[Ty]

no,no,no, I'm just saying EM get's the 25mil commitment by then. I don't know if they can exceed or what.

I'm guessing as soon as 25mil is completed, and then the 30days, EM will do their submission to the program, then StartEngines releases the emails to EM, who will follow through with the offer/invitations. I don't see any reason for StartEngines to stop gathering commitments until after EM finished preparing their offer/disclosures.

One of the definitions the offer must have is stating the maximum investment they will be acquiring and what type of investor the population is, I would guess. Then the investors will better know the value and conditions of the investment.

I am sure the government requirements do not limit EM to adding investors out-side of StartEngines. So at the 30day mark, EM may well be able to gather more investors, should the actual money returned fall short. The only time EM is locked down on the requested amount is when the submission is made to the government. Then EM is allowed to do what they can to seek that amount. -as a guess-

Elio is legally capped at investor's total investment. It cannot exceed $50M regardless of how the funds come in. They'll have to get the rest from accredited investors.

 

[Ty]

8360 is my guess.

 

[AriLea]

Monday morning should see 22mil reached, 21 sometime between the night and the morning tomorrow.
The rate and randomness seems to average out the same way each day. 25mil by thursday.

Gosh waiting for the P5-6 to show some activity is going to be very hard. I'm going to need my hobbies just to get my mind off of it!

 

[Ekh]

Sunday morning 8:08

$20,745,625 Investors 5277

I'm guessing 21 mill by 1:00 PM EDT. 22 Mil by 3:00 PM Monday. But who cares, as long as it all comes in.

 

[LillyMayPatterson #1685 & #5648]

This is going to run it the end of the month. The more exposure the better. More people will follow through and better chance to get this started on time.

 

[Ekh]

Duration of "testing the waters". I've been unable to find a rule governing how long "testing the waters" can last. None of the sources I've checked -- all consulting firms plus Forbes Magazine's article on the subject -- have said a word about duration. Which means, I don't quite see where the 30-day limit on EM's startengine campaign comes from, or even if it's real.

Anybody know where it's stated that the is campaign is restricted to 30 days? (I bet we make the goal by then anyhow).

 

[LillyMayPatterson #1685 & #5648]

Anybody know where it's stated that the is campaign is restricted to 30 days? (I bet we make the goal by then anyhow).

No, I haven't seen the rule, but in the beginning of this campaign, Elio stated this phase was June 19th to July 31st. I marked it in my calendar.

 

[Ekh]

Thanks. My contact at Elio says this is all being driven by the lawyers and SEC at this point ... and there's only so much information they're legally allowed to share about how the campaign is progressing.

I'm just thrilled it's going so well, even if it is only "interest" and not "here's my check."

 

[JEBar]

No, I haven't seen the rule, but in the beginning of this campaign, Elio stated this phase was June 19th to July 31st. I marked it in my calendar.

I really believe that the concept of "testing the waters" governed the start of the program .... the start/stop dates were self imposed to do just that .... EM knows they have a strong core following .... they know they have been asked repeatedly by (apparently) a significant number of average people if they could help financially support the project .... what they didn't know for sure was just how strong that support is .... given EM's strong need to raise significant funding in a hurry, it seems reasonable for them to test a program for a relative short period ....