Elio Crowdfunding

[LillyMayPatterson #1685 & #5648]

Number one thing they could do is check the IP number of the bids coming in. SE just caught two bad bids in 3 minutes. They are caught up and on the ball.

 

[Reid3400]

interesting, I don't know that I'd classify post used to ask and answer questions as nonsensical .... I think it would be pretty safe to bet that more people aren't familiar with the intricacies of securities law that there are who do .... can't speak for anyone else but I know that for me a good way to learn is to ask questions

I take your point but there are a lot of statements (not questions) made on how to handle the problem of false bids which are simply wrong. This is only a second offering by Startengine so we can accept there will be problems. We should also accept that up to 50% of the pledges will evaporate. Startengine has no long term track record for us to gauge what is real. Non-binding expression of interest is a pretty fuzzy indication of commitment.

From my experience with 10 committed investors, committed to 10 calls of $10K, 10 were in on the first call, 7 stayed in on the second call and only 2 remained on the 3rd call. In other words 10 people invested $10K and dropped out, while 7 invested $20K and then 5 dropped out. 2 guys got 50% each for $30K. This became a multi-million dollar business and is still running 34 years later. The securities lawyer told us, this was typical. Maybe someone else has had a different experience?

 

[JEBar]

We should also accept that up to 50% of the pledges will evaporate.

up to 50% covers a pretty wide band .... if as has been reported :

Currently we have 5,559 investors who have expressed interest in an Elio Motors investment at an average of roughly $4,000 each, out of which 72 percent of those investors come from our reservation holders and other fans of the company..

72% of the potential investors are reservation holders and other fans of the company, it would see that the conversion to actual investors with this offering should be pretty strong .... that percentage should be magnified with the disqualification of fraudulent pledges .... I have no clue where the final number will fall but it would seem logical to believe it will be pretty good

 

[Chris F]

just wondering .... based on your experience, what would be the best way to proceed so as to determine if prosecutable laws have been broken

Its up to SEC Enforcement. You can call in a tip, but they never tell you if they act on it until there is an action filed. I would bet they are already on it, given the last Elio release regarding the rollback..

 

[Chris F]

Well due diligence is still working, they ripped 2mil more out. It may take longer to see the goal, but each rip makes the total more reliable.

At this level of fraud, as you probably know, I'd have to say the goal was to stop the funding by hitting the target too early. There is nothing stopping SE from putting more excess in the suspicious pile, and keep the collection going to a more reliable result. It's a way to compensate at least.

All the trolls can do at this point is keep messing with the presentation numbers. I really think all this skullduggery is just going to make Elio seem more interesting. Everybody likes a mystery.

I agree. The manipulation of a start-up's offering will catch some attention.

 

[Reid3400]

up to 50% covers a pretty wide band .... if as has been reported :



72% of the potential investors are reservation holders and other fans of the company, it would see that the conversion to actual investors with this offering should be pretty strong .... that percentage should be magnified with the disqualification of fraudulent pledges .... I have no clue where the final number will fall but it would seem logical to believe it will be pretty good

Are you assuming 100% of the reservation holders are going to purchase? Or just assuming the 72% are all going to purchase an Elio and shares? Do you know that timeshares are oversold by 40% because 40% of the owners never show up? Many reservation holders will have died before their trike gets made. Others will have problems which will prevent them from buying in the end. Just opinions. Wait and see.

 

[JEBar]

Are you assuming 100% of the reservation holders are going to purchase? Or just assuming the 72% are all going to purchase an Elio and shares? Do you know that timeshares are oversold by 40% because 40% of the owners never show up? Many reservation holders will have died before their trike gets made. Others will have problems which will prevent them from buying in the end. Just opinions. Wait and see.

I have no way of knowing how many will actually purchase an Elio and make no pretense of doing so .... I tend to believe that the percentage will be pretty high but would be highly skeptical about anyone who professes to have certain knowledge .... I do have some experience with timeshares, CG memberships and such .... I don't think purchasing a timeshare is a good analogy for purchasing an Elio .... the product itself, the cost, the novelty, use demographics just don't line up .... time until production can most certainly be a negative factor, we have already had a few members to pass .... the percentage of valid reservations that translate to an actual purchase of stock might be a decent early indicator

 

[Ekh]

Many reservation holders will have died before their trike gets made. Others will have problems which will prevent them from buying in the end. .

Zelio, bless her, did die while waiting for her trike. I'm profoundly hoping that I don't join her before my Elio shows up, and that I'm still healthy and fit enough to drive it! (70 next month. ugh). But seriously, "many" suggests more than a handful ... and I sure hope you're wrong about that!

 

[LillyMayPatterson #1685 & #5648]

OK, This is border line against the rules but I think Zelio is still here. All these successes and milestones. Naw, same goes with me. If I pass before my elio comes, I'll be with Zelio to guide this project through. Did you see the SE caught two cheaters within 10 minutes TWICE this evening. They are on the ball.

 

[AJ Maxey]

At this rate, after avoiding all of the bad bids, we should see $25M by Monday I think.