I believe the only stocks trading are the ones offered during the Reg A sale. I believe there are still millions of shares owned by Paul Elio, Stu Lichter, the board of directors, Black Sway and other "special" people. I also strongly suspect none of these are allowed to sell their shares until a specified number of years have passed.
Paul wanted to keep the company private and not go public. He has basically accomplished this. I don't believe any of the Reg A shares have voting rights and I don't believe EM must divulge the same finance information as a publicly traded company does. We may not even get any information about how many vehicles are sold. Paul went for the $25 million Reg A option. I believe I read that the $50 million Reg A option required divulging more financial reports. I believe those who purchased stock are viewed by EM as the necessary evil needed to get the company going and will basically be out in the cold while those holding large amounts of the more important stock will be the ones to know what is really happening.
This how it appears to me. I would like to hear other opinions.
Paul wanted to keep the company private and not go public. He has basically accomplished this. I don't believe any of the Reg A shares have voting rights and I don't believe EM must divulge the same finance information as a publicly traded company does. We may not even get any information about how many vehicles are sold. Paul went for the $25 million Reg A option. I believe I read that the $50 million Reg A option required divulging more financial reports. I believe those who purchased stock are viewed by EM as the necessary evil needed to get the company going and will basically be out in the cold while those holding large amounts of the more important stock will be the ones to know what is really happening.
This how it appears to me. I would like to hear other opinions.
