Financing Elio Motors Development And Production

[Ocean9000]

So I can buy one share/unit/chunk of EM bonds for $15K?

 

[Smitty901]

Keep in mind Bond holders no longer have the protections they once did. That makes Bonds a bigger risk now.

 

[Chris F]

So I can buy one share/unit/chunk of EM bonds for $15K?

No, you can't. Existing customers of the broker can, if they meet the qualifications as an "accredited investor."

 

[Ocean9000]

Damn, I thought I saw a way to pay for my Elio and finance my retirement,

 

[BADBOY]

This mostly confirms what we already know which is that Corporate Fuels Securities is a broker for a private placement stock offering, or technically a 506(c) stock offering, and that this sale is indeed now underway.

The interesting bit is that this document lists $30 million as the amount EM is seeking right now, up to $2.1 million of which is to be paid to Corporate Fuels Securities as their commissions for raising these funds, and up to another $4 million could be paid to the listed EM board members.

My guess is that this is indeed EM making sure to have all their ducks in a row in advance of the NY Auto Show. It does appear that this show will be just as important to EM's financing goals as it will be in terms of coverage by the auto industry media.

$4 million to board?

 

[goofyone]

$4 million to board?

I have been wondering about this myself and the problem is that there is just not enough information to say much about it. There are plenty of perfectly valid reasons this could be happening such as business transactions with companies controlled by board members.