Jalopnik Claims Elio Has Only $100k In Bank, $123 Million In Debt

[TMOSteel]

Paul Elio's company may be in jeapardy and the Elio may never see the light of day. Form your own opinions...

http://jalopnik.com/elio-motors-future-looks-doubtful-with-100-000-in-the-1790947889

Actually, jalopnik just lifted this article from other sources, as I posted this in the What Is Elio Stock Trading For Today? thread on Saturday, from this article:

http://www.ktbs.com/story/34187485/elio-motors-further-delays-production-in-shreveport

 

[KenK]

"Recently our CEO was attributed to several quotes with statements on the company’s financial health by small news entities and blogs. They are not direct quotes from our CEO. They were taken from our financial statements, which are public reports that include standard risk statements and disclaimers. They are designed to communicate the various risk factors for investing in a start-up company and are part of thousands of reports submitted each quarter by public companies to the Securities and Exchange Commission."

https://www.eliomotors.com/bring-on-2017/

 

[Trusting]

To be or not to be; that is the question. Whether we get our cars all depends on money. If Elio gets their government loan, we'll get our cars, but if they don't, we can kiss our deposits goodby. Looks to me like what Elio needs is some major publicity. The car is a great idea but the simple fact is most people don't know about it, if all Americans did they could put pressure on the government to give Elio the money. So, how do we get nation wide publicity? We need something to make headlines on the evening news of all networks. I have several ideas, unfortunately they are all illegal or involve personal humiliation. Anyone care to make a suggestion?

 

[booboo]

I would suggest it is about Count De Money now.
I would also suggest that the US Dept of Energy ATVM loan is not the only pair of pants on the planet with 300 million dollars in its back pocket.
If you know one of the approximate 2,000 Billionaires around personally , just ask politely.
Heck, If I were Paul, I might even ask "The Waltons" if they would like to invest in Elio's and sell them at their country stores.

 

[AC1972]

Jalopnik is a two bit, web blog that likes to exaggerate to get hits. It's the supermarket tabloid of online car sites.

I've read several articles and that site is all crap.

That said, the facts are in the SEC filing. Elio needs cash and additional investment. But the facts are being sensationalized. I'm willing to bet the writer lives in his moms basement.

 

[AC1972]

I would suggest it is about Count De Money now.
I would also suggest that the US Dept of Energy ATVM loan is not the only pair of pants on the planet with 300 million dollars in its back pocket.
If you know one of the approximate 2,000 Billionaires around personally , just ask politely.
Heck, If I were Paul, I might even ask "The Waltons" if they would like to invest in Elio's and sell them at their country stores.

The Elio is novel and inexpensive, and designed to take advantage of aftermarket technologies as an intentional strategy. They should approach Waymo for investment, and start offering the waymo more self driving aftermarket solution as as option. How long will it take traditional automakers to take advantage of this? Folks could have a self driving car for under $20k in no time. The technology could be mainstream and in more garages way sooner than with traditional vehicles, and Google has deep pockets.

 

[Rob Croson]

That said, the facts are in the SEC filing. Elio needs cash and additional investment. But the facts are being sensualized. I'm willing to bet the writer lives in his moms basement.

Sensualized financial statements... is that something like porn for accountants?

I think you mean "sensationalized"...

 

[johnsnownw]

Sensualized financial statements... is that something like porn for accountants?

I think you mean "sensationalized"...

Sophophilia

We are all of us made differently.

 

[RUCRAYZE]

I would suggest it is about Count De Money now.
I would also suggest that the US Dept of Energy ATVM loan is not the only pair of pants on the planet with 300 million dollars in its back pocket.
If you know one of the approximate 2,000 Billionaires around personally , just ask politely.
Heck, If I were Paul, I might even ask "The Waltons" if they would like to invest in Elio's and sell them at their country stores.

I think going to the Waltons would be as successful as going to the Beverly Hillbillies. ( me smiling)
Walmart only buys what they can squeeze out of manufacturers. They don't need to invest in anyhing other then themselves, however, I'm sure they would be delighted, if they could contract to buy them for cheap.
I see the future (more clearly now after cataract surgery) that an Indian or Chinese Co. will fill the void- heck they've been making 3 wheel vehicles for decades, easily match the 7k, and could probably get itup and running in < 1 year.

 

[Devilstower]

The two numbers are a bit deceptive. Debt includes obligations such as the value of outstanding stock and the unrefundable deposits, which aren't exactly swords hanging overhead.

Take a look instead at assets and costs. Elio ran about $5m in the hole, which isn't that bad for a company still in start up. What is worrisome is that Elio's pace of development seems so slow that it seems likely they'll burn through remaining funds in the next six months without a fresh infusion, and there seems no obvious source to even begin moving to production.