January 15, 2015 Delay And Delay Repercussions Discussion - All Others Will Be Combined!

[BADBOY]

I believe just about everyone would love to see the government loan come through as that would pretty much solve EM's funding issues in one swoop and everything would push forward as fast as possible towards production. Hopefully we do get good news on this front relatively soon.

Just to clarify EM does not have $60m on hand that is just what they have raised, and mostly used, to get the project to this point. They have several million dollars on hand however this is only enough to keep operating the company and tour however everything else needs to be slowed or halted as they do not want to burn through it too quickly.

The way it was explained at the town hall is that the tight spot EM is in now is pretty much directly caused by it taking longer to get the old equipment on the market and sold than they expected as that money is what their plan called for them to be using to complete the engine and vehicle development program and finance operations ahead of production.

ah thanks for clarification as I did think $60 was to be used going forward.

 

[ecdriver711]

G1, does EM have the money to at least have engine development finished?

 

[Rickb]

Is this story about the billionaires really true? I mean can you prove that statement or is it just left wing BS?

Independent BS based on years of observation and political fact checking.

 

[goofyone]

G1, does EM have the money to at least have engine development finished?

As far as I know this initial round of engine testing will be completed as scheduled. Also as the equipment sale money comes in the priority is for the next steps in the engine development program. To me this is a smart way of handling things as the engine development is the biggest single thing EM really needs to push forward to ensure they have this well developed when they do have more funds to complete the full vehicle testing and eventually production.

 

[Horn]

So the company selling the equipment has only 59 sales on ebay. Their highest priced item sold was $1925. They have also only bn on ebay since last year.

The most expensive item for 1.75M and has no real description....

Seems weird, but hey, its on ebay for 30 days. We will see results then. Maybe they are a new company that just got their first big job.

 

[goofyone]

So the company selling the equipment has only 59 sales on ebay. Their highest priced item sold was $1925. They have also only bn on ebay since last year.

The most expensive item for 1.75M and has no real description....

Seems weird, but hey, its on ebay for 30 days. We will see results then. Maybe they are a new company that just got their first big job.

It looks to me like their partnership with Comau is likely what is relatively new however their main Ebay site has been around since 2008 and has been operating under its current name since 2010 so they do appear to have experience at doing this kind of used equipment sales work.

http://www.ebay.com/usr/automationrecovery

http://www.automationrecovery.com/

 

[Horn]

It looks to me like their partnership with Comau is likely what is relatively new however their main Ebay site has been around since 2008 and has been operating under its current name since 2010 so they do appear to have experience at doing this kind of used equipment sales work.

http://www.ebay.com/usr/automationrecovery

http://www.automationrecovery.com/

Makes sense. They dont seem to sell a lot of high priced items though. Oh well. We will see in 30 days. One thing I see is they often accept offers. If they do on this equipment, you will never really know how much they got for it

 

[Trais]

I believe just about everyone would love to see the government loan come through as that would pretty much solve EM's funding issues in one swoop and everything would push forward as fast as possible towards production. Hopefully we do get good news on this front relatively soon.

Just to clarify EM does not have $60m on hand that is just what they have raised, and mostly used, to get the project to this point. They have several million dollars on hand however this is only enough to keep operating the company and tour however everything else needs to be slowed or halted as they do not want to burn through it too quickly.

The way it was explained at the town hall is that the tight spot EM is in now is pretty much directly caused by it taking longer to get the old equipment on the market and sold than they expected as that money is what their plan called for them to be using to complete the engine and vehicle development program and finance operations ahead of production.

I'm not sure I want the government involved with the funding, but whatever it takes to get this company producing an awesome little car! That said I wonder what Paul and Board of Directors are taking off the top for salaries and per diem? Looks like I'll be waiting till Fall of 2016 (only $100 all in, was going to upgrade to $500, but will pass for now!) for my delivery, but realistically for me it will be 1st quarter 2017! I do hope I'm wrong, but feel they won't start production until 3rd quarter 2016, as a 2017 model.

 

[Ty]

I'm not sure I want the government involved with the funding, but whatever it takes to get this company producing an awesome little car! That said I wonder what Paul and Board of Directors are taking off the top for salaries and per diem? Looks like I'll be waiting till Fall of 2016 (only $100 all in, was going to upgrade to $500, but will pass for now!) for my delivery, but realistically for me it will be 1st quarter 2017! I do hope I'm wrong, but feel they won't start production until 3rd quarter 2016, as a 2017 model.

I don't know what they are taking but I know Jerome and Pam sold their house to travel with the Elio road show.

 

[WAYNE]

I joined this Forum in Feb 2014. Most of the posts were about what we wanted on the Elio. (ancessories Ect) Even then I knew that it would be about the funding if Elio could make it happen because of the past delays. Hoping that fall of 2014 would be the magic number I went all in with confidence it would happen. I droped off this forum when the production date went to early 2015 and only peeked in once in awhile. Now, It's another year down the road. I'm still hopefull that I get my Elio but I've thrown away more than a hundred bucks just partying so the money is not a deal for me.
Now, the date is kicked up another year so I will sit back and relax again for another 12 months and peek in once in awhile. Z is gone but not forgotten. I'm not as patience as she was, but still hopefull.
See ya'll in 2016. Good Bye again and good luck to all. Remember.....It's always about the MONEY