July 31st, 2017 - Tick Tock...

[Sailor Dog]

All I've seen are blog updates, no news, count hasn't been updated, etc. Top management spent all the money, on them first. Elio is 2nd.

We hoped, some tried, others just did. Nice idea, poor follow through. Money had to go somewhere, I don't know.

8/6 tick tock???!!! Planning on scooping up a few shares beforehand...hold your head up...yea...Go Elio!!!

 

[Donnyboy]

We don't know if management wasted the money or not. If this thing turns bad the lawyers and the SEC will be all over them like (insert your favorite dirty one liner). That's when we'll find out where every dollar went. Elio was going through the steps to get the ATVM loan, but we don't know where that stands now. I honestly think they spent the money doing everything required to get production started. Literally everything is in place!! Right down to the assembly line. The only thing they're missing are retail centers, but they won't need them at first because us reservation holders will be on the only ones getting cars. Oh and they're also missing a bunch of those little things called dollar bills.

 

[KenK]

Welp... the poll has closed and it seems the majority of participants don't think EM will be able to meet the $25mil income surge they need to pay off RACER Trust. This lack of funds seems to indicate monthly payments on this loan will start coming due on 1 August.

Can Paul give up shares to cover this debt? Is Elio Motors even worth that much with the stock in the crapper (currently about 1/3 of it's IPO value)? Will RACER grant more extensions? Will RACER eat up Elio Motors in $173K monthly bites? How long would that last?

Conspiracy angle: Was the stock intentionally sabotaged to let some third party sweep it up for pennies on the dollar? Is a last minute announcement going to send the stock surging and make someone filthy rich? Will this benefit Elio Motors in any way?

Nothing is finished, just a deadline reached and a whole lot more questions to be answered.

 

[Bookly]

Conspiracy angle: Was the stock intentionally sabotaged to let some third party sweep it up for pennies on the dollar? Is a last minute announcement going to send the stock surging and make someone filthy rich?

All indications are the opposite. Someone(s) propped the stock up in the 6 dollar range for weeks, and recently they appeared to have given up. Trading volumes are low - for someone to "sweep it up" they need some real volume. Given the publicly available information (no cash, large debt, no apparent financing prospects) the stock price today is rather rich.

 

[Rob Croson]

Even buying up all the public shares wouldn't do anyone any good. The vast majority of shares are owned by Paul. No one else could come anywhere near getting a controlling interest in the company.

 

[NorCalPhil]

I have 100 shares to print out and throw at the fat lady if she ever sings.

This is a lot more pathetic than I thought it would be. I remember Paul saying the ATVM loan was not their only option, but in many ways it looks like it was. Who lets their pet project go down this far, get this much bad press, and cause this much frustration/anger/anxiety to its core base of supporters if they have other options?

I thought the turning point was coming when I saw them drop that crazy speedometer idea and go with something normal. I figured if he would give up on that idea, his tribute to his father, that he would do what it took to push this across the line even if it meant giving up equity to get er done. Guess not.

 

[KenK]

Even buying up all the public shares wouldn't do anyone any good. The vast majority of shares are owned by Paul. No one else could come anywhere near getting a controlling interest in the company.

I have wondered, but not enough to look it up. Do you know how many shares were issued and how many are owned by Paul?

 

[Elio Amazed]

I have wondered, but not enough to look it up. Do you know how many shares were issued and how many are owned by Paul?

I don't know the figures Ken. I'm too lazy and disinterested at this point to look them up again...
But as I remember it at last count, there were a vast number of company owned shares that hadn't been issued compared to what's out there.

 

[voyager]

So it's August 1... Any news?

 

[LillyMayPatterson #1685 & #5648]

no