Latest On Production Date: Q4 2016

[Rickb]

Quite. The P5 build is predicated on the accredited investor filing already
done....presumably that takes into
account the IAV Debt.....

..........or at least enough cash to purchase one fully tested engine to use in the P5 Build.

 

[Ekh]

The SEC filing listed EM's debt.
Didn't it also show how much money EM had?
I would think EM would have at least $1.3 M.

Yes, and about thirty ways they MUST spend it ... legal bills, salaries, website maintenance, P4 tour expenses, and parts for the P5. Just for starters.

I think they have the first IAV engine in their possession, that it was not run to destruction, and will use in in the P5. Otherwise, we'd have heard SOMETHING about the fate of that engine -- "ran 2,000 hours with zero oil before failure," or something like that. But other than hearing it was a couple of MPG shy and a tad over spec horsepower, we have heard nothing.

We have also heard that minor design tweaks were being made for the production engine.

And that's it, I believe. And it's too little news on something that important. So enquiring, mildly paranoid minds, would like to know why.

 

[WilliamH]

I keep reading the doom and gloom forecasts put out by some of the other people on here.
Much like a junk yard dog with a venison haunch, they have latched on to the $1.6 mill R&D debt owed to IAV and are tearing at it till they get the marrow out of the bone.
They must have missed the payment agreement of $115,000 / mo which will dispose of that debt.
I'm surprised that they haven't gone crazy over the $9.85 Million note that has a forbearance agreement until 7/31/16.
Come on guys. This is just like any other big business deal. They are spending money that the don't have and writing promissory notes to cover expenses until they get a cash flow going. It isn't like putting money in your piggy bank until you have the full amount of your anticipated expense.
Maybe like the mortgage you probably had / have on your house. It was a long term loan with a payment schedule.

 

[Buckeyejake]

I made my $1,000 investment with open eyes. Would love my Elio now but I understand the process. Hang in there all.

 

[Smitty901]

I keep reading the doom and gloom forecasts put out by some of the other people on here.
Much like a junk yard dog with a venison haunch, they have latched on to the $1.6 mill R&D debt owed to IAV and are tearing at it till they get the marrow out of the bone.
They must have missed the payment agreement of $115,000 / mo which will dispose of that debt.
I'm surprised that they haven't gone crazy over the $9.85 Million note that has a forbearance agreement until 7/31/16.
Come on guys. This is just like any other big business deal. They are spending money that the don't have and writing promissory notes to cover expenses until they get a cash flow going. It isn't like putting money in your piggy bank until you have the full amount of your anticipated expense.
Maybe like the mortgage you probably had / have on your house. It was a long term loan with a payment schedule.

Lot of good in what you said . However when I signed a note for my home not a mortgage there was a clear path to cover that. There were assets backing that up. A plan bases on real world finance. The only thing ELIO has to offer investors at this point is Goodwill, some devolvement work a Great dream and some debt .
Goodwell can go a long ways in something like this but ELIO has lower the value of that by missing date after date.
As I had expected before IAV has a new engine ELIO has a bill to pay. Only then will ELIO have an engine. ELIO has a plant and a bill coming due.
As I have said many times before ELIO needs a money leader and less market hype to get over this. Not rocket science just look at how many times this has happened. Company I work for was almost lost , stock was at 50% of asset value. Take over launched threw marketing man that was CEO out ,replaced the board 12 months later Stock price over doubled. Company now not only safe from take over but almost took control of a much larger competitor .
ELIO has a product that will sell, 250,000 a year maybe not. ELIO does not need to sell the ELIO they need to build it. Get the ELIO on the road one two at a time anything that gets them on the street.

 

[WilliamH]

Lot of good in what you said . However when I signed a note for my home not a mortgage there was a clear path to cover that. There were assets backing that up. A plan bases on real world finance. The only thing ELIO has to offer investors at this point is Goodwill, some devolvement work a Great dream and some debt .
Goodwell can go a long ways in something like this but ELIO has lower the value of that by missing date after date.
As I had expected before IAV has a new engine ELIO has a bill to pay. Only then will ELIO have an engine. ELIO has a plant and a bill coming due.
As I have said many times before ELIO needs a money leader and less market hype to get over this. Not rocket science just look at how many times this has happened. Company I work for was almost lost , stock was at 50% of asset value. Take over launched threw marketing man that was CEO out ,replaced the board 12 months later Stock price over doubled. Company now not only safe from take over but almost took control of a much larger competitor .
ELIO has a product that will sell, 250,000 a year maybe not. ELIO does not need to sell the ELIO they need to build it. Get the ELIO on the road one two at a time anything that gets them on the street.

West Coast Custom or Foose Design could implement your onsey - twosey strategy. That isn't a car company and neither you nor I could afford a vehicle built that way. I could get a replica D type Jaguar from a couple places in England, but they are not real production cars. I think Elio is on the right track.

 

[Rickb]

EM is on the right track but has been derailed and at a standstill for a long, long time. I would like to see some tangible progress in a few weeks with the onesy P5 followed by the twosy E Builds.

 

[WilliamH]

EM is on the right track but has been derailed and at a standstill for a long, long time. I would like to see some tangible progress in a few weeks with the onesy P5 followed by the twosy E Builds.

I think we could say that the problem has been caused by the DoE and their old switcherroo. Call and imply that they want Elio to apply for a loan and then drag their feet for over a year. A year to review is not a reasonable amount of time. It's more like an attempt to destroy a company by jerking them around.


post edited to remove some inflammatory commentary

 

[Ekh]

The P5 is designed and engineered to fit the new IAV engine and drive train reflecting an overall design freeze as it moves to the E Builds, testing, and any final 'Tweaks' needed. I can't imagine the scenario that EM would fabricate an Elio shell and slap a Geo Metro engine in it.

Wouldn't you think that of the millions in funding secured for the P5 build that $1.3 million of it may be earmarked to pay off the IAV balance to insure a totally complete start your engine P5. If not the P5 has no milestone value.

RickB, the geo motor isn't the motor in question. The motor they may still have available was the one the was started, and received some testing, in February. I thought my post had made that abundantly clear. Guess not. So I have edited it to be absolutely specific.

 

[Ekh]

I think we could say that the problem has been caused by the DoE and their old switcherroo. Call and imply that they want Elio to apply for a loan and then drag their feet for over a year. A year to review is not a reasonable amount of time. It's more like an attempt to destroy a company by jerking them around.


post edited to remove some inflammatory commentary

I disagree. I think it entirely possible that DOE is waiting to see if Elio has "the real stuff" to make funding them worthwhile. In which case, it's a good thing they're waiting, and not a "switcheroo." It is possible, possible, I say, that EM actually requested DOE to sit on it a while til the case was more strongly made,.