New Funding For Elio!

[RSchneider]

https://www.theverge.com/2018/4/24/17274780/elio-motors-overstock-investment-offering

 

[ecdriver711]

A start.

 

[RSchneider]

https://ir.eliomotors.com/press-releases/detail/62

 

[booboo]

A start.

Agreed. Only a start, but it is good to have another loud voice on our side.
https://en.wikipedia.org/wiki/Patrick_M._Byrne

 

[Samalross]

Stu just got his convertible debt dropped from $9 (I think, wish Rick B could tell me exact price) down to $2.75 and overstock is only paying $2.75. Why people are paying 30 percent more than them does not make sense.

 

[Ty]

When I see someone putting money into Elio who should know his way around business deals, it does make me feel a little good.

Now, Overstock bought $2.5M in Elio stock. Elio is going to offer ElioCoin that will trade on Overstock's platform. Hmm...

It makes sense that Stu Lichter and Ken Way agreed to take stock over their loans. It was highly unlikely that Elio Motors would ever come up with the cash to pay the loans should Stu and Ken call the loans in. So, they get a possible something rather than next to nothing if they actually call the loans in. Plus, this makes Elio a little more balanced looking because there isn't a lot of debt hanging on it any more. So, win-win, right?

My next step? I'd take whatever frames and body work down to Shreveport and go into the factory and assemble the vehicle there. That way, they could have "The first Elio produced at the Shreveport Elio Plant". and headlines like "Elio production at Shreveport Plant underway" "Elio production paused at Shreveport while funds sought" or some other such thing. Maybe there'd be someone out there thinking "Hey, they are producing vehicles and have low debt. They are waiting on funding to expand production. They have 65,000 orders to fill already. I have money to invest. Shoot, let's make this happen."

 

[Samalross]

When I see someone putting money into Elio who should know his way around business deals, it does make me feel a little good.

Now, Overstock bought $2.5M in Elio stock. Elio is going to offer ElioCoin that will trade on Overstock's platform. Hmm...

It makes sense that Stu Lichter and Ken Way agreed to take stock over their loans. It was highly unlikely that Elio Motors would ever come up with the cash to pay the loans should Stu and Ken call the loans in. So, they get a possible something rather than next to nothing if they actually call the loans in. Plus, this makes Elio a little more balanced looking because there isn't a lot of debt hanging on it any more. So, win-win, right?

My next step? I'd take whatever frames and body work down to Shreveport and go into the factory and assemble the vehicle there. That way, they could have "The first Elio produced at the Shreveport Elio Plant". and headlines like "Elio production at Shreveport Plant underway" "Elio production paused at Shreveport while funds sought" or some other such thing. Maybe there'd be someone out there thinking "Hey, they are producing vehicles and have low debt. They are waiting on funding to expand production. They have 65,000 orders to fill already. I have money to invest. Shoot, let's make this happen."

As far as I read, they did not convert debt to stock. They just lowered the conversion rate down to $2.75. I believe the old conversion rate was either $6 or $9. A great deal for Lichter, bad deal for shareholders.

 

[RSchneider]

I can see where Elio can forget about the stores now. They can use Overstock for people to order the car online and then it'll show up delivered right to your door. No need for the overhead of 60 stores. Then you can use Bitcoin or Eliocoin to pay for the car and then get a deal where Eliocoin is used to charge your gas card. If you play it right, a 1/4 Eliocoin might be all you need to purchase a car and then the other 3/4 will give you free gas for life. The potential to make money at this has increased drastically. Elio just needs to finish the car and get it to market ASAFP.

 

[booboo]

BIG NEWS DAY!
Apologies to the moderators that may have to clean up aisle 1 if this was already posted.
https://www.crowdfundinsider.com/20...-share-purchase-elio-to-issue-security-token/

 

[Rob Croson]

I can see where Elio can forget about the stores now. They can use Overstock for people to order the car online and then it'll show up delivered right to your door. No need for the overhead of 60 stores.

That's pretty much what I got out of that, too.

However, Cars by Overstock does not actually stock and sell cars. They are a sort of search engine that aggregates listings from participating dealerships. They match you with cars being sold by other people, and with financing through other companies. With this model, I don't see how Cars by Overstock can sell Elios. Cars by Overstock has no real world infrastructure to stock, sell, and deliver cars. They are a virtual e-business. They could potentially leverage some of the infrastructure used for the existing overstock retail site. But that could make them a dealer, and subject to state dealership and franchising laws.

Then you can use Bitcoin or Eliocoin to pay for the car and then get a deal where Eliocoin is used to charge your gas card. If you play it right, a 1/4 Eliocoin might be all you need to purchase a car and then the other 3/4 will give you free gas for life. The potential to make money at this has increased drastically. Elio just needs to finish the car and get it to market ASAFP.

You're assuming that the ElioCoin will actually be worth something. That's a huge assumption.