Sec Filing- Form 1-sa

[Officespaced]

http://ir.eliomotors.com/sec-filings-email/content/0001214659-17-005165/d8111731sa.htm

 

[Rob Croson]

A quick perusal doesn't show anything all that interesting. This only covers the period ending June 30, 2017. The information contained was already made available in the NASDAQ filing a couple weeks ago.

 

[4matic]

I studied the report at length last night...

Basically insolvent by all metrics...

The current SEC filing indicates they only have about 40K in liquid cash...

If you read between the lines...Stu holds all the cards...

If Elio is able to raise any more capital... a large chunk of it will end up going to Stu to repay his loans...

FYI... this report stated the financial conditions as of June 30th...so you have to assume the business metrics have continued to deteriorate...

 

[BaldGuy]

The current SEC filing indicates they only have about 40K in liquid cash...
.

According to the link, it appears more like 4,444 down from 120,206 at end of last year. Least its not 6,666.

I have as much cash as an entire corporation now, without the 83 million liabilities, so feel good about that.

 

[Donnyboy]

More from the S-1 filing: https://www.sec.gov/Archives/edgar/data/1531266/000156761917001564/s001747x1_s1.htm
Page 37:

"As described in this prospectus, we are continuing to make progress with respect to the Elio’s development, despite the lack of sufficient cash, due to (1) public support and acceptance of the Elio, as evidenced by the successful crowdfunded Regulation A offering and reservation deposits, and (2) the commitment of persons closely connected to the Company, such as Stuart Lichter. Subsequent to year-end 2016, Mr. Lichter converted over $8.5 million of loans and accrued interest into shares of Common Stock, extended the maturity dates of other loans to July 2018 and January 2019, and purchased 100,335 shares of Common Stock for $600,000. He also controls CH Capital Lending and Shreveport Business Park, which have extended and/or deferred payment terms and waived fees."

Stuart basically said you owe me $8.5 million in loans and interest but I'll trade that for shares of your common stock. And then goes and buys 100,335 shares of common stock spending $600,000 from his own piggy bank. I can't find any other way to interpret that other than to believe that Stuart thinks Elio is going to make it to production and he'll make a killing on his investment.

 

[Ty]

More from the S-1 filing: https://www.sec.gov/Archives/edgar/data/1531266/000156761917001564/s001747x1_s1.htm
Page 37:

"As described in this prospectus, we are continuing to make progress with respect to the Elio’s development, despite the lack of sufficient cash, due to (1) public support and acceptance of the Elio, as evidenced by the successful crowdfunded Regulation A offering and reservation deposits, and (2) the commitment of persons closely connected to the Company, such as Stuart Lichter. Subsequent to year-end 2016, Mr. Lichter converted over $8.5 million of loans and accrued interest into shares of Common Stock, extended the maturity dates of other loans to July 2018 and January 2019, and purchased 100,335 shares of Common Stock for $600,000. He also controls CH Capital Lending and Shreveport Business Park, which have extended and/or deferred payment terms and waived fees."

Stuart basically said you owe me $8.5 million in loans and interest but I'll trade that for shares of your common stock. And then goes and buys 100,335 shares of common stock spending $600,000 from his own piggy bank. I can't find any other way to interpret that other than to believe that Stuart thinks Elio is going to make it to production and he'll make a killing on his investment.

Hopefully, it's not a case of Stu thinking that if he doesn't rescue Elio, he'll lose all the money he has already invested. I wouldn't complain if someone came in and bought a majority share and got this train moving.

 

[Rob Croson]

As long as they deliver something substantially equivalent to what I signed on for, and for substantially the same price, I'd be OK with that.

 

[gottemfeathers]

Hopefully, it's not a case of Stu thinking that if he doesn't rescue Elio, he'll lose all the money he has already invested. I wouldn't complain if someone came in and bought a majority share and got this train moving.

I'm thinking that if Stu thought it was hopeless, he would not have invested another $600,000. Even for him, that's not chump change. He must have been presented with a convincing "way to make it work" or he is actively involved in helping to get financing. With over $9 million in stock, he has a lot of incentive to get Elio into production. Given his additional financial backing, likely he is being driven more by greed than fear.

Hopefully Paul can get his $100 million through the planned stock offering. In my opinion, that will make or break Elio.

I'm optimistic. Worst case I have a $100 t shirt/bumper sticker!

 

[Donnyboy]

My t-shirt is the $1,000 variety.

 

[Johnny Acree]

I have two $1000.tee shirts, and I had the tour team sign my first shirt at the Perry show! I had a red sharpie. I called it a p5 pen.