Something’s Gotta Give.....

[Elio Amazed]

Excellent 2nd post on an Elio Enthusiast board... (sarcasm intended)
Put batteries in a car... nothing new about that... In fact, Elon Musk built his Tesla 180+ years after the first one.

They had electric cars before 1837?
Damn Ty, you learn something every day.

 

[Sailor Dog]

However, I look at the Elio team member job titles and wonder what the 5-6 figure salaried 12 team members do all day when there is no product to sell, no real customers, no retail centers, no finalized specs, no supplies needed, no test driveable validated preproduction Elio, and no future customer experience beyond marketing Elio prototypes test sit and touch experiences over 9 years. Sometimes it takes awhile. [/QUOTE]
Think it's just Paul on the clock 24/7 right now... probably what happened with 3rd quarter filing! Probably contracted out new website.

 

[Johnny Acree]

From PBS up to 1920
Timeline: History of the Electric Car
1832-1839
Scottish inventor Robert Anderson invents the first crude electric carriage powered by non-rechargeable primary cells.

1835
American Thomas Davenport is credited with building the first practical electric vehicle -- a small locomotive.

1859
French physicist Gaston Planté invents the rechargeable lead-acid storage battery. In 1881, his countryman Camille Faure will improve the storage battery's ability to supply current and invent the basic lead-acid battery used in automobiles.

1891
William Morrison of Des Moines, Iowa builds the first successful electric automobile in the United States.

Thomas Edison and an electric car. Courtesy of the Smithsonian
1893
A handful of different makes and models of electric cars are exhibited in Chicago.

1897
The first electric taxis hit the streets of New York City early in the year. The Pope Manufacturing Company of Connecticut becomes the first large-scale American electric automobile manufacturer.

1899
Believing that electricity will run autos in the future, Thomas Alva Edison begins his mission to create a long-lasting, powerful battery for commercial automobiles. Though his research yields some improvements to the alkaline battery, he ultimately abandons his quest a decade later.

1900
The electric automobile is in its heyday. Of the 4,192 cars produced in the United States 28 percent are powered by electricity, and electric autos represent about one-third of all cars found on the roads of New York City, Boston, and Chicago.

A Ford Model T
1908
Henry Ford introduces the mass-produced and gasoline-powered Model T, which will have a profound effect on the U.S. automobile market.

1912
Charles Kettering invents the first practical electric automobile starter. Kettering's invention makes gasoline-powered autos more alluring to consumers by eliminating the unwieldy hand crank starter and ultimately helps pave the way for the electric car's demise.

1920
During the 1920s the electric car ceases to be a viable commercial product. The electric car's downfall is attributable to a number of factors, including the desire for longer distance vehicles, their lack of horsepower, and the ready availability of gasoline.

 

[Sega]

They kept pushing this ATVM loan when they could never get it. They weren't qualified for it. They kept blaming the gov't for it.

The DOE (the gov't) asked ELIO MOTORS to apply for the ATVM loan.[/QUOTE]

Whether the DOE asked them or not doesn't matter! (I still don't believe the DOE) asked them. Maybe an elected official told Paul he should try. If you don't meet the criteria, you don't meet it. SIMPLE

 

[Sailor Dog]

The DOE (the gov't) asked ELIO MOTORS to apply for the ATVM loan.

Whether the DOE asked them or not doesn't matter! (I still don't believe the DOE) asked them. Maybe an elected official told Paul he should try. If you don't meet the criteria, you don't meet it. SIMPLE[/QUOTE]
No one has discredited the story of the DOE asking them that I know of.

 

[Sega]

They have no plan right now other than to hope some magic billion comes in and gives Paul a blank check. They barely have any money in the bank. That is bad management.

That's what the NASDAQ raise & ATVM loan will do...only $376 million to get it done a bargain by ICE new start up or model standards... try that billion that was mentioned.[/QUOTE]

THEY AREN'T GETTING THE ATVM LOAN!!!! They have been waiting for years to get a loan. According to what I have read they are trying to get up to $100M on the NASDAQ....UP TO. Also, there isn't much confidence in the stock right now. I doubt they would get anywhere near that. Once they get some money (Smoke and mirrors in my opinion), then what? Sit there and say, "we need $200M more....".

 

[Sailor Dog]

The $100+M raise takes them to the cusp of production or beyond, the hard part will be over. The 65,000 plus reservations (# to increase dramatically with funding & a little marketing to support a dramatically improved website... practically seduces Sega to make a reservation) could practically carry it the rest of the way there. Suppliers would be fronting practically at that point I would think. The DOE replied to my email back in April saying Perry was looking into the ELIO situation. I posted it. Obviously case is open.

 

[Sega]

The $100+M raise takes them to the cusp of production or beyond, the hard part will be over. The 65,000 plus reservations (# to increase dramatically with funding & a little marketing to support a dramatically improved website... practically seduces Sega to make a reservation) could practically carry it the rest of the way there. Suppliers would be fronting practically at that point I would think. The DOE replied to my email back in April saying Perry was looking into the ELIO situation. I posted it. Obviously case is open.

They aren't getting $100+M. The Nasdaq is UP TO $100M. So anywhere between $1 and $100M. Based on how many times they have been off on the numbers, it'll probably be low. I still don't see it happening.

Damn right I'll be interested if it happens. I wouldn't buy new. I'd wait a few years and get one that has 30k miles for several thousand off. Those small, cheap gas savers rarely hold their value that well. No problem for Elio though. Anything under $10k is still really cheap for a car. I'm just thinking of cars like the Mitsubishi Mirage that is about half price within 3 years or so.

 

[3wheelin]

Sorry there is no bad management at EM. Elio Motors has brought together people from radically different marketing/retail sales/customer service fields and is one of the most highly successful startup vehicle marketing (based on the 4 must haves) and fundraising (over $141 Million) companies without a product to sell. Credit due for EM's Marketing successes: 65,000 reservations, REG A+ $16 Million funding round to complete the E Builds and testing ("a process that will take 4-6 months to complete"), and meeting the OTC market requirements milestones.
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However, I look at the Elio team member job titles and wonder what the 5-6 figure salaried 12 team members do all day when there is no product to sell, no real customers, no retail centers, no finalized specs, no supplies needed, no test driveable validated preproduction Elio, and no future customer experience beyond marketing Elio prototypes test sit and touch experiences over 9 years. Sometimes it takes awhile.
View attachment 22232

Aaaaah but don't forget that they meet twice a week and formulate what'll be the next blog's topic! That's important don't ya think?

 

[raptor213]

That's what the NASDAQ raise & ATVM loan will do...only $376 million to get it done a bargain by ICE new start up or model standards... try that billion that was mentioned.

THEY AREN'T GETTING THE ATVM LOAN!!!! They have been waiting for years to get a loan. According to what I have read they are trying to get up to $100M on the NASDAQ....UP TO. Also, there isn't much confidence in the stock right now. I doubt they would get anywhere near that. Once they get some money (Smoke and mirrors in my opinion), then what? Sit there and say, "we need $200M more....".[/QUOTE]

They aren't getting $100+M. The Nasdaq is UP TO $100M. So anywhere between $1 and $100M. Based on how many times they have been off on the numbers, it'll probably be low. I still don't see it happening.

Damn right I'll be interested if it happens. I wouldn't buy new. I'd wait a few years and get one that has 30k miles for several thousand off. Those small, cheap gas savers rarely hold their value that well. No problem for Elio though. Anything under $10k is still really cheap for a car. I'm just thinking of cars like the Mitsubishi Mirage that is about half price within 3 years or so.

I feel obligated to fact-check this line of dialogue before it gets too far derailed. It's not just Sega; I've observed this falsehood presented as fact before, and naive readers deserve to know what's what.

As far as initial public offerings go, there are varied approaches to getting it done. When Elio Motors listed publicly on the OTCQX under Regulation A+ a few years ago, they utilized a "best efforts" style of underwriting the IPO, which justifies why they sought $25 million but netted less than $17 million. This time around, the company has approached Drexel Hamilton to underwrite the NASDAQ IPO under a "firm commitment" basis, which ultimately transfers the risk of selling placements onto the shoulders of Drexel Hamilton and rewards Elio Motors with the net proceeds of the full $100 million less commissions/fees.

This pending NASDAQ IPO is not a sliding scale between $1.00 and $100 million; rather, it is a binary proposition of nothing or $100 million, with no intermediate option available.

If this is still unclear, there are a number of reputable search results if you Google "best efforts vs. firm commitment underwriting".