The E-series Build.

[Okie51]

But, first, we wanted to share more good news. We are pleased to announce that as of Thursday, December 3, 2015 at 9 a.m. EST, Elio Motors will be actively accepting investments into its limited stock offering from the general public.
​

How do they spin this as good news? This means out of 48 million in expressed interest, they didn't manage to sell 25 million worth of stock. Sounds like fail to me.

Or am I reading that wrong?

Yea!!! Gives me a chance to buy a little more to get to an even 100 shares.

 

[Jeff Porter]

But, first, we wanted to share more good news. We are pleased to announce that as of Thursday, December 3, 2015 at 9 a.m. EST, Elio Motors will be actively accepting investments into its limited stock offering from the general public.
​

How do they spin this as good news? This means out of 48 million in expressed interest, they didn't manage to sell 25 million worth of stock. Sounds like fail to me.

Or am I reading that wrong?

Not to pile on you Rob, but this is definitely a win. This long trek that Elio Motors is on is completed by one step at a time. One step in the middle of the journey was to team with StartEngine.com to see if there was interest in buying stock in Elio should they choose to sell some. Step completed, there was as you say lots of interest, more than they can sell.

Next step: open a 7-work-day window to those that expressed interest, to actually sell the shares of stock to get money to build the E-series 25 vehicles. If enough shares are sold ($12.5 million), then the sale is official. By the email sent out by Paul saying the above, it appears to us that they have sold at least $12.5 million. Step completed.

Next step: continue to sell shares of stock to anyone and everyone, trying to reach the total of $25 million. End of the world if they only sell say a total of $20 million? Not at all. There is a budget in the SEC paperwork about money allotments should the amount be $12.5 mill or $25 mill. Can they sell more than $25 mill? Yep, I believe they can sell $30 mill. Can they sell more than that? Nope.

Yep, it's good news.

 

[BADBOY]

I know I am wrong for this but I was hoping the $25 m would be provided by those saying they would purchase stock.

 

[NSTG8R]

I know I am wrong for this but I was hoping the $25 m would be provided by those saying they would purchase stock.

I'm with you. Happy Paul got enough to move forward [very happy actually!], but pretty disappointed knowing that 3/4 of the people that pledged in the "Test The Waters" phase are full of cr*p. Can't understand that mindset.

 

[Elio Amazed]

I felt that my own expression of interest in the 'Test The Waters' phase was an act that affected others in real time in a real world.
Therefore, I felt that it was a voluntary commitment that I did not take lightly before, or after, doing.
I made sure that, barring personal catastrophe, I would be able to, and would, follow through on that commitment.

It's something not unlike that which the greatest generation would have done.
We seem to have lost that somewhere down the years.

Sometimes It makes me wonder if we, as this "modern society", actually deserve the Elio.

 

[Kuda]

I felt that my own expression of interest in the 'Test The Waters' phase was an act that affected others in real time in a real world.
Therefore, I felt that it was a voluntary commitment that I did not take lightly before, or after, doing it.
I made sure that, barring personal catastrophe, I would be able to, and would, follow through on that commitment.

It's something not unlike the greatest generation would do.
Yes, we seem to have lost that somewhere down the years.

Sometimes It makes me wonder if we, as this "modern society", actually deserve the Elio.

I'm sure Paul has asked himself that question from time to time over the
years. Sure glad he has persevered!

 

[W. WIllie]

When is it going to be listed on the "Stock Exchange"?

Willie

Maybe this is the answer. "No Ticker', funded by individuals".

 

[Johnny Acree]

I don't think ELIO will be "listed" any time soon. As of now the only place to buy Elio stock is Start Engine.

 

[Ekh]

On the face of it, EM didn't raise $25 million in the first week. The first week was reserved for those who had expressed interest via SE, and we have no idea how far short of goal they came. And it may be the case that they are going for the additional $5 to make it $30 million, and as of now, investment is open to any who want to (providing they're within the SEC guidelines for non-accredited invesotrs). Paul says they do have the bucks to build the E-series,so they must have raised most of it.

I think giving people one week to climb on board is asking a lot -- particularly with a holiday week involved. So ruling the SE campaign a failure seems plain wrong to me -- it has done what it was supposed to, get the E-cars built and tested. How much more they need, we don't know. Qualified success, maybe -- but definitely not a failure.

For once I wish gas prices had spiked to $4 just before thanksgiving ...

 

[Ekh]

The crowd funding phase, is essentially done, according to the letter/email out this morning, 7am Arizona time. (HQ is in AZ right? yea-yea, I'm being 'pithy', lol)

We may as well move on to collecting anything about the E-Series activity. Yes, I'd just watch for it myself, but our membership seems to ferret out all the tiny evidence there is immediately. So I want a thread open to view it.

So that you don't have to look it up, this is the note below
Hello Arak,

For some reason I did not receive this email, either on my desktop or at the server. Thank you for posting it. I DID get one from SE yesterday advising that my transaction has posted properly to the escrow account and would move on to EM's coffers forthwith.