The E-series Build.

[slinches]

Anyone claiming that raising more than $12.6 million in two weeks (one of which being the Thanksgiving holiday) on a platform that has never been used before is a failure is delusional. It's a unreserved success. EM has what they need to complete the E series testing, which is what they set out to accomplish.

Think about how long it took to generate the $48 million in interest ("test the waters" started back in June). I see no reason to believe that they won't secure the full $25 million and for all we know they already have. They may have just opted to extend to $30 million to allow the folks at the LA Auto Show, who didn't have an opportunity to express interest, a chance to participate.

I suggest that we just be patient and we will be informed of the results of this funding round when PE announces it or when the sale of stock is closed. Until then, I think claiming this as a wild success may be premature. Though, based on EM stating that they met their primary goals, I don't see how it could possibly be considered a failure.

 

[slinches]

On the potential frivolous/precautionary/malicious reservations of interest, I think it would likely be worth a try next time to have a minimal fee to reserve interest. It could just be a non-refundable $5 (possibly even applicable to an eventual purchase of shares), which I think would weed out many of those that are just curious but have no real intent to invest.

 

[AriLea]

I'd like to think, as you all know, that slinches visual above is the final result. I'm not counting out pistonboys summation either until we get a final conclusion. Obviously it's somewhere between those two extremes.
Unfortunately, I suspect Elio will not announce anything until they actually get all of it, and never tell us how that rolled in the middle.

Seeing how gradual the A+ were 'expressed', the slow turtle may yet win the funding race. But don't mater much, now I want to see that E series turtle start his run.
We may even see the E series and the Funding 30m goal reached at the same time. A very slow boil at that.

Seriously though, I'm going to try and focus on XMas without watching the pot boil for once. I'm pretty confident the next few steps are in the bag.

 

[Norahsbed]

We have no idea how many people pledged under $600. I remember several on this forum alone. $250- $500 was pushing a lot of people's budgets. When you ask someone to pledge an amount they can afford and then change the minimum on them, your going to lose a lot of small investors. Wasn't this the idea in the first place? Small investors!

Then there are people such as us, we had several large expenses we had not planned on in the last 2 months. These were paid with investment money. ( I haven't had to borrow money in years and have no intention to start again.) Now with the renters leaving, our income will be cut by 25%, and we will have to spend thousands to get the place back to a rentable condition. Time to redo the budget.

I realize what our non binding commitment was and would have loved to have stuck with it but I'm not stupid and won't over extend ourselves, just to be a part of something, even though we really do believe in the company.
Unfortunately (for us and Elio) Elio Motors investment money is what was slashed in the new budget.

 

[Ian442]

We have no idea how many people pledged under $600. I remember several on this forum alone. $250- $500 was pushing a lot of people's budgets. When you ask someone to pledge an amount they can afford and then change the minimum on them, your going to lose a lot of small investors. Wasn't this the idea in the first place? Small investors!

Then there are people such as us, we had several large expenses we had not planned on in the last 2 months. These were paid with investment money. ( I haven't had to borrow money in years and have no intention to start again.) Now with the renters leaving, our income will be cut by 25%, and we will have to spend thousands to get the place back to a rentable condition. Time to redo the budget.

I realize what our non binding commitment was and would have loved to have stuck with it but I'm not stupid and won't over extend ourselves, just to be a part of something, even though we really do believe in the company.
Unfortunately (for us and Elio) Elio Motors investment money is what was slashed in the new budget.

I think you have nothing to apologize for. I hope you are able to straighten it out and get to invest in the future.

 

[karl]

I don't think of myself as a rich man. Compared to lots of the world I am. What I don't do is promise what I can't or am unwilling to do. Effin Egits!

 

[Bert]

This makes two emails I didn't get this week. Hmm..

They've got my money. Send me some emails please!!

 

[Ekh]

We have no idea how many people pledged under $600. I remember several on this forum alone. $250- $500 was pushing a lot of people's budgets. When you ask someone to pledge an amount they can afford and then change the minimum on them, your going to lose a lot of small investors. Wasn't this the idea in the first place? Small investors!

Then there are people such as us, we had several large expenses we had not planned on in the last 2 months. These were paid with investment money. ( I haven't had to borrow money in years and have no intention to start again.) Now with the renters leaving, our income will be cut by 25%, and we will have to spend thousands to get the place back to a rentable condition. Time to redo the budget.

I realize what our non binding commitment was and would have loved to have stuck with it but I'm not stupid and won't over extend ourselves, just to be a part of something, even though we really do believe in the company.
Unfortunately (for us and Elio) Elio Motors investment money is what was slashed in the new budget.

Actually we do have some idea of how many people pledged the minimum amount. If memory serves, which it may not, it was a very small percentage of the whole, on the order of 1 to 2%, at least at the halfway point when these numbers were discussed. Most of the expressions of interest were much higher: the mean by the end of the campaign. was about $4000. The little guy bids which included quite a number from our ranks here, are a barely noticeable blip on the overall 47 million.

I know that in my case, where means are tight by no means drastic, I chose to expand my level of interest from $300 to $600. That was so that I could participate. And I chose to participate not because it's a good investment, which it's not, but because I want to help this project succeed. And to the extent that we are succeeding in that the 25 E cars are being built, our contributions are in their own small way the equivalent of much larger dollars for wealthier people.

It is not surprising to me that people who are not frivolous about money and who have really tightly restricted funds and who are perhaps not Elio owners would choose not to complete the process and actually purchase stock. They don't have our level of emotional commitment. They just don't want to take that big a risk with money they can't afford to lose.

 

[Rob Croson]

This makes two emails I didn't get this week. Hmm..

They've got my money. Send me some emails please!!

I have a missed a couple recently, too. Yes, I checked the junk folder.

 

[Rob Croson]

We have no idea how many people pledged under $600. I remember several on this forum alone. $250- $500 was pushing a lot of people's budgets. When you ask someone to pledge an amount they can afford and then change the minimum on them, your going to lose a lot of small investors. Wasn't this the idea in the first place? Small investors!

That was definitely a bad move. Probably barely more than blip in the overall scheme of things, but still not good.

I realize what our non binding commitment was and would have loved to have stuck with it but I'm not stupid and won't over extend ourselves, just to be a part of something, even though we really do believe in the company.
Unfortunately (for us and Elio) Elio Motors investment money is what was slashed in the new budget.

I'm sorry you didn't get the opportunity you were hoping to get.