The E-series Build.

[Elio Amazed]

Except that in this round of funding, they needed to reach at least $12.6 million (enough to complete the E series) to get any money at all. If that number was not reached, the share sale would be cancelled and all investments refunded. Saying they can "go ahead with" the E series in this case must* mean they hit that mark.



*Well, almost certainly. I guess PE could have found a bag with tens of millions of dollars in it along the side of the road or something.

Again, not really.
I'm basing that possible scenario (one of many) on Rob's statement (which I believe to be true) of:
"That is not correct. They have to get $12.5M from the entire offering. That $12.5M limit applies to the Reg A+ offering as a whole, and not to the private pre-sale."

 

[outsydthebox]

In conversations with folks in the biz, a typical expectation for conversions of "expressions of interest" to actual purchase is around 50%. Before the creation of the RegA+ process when only accredited investors could play, requesting a prospectus would have been considered an expression of interest, for example. So "allowing" $50mio in expressions of interest makes sense when your fund-raising target is $25mio. Conversely, when the new process only allows for a maximum solicitation of $50mio, it is prudent to say you're only looking for $25mio.

Remember that this process added another wrinkle never seen before - you HAD TO express an interest to get a place in line to purchase shares if/when they became available. Deciding later to invest would do you no good if you didn't have a place in line, and that likely created a sense of urgency that drove many placeholders, knowing that you could decide later - without penalty - to not invest. So.......likely penalty if you don't decide now, no penalty whatsoever if you hedge your bets and decide later. Simple decision.

I don't think it's reasonable at all to use the word failure to describe the results here. In fact, I think the word disappointing can only be used in the sense that "I'm disappointed that production dates have slipped" when my gut expectations from the beginning were that a project of this complexity had/has a much higher likelihood of schedules slipping than not.

This RegA+ is an entirely new process, and the industry will undoubtedly use this experience to start building new expectations. I'd be willing to bet the 50% expectation gets revised downward for the next fundraiser of similar magnitude.

Well said!
I am disappointed to....but, NOT in EM, and NOT in all of the "losers" who "didn't think thinks thru" before they pledged. The truth is (at least in my situation) I am one of those losers, too!
Over 4 hundred years ago, poet John Donne, penned the profound phrase, "No man is an island."
Almost every decision we (as individuals) make, affects others. Either to their benefit or their detriment.
I have been unable to fulfill my pledge because the people and businesses that I rely on ( for my income) have been unable to meet their goals & expectations. I do not blame any of them. Because their failures are also for the same reasons!...those whom they rely on where unable to meet their goals.
So, at this time, it is more important for me to invest in areas that "promise" (statistically) a quicker "return on investment." I am still confident that EM needs to succeed. And I am confident (and amazed) by the dogged determination and adaptability of Paul Elio and the EM team!
And for those inclined to brag about their own circumstances (I'm not pointing fingers at anyone here) , a sobering reminder for us all,come towards the end of his poem......"and therefore never send to know for whom the bell tolls; it tolls for thee."

 

[HonestTex]

According to that, they have enough to built

Just as a refresher of what the SEC DOC said, nothing more.

USE OF PROCEEDS

We estimate that, at a per share price of $12.00, the net proceeds from the sale of the 2,090,000 shares in this offering will be approximately $22,740,000, after deducting the estimated offering expenses of approximately $2,340,000. If only the minimum number of 1,050,000 shares is sold, the net proceeds will be approximately $11,350,000 after deducting estimated offering expenses of $1,250,000.

The net proceeds of this offering will be used primarily to fund the effort for the next stage of our development plan, which is to build and analyze 25 prototype test vehicles. The prototype test vehicles will be used in rigorous experiments for safety and performance, among other things. This stage is anticipated to take four to six months.

Accordingly, we expect to use the net proceeds as follows:

well it won't copy and paste but here is a link http://www.sec.gov/Archives/edgar/data/1531266/000121465915007920/partiiandiii.htm

Just reread it. At the min. amount, they have enough $ to build, engineer, test, market, and have $1M working capitol.

 

[Muzhik]

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

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

Have you checked your spam filter box lately?

 

[goofyone]

G1, Is there a way I can increase my investment? I tried using StartEngine site but it just lets me look at my current investment. I sent a message to them via chat and they responded saying someone would check it out. I hope to receive something from them after work today. I enjoy all the info you provide on this site. Thanks.

This is a very good question. It would really like to know what you hear back from StartEngine as they are the ones who would likely know the answer to this question.

 

[AriLea]

This is a very good question. It would really like to know what you hear back from StartEngine as they are the ones who would likely know the answer to this question.

The way was suppose to be from that link in the letter,

I'll post it here complete in the context...I removed the link because it was pass-coded, possibly to my account.

f you were thinking about investing before, here’s your chance to act. To take advantage of this opportunity, click here to start the investment purchase process. Sales of stock will be conducted on a first-come, first-served basis..

That link was weird looking to my eyes. But I'm sure correct for my account.

 

[Bert]

Have you checked your spam filter box lately?

Not in spam box. I've checked repeatedly. I have several hundred Elio emails, all saved in their own file.

 

[AriLea]

Not in spam box. I've checked repeatedly. I have several hundred Elio emails, all saved in their own file.

It is supposed to be open to the general public, so if you can't get into your old account, just open a new one and start fresh..Link=>.
https://www.startengine.com/login?redirect=/startup/elio-motors

 

[Bert]

It is supposed to be open to the general public, so if you can't get into your old account, just open a new one and start fresh..Link=>.
https://www.startengine.com/login?redirect=/startup/elio-motors

Oh my startengine account is fine. I am fine with the Elio site as well! I just haven't received two of the emails I've read here, that's all.
My money has been transferred and I'm awaiting confirmation of the stock. The lack of feedback, except for the email stating I "signed" the first page, is lacking.

I realize I'm just impatient, but excitement and uncertainties from the unknown are having a war inside me right now.

I also realize I'm small potatoes compared to some investors here. Not having gone through the process before, I'm left in "now what" mode. My faith the Elio will be built and sold stands firm. My internal conflict of "I want it now" and "build it right the first time" isn't helping either. LOL

I told Wifey "it looks like we're gonna be stock holders now". She blew cigarette smoke in my face and said "you maybe, but not me". Hmm. Sometimes she makes it hard to remember I'm no longer a smoker.

In any case, I look forward to the E series builds. The nuts n bolts reveals, the results of the testing. It's like a book you just can't put down!!!

 

[HonestTex]

Oh my startengine account is fine. I am fine with the Elio site as well! I just haven't received two of the emails I've read here, that's all.
My money has been transferred and I'm awaiting confirmation of the stock. The lack of feedback, except for the email stating I "signed" the first page, is lacking.

I realize I'm just impatient, but excitement and uncertainties from the unknown are having a war inside me right now.

I also realize I'm small potatoes compared to some investors here. Not having gone through the process before, I'm left in "now what" mode. My faith the Elio will be built and sold stands firm. My internal conflict of "I want it now" and "build it right the first time" isn't helping either. LOL

I told Wifey "it looks like we're gonna be stock holders now". She blew cigarette smoke in my face and said "you maybe, but not me". Hmm. Sometimes she makes it hard to remember I'm no longer a smoker.

In any case, I look forward to the E series builds. The nuts n bolts reveals, the results of the testing. It's like a book you just can't put down!!!

I'm in the same boat Bert. My account at SE says funds received, but I haven't heard anything since I did the ACH.