The submission was dated the Tenth of May, 2016 so 15 months after that would be August 10, 2017. That is certainly in line with my expectations of production next summer. The Fleet build is an interim milestone (S1) on it's way to (V1) or general production in 15 months. I think you may have confused start of production (V1) with the (S1) interim milestone.In an SEC filing with the specific intent of notifying investors of Elio Motors' solicitation to begin trading common stock on the NYSE in an effort to attract higher daily trading volumes and public exposure, note this tidbit I read on page 18 under 'Plan of Operations'
"
We are in the process of refining our production plans with suppliers to start production in 15 months. The key milestones for the 15-month schedule are as follows (with E1, S1 and V1 referring to various vehicle prototype phases):
(reference: http://content.stockpr.com/sec/0001214659-16-012757/0001214659-16-012757.pdf)
- $16.0 million, net proceeds at the close of the Regulation A offering
- E1 Engineering drawing release
- E1 Builds begin
- E1 Testing
- S1 Production drawing release & tooling kickoff
- Order long lead equipment
- Shreveport plant integration
- Initial 10 retail locations selected
- Retail lease agreements signed
- Service partner agreements signed
- S1 Builds and production validation
- Initial 10 retail stores build out complete
- EPA/CARB certification complete
- Start of Production V1
"
Are we now forecast to see the 100 pre-production fleet vehicles in Sept/Oct 2017, with production deliveries to reservation holders beginning around Nov 2017? This would appear to be an approximate 10-month delay added to most recent public statements of pre-production fleet vehicles rolling out of Shreveport in Dec 2016.
There is also a good deal of concern over the looming forbearance and deferment options expiring on/before 8/01/16 on existing collaterized debt arrangements without any revenue streams.
Peanut gallery?