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What Is Elio Stock Trading For Today?
- Thread starter Ekh
- Start date
Watashiwah
Elio Addict
I'm not so sure this 1-U form submission satisfies the overall SEC filing requirements, plus didn't Elio Motors just withdraw Registration? Isnt it a matter of time before even OTB drops them?
Anyone know, for sure?
RSchneider
Elio Addict
The 1-U is not the filing you are looking for. It's only covering the sale of the stock to Overstock. Typically, if you do not do you SEC filing, you get dropped to Pinks. Only time will tell.
RSchneider
Elio Addict
It makes perfect sense to me. Before the stock sale to Overstock, they were not looking good. With the 2.5M, they will be able to pay two of the three sources of debt. That would be catching up on the loan payments (for the equipment) and lease payments (for the building). On;y other thing left is the fine for the jobs and Racer doesn't mind delaying that payment over and over. I would guess the filing will come out and then 2 minutes later an amended one showing the other payments up to date.
In the end, Elio looks good because of no current debt. Most likely, the accredited security token investors will not see the past but where they are today. It's a company with a car ready to go, a factory ready to go, a service center ready to go, a distribution system ready to go, an ordering system ready to go, 65K cars already pre-sold, gas prices going through the roof, main stream car companies only selling gas guzzlers and production ready to go in 18 months. With security tokens the next big thing (just like crowdfunding and Reg A+ was in their day) now this is one where Elio has to capitalize on it right now because everything could change in 6 months. With Bryne being the hero of crypto securities, that just gives Elio the star power to pull this off.
They key is timing and they need to do it now before everyone wakes up with a hangover.
They have over 100 million in debt. ESG has twenty million alone.
PLUS, nothing that's happened in the last week or two will have any effect on the 2017 report.
Elio Amazed
Elio Addict
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Just for accuracy, EM does not owe a cent for job fines to RACER. RACER has given them until a September 2019 deadline before any fines are even imposed. That may be what you meant, but your statement is worded in such a way that it could be easily misunderstood.
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RSchneider
Elio Addict
You are mistaking what the debt is. It's no different if you started a business and borrowed $10M. Even though you are making the payments, you are in debt $10M minus whatever payments you have made. As long as you make the payments (i.e. loan, payroll, lease, loan...) you look just fine. Case in point, a company I work with makes assembly equipment for the automotive industry. They borrowed $5M to double the size of their operation. Thus they are $5M in debt minus whatever payments they have made. They have the revenue to make the payments. If that revenue goes down and then they can't make the payments, then they are in trouble. From what I read, Elio needs a cash infusion to keep making those payments. From the last SEC filing, they were falling behind, but out of the goodwill of Stu, they were able to keep going.
This is where Elio can correct the situation with the amended SEC filing that can come out after the 2017 year end one. As we all know, the amended one is what matters because everything before that, it water under the bridge.
Ty
Elio Addict
I didn't see this posted here last week. But, for symmetry, I'm posting it here where the 1-U was posted.
https://ir.eliomotors.com/all-sec-filings/content/0001140361-18-019497/0001140361-18-019497.pdf
https://ir.eliomotors.com/all-sec-filings/content/0001140361-18-019497/0001140361-18-019497.pdf