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Elio Aficionado
I read the following post on Yahoo Finance I thought was somewhat insightful.
First let me say that I am not an investor or spot in line holder, nor am I an investor in Overstock parent company of tZero.
I have been following this as an observer, and from the current situation of things here are some of my observations.
Elio is stating that they are still in the funding phase to get to production of their autocycle. They claim that there is a non disclosure agreement/gag order that prevents them from discussing financing and investing and that could very well be.
From appearances they seem to have five prototypes, three of which are non viable for production as they are the tube frame design they had to abandon because of production costs being more than the target price. They continue to show the two running prototypes to drum up investors and reservations. These two prototypes are now three to four years old, and from searches they only have one or two engines of their own design that no one has heard or read of the any test results other than one dyno run video. They multiple letters of intent from suppliers, but if you search the suppliers there is no mention of them working with Elio. Letters of intent are great, but there does not seem to be anything supplied from them, and the vendors are not going to produce anything on promises. (Yes, Elio has stated that they have had supplier meetings recently, but with who?)
The other thing to remember is the basic design of the vehicle is now between six and ten years old. That's close to two life cycles of most other vehicles on the road. Even the things they planned for in the two viable prototypes are now close to five years old. Meanwhile, Acrimoto and Electra Meccanica are delivering vehicles in limited numbers to customers while gathering financing and ramping up production.
On the financial side, there was the big announcement by Overstock and Elio of the $2.5 million dollar investment by Overstock, and the understanding that tZero would become the investment portal to fund Elio to production with the sale of Security Tokens by tZero once tZero had been funded for it's blockchain securities system theat still has to receive approval by the SEC (the same SEC that had to approve the initial Elio IPO, and their subsequent conversion to NASDAQ which never happened because of a lack of funding). So far from what I have read in Forbes, tZero has yet to reach their funding requirement even with letters of intent (sound familiar?) with Venture Capitalists group from Hong Kong.
Speaking of Overstock, their stock has lost almost 2/3rds of it's stock price since the first of the year. In January Overstock was at almost $90.00/share. Currently they are at ~$29.00/share, and if you read the financials, the consensus is that Patrick Byrne would sell Overstock in an attempt to fund tZero which is getting lost in the sea of blockchain/security coin/cryptro currency forest.
First let me say that I am not an investor or spot in line holder, nor am I an investor in Overstock parent company of tZero.
I have been following this as an observer, and from the current situation of things here are some of my observations.
Elio is stating that they are still in the funding phase to get to production of their autocycle. They claim that there is a non disclosure agreement/gag order that prevents them from discussing financing and investing and that could very well be.
From appearances they seem to have five prototypes, three of which are non viable for production as they are the tube frame design they had to abandon because of production costs being more than the target price. They continue to show the two running prototypes to drum up investors and reservations. These two prototypes are now three to four years old, and from searches they only have one or two engines of their own design that no one has heard or read of the any test results other than one dyno run video. They multiple letters of intent from suppliers, but if you search the suppliers there is no mention of them working with Elio. Letters of intent are great, but there does not seem to be anything supplied from them, and the vendors are not going to produce anything on promises. (Yes, Elio has stated that they have had supplier meetings recently, but with who?)
The other thing to remember is the basic design of the vehicle is now between six and ten years old. That's close to two life cycles of most other vehicles on the road. Even the things they planned for in the two viable prototypes are now close to five years old. Meanwhile, Acrimoto and Electra Meccanica are delivering vehicles in limited numbers to customers while gathering financing and ramping up production.
On the financial side, there was the big announcement by Overstock and Elio of the $2.5 million dollar investment by Overstock, and the understanding that tZero would become the investment portal to fund Elio to production with the sale of Security Tokens by tZero once tZero had been funded for it's blockchain securities system theat still has to receive approval by the SEC (the same SEC that had to approve the initial Elio IPO, and their subsequent conversion to NASDAQ which never happened because of a lack of funding). So far from what I have read in Forbes, tZero has yet to reach their funding requirement even with letters of intent (sound familiar?) with Venture Capitalists group from Hong Kong.
Speaking of Overstock, their stock has lost almost 2/3rds of it's stock price since the first of the year. In January Overstock was at almost $90.00/share. Currently they are at ~$29.00/share, and if you read the financials, the consensus is that Patrick Byrne would sell Overstock in an attempt to fund tZero which is getting lost in the sea of blockchain/security coin/cryptro currency forest.
