Why No Law Suit...............

[Rickb]

Elio Project is dead. No plant, no tooling, no website, huge amount of debt and soon will be delisted. It's done. In general, would you ever trust Paul again? Maybe a few would but the rest would not. He pretty much evaporated when things were not going well. So, those die hard fans that like to see him, he obviously doesn't want to see you are anyone. Then the threw the reservation holders under the bus when he announced the Elio-E. It's was yet another hail Mary attempt to boost the stock price a bit. Not for actually making the product.

For me, his ethics are terrible. He literally owes people an apology but I doubt he will ever do that. Instead, he will sell refurbished, previously wrecked used cars in Phoenix. As we all know, used car salesmen are known to be trustworthy. Again, anyone can go there and talk to him.

elioowners keeps his name alive. I feel the same about Arcimoto as I do Elio and there are actual fuvowners and I have an Arcimoto T-shirt.

 

[Sonoran Sam]

elioowners keeps his name alive.

Personally, I come to this website/forum to obtain updates on the BEX Mongrel. I've heard there are plans to change the name of the website/forum to something more "BEX" like.

The reservations agreements were quite specific and I only put down $100 on a refundable deposit. That was all the risk I was willing accept, based on the reservation contract.

 

[RSchneider]

Personally, I come to this website/forum to obtain updates on the BEX Mongrel. I've heard there are plans to change the name of the website/forum to something more "BEX" like.

The reservations agreements were quite specific and I only put down $100 on a refundable deposit. That was all the risk I was willing accept, based on the reservation contract.

The sales pitch is what counts. Elio raised $26M in non refundable reservations. The other $2M were from refundable. You had no risk because it was refundable. Non refundable were the risk takers. Since you got your $100 back, you are fine as it was in escrow and people started getting checks back.

 

[Sonoran Sam]

You had no risk because it was refundable.

There are plenty of businesses that took deposits for various goods, the company goes bankrupt and those customers become "creditors". There are quite a few instances where they get pennies on the dollar.

I read about a famous furniture store (Ruby-Gordon) going bankrupt and customers becoming "creditors" with the bankruptcy filing.
"Ruby-Gordon’s bankruptcy filing has 43 customers listed on it, with a total of over $65,000 owed to them."
Source: Ruby Gordon

Yes, I took a very minimal risk, but it was still a risk.

 

[RSchneider]

At least you got your money back. Low risk as to others that did non refundable and even more than one of them. For a class action lawsuit, there is obviously not enough interest in it. People would have to go after the company and as we all know, it's in massive debt and pretty much has nothing. Then hope they can go after Paul. That won't work because he was smart and started a corp. Unless he did something criminal, then to find a law firm to take this on is going to be impossible. Getting blood out of a turnip just doesn't work. It's not like it's a big company that they can go after.

You'd think with the outrage, there would be at least 40K signatures by now. Yet not even close. This is why I knew he was going quietly away. People lose interest and move on.

 

[JEBar]

I've heard there are plans to change the name of the website/forum to someth
ing more "BEX" like.

stay tuned

 

[Donnyboy]

They can't even afford to pay GoDaddy the fee to keep their website active. Looks like the journey is over. It was fun though.

 

[Coss]

View attachment 26902

They can't even afford to pay GoDaddy the fee to keep their website active. Looks like the journey is over. It was fun though.

I feel like picking it up, and adding to my list of domains that were, plus you never know, if something strange happens hold it and make a few $$ on the side.
I've got 5 other domains that I'm sitting on, just waiting for the right time.

 

[Sonoran Sam]

I feel like picking it up, and adding to my list of domains that were, plus you never know, if something strange happens hold it and make a few $$ on the side.
I've got 5 other domains that I'm sitting on, just waiting for the right time.

Yes... maybe you could use the domain to direct people to Mark's BEX Mongrel, once it is in production.

 

[BaldGuy]

Wow. I wanted big news in 2024, and I got it, but not the kind I wanted. Can't believe the site is gone.

I remember back when i put down the deposit showing it to my boss who was impressed with the look and cost.

Then the flashy electric Elio update. Whoever designed that site did a great job.

Guess it really is over now. Website gone. Stock not even a half penny a share. No new news. Paul selling used cars. Sad.