John Painter
Elio Addict
I do not agree. Elio Motors is developing the way it is, not the way you or I want it to. You have listed out the things which are happening and not happening, nothing more nothing less.No, they are collecting money, running a roadshow, and working on legislation. They are not moving towards production. They have been 15-18 months away from production since they started taking reservations in January 2013. Before that, they were 15-18 months from production "once funding was obtained".
The football analogy breaks down because there is no rival team.
On the other hand, Elio's score is fairly clear: $65M raised and spent.
$20M owed on equipment.
$25M potential liability for reservations.
0 pre-production prototypes. 0 fully tested engines. 0 engines that have been seen by outside observers.
Legislation - laws changed in several states.
Plant - under lease. Past due on hiring deadline. Hiring deadline extended. Equipment sale $50K sold vs $70M+ claimed value.
Private securities offerings - no evidence that any money has been raised above the filing fees.
ATVM loan - 1st step done (ie they filled out the application) Nothing since. Time frame - 1-4 years. They will lose access to the plant before a positive determine could be announced.
The score is known. It's just not being accepted. The idea was good. The window of opportunity was there. They blew it.