Startengine Funding For Elio, Is It Real?

[Phil B]

I was contacted about the Elio fund raising venture on StartEngine. I made an informal commitment to invest in the offering. I disclosed that I am an accredited investor. I received a single email confirmation from StartEngine in mid June. Since then I have only seen mention of this funding in Elio's email blasts. I honestly believe if I had commitments from hundred of investors as Elio claims they do, I would be diligently collecting the money. Since I have not been contacted again by StartEngine, it makes me wonder WHY?

 

[Johnny Acree]

Those are the rules for this program. If you are an accredited investor. you can do a 506c investment and not have to wait. I think it's "financial one" doing that program.

 

[Johnny Acree]

Those are the rules for this program. If you are an accredited investor. you can do a 506c investment and not have to wait. I think it's "financial one" doing that program.

CFS is handling the big bundles and Network 1 is handling the 506c individual investors, I would guess.

Up dated

 

[Phil B]

I have had no contact since the initial email in mid June. If this is happening to all who expressed an interest in investing, Elio will lose more than 1/2 of those who responded. There are new investment opportunities daily and many of those would not have as much risk as an investment in Elio Motors.

 

[Johnny Acree]

from start engine FAQ page
What does it mean to reserve shares?

Johanna Cronin
June 23, 2015 11:49



A reservation of shares is an expression of interest lets a company know that a person is interested in what the company is offering and encourages that company to go forward with an offering. Reservations of shares are completely non-binding and will not obligate either party in anyway. You will be notified if and when I company in which you have reserved shares has entered into the live offering phase which allows you to actually invest in the company

another FAQ said it could take 90 days till an official offer is made. So far, all you have done is said you are interested in buying stock if it is offered.

 

[Bilbo B]

Elio is extremely limited on what they can say and do until they have an SEC approved plan. As noted above, that will be at least a month or two. They haven't closed the offering yet (as of a few minutes ago the StartEngine page was still accepting reservations), so they haven't started the formal contact with the SEC yet.

 

[LillyMayPatterson #1685 & #5648]

OK, Here is my new shirt. This phase was to end YESTERDAY. 90 days to file, Gods know how long till it is approved. OH, This is madding.

 

[JEBar]

OK, Here is my new shirt. This phase was to end YESTERDAY. 90 days to file, Gods know how long till it is approved. OH, This is madding.

like the shirt .. .. as much as they need money, I suspect they will keep taking reservations for as long as possible

 

[LillyMayPatterson #1685 & #5648]

Your right, of course. I just had a troll moment, lol. Somebody explained earlier that SE is collecting a mailing list for EM. The longer the list, the more contacts to be made for soliciting the 25 million. It's a good call. BUT, doesn't this have to end before the paper work is filed with the SEC?

 

[JEBar]

Your right, of course. I just had a troll moment, lol. Somebody explained earlier that SE is collecting a mailing list for EM. The longer the list, the more contacts to be made for soliciting the 25 million. It's a good call. BUT, doesn't this have to end before the paper work is filed with the SEC?

I don't know but I'm sure Start Engine and Elio both are well aware of the rules that they have to operate under