What Is The Latest Start Production Date?

[Doug McDow]

Waiting 9 yrs. for something to be a reality is tough. I have only waited a short time, but I am very anxious to see the Elio on the road, as all of you are. It sure would be nice to get a firm date on production to start. I wrote an email asking, but never got a reply. Maybe soon.

 

[3wheelin]

View attachment 11989 Waiting 9 yrs. for something to be a reality is tough. I have only waited a short time, but I am very anxious to see the Elio on the road, as all of you are. It sure would be nice to get a firm date on production to start. I wrote an email asking, but never got a reply. Maybe soon.

Then you timed it just right as EM is at a point where they could either make it...or not! Regardless, you don't have to wait as long as we did. You just have to wait your turn after "us early adopter/reservation holders" get's our ELIO first! Funding can come from any source at this point. ATVM approval will further solidified it's place in car manufacturing because the government is on EM's side. It's just my opinion and not to be taken TOO seriously!

 

[grampi]

There is a requirement for ICE vehicles to achieve 75 MPG to qualify for the program, so that would be a hold up if it doesn't achieve that mark.

So why not then forego the gov loan and go with private investors? I don't know of anyone who wouldn't still want one if it only gets 74, or even 60 MPG....that's still better than anything else on the road that is powered by an ICE...

 

[Sailor Dog]

Or most non-ICE...

 

[Muzhik]

So why not then forego the gov loan and go with private investors?

In a word, strings. Currently, the Elio is Paul's baby and his vision. As soon as private investors get involved, though, they have a right (it IS their money, after all) to start meddling in the design or timetable or any number of management decisions. You run the risk of "design by committee". I think he'd like to aoid that as long as possible; definitely after the Elio is launched. Not to mention the possibility of there being some sort of coup that results in Paul being kicked out of managing his own company.

 

[Marshall]

So why not then forego the gov loan and go with private investors? I don't know of anyone who wouldn't still want one if it only gets 74, or even 60 MPG....that's still better than anything else on the road that is powered by an ICE...

I suspect it won't be a hold-up in the end, but they have to determine what the vehicle will get after they get one close enough to use to determine the final number. I heard somewhere that virtual test indicate it may go significantly over. But the real world doesn't play by the same rules and there are many different ways of calculating a mileage and they have to use the proper one. City/Highway or some combination of both AND with or without the Automatic.

 

[grampi]

In a word, strings. Currently, the Elio is Paul's baby and his vision. As soon as private investors get involved, though, they have a right (it IS their money, after all) to start meddling in the design or timetable or any number of management decisions. You run the risk of "design by committee". I think he'd like to aoid that as long as possible; definitely after the Elio is launched. Not to mention the possibility of there being some sort of coup that results in Paul being kicked out of managing his own company.

It may come down to an issue of giving up some control vs it never going into production. The AVTM loan could sit in limbo indefinitely, and the more the start production date keeps getting pushed back, the more of a black eye EM takes. Paul could test the waters of investors with the notion that he still has final say, besides, it is his design and who knows better?

 

[Grumpy Cat]

It may come down to an issue of giving up some control vs it never going into production. The AVTM loan could sit in limbo indefinitely, and the more the start production date keeps getting pushed back, the more of a black eye EM takes. Paul could test the waters of investors with the notion that he still has final say, besides, it is his design and who knows better?

Paul has already said he's looking for private funds and not counting on the AVTM loan, but that the AVTM loan would get things going much more quickly.

 

[Officespaced]

I think this may help some of the doubter here change their minds

EKH posted it 12-2-16
http://www.elioowners.com/posts/171641/

Not at all. Most of the posting is opinion of what Elio and/or the DOE will or won't due. The ATVM does not require to be debt-free, but does require them to be financially viable without the loan. The 65K reservations are an attempt to illustrate viability, but that alone will not suffice in Elio's own words with the SEC. Between 2015 to the last nine months of 2016, Elio has lost over $34 million. The fact is that Elio themselves indicate they need to raise additional capital, and in fact immediately based on the 11-18-16 filing with the SEC.:

"Going Concern Our financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has not generated operating revenues since inception and has never paid any dividends. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, and the ability of the Company to obtain necessary equity financing to continue. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. We have experienced recurring net losses from operations, which losses have caused an accumulated deficit of $123,212,432 as of September 30, 2016. In addition, we have a working capital deficit of $25,769,911 as of September 30, 2016. We had a net loss of $34,787,800 and $13,873,656 for the nine months ended September 30, 2016 and 2015, respectively. These factors, among others, raise substantial doubt about our ability to continue as a going concern. If we are unable to continue to obtain financing to meet our working capital requirements, we may have to curtail our business sharply or cease operations altogether. Our continuation as a going concern is dependent upon our ability to generate sufficient cash flow to meet our obligations on a timely basis to retain our current financing, to obtain additional financing, and, ultimately, to attain profitability. Should any of these events not occur, we will be adversely affected and we may have to cease operations. 6 The ongoing execution of our business plan is expected to result in operating losses over the next twelve months. Management believes it will need to raise capital through loans or stock issuances in order to have enough cash to maintain its operations for the next twelve months. There are no assurances that we will be successful in achieving our goals of obtaining cash through loans, stock issuances, or increasing revenues and reaching profitability. In view of these conditions, our ability to continue as a going concern is dependent upon our ability to meet our financing requirements, and to ultimately achieve profitable operations. Management believes that its current and future plans provide an opportunity to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that may be necessary in the event we cannot continue as a going concern."

Liquidity and Capital Resources The accompanying financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. From inception, the Company has financed its business activities through customer deposits, debt issuance and contributions from stockholders. The Company expects to obtain funding through additional debt and equity placement offerings until it consistently achieves positive cash flow from operations after starting production. Management expects that cash on hand combined with anticipated funding sources will provide the Company with adequate funding through December 31, 2016. There are no assurances that the Company will be able to raise adequate funds, achieve, or sustain profitability or positive cash flows from its operations."

 

[Sailor Dog]

Not at all. Most of the posting is opinion of what Elio and/or the DOE will or won't due. The ATVM does not require to be debt-free, but does require them to be financially viable without the loan. The 65K reservations are an attempt to illustrate viability, but that alone will not suffice in Elio's own words with the SEC. Between 2015 to the last nine months of 2016, Elio has lost over $34 million. The fact is that Elio themselves indicate they need to raise additional capital, and in fact immediately based on the 11-18-16 filing with the SEC.:

"Going Concern Our financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has not generated operating revenues since inception and has never paid any dividends. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, and the ability of the Company to obtain necessary equity financing to continue. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. We have experienced recurring net losses from operations, which losses have caused an accumulated deficit of $123,212,432 as of September 30, 2016. In addition, we have a working capital deficit of $25,769,911 as of September 30, 2016. We had a net loss of $34,787,800 and $13,873,656 for the nine months ended September 30, 2016 and 2015, respectively. These factors, among others, raise substantial doubt about our ability to continue as a going concern. If we are unable to continue to obtain financing to meet our working capital requirements, we may have to curtail our business sharply or cease operations altogether. Our continuation as a going concern is dependent upon our ability to generate sufficient cash flow to meet our obligations on a timely basis to retain our current financing, to obtain additional financing, and, ultimately, to attain profitability. Should any of these events not occur, we will be adversely affected and we may have to cease operations. 6 The ongoing execution of our business plan is expected to result in operating losses over the next twelve months. Management believes it will need to raise capital through loans or stock issuances in order to have enough cash to maintain its operations for the next twelve months. There are no assurances that we will be successful in achieving our goals of obtaining cash through loans, stock issuances, or increasing revenues and reaching profitability. In view of these conditions, our ability to continue as a going concern is dependent upon our ability to meet our financing requirements, and to ultimately achieve profitable operations. Management believes that its current and future plans provide an opportunity to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that may be necessary in the event we cannot continue as a going concern."

Liquidity and Capital Resources The accompanying financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. From inception, the Company has financed its business activities through customer deposits, debt issuance and contributions from stockholders. The Company expects to obtain funding through additional debt and equity placement offerings until it consistently achieves positive cash flow from operations after starting production. Management expects that cash on hand combined with anticipated funding sources will provide the Company with adequate funding through December 31, 2016. There are no assurances that the Company will be able to raise adequate funds, achieve, or sustain profitability or positive cash flows from its operations."

Typical SEC Filing for a start-up...see Tesla... Go Elio Motors!!!