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You can register using your Google, Facebook, or Twitter account, just click here.so why does Paul approach me when he has retained a wall-street firm that's supposed to be going after deep pockets??
Whatever was tried, whenever it was tried it didn't achieve it's desired outcome, if he's now reaching out to me (His letter was indeed to me). Really doesn't make any sense without getting money the only reason.
For sure I don't expect nor am I entitled to any explanation, but on the surface...........
XII:XXII (late night stuck on Law and order.)
gonna try my portobello salad with mustard dressing, let me know if I should post this recipe -LOL
Looks like they LOST money on their 'past offerings'!Filing History
- Elio Motors, Inc. has filed 3 Form Ds since 2008. Of these filings, 3 have been for unique offerings.
- Through these filings, they have raised $400,000.
- They have paid sales commissions totaling $2,400,000.
- They have used $875,000 of the proceeds to make payments to officers and directors of the company.
Sure hope they do better than their past THREE public offerings:
Sep 2011 = offered $10,000,000; got $150,000 ($9,850,000 remaining)(1.5%)
(BDO Capital Advisors, LLC shall receive for the private placement of Issuer's equity securities, a nonrefundable $75,000 retainer, a non-refundable fee of 6% on any new equity financing, and a 5-yr.)
Nov 2011 = offered $10,000,000; got $150,000 ($9,850,000 remaining)(1.5%)
Mar 2014 = offered $30,000,000; got $100,000 ($29,900,000 remaining)( 0.33%)
Mar 2015 = offered $30,000,000; got ????
($2.1 million of which is to be paid to Corporate Fuels Securities as their commission, and another $4 million to be paid to the listed EM board members. )
“On average, companies in this industry sell 59.50% of the total offering size.” The 'average' of ALL Form D filings is 67.77%. In their PAST THREE FILINGS, Elio Motors has SOLD; Sep 2011 = 1.5%, Nov 2011 = 1.5%, Mar 2014 = 0.33%, “The total amount they have raised is 39% lower than the average for a company in the Manufacturing category.”
Difficult selling 'Debt Investment' in a company that is listed as:
Revenue Range=
No Revenues
Looks like they LOST money on their 'past offerings'!
....the FIRST $6.1 million, is going to 'Corporate Fuels Securities... AND the Elio Motors board members!
Hummm, but no 'comment' on the actual CONTENT?
"people cashing out and running away"..... I never said that; those are YOUR words. I just posted what I READ.
Sure hope they do better than their past THREE public offerings:
Sep 2011 = offered $10,000,000; got $150,000 ($9,850,000 remaining)(1.5%)
(BDO Capital Advisors, LLC shall receive for the private placement of Issuer's equity securities, a nonrefundable $75,000 retainer, a non-refundable fee of 6% on any new equity financing, and a 5-yr.)
Nov 2011 = offered $10,000,000; got $150,000 ($9,850,000 remaining)(1.5%)
Mar 2014 = offered $30,000,000; got $100,000 ($29,900,000 remaining)( 0.33%)
Mar 2015 = offered $30,000,000; got ????
...
I trust that you are correct, and that would mean only someone truly in the top 1% could invest, so I guess Paul is hoping somewhere around 400 reservation holders might pony up.You can look at it many ways. I think its a put your money where your mouth is type deal. But I am sure this will give the naysayers ammunition about Elio.
by the way an accredited investor is
An individual to be considered an accredited investor, they must have a net worth of at least one million US dollars, not including the value of their primary residence or have income at least $200,000 each year for the last two years (or $300,000 together with their spouse if married) and have the expectation to make the same amount this year."[7]
The federal securities laws define the term accredited investor in Rule 501 of Regulation D and as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act as:
- a bank, insurance company, registered investment company, business development company, or small business investment company;
- an employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million;
- a charitable organization, corporation, or partnership with assets exceeding $5 million;
- a director, executive officer, or general partner of the company selling the securities;
- a business in which all the equity owners are accredited investors;
- a natural person who has individual net worth, or joint net worth with the person's spouse, that exceeds $1 million at the time of the purchase, or has assets under management of $1 million or above, excluding the value of their primary residence;[8][9]
- a natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year;[10] or
- a trust with assets in excess of $5 million, not formed to acquire the securities offered, whose purchases a sophisticated person makes."[7]