Borrow $240 Mil, Or Borrow Alot Less And Start Out Slow?

[eddie66]

Elio did recently file an ammened SEC filing. Doesn't look like the excess equipment sales are going well.

http://www.sec.gov/Archives/edgar/data/1531266/000094935315000064/xslFormDX01/primary_doc.xml

 

[WilliamH]

Personally, there's a lot on here that are too naïve to really think that

I agree. This talk the talk is not doing anything to calm my nerves! Walk the walk will happen ONLY with the approved funding whenever that might be! IAV and the rest of the suppliers says "SHOW ME THE MONEY OR STOP WASTING OUR TIME"!

Sat in on what??? Do I need to spell it out for you that these companies does not work for free??? Funding is everything!!!! That's the key to keep this project alive is what I'm saying! As much as everybody wants PE to succeed with his dream, it'll remain as is, a dream unless this infusion of cash comes in and soon! Now if you can't understand that, then you need to go back to your doctor and have him increase your meds! ( as you eloquently put it).

You quoted a line (and yelled it) that you attributed to IAV and the rest of the suppliers.
I quote you ............"SHOW ME THE MONEY OR STOP WASTING OUR TIME"!"..............
That is what I responded to by saying ............."And you personally sat in on what meeting where you heard that?".................
You can't quote something that you didn't personally hear or read.
I'm asking you for the source of your quote.

Incidentally, my meds are fine and they tell me that my pacemakers battery should be good for at least 5 more years.
Thank you for your concern.

 

[WilliamH]

Has Paul Elio ever given a breakdown (itemization) of what exactly the $240 million is to be used for? Big investors will want this information. Small investors (who are less financially savvy like the crowd funding investors) may be less incline to demand this. (I assume this has nothing to do with his preference for crowd funding.)

Is this $240 million strictly for "production" as he says or is it for "production" and "distribution" (stores and marshaling centers).

The governmental ATVM would be for production but the government is not going to pay for distribution which in this industry is traditionally done by dealerships at their own expense. Is this why the ATVM loan is for $185 million and not $240 million? Is $185 Million the cost of going into production which the government would cover and the difference ($55 million) is the cost of stores and marshaling centers which the ATVM would not cover?

If Elio Motors was a publicly traded company and it wanted to obtain $240 million from outside sources, would it be required to provide a detailed breakdown of what that money is to cover?

ATVM Eligibility
ATVM loans may be made to applicants who are technically and financially eligible in order to finance the cost of:

1. reequipping, expanding or establishing manufacturing facilities in the United States to produce ATVs or qualifying components or
2. engineering integration performed in the United States of ATVs or qualifying components.

( http://energy.gov/lpo/services/atvm-loan-program)
Incidentally, adding your leather seat is part of the manufacturing process as are any number of other things done at the marshaling centers.
Are the job at the "marshaling centers" real full time jobs? Will they take someone off of the welfare rolls?
Sound like real jobs to me.
Whether they are a part of the 1500 jobs in the startup? I don't know, but probably in Shreveport anyway.

 

[goofyone]

Elio did recently file an ammened SEC filing. Doesn't look like the excess equipment sales are going well.

http://www.sec.gov/Archives/edgar/data/1531266/000094935315000064/xslFormDX01/primary_doc.xml

Just to clarify some things and try to keep people from reading too much into these Form D filings. The Form D tells us absolutely nothing about the excess equipment sales or for that matter anything EM is doing outside this offering of equity and debt. The title of the form tells us exactly what this form is for, "Notice of Exempt Offering of Securities".

EM does not even have to file any additional forms revealing how much they have raised as this is a private company and the results of the offering are private as well. As a result there has been plenty of speculation however we have no idea how successful, or not, any of the previous offerings where either as EM does not have to disclose this information publicly.

Private placements are also very flexible so it is not unusual for there to be requirements and milestones to be included in the agreement between issuer and purchaser. It is not unusual for money to be placed in escrow until certain requirements are met, such as acquiring a minimal amount of funding from the offering or possibly even details such as securing control of a facility within a designated time period. Even if the money is promised these deals can, and frequently do, collapse, in part or completely, due to failure to meet the obligations as set forth in the placement agreement.

 

[jetpack54]

You quoted a line (and yelled it) that you attributed to IAV and the rest of the suppliers.
I quote you ............"SHOW ME THE MONEY OR STOP WASTING OUR TIME"!"..............
That is what I responded to by saying ............."And you personally sat in on what meeting where you heard that?".................
You can't quote something that you didn't personally hear or read.
I'm asking you for the source of your quote.

Incidentally, my meds are fine and they tell me that my pacemakers battery should be good for at least 5 more years.
Thank you for your concern.

Not to worry, I'm just messing w/ you...or your meds! Going back to our regular programming, you don't need a quote for that because common sense dictate that these companies needs to get paid to pay their employees who then do the work that create the engines and parts that then creates our ELIO! The comment I made "show me the money or stop wasting my time" maybe a little "in your face" but you're old enough to read between the lines! It's like being in a 2 way stop, once you turn your signal left or right, you made it clear to the other drivers your intention without rolling your windows down and shouting "I'm turning left, or right", get it?

 

[eddie66]

Just to clarify some things and try to keep people from reading too much into these Form D filings. The Form D tells us absolutely nothing about the excess equipment sales or for that matter anything EM is doing outside this offering of equity and debt. The title of the form tells us exactly what this form is for, "Notice of Exempt Offering of Securities".

EM does not even have to file any additional forms revealing how much they have raised as this is a private company and the results of the offering are private as well. As a result there has been plenty of speculation however we have no idea how successful, or not, any of the previous offerings where either as EM does not have to disclose this information publicly.

Private placements are also very flexible so it is not unusual for there to be requirements and milestones to be included in the agreement between issuer and purchaser. It is not unusual for money to be placed in escrow until certain requirements are met, such as acquiring a minimal amount of funding from the offering or possibly even details such as securing control of a facility within a designated time period. Even if the money is promised these deals can, and frequently do, collapse, in part or completely, due to failure to meet the obligations as set forth in the placement agreement.

OK, in an attempt to keep things on a positive note here, we'll go with that theory.

 

[jetpack54]

Anyhow, we can argue all we want but the facts remains, no funding no ELIO!

 

[eddie66]

Anyhow, we can argue all we want but the facts remains, no funding no ELIO!

We don't have to argue at all if you attack the content of the post, and not the person who posted it. It would be no fun at all if we all had the same opinion.

 

[archer5013]

Elio did recently file an ammened SEC filing. Doesn't look like the excess equipment sales are going well.

http://www.sec.gov/Archives/edgar/data/1531266/000094935315000064/xslFormDX01/primary_doc.xml

Thank you for this. Is there access to the first filing (pre amendment - to compare what's been amended)?

Since the total offering is $30 million, (unless it's just a coincidence) it seems this must be for the Evaluation prototypes, the next major stage of development.

 

[eddie66]

Thank you for this. Is there access to the first filing (pre amendment - to compare what's been amended)?

Since the total offering is $30 million, (unless it's just a coincidence) it seems this must be for the Evaluation prototypes, the next major stage of development.

Or is it the price Elio paid for the surplus equipment? G1 probably will follow up.