Elio Crowdfunding

[Rickb]

Oh, I totally agree (Sears has lost me as a customer because of this), but at this point, if Elio does NOTHING but give us the basic updates AND the Elio comes out mid 2016, I don't think we would care that much. Think about it, we get sh*t info from now till the vehicle comes out (on time) and now 5 - 7 years from now you are looking to replace your Elio (with 200,000 miles on it) and it was trouble free, would you still be sour or happy to buy another?..

Yes, basic factual updates and comes out in 2016 as currently stated I am indeed a HAPPY customer. I like that scenario! Jack me around with marketing fluff, no on schedule P5, E6-25 and another delay to 2017 or beyond and I'm unhappy, will be compelled to find another fun ride, and feel bad for those that are really counting on solid reliable affordable transportation to get to and from work.

With that said I'm old and will not be a repeat customer so it isn't going to matter much to EM's future success. It sounds like from reading an above interview comment that the ATVM loan approval is a primary funding source to get my one and only Elio onto the production line.

 

[LillyMayPatterson #1685 & #5648]

Well if nothing else, starting at $27,827,394 now 28mil seems plausible by tomorrow. And by the time SEC is contacted in a couple weeks, 30mil seems in scope.

Ari, Why 'in a couple of weeks'? Does Elio need to stop this 'testing the waters' before filing the paperwork? Is it possible they have already filed?

 

[AriLea]

Ari, Why 'in a couple of weeks'? Does Elio need to stop this 'testing the waters' before filing the paperwork? Is it possible they have already filed?

In the other thread on the Forbes interview, Paul had said they would submit the paperwork in a couple weeks. For how much?, I am assuming for 30mil, but it could be anything they think the SEC will approve. Then the response from the SEC would be expected back in 45-90 days. And then the offering could go out to the interested investors.

Correction: 40-60 days according to the Forbes/PE interview. Also 30mil is based on my worst case estimate.

 

[JEBar]

In the other thread on the Forbes interview, Paul had said they would submit the paperwork in a couple weeks. For how much?, I am assuming for 30mil, but it could be anything they think the SEC will approve. Then the response from the SEC would be expected back in 45-90 days. And then the offering could go out to the interested investors.

with this being one of (if not) the first under new Crowd Funding program, it will be interesting to see how smoothly the process goes

 

[Ekh]

They can ask for anything up to $50 million. In their shoes, I would ... they're not required to meet the goal, only to demonstrate that people are interested ... which is definitely beyond any kind of doubt. They also have to show audited financials proving they're not fly-by-nights, upstanding citizens, etc. Dotting the i's and even the j's, as Paul said in the Forbes interview.

The timeline from the StartEngine guy was two weeks to file, then 40-60 days to get reviewed and (probably) approved. He also said both he and Paul would be in frequent contact with the SEC during this process.

 

[Bilbo B]

The Start Engine guy also pointed out this was the first time ANYONE will have gone through the process, and while he complimented the SEC people he'd been working with for really wanting to help make this work, the potential for some SNAFU is pretty likely. 2nd application will go much better, unfortunately.

 

[bowers baldwin]

Yes, basic factual updates and comes out in 2016 as currently stated I am indeed a HAPPY customer. I like that scenario! Jack me around with marketing fluff, no on schedule P5, E6-25 and another delay to 2017 or beyond and I'm unhappy, will be compelled to find another fun ride, and feel bad for those that are really counting on solid reliable affordable transportation to get to and from work.

With that said I'm old and will not be a repeat customer so it isn't going to matter much to EM's future success. It sounds like from reading an above interview comment that the ATVM loan approval is a primary funding source to get my one and only Elio onto the production line.

Well at least it looks like there is some money coming in soon---ish, hopefully by then they will have some capital left to drag this horse to the finish line....

 

[Smitty901]

Well at least it looks like there is some money coming in soon---ish, hopefully by then they will have some capital left to drag this horse to the finish line....

This horse should not need dragging to a finish line. It should be putting people on a waiting list. The product is a good one that will fill a need. It needs to be managed better.

 

[bowers baldwin]

This horse should not need dragging to a finish line. It should be putting people on a waiting list. The product is a good one that will fill a need. It needs to be managed better.

I guess I've always expected delays, and to be honest I gave it a 40% chance of ever happening when I first put my reservation in. If starting a car company was easy, we would see a heck of a lot of name brands out there (consider Honda=Acura, Toyota=Lexus, Nissan=Infinity). This is a DAUNTING task, I guess that explains why I am not so bitter or impatient about the whole thing. At this point I am just glad the wheels haven't fallen off the project (pun) altogether. The guy started with nothing really and had to sell a pie-in-the-sky idea of a 3 wheeled car, in America! so yea, we got the song and dance of 2013/14/15/16 time lines, but for now I actually think this is a sure thing, that it will come out and be an actual 'car' company, at least for the first year or 2...

 

[Chris F]

I'm hoping/expecting that the A+ investors will get some of that information as part of the information we get prior to actually investing. It will be interesting to see how open they are with 'investors' as opposed to 'future owners'. Giving that information to 7500 people, even under a non-disclosure agreement, is going to be hard for them. You just know it's going to all get out.

The offering statement will be filed with the SEC and available on its website.