Elio Stock Sale A Success? Has There Been A Press Release?

[Okie51]

This piece is interesting.

https://www.pehub.com/2016/01/657621/

Were you focused on "successful campaign"?

 

[KenK]

" If this minimum offering amount has been deposited by December 31, 2015, the offering may continue until the earlier of March 31, 2016 (which date may be extended at our option) or the date when all shares have been sold.

So why no word from Elio about these milestones, or did I miss it? If the stock sale is continuing and they are taking our money, then it is obvious that they have reached the $12.6M goal. Why not acknowledge at least that in the fluffy weekly blog posts? I am also a little bummed about the open ended "date may be extended" verbiage. I'd rather have something forcing them to close it down at some point. Hopefully there is a rule somewhere that puts a cap on this option.

 

[slinches]

EM is very limited in what they can disclose while the stock sale is ongoing. And if they do extend the end date, I think it would likely require some communication with the SEC which would be public record.

 

[Chris F]

EM is very limited in what they can disclose while the stock sale is ongoing. And if they do extend the end date, I think it would likely require some communication with the SEC which would be public record.

Elio will have to amend the offering circular, but they have some time to do that. I've been checking.

 

[KenK]

Understood, just wanting the obvious things acknowledged.

Anyway, so worst case scenario, how far can Elio get on $12.6M?

And I just think it's sad that out of $41M in "expressed interest", we can't even get $25M of actual money.

 

[Rickb]

Understood, just wanting the obvious things acknowledged.

Anyway, so worst case scenario, how far can Elio get on $12.6M?

And I just think it's sad that out of $41M in "expressed interest", we can't even get $25M of actual money.

The sad part for me is no completed P5 on the test track which was and still is needed to generate venture capital investor interest. A P5 screaming around the test track may have generated more of the $41 Million in expressed interest funding as well.

At least the $12.5 Million of high risk investor funding doesn't add to EM's debt. It could actually be used to pay some of their current debt down and/or pay off the looming contract penalty.

 

[ks6c]

I took this statement in the latest blog as a hint that they would use a press conference/briefing to shout the good news, with a much larger audience than they would have with the blog:

"We’ll also talk about how the success of our current stock sale, which was made possible by the Regulation A+ ruling in the 2012 Jumpstart Our Business Startup (JOBS) Act, is what is enabling us to proceed with the E-Series."

 

[Johnny Acree]

I'm not sure, but, I think EM can say things in a press conference, that EM can't say in a blog.
Due to insider trading laws. Think "Martha Stewart".

 

[Chris F]

I'm not sure, but, I think EM can say things in a press conference, that EM can't say in a blog.
Due to insider trading laws. Think "Martha Stewart".

Once they say it in a press conference, they will have to follow-up with an amended filing.

 

[BADBOY]

Cannot believe that those who said they would buy stock but didn't are not catching flak on this MB.