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From The Sec 11/25/2016 Release...

wizard of ahs

wizard of ahs

Elio Addict
A direct quote from Elio Motors latest filing with the SEC:
"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."

Just food for thought....
 
3wheelin

3wheelin

Elio Addict
wizard of ahs said:
A direct quote from Elio Motors latest filing with the SEC:
"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."

Just food for thought....
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Thanks for this info. wizard of ahs. I'm not that all surprised of this and should all of you...after all...they have not sold a single ELIO to make any money! My 1K maybe gone but it's well worth the "anticipated excitement" and for what EM has done to change the rule of the game on 3 wheelers. Yes, EM was ambitious at the get go, offering such a low price, trying to start on big numbers production wise rather than small with hardly a working capital to stay afloat. It was easy for EM to get known companies to get on board, convincing us more of the viability of the ELIO, after all, they're not putting any kind of money until EM secures any funding. It was a "no new technology" project that got way too complicated with it's ambitious new engine. I "assume" EM knew going in that they can't have their "cake and eat it too". In keeping with the ambitious price, they have to make so many changes in materials to still make the ELIO safe, and I can only assume it's not an easy task. To come up with a quality product, it first have to have quality materials. Is using less screws. less glue or less spot welding "for example" to save money be "as safe" as with more? Why EM waited this long knowing fully well that they're operating for such a long time at a deficit is mind boggling. Will they continue with their ads and their campaign to 65K reservations? Just a food for thought like wizard says.
 
Sailor Dog

Sailor Dog

Elio Addict
ALL IS WELL...so much is happening behind the scenes. SEC filings tend to paint the dire straits picture always... that's why the herd missed the move with Tesla. The latest SEC filing sounds like all the previous ones and doesn't reflect the funding sources for slightly... insignificant...higher costs than the ATVM program. No worries!
 
Coss

Coss

Moderator
Staff member
Moderator
Ekh said:
"Substantial doubt" is not "grave risk." Again, I have been repeatedly reassured that good things are happening. Stay the course.
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Thank you EKH, hearing that from you is very reassuring.
I didn't think it was worth getting my shorts up in a bunch.
I've had too much experience in business to judge one piece of information to be the complete picture of how things actually are; especially financial statements; they can paint a picture any way the artist wants.
 
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