Good attitude! Of course you could always keep both for when you have more than 2 riding.
I don't think they're planning on a saddle option for additional passengers
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Less Than $7,600, No Sooner Than 4th Qtr 2016
- Thread starter Devilstower
- Start date
I don't think they're planning on a saddle option for additional passengers
The audited financial statement including in Elio's Reg A initial filing takes the guess work away.
It indicates massive amount of refinanced debt at high interest rates, and no cash reserves to pay for development costs.
No wonder there's no current news with regards to engine development , they are past due with IAV in the amount of $1.3 million.
How can they continue to move forward when Mr Elio does not pay his existing bills?
The Elio Vehicle is a great idea, but it's hard to be hopeful when Elio's balance sheet is so dismissal.
In my opinion, the Reg A offering is probably too little, too late.
It indicates massive amount of refinanced debt at high interest rates, and no cash reserves to pay for development costs.
No wonder there's no current news with regards to engine development , they are past due with IAV in the amount of $1.3 million.
How can they continue to move forward when Mr Elio does not pay his existing bills?
The Elio Vehicle is a great idea, but it's hard to be hopeful when Elio's balance sheet is so dismissal.
In my opinion, the Reg A offering is probably too little, too late.
have you considered in trying to participate in the "Fire Side Chat With Paul" on Sept 9th .... for more direct info take a look at this thread ... by taking your opinions directly to Paul and Ron Miller, CEO of StartEngine you might be able to get direct info that can confirm or refute your concerns ....
Ekh
Elio Addict
I liked your post because I found it thought-provoking, not because I want it to happen like that. I haven't read the SEC document closely enough to track the ownership of all the debt, so I have to take your word for it that Stu Lichter has been the sponsoring "angel" so far. I don't see what good it would do him to call the debt at this point; all it would do is bust EM and PE with a nasty stink and not get back any money.
Depends on his motivation. If it's purely the bucks, he might decide to call it and take the loss. If it's the project itself, and/or Paul, he might either say "**** it, I'll personally make sure this thing launches," forgive the debt, and underwrite some more, or he might force Paul out and try managing the show himself -- though what Paul's done that's incompetent, I don't know. Finally, Stu might play the string out til there's no wiggle room left, and THEN step in -- the angel of last resort Paul hints at from time to time.
Either way, as John Painter points out, it's better than watching any reality show on the tube.
BaldGuy
Elio Addict
I will certainly agree with this. After seeing the financial statements, it does thicken the plot some. Is these the same statements that the qualified investor had to sign a discloser disclaimer for?
One good thing, I got a feeling, I got plenty of time to get my townhouse paid for and by then hopefully the Kroger I get my gas at, will be open 24/7 so I can sneak in late at night and fill up on the wrong side of the pump.
Please understand my comments regarding the current situation at Elio Motors are my just my own personal thoughts.
But, the posting of the Reg A financials have allowed us the first true glimpse of what's actually happening behind the scenes at Elio Motors!
Big money investors like Stu Lichter expect a sizable return on their endeavors, and usually will not sit back and allow the investment to expire worthless!
Paul has the Idea, but the Reg A filling indicates Stu has the checkbook.
At the end of the day, Mr Lichter may force Paul to make large concessions to the Elio business plan to protect his huge investment!
Additionally, after reviewing the Elio Motors balance sheet, a DOE loan seems very unlikely!
But, the posting of the Reg A financials have allowed us the first true glimpse of what's actually happening behind the scenes at Elio Motors!
Big money investors like Stu Lichter expect a sizable return on their endeavors, and usually will not sit back and allow the investment to expire worthless!
Paul has the Idea, but the Reg A filling indicates Stu has the checkbook.
At the end of the day, Mr Lichter may force Paul to make large concessions to the Elio business plan to protect his huge investment!
Additionally, after reviewing the Elio Motors balance sheet, a DOE loan seems very unlikely!
There is a video of Stu Lichter speaking about providing affordable transportation to lower income people. He is not at that young-man-making-money age. He is of that older-man-benefactor age. Somewhat like Bill Gates.
BaldGuy
Elio Addict
If it was there money, then I would tend to agree. (If that was one of our financial writeups, our FICO score would be so low, we wouldn't get a loan to use a pay toilet). But its tax payers money. So never know. They give tons of money out that is tax payers money with no hope or desire to ever see it again. And lets be honest, kickbacks, IMHO, happen all the time. There is no way politicians would spend millions of there own money to get a job making 30K a year. No way.
Personally, I never been too big on government given any company money or loans. In school we learned that how Russia works and how we use capitalism instead and how much better it is. (School in the 80's).
LGilbert
Elio Aficionado
Paul stipulating $7,600 for the SEC stock application insures that his final sale price is NOT HIGHER than the filing information, otherwise, it would be considered grievously misleading by the federal regulators. Beating an estimate is fine, misleading potential investors is not. It also indicates how far Elio is from ever reaching a $6,800 retail base price goal and how foolish it was to make such a pricing statement before it was actually known how much it cost to realistically produce the Elio.
Regardless, $7,600 is still a bargain price and probably indicative that the actual delivered price will be somewhere between it and $6,800. Too little margin will doom Elio much faster than any disappointment from buyers that the projected price point wasn't attainable. Most buyers won't buy a bare-bones model anyways any more than they buy bare-bones of any manufacturer. A higher percentage of initial "all-in" buyers will buy a stick shift model, but that will change quickly as it catches on with a broader base of buyers as sticks are barely 5% of the most sporty cars (like BMWs and even the Audi R8, as the computer controlled automatic manual transmission is king). I would suspect that the average Elio hits the street at closer to $9,500 -$10K plus shipping and taxes as applicable.
Regardless, $7,600 is still a bargain price and probably indicative that the actual delivered price will be somewhere between it and $6,800. Too little margin will doom Elio much faster than any disappointment from buyers that the projected price point wasn't attainable. Most buyers won't buy a bare-bones model anyways any more than they buy bare-bones of any manufacturer. A higher percentage of initial "all-in" buyers will buy a stick shift model, but that will change quickly as it catches on with a broader base of buyers as sticks are barely 5% of the most sporty cars (like BMWs and even the Audi R8, as the computer controlled automatic manual transmission is king). I would suspect that the average Elio hits the street at closer to $9,500 -$10K plus shipping and taxes as applicable.
Adamant
Elio Addict
I just signed up. Is this were we can ask PE questions live?