What Is The Latest Start Production Date?

[Coss]

Sorry... didn't mean to dog on it so hard, nearly shut down the thread, the details are different for each of the start ups I've invested in the past and present (XTI). But the consistent thread throughout has been the consistent threat of bankruptcy and being a going concern and potentially ceasing operations...and yet here we are...Tesla survived... Elio Motors is on the cusp of something gamechanging...stay tuned...and tell everyone about ELIO... including your local politician

Ban you? No way!! We're going to make you stay and wait just like the rest of us.

 

[Francisco]

Coss: Do you mean waiting like me?

 

[Coss]

Coss: Do you mean waiting like me?

If you look at your start date here, and mine; I got here about 2+ months before you.
If it's deposit; I did mine in 2013; how about you?

 

[Rob Croson]

If his SIL is really 608, you're talking third quarter 2013, or so.

 

[Marshall]

Not at all. Most of the posting is opinion of what Elio and/or the DOE will or won't due. The ATVM does not require to be debt-free, but does require them to be financially viable without the loan. The 65K reservations are an attempt to illustrate viability, but that alone will not suffice in Elio's own words with the SEC. Between 2015 to the last nine months of 2016, Elio has lost over $34 million. The fact is that Elio themselves indicate they need to raise additional capital, and in fact immediately based on the 11-18-16 filing with the SEC.:

"Going Concern Our financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company has not generated operating revenues since inception and has never paid any dividends. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, and the ability of the Company to obtain necessary equity financing to continue. These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. 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. If we are unable to continue to obtain financing to meet our working capital requirements, we may have to curtail our business sharply or cease operations altogether. Our continuation as a going concern is dependent upon our ability to generate sufficient cash flow to meet our obligations on a timely basis to retain our current financing, to obtain additional financing, and, ultimately, to attain profitability. Should any of these events not occur, we will be adversely affected and we may have to cease operations. 6 The ongoing execution of our business plan is expected to result in operating losses over the next twelve months. Management believes it will need to raise capital through loans or stock issuances in order to have enough cash to maintain its operations for the next twelve months. There are no assurances that we will be successful in achieving our goals of obtaining cash through loans, stock issuances, or increasing revenues and reaching profitability. In view of these conditions, our ability to continue as a going concern is dependent upon our ability to meet our financing requirements, and to ultimately achieve profitable operations. Management believes that its current and future plans provide an opportunity to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classification of liabilities that may be necessary in the event we cannot continue as a going concern."

Liquidity and Capital Resources The accompanying financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. From inception, the Company has financed its business activities through customer deposits, debt issuance and contributions from stockholders. The Company expects to obtain funding through additional debt and equity placement offerings until it consistently achieves positive cash flow from operations after starting production. Management expects that cash on hand combined with anticipated funding sources will provide the Company with adequate funding through December 31, 2016. There are no assurances that the Company will be able to raise adequate funds, achieve, or sustain profitability or positive cash flows from its operations."

First, the ATVM loan does not require companies be able to do without it, it requires the loan to be ALL the government financing it needs to get to viability. That's a far cry from being profitable without the loan.

Second, If you PRESUME FAILURE (to obtain additional private financing), guess what? You're probably going to fail. But Government filings require you to state the obvious. Don't take it as a statement that they HAVE FAILED or expect to FAIL.

 

[Marshall]

Tesla isn't a good comparison. For instance, they had already built and sold a product before their IPO. They also built the Model S from scratch in 4 years. That is, they announced it in 2008, showed a prototype in 2009, and delivered their first in 2012. They had also bought the NUMMI factory where they build their vehicles. Far less of the Model S was "off-the-shelf" parts, as well.

Anyway, I realize there aren't many recent successful automotive companies to compare Elio to, but there are some very stark contrasts between Tesla and Elio.

This is not meant to be overly negative, it's just that looking to Tesla to assuage concerns about Elio's SEC filing isn't a good idea.

Comparing Lamborginis with Nissons might be fun, but I don't know why you would expect them to use the same business model. The price points are just far too different.

 

[Francisco]

Greetings all: I registered in February 2013 and received my Commitment letter dated March 17. 2013. But it took me a while to even take the first step in February. Merry Christmas to all of you.

 

[Frim]

Coss: Do you mean waiting like me?

Get out of the car so others can have a turn.

 

[Muzhik]

Coss: Do you mean waiting like me?

No but we MAY tie you to a chair and hot-glue your eyelids open.

JUST KIDDIN'!!! (... mostly ...)

Now make sure you get to bed early or Santa Elio won't stop by your house when it's time.

 

[Coss]

No but we MAY tie you to a chair and hot-glue your eyelids open.
JUST KIDDIN'!!! (... mostly ...)
Now make sure you get to bed early or Santa Elio won't stop by your house when it's time.

Oh, so you heard about last year........... (they weren't supposed to say anything, dam elves)