I hate to be negative, but I'm disappointed as well. I can't believe that there was so much "expressed interest" and so little actual cash. I wonder how many people were priced-out of the deal and how much was false. I know the jump from $250 to $600 probably hit a lot of people. The deadline will probably scare up more cash. In securities offerings, everybody want to be the last $ in.
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slinches
Elio Addict
I would have been disappointed had they not met the $12.6 million threshold by the end of the year. I never put much stock (so to speak) in the expressed interest. There were probably many who decided against investing when they saw the size of the stake and essentially full instant dilution of the value. There were probably others who were only curious about the process and never really intended to invest and still others who considered investing and expressed the maximum dollar value they could just in case that was used as a limit when the stock sale went live.
Ultimately, the success or failure is whether it serves the purpose of funding the E-series builds and testing necessary to get to production. And EM's statements on that front are all positive. Remember, this was the first attempt at this sort of funding on this scale. There were no benchmarks to use to gauge progress along the way, so simply achieving the desired outcome is a huge success.
Ultimately, the success or failure is whether it serves the purpose of funding the E-series builds and testing necessary to get to production. And EM's statements on that front are all positive. Remember, this was the first attempt at this sort of funding on this scale. There were no benchmarks to use to gauge progress along the way, so simply achieving the desired outcome is a huge success.
Buckeyejake
Elio Addict
If you have been involved in any fundraising event it is a well known fact not to expect to receive over half the money promised. It's easy to express interest. It's another thing to part with the money. Once EM showed they had over 100% more interest than they needed I thought they had a chance.
I wasn't surprised with how this program turnout.
BlioKart
Elio Addict
Its a little less than i expected i was thinking 20 mill
Jambe
Elio Addict
Whenever you deal with financial advisors and brokers here is some advice:
Always ask what the fees are for handling the account. The fees some charge can wipe out any earnings you might make. Many won't tell you about the "hidden" fees that will be charged. Fees for setting up the account, monthly or quarterly maintenance and management fees, and fees for closing the account.
Let me emphasize that.
Always know for sure what all the fees will be for handling the account.
LillyMayPatterson #1685 & #5648
Elio Addict
Disappointed, yeah, but I am also proud. We, the elio enthusiasts pulled this off. OMGS 16 MILLION DOLLARS !!! Who would have thought !!! I am disappointed in the obvious fraud. Yes, some backed out for understandable reasons but this large of disappointment was blatant fraud. The few people who are so hell bent in hurting this project did not win. Elio WON, The Enthusiasts WON !!! GO ELIO !!!
AriLea
Elio Addict
16mil. from 44mil, that was 36%. hmm . But after some point in time, like at $25m 100%, it seems to have become 'just-in-case' positioning by many people.
Like every one else I'd like to have seen more. And it doesn't have to be done either, as Elio completes more objectives, they can continue to acquire investment up to the 30m.
But the funds for these next objectives are on tap, and that IS a big deal. I really can't gripe at all about this, but neither can I claim total victory over other view points. Elio Motors is still in the ring and still making the good fight. We can claim that at 100%.
Like every one else I'd like to have seen more. And it doesn't have to be done either, as Elio completes more objectives, they can continue to acquire investment up to the 30m.
But the funds for these next objectives are on tap, and that IS a big deal. I really can't gripe at all about this, but neither can I claim total victory over other view points. Elio Motors is still in the ring and still making the good fight. We can claim that at 100%.
Bert
Elio Addict
It might be the time of Year. It might be, as has been stated often, the minimum was raised beyond individual ability, or willingness to risk hard earned money. It might be the warning given quite clearly has something to do with it.
My minimum purchase isn't much, but multiplied by thousands, it will help "us" over the next hump.
GO ELIO!!!!!!
My minimum purchase isn't much, but multiplied by thousands, it will help "us" over the next hump.
GO ELIO!!!!!!
Rob Croson
Elio Addict
Given the $48M in expressed interest, and the eventual take of only $16M, a mere 33% of the total even after the long public availability period, it is a bit disappointing. I'm glad they got what they really needed, which was the $12.5M to fund the E series.
What this also shows is that nearly all the sales went to those that bought during the pre-sale. They hit $12.5M before the public sale. That means they got, at most, and additional $3.5M from the public sale. So a minimum of 78% of the money raised was taken in the initial pre-sale. It is most likely that the number was significantly higher. 85% in the pre-sale would not surprise me. Pretty much everyone that wanted in, got theirs before the public opening. I doubt that even if they keep sales open, there will be much, if any, additional interest before the E series builds start showing up with some test results. Or perhaps the P5 starts being available for test drives and reviews. Maybe once those hit, they can do a second offering, if needed?
TMOSteel
Elio Addict
Here is hoping one of us wins Powerball as was mentioned in another thread, and decides to fund the rest of project. Feb 1st is the deadline but as it stands right now I purchased what I could and it doesn't look like I'll have any more cash to spare for some more shares before that date.
Unless of course the planets align just right tomorrow night...
Unless of course the planets align just right tomorrow night...