Elio Tells Sec It Has Lost $53m So Far

[outsydthebox]

Considering EM has been up and running since 2008 and have accomplished all they have since then it should be no surprise they're heavily in debt. It's a classic "catch 22". You need money to get started, you need to get started to get the money. This isn't the SECs first rodeo so I'm reasonably certain they've seen better finances but I'm also certain they've seen much worse. An 8 year old company with virtually no income other than early adopter deposits I'm surprised their finances aren't worse than they are.

Thank You! And, well said!
Yes, this is an 8 year old company with over $50 million in debt, but, it IS holding hundreds of millions in assets. The contents of the factory in Shreveport are assets.

 

[pistonboy]

Come on guys (and gals)...let be truthful here...

Elio's balance sheet is a disaster...

Elio is up to it's eyeballs in debt...they've been spending money like "drunken sailors"...

Companies that go bankrupt run out of cash...and have no way to rise further capitol...

Let's get real...without a huge infusion of capitol...Elio will more than likely run out of cash...

I'm sure the $17 million raised by the Reg A+ offering has already been allocated...and I'm hoping it's enough money to build & test a fleet of spec ready prototypes...

I assume the Elio Team is working 24/7...time is of the essence!

As I've said before...Elio has become a coin flip...but I'm still hopefully...

"huge infusion of capitol"

Isn't that what the ATVM loan is?

 

[RUCRAYZE]

III-V-MMXVI
XI:III, night all

 

[Aprilia]

Thank You! And, well said!
Yes, this is an 8 year old company with over $50 million in debt, but, it IS holding hundreds of millions in assets. The contents of the factory in Shreveport are assets.

Here's the link to their current SEC filed balance sheet... http://pdf.secdatabase.com/41/0001214659-16-009658.pdf

Would you be be kind enough to explain & document the "hundreds of millions" of assets as stated in your comment...

If they're holding "hundred of millions" in assets...why would the balance sheet they filed with the SEC not indicate this...their SEC filing indicates they have virtually no assets...and more than $50 million in unpaid debt...

 

[Aprilia]

All we are familiar with is personal finance. Business finance is probably very different. I doubt if any of us are qualified to accurately evaluate Elio Motor's financial situation.

Elio's current balance sheet as filed with the SEC is extremely easy to read & understand...

I'm sure there's plenty of forum member's that have enough ongoing business experience to properly evaluate Elio's financial situation...

 

[Aprilia]

You see, these are the type of comments that result in loss of credibility.
Can you please post the links to those "facts?"

Here's the link... http://pdf.secdatabase.com/41/0001214659-16-009658.pdf

All the financial data is clearly listed in Elio's latest SEC filing...

Elio's current balance sheet is self explanatory & very transparent...

Please read & review Elio's balance sheet...

 

[Aprilia]

"huge infusion of capitol"

Isn't that what the ATVM loan is?

Yes...the ATVM might be a possible source of funding...

But IMO... it's very unlikely the Fed's will ever approve Elio's funding request...

It appears that Elio Motors has bean working to obtain government funding for the last 7 years...

Please refer to the date posted on the original Blackswan LLC registration & filing report...it's dated March 31,2009

Here's the link... http://lobbyist395.rssing.com/browser.php?indx=36992234&item=1

 

[NSTG8R]

Yes...the ATVM might be a possible source of funding...

But IMO... it's very unlikely the Fed's will ever approve Elio's funding request...

It appears that Elio Motors has bean working to obtain government funding for the last 7 years...

Please refer to the date posted on the original Blackswan LLC registration & filing report...it's dated March 31,2009

Here's the link... http://lobbyist395.rssing.com/browser.php?indx=36992234&item=1

Not sure what your link proves other than Elio Motors got serious about becoming a legitimate company back in 2009. Blackswan LLC is just a consulting firm that helps start-ups navigate the seemingly endless Gov't "red tape". Other than possibly making sure all the "T's" are crossed and "I's" are dotted in the ATVM loan application, which apparently EM passed muster on according to a quick Google search (personally, all the ATVM info bores the cr*p out of me...can't even pretend to be interested), your statement about the likelihood of the Feds approving EM's ATVM loan being "very unlikely" is baseless...IMO.

 

[floydv]

Yes...the ATVM might be a possible source of funding...

But IMO... it's very unlikely the Fed's will ever approve Elio's funding request...

It appears that Elio Motors has bean working to obtain government funding for the last 7 years...

Please refer to the date posted on the original Blackswan LLC registration & filing report...it's dated March 31,2009

Here's the link... http://lobbyist395.rssing.com/browser.php?indx=36992234&item=1

Aprilia,

It really isn't clear to me what you're implying. On its face, your post seems to imply that Elio has been seeking an ATVM loan since 2009, and seven years later in 2016 there's still no word of fed action on the application, therefore it's unlikely the Feds will ever approve it.

This is, to put it bluntly, patently misleading. Blackswan was retained in 2009 by Elio to help secure funding. But as you know,the ATVM program only applied to four wheeled cars back then, so the lobbying services first had to secure statutory changes to enable the ATVM program to apply to three wheeled vehicles. This was done via amendments by Rep. Bilbray and others, but their focus at that time was to get funding for Aptera, not Elio, since Elio was barely a mere twinkle in Paul's eyes at the time.

You also know, or should know, that even though the ATVM amendments were passed in 2009, DOE didn't actually amend their program to include three wheeled vehicles until 2011. And then it took them until April 2014 to actually restart their revamped loan program. Elio submitted their application soon after and EM announced their application had passed the Phase 1 (completeness) review and went to Phase 2 (due diligence) in October 2014. You know this as well.

So your implication that EM likely won't get a loan because it's been seeking one for a long time seems disingenuous to me. Their application has been with DOE for less than two years, which doesn't seem overly long for the Feds under current circumstances.

 

[NSTG8R]

Aprilia,

It really isn't clear to me what you're implying. On its face, your post seems to imply that Elio has been seeking an ATVM loan since 2009, and seven years later in 2016 there's still no word of fed action on the application, therefore it's unlikely the Feds will ever approve it.

This is, to put it bluntly, patently misleading. Blackswan was retained in 2009 by Elio to help secure funding. But as you know,the ATVM program only applied to four wheeled cars back then, so the lobbying services first had to secure statutory changes to enable the ATVM program to apply to three wheeled vehicles. This was done via amendments by Rep. Bilbray and others, but their focus at that time was to get funding for Aptera, not Elio, since Elio was barely a mere twinkle in Paul's eyes at the time.

You also know, or should know, that even though the ATVM amendments were passed in 2009, DOE didn't actually amend their program to include three wheeled vehicles until 2011. And then it took them until April 2014 to actually restart their revamped loan program. Elio submitted their application soon after and EM announced their application had passed the Phase 1 (completeness) review and went to Phase 2 (due diligence) in October 2014. You know this as well.

So your implication that EM likely won't get a loan because it's been seeking one for a long time seems disingenuous to me. Their application has been with DOE for less than two years, which doesn't seem overly long for the Feds under current circumstances.

Yeah! What he said!