Elio Belly Up. Fake News Or Not?

[Marshall]

http://gas2.org/2016/12/09/according-to-sec-filing-elio-motors-may-be-borked/

FAKE!

 

[Marshall]

Read the article and I confess it did have me pretty bummed (well I admit I've already been wondering what's going to happen to Elio with Trump as prez).

And then it did occur to me - why am I on a site that's supposed to be about green vehicle technology and this article has *nothing* but negativity about Elio? I mean the info about how the CAFE credits were important to Elio's business model was news to me and I appreciated that. But where was the balance to talk about the good side of Elio and what they were/are trying to do?

Finally I came here and learned the writer Joe Borras is known for slamming Elio... (search for "Joe Borras" above there's multiple threads).

FWIW here's my comment I put on the article:

I wonder who was buying after putting out the FAKE news?

 

[Marshall]

Excuse me...
I hate to bust the party, but have any of you read the latest SEC filing?
Though I find it's title offensive, there are no "fake" quotes in that article.

All of that is taken directly from the filing.

In addition to all that, this is from page 11...

"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.
Through September 30, 2016, the Company has not recorded any revenues for the sale of its vehicle product nor does it expect to record
revenues of any significant amount of product prior to commercialization of its vehicle. Once the Company’s planned principal operations
commence, its focus will be on the manufacturing and marketing of its vehicles and the continued research and development of new products.
The Company may not be profitable even if it succeeds in commercializing its product. The Company expects to make substantial expenditures
and to incur additional operating losses for at least the next several years as it continues to develop the vehicle, increase manufacturing capacity
for production, and enter into production and marketing collaborations with other companies, if available on commercially reasonable terms, or
develop these capabilities internally. The financial statements do not include any adjustments that might result from the outcome of this
uncertainty and whether the Company can continue as a going concern past 2016."

Of course, we can spin that any way we want. Here's the link to all of Elio's SEC filings...

http://www.otcmarkets.com/stock/ELIO/filings

Just a question. Did you get the purported SEC filing from an independent source or from the article and their links? Fake news is sometimes done well and thoroughly.

I'm skeptical of the skeptics.

 

[Rickb]

Just a question. Did you get the purported SEC filing from an independent source or from the article and their links? Fake news is sometimes done well and thoroughly.

I'm skeptical of the skeptics.

The source is directly from EM filings on the Elio Motors OTC markets page. Certainly not fake news, although you still may be skeptical as enthusiasts don't seem to believe EM's own statements. Odd. It would be a good idea for Elio investors and enthusiasts alike to check the required SEC filings periodically to see how things are going in EM's real world rather than making assumptions and or reading other's speculation, and or calling real news fake. I don't like what I'm reading from EM lately, but can't simply disregard it as fake.
http://www.otcmarkets.com/stock/ELIO/filings

 

[Elio Amazed]

Just a question. Did you get the purported SEC filing from an independent source or from the article and their links? Fake news is sometimes done well and thoroughly.

I'm skeptical of the skeptics.

Well, if you bother to read my post, you'll see that I've provided a link to all of EMs filings from an independent source.
Or... better yet, you're more than welcome to search and find an independent source that suites you.
You'll find that all three versions are the same and are the actual filings.

I read the entire filing almost a month ago.

 

[aahz]

I was just watching wheels that fail and they briefly showed the orange elio and called it the disposable plastic car? Not sure what they were talking about it was only in the screen for a couple seconds. Weird...
Personally I don't care what any one of them say, I'm waiting patiently for mine!

It will happen!

 

[Rickb]

I was just watching wheels that fail and they briefly showed the orange elio and called it the disposable plastic car? Not sure what they were talking about it was only in the screen for a couple seconds. Weird...
Personally I don't care what any one of them say, I'm waiting patiently for mine!

It will happen!

Aahz, I like your laid back style! It's got to help keep the blood pressure in check.

 

[Ekh]

Read the article and I confess it did have me pretty bummed (well I admit I've already been wondering what's going to happen to Elio with Trump as prez).

And then it did occur to me - why am I on a site that's supposed to be about green vehicle technology and this article has *nothing* but negativity about Elio? I mean the info about how the CAFE credits were important to Elio's business model was news to me and I appreciated that. But where was the balance to talk about the good side of Elio and what they were/are trying to do?

Finally I came here and learned the writer Joe Borras is known for slamming Elio... (search for "Joe Borras" above there's multiple threads).

FWIW here's my comment I put on the article:

Joe Borass, to my personal knowledge and experience, is an unstable, bitter, and very very unsavory human being. do nit take him seriously.

 

[aahz]

Gotta keep it positive. There's to much bs lately. A lot of speculation and garbage from nay sayers and people just wanting to hurt and discourage. Tired of people whining foul play! Take a look on the Facebook elio club, ohh my lord, please.. If you don't believe in an American start up, by all means don't. I believe we will be strong again! Elio has a Great product and it WILL be made! Nough said!!!

 

[Darren Cruse]

If the worst comes to pass, and e.g. the chance of an ATVM loan evaporates under the Trump admin, can the project succeed without it?

e.g. this SEC filing is asking to sell more Elio shares correct? But would even that be enough to start production?

The other thing that I wondered is could there be a chance of a buyout? I'm not really a business guy (I'm a software engineer), but a quick calculation shows the 62K+ reservations at $7300 each is over $450 *million* dollars. I guess there's not much profit at such a low price, but there's got to be some, and I assume the engineering is mostly complete at this point... this isn't enough to attract an established car maker to take over the project and produce them in their own plant?