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Elio Amazed

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Looks like Paul is releasing some of his millions of shares before he calls it quits; guess $250,000.00/yr wasn't enough while normal entrepreneurs hardly pay themselves until the company is up and running.
Why, did Elio Motors make an announcement and filing with the SEC to release more reserved stock into the market?

Otherwise, I'm pretty sure that they cannot legally do so.
In which case, the only stock that can be sold on the market is that which has already been issued.

Although there very well may be a possibility that this is insider trading...
Namely, the major non-board investor rats jumping from a ship they perceive to be on fire.
But I'm pretty sure that board members have to announce their sales before, or at least at the time of, the sale.
And we've seen none of that significant information in the news.

Even if Elio Motors filed and released reserved stock, any raise in P.E.'s compensation would have to be approved by a board vote.
Again, I believe P.E. would have to make an announcement of selling any personally owned shares at least before or at the time of sale.
 
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