Defect In The Elio?!

[NSTG8R]

Just read this! But it doesn't say what the specific "defect" is.

http://710keel.com/elio-announces-more-delays-says-cars-may-have-defect/

 

[Rob Croson]

Does any news reporter even have an f'ing brain anymore?

Srsly, this is libel material.

This is standard language for the filing. It is one of the possible risks of investing in the startup venture.

 

[NSTG8R]

Does any news reporter even have an f'ing brain anymore?

Srsly, this is libel material.

This is standard language for the filing. It is one of the possible risks of investing in the startup venture.

Exactly! Found the paragraph in the SEC filing that they cherry picked to come up with the BS headline.

If our vehicles fail to perform as expected, our ability to develop, market and sell our vehicles could be harmed.

Our production vehicles may contain defects in design and manufacture that may cause them not to perform as expected or that may require repair. While we have performed extensive internal testing, we currently do not have a frame of reference by which to evaluate the performance of the Elio in the hands of our customers. There can be no assurance that we will be able to detect and fix all defects in the vehicles prior to their sale to consumers. We may experience recalls in the future, which could adversely affect our brand in our target markets and could adversely affect our business, prospects and results of operations. Our vehicles may not perform consistent with customers’ expectations or consistent with other vehicles currently available. For example, the alternative design of our vehicles may not have the durability or longevity of more traditional current vehicles, and may not be as easy to repair as other vehicles currently on the market. Any product defects or any other failure of our vehicles to perform as expected could harm our reputation and result in adverse publicity, lost revenue, delivery delays, product recalls, product liability claims, harm to our brand and reputation, and significant warranty and other expenses, and could have a material adverse impact on our business, financial condition, operating results and prospects.

 

[booboo]

Just read this! But it doesn't say what the specific "defect" is.

http://710keel.com/elio-announces-more-delays-says-cars-may-have-defect/

I think the article is contextually confusing.
Elio is just saying defects are possible when making a product, not that their product is defective. Standard disclaimer.

 

[W. WIllie]

That part was probably written by a lawyer.
Like BOO said normal disclaimer.

 

[Johnny Acree]

I hold KEEL and Jalopnik in the same regard. They will get no clicks from me.

 

[Kuda]

I think the article is contextually confusing.
Elio is just saying defects are possible when making a product, not that their product is defective. Standard disclaimer.

SEC Boilerplate.....

 

[Doug McDow]

Exactly! Found the paragraph in the SEC filing that they cherry picked to come up with the BS headline.

If our vehicles fail to perform as expected, our ability to develop, market and sell our vehicles could be harmed.

Our production vehicles may contain defects in design and manufacture that may cause them not to perform as expected or that may require repair. While we have performed extensive internal testing, we currently do not have a frame of reference by which to evaluate the performance of the Elio in the hands of our customers. There can be no assurance that we will be able to detect and fix all defects in the vehicles prior to their sale to consumers. We may experience recalls in the future, which could adversely affect our brand in our target markets and could adversely affect our business, prospects and results of operations. Our vehicles may not perform consistent with customers’ expectations or consistent with other vehicles currently available. For example, the alternative design of our vehicles may not have the durability or longevity of more traditional current vehicles, and may not be as easy to repair as other vehicles currently on the market. Any product defects or any other failure of our vehicles to perform as expected could harm our reputation and result in adverse publicity, lost revenue, delivery delays, product recalls, product liability claims, harm to our brand and reputation, and significant warranty and other expenses, and could have a material adverse impact on our business, financial condition, operating results and prospects.

Sounds pretty standard to me, but what the hell do I know? I don't work for a La. news agency!

 

[RUCRAYZE]

as Abe Lincoln said "if it's on the net it's true"

 

[floydv]

Damned if you do (caveat everything), damned if you don't.