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Elio Court Hearing On 3/27/2018...

AriLea

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Well, by this I'm not suggesting anything at all, but if a chapter 7 were ever filed, it's possible someone would buy-up everything left over. In that way, at least one Aptera prototype ended up in Chinese hands, and was used to hook some investment money, then totally vanished.

Sometimes an interested investor/or/company will allow that to happen, then scarf everything thing back up and reboot. It all depend on how the current materials and intellectual properties lend themselves to a re-boot. At min the Davenport deal would be in jeopardy.
 

Sega

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Elio responded to my question about the court case:


The Elio Customer Experience Team (Elio Motors)

Mar 28, 13:15 EDT

It was postponed and will be rescheduled in May is what we understand.

Make sure to check out our blog at www.eliomotors.com/blog

Thank you,
The Elio Team

The SMART ones are BUYING!
No....no smart person is buying elio stock. If I had the money, I'd short it. I've been saying that since the price was far higher.

I decided to just call the Clerk of Courts and ask if the case has been rescheduled.

Case 775320 Elio vs State of Louisiana
Originally scheduled for March 27, 2018
Rescheduled for May 15 at 10:00 AM

Sounds like they may have been hesitant to tell people the date of the court case. Not a shocker. They seem to be very vague on any real info. I think it's because the real info isn't good info.
 

Elio Amazed

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Well, by this I'm not suggesting anything at all, but if a chapter 7 were ever filed, it's possible someone would buy-up everything left over. In that way, at least one Aptera prototype ended up in Chinese hands, and was used to hook some investment money, then totally vanished.

Sometimes an interested investor/or/company will allow that to happen, then scarf everything thing back up and reboot. It all depend on how the current materials and intellectual properties lend themselves to a re-boot. At min the Davenport deal would be in jeopardy.

*Sigh*... I've been saying that for a couple of years now.

As far as the EM representative not knowing when the hearing was re-scheduled for...
EM likely can't afford to keep a phone in that little 8' x 10' shack where Bob Cratchit toils away...
His days and nights answering email and recycling the filing cabinet of old Momentums and Friday blogs.
 
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RSchneider

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If I was in this situation, I would have found someone else and formed a LLC 18 months ago. Someone that has never been on the books at Elio. As of the last SEC filing, Elio only owes money to CH Capital and Racer Trust and Stu. That is just a fine because it's just all on paper. Bankruptcy would just have CH take control of the existing equipment in the plant and they would just sell it off for peanuts. Racer Trust and Stu would just get paid from the guy that formed that LLC 18 months ago when he pays for the IP and all car related physical assets. Again, that will be for peanuts.

I'd then just sit silent for 6 months. Then come out with a one page website that explains that the Elio dream will continue on and blah, blah, blah (a bunch of fluff to make people feel warm and fuzzy inside). Then the second paragraph will be to the existing all ins and how you will be honoring those contracts to a certain degree and news will follow soon. What this does is gives the 57K all ins hope that they are not getting thrown under the bus.

6 months from that I'd have an update on the car and show the new changes and progress. I also would have a new system where the all ins will have to re register and show proof of being an all in. Then have some sort of boilerplate where there's no guarantee on price and that the ownership is not transferable (even if you will it to someone). Give everyone a deadline of a month and anything after that will not be processed. What that does is if you put in $1K all in, you get a $1K discount off the new MSRP. All of this down to $100. When you see the reaction then that will give you the idea of how serious people are and what the true market is for the die hard fans.

When that's done, you then decide the new MSRP and production levels. After that, you do a new IPO and raise money yet again for R&D and manufacturing. That will get you at least 2 years of money to make a second run of it. If that doesn't work, you just go in a different direction.
 

Samalross

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If I was in this situation, I would have found someone else and formed a LLC 18 months ago. Someone that has never been on the books at Elio. As of the last SEC filing, Elio only owes money to CH Capital and Racer Trust and Stu. That is just a fine because it's just all on paper. Bankruptcy would just have CH take control of the existing equipment in the plant and they would just sell it off for peanuts. Racer Trust and Stu would just get paid from the guy that formed that LLC 18 months ago when he pays for the IP and all car related physical assets. Again, that will be for peanuts.

I'd then just sit silent for 6 months. Then come out with a one page website that explains that the Elio dream will continue on and blah, blah, blah (a bunch of fluff to make people feel warm and fuzzy inside). Then the second paragraph will be to the existing all ins and how you will be honoring those contracts to a certain degree and news will follow soon. What this does is gives the 57K all ins hope that they are not getting thrown under the bus.

6 months from that I'd have an update on the car and show the new changes and progress. I also would have a new system where the all ins will have to re register and show proof of being an all in. Then have some sort of boilerplate where there's no guarantee on price and that the ownership is not transferable (even if you will it to someone). Give everyone a deadline of a month and anything after that will not be processed. What that does is if you put in $1K all in, you get a $1K discount off the new MSRP. All of this down to $100. When you see the reaction then that will give you the idea of how serious people are and what the true market is for the die hard fans.

When that's done, you then decide the new MSRP and production levels. After that, you do a new IPO and raise money yet again for R&D and manufacturing. That will get you at least 2 years of money to make a second run of it. If that doesn't work, you just go in a different direction.
If I was Stu, I would pull plug and get a new Paul Elio. Keep the reservation holders but have nothing to do with ESG. Stu has control of the equipment and building, nothing else worth much. He could get the reservation list for peanuts, or be like Solo and offer to transfer the deposits. ESG and Paul Elio bring a lot of debt, poor decisions and expenses to the car, not much else.
 

RSchneider

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If I was Stu, I would pull plug and get a new Paul Elio. Keep the reservation holders but have nothing to do with ESG. Stu has control of the equipment and building, nothing else worth much. He could get the reservation list for peanuts, or be like Solo and offer to transfer the deposits. ESG and Paul Elio bring a lot of debt, poor decisions and expenses to the car, not much else.
Stu is a real estate guy. From the ones I know that are quite successful, they are approached over and over again with business opportunities. that coincidentally have to do with properties they own. The reason why guys like Stu are so wealthy is because they stick to real estate and don;t get in too much with all of these other opportunities. What they all do is make sure they are protected and any money they so have to put out, will get paid back no matter what. He's not the guy that needs to take over.

Part of the scenario is to form yet another LLC by some unknown person and their only employee is Paul. Then that company becomes the #1 contractor for the new Elio company. That way, Paul still gets to be involved without anyone knowing about it. The key is to honor the deposits but not the price. So, if the car needs to be $10K, then the $1K all ins get it for $9K.
 

Samalross

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Stu is a real estate guy. From the ones I know that are quite successful, they are approached over and over again with business opportunities. that coincidentally have to do with properties they own. The reason why guys like Stu are so wealthy is because they stick to real estate and don;t get in too much with all of these other opportunities. What they all do is make sure they are protected and any money they so have to put out, will get paid back no matter what. He's not the guy that needs to take over.

Part of the scenario is to form yet another LLC by some unknown person and their only employee is Paul. Then that company becomes the #1 contractor for the new Elio company. That way, Paul still gets to be involved without anyone knowing about it. The key is to honor the deposits but not the price. So, if the car needs to be $10K, then the $1K all ins get it for $9K.
I think that Paul needs to be gone. Stu needs to hook up with an Elon Musk type guy. Someone with money.
 
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