Paul Elio To Update Plans For Autocycle Company Friday, May 11, 2018

[raptor213]

My skepticism is in line with Elio Amazed... Elio's Regulation A+ IPO stock offering was considered a success on many accounts, despite the fact that they raised roughly $17 million, less fees and commissions, while anticipating a cash infusion of $25 million. I don't see this as any different.

Rank-and-file optimism might be high after Paul's public appearance in Caddo Parish following a week of publicity in Midvale, Utah at Overstock's annual shareholder meeting. And sure, Jones Trading may be able to push this Securitized Token Offering (STO) through just as StartEngine managed to get ELIO shares listed on the OTCQX. That's all fine and good and briefly worth celebrating.

But at the end of the day, the 76-week timeline "plus a few weeks" to dust off the cobwebs in the supply chain does not commence and start ticking until Elio brings in no less than like $86 million in new capital to spend. Refer to the last SEC report for the exact dollar figure. But only then will the 76-week clock "plus a few weeks" begin ticking down. The measly $2.5 million investment from Patrick Byrne at Overstock is only a drop in the bucket.

It sounds as though every private placement offering Paul Elio may have potentially had lined up over the past 18-24 months slipped through his fingers for one reason or another, and this first-of-its-kind STO proposition is where all of the Elio chips lie in amassing the necessary funding.

I want this project to succeed as much as the next faithful Elio supoorter, but a dose of healthy skepticism might be warranted here.

I felt compelled to look up what that dollar figure was that's needed to kickstart the 76-week-ish production timeline. It's quoted from the 2016 Year-End Annual Report 1-K, filed on May 2, 2017, as being $33 million. In other words, discounting the $2.5 million in fresh capital from Overstock last month, as far as official public statements can allege, Elio Motors must raise another $30.5 million BEFORE the 76-week-ish timeline countdown clock starts ticking. Even assuming that countdown clock starts, any funding shortfall beyond that initial $33 million to get the ball rolling will cause unspecified future delays.

 

[Marshall]

- Engineers back and working on the project
- Production starts 76 weeks plus a few weeks. So, that'll be in November 2019.
- Elio will create 20K jobs (1500 at the plant and the rest from suppliers and other businesses that will support Elio)
- $376M to get to production but the number has been cut significantly
- All suppliers on board
- Will be able to raise more than enough money for production and be cash flow positive
- $700M in pre-sales already

It's a reality folks and the Elio will be built for you to get yours at the end of 2019 and into 2020. No more delays.

I sure hope you're right. But we've heard that song and dance before. So I'm hopeful, and expect future delays to extend the start date into 2020.

 

[mkiker2089]

Is it 30 million or 300 million? People are saying both.

 

[Elio Amazed]

$376M minus some unspecified projected supplier agreement savings is needed...
To keep that clock running all the way to production as per Paul Elio on May 11th.

 

[RSchneider]

Is it 30 million or 300 million? People are saying both.

Both numbers are wrong.

Please read this from the Elio Motors website. It's the best way to know what they need and not just guess. Just a hint, read page 5 and 6.
https://ir.eliomotors.com/all-sec-filings/content/0001214659-17-005165/0001214659-17-005165.pdf

Pat Byrne says $200M but we know that's wrong because he also said that Eliocoin buyers would skip ahead in the SIL line. As we found out, Pat was wrong. So, don't trust Pat but only trust what Paul says.

 

[Bookly]

So, don't trust Pat but only trust what Paul says.

Your new $6,995 car will ship summer 2012.

 

[Tre']

I don't care if someone cuts to the front if it helps. I am just glad something is happening that we can actually see and hear about. The time waiting has given me more time to think more about the options and colors too. Not that that is a good thing, but as I have aged some my priorities have changed. Not sure if the tech has improved much for the car in that time, but it may have. I am still holding out hope it will happen...

 

[Rob Croson]

IMO, none of these announcments change anything. The Elio is still in a holding pattern, with indefinite delivery date, until we see announcements that money is rolling in by the tens-to-hundreds of millions.