Interesting Comments From Patrick Byrne And Paul Elio...

[Rob Croson]

The people here won't "lose money", as the deposts are in escrow.

Only partially true. Going by SILs, at least one-third of all deposits were all-in, which means that their money is all spent. Only refundable "want-in" deposits are held in escrow. And according to EM, those are onyl a small portion of all deposits. Exact figures wee never given. Most likely, significantly under half by number, and much less by dollar value.

 

[RSchneider]

From the Elio website:

As a special incentive if non-refundable reservation holders made a binding purchase commitment, the
locked price is reduced to $7,000. As of March 31, 2017, the Company had received 65,255 total reservations, of which 36,435
had received the locked price of $7,300 and 21,204 had made a binding purchase commitment and had received the locked price of $7,000

That means, 7,616 have refundable.

From the Elio website (listing only the restricted cash dealing with reservations):

the Company has recorded $2,013,605 and $5,816,407 as restricted cash held for customer deposits as of
December 31, 2016 and 2015, respectively. These amounts include amounts held as restricted that relate to refundable customer
deposits, as well as amounts held as reserves by credit card processors.

That means only just over $2M are sitting where they can't touch it and the rest of the deposits people put down, has already been spent.

https://ir.eliomotors.com/all-sec-filings/content/0001567619-17-001564/0001567619-17-001564.pdf

 

[acentre]

From the Elio website:
That means, 7,616 have refundable.

From the Elio website (listing only the restricted cash dealing with reservations):
That means only just over $2M are sitting where they can't touch it and the rest of the deposits people put down, has already been spent.

https://ir.eliomotors.com/all-sec-filings/content/0001567619-17-001564/0001567619-17-001564.pdf

I would be happy to get my $1000 deposit back and use it for an Arcimoto.

 

[mkiker2089]

I would be happy to get my $1000 deposit back and use it for an Arcimoto.

This is one that most can agree with. I assume the non-refundable deposit was so they could have unrestricted funds to proceed. Restricted funds usually cost more in maintenance and are pretty much useless.

I think a compromise would be to let people buy you out. Say that I now want in and you want out. Even if Elio demanded I double the deposit then that would be doable (so they still gain the 1k from me that they fear losing if they let you sell your spot.)

It won't happen, but we can dream. I think it would buy them some good will and perhaps add a few more dollars to the piggy bank.

 

[Marshall]

FYI a half filled glass is always half empty

And verse visa.

 

[Sega]

Can we stop acting like Elio Motors is a glass that's half empty or half full? It has approximately one drop in it right now.

This would be like if a football team was down 40 points with 3 minutes left in an NFL game. That isn't a half full situation.

 

[FC]

Can we stop acting like Elio Motors is a glass that's half empty or half full? It has approximately one drop in it right now.

This would be like if a football team was down 40 points with 3 minutes left in an NFL game. That isn't a half full situation.

The individuals who own the glass, and actually know how much is in it seem optimistic.

 

[Sega]

The individuals who own the glass, and actually know how much is in it seem optimistic.

The people who own it have been wrong on almost every thing they've said the last 6 years.

Even Ray Charles can see that the glass isnt anywhere near half full.

They still need a boat load of money before they can start making any progress....

 

[Coss]

Excuse me, this conversation isn't going anywhere productive, let's just end it right here.
Before it get's the wrong people PO'd and starts something we really don't need.

OK??

In other words, before it get's to a point (which it is very close to) that ends up going no where, let's end it Sega.