Ekh
Elio Addict
The party line has been that the ATVM loan was highly desirable but not a show-stopper. That turns out to be less than the truth. My guess is that a major investor either backed out or made his further investment contingent on the ATVM loan guarantee. I would hate to think that Paul Elio has been deliberately lying about this for 6 months. He HAS been concealing the truth for at least 90 days, because that's how long he says the fund-raising company he's hired has been doing due diligence.
Paul COULD have said "we are confident in our funding, but to get things moving ASAP we are continuing to seek major financial commitments from investors." He could have said this from July on. Then he wouldn't have to back-track and deal with evidently misleading (not to say false) statements. His PR team let him down on this one. He should have been better counseled. Sorry, Jerry and others, but it was a bad call to say "we're not looking for other investors" and now to say "we have to find other investors."
Paul COULD have said "we are confident in our funding, but to get things moving ASAP we are continuing to seek major financial commitments from investors." He could have said this from July on. Then he wouldn't have to back-track and deal with evidently misleading (not to say false) statements. His PR team let him down on this one. He should have been better counseled. Sorry, Jerry and others, but it was a bad call to say "we're not looking for other investors" and now to say "we have to find other investors."
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