My only real concern about the equipment is that it's being used by EM to build Elios.I don't think EM paid $26M for the equipment. I think that was a RACERS Trust valuation. I also think GM spent more than that initially.
Based on Bruce Rasher's response at the 8/13 meeting, Elio paid $3M six months prior. The next payment due (shortly) was $2.2M. And monthly payments of $175K were to start in three months and end in 30 months.
My rough calculation for the equipment purchase is $10M ($3M + $2.2M + $4.8M). And, EM will own the equipment free-and-clear in the spring of 2016 (assuming payments went/go as planned).
Heck I'd even settle on seeing the equipment tooled up and ready to build Elios with a newly hired and trained factory worker standing alongside the line doing a thumbs up with a big smile on their face about to push the start button that gets the line rolling to manufacture reservation #01 as they roll it out to the receiving area where Paul Elio hands me the keys, I get in, fire it up, wave and yell job well done, and drive it back to Idaho......oh wait I must be dreaming again.