Tzero And Eliocoin Are Having Funding Issues

The trading platform for ElioCoin is running into funding issues.

A long-awaited capital infusion for Overstock and its tZERO security token platform has been delayed again, and significantly downsized.

GSR Capital, a Hong Kong-based private equity firm, was supposed to close the investment on Feb. 28. But on Friday, Overstock said the deal had not closed, and that the delayed funding agreement has been reduced by more than 75%.

Currently, the tZero STO tokens are traded on tZERO’s alternative trading system at just $3.50 per token. The tZERO STO token were originally sold to investors at $10 in 2018.

Traders who invested in tZERO STO tokens have been waiting for news about the deal for several months, expecting it to boost the falling price of their tokens. But, Friday’s announcement left many investors disappointed.

“The news is disheartening,” said token investor Sean LaFlamme. “If I’m not sure tZERO is adequately funded, I won’t be putting further investment in it.”

TexasTesla said:

The trading platform for ElioCoin is running into funding issues.

A long-awaited capital infusion for Overstock and its tZERO security token platform has been delayed again, and significantly downsized.

GSR Capital, a Hong Kong-based private equity firm, was supposed to close the investment on Feb. 28. But on Friday, Overstock said the deal had not closed, and that the delayed funding agreement has been reduced by more than 75%.

At the moment, the tZero STO tokens are traded on tZERO’s alternative trading system at just $3.50 per token. The tZERO STO token were originally sold to investors at $10 in 2018.

Traders who invested in tZERO have been waiting for news about the deal for several months, expecting it to boost the falling price of their tokens. But, Friday’s announcement left many investors disappointed.

“The news is disheartening,” said token investor Sean LaFlamme. “If I’m not sure tZERO is adequately funded, I won’t be putting further investment in it.”

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This is certainly disheartening news for the Elio Motors cause. Always with promising news, then before you know it, it all slides backwards.

An ugly as sin Rivian can get $700 +million cash to get going, but Elio can't catch a break with "only" needing around $300 million

Amazon only invests in new technology, so Elio Motors would never fit Amazon’s business model.

Elio Motors is burden with huge amounts of debt. I’m not so sure what Elio can offer investors at this point.

TexasTesla said:

Amazon only invests in new technology, so Elio Motors would never fit Amazon’s business model.

Elio Motors is burden with huge amounts of debt. I’m not so sure what Elio can offer investors at this point.

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They'd need to sell the company to China at this point. I want an Elio so maybe I'm biased but this needs to come out. I can't believe that America only wants suv and gas guzzlers.

mkiker2089 said:

They'd need to sell the company to China at this point.

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The Chinese are fully committed to furthering EV vehicle technology.

Elio vehicles with an ICE drivetrain would have no value to them.

mkiker2089 said:

They'd need to sell the company to China at this point. I want an Elio so maybe I'm biased but this needs to come out. I can't believe that America only wants suv and gas guzzlers.

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Perhaps America has been marketed to the point that consumers don’t know what they need. I’m an American and have no interest, whatsoever, in gas guzzlers. However, I do have interest in a primary high performance, long range, affordable Sport Utility EV and a stylish, fun to drive, gas sipping, three wheeler to supplement that NMG-SUV.

So what is Paul Elio actually doing in his full focus on funding? It appears he has put all his eggs in the Eliocoin basket and is now waiting to see what happens. Perhaps he should be hitting up all his "influential" board of directors to maybe get something else going. Looking at some of the stock information, something like 89% of the company is privately held.

With Paul Elios "no financial talk" rule, if Elio does go bankrupt, I would expect he would refund the refundable deposits and then simply turn off the Elio website. No explanations or anything else. Remember, he can't talk about finances and bankruptcy would fall into that category.
We may feel he owes us an explanation, but the reality is he owes us nothing.

I still have hope that Elio succeeds, but as each day goes by hope is diminishing.

A year or so ago, Paul Elio made this “Production WILL start a year and a half from now in 2019” and 1500 jobs will come to Caddo Parrish statements and likely why he hasn’t made additional statements since that time:

I, personally, kind of like the Rivian vehicles. Different? Yes. Ugly? Hardly.

Amazon thinks that also. They just ivesteded 700M in the company. Do you think it will beat TESLA to the market?