04/06/2015 - Octa Finance - Elio Motors Inc Just Filed Form D Announcing $3000 Million Financing

[WilliamH]

I think this may have been what Paul was talking about at the press conference..............

http://www.octafinance.com/elio-motors-inc-just-filed-form-d-announcing-3000-million-financing/

Looks like that 3000-million may be a typo.

 

[Joshua Caldwell]

Yup, inside the page is 30.00

 

[goofyone]

Elio Motors amended Form D as filed with the SEC:

http://www.sec.gov/Archives/edgar/data/1531266/000094935315000064/xslFormDX01/primary_doc.xml

Contains the expected change of broker to Network 1 Financial but it is interesting that equity was added to the offering along with the existing debt offering. Paul Elio did mention equity crowdfunding in the press conference so this matches up with that and we know there are some new SEC regulations on the way for equity offerings. I wonder if this is just an effort to expand the investment options within the 506(C) offering so that they match up better with whatever EM does within the framework of the upcoming A+ investment regulations.

 

[Kuda]

I think this may have been what Paul was talking about at the press conference..............

http://www.octafinance.com/elio-motors-inc-just-filed-form-d-announcing-3000-million-financing/

Looks like that 3000-million may be a typo.

So much for 'stealth-mode'. Paul plainly stated when asked what the $30,000,000
was for: That it will be used to fund the testing of pre-production prototypes..........if
that happens, Elio Motors will have fulfilled the greater part the ATVM requirements.......

 

[RKing]

I take this as good news, but the details are somewhat beyond my paygrade! whole buncha fancy money terms in there, Goofyone

 

[goofyone]

I take this as good news, but the details are somewhat beyond my paygrade! whole buncha fancy money terms in there, Goofyone

Very simply, this document says that EM is seeking to raise $30,000,000 in private funding from investors. There are a few more details however that is what is important to know.

Paul Elio has discussed this a few times recently and said that this funding is intended to build 25 preproduction vehicles and 31 engines. These will be used to complete the vehicle development process which will result in EM having a fully tested production ready vehicle.

 

[RKing]

Oops, I thought it said he (we) had recieved that funding, so this is "no news" since we already knew we need 230,000,000 in rough numbers?
Count me confused now????

 

[goofyone]

Oops, I thought it said he (we) had recieved that funding, so this is "no news" since we already knew we need 230,000,000 in rough numbers?
Count me confused now????

You got it, no major news here just some changes to the details.

 

[NSTG8R]

You got it, no major news here just some changes to the details.

 

['lio]

I think this may have been what Paul was talking about at the press conference..............

http://www.octafinance.com/elio-motors-inc-just-filed-form-d-announcing-3000-million-financing/

Looks like that 3000-million may be a typo.

Yes and "Elio Motors, Inc. is based in New Jersey." since when??