RUCRAYZE
Elio Addict
Haven't ya noticed the "Sounds of Silence" here. EVERYBODY's waiting for that very announcement!! $= our Elios
-
Welcome to Elio Owners! Join today, registration is easy!
You can register using your Google, Facebook, or Twitter account, just click here.
04/06/2015 - Octa Finance - Elio Motors Inc Just Filed Form D Announcing $3000 Million Financing
- Thread starter WilliamH
- Start date
ElioDigger
Elio Addict
all's well.... carry on....
I thought in the video Paul said 65mil not K
In publicly traded companies, ownership is measured in shares. The more money a person puts into a company, the more they own of the company, meaning the more shares they own.
In the current investment opportunity program, and the new less restrictive investment opportunity program coming up in 60 days, they are equity meaning people will own a part of the company (as I understand it). How will the amount of this ownership be measured? Will there be shares? Will people have voting rights? (I suspect there will be no voting rights if Paul Elio has anything to say about it.)
In the current investment opportunity program, and the new less restrictive investment opportunity program coming up in 60 days, they are equity meaning people will own a part of the company (as I understand it). How will the amount of this ownership be measured? Will there be shares? Will people have voting rights? (I suspect there will be no voting rights if Paul Elio has anything to say about it.)
In the document filed by EM
http://www.sec.gov/Archives/edgar/data/1531266/000094935315000064/xslFormDX01/primary_doc.xml
It says in item 15 "the amounts of sales commissions and finders fees expenses" is $3,000,000 which is 10%.
In item 16 it says "Provide the amount of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters in response to Item 3 above". Item 3 is the board of directors. The amount specified is $4,000,000.
Thus, of the $30,000,000 it appears $3,000,000 goes to Network 1 Financial and $4,000,000 go to Paul Elio and the executives. This leaves $23,000,000 or 77% for the project.
Previously Paul Elio has said less than 1% of their money has gone to the executives. The previous money he was talking about may have been a much larger amount of money. Perhaps these people have not been paid and are owed back pay. Perhaps these are standard fees and salaries. They probably are. The bigger percentage Network 1 Financial gets, probably the harder they work at raising money.
Perhaps they should have asked for $37,000,000 so Elio Motors will have the $30,0000,000 for the project as they have said they need.
Check it out yourself. Click on the address above and look at items 15,16.
Since I noticed these amounts, I obviously know nothing about money.
Interesting.
http://www.sec.gov/Archives/edgar/data/1531266/000094935315000064/xslFormDX01/primary_doc.xml
It says in item 15 "the amounts of sales commissions and finders fees expenses" is $3,000,000 which is 10%.
In item 16 it says "Provide the amount of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters in response to Item 3 above". Item 3 is the board of directors. The amount specified is $4,000,000.
Thus, of the $30,000,000 it appears $3,000,000 goes to Network 1 Financial and $4,000,000 go to Paul Elio and the executives. This leaves $23,000,000 or 77% for the project.
Previously Paul Elio has said less than 1% of their money has gone to the executives. The previous money he was talking about may have been a much larger amount of money. Perhaps these people have not been paid and are owed back pay. Perhaps these are standard fees and salaries. They probably are. The bigger percentage Network 1 Financial gets, probably the harder they work at raising money.
Perhaps they should have asked for $37,000,000 so Elio Motors will have the $30,0000,000 for the project as they have said they need.
Check it out yourself. Click on the address above and look at items 15,16.
Since I noticed these amounts, I obviously know nothing about money.
Interesting.
NSTG8R
Elio Addict
I get a proxy voting form from Boeing every year. But it's for voting in/out BoD members...nothing about the Company's day-to-day activities or future/present contracts. I "assume" that Elio shareholders voting rights will fall along these lines....emphasis on "assume".
It is interesting and we have actually discussed this in another thread when the original filing was made. The part about the commission is pretty straight forward as the broker needs to be paid and they will be paid a percentage for what they sell up to $3 million if they sell all $30 million which we all hope they do. On the form EM must disclose proposed or expected payments up to that amount however as this is an estimate it does not mean that EM will actually spend all that amount. Also by law this amount must be listed for any payment to the board members or any legal entities these have interest in. So this number of up to $4 million could also be payments for services rendered to EM by board members' companies. Then we have things such as any loans given by board members to EM being paid back or as mentioned standard fees and salaries. Thanks to all this it is really not very easy to determine what is going on with that money.
It is highly likely that EM is well aware of what their net proceeds from this round of funding will be and have planned accordingly to cover what they need to complete their goals for these funds. As usual when it comes to things like this we just do not enough information to draw and real conclusions even if may be interesting to discuss. The reality is that as usual our best bet is to sit back and enjoy the show.
eliothegreat
Elio Addict
The commission rate went from 7% to 10% when the amendment was made to add equities to the filing.
The sold figure went from $150k to $215k. It would make sense that $50k covered the fees for the change in the filing. Perhaps some accredited investor actually invested $15k? Up until this point, it would appear that none of the current or previous offerings had any "outside" investors.
The sold figure went from $150k to $215k. It would make sense that $50k covered the fees for the change in the filing. Perhaps some accredited investor actually invested $15k? Up until this point, it would appear that none of the current or previous offerings had any "outside" investors.
You would be correct that based on this amended filing the current offering has not seen much movement so far. However it is impossible to say how successful, or not, the previous offerings have been since EM is a private company and as such is under no obligation to disclose this information. For this type of offering public disclosure, by filing Form D, is only required after the first sale without any further information being disclosed publicly.