1/15/2014 - Ksla - Elio Motors Announces Delay, Production Expected To Start In 2016

[Ekh]

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."

 

[AriLea]

Even if they sell all the surplus equipment, that would only bring in maybe ten million. Where do you get the other two hundred thirty million? Even if the government loan were approved, it wouldn't cover the difference. What I find worse than being deceived by Elio Motors, is listening to the humility of the naysayers gloating over a mutual loss. Time for me to take a break from this forum for awhile

Yes, this is a problem for me too. 10million isn't a good estimate either. That's a pessimistic minimum. All we know for sure, is it's between the min and the max.
So I see that as simply a backup fund, a collateral for investors.

 

[Chris F]

Last summer they were saying they needed 185 million to start production. Now it's 240. Is the 240 what's still left to raise, or the original amount, whittled down to 185?

the $185MM was the AVTM loan amount, as I recall, which assumed that the company had other money as well.

 

[AriLea]

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."

lol, yes I'll buy that one. And I'm not at all trained in investment marketing. So this IS the issue to watch from now on, and we got very few periscopes into it.

 

[#491]

Paul mentioned that the suppliers "have skin in the game". I don't think they have very much if any. I beleive all their services were "fronted" to EM with strong contracts backing their intellectual property. If this doesn't get produced don't be surprised if you see the IAV engine in another new vehicle.

 

[Catia]

Rats, I'm unable to find it on the Elio Motors Owners Assoc Facebook page. Sorry. I'll keep looking.

I did find the page ..... what are you looking for?

 

[AriLea]

Character assassination? Get a grip. You come out calling me wierd for what I say and in turn post more crap? Your all in for 3 and can't accept the truth. How about 4? I'll sell you mine.

Pretty funny. if I toss a lemon into your corner. You definitely toss three back.

 

[LockMD]

Rats, I'm unable to find it on the Elio Motors Owners Assoc Facebook page. Sorry. I'll keep looking.

I found this on the EM website: http://www.eliomotors.com/11515-elio-surplus-equipment-sales-website/

but the click 'here' to be taken to the store doesn't work ????

 

[creekstone]

http://stores.ebay.com/automationrecovery1/

 

[Ekh]

I found this on the EM website: http://www.eliomotors.com/11515-elio-surplus-equipment-sales-website/

but the click 'here' to be taken to the store doesn't work ????

Link works for me.