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

[eddie66]

Commissioners. Elio's future is out of our hands

http://www.shreveporttimes.com/stor...20/commissioners-elios-future-hands/22043699/

 

[Chris F]

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

$240,000,000 Total Needed
-$65,000,000 (already raised)
-$10,000,000 (equipment)
-$185,000,000 (AVTM loan guarantee)
Leaves you with $20,000,000 for additional working capital. Of course, this doesn't take into account any fees payable to the bank or to Comau.

 

[JEBar]

$240,000,000 Total Needed
-$65,000,000 (already raised)
-$10,000,000 (equipment)
-$185,000,000 (AVTM loan guarantee)
Leaves you with $20,000,000 for additional working capital. Of course, this doesn't take into account any fees payable to the bank or to Comau.

question, wasn't $240 million given as the amount needed from this point to get into production ....

Jim

 

[goofyone]

$240,000,000 Total Needed
-$65,000,000 (already raised)
-$10,000,000 (equipment)
-$185,000,000 (AVTM loan guarantee)
Leaves you with $20,000,000 for additional working capital. Of course, this doesn't take into account any fees payable to the bank or to Comau.

The equipment is expected to bring in about $100-120 million not $10 million.

 

[goofyone]

question, wasn't $240 million given as the amount needed from this point to get into production ....

Jim

This is a good question and frankly this has not been made very clear. After the town hall the way I understand it is that $65 million is what EM has spent, and/or has on hand, out of a total of $240 million needed to complete the project.

 

[JEBar]

This is a good question and frankly this has not been made very clear. After the town hall the way I understand it is that $65 million is what EM has spent, and/or has on hand, out of a total of $240 million needed to complete the project.

I hope that is correct .... all these numbers are way above those with which I'm used to ..

 

[John Painter]

The equipment is expected to bring in about $100-120 million not $10 million.

I hope it's $100 million, they have about $10m listed for just the presses. Sadly their ebay store doesn't show much activity, at least not for any of the big ticket items.

 

[eddie66]

This is a good question and frankly this has not been made very clear. After the town hall the way I understand it is that $65 million is what EM has spent, and/or has on hand, out of a total of $240 million needed to complete the project.

I thought I heard him say at the Caddo Parish meeting that he still needed $240,000 000

 

[Jeff Porter]

Did I miss a post or announcement? What do you mean by AVTM loan guarantee?? Do you mean Request, Submission?

Yeah, I just learned this the other day... the application to the ATVM is not a loan request, it is a loan request for a guarantee by the govt. Some other entity actually loans the money. I didn't know that until a few days ago. Did I get it correct?

 

[John Painter]

Yeah, I just learned this the other day... the application to the ATVM is not a loan request, it is a loan request for a guarantee by the govt. Some other entity actually loans the money. I didn't know that until a few days ago. Did I get it correct?

Basically correct. It's like the federal student loan program, the Feds guarantee the loan but a private bank actually loans the money. Just about got my student loan paid off!!