wizard of ahs
Elio Addict
The filler neck and the gas tank are NO WHERE.............there aren't any yet ...........
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Another Year Gone By...has Anything Changed?
- Thread starter KScarguy
- Start date
BaldGuy
Elio Addict
Looks like according to the recent filings I was right about why Elio halted development and the tours. (course, wasn't a hard guess). Least its good they didn't feel the need to cut Paul and other top executives pay (250K). So perhaps that's encouraging that times are not too bad yet.
Ekh
Elio Addict
OK. Update. ELIO IS NOT DEAD YET (just like my car plate NT DED YT).This is hard times but I am aware of two very large financial entities who are actvively engaged with Elio Motors. As for the SEC filings, I don't know what occasioned the huge increase in start up cost estimate.
As one source told me, "the only people who use SEC filings are those who want to short a company's stock."
As one source told me, "the only people who use SEC filings are those who want to short a company's stock."
booboo
Elio Addict
" Our previous funding requirement was $312 million, which did not include approximately $64 million in supplier equipment commitments. The additional commitments have been added to the current funding requirements "
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=12029151
Ekh
Elio Addict
I have an additional comment, relating to how I feel about the struggle to keep our company alive.
What i see is people trying every route they can find to get their dream to live. They are going to go down knowing they did their best -- if they go down, which I think more likely than not. But not inevitable!
I am greatly bothered by they extra hundred and thirty million they now say then need. Two years ago, they thought $240 would do it, then $276, then $312, and now the added-in supplier equipment commitments (I thought the suppliers were meeting those, not being fronted by Elio).
But -- stop and think -- the market value of the 65000 reserved cars is $420 million, not counting options. So if it costs $376 million to get rolling, they can STILL pay that back out of first year production (not that they would -- spread it out over 3 years so there's some working capital to use to build the biz.) Looked at that way, and I'm sure some well-heeled people ARE looking at it that way, Elio is still a good bet.
But Projects like these do carry lots of risks, only some of which are money related. Those of us who have rolled up our sleeves to make this happen may feel betrayed or at least bitterly disappointed.
There's a difference between grief and outrage. I certainly understand the first feeling if the Elio doesn't make it. But there is zero evidence of ineptitude, greed, stupidity, corruption, fraud, or any malign intent. Elio is run by people who are sweating blood to make it work for all of us. Outrage just isn't appropriate.
But I don't see a possible Elio failure as a reason to stop trying to build a better life for millions ... if not Elio, there are two other projects I'm aware of that are worth fighting for. One provides clean water -- removes heavy metals, biologicals, you name it -- down to the 4 micron level -- portable (relatively), cheap (realtively), and valuable for cleaning up things like black water ponds and providing water to refugee camps in the Sudan. This device has been tested by a couple of universities, one on livestock ponds, the other cleaning up fracking water ponds. They work.
Then there's the guy I know who has developed a really good way to separate hydrogen from water, using solar power (or any other source), then either storing it as energy in pressurized tanks and running it back through a fuel cell later, thus forming an enormous battery of sorts -- or feeding the hydrogen directly into ICE or steam turbines .... it's not net zero (no perpetual motion yet), but it's a damn good system -- membrane based, which is why it's efficient. Test units have been ordered by Dubai and the State of Hawaii. So that one's real, too.
So things are happening. Not all projects live up to their promise. But I intend to take my last few at bats swinging lustily. We all strike out in the end, but until that time -- I'll take my chances on disappointment on the off chance I can do some good and maybe make a nickel while I'm at it.
What i see is people trying every route they can find to get their dream to live. They are going to go down knowing they did their best -- if they go down, which I think more likely than not. But not inevitable!
I am greatly bothered by they extra hundred and thirty million they now say then need. Two years ago, they thought $240 would do it, then $276, then $312, and now the added-in supplier equipment commitments (I thought the suppliers were meeting those, not being fronted by Elio).
But -- stop and think -- the market value of the 65000 reserved cars is $420 million, not counting options. So if it costs $376 million to get rolling, they can STILL pay that back out of first year production (not that they would -- spread it out over 3 years so there's some working capital to use to build the biz.) Looked at that way, and I'm sure some well-heeled people ARE looking at it that way, Elio is still a good bet.
But Projects like these do carry lots of risks, only some of which are money related. Those of us who have rolled up our sleeves to make this happen may feel betrayed or at least bitterly disappointed.
There's a difference between grief and outrage. I certainly understand the first feeling if the Elio doesn't make it. But there is zero evidence of ineptitude, greed, stupidity, corruption, fraud, or any malign intent. Elio is run by people who are sweating blood to make it work for all of us. Outrage just isn't appropriate.
But I don't see a possible Elio failure as a reason to stop trying to build a better life for millions ... if not Elio, there are two other projects I'm aware of that are worth fighting for. One provides clean water -- removes heavy metals, biologicals, you name it -- down to the 4 micron level -- portable (relatively), cheap (realtively), and valuable for cleaning up things like black water ponds and providing water to refugee camps in the Sudan. This device has been tested by a couple of universities, one on livestock ponds, the other cleaning up fracking water ponds. They work.
Then there's the guy I know who has developed a really good way to separate hydrogen from water, using solar power (or any other source), then either storing it as energy in pressurized tanks and running it back through a fuel cell later, thus forming an enormous battery of sorts -- or feeding the hydrogen directly into ICE or steam turbines .... it's not net zero (no perpetual motion yet), but it's a damn good system -- membrane based, which is why it's efficient. Test units have been ordered by Dubai and the State of Hawaii. So that one's real, too.
So things are happening. Not all projects live up to their promise. But I intend to take my last few at bats swinging lustily. We all strike out in the end, but until that time -- I'll take my chances on disappointment on the off chance I can do some good and maybe make a nickel while I'm at it.
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Trusting
Elio Addict
I'm sure many of you know more about finance than I do, so here's a thought in brief, what do you think?
Out there somewhere there is a well heeled financier watching Elio like a vulture watches a dying horse. As soon as Elio goes bankrupt he will swoop in, pick up all the rights, designs, equipment , etc, etc.... for pennies on the dollar, and bring the car into production.
Ok, that's it, now GO !
Out there somewhere there is a well heeled financier watching Elio like a vulture watches a dying horse. As soon as Elio goes bankrupt he will swoop in, pick up all the rights, designs, equipment , etc, etc.... for pennies on the dollar, and bring the car into production.
Ok, that's it, now GO !
And so they're supposed to wait 3 years before paying anyone back?
Why? Why not take the money and run? Do the 3 years worth of build, pocket all the cash, and find a country with no extradition.
This way you get a lot of them out there, you keep all the cash, and wave bye - bye to everyone, and disappear, never to be heard from again.
Perfect fairy tale ending ..
Sailor Dog
Elio Addict
Read online on future Elio owners that Oppenheimer has skin in the game & Roush has substantial sweat equity. Wonder who the second or more sources of funding are that await Secretary Perry's look into the Loan Program in regards to ELIO. The last two momentum headlines demand reading between the lines... Suspension of Disbelief (for the doubting Thomas's) and Electric Details! Stay tuned...