wizard of ahs
Elio Addict
The filler neck and the gas tank are NO WHERE.............there aren't any yet ...........
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You can register using your Google, Facebook, or Twitter account, just click here.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.I thought it was due to them running out of money and being forced to curtail there business sharply for the time being. 100K isn't much to work with especially considering some employees make 250K a year.
As one member said, most partners don't dump you when you don't pay them, they just don't work on your project. Which makes sense. That way if Elio gets some more money to pay them they will do some more work.
In the end, I think you just have to believe what you want on why the endless tours has halted and why more engineering vehicles are not being built. Until an official announcement.
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."
I have an additional comment, relating to how I feel about the struggle to keep our company alive.
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.
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 -- 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 bee 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.
And so they're supposed to wait 3 years before paying anyone back?The first 65000 will cost Elio more than 420 million to make. Successful companies usually take about three years before they start paying down debt.
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...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."