Anyone Else Buy Some Shares?

[Ellen Bendana]

Anyone else invest in some shares? I figured at $12.00 per share, when Elio comes to market it will go up in value...so even though I only have a $100 all in reservation, I did buy 100 shares!

 

[Johnny Acree]

I believe some of us have. Not enough, but some. Which is good and bad. Good for me, I got all the shares I requested in the open window part. Bad for Elio, hasn't gotten all the money it needs as quick. Good for you, you got a chance to join the party!
Welcome!

 

[NSTG8R]

Jumped on 500 shares myself.

 

[LillyMayPatterson #1685 & #5648]

Hi Ellen, Glad to met another Woman. Stick around, we have fun here, lol.
I agree with Johnny. I surmised about the same. But, I am not worried about it. Elio stated they got the monies to START building the new series. That was all the information I needed to know that this phase is on track. They did not get the full amount from us groupies. So, they opened it up to the public. They have till December 31 to raise 12 million. I am sure this goal will be reached. Then elio has till, I believe March something to raise all the way up to $25 or $30 million. This is achievable ! To think at one time I was worried about having enough money to keep the electric on for my family to saying $30 million dollars is achievable. WOW!
Oh, yeah Ellen, I want to mention and I hope everybody here understands that this is a long term investment. I understand our stock value is already heading south. The stock will be worth pittance as soon as the money is released out of escrow. It might stay this way for a few years. But, come January First, we will own our stock regardless and someday it just might be worth something. Only a little part of 8% but I've rode this dream this far and it has been exciting.

 

[Okie51]

I bought 115 shares. 65 in reserved offer, and 50 more in public offer. I was trying to get an even hundred, but this is best I could do. I hope as LillyMay it grows like a mustard seed.

 

[Chris F]

100 shares.

 

[Bill Hirst]

Shame on me for not understanding how this sale was going to proceed. I assumed when they said the stock would be sold to the public it would be like an IPO. That means Elio would be given a trading symbol and put on an exchange where it could be bought and sold. This seems not to be the case. It seems we have bought this stock for the purpose of financing Elios building and testing of prototypes unless Elio plans to turn these shares into what I would consider real shares in the company my fear is we have just made a loan to Elio which for the life of me I can;t see how we will ever be able to sell our shares. Owning something you can't sell means its worthless. Would be nice if Elio gave us some sort of explanation of what we can expect for our investment. With any luck I'm just not understanding how this stock deal is supposed to work hopefully Elio will tell us something as the suspense is killing me.

 

[Rob Croson]

These ARE real shares! If you bought stock in the startengine campaign, you own stock in Elio Motors!

The only difference is that these shares cannot, yet, be traded. Elio is planning on getting listed as an over-the-counter company on the OTC:QX exchange in the near future. (Schedule unknown at the moment.)

This is not a loan. You will own party of the company.

 

[Ian442]

Hi there Ellen. I am in for 100 all - in and 50 shares of stock $600.

 

[cantwait]

Shame on me for not understanding how this sale was going to proceed. I assumed when they said the stock would be sold to the public it would be like an IPO. That means Elio would be given a trading symbol and put on an exchange where it could be bought and sold. This seems not to be the case. It seems we have bought this stock for the purpose of financing Elios building and testing of prototypes unless Elio plans to turn these shares into what I would consider real shares in the company my fear is we have just made a loan to Elio which for the life of me I can;t see how we will ever be able to sell our shares. Owning something you can't sell means its worthless. Would be nice if Elio gave us some sort of explanation of what we can expect for our investment. With any luck I'm just not understanding how this stock deal is supposed to work hopefully Elio will tell us something as the suspense is killing me.

There is no need to feel shame for not understanding all the details. The prospectus took more than one quick reading to understand the details. While the Reg A+ offering is "like an IPO", it is not exactly like an IPO. Elio hopes to have a market for the stock later, as per the third paragraph of the offering circular: There is currently no trading market for our common stock. We intend to apply to have our shares of common stock approved for trading on the OTCQX marketplace and expect to trade under the symbol “ELIO” upon the completion of this offering. If I read that correctly, that could mean that "ELIO" shares would be marketable by March 31, 2016.

You are correct about the planned usage of funds. From page 10 of the offering circular: The net proceeds of this offering will be used primarily to fund the effort for the next stage of our development plan, which is to build and analyze 25 prototype test vehicles. The prototype test vehicles will be used in rigorous experiments for safety and performance, among other things. This stage is anticipated to take four to six months.

While I disagree that something is worthless if it can't be sold, used underwear and Zuzu's petals being two easy examples, you are correct about the book value of the stock. From page 8 of the offering circular: Due to our significant accumulated deficit, investors in this offering will suffer immediate and substantial dilution of at least $12.26 per share or approximately 102% of the offering price of the shares if the maximum offering is sold or $12.70 per share or approximately 106% of the offering price if only the minimum offering is sold. Further, if all of the shares offered hereby are sold, investors in this offering will own less than 8% of the then outstanding shares of common stock, but will have paid over 60% of the total consideration for our outstanding shares. See “Dilution.”

While the stock is real, you do not own it until December 31, 2015. At that point, you will either own the stock, and will be issued stock certificates, or your entire investment will be refunded. From the first paragraph of the offering circular: We are offering a minimum of 1,050,000 shares of common stock and a maximum of 2,090,000 shares of common stock on a “best efforts” basis. If $12,600,000 in subscriptions for the shares (the “Minimum Offering”) is not deposited in escrow on or before December 31, 2015 (the “Minimum Offering Period”), all subscriptions will be refunded to subscribers without deduction or interest. Subscribers have no right to a return of their funds during the Minimum Offering Period. If this minimum offering amount has been deposited by December 31, 2015, the offering may continue until the earlier of March 31, 2016 (which date may be extended at our option) or the date when all shares have been sold. We reserve the right to accept subscriptions for up to an additional 418,000 shares, for an additional $5,016,000 in gross proceeds. See “Plan of Distribution” and “Securities Being Offered” for a description of our capital stock.

It actually sounds like you have a decent understanding of what is going on, and could probably clarify most of your questions by reading through the offering circular again. Welcome to the forum.