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Atvm Loan Is Not Completely Dead

Discussion in 'General Elio Discussion' started by Ty, Jul 17, 2019.

  1. Samuel Gompers

    Samuel Gompers Elio Aficionado

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    I didn't miss your post. I disagree with it. There is a lot more to being in business than having a blog and a website. Lots of business close years before the last vestiges fade completely away. Lit Motors would be an example. The website and fb page are still up.

    FWIW, Elio Engineering is still active with the corporation commission, with it's last report filed this year. Elio Motors shows active, but is 9 months late in filing its annual report. It remains my opinion that Elio Motors is just a dead shell, not a business. And if LA looks at the AZ filings, Elio Motors most definitely claims to be in the Manufacturing business.
     
  2. Samuel Gompers

    Samuel Gompers Elio Aficionado

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    Elio Motors Inc is an AZ corporation, and is required to file an annual report. Several years back, AZ removed the requirement to include financials with the annual filing. Elio is 9 months behind. If they miss the October deadline, they will no longer be considered an active corporation in AZ.

    They have also stopped filing their SEC reports, which is why they have been placed in the Pink No Information / Delinquent SEC Reporting status at OTC.

    You are off base in your statement that they are not required to file annual reports. Perhaps Elio should seek their advice elsewhere, as yours is putting them in a delinquent status.
     
  3. RSchneider

    RSchneider Elio Addict

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    You do realize that Elio Motors filed as a Delaware Corporation back in May of 2017. Thus makes no sense to refile with the State of AZ. Plus there is no requirement for financials when it comes to refiling for a corporation in AZ. I even asked a friend of mine who has had a business in AZ since the 70's and he has never had to provide financials. The annual report for AZ is just three pages and it's pretty simple where it looks like it would take 15 minutes to fill out (faster today as it's all automated and done online). The only financials the state cares about are the fee you pay (probably less than $100) each year and your state income tax filing (which is not the department of corporations).

    As for the SEC that's a whole different ballgame. For Elio Motors everyone knows they are late and thus it shows up on the stock listing. Even at that, the SEC filing is easy to do because they already have the template from last year. All they need to do is update the financials and that would be pretty easy with just a call to their accountant (the current activity with Elio motors would be easier to report as opposed to a Mom and Pop Pizza Parlor). If it would cost more than $1K to get this done, I'd be shocked. I know why they didn't file. It's because the financials will look worse and the stock would have tanked overnight. Doing it this way, it's a controlled bleed all in hopes the investment comes in and thus they will crank out a new one in a day.

    If you really want to get technical, Elio Motors was born on November 2, 2008. That only lasted for a year and then they refiled as their own corporation where the DBA ESG Engineering was dropped and it went from a LLC to an INC.
     
  4. Watashiwah

    Watashiwah Elio Addict

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    “If you really want to get technical, Elio Motors was born on November 2, 2008. That only lasted for a year and then they refiled as their own corporation where the DBA ESG Engineering was dropped and it went from a LLC to an INC.”

    Haha! Thanks for this!! I have always suspected that ESG Engineering (that’s Hari and Paul) were more the ‘drivers’ than Elio Motors per se. This may appear a minor nuance to most, but I have always believed that the ‘end game’ was to fill ESG Engineeing’s coffers and less about Elio Motors building a vehicle.
     
  5. Samalross

    Samalross Elio Addict

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    I agree with you 100 percent
     
  6. RSchneider

    RSchneider Elio Addict

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    Here's what I found for Arizona when it came to Paul and Hari. Some are inactive others are not:
    ESG - Accuride, LLC (This is a Delaware Corporation)
    ESG Consumer Products, INC
    ESG - JMARC, LLC
    Elio Engineering, INC
    Elio Motors Credit Corporation
    Elio Motors, INC
    Elio Motors, LLC
     
  7. Made in USA

    Made in USA Elio Addict

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    Looking at the various companies that Paul Elio is involved in, makes you wonder how he is 100% committed to getting the Elio three wheeler into production. If the speculations are correct, and he showed the Elio to Ohios governor to help his buddy with a different deal, then Paul Elio is not fully committed. Was Elio Motors intended to be started up and then sold as quickly as possible leaving the other companies? Is it some kind of shell game? If Elio did get the ATVM loan, how much would be paid to his other companies? Guess we will just have to "read the blog" to find out.
     
  8. RSchneider

    RSchneider Elio Addict

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    We need to have a contest as to who can pick closest to the date of the next archived blog. For example, I'll just pick June 21, 2017 "No Paint No Gain" for this coming Friday.
     

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