Atvm Loan Requirement Changes

[voyager]

Thx, EA.
I appreciate this. Found this in the last SEC filing: average deposit received per reservation of $427. Let's round that off to $24 million in deposits then, if I multiply this with the approx. 58,000 people who made a deposit.

"In total, Elio has raised $96 million including capital from Stuart Lichter and ESG Engineering, funds through crowdfunding, and deposits from potential customers."

We know that $25 million came in through crowdfunding. That means that $47 million was coughed up by private investors.

I take it then that only an accountants report or so will bring light to what comes in and goes out.

This looks more extensive:
http://printarchive.epochtimes.com/a1/en/us/bos/2016/06-Jun/09/BOSEET20160609A03.pdf

All SEC filings:
http://ir.eliomotors.com/all-sec-filings#

 

[voyager]

47 million of which 17 million came from the IPO.

 

[Rob Croson]

We know that $25 million came in through crowdfunding. That means that $47 million was coughed up by private investors.

Per Regulation A+, the crowdfunding effort had a declared maximum stock sale of $25M. When all was said and done, the really only sold $16.9M in stock.

I don't know how much private placement money was raised.

 

[voyager]

Per Regulation A+, the crowdfunding effort had a declared maximum stock sale of $25M. When all was said and done, the really only sold $16.9M in stock.
I don't know how much private placement money was raised.

Do you mean that I counted double? 25 million through crowdfunding turned out to be 17 million, as EpochTimes wrote down? That would imply that some major investors laid down the bulk of the money. 96 - 24 - 17 = 55 million...

EpochTimes also wrote down:
"The company wants to start production in 2017. In order to do that, it needs to raise an additional $300 million in capital. Elio is hoping to raise capital through a combination of outside investment and a government loan called the Advanced Technology Vehicles Manufacturing (ATVM) loan. “I am very excited about ATVM. I think we are a natural fit. But we do not totally rely on the government loan. We always maintain a completely private solution to our funding,” said Elio

 

[Ty]

Do you mean that I counted double? 25 million through crowdfunding turned out to be 17 million, as EpochTimes wrote down? That would imply that some major investors laid down the bulk of the money. 96 - 24 - 17 = 55 million...

EpochTimes also wrote down:
"The company wants to start production in 2017. In order to do that, it needs to raise an additional $300 million in capital. Elio is hoping to raise capital through a combination of outside investment and a government loan called the Advanced Technology Vehicles Manufacturing (ATVM) loan. “I am very excited about ATVM. I think we are a natural fit. But we do not totally rely on the government loan. We always maintain a completely private solution to our funding,” said Elio

From all the stuff I've read, and I think I've read almost all of it available, I think Paul means that he could easily have the production money right now if he didn't mind giving away a big portion of the company but he'd rather get a government loan guaranty and retain that portion. Well, that's great for Paul but not so great for impatient reservationists. I'm okay with Paul waiting on the ATMV loan but only for so long. Eventually, everyone needs to either sh!t or get off the pot.

 

[Rob Croson]

Do you mean that I counted double? 25 million through crowdfunding turned out to be 17 million, as EpochTimes wrote down? That would imply that some major investors laid down the bulk of the money. 96 - 24 - 17 = 55 million...

EM originally filed for a crowdfunded stock sale of $25M. They did not sell the full amount. In the end, people only bought $17M. This is the quote from the linked PDF about it:

"Out of the total amount raised, $17 million came through a Regulation A+ stock offering on the StartEngine crowdfunding platform in February 2016."

 

[voyager]

That means that some private stakeholders laid down 55 million...

 

[Rickb]

From all the stuff I've read, and I think I've read almost all of it available, I think Paul means that he could easily have the production money right now if he didn't mind giving away a big portion of the company but he'd rather get a government loan guaranty and retain that portion. Well, that's great for Paul but not so great for impatient reservationists. I'm okay with Paul waiting on the ATMV loan but only for so long. Eventually, everyone needs to either sh!t or get off the pot.

I wish he would easily have done that 2 years ago! I would be driving my Elio to coffee break right now. Is that an example of corporate greed?

 

[Karnaj]

I wish he would easily have done that 2 years ago! I would be driving my Elio to coffee break right now. Is that an example of corporate greed?

Is that a corporate coffee break?... Oh you meant him...

 

[RMClubfitter]

Haven't been around a lot in last year. Does anyone know how the sale of equipment left at Shreveport plant not needed by Elio went. Haven't seen that mentioned in this thread or any articles referenced in this thread or where (if any) that money fits in here. Last I saw was a lot of equipment listed for sale on Ebay (I think). Forgive me for not keeping up.