1. Welcome to Elio Owners! Join today, registration is easy!

    You can register using your Google, Facebook, or Twitter account, just click here.
  2. Hate the new look? Click Here to learn how to go back to the old one!

Bring On 2017!

Discussion in 'In The News' started by Grumpy Cat, Jan 6, 2017.

  1. booboo

    booboo Elio Addict

    Messages:
    1,368
    Likes Received:
    1,899
    Joined:
    Jun 9, 2016
    Location:
    Jelly Stone Park, CA
    Reservation #:
    17829 All In 4/3/16 Committed 8/12/16
  2. skychief

    skychief Elio Addict

    Messages:
    114
    Likes Received:
    143
    Joined:
    Jul 23, 2016
    Location:
    South Bay, L.A.
    Reservation #:
    100072425
    EM's viability all hinges on the ATVM loan. It might be another year until they get it. It might be two. Or they might not ever get it. But until they get it, all EM can do is present a positive attitude and send warm and fuzzy group-mails periodically.

    Elio made the mistake of putting all his eggs in one basket, with no contingency plan for funding the venture should the Loan not come through. Not an optimal business plan, imo.
     
  3. Ty

    Ty Elio Addict

    Messages:
    5,582
    Likes Received:
    14,002
    Joined:
    Feb 28, 2014
    Location:
    Papillion, NE
    Reservation #:
    3898
    I remember one such "quote" saying something like 'Founder Paul Elio says that Elio Motors will fold unless funds are found soon.' That was never said but the financial statement which requires such dire statements as 'Elio Motors, as with other start-up businesses can fail should suitable funding or revenue stream not be found' or something of the like.

    Basically, there are some news outfits that are picking phrases from the company's SEC filings and claiming they are quotes from Paul when they are really just legally required statements.
     
    3wheelin likes this.
  4. Ty

    Ty Elio Addict

    Messages:
    5,582
    Likes Received:
    14,002
    Joined:
    Feb 28, 2014
    Location:
    Papillion, NE
    Reservation #:
    3898
    The above is an example of propagating misinformation. Where do you get that "EM's viability all hinges on the ATVM loan"? That has never been said. In fact, Paul came out and said he is not relying on the ATVM loan. The same can be said about "putting all his eggs in one basket, with no contingency plan for funding..." That is just outright speculation. No, that's just outright incorrect, according to Paul who has said "We have several paths to funding." That doesn't sound like the lack of a plan.

    One question: If you owned a company, would you wait as long as possible for a loan that basically lets you keep ALL of your company or would you jump at the first offer of money even if it meant giving away a huge chunk of your potential earnings?

    Paul would be an idiot to take money in exchange for part of the company at this time. Shoot, he should wait until he can no longer hold out. If there is even a chance the ATVM loan will come through, he should wait. It would be financially dumb to do otherwise.

    I, of course, want my Elio now and I don't really care who owns the company. Sure, I think Paul should be rewarded for all the hard work and effort he has put out but in the end, it really doesn't matter.

    I'm pulling for you, Paul. Hang on as long as you can. I sure won't blame you.
     
  5. skychief

    skychief Elio Addict

    Messages:
    114
    Likes Received:
    143
    Joined:
    Jul 23, 2016
    Location:
    South Bay, L.A.
    Reservation #:
    100072425
    From Elio Motors: (i added the bold)

    "If we are unable to continue to obtain financing to meet our working capital requirements, we may have to curtail our business sharply or cease operations altogether. Our continuation as a going concern is dependent upon our ability to generate sufficient cash flow to meet our obligations on a timely basis to retain our current financing, to obtain additional financing, and, ultimately, to attain profitability. Should any of these events not occur, we will be adversely affected and we may have to cease operations."

    I looked for some other proposed funding but couldn't find any.

    Could you quickly outline some other "paths to funding" that are being considered?

    Thanks! :D
     
  6. aahz

    aahz Elio Addict

    Messages:
    300
    Likes Received:
    509
    Joined:
    May 7, 2016
    Location:
    Kingman Az
    Let me ask a question here. Does it make more sense to let everyone know what underwear your wearing or to just let it be assumed you are wearing them? I rarely go into anything without first looking at possible alternatives. I don't believe Paul has done different. He has stated there are alternative venues for capitol, that's the easy answer. The ATVM loan is just the most ideal one.
     
  7. Coss

    Coss Moderator Staff Member Moderator

    Messages:
    8,785
    Likes Received:
    13,807
    Joined:
    Sep 5, 2014
    Location:
    Battle Ground WA
    Let me toss in another little bit of information, does anyone know who actually writes the SEC statement?
    If you answer Paul, you'd be incorrect, Paul does not write it, it's written by the lawyers.
    So saying the "Paul said on the SEC filing ......" is not a valid statement.
     
    Maurtis likes this.
  8. Jerry Hudis

    Jerry Hudis Elio Fan

    Messages:
    7
    Likes Received:
    13
    Joined:
    Sep 12, 2016
    Location:
    Mesa, az
    Reservation #:
    20465
    Why cant anyone tell us the truth about what is happening about production models and start dates?
    Im all in on an non recoverable one grand. Hope to see something soon.
     
  9. WilliamH

    WilliamH Elio Addict

    Messages:
    2,191
    Likes Received:
    4,830
    Joined:
    Jan 27, 2015
    Location:
    Junction, TX
    Dr. Ernest Moniz - Secretary of Energy is out on Jan 20, 2017.
    Maybe then the DOE will stop changing the ATVM loan requirements every time Elio meets the current set..
     
    wizard of ahs and aahz like this.
  10. Ty

    Ty Elio Addict

    Messages:
    5,582
    Likes Received:
    14,002
    Joined:
    Feb 28, 2014
    Location:
    Papillion, NE
    Reservation #:
    3898
    https://www.eliomotors.com/tech-talk-v52-update-on-funding/

    This has been going for quite a long time. Paul never put all his hopes in the ATVM loan though he'd much rather use it than private funding. (my opinion - and it just so happens to make sense)
     
    3wheelin, W. WIllie, aahz and 2 others like this.

Share This Page