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Discussion in 'Elio Stock Discussion' started by John Painter, Mar 4, 2016.
Thank you for the heads up! I did not buy into medx!!!!!!!!!!!
That article is pretty critical of StartEngine, and their part in the Med-X offering. He is also very critical of Elio Motors' crowdfunding venture as well:
"One thing is clear; the standard for the SEC would be to plead that StartEngine “knew, should have known or was reckless in not knowing” that Med-X did not file its annual report in a timely manner. I do not see that StartEngine has a cognizable defense.
StartEngine did list another offering, Elio Motors which I also questioned in another blog post. My issue with Elio was that it was taking deposits from and promising delivery to consumers for a product that did not exist and which it could not hope to deliver with the funds it had on hand or which it was likely to raise. I am pretty certain that taking deposits and promising delivery of a product that does not exist and is not very likely to exist violates some regulation under the Federal Trade Commission Act or a similar statute.
The Crowdfunding industry has hailed Elio as a success because it raised $17 million from investors. The people who helped raise the funds speak at various industry conferences to an audience of Crowdfunding participants who want to know how it is done. (Spoiler alert: In Elio’s case it was done by making promises that they were not likely to keep but that is not what you will hear at the conferences.)"
You really aren't familiar with start-ups? Or are you just being Negative for more nefarious reasons? Start-ups are HIGH RISK. Therefore, everything they offer is HIGH RISK. It's not like they have GUARANTEED delivery. In fact, they've gone out of their way to remind customers that their reservations are not a guarantee and also limit exposure to $1,000 per vehicle. And they really are working on a vehicle unlike some companies who work only on intangibles.
So I read the linked article.
And down at the bottom we find that Mr. Stein is a lawyer who is all butt hurt that he doesn't get invited to crowd funding events to spread his negative attitude.
He used to make hiss living by giving investment advice.
And where did he get the idea that Elio "promised" anything.
He doesn't sound like he is very well informed.
Mrh? Are you addressing me with this comment? I just quoted the Elio-relevant passages from the linked article.
You're right. I should be addressing the article you linked. But what is the reason you chose an article by a rogue uninformed" reporter"?
LillyMay linked the article in the paragraph above. I thought it interesting to quote the part of the article that involved Elio. Just because I may not agree with him doesn't mean we shouldn't be aware of the information and viewpoint that it presents.
Very good point. The cynics (and I sometimes fall into that category myself) have got me overly sensitive.
Contacted Merrill Lynch this morning. Or should I say Merrill Edge.
This is what I was told when I opened an account.
Free account. Everything can be done online with electronic transfer and they handle OTC stock.
The consultant was pretty sure that there would be no charge or commission for the first thirty transactions.
All transactions after that are (I think this is right) $6.90 no matter the amount.
And I'm thinking, yeah, the easy button.