Dec 31 2015..last Day To Raise $25 Million?

[Nathan]

Hey everyone, new to the forum but long time Elio fan. I did a $1,000 all-in over a year ago and my production number/spot in line is around 11,000. I've been following the DOE ATVM Loan progress (the loan from department of energy that Elio has passed the first phase of) and the $25 million crowdfunding through startengine. It appears the crowdfunding effort is to help show department of energy that Elio has the ability to raise money without their loan (one of the requirements). If $25 million isn't submitted by the end of day today, all monies sent in under the startengine program will be returned completely. And that likely means they wouldn't get the department of energy loan as well. I did the math and roughly 41,000 people would need to buy the minimum 50 shares ($600) to meet the goal. I can't find any updates on how close they are..anyone know? It seems this is another make-or-break point for the company.

 

[Travelbuzz1]

I just recieved this today...,

Congratulations, your investment is now official! We are sorry for the announcement delay, but because of the high volume of investments, the holidays and the federal clearing process, we are processing daily to get subscription agreements out as soon as possible. This notification means that your order is complete and your signed subscription agreement is attached.

This email is your investment confirmation. These shares will be issued and reflected on the books and records of our stock transfer agent, VStock Transfer, LLC. There will not be a paper confirmation or stock certificate mailed to you. You will need to coordinate with your stock broker to arrange for these shares to be transferred to your brokerage account electronically once eligible.

Company: Elio Motors Inc.
Offering: Elio Motors
Securities Type: Equity

 

[Bert]

First, Welcome!

As I recall, they needed the 12.5 million before this day is over, or to return all the investments. Rumor has it they're passed this benchmark!

 

[ClubJoe]

Well I got my congratulations notice and agreement. Big day!

ClubJoe
Sunny Brandon, FL

 

[LillyMayPatterson #1685 & #5648]

Yes, I receive this email too, included the agreement I signed November 20th. With out an update we don't know if they got the 12 million or the 25 million. Said ", we are processing daily to get subscription agreements out as soon as possible." Till we get that we don't know Jack.

 

[Nathan]

That's encouraging!

 

[Trusting]

Great! Something else to worry about just in time for new years. I think tonight might be the first time I'll get drunk....

 

[John Painter]

Hey everyone, new to the forum but long time Elio fan. I did a $1,000 all-in over a year ago and my production number/spot in line is around 11,000. I've been following the DOE ATVM Loan progress (the loan from department of energy that Elio has passed the first phase of) and the $25 million crowdfunding through startengine. It appears the crowdfunding effort is to help show department of energy that Elio has the ability to raise money without their loan (one of the requirements). If $25 million isn't submitted by the end of day today, all monies sent in under the startengine program will be returned completely. And that likely means they wouldn't get the department of energy loan as well. I did the math and roughly 41,000 people would need to buy the minimum 50 shares ($600) to meet the goal. I can't find any updates on how close they are..anyone know? It seems this is another make-or-break point for the company.

Elio Motors is actually in the second stage of three stages for the DoE's ATVM loan. Elio Motors suggested in their recent SEC filing that DoE may need to see EM has some ongoing capital raising ability (their loan is indeed a loan) to demonstrate ability to repay. Under Reg A+ Elio needs to basically raise half of its full offering or it would need to return funds raised to investors. While we do not actually know what Elio has raised from the current offering, and may not for some time, it's implied they surpassed the minimum needed when they informed us they were progressing with building the 25 engineering vehicles. I think, with guarded optimism, Elio Motors would not waste time sending out Subscription Agreements this week if things were not going "ok".

 

[Okie51]

Elio Motors is actually in the second stage of three stages for the DoE's ATVM loan. Elio Motors suggested in their recent SEC filing that DoE may need to see EM has some ongoing capital raising ability (their loan is indeed a loan) to demonstrate ability to repay. Under Reg A+ Elio needs to basically raise half of its full offering or it would need to return funds raised to investors. While we do not actually know what Elio has raised from the current offering, and may not for some time, it's implied they surpassed the minimum needed when they informed us they were progressing with building the 25 engineering vehicles. I think, with guarded optimism, Elio Motors would not waste time sending out Subscription Agreements this week if things were not going "ok".

John, I like your attitude! I enjoy reading your comments here and on Facebook.

 

[John Painter]

John, I like your attitude! I enjoy reading your comments here and on Facebook.

Likewise!