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Elio’s $4,484,755.50 Catch-up Payment

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RSchneider

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Interestingly enough, ESG Engineering's website esgeng.com is no longer registered but it was still up as recently as last December, according to the Internet Archive:

https://web.archive.org/web/20181205071936/http://esgeng.com/

And you can see PE still listed as the CEO, but who knows if anyone has been maintaining that page. The design is pretty much 20 years old: https://web.archive.org/web/20180825185422/http://esgeng.com/About/about.html

Elio Engineering is still in business. March 19th will be their 20th anniversary.
https://ecorp.azcc.gov/BusinessSearch/BusinessInfo?entityNumber=08677356

Elio motors will celebrate their 10th anniversary on October 26th:
https://ecorp.azcc.gov/BusinessSearch/BusinessInfo?entityNumber=15610344
 

Sega

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Sounds like this may have been a funneling system just to get money to another business of his....Good idea. Trick people into giving you money for a business, then invest it in another business....

I mean, he pushed for this big plant which got peoples' hopes up. What is a plant without a product, machinery, workforce, etc? Nothing. It looks as if things are going well, but that appears to be just a front for showing "progress".
 

3wheelin

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I’ve always questioned the financial affair’s of Elio Motors.

Just so much money being redirected outside of R&D.

Paul and the Board of Directors are paid large salaries, bleeding Elio Motors of much needed cash.

The Elio vehicle kept being re-design constantly, yet there was never a finalized product.

So many people blindly supported Paul. The allure of a $7,500 vehicle that had a 84 MPG was just so darn enticing.

Paul promised production in 2014, 2015, 2016, 2017, 2018, 2019, etc.

A failed NASDAQ funding, now ElioCoin is Paul’s salvation.

A Reg A+ stock offering that has resulted in thousands of investors losing millions of dollars.

Paul disappearing for extended periods, all under the guise of some non-existent SEC mandate.

A complete lack of credibility and transparency, yet people still believe in the Elio story, even with the reality of $100 million of unpaid debt.

The bottom line is, $7,500 and 84 MPG are such strong aphrodisiacs!

Hope always springs eternal.
We really don't know what went on in the what...10 years? (correct me if I'm wrong) that EM's been around, and it's very possible it'll never come to light but one thing is sure....they're paying for it big time! It was a go big or go broke from the beginning but in the end not a single ELIO was delivered! :(
 

TexasTesla

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We really don't know what went on in the what...10 years? (correct me if I'm wrong) that EM's been around, and it's very possible it'll never come to light but one thing is sure....they're paying for it big time! It was a go big or go broke from the beginning but in the end not a single ELIO was delivered! :(

I think you’re right!

I think Elio Motors will just fade away without any big public announcement.

Paul will never explain any facts other than Elio Motors was never able to secure adequate funding.

Elio stock will quit trading, and be completely delisted on a moments notice. It could slip from the current price to zero overnight.

It really doesn’t matter when and if Elio Motors takes formal bankruptcy.

In theory, Elio Motors is already insolvent.

The question will be, did Paul purposely, and improperly misappropriate any of Elio Motors money.

And, did the Board of Directors meet their fiduciary duty to the Elio stockholders.

Obviously...there are more questions than answers!
 
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dbacksfan81

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Elio Engineering is still in business. March 19th will be their 20th anniversary.
https://ecorp.azcc.gov/BusinessSearch/BusinessInfo?entityNumber=08677356

Elio motors will celebrate their 10th anniversary on October 26th:
https://ecorp.azcc.gov/BusinessSearch/BusinessInfo?entityNumber=15610344

The address on those documents is Paul's house in central Phoenix. This link is the location where they had rented space from Triumph Engineering that owns the building and has been in this location for many years.

http://www.triumphcorp.com/

https://goo.gl/maps/4Ke3gwCT9t32
 

TexasTesla

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Rickb

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We really don't know what went on in the what...10 years? (correct me if I'm wrong) that EM's been around, and it's very possible it'll never come to light but one thing is sure....they're paying for it big time! It was a go big or go broke from the beginning but in the end not a single ELIO was delivered! :(
Paul Elio and his BOD did and are doing O.K. financially speaking. So if you are Paul Elio & EM BOD fans, it’s good news to know their personal financial gains are protected. (A decade of salaries & benefits, bonuses, stock options, engineering contracts, etc.)

No Elio Motors, but loads of Elio Marketing, scheduled tour events, and test sit opportunities. It could still happen if the right people get behind the concept. However, early lock-in reservationist perks may not apply and the MSRP may bump to a more realistic $15K base price, but perhaps better than no Elio at all? Also, the option of an Elio EV, but most current reservationists are not big fans of EVs given the added cost, less range, and quick/quiet ride.

It’s not over til it’s over as we eagerly wait for Breaking News!
 

Elio Amazed

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This is not financial mismanagement at all. Stu is on the board and he is part of Racer Trust, CH Capital and SBP. So he can just keep putting off the payments as long as he wants. He is the one we all should be praising because he's keeping Elio in business. If it wasn't for him, they would have closed the doors at the end of 2016.

Stu didn't get rich by accident. He's a shrewd businessman. In the end, he wins no matter what happens to Elio.

Elio goes bankrupt, he gets paid first and get's back the building and equipment. Sell the equipment for ten cents on the dollar and then bulldoze the building down. After that, build a new warehouse and turn it into a distribution center.

Elio gets a big investor via Eliocoin, Stu and his companies get paid up and then keep drawing lease and loan payments. If Elio can't get to 1500 workers, then he gets even more monthly payments. In addition to that, his stock that he has skyrockets and he sells part of it to even make more money.

We should give Stu a big high five for him keeping the dream going.

Time for some research. The Parish still owns the building and grounds.
For accuracy, Stu's business is leasing for 20 years.
That's a huge point of difference.

And no, Stu is not part of RACER trust. He's simply an advisor.
Stu has basically backed (guaranteed) the $21M EM loan for the equipment.
If Elio defaults on the equipment (which is mostly gone) Stu gets stuck with the bill.

The $21M EM owes plus the above quoted $15M accumulated additional costs for the equipment loan...
Is the only outstanding business remaining with RACER trust that relates to the Shreveport facility
 
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Rickb

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I’ve been following EM since 2008’s Hello Elio marketing Campaign and I don’t think it’s a scam..........since there was nothing promised. The only disappointing red flag for me was marketing incentives to encourage non-refundable deposits. R&D should be privately funded up to the Beta test drive vehicle stage, with simple no-risk refundable deposits that show venture capital investors serious interest in the vehicle to move forward with production funding. IMO If reservationists lose non-refundable deposit money or take delivery of their Elio, it was their personal choice because they believed Paul Elio, nothing to be ashamed about. Perhaps some regret, but not scammed.
 
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