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Elio Belly Up. Fake News Or Not?
- Thread starter Craig
- Start date
Ty
Elio Addict
Fake.
Grumpy Cat
Elio Addict
They've been against Elio since its inception.
Had me going, till I look on here.
slinches
Elio Addict
I think he's making up for accidentally saying something that could have been interpreted as positive in his review of the E1c at the LA Auto Show.
Darren Cruse
Elio Fan
Read the article and I confess it did have me pretty bummed (well I admit I've already been wondering what's going to happen to Elio with Trump as prez).
And then it did occur to me - why am I on a site that's supposed to be about green vehicle technology and this article has *nothing* but negativity about Elio? I mean the info about how the CAFE credits were important to Elio's business model was news to me and I appreciated that. But where was the balance to talk about the good side of Elio and what they were/are trying to do?
Finally I came here and learned the writer Joe Borras is known for slamming Elio... (search for "Joe Borras" above there's multiple threads).
FWIW here's my comment I put on the article:
And then it did occur to me - why am I on a site that's supposed to be about green vehicle technology and this article has *nothing* but negativity about Elio? I mean the info about how the CAFE credits were important to Elio's business model was news to me and I appreciated that. But where was the balance to talk about the good side of Elio and what they were/are trying to do?
Finally I came here and learned the writer Joe Borras is known for slamming Elio... (search for "Joe Borras" above there's multiple threads).
FWIW here's my comment I put on the article:
re: "let us know what you think the company’s odds of survival in the new reality of a Trump presidency might be..."
This article did have me thinking it was time I sold my 100 shares of Elio stock...
But of course Elio was always a long shot I'm no car expert but I knew that going in. Most all attempts at new car companies have failed. Heck even with all the model S's around I'm taken aback when I read comments that there's still a real chance Tesla could go under.
So regarding Trump and the conservative mindset on these things I'm worried the article is right and the odds are lower than ever.
The appeal for me of Elio or Tesla is really a gut level appeal - I admire innovators, visionaries, entrepreneurs *trying* to achieve something new and different. Climate change aside, I still would be *hoping* for this project to succeed out of admiration for the engineering and innovative thinking behind the project.
My fear is that appeal (of science and engineering) is not in the mind of Trump or the people's he's appointing so they won't be motivated for the same reasons I would to try and help Elio.
Esp. conservatives believe in the free market right, but (last I heard) Elio was depending on getting an ATVM loan to be able to ramp up production and fill the 62000+ orders they've gotten for the car (autocycle).
If under Trump the ATVM load goes out the window, and these CAFE credits go away it does sound bad.
But trying not to be so negative (and after all this is a "green" web site right):
Elio has said from the beginning they are making this car in america with the intent of putting people to work at the former Shreveport Louisiana GM plant.
I *heck* of a lot more people than Trump's Carrier deal!!
And certainly the Carrier deal publicity proves Trump is eager to *appear* to be helping to create american jobs and put americans to work.
This is certainly in Elio's favor.
The other thing I'll say is I kept thinking the fact the Elio isn't an electric car would be a big negative amongst the types of people who are drawn to being "green" who are drawn to the Teslas and Leafs and Chevy Volt etc.
But maybe that's now less of a negative with Trump and his people not even believing in climate change. Clearly they want to be "contrarian" regarding that kind of talk - maybe they'll *like* the idea of saying "see the Elio shows you can get amazing gas mileage with good old internal combustion!!"
So that's another reason that *maybe* (I doubt it but maybe?) things could still work out for Elio somehow under the Trump administration.
I don't think it's likely but I do think it's possible. Mainly because of the jobs.
booboo
Elio Addict
I was going to link this article yesterday, but it was so negative I decided to let another make that decision. Thank You Craig.
I agree with the idea that bringing something like the Elio to fruition these days is nearly impossible. Let's hope that it is only nearly, and not impossible.
Really all it would take if the ATVM falls through, is one deep pocketed individual, not looking for immediate returns, to get it done.
The Elio is needed in this country, and should be made.
"Greedy Bastard$"
I agree with the idea that bringing something like the Elio to fruition these days is nearly impossible. Let's hope that it is only nearly, and not impossible.
Really all it would take if the ATVM falls through, is one deep pocketed individual, not looking for immediate returns, to get it done.
The Elio is needed in this country, and should be made.
"Greedy Bastard$"
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Some one else showed me an article like that. Go back through the history in this forum and you'll see the same type of story coming out a couple of times a year; and usually it all goes back to 1 or 2 so called "reporters" that are just another type of hater.
Elio Amazed
Elio Addict
- Joined
- Jun 30, 2014
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Excuse me...
I hate to bust the party, but have any of you read the latest SEC filing?
Though I find it's title offensive, there are no "fake" quotes in that article.
All of that is taken directly from the filing.
In addition to all that, this is from page 11...
"Liquidity and Capital Resources
The accompanying financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the
satisfaction of liabilities in the normal course of business. From inception, the Company has financed its business activities through customer
deposits, debt issuance and contributions from stockholders. The Company expects to obtain funding through additional debt and equity
placement offerings until it consistently achieves positive cash flow from operations after starting production. Management expects that cash on
hand combined with anticipated funding sources will provide the Company with adequate funding through December 31, 2016. There are no
assurances that the Company will be able to raise adequate funds, achieve, or sustain profitability or positive cash flows from its operations.
Through September 30, 2016, the Company has not recorded any revenues for the sale of its vehicle product nor does it expect to record
revenues of any significant amount of product prior to commercialization of its vehicle. Once the Company’s planned principal operations
commence, its focus will be on the manufacturing and marketing of its vehicles and the continued research and development of new products.
The Company may not be profitable even if it succeeds in commercializing its product. The Company expects to make substantial expenditures
and to incur additional operating losses for at least the next several years as it continues to develop the vehicle, increase manufacturing capacity
for production, and enter into production and marketing collaborations with other companies, if available on commercially reasonable terms, or
develop these capabilities internally. The financial statements do not include any adjustments that might result from the outcome of this
uncertainty and whether the Company can continue as a going concern past 2016."
Of course, we can spin that any way we want. Here's the link to all of Elio's SEC filings...
http://www.otcmarkets.com/stock/ELIO/filings
I hate to bust the party, but have any of you read the latest SEC filing?
Though I find it's title offensive, there are no "fake" quotes in that article.
All of that is taken directly from the filing.
In addition to all that, this is from page 11...
"Liquidity and Capital Resources
The accompanying financial statements have been prepared on a going-concern basis, which contemplates the realization of assets and the
satisfaction of liabilities in the normal course of business. From inception, the Company has financed its business activities through customer
deposits, debt issuance and contributions from stockholders. The Company expects to obtain funding through additional debt and equity
placement offerings until it consistently achieves positive cash flow from operations after starting production. Management expects that cash on
hand combined with anticipated funding sources will provide the Company with adequate funding through December 31, 2016. There are no
assurances that the Company will be able to raise adequate funds, achieve, or sustain profitability or positive cash flows from its operations.
Through September 30, 2016, the Company has not recorded any revenues for the sale of its vehicle product nor does it expect to record
revenues of any significant amount of product prior to commercialization of its vehicle. Once the Company’s planned principal operations
commence, its focus will be on the manufacturing and marketing of its vehicles and the continued research and development of new products.
The Company may not be profitable even if it succeeds in commercializing its product. The Company expects to make substantial expenditures
and to incur additional operating losses for at least the next several years as it continues to develop the vehicle, increase manufacturing capacity
for production, and enter into production and marketing collaborations with other companies, if available on commercially reasonable terms, or
develop these capabilities internally. The financial statements do not include any adjustments that might result from the outcome of this
uncertainty and whether the Company can continue as a going concern past 2016."
Of course, we can spin that any way we want. Here's the link to all of Elio's SEC filings...
http://www.otcmarkets.com/stock/ELIO/filings
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I don't think one can or should ignore the high lighted statements in the Gas2 article. Not fake, but rather EM's own statements copied from their SEC filings. Anybody considering a non-refundable all-in reservation deposit may want to think seriously about going refundable.
The political speculation that the Elio and other alternative energy vehicle programs being Trumped is pure speculation that will be validated in January 2017. The appointments look as though big oil and the NADA may be back in the driver's seat and may not support the need for stinkin affordable high mpg vehicles. It does't appear promising, but again speculation.
This wasn't a hater article. Nobody hates the high mpg Elio concept and or idea of an Autocycle concept with a planned direct to consumer sales model with the exception of big oil and NADA.
The political speculation that the Elio and other alternative energy vehicle programs being Trumped is pure speculation that will be validated in January 2017. The appointments look as though big oil and the NADA may be back in the driver's seat and may not support the need for stinkin affordable high mpg vehicles. It does't appear promising, but again speculation.
This wasn't a hater article. Nobody hates the high mpg Elio concept and or idea of an Autocycle concept with a planned direct to consumer sales model with the exception of big oil and NADA.