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Elio Belly Up. Fake News Or Not?

Coss

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After reading this thread, there is one line that stands out over all the others:

SEC Filings are designed to protect the company against litigation for false claims and advertising. They ARE NOT statement of a probable future.

Thank you EKH for the clarity; it says volumes.
 

3wheelin

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I find it very interesting that, if you do the math on the big picture, it appears that there's been almost NO private placement.
As far as 83.6mpg... Someone please give me a link to official test results and documentation.
Otherwise, as one poster said, it may be necessary to sue me for slander.

"To date, $59 million has been invested in vehicle prototypes, engineering and development, and soft tooling."
"Our accumulated deficit was $123,212,431 as of September 30, 2016."
So... Basically, in excess of $64M was spent on... what?

"As of September 30, 2016, we had cash of $101,317 and a working capital deficit of $25,769,911..."

I don't know how to paint those statements in grand colors that change their basic meanings.
So taking them at face value pretty much sums it up for me.

I'll now leave the thread to more forward thinking individuals.
And simply hope that EM can indeed pull a miracle out of their collective butt.
LOL!. There's no quitting here Elio Amazed! You've always been very eloquent and level headed with your posts so stay! Nothing wrong with waiting at this point!
 

3wheelin

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Elio has not raised any money from operations. That means Elio hasn't built or sold any cars. That is true, but easily misconstrued. They go on to say they raise money from loans and investors, and expect to go on doing so. Tesla did precisely the same thing!

These statements are cautionary -- and IMO Elio has not been careful enough in their phrasing so as to avoid giving uber-trolls like Joe Borass a convenient weapon. However, they do not indicate a need for panic on our part. All this statement actually says is, "we haven't made any money from building cars, and we won't until we have procured sufficient financing from lenders and investors. We expect to continue to accrue losses until we commercialize our vehicles, and it is possible we won't make any money then, either."

That's all true. They are burning money, and it is POSSIBLE they won't make any money once they launch operations. But everyone on tis forum knows that the math of the Elio is such that the vehicle will be immensely profitable, and 62,820 reservations (as of this writing) demonstrate that demand is real.

SEC Filings are designed to protect the company against litigation for false claims and advertising. They ARE NOT statement of a probable future.

Do not panic over this crap. And Borass, as I have said before, has no personal integrity -- as I know from personal experience with him. Unfortunately, others may believe his piece, but he is a burp, not even a belch, in the long process of pulling this project to completion.
Ehk, as always you're easy to agree on! You're no fun! :D
 

3wheelin

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Well, it is pretty easy to see Elio isn't selling vehicles yet and the reservation line only brings in so much that Elio can use. So, of course they are running in the red. This isn't uncommon nor serious cause for concern. (See also Tesla)

As to the mileage numbers:
How Vehicles Are Tested
Fuel economy is measured under controlled conditions in a laboratory using a series of tests specified by federal law. Manufacturers test their own vehicles—usually pre-production prototypes—and report the results to EPA. EPA reviews the results and confirms about 15%–20% of them through their own tests at the National Vehicles and Fuel Emissions Laboratory.


For other light reading: http://www.ecfr.gov/cgi-bin/text-idx?SID=f4998116259c3d616115baa40e23648a&mc=true&node=pt40.19.86&rgn=div5#se40.21.86_1000_624
Experience talk! Thanks Ty!
 

Rickb

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Elio has not raised any money from operations. That means Elio hasn't built or sold any cars. That is true, but easily misconstrued. They go on to say they raise money from loans and investors, and expect to go on doing so. Tesla did precisely the same thing!

These statements are cautionary -- and IMO Elio has not been careful enough in their phrasing so as to avoid giving uber-trolls like Joe Borass a convenient weapon. However, they do not indicate a need for panic on our part. All this statement actually says is, "we haven't made any money from building cars, and we won't until we have procured sufficient financing from lenders and investors. We expect to continue to accrue losses until we commercialize our vehicles, and it is possible we won't make any money then, either."

That's all true. They are burning money, and it is POSSIBLE they won't make any money once they launch operations. But everyone on tis forum knows that the math of the Elio is such that the vehicle will be immensely profitable, and 62,820 reservations (as of this writing) demonstrate that demand is real.

SEC Filings are designed to protect the company against litigation for false claims and advertising. They ARE NOT statement of a probable future.

Do not panic over this crap. And Borass, as I have said before, has no personal integrity -- as I know from personal experience with him. Unfortunately, others may believe his piece, but he is a burp, not even a belch, in the long process of pulling this project to completion.
I respect your posts. The forward looking statements clause following all EM's marketing is to protect the company against litigation from false claims and advertising. The required SEC filings aren't crap, but are required financial documentation to inform and protect all investors so they can make informed decisions. They are factual statements made in the process leading up to the startup's probable future........success or failure. I'm hoping for success. It's smart for investors to know exactly where a company is financially speaking, why targets aren't being met, and where it's going.

A curious question: With the Elio knowledge you've gained over the past few years, would you personally or would you highly recommend your friends and family to place a non-refundable Elio reservation deposit, or rather encourage a refundable deposit? All-in seems riskier today based on EM's filings, than it did in 2013 when reservationists thought they would be taking delivery in 2014-15. I agree that there is no need for panic, but enthusiasts might be a little more cautiously optimistic and more understanding of both sides of EM's possible outcome.

With that said, I'm going with 3wheelin's wise new signature and won't post another word about EM's filings since financials leading to progress apparently mean nothing to either a hardcore enthusiast investor or to a no risk investor. Let the newbies do their own research.
 

Coss

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I respect your posts. The forward looking statements clause following all EM's marketing is to protect the company against litigation from false claims and advertising. The required SEC filings aren't crap, but are required financial documentation to inform and protect all investors so they can make informed decisions. They are factual statements made in the process leading up to the startup's probable future........success or failure. I'm hoping for success. It's smart for investors to know exactly where a company is financially speaking, why targets aren't being met, and where it's going.

A curious question: With the Elio knowledge you've gained over the past few years, would you personally or would you highly recommend your friends and family to place a non-refundable Elio reservation deposit, or rather encourage a refundable deposit? All-in seems riskier today based on EM's filings, than it did in 2013 when reservationists thought they would be taking delivery in 2014-15. I agree that there is no need for panic, but enthusiasts might be a little more cautiously optimistic and more understanding of both sides of EM's possible outcome.

With that said, I'm going with 3wheelin's wise new signature and won't post another word about EM's filings since financials leading to progress apparently mean nothing to either a hardcore enthusiast investor or to a no risk investor. Let the newbies do their own research.
"....I'm going with 3wheelin's wise new signature and won't post another word about EM's filings...."

Thank you. :thumb:

As for me, I have no problem recommending $1K All In (non-refundable) to friends and family.
 
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