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From The Sec 11/25/2016 Release...
- Thread starter wizard of ahs
- Start date
booboo
Elio Addict
Elio boss summoned to Shreveport
http://www.ktbs.com/story/35325275/elio-boss-summoned-to-shreveport
http://www.ktbs.com/story/35325275/elio-boss-summoned-to-shreveport
pistonboy
Elio Addict
On page 25 of Form 1K/A with SEC, it says:
"During 2016, Mr. Lichter advanced a total of $5,770,000 to us. He has advanced an additional $514,000, and purchased 33,445
shares of Common Stock in a private placement offering at $5.98 per share during 2017. The advances are evidenced by convertible
unsecured notes due September 30, 2022, which accrued interest at 5% per annum and are convertible into shares of our Common Stock
at any time prior to their maturity in 2022 at an initial conversion price equal to $15.00 per share. The convertible notes contained a
“most favored nation” clause. Mr. Lichter agreed to limit resales of shares obtained upon conversion to 2,500 per week so long as the
trading price per share of Common Stock is above $19.50. In April 2017, Mr. Lichter converted all of these convertible unsecured notes
into 1,077,752 shares."
On page 26 it says:
"In November 2016, James Holden and Kenneth Way each loaned $100,000 to us."
These people are much more financially savy about business than we are. They are also on the board of directors and are privy to the most private of information about Elio Motors.
The fact they are still putting their money into Elio Motors suggests to me that the company is still alive and kicking and still a ways from insolvency. I am not worried (yet).
Go Elio!
(this form at http://www.secdatabase.com/CIK/1531266 )
"During 2016, Mr. Lichter advanced a total of $5,770,000 to us. He has advanced an additional $514,000, and purchased 33,445
shares of Common Stock in a private placement offering at $5.98 per share during 2017. The advances are evidenced by convertible
unsecured notes due September 30, 2022, which accrued interest at 5% per annum and are convertible into shares of our Common Stock
at any time prior to their maturity in 2022 at an initial conversion price equal to $15.00 per share. The convertible notes contained a
“most favored nation” clause. Mr. Lichter agreed to limit resales of shares obtained upon conversion to 2,500 per week so long as the
trading price per share of Common Stock is above $19.50. In April 2017, Mr. Lichter converted all of these convertible unsecured notes
into 1,077,752 shares."
On page 26 it says:
"In November 2016, James Holden and Kenneth Way each loaned $100,000 to us."
These people are much more financially savy about business than we are. They are also on the board of directors and are privy to the most private of information about Elio Motors.
The fact they are still putting their money into Elio Motors suggests to me that the company is still alive and kicking and still a ways from insolvency. I am not worried (yet).
Go Elio!
(this form at http://www.secdatabase.com/CIK/1531266 )
James Holden and Kenneth Way were also given cheaper shares in the company and sold most of them. Lichter can sell the shares anytime as long as the shares do not go up to $19.50
booboo
Elio Addict
Sean is a lead staff writer for GM Authority. The words above are fueled by passion and large amounts of caffeine.
Read more: http://gmauthority.com/blog/2017/05...-operations-at-former-gm-plant/#ixzz4g8uHLqsz
Read more: http://gmauthority.com/blog/2017/05...-operations-at-former-gm-plant/#ixzz4g8uHLqsz
Elio Amazed
Elio Addict
"In for a penny, in for a pound."
Elio Amazed
Elio Addict
"Elio has until July 1, 2017 to create 15-hundred new jobs in Caddo Parish, or face a 7.5 million dollar penalty."
booboo
Elio Addict
Lichter will have to provide answers soon. According to the SEC filing, Elio has until July 1 of this year to create 1,500 jobs in Caddo Parish or it will be served a $7.5 million fine. Elio currently has 28 employees on its payroll.
Elio seems prepared to face the fine, too. According to its books, the $7.5 million fine has already been accounted for as of December 31, 2016.
Read more: http://gmauthority.com/blog/2017/05...-operations-at-former-gm-plant/#ixzz4g8xdLnW4
Perhaps that's where the $16M of Reg A+ funding went rather than the all important E Builds/testing, to pay down interest and the July 1 fine for failure to produce the promised jobs. Who gets the $7.5 Million fine Caddo Parrish or Stu Lichter's management company? I'm guessing Stu.