How This Radical Car Missed Its Chance To Change The World - Maybe!

[Watashiwah]

It is interesting, as well, that Stu kinda ‘came and went,’ too. Stu’s ‘long suit’ is of course Real Estate deals but he did appear to get unnecessarily a little too involved in the Elio Saga, early on. Now he’s all but disappeared except for maybe orbiting around that weird impromptu and un-promoted (read: of no benefit to EM) ‘pop up’ for Ohio’s Governor.

I think the thread that links all the previous business attempts, automotive and otherwise, is Hari S. Iyer and ESG Engineering. ESG Engineering spawned Elio Motors and ESG eventually provided the ‘vehicle’ (rhetorically and actually) to artfully leverage the elusive DoE ATVM loan again to the driving public. Hari has an interesting history with pursuit of the ATVM loan among other pursuits.

Stu certainly is way above even the appearance of such questionable practices and just maybe Connie felt it was time to ‘jump ship.’ Of course she may just reappear again with Hari on another project.

Bob Glaspie, the ‘G’ in ESG looks like the ‘real deal’ and has a very impressive resume separate and long after the incorporation of ESG Engineering. It doesn’t appear he has had much to do with them for many years. Interesting!!

 

[RSchneider]

Hari left Elio Motors to do this, but stayed on the BoD:
https://www.eliomotors.com/former-c...-car-subscription-service-yoyo-press-release/
It looks like that company went belly up. So now he's onto another adventure of him being a Serial Entrepreneur and CEO of this company:
https://www.kapeesh.io/

Also, Bob and Hari (The S and G of ESG Engineering) both worked at V-Vehicle/Next Autoworks. Bob was the Lead Integration Engineer and Hari, the VP of Engineering. V-Vehicle went out of business because they couldn't get an ATVM loan. When it reemerged as Next Autoworks, it too went out of business because it couldn't get an ATVM loan. All while Elio Motors applied for the ATVM loan in 2009, got rejected and then reapplied in 2014 and nothing has happened. When Hari was COO of Elio Motors, he was paid to keep the ATVM loan going.

Top it off Hari went to Envira Systems as the Executive Vice President of Commercialization and that turned out to be a debacle. Inevitably, it too went out of business.

 

[Samuel Gompers]

That’s BIG news! It would be BIG news even if there were other news, but no longer having (and now losing, for whatever reason) the one Corporate Officer with the fiduciary Federal “sign off” responsibilities is a very big deal. It normally would appear relatively easy to keep the CFO ‘onboard’ for continuity and appearances, especially since there’s nothing to ‘attest to;’ unfortunately this will speak volumes to the ‘future investors’ Paul and Hari are out there so busily pursuing. Can’t say I’m surprised there’s no announcement: A CFO is held to a particular and uniquely high standard among the Corporate Officers.

Great effort Ghastly in unearthing that buried tidbit!! Kudos

Not really BIG news. It might be in a fully active company, but it's no surprise when people no longer work at a company that has gone almost completely dark.

 

[Coss]

I asked what was going on there, this was the reply:

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The Elio Customer Experience Team (Elio Motors)

Oct 15, 13:28 EDT

Hey Coss,
Good to hear from you. Things are moving along here, sorry your group is having issues. We are working on a number of things still that will come to fruition in the future, and we will continue to do what we can to communicate our journey.

Make sure to check out our blog at www.eliomotors.com/blog

Thank you,
The Elio Team

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And that's all I could get out of them.

 

[84mpg]

"We are working on a number of things still that will come to fruition in the future....."

I will hold onto this....

 

[Made in USA]

"... sorry your group is having issues.." Really? What ever gave them that idea? And this: "We are working on a number of things still that will come to fruition in the future, and we will continue to do what we can to communicate our journey."

Zero is a number. So are negative numbers. I suppose if they file for bankruptcy then that could be considered something they are working on too. I also find it odd that they refer to themselves as being on a "journey" instead of progress.

Sorry to be a "Debbie Downer" but they really need to "communicate" something more than "Check out the Blog".

Thanks Coss for trying.

 

[Watashiwah]

"We are working on a number of things still that will come to fruition in the future....."

I will hold onto this....

The one ‘rare nugget’ here, for me, is “...WILL come to fruition...”

Too bad we have to parse every little scrap of info EM inadvertently allows to seep out but ‘fruition’ by all standards denotes something ‘good’ and “will” is absolute and now unprotected by ‘Future Looking Statements.’ Any future investor or particularly ‘reservationist’ (and arguably all past) could seize on and cite this as a promise for performance. EM, of course, avoids saying ‘when’ but now the onus is on them to prove steps to “fruition” and not just rely on insulting, inane or idle time delaying responses.

I believe EM will now rue making such a late, misfeasance re-opening, promise: it would not be a surprise that certain Elio Motors Principals are ‘circling the wagons,’ already in damage control mode.

Coss, Thanks for asking, and publicly posting. This time you, at least, got something with some substance!! EM’s responses have always been devoid of detail and real answers: I guess even they realize that now almost everyone is tired of digesting their bland pablum. Let us know if Elio asks you to remove it!!

 

[RSchneider]

It all makes sense. Pat did say that the Eliocoin was being recoded and due out at the end of the year. So this means that by the end of the year we will have good news from Elio Motors on their blog. The $25M they will raise will pay off some debt and get them going again. The $2.5M got engineers working back on the Elio project, imagine what 10X of that amount will do.

 

[Made in USA]

It all makes sense. Pat did say that the Eliocoin was being recoded and due out at the end of the year. So this means that by the end of the year we will have good news from Elio Motors on their blog. The $25M they will raise will pay off some debt and get them going again. The $2.5M got engineers working back on the Elio project, imagine what 10X of that amount will do.

A big problem they might have after the recoding is if the SEC will accept it. OTC Pink. No CFO. Pat Byrne under investigation for securities fraud while with Overstock. Doesn't instill much confidence in the Elio Motors management team.

 

[RSchneider]

A big problem they might have after the recoding is if the SEC will accept it. OTC Pink. No CFO. Pat Byrne under investigation for securities fraud while with Overstock. Doesn't instill much confidence in the Elio Motors management team.

Then Dr. Byrne can figure it out while he's in Indonesia. He's got the time and $90M that he can invest into Elio Motors. Maybe, Bankorus can help as Dr. Byrne likes them too.
https://cointelegraph.com/news/overstock-funded-bankorus-has-no-money-or-staff-says-1m-shareholder