I Believe Elio Thought They Could Raise 200 M From Reservation Deposits.

[lafrisbee]

Lawyers get paid by the hour. And it is up to them now.

I see this as an end run by the Parrish to make Elio(the company) pay more. And so I will wait and see what further news tells...but did I mention? "LAWYERS GET PAID BY THE HOUR." So don't expect any news this week....month?... Year?

 

[3 Card]

Yep, I'm in at $100. I figure there's many ways I could blow $100, so if they fold, no big loss. I didn't jump in a $1k because I felt $100 was a prudent investment until further progress is made. If you are so worried about your investment, you should have thought ahead and opted for the refundable deposit. With an investment of this nature, there are no guarantees you'll receive product or your money back. The fine print was very clear.
Don't project your trollish behavior on me; I'm not trolling by feeding the forum false information.

If they fold nobody gets money back refundable or not..I took the chance,, you needed / bought a t shirt..

 

[Ty]

The refundable money is being held in a trust - untouchable by Elio unless they produce your car.

 

[2.ooohhh]

If they fold nobody gets money back refundable or not..I took the chance,, you needed / bought a t shirt..

This is absolutely incorrect, as Ty pointed out above the money for refundable deposits is clearly stated to be held in escrow in section 11 of the refundable reservation agreement.

 

[3 Card]

This is absolutely incorrect, as Ty pointed out above the money for refundable deposits is clearly stated to be held in escrow in section 11 of the refundable reservation agreement.

Don't forget to leave cookies and milk on the table for Santa

 

[2.ooohhh]

Don't forget to leave cookies and milk on the table for Santa

Just b/c you apparently choose to sign things without reading them doesn't mean that the rest of us did. I printed and thoroughly read both reservation agreements in full before putting my money down. I just considered it due diligence.

11. Acknowledgments
YOU UNDERSTAND THAT ELIO MOTORS, INC., MAY NOT HAVE COMPLETED THE DEVELOPMENT OF THE VEHICLE OR BEGUN MANUFACTURING THE VEHICLE AT THE TIME OF YOUR RESERVATION. WE WILL HOLD YOUR RESERVATION PAYMENT SEPARATELY IN AN ESCROW OR TRUST FUND BUT WILL NOT PAY ANY INTEREST ON RESERVATION PAYMENTS, EXCEPT TO THE EXTENT REQUIRED BY LAW.

 

[Ty]

I doubt Paul would want to go to jail violating THAT particular law. Even Santa would have trouble understanding how that would be possible.

 

[karl]

I believe my meds are ok, but has anyone done the math on how many $1000.00 deposits it would take to get 200 million? Going to look for some whiskey to add to my coffee.

 

[JP]

You realize this is a startup. You took a risk by putting down a deposit and now you just need to sit and wait it out. An investment club I'm in bought stock in Under Armour several years ago and it has made them over $25,000. Didn't happen overnight, or even a year. With some things, it's best to wait it out.

 

[3 Card]

I believe my meds are ok, but has anyone done the math on how many $1000.00 deposits it would take to get 200 million? Going to look for some whiskey to add to my coffee.

200,000.. Elio claims they can produce 250,000 in 1 year..so that hoping for enough reservations to cover it is not all that crazy.. so far they are 185, 000 short.. way more than that if they were planning on everyone putting up a grand..