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

[Dustoff]

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.

Let's see. Ah, 200,000,000/1,000=200,000
40 year old Scotch thank you.

 

[3 Card]

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.

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

how many people put up refundable money.. i didn't .. did you

 

[karl]

Let's see. Ah, 200,000,000/1,000=200,000
40 year old Scotch thank you.

I would never put that in my coffee. My standards may be low but they do exist. :>)

 

[2.ooohhh]

how many people put up refundable money.. i didn't .. did you

I didn't, If I get $1500 off an elio I'll put a mark in the "win" column if I loose my $1k I'll chalk it up as a loss. Either way I didn't put any money down that I couldn't afford to. If you can't afford to walk away from an investment empty handed if it goes south you should not be investing that money.

 

[Ty]

I didn't, If I get $1500 off an elio I'll put a mark in the "win" column if I loose my $1k I'll chalk it up as a loss. Either way I didn't put any money down that I couldn't afford to. If you can't afford to walk away from an investment empty handed if it goes south you should not be investing that money.

Well said... and well forgotten... The housing market showed that. How many people got in over their heads and then had to walk away from it?

 

[3 Card]

I didn't, If I get $1500 off an elio I'll put a mark in the "win" column if I loose my $1k I'll chalk it up as a loss. Either way I didn't put any money down that I couldn't afford to. If you can't afford to walk away from an investment empty handed if it goes south you should not be investing that money.

Well said... and well forgotten... The housing market showed that. How many people got in over their heads and then had to walk away from it?

I put up my money knowing it could be kissed good bye..but It was not an investment..it was a down payment on a car.. An investment is taking a chance.. A down payment is a different story.. you nor I invested in Elio, we purchased something that may or may not be delivered

 

[RogWild]

Again; you DID NOT READ the agreement, you purchased a 'place in line', NOT a "down payment on a car"!

 

[2.ooohhh]

I put up my money knowing it could be kissed good bye..but It was not an investment..it was a down payment on a car.. An investment is taking a chance.. A down payment is a different story.. you nor I invested in Elio, we purchased something that may or may not be delivered

A $1000 payment on a product that is neither finished with development nor in production in the hopes of netting a $1500 credit towards the purchase of a vehicle is the very definition of an investment.


in·vest·ment
inˈves(t)mənt/
noun
noun: investment; plural noun: investments

1. 1.the action or process of investing money for profit or material result.
   "a debate over private investment in road-building"
   synonyms:investing, speculation;

 

[Chris F]

A $1000 payment on a product that is neither finished with development nor in production in the hopes of netting a $1500 credit towards the purchase of a vehicle is the very definition of an investment.


in·vest·ment
inˈves(t)mənt/
noun
noun: investment; plural noun: investments

1. 1.the action or process of investing money for profit or material result.
   "a debate over private investment in road-building"
   synonyms:investing, speculation;

Actually, no, that's not correct. An investment under the Federal Securities Laws is defined as giving money to a third person with the expectation of profit from the operation of that person's business efforts. When I put my money in, I had no expectation that Elio would repay my capital with a profit earned from the operation of the business. I bought a place in line with expectation of a discount on the final product. 2 very different things.

 

[Ty]

Actually, no, that's not correct. An investment under the Federal Securities Laws is defined as giving money to a third person with the expectation of profit from the operation of that person's business efforts. When I put my money in, I had no expectation that Elio would repay my capital with a profit earned from the operation of the business. I bought a place in line with expectation of a discount on the final product. 2 very different things.

While I, on the other hand, will see a 50% return on my investment when I pick up my car and have the price dropped in accordance with the 10 gets you 15 rule. (Example- not an Elio number.)