I was gob-smacked!

[RSchneider]

This would imply that Elio, or whoever manages the refundable deposit escrow account, has given up on there ever being a (at least a gas powered) Elio.

I think the fat lady is singing

I put $50 down into a smartwatch company for a refundable reservation. That was 15 years ago. In 2020 I received a check from them. 6 months later they declared bankruptcy.

Upon research, the bankruptcy judge required them to pay back the refundables first. Than the creditors. After that, the company was done.

 

[ehwatt]

Got got a refund. Unsolicited! With nice note saying sorry, but try as they might, it was not going to happen; but, if it does happen I have option to get my place in line back. I, for one, take back some unkind thoughts.

When wife deposited check she noticed it was from silicone valley bank. Maybe he waited until they were bailed out.

 

[boppa1mimi]

My nephew just called me and said he got a $100 check from Elio. Wow, never thought that would happen. We put down $1,000 and will probably never see a dime of that again, I guess there is a big difference between a deposit and a reservation but there is also a big difference between $100 and $1,000. I guess we deserve to get taken to the cleaners just because we bought the BS that Paul Elio was spouting, he is such a low life scum bag. I really wanted one of those little cars and I wanted to see him succeed and I gave him a better than 50% chance of succeeding, I just didn't realize he was running a scam. Now I see they are trying to get money from folks for an Electric Elio. I just hope folks look at their track record before parting with their money. I still have some extremely unkind thoughts regarding Mr. Paul "I'll take your money" Elio. I used to wonder how people like him could sleep at night but then I realized they didn't have to count sheep, they just fell asleep counting other people's money.

 

[RSchneider]

My nephew just called me and said he got a $100 check from Elio. Wow, never thought that would happen. We put down $1,000 and will probably never see a dime of that again, I guess there is a big difference between a deposit and a reservation but there is also a big difference between $100 and $1,000. I guess we deserve to get taken to the cleaners just because we bought the BS that Paul Elio was spouting, he is such a low life scum bag. I really wanted one of those little cars and I wanted to see him succeed and I gave him a better than 50% chance of succeeding, I just didn't realize he was running a scam. Now I see they are trying to get money from folks for an Electric Elio. I just hope folks look at their track record before parting with their money. I still have some extremely unkind thoughts regarding Mr. Paul "I'll take your money" Elio. I used to wonder how people like him could sleep at night but then I realized they didn't have to count sheep, they just fell asleep counting other people's money.

If yours was refundable, you'll be getting a check too. If not, you are out of luck. Non refundable is non refundable.

 

[JEBar]

the fact that Elio has now come to this point comes as no surprise, in fact it has been obvious that they were done for a long time .... it comes as a most pleasant surprise that refunds are being issued

 

[RSchneider]

the fact that Elio has now come to this point comes as no surprise, in fact it has been obvious that they were done for a long time .... it comes as a most pleasant surprise that refunds are being issued

I agree. It has to come to an end at sometime. I look at it as this is the first step to bankruptcy. I just wonder what will happen to the assets. For cars, I expect them to be at an equipment auction.

 

[JEBar]

I agree. It has to come to an end at sometime. I look at it as this is the first step to bankruptcy. I just wonder what will happen to the assets. For cars, I expect them to be at an equipment auction.

there was a report some time back that all of the demo vehicles had been turned over to creditors .... don't know how accurate that report was or not

 

[LillyMayPatterson #1685 & #5648]

there was a report some time back that all of the demo vehicles had been turned over to creditors .... don't know how accurate that report was or not

I remember that and at the time I instant messaged the 'team' Chip and asked "Where are the prototypes? He, as expected, gave me the royal smoke treatment. What else could he do? I hold NO hard feeling to Paul or the team (Chip). Or Jerome. I named a fine baby buck goat after him and sold it for a good price. I still have his sister, Pamela. She is the best milker out there. I believe with all my heart they did the best they could, tried to get this to market. I am filled with grief, sad like I lost another dog. My heart is broken for Paul and the team. I've been saving for FOUR reservations, for over TEN years. I got the money now, safely tucked in a saving account. I've never had this kind of money before. I will be dammed to buy a Tesla. No fricken way I'm 'going electric'. I wanted to help my family. I wanted to get my daughter out of the ghetto. I wanted to see if a goat would fit in the back seat of an Elio. I wanted to ride four wide in parades with the DAV / VVA. Well, this is not the first time I got kicked in the teeth. But, I hope it is the last. I made some friends in this Elio world and you all are precious to me. I am not even mad at Chip. I commend his ability to blow smoke when he needed too. LONG LIVE THE DREAM.

 

[RSchneider]

there was a report some time back that all of the demo vehicles had been turned over to creditors .... don't know how accurate that report was or not

Wouldn't suprise me. The vehicles and all of the parts are probably sitting in a container somewhere. The show truck and trailer along with all of that stuff I bet was sold a long time ago. Then there's all of the plant equipment. Since they still owed money on that loan (last report was $3.8M), that just gets turned over to the people holding the loan. Then there's the stock.

I suspect it'll all quietly go away, Elio Motors will become a new entity (i.e. EM, LLC) and they will keep the website going because there might be that chance Bill, Jeff, Elon or Warren give him a call and then write him a billion dollar check. Plus, it keeps the people with reservations, a glimmer of hope.

I hope Arcimoto or Aptera hire Paul as he could tell them what not to do.

 

[3wheelin]

Wouldn't suprise me. The vehicles and all of the parts are probably sitting in a container somewhere. The show truck and trailer along with all of that stuff I bet was sold a long time ago. Then there's all of the plant equipment. Since they still owed money on that loan (last report was $3.8M), that just gets turned over to the people holding the loan. Then there's the stock.

I suspect it'll all quietly go away, Elio Motors will become a new entity (i.e. EM, LLC) and they will keep the website going because there might be that chance Bill, Jeff, Elon or Warren give him a call and then write him a billion dollar check. Plus, it keeps the people with reservations, a glimmer of hope.

I hope Arcimoto or Aptera hire Paul as he could tell them what not to do.

Even a full blooded Australian optimist won't agree with your statements. By the way, got my $100 check refund too. Shall I dare depositing it and not bounce???