Interesting Comments From Patrick Byrne And Paul Elio...

[KD]

I have to agree with the positive sentiment regarding this ElioCoin proposition, as opposed to turning pessimistic. If allowing buyers with deeper pockets to leap-frog me in line enables the company to move closer to real production capability, then I'm all for it.

Obviously my gut reaction at first was absolute disdain for the idea ever having been seriously considered. But after careful consideration, this is an end-around method of mimicking the Tesla Motors ramp-up to mass production, which has proven to be a viable business model.

At a macroeconomic scale, first came the low-volume high-margin Roadster. Then came the moderate-volume high-margin Model S and X. Ultimately, the revenues obtained through those sales led to the high-volume low-margin Model 3.

At a microeconomic scale, as production ramped up for each respective model, the fully-loaded and optioned-out variants with the highest and most profitable margins were produced and delivered first. Reservation holders opting for base model vehicles understood they would need to wait for their cars.

If someone is willing to pony up extra money for the capitalist privilege of jumping ahead in line, and that enables Elio Motors to generate new capital which leads to real production, then I'm all for it. If the company never reaches production, then an all-in locked-in non-refundable Spot-in-Line is absolutely meaningless anyway. The last thing I'll do is whine about being leap-frogged as long as cars actually get delivered.

I concur on all counts. Let's get this thing going so we can amaze all our friends and family!

 

[wizard of ahs]

Here’s a few comments from a TV interview with Patrick Byrne and Paul Elio...

And I quote today’s KUTV interview...

>>>> Elio admits his company has struggled with funding.

"Our capital markets are broken," Elio said."I don’t think it was us. The system is broken."

The car company needs roughly $375-million to start production. So far, the company has raised $115-million.

"I think cryptocurrency is part of that solution," Elio said during the news conference without going into detail.

According to Byrne, the car company will raise money by selling security tokens similar to the cryptocurrency bitcoin.

"I’m actually more excited about the token," said Byrne, explaining that people who buy the coin won't have to wait in line to buy a car. <<<<

Hummm...does this mean the current reservation holders go to the back of the line...hard to understand Byrne’s thought process!

That's exactly what it means

 

[Made in USA]

Having the rich people putting up their money might just get the Elio produced sooner and we can get ours soon after. It might also open an opportunity for an investor who is looking for publicity. (What's three hundred million anyway if there will be a payback in the end?)

So rich people jumping ahead in line might get our vehicles made before the current plan would. In the end, it might not matter, as long as we get ours by next year.

 

[ElioWallSteet]

Having the rich people putting up their money might just get the Elio produced sooner and we can get ours soon after. It might also open an opportunity for an investor who is looking for publicity. (What's three hundred million anyway if there will be a payback in the end?)

So rich people jumping ahead in line might get our vehicles made before the current plan would. In the end, it might not matter, as long as we get ours by next year.

Really now...LOL...“Rich People” overpaying to puchase an
economy vehicle...and to raise hundreds of millions of funding via “overpaying” for Elio vehicles...

Definitely an innovative business plan...or not...

 

[RUCRAYZE]

I think that rich people will spend whatever it takes to get an Elio and get in front of the line. If it means spending $50K to do it, then I'm all for pushing everyone back in the queue. Plus those rich people will be driving around in their Elio and building a demand for it. Even the Hollywood types will get in on it and spend lots just to have the latest. This is having people pay to advertise for Elio. Elio will use that extra profit to make up for the locked in SIL's.

just John Leno would get it off the dime.

 

[ElioWallSteet]

Thanks booboo for that transcript.
I got to read the first page and a half before seeking alpha told me I had to register for the other 13 pages.
What I did read sure looked like the typical unclear David Byrne rambling he's well known for.

Actually what it looks like is a deal-breaker with a good number of the 65,000 current reservation holders.
If indeed we were paying for a SIL, and not a guaranteed car, as I've heard over and over again...
IMO, it might also be legal grounds to be entitled to our "non-refundable" back.

So...supposedly 'when' they finally raise enough money to get tZero finished...
Last week Eliocoin was initially going to only be available to qualified institutional investors.
But as of today it will be an auction currency to (what sounds like) leapfrog over all the reservation holders.

So... doesn't it sound a little like they're making this up on the fly?
Or is this just basically the same reservation program in a convoluted wrapping?
In a video recorded yesterday Patrick Byrne didn't even know how to pronounce "Elio" correctly.

I guess we'll have to wait until Friday for Paul Elio to clarify all of this. .

I also read the transcripts of the shareholders meeting...

Byrne seems to just ramble on...he certainly did not lay out a clear path to Elio funding via ElioCoin...

Very few seem to understand that STO offering’s are now subject to the same SEC regulations as an IPO...

Elio Motos will be put under the same balance sheet scrutiny as their withdrawn NASDAQ listing...

A ElioCoin offering will be a long and drawn out process...

 

[84mpg]

Really now...LOL...“Rich People” overpaying to puchase an
economy vehicle...and to raise hundreds of millions of funding via “overpaying” for Elio vehicles...

Definitely an innovative business plan!

JUST an “economy” vehicle?

I realize many (most) people have not been able to see the Elio in person. Or to sit in one. I’ve done both - twice. I assure you, the Elio will be much more than just an economical vehicle. It will be a blast to drive. There’s not another vehicle on the road like it. Period. And you can bet Chevy, Ford, Dodge, Honda, Toyota, Nissan, etc, etc etc will NEVER put a vehicle like this on the road - at its price point.

Some “rich” folks will most certainly pay bigger bucks for this unique driving experience.

 

[RSchneider]

I also read the transcripts of the shareholders meeting...

Byrne seems to just ramble on...he certainly did not lay out a clear path to Elio funding via ElioCoin...

Very few seem to understand that STO offering’s are now subject to the same SEC regulations as an IPO...

Elio Motos will be put under the same balance sheet scrutiny as their withdrawn NASDAQ listing...

A ElioCoin offering will be a long and drawn out process...

He does ramble on and on. At this point with Elio, even if it takes a while, we are all used to waiting and another few months is not a deal breaker. It gives Elio time to start advertising the car and build up momentum going into the STO. I think when people know they can spend more to get that Elio speedpass, that's going to really take off and release a lot of pent up demand. I just hope Elio doesn't run into some engineering obstacle where they burn through cash that should have been used for production. Hopefully Jack Roush has told them everything they need to know, so there will be no "gotchas" that extends the 76 weeks.

That's another one, have Jack Roush drive around in an Elio and take it to every NASCAR race. That would sell a few thousand each race weekend.

 

[Elio Amazed]

No matter what unconfirmed (and likely unauthorized) information Byrne rambled on about...
It's going to take a hell of a lot of gullible "Rich People" winning auctions to raise $376M.
I don't believe magical Mr. Byrne reduced the production requirement by almost half.
The rambling man didn't even know how to pronounce "Elio" correctly yesterday!

I say gullible because those people can plainly see that EM seems about to break OUR reservation SIL commitment.
They can see EM's track record as plainly as we can. And tZero hasn't even raised enough funding to finish and launch yet.

Are the winners of auctions that will be held before production going to be guaranteed a vehicle? IMO, probably not.

So exactly where are they going to find enough "Rich People" stupid enough to say...

"Hey, those original reservation people only spent $100 to $1000 in good faith...
And not only did EM go back on their deal, they've been waiting up to 4+ years!
Heck yeah, that looks great! Makes perfect sense! Count me in! Here's my $7500!"

"Now, all I have to do is cross my fingers and hope that there are 26,667 other "Rich People"...
That are as gullible as I am in order to have EM reach JUST the $200M Byrne seemed to pull out of the air..."

"And wait for whatever time it takes for the rest of the fundraising, building and launch of tZero...
Then wait for AT LEAST 26K more "Rich People:" to buy Eliocoin at auction...
And then wait another 76 weeks until the first Elio is made...
What's to not like"?

Arcimoto offered a Signature Series at three times the price of the production vehicle.
They are building and delivering those vehicles now. They sold 6 altogether. Including the CEO's.

All I can say is, here we go again.
EM throws out some crazy plan and all their troubles disappear.
Tomorrow should be even more interesting than yesterday..

 

[Sega]

Wait a minute.....you guys are talking about rich folks jumping in NOW?! Why wouldn't they have done this 5 or 7 years ago? Just because they are selling some eliocoin doesn't mean a bunch of rich people are going to be like "I wasn't interested in that company that blew through $100M and have nothing to show for it, but now that that have the eliocoin, i'm interested."

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