Interesting Report From A Person That Went To The Reno Event

[Jeff Porter]

Copied and pasted from a Facebook post, some interesting perceptions and information. Gentleman's name is John Bain:

"Here's my review from the huge Reno auto show last weekend sitting in the P4 Elio and behind the scenes info with company staffers. As others have said, the vehicle is cooler in person than pictures. Temporary Mustang seat & camero steering wheel in the prototype. I'm 6'2'' height, no problem, no apparent blind spots. Lots of room in back, cute small trunk. The plastic display model engine on a stand is about the size of 4 loaves of bread. If it gets the car moving, that's what counts. This car could sell like crazy. Very kind and refreshing Elio employees. They are proud of their government regulatory accomplishments. I mentioned their over optimism for a product without manufacturing funding. Their attitude was amazingly understanding and non defensive. They said every weekend followers express displeasure with the marketing disconnect. - Here's the car but we can't make it. I was assured they're hit on this with great frequency. I asked why does PR guy say "we're on TRACK" for a 2013-14-15 date when no one knows. Staffer said that's not the PR guys choice of wording, but that Paul E. insists on using the "on track" phrase. Staffers say " Paul has been presented with production $$$ multiple times. Problem is these "partners" want too much control. One wanted to scuttle the Elio engine and use another. So $$$ string attachments have been too heavy for Paul to accept." Downside is they cannot move forward. Can't do anything with leased Shreveport plant. Staffers say mall tour effort is exhausting and on a shoestring budget. So frustration on staff shoulders as they honestly convey a catch 22. They want to see this happen with all their hearts. Maybe hit 40 thousand reservations and waive that around to investors. I left the event on a high. Seeing the awesome car and refreshing business conversations with the kindest people you'd meet. Will my reservation be built. I have no idea. That's my wife in the car picture."

 

[ClubJoe]

This is uplifting about the physical car review but a definite down on the progress report.

ClubJoe
Sunny Brandon, FL

 

[outsydthebox]

Copied and pasted from a Facebook post, some interesting perceptions and information. Gentleman's name is John Bain:

"Here's my review from the huge Reno auto show last weekend sitting in the P4 Elio and behind the scenes info with company staffers. As others have said, the vehicle is cooler in person than pictures. Temporary Mustang seat & camero steering wheel in the prototype. I'm 6'2'' height, no problem, no apparent blind spots. Lots of room in back, cute small trunk. The plastic display model engine on a stand is about the size of 4 loaves of bread. If it gets the car moving, that's what counts. This car could sell like crazy. Very kind and refreshing Elio employees. They are proud of their government regulatory accomplishments. I mentioned their over optimism for a product without manufacturing funding. Their attitude was amazingly understanding and non defensive. They said every weekend followers express displeasure with the marketing disconnect. - Here's the car but we can't make it. I was assured they're hit on this with great frequency. I asked why does PR guy say "we're on TRACK" for a 2013-14-15 date when no one knows. Staffer said that's not the PR guys choice of wording, but that Paul E. insists on using the "on track" phrase. Staffers say " Paul has been presented with production $$$ multiple times. Problem is these "partners" want too much control. One wanted to scuttle the Elio engine and use another. So $$$ string attachments have been too heavy for Paul to accept." Downside is they cannot move forward. Can't do anything with leased Shreveport plant. Staffers say mall tour effort is exhausting and on a shoestring budget. So frustration on staff shoulders as they honestly convey a catch 22. They want to see this happen with all their hearts. Maybe hit 40 thousand reservations and waive that around to investors. I left the event on a high. Seeing the awesome car and refreshing business conversations with the kindest people you'd meet. Will my reservation be built. I have no idea. That's my wife in the car picture."

Thanks for posting.
I think it is refreshing to hear that Paul is not willing to compromise in order to get funding. Interesting term: "On track"...and I think, quite appropriate. To give up "controlling interest" could derail EM. His vision is NOT short sighted or greedy, and that impresses me.

 

[AriLea]

Thanks for posting.
I think it is refreshing to hear that Paul is not willing to compromise in order to get funding. Interesting term: "On track"...and I think, quite appropriate. To give up "controlling interest" could derail EM. His vision is NOT short sighted or greedy, and that impresses me.

I think I'll take out one more reservation. I don't mind kicking in a little more to see this though. I think there is 99% chance I could recoup my money and even profit by reselling it.
August has got two week spreads between showings. Maybe the crew will catch up on a bit of rest.
Rethinking this a bit, you know it means he has offers on the table. That gives some level of options and negotiation available. Something good could easily come from that.

 

[Neal]

Thanks for posting.
I think it is refreshing to hear that Paul is not willing to compromise in order to get funding. Interesting term: "On track"...and I think, quite appropriate. To give up "controlling interest" could derail EM. His vision is NOT short sighted or greedy, and that impresses me.

This is exacly why they have not done something like go on the TV show "Shark Tank". Though it would be great exposure, the investors on there always want way too much of the pie. I wish this was going faster, but I , too, am glad Paul is not just going for a quick buck and is following through on his dream and goals.

 

[zelio]

Copied and pasted from a Facebook post, some interesting perceptions and information. Gentleman's name is John Bain:

"Here's my review from the huge Reno auto show last weekend sitting in the P4 Elio and behind the scenes info with company staffers. As others have said, the vehicle is cooler in person than pictures. Temporary Mustang seat & camero steering wheel in the prototype. I'm 6'2'' height, no problem, no apparent blind spots. Lots of room in back, cute small trunk. The plastic display model engine on a stand is about the size of 4 loaves of bread. If it gets the car moving, that's what counts. This car could sell like crazy. Very kind and refreshing Elio employees. They are proud of their government regulatory accomplishments. I mentioned their over optimism for a product without manufacturing funding. Their attitude was amazingly understanding and non defensive. They said every weekend followers express displeasure with the marketing disconnect. - Here's the car but we can't make it. I was assured they're hit on this with great frequency. I asked why does PR guy say "we're on TRACK" for a 2013-14-15 date when no one knows. Staffer said that's not the PR guys choice of wording, but that Paul E. insists on using the "on track" phrase. Staffers say " Paul has been presented with production $$$ multiple times. Problem is these "partners" want too much control. One wanted to scuttle the Elio engine and use another. So $$$ string attachments have been too heavy for Paul to accept." Downside is they cannot move forward. Can't do anything with leased Shreveport plant. Staffers say mall tour effort is exhausting and on a shoestring budget. So frustration on staff shoulders as they honestly convey a catch 22. They want to see this happen with all their hearts. Maybe hit 40 thousand reservations and waive that around to investors. I left the event on a high. Seeing the awesome car and refreshing business conversations with the kindest people you'd meet. Will my reservation be built. I have no idea. That's my wife in the car picture."

I believe this is the same report we read earlier in the week but presented in a way that tells a fuller story. Now I see the $$$ investors mentioned are NOT the ones now invested but new potential investors who want more control and want to dump the IAV engine. That makes me feel a whole lot better as my impression of our current board is they are wholly behind the Elio as it is in Paul Elio's concept/plan/goals. As long as they are still on board I feel confident this is going to happen. They have been in on this for the long haul and that tells me a lot about their level of commitment.

I saw the tour group on Friday in Portland (a 3 day event) and had my picture taken with a couple of the people - one that has not been posted because I still have not figured out how to post pictures and get the image to show up. I saw a picture of another member obviously taken later in the weekend and the signs of exhaustion were definitely there. This marketing staff is truly an amazing group of people who have to be "up" all the time for the public. I admire their ability to spend time and energy with so many people and still have faith in the product they are promoting. That says a lot for them, for the Elio and for Paul Elio. Some of them have been doing this since early 2013 and it has been a grueling schedule. Especially with the increase of events this year. I believe they did 30 events last year and this year that has doubled. Truly amazing and I had the pleasure of spending time with them that I loved. They are a fantastic group! Z

 

[zelio]

I think I'll take out one more reservation. I don't mind kicking in a little more to see this though. I think there is 99% chance I could recoup my money and even profit by reselling it.
August has got two week spreads between showings. Maybe the crew will catch up on a bit of rest.
Rethinking this a bit, you know it means he has offers on the table. That gives some level of options and negotiation available. Something good could easily come from that.

If my finances allowed it, I would join you! :-) Z

 

[Kuda]

This is exacly why they have not done something like go on the TV show "Shark Tank". Though it would be great exposure, the investors on there always want way too much of the pie. I wish this was going faster, but I , too, am glad Paul is not just going for a quick buck and is following through on his dream and goals.

It's my understanding that Elio has enough committed funds to see itself
through to production.That includes the testing of pre-production prototypes.
The funding for production will come from the 'private placement' they have
been involved with for sometime now (they don't happen quickly) & if they meet
their required benchmarks the funding will be released in increments (tranches)
per contract & per meeting production, sales & distribution milestones. None of
this can be discussed publicly, & employees are under a 'confidentiality order'
not to divulge any details as to the placement & it's progress...............also Paul
is fully vested in his dream & the investors have enough confidence in him & his
team to have entered into the placement in the first place.......time to chill a little.
What will worry me, to some degree, is if milestones such as engine & tranny
testing & safety testing time-frame starts shifting.................

https://www.invesco.com/portal/site/us/institutions/private-placements/

The sale of securities to a relatively small number of select investors as a way of raising capital.
Investors involved in private placements are usually large banks, mutual funds, insurance companies & pension funds. Private placement is the opposite of a public issue, in which securities are made available for sale on the open market.

Since a private placement is offered to a few, select individuals, the placement does not have to be registered with the Securities and Exchange Commission. In many cases, detailed financial information is not disclosed and the need for a prospectus is waived. Finally, since the placements are private rather than public, the average investor is only made aware of the placement after it has occurred.

 

[Jeff Porter]

Great input everyone!

Apologies about the last sentence in that post, I didn't plan on copying the picture of his wife, but forgot to delete that sentence.

 

[Fishheadbarandgrill]

What's the issue with the plant? Thought that it was a lock now that rhe parish controlled the property and the primary leaseholder cooperating.