It's Official . Paul Has Let Me Down

[Ace]

The money's all gone and spent someplace else other than completing the all important e-series prototypes so it's a mistake PE can't take back now. And again with no "fully tested" engine and ELIO prototypes, how can VCs even consider funding it?

How many of the e-series actually got completed? 1.5?

 

[Maurtis]

How many of the e-series actually got completed? 1.5?

We know about the touring E1c, but the one sent to Red Dot for HVAC testing and the one sent to Continental for ABS testing I think we are not sure how complete they were. I think one of them had an empty engine bay?

 

[3wheelin]

How many of the e-series actually got completed? 1.5?

I few shiny ones for show and tell.

 

[RSchneider]

The money's all gone and spent someplace else other than completing the all important e-series prototypes so it's a mistake PE can't take back now. And again with no "fully tested" engine and ELIO prototypes, how can VCs even consider funding it?

I don't agree with Paul and Elio Motors' way of doing business. It's shady and barely legal. In the end, it's legal and no matter how upset you want to get, he did absolutely nothing wrong when it comes according to the law.

 

[Samalross]

I don't agree with Paul and Elio Motors' way of doing business. It's shady and barely legal. In the end, it's legal and no matter how upset you want to get, he did absolutely nothing wrong when it comes according to the law.

I think that you are right, their lawyers approved all the statements. Commissioning Zack SCR for the $45 stock valuation, should in my mind. be considered fraud. They were taking advantage of inexperienced investors and knew the metrics used were ridiculous.

 

[Ace]

We know about the touring E1c, but the one sent to Red Dot for HVAC testing and the one sent to Continental for ABS testing I think we are not sure how complete they were. I think one of them had an empty engine bay?

I have been struggling with why the e-series assembly came to a halt. When e-series assembly started, I was convinced this thing was going to happen even though it took 6 months to get the "show car" completed. I know they allegedly had issues with assembling that first batch, but they had the money to build all of them unless some of the changes that came about from the first batch precluded even trying to go any further. Did the re-engineering of the chassis with Rousch eat up all the cash?

 

[Watashiwah]

I have been struggling with why the e-series assembly came to a halt. When e-series assembly started, I was convinced this thing was going to happen even though it took 6 months to get the "show car" completed. I know they allegedly had issues with assembling that first batch, but they had the money to build all of them unless some of the changes that came about from the first batch precluded even trying to go any further. Did the re-engineering of the chassis with Rousch eat up all the cash?

Me too, plus I’ve been trying to get my head around the 25 million (was it more?) in stock paid to Paul’s engineering firm, ESG Engineering. I think it was issued when the stock price was fairly high, but my recollection is that it represented about a fifth of the total holdings at the time. Plus, Paul was drawing a $ 250,000 a year salary and there were some loans back and forth between EM, Stu, and Paul, as I recall.

Was that ~ 25 million to ESG for the chassis and body design that Roush re-engineered or was it for the dubious engine that was arguably unnecessary and probably abandoned ?

 

[Samalross]

Me too, plus I’ve been trying to get my head around the 25 million (was it more?) in stock paid to Paul’s engineering firm, ESG Engineering. Was that for the chassis and body design that Roush re-engineered or was it for the dubious engine that was arguably unnecessary and probably abandoned ?

IAV got the money for the engine. I think that ESG got the money for designing the Elgin dashboard.

 

[ecdriver711]

I've bought 2 used Prius' (or Prii?) for my wife and I. Love them and their ~50mpg average. I've pretty much given up on the Elio.

So you might want to try a Prius forum.

 

[Samalross]

Me too, plus I’ve been trying to get my head around the 25 million (was it more?) in stock paid to Paul’s engineering firm, ESG Engineering. I think it was issued when the stock price was fairly high, but my recollection is that it represented about a fifth of the total holdings at the time. Plus, Paul was drawing a $ 250,000 a year salary and there were some loans back and forth between EM, Stu, and Paul, as I recall.

Was that ~ 25 million to ESG for the chassis and body design that Roush re-engineered or was it for the dubious engine that was arguably unnecessary and probably abandoned ?

Didn't Mclaren do the chassis?