January 15, 2015 Delay And Delay Repercussions Discussion - All Others Will Be Combined!

[Richad]

I'm also all in for the max and not happy. My son in NY is in business to bring companies public and I had him check on the company Paul mentioned who will be raising money and he said they are a legitimate company so I guess thats good. He also mentioned that if all of us who have money on the line signed a promisary note Elio can go to any major bank and get major funding. This note will mean nothing to us if the Elio is not produced but if it is we will be on the hook. He said this could work well as a last resort.

 

[Hotscoots]

He also mentioned that if all of us who have money on the line signed a promisary note Elio can go to any major bank and get major funding. This note will mean nothing to us if the Elio is not produced but if it is we will be on the hook. He said this could work well as a last resort.

Promissory note? Interesting idea . A pledge to purchase a vehicle at stated price eliminating the clause that states that "we" are under no obligation to buy .
I read recently that a man with too much money donated $25 million to keep Artificial Intelligence from turning evil .
One would think that Paul could tap a few trust fund billionaires with more cash than sense to loan him $200 million .

http://www.wired.com/2015/01/elon-musk-ai-safety/

 

[Rickb]

Promissory note? Interesting idea . A pledge to purchase a vehicle at stated price eliminating the clause that states that "we" are under no obligation to buy .
I read recently that a man with too much money donated $25 million to keep Artificial Intelligence from turning evil .
One would think that Paul could tap a few trust fund billionaires with more cash than sense to loan him $200 million .

http://www.wired.com/2015/01/elon-musk-ai-safety/

That is an idea, but most trust fund billionaires are 1% ers that made their money in the oil and automobile industry so Elio doesn't seem a good matchup to their interests.

Comforting to know Elon Musk is watching out for us. I think AI may have more common sense that human intelligence and that makes no sense whatsoever.

 

[cortsdad2]

This will cheer you up a little bit. In today's blog, EM states that the surplus inventory now on sale is worth $17 million dollars. They also state that it represents only 15% of the total surplus inventory that they can sell. Assuming the value of the stuff is evenly divided (a large assumption), that puts the total value of the surplus inventory at $113 million. That will go a loooong way towards filling the gap needed to reach production.

I have to wonder how saleable all that equipment is though...

 

[Richad]

I don't know how many companies are in the market for the surplus equipment. I guess we need to hope for the better. I think making Elio a public company instead of keeping it private could raise massive amounts of money but thats not my area of knowledge. As they say " just saying"

 

[Smitty901]

I don't know how many companies are in the market for the surplus equipment. I guess we need to hope for the better. I think making Elio a public company instead of keeping it private could raise massive amounts of money but thats not my area of knowledge. As they say " just saying"

Going public would add huge costs, money ELIO clearly does not have. It also would require making a lot more financial information Public.

 

[eddie66]

http://www.shreveporttimes.com/stor...01/16/production-wheel-elio-delayed/21849385/

 

[Darrellh]

I wonder if Paul originally had commitment from his investors, but had one pull out?

 

[Rickb]

Seems a company should have a proven product before going public. The general public isn't interested in gambling on a new start up company.....are we?............oh wait yes we have. Nevermind.

 

[Rickb]

I wonder if Paul originally had commitment from his investors, but had one pull out?

Welcome Darrellh! That is an interesting possibility. He was no doubt certain the funding was there, but something didn't pan out.......an investor backing out on a verbal commitment, no buyers and/or interest in the used equipment, slow loan approval process, could be a number of scenarios, but not a good situation.