BADBOY
Elio Addict
ah thanks for clarification as I did think $60 was to be used going forward.I believe just about everyone would love to see the government loan come through as that would pretty much solve EM's funding issues in one swoop and everything would push forward as fast as possible towards production. Hopefully we do get good news on this front relatively soon.
Just to clarify EM does not have $60m on hand that is just what they have raised, and mostly used, to get the project to this point. They have several million dollars on hand however this is only enough to keep operating the company and tour however everything else needs to be slowed or halted as they do not want to burn through it too quickly.
The way it was explained at the town hall is that the tight spot EM is in now is pretty much directly caused by it taking longer to get the old equipment on the market and sold than they expected as that money is what their plan called for them to be using to complete the engine and vehicle development program and finance operations ahead of production.