Less Than $7,600, No Sooner Than 4th Qtr 2016

[Ekh]

Awesome, another delay. I am in it for the long haul. But that is disappointing news for sure.

You can't really be surprised. Realistically, there's no way they could get everything done in nine months, even if they had buckets and buckets of moolah. Personally, I think 12/2016 is a stretch goal, and I'm personally worried I'll drop dead before I see my friggin' Elio. Certainly, I don't think I can live with my decaying Forester much longer -- it is getting ready for a new mill, I fear. MPG is now 22.5 AT BEST, down from about 26 -27, and nobody can find out what's wrong.

 

[Ekh]

PE clearly states IMO that he still wants to bring it in for $6800 and before the 4th quarter of 2016.

Trouble is, EM was officially (and emphatically) saying as late as last week "mid-2016, nothing's changed." So here the wish-for date is 4th quarter 2016, which means December. EM does this over and over, clinging to something that's pretty clearly nonsense until force majeur (overwhelming force) pushes them to fess up. Force majeur in this case being the disclosures in the SEC filing.

EM keeps claiming they're transparent, but their windshield certainly frosts up a bit when it comes to handling bad news. I just wish they'd released their financials a whole lot earlier. Now that they have done so, I applaud their candor and their honesty about the risk factors. I'm happy when they present all the relevant facts IN CONTEXT, which they have done with the SEC filing. They should have similarly candid statements (if not the full financials) every quarter. That would keep them out of the late-and-nasty surprises that piss everybody off.

 

[AJ Maxey]

I'm not surprised honestly. Time to bust out the supplies and make the aerodynamic modification on the Saturn (skirts, body pan, gap fillers). I'm hoping to hit 50mpg when summer doesn't require me to use AC anymore.

 

[Rickb]

I expected a 2017 production schedule to be more realistic all along, but now I'm pissed off again. I think the candor and honesty should have happened immediately following the 2015 production delay announcement which pissed off so many future owners, rather than as a result of the SEC filing in the process of asking for even more financial committment from those same future owners.

Imagine the surprise and disappointment if EM delays the P5 Build scheduled to unveil in a few short weeks.

 

[pistonboy]

I live in the Mohave desert of southern California. None of my cars have AC. I was counting on the Elio providing that next summer. I don't know if I will even have it for the summer of 2017.

 

[pistonboy]

In the Consumer Electronics Show of Las Vegas, Paul Elio was still saying the production date was 2015 on camera (you tube) while the reporters were saying at the same time, a date of 2016. Perhaps the reporters got the 2016 date from some of the EM employees who didn't care for lying.

 

[pistonboy]

http://pdf.secdatabase.com/1407/0001214659-15-006359.pdf


Page 26: Paul Elio was paid $250,000 last fiscal year.

Page 27 is interesting too.

 

[W. WIllie]

Just checked your link. I see no mention of that amount on those pages.
From what I have read, Paul Elio took a "Draw" of 74K+. Can't remember what page it was on.

Willie

 

[TeamCoconutOreo]

I was happy to read both the email and the SEC filing today. I'm glad that they are working hard to get the capitol needed to get this car on the road. From reading the comments it is clear that many people can't grasp how difficult of an undertaking launching this car is. Remember, they are starting from scratch.
I also read someone say that you can't believe anything Paul says. I've been closely following Elio Motors for at least two full years now. The entire time, I have been aware that delays were not only possible, but expected, the car went from looking like a garage made kit to something more production like, and that the price point was a goal, but it may not be accomplished. The MPG has also been a reachable goal, but Paul has admittedly said that they will come close but may not make it. I typically dedicate 20 to 30 minutes a week to Elio research and boards, I've known this since before I put one dollar in the company.

If you didn't, you can't blame anyone but yourself. Come 2018 if the company goes bust (or any other time) and I loose money, you will not see me here or anywhere else complaining. I risked my money on a start up company, to expect anything else would be uninformed. If you made a financial decision with out be informed you shouldn't come on a board and tell every one about your uneducated choice, you should probably keep that to yourself.

 

[Rickb]

Just checked your link. I see no mention of that amount on those pages.
From what I have read, Paul Elio took a "Draw" of 74K+. Can't remember what page it was on.

Willie