More Comments From Patrick Byrne Regarding Sto’s...(eliocoin)...

[Made in USA]

I would be interested in how the one-in-eight being pulled was determined. Just a math question really. Would one-in-ten not provide enough "extra" cash? Would one-in-five be too excessive for the current SIL's to tolerate? The number had to come from somewhere. Perhaps it's Byrne's favorite number?

Wonder when Elio and Burne will be on the same page. Maybe the one-in-eight won't start until after the current SIL's are first produced?
While I appreciate Paul finally making a public appearance, he still isn't saying anything.

Oh well, it is somewhat entertaining.

 

[Rob Croson]

This is kind of an interesting basic article on STOs:
https://blog.polymath.network/what-is-a-security-token-offering-sto-4e5a92bf6bca

It claims that STOs are basically like stock, except that you don't get any of the privileges of stock ownership. It allows you to invest in the company without buying real stock. Does it therefore allow people to invest in the company, without the company having to give up ownership and control of the company itself? The secured token is backed by the company's assets, but does not confer ownership of a piece of the company?

Really, I'm not seeing any benefit to the investor in buying STOs over buying stocks.

I read this article on medium.com:
https://medium.com/@apompliano/the-official-guide-to-tokenized-securities-44e8342bb24f

Interesting, but sounds mostly like anti-bank rhetoric.

 

[ecdriver711]

I don' mind waiting in line a little longer if I see Elios coming off the line.

 

[Made in USA]

Here's an idea: They should action off the final prototypes before production starts. They don't have a SIL issue and also no price determined. Perhaps Jay Leno or some other rich collector would want to buy a prototype. Not sure about the registration issues, but I know it can be done. Twenty five to fifty prototypes to work the bugs out before production?

 

[LillyMayPatterson #1685 & #5648]

That wouldn't fly Made in USA. None of the prototypes are road worthy. I figure they will go in 'the' museum. None of the vehicles will have SIL numbers that match their place on the assembly line neither. They will get their VIN when they come off the line, but not their SIL. (Think; screw ups) I am happy about the auctioning every eighth elio. Just a bit more testing before mine is made. These are exciting times.

 

[RSchneider]

Legally you can't sell the e series prototypes in this day of age. They will be destroyed. The last company that I knew which sold their e-series prototypes was Porsche. They would take a few that were practically production ready, stamp in a Porsche Motorsport VIN and sell it to a racer who would convert it into a racecar. Even that came to a halt about 5 years ago. In the end, there are too many legal implications and lessons learned from the past. This is why the lowest VIN cars will be worth a fortune because that's what collectors want. There's a collector in New York that I met last year who literally buys the lowest VIN Fords he can find and ends up being on the special Ford list when they come out with a new performance Ford product, he get's first dibs. Needless to say, he has lots of various Mustangs with single digit and even two Ford GT #2's for the one built in the 2000's and the brand new one. Even he can't get a prototype of anything past 1995.

 

[Thomas Malkin]

I like the Elio Vehicle concept...great alternative to a motorcycle...or Can-Am Spyder!

But...I have serious reservations that Paul Elio has the leadership abilities to complete the Elio project...after a decade of design & engineering work...it’s hard to comprehend why there’s not a single production ready prototype...

My best guess...Patrick Byrne will leave Paul Elio standing at alter...

History has a habit of repeating itself...

Seriously. They needed, and expected, the ATVM loan. So did Aptera, Carbon Motors, and many others. No one got one after 2010.

As for Paul's abilities, the sheer tenacity and committment to hold on so long in the face of such adversity shows me if he has the cash, he will drag those finished autocars out of Shreveport on his own back, if that what it takes. He's lost his wife, his money, and were I him I'd have lost my mind. But, there he stands, throwing the ball one more time. Please stop disparaging any of these companies that the ATVM people hosed for eight long years. It's not about personal failure, but an astounding failure of the ATVM loan board, which thinks it is somehow not supposed to take a chance. The loans were all about giving weird but workable ideas a chance.

 

[RUCRAYZE]

I don' mind waiting in line a little longer if I see Elios coming off the line.

My thoughts exactly, for me it's been four years of "a little longer"., and for many others, even longer than "a little longer" :-)

 

[mkiker2089]

As for selling a prototype, it can and does happen. They aren't road legal and they may go as far and disable the engine (unlikely) but people like Jay Leno have a way of getting past lawyers.

Beyond that it's all been said.

 

[ElioWallSteet]

Seriously. They needed, and expected, the ATVM loan. So did Aptera, Carbon Motors, and many others.

The ATVM based their decision after extensively reviewing Elio’s business plan...and their ability to repay the loan...

None of us on this forum will ever be privy to the financial information Elio presented to the ATVM...

Bottom line...it would be very hard to second guess the ATVM decision without scrutinizing Elio’s application...and Elio’s paperwork will never be public domain...