Overstock.com Is Attempting To Exit Their Retail Business...

[ElioWallSteet]

The latest Elio news is pure financial manipulation...it has nothing to do with vehicle development or production...

A $2.5 million lifeline to Elio motors is basically insignificant... it’s a short term financial play to capitalize on the volatility of digital currency‘s...the principles might to well...but it’s likely the small investors will lose the majority of their money...

I would suggest everyone do their due diligence with regards to Overstock.com

Here’s a few recent highlights...

Overstock reported a 13 percent drop in fourth quarter revenue to $456.3 million, and a 3 percent decrease in sales for full-year 2017 to $1.745 billion.

Their stock briefly fell more than 16 percent but closed about 5.2 percent lower.

The company gave no significant update on a potential sale of its retail arm to focus on its cryptocurrency-related business.

Yes...Overstock .com is attempting to divest it’s retail business...

It’s also important to remember...digital currency‘s are an alternative banking platform...and are subject to very few regulations...they’re a very risky asset class...the majority of them have no real value...

 

[gottemfeathers]

The latest Elio news is pure financial manipulation...it has nothing to do with vehicle development or production...

How can you possibly know that? Sounds like pure speculation to me.

 

[booboo]

The latest Elio news is pure financial manipulation...it has nothing to do with vehicle development or production...

A $2.5 million lifeline to Elio motors is basically insignificant... it’s a short term financial play capitalize on the volatility of digital currency‘s...the principles will do well...but it’s likely the small investors will lose all their money...

I would suggest everyone do their due diligence with regards to Overstock.com

Here’s a few recent highlights...

Overstock reported a 13 percent drop in fourth quarter revenue to $456.3 million, and a 3 percent decrease in sales for full-year 2017 to $1.745 billion.

Their stock briefly fell more than 16 percent but closed about 5.2 percent lower.

The company gave no significant update on a potential sale of its retail arm to focus on its cryptocurrency-related business.

Yes...Overstock .com is attempting to divest it’s retail business...

It’s also important to remember...digital currency‘s are an alternative banking platform...and are subject to very few regulations...they’re a very risky asset class...the majority of them have no real value...

If you know Patrick Byrne, I think you know one wild and crazy guy.
I personally never paid any attention to him until yeterday.
http://www.businessinsider.com/bitc...ns-long-standing-crypto-play-ravencoin-2018-2

P.S. Elio Coin is not going to be a digital currency.

 

[Watashiwah]

If you know Patrick Byrne, I think you know one wild and crazy guy.
I personally never paid any attention to him until yeterday.
http://www.businessinsider.com/bitc...ns-long-standing-crypto-play-ravencoin-2018-2

P.S. Elio Coin is not going to be a digital currency.

I agree Booboo, it seems Mr Byrne is no great fan of Wall Street and has an almost philosophical motive. In the big picture 2.5 million bucks to buy bargain priced stock even in a problematic venture isn’t much more than a statement. 2.5 million divided by, say 400 million is merely 6 tenths of one percent of the money Elio ultimately needs. This whole discounting and watering down of the stock, too, just doesn’t pass the smell test, anyhow. This may be more an experiment for Overstock.com than anything to do with really putting a vehicle on the road.

He is one interesting guy, alright.

It’s also ‘philosophically’ fortuitous for Hari and Paul: at ‘the end of the day’ they can say, ‘we tried everything to get funding Your Honor, we even tried to make our own money.’

Re: ‘speculation’. With all due respect Gottemfeathers, literally everything, on both sides of the equation, is speculation. With the long absence of anything concrete and the disappearance of Paul and all Principals, what is not speculation?

 

[BADBOY]

I don't see what Overstock is getting from this? Small amount of money for them but still a lot on what now appears to be dead "company".

 

[Elio Amazed]

I don't see what Overstock is getting from this? Small amount of money for them but still a lot on what now appears to be dead "company".

I'm thinking that a good portion of that $2.5M is going to go right back to Overstock's subsidiary.
In payment for launching Eliocoin and hosting it on their blockchain system.
Any increase in the $ of Elio stock would be gravy on top.
So for Overstock... Win Win Win.
No matter what.

For EM... Basically a barter for a last ditch chance to raise more funds.

Are we hoping for value by association in this?
IMO, mystery sure isn't creating any value.
You gotta love the transparency.

However this goes, it's gotten pretty interesting.
If I somehow get a fuel efficient trike for my $5350 balance before taxes & fees...

So be it.

 

[Johnny Acree]

I'll just put this here. https://www.cnbc.com/2018/04/27/the...e-with-cryptocurrency-overstock-ceo-says.html
CNBC story on Elio / Overstock

 

[webartist]

$2.5 M is not much money and they say it would be used to also retire some debt (which I have certainly lost track of by now). What I don't understand is why Elio Motors would not use he money to get the ~ 80% engineered auto-cycle to final production status. They need a finished product. I would think the production options and funding could be reworked in may ways, as with low volume production as Arcimoto is doing. I would think one or more investors would be much more willing to invest in a production ready version of the Elio. I am just so amazed how the other trike makers can get to production status for far less money then Elio has already spent.

 

[Elio Amazed]

$2.5 M is not much money and they say it would be used to also retire some debt (which I have certainly lost track of by now). What I don't understand is why Elio Motors would not use he money to get the ~ 80% engineered auto-cycle to final production status. They need a finished product. I would think the production options and funding could be reworked in may ways, as with low volume production as Arcimoto is doing. I would think one or more investors would be much more willing to invest in a production ready version of the Elio. I am just so amazed how the other trike makers can get to production status for far less money then Elio has already spent.

Ironically, for a company dedicated to helping with the environment...
They seem to have a hard time grasping the concept of finite resources.

 

[RSchneider]

Looks like Overstock is already chipping away at the amount needed to get the Elio to production:

Byrne hinted Overstock could sell Elio’s first car, a move which would help the startup save a substantial amount of money by bypassing the traditional brick-and-mortar dealership model. The company would presumably sell its cars online

https://www.digitaltrends.com/cars/elio-motors-receives-overstock-investment-plans-cryptocurrency/