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Paul Elio To Update Plans For Autocycle Company Friday, May 11, 2018

Discussion in 'In The News' started by booboo, May 4, 2018.

  1. raptor213

    raptor213 Elio Addict

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    I felt compelled to look up what that dollar figure was that's needed to kickstart the 76-week-ish production timeline. It's quoted from the 2016 Year-End Annual Report 1-K, filed on May 2, 2017, as being $33 million. In other words, discounting the $2.5 million in fresh capital from Overstock last month, as far as official public statements can allege, Elio Motors must raise another $30.5 million BEFORE the 76-week-ish timeline countdown clock starts ticking. Even assuming that countdown clock starts, any funding shortfall beyond that initial $33 million to get the ball rolling will cause unspecified future delays.
     

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  2. Marshall

    Marshall Elio Addict

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    I sure hope you're right. But we've heard that song and dance before. So I'm hopeful, and expect future delays to extend the start date into 2020.
     
  3. mkiker2089

    mkiker2089 Elio Aficionado

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    Is it 30 million or 300 million? People are saying both.
     
  4. Elio Amazed

    Elio Amazed Elio Addict

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    $376M minus some unspecified projected supplier agreement savings is needed...
    To keep that clock running all the way to production as per Paul Elio on May 11th.
     
    Last edited: May 13, 2018
  5. RSchneider

    RSchneider Elio Addict

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    Both numbers are wrong.

    Please read this from the Elio Motors website. It's the best way to know what they need and not just guess. Just a hint, read page 5 and 6.
    https://ir.eliomotors.com/all-sec-filings/content/0001214659-17-005165/0001214659-17-005165.pdf

    Pat Byrne says $200M but we know that's wrong because he also said that Eliocoin buyers would skip ahead in the SIL line. As we found out, Pat was wrong. So, don't trust Pat but only trust what Paul says.
     
  6. Bookly

    Bookly Elio Aficionado

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    Your new $6,995 car will ship summer 2012.
     
  7. Tre'

    Tre' Elio Aficionado

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    I don't care if someone cuts to the front if it helps. I am just glad something is happening that we can actually see and hear about. The time waiting has given me more time to think more about the options and colors too. Not that that is a good thing, but as I have aged some my priorities have changed. Not sure if the tech has improved much for the car in that time, but it may have. I am still holding out hope it will happen...
     
  8. Rob Croson

    Rob Croson Elio Addict

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    IMO, none of these announcments change anything. The Elio is still in a holding pattern, with indefinite delivery date, until we see announcements that money is rolling in by the tens-to-hundreds of millions.
     
    RUCRAYZE and Elio Amazed like this.

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