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Paul's Latest Press Release, Raising Funding

Drag0n

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August 3, 2017


Elio Motors Inc. Files Registration Statement for Proposed Public Offering

Elio Motors Seeks to Raise $100 Million

Company Intends to list on the NASDAQ Global Market

PHOENIX, August 3, 2017 – Elio Motors, Inc. (OTC QX: ELIO), a startup vehicle manufacturer planning to launch a three-wheeled vehicle, with a targeted base price of $7,450, that will get up to 84 mpg, today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Elio Motors intends to list its common stock on the NASDAQ Global Market under the ticker symbol "ELIO."

Drexel Hamilton LLC will serve as lead manager in the offering.

The proposed offering will be made only by means of a prospectus. A copy of the preliminary prospectus, when available, may be obtained from Drexel Hamilton LLC, 77 Water Street, New York, NY 10005, Attention: Eda Kouch, Telephone: 212-632-0404, Email: ekouch@drexelhamilton.com.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.



About Elio Motors

Founded by car enthusiast Paul Elio in 2009, Elio Motors Inc. represents a revolutionary approach to manufacturing an ultra-high-mileage vehicle. The three-wheel Elio is engineered to attain a highway mileage rating of up to 84 mpg, while providing the comfort of amenities such as power windows, power door lock, air conditioning and cruise control, accompanied by the safety of multiple air bags and an aerodynamic, enclosed vehicle body. Elio's first manufacturing site will be in Shreveport, Louisiana.



This press release contains forward-looking statements, including statements about the proposed offering. Actual results may differ materially from those indicated by these forward-looking statements as a result of a variety of risk factors and uncertainties discussed in documents filed by Elio Motors with the SEC. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.



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Samalross

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People think that getting into Nasdaq is a sure thing. They will do due diligence. Looking at Elios Facebook page saying that they are targeting 2018, when their SEC filing stated that they need 72 weeks from date of receiving money to start production will not go over well.
 

booboo

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People think that getting into Nasdaq is a sure thing. They will do due diligence. Looking at Elios Facebook page saying that they are targeting 2018, when their SEC filing stated that they need 72 weeks from date of receiving money to start production will not go over well.
LMAO, the NASDAQ has listed other companies a lot less promising than ELIO, but you are absolutely correct that it is not a sure thing.

" In connection with this offering we have applied to have our Common Stock listed on the NASDAQ Global Market (the “NASDAQ”) under the symbol “ELIO.” Although we believe we will satisfy NASDAQ listing requirements, no assurance can be given that such listing will be achieved in a timely manner or at all."
https://www.sec.gov/Archives/edgar/data/1531266/000156761917001564/s001747x1_s1.htm
 

Bookly

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I see this as a strong positive am I wrong? Does this mean Paul Elio get a negative response or decided to go for broke selling stock?
Many will see it as a positive because it's "something." And "something" beats announcing another paint vendor. It does suggest that no other funding option was showing any sign of success.

Announcing selling stock and doing it are two separate activities. Outside of the enthusiasts on this board, Elio has a tough pitch to explain why this is a good investment. They still wouldn't have even half of the $$$ they say they need to start. The design is getting dated.

It will be interesting to watch.
 

Donnyboy

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I think it's a positive development. It tells me they are getting serious about raising the capital needed to produce cars. Fact is right now they are listed on the OTC Pink sheets and most investors don't trust anything on the pink sheets. And for good reasons. The list of scams and con artists on the Pink Sheets is endless. But small start ups like Elio pretty much have no choice but to start there. Getting off the Pink Sheets would be great. Seems to me they should be able to find some large investors to step up and buy stock. A few reasons why:

Elio got over 65,000 people to reserve a car when at most all they got to do was sit in one at a mall or other event. Others just saw it online and signed up. That tells me they discovered an untapped need in the market.
Elio's research found something like 95% of people polled had never heard of Elio. So they've done quite well being practically unknown to most people.
And the idea of an "and" vehicle is genius. Consumers have needed this for a long time.
 

BADBOY

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wouldn't it be good idea to combine this thread and the other one?
Many will see it as a positive because it's "something." And "something" beats announcing another paint vendor. It does suggest that no other funding option was showing any sign of success.

Announcing selling stock and doing it are two separate activities. Outside of the enthusiasts on this board, Elio has a tough pitch to explain why this is a good investment. They still wouldn't have even half of the $$$ they say they need to start. The design is getting dated.

It will be interesting to watch.
IMO my cars don't become outdated..don't think I've ever owned became boring. If stocks are finally offered, that would be a good time for folks on this MB to "sell" others on buying stock.
 

BADBOY

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I think it's a positive development. It tells me they are getting serious about raising the capital needed to produce cars. Fact is right now they are listed on the OTC Pink sheets and most investors don't trust anything on the pink sheets. And for good reasons. The list of scams and con artists on the Pink Sheets is endless. But small start ups like Elio pretty much have no choice but to start there. Getting off the Pink Sheets would be great. Seems to me they should be able to find some large investors to step up and buy stock. A few reasons why:

Elio got over 65,000 people to reserve a car when at most all they got to do was sit in one at a mall or other event. Others just saw it online and signed up. That tells me they discovered an untapped need in the market.
Elio's research found something like 95% of people polled had never heard of Elio. So they've done quite well being practically unknown to most people.
And the idea of an "and" vehicle is genius. Consumers have needed this for a long time.
With all forms of communication Elio should be doing better job getting info to public. Reminds me of my neighbor known as NASA.
 

stts

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Yea, this is certainly a good thing. Its an announcement by the startup company that they are willing to sell a portion of their stock ownership. But it remains to be seen if anybody takes them up on their offer. Pricing of shares has to be set. Its too bad that their broker figures the most they could get is $100Million. Thats not the best news, but it would be more funding if they actually can sell $100Million worth. But I did notice they say they picked this price to establish the brokers fee. So the actual sale could be bigger. If it were going to be smaller, I dont think the broker would bother with this. But for sure this is a sign that Elio is continuing to do his job. He is working more potential funding avenues. And thats a good thing for those that are interested in buying this car. But expect price action on the OTC shares to be volatile. Its not good or bad, it just happens. NASDAQ shares will dilute the OTC ones, thats bad, a great turn out on NASDAQ shares would make the OTC ones shoot up. Thats good. Share sale pricing will move the OTC stock. But the bottom line is that if you own shares and Elio fails, you lose your money. If you own shares and production starts, you just might be a bit richer. I doubt there will be an announcement that they already found supplemental funding or they would be floating a much larger sale offering based on a much higher potential sales price. Serious car production takes serious cash. They really need all that they can get their hands on. And I dont really fret that they keep extending out their production dates. Thats what happens when you dont get all the funding you need. Production will start when they have the money to start and not before.
 
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