Possible Scam?

[Coss]

Write EM? I would be calling them as soon as you can. This is a top importance item.
Did he say Chrysler, or did he say Chrysler/Fiat? Fiat does own all of Chrysler, that why they call it Chrysler II

Question, how much did you pledge in the 1A offering? You don't have to be exact; like over X but under Z or something like that.
Just trying to figure out why they would pick your name over others since not all of us have gotten this call.
If you're not comfortable telling us, that's fine, just trying to figure out what was the trigger point for them to pick up on.

 

[Elio Amazed]

Write EM? I would be calling them as soon as you can. This is a top importance item.
Did he say Chrysler, or did he say Chrysler/Fiat? Fiat does own all of Chrysler, that why they call it Chrysler II

Question, how much did you pledge in the 1A offering? You don't have to be exact; like over X but under Z or something like that.
Just trying to figure out why they would pick your name over others since not all of us have gotten this call.
If you're not comfortable telling us, that's fine, just trying to figure out what was the trigger point for them to pick up on.

I don't remember whether it was Chrysler or Chrysler/Fiat. It went pretty quick.
He mentioned someone's name, as in "XXX from Chrysler" as being the one who made the offer on the Cafe Credits.
I would image that however it was stated, it was probably stated correctly.
I would think that even if it is a scam, he's going to have his basic facts straight.

I didn't pledge enough to merit special attention by any means.

 

[Ty]

I'm going to ask them in person in about an hour. I'll get this wrapped up. For now, let's not spread this around much. Stop the rumor kind of thing. Okay?

 

[Elio Amazed]

Called Financial One at the number on the EM website and they (Financial One) seemed to think the call was legit.
I told the lady at Financial One about the call and she recognized the name "Patrick Nicholas" immediately.
She told me who Patrick Nicolas Teutonico worked for, but I didn't hear her clearly.
It could very well have been Omnipoint communications.

I then asked her if this person was indeed soliciting EM private placement investments.

She confirmed it.

It's still a strange way to open a pitch... "Paul Elio asked me to let you know what's going on" or something like that.

As always, never give sensitive information over the phone and only "buy" through proper official forms and/or via the Financial One site.

Thanks Ty. Have a blast.

 

[Rickb]

EM does not have CAFE Credits to sell any auto manufacturer and most likely never qualify for CAFE Credits as a high mpg three wheeler.

 

[Elio Amazed]

EM does not have CAFE Credits to sell any auto manufacturer and most likely never qualify for CAFE Credits as a high mpg three wheeler.

Yeah, I know that Rick.
But it doesn't necessarily make the call bogus.
When have these folks not embellished?

For all we know, Chrysler Fiat could have made an offer on EM Cafe Credits IF they ever happen.

The thing that really jolted me was the "IPO on NASDAC in four weeks" statement.

After all, that would place it around Halloween.
It does seem a little spooky to me.
We can only wait and see.

 

[JEBar]

Called Financial One at the number on the EM website and they (Financial One) seemed to think the call was legit.
I told the lady at Financial One about the call and she recognized the name "Patrick Nicolas" immediately.
She told me who Patrick Nicolas Teutonico worked for, but I didn't hear her clearly.
It could very well have been Omnipoint communications.

I then asked her if this person was indeed soliciting EM private placement investments.

She confirmed it.

It's still a strange way to open a pitch... "Paul Elio asked me to let you know what's going on" or something like that.

Still, never give sensative information over the phone and only "buy" through proper official forms and/or via the Financial One site.

Thanks Ty. Have a blast.

interesting .... very, very interesting

 

[Elio Amazed]

The guy's information is available on quite a few websites via google.

From a site called "Brightscope":
Nicholas Teutonico, Patrick Nicholas, Patrick Teutonico
Firm:
Network 1 Financial Securities Inc.
Type: Registered Representative
Description
Patrick Teutonico is a financial professional at Network 1 Financial Securities Inc., a broker-dealer with 82 registered representatives nationwide. Patrick has held an industry securities registration for 15 years and is subject to FINRA oversight.

From a site called "Credio":
Patrick Nicholas Teutonico is a broker employed by Network 1 Financial Securities in Freeport, New York with over 18 years of experience as a financial professional. Teutonico is licensed as a Broker-Dealer Registered Representative (RR) and is authorized to buy and sell securities on a client's behalf.

 

[Coss]

Sounding more legit each time.

 

[John Painter]

Got the call around 12:30 p.m. this afternoon.
Patrick Nicholas on behalf of Elio Motors. Same introduction. Called from one of the numbers mentioned and asked for a call-back at that same number.
Same voice answered immediately when I called back an hour later.

Said some shocking things.

Bottom line was that he was looking to give accredited investors a 50% discount on owning Elio stock.
Asked three simple questions to see if I qualified. Basically they were, "How much, How much and How much..."
Of course, he then told me that I wasn't qualified for the offer.

The shocking things? Wow are you gonna love this.

Said that PE and EM have been invited to do, and have decided on doing, an IPO on the Nasdac 4 WEEKS FROM NOW!
And said that Chrysler has offered to buy EM's Cafe Credits at the tune of $300,000,000 a year.
Also said that the time schedule now was looking at starting production in 2Q 2016 (most likely June or July).
He said that he (they) henceforth would be the only laison concerning investments until the IPO.
He mentioned the fact that Tesla had was losing money but their stock has done nothing but gone up.
Overall, it was a pretty quick, but good, sales pitch meant for qualified investors.

When he told me that unfortunately I didn't qualify for the 50% offer...
He said to still call him to buy EM stock after the IPO is announced/launched.

What was significant about this was he didn't mention a word about the 1A offering.
I didn't have the presence of mind to ask about it while I had him on the phone.
I got the impression that EM may skip the 1A and and IPO on Nasdac without it.

Of course on the other hand, if he's only involved in the private placement and not the 1A...
And he's (logically) also a general broker for profit...

Why would he mention the 1A when mentioning it might cost him commissions after the IPO.

If this information is true, the 1A offering should take place very soon or not at all.

So, there it is.

WTF?

An IPO doesn't make sense, though listing on NASDAC does since that's where private placements would be listed. Are you sure you heard IPO - Initial Public Offering?

PE has said publically he would only consider going public as a very last option. I don't see the success of the current water testing for private placement as indication of being near the last option.

I agree Tesla stock is great despite having pathetic revenue from sales. Though I do believe Tesla just had their first "profitable" quarter, production is way off.