Reservations: 65341 As Of 6/20/2017

[Coss]

I'm sorry, but I've done this. Lawyers guide a Chief Executive, they are not the decision maker.

Would a lawyer suggest against announcing a production date that is unlikely to be met? Yes. Of course.
Would a lawyer suggest against announcing car show attendance? No.
Would a lawyer suggest against announcing funding "talks"? Very possibly. Talks are not not a done deal, and may be perceived as an announcement of one by some potential investors.

At this late stage in the game, the only real announcement that will move the dial is announcing funding. As in a done deal.

Where did you get your law degree from?

 

[Bookly]

Where did you get your law degree from?

The law degrees are for lawyers, who worked for me. The Chief Executive makes the final decision.

If you'd like to think that mean lawyers are stopping Elio from telling the world about real good news, enjoy that if it makes you feel better. It just isn't how this works.

 

[Coss]

The law degrees are for lawyers, who worked for me. The Chief Executive makes the final decision.

If you'd like to think that mean lawyers are stopping Elio from telling the world about real good news, enjoy that if it makes you feel better. It just isn't how this works.

Nope, I have been told by people inside EM, that's what it is. That is not guessing, that is truth from an EM employee.

 

[Coss]

The law degrees are for lawyers, who worked for me. The Chief Executive makes the final decision.

If you'd like to think that mean lawyers are stopping Elio from telling the world about real good news, enjoy that if it makes you feel better. It just isn't how this works.

Oh, you were a CEO? What company?

 

[Husker1]

Looks like someone is getting the rubber glove treatment.

 

[Coss]

Looks like someone is getting the rubber glove treatment.

Nope, just curious.

 

[wizard of ahs]

Hey gang.............how about those reservations...............

 

[Jambe]

Maybe the YEAR could be changed in the subject?

 

[Bookly]

Nope, I have been told by people inside EM, that's what it is. That is not guessing, that is truth from an EM employee.

I won't be asking you to name them. If you've heard that legal is counseling on restricting information, that makes sense.
If you're implying they are restricting information on a real funding deal (done deal, not a "discussion") that raises so many red flags.

I don't have any inside information (as you apparently do). I'm just parsing the available information, which includes recent press releases touting such mild information as attending a car show and choosing a paint vendor. I've done PR about "nothing" before (sometimes you have to), and a press release about a paint vendor means you ain't got much to shout about. The company has stopped doing events. The most recent financial release indicated an empty bank account, which spawned much negative news coverage.

If Elio Motors has actual funding, they are compelled to inform stock holders. Many stock holders have recently sold at around $8, because based on current info they feared a price heading south to pennies. If something real exists, stockholders would have a right for it to be promptly disclosed. I've been counseled on both ends of disclosure: Legal problems don't just arise from being too optimistic, they can also arise from withholding significantly positive information from investors.

So, yes, I rather doubt there is a done funding deal. I will add this - I will be delighted if Coss is right.

 

[AriLea]

In this funding area we've always gone along on faith quite a bit, mostly on faith in fact.

In our case we've looked at the people involved and relied on the idea that they only lend their resume's because it has a good chance of being funded. In many other business cases the resume IS the second reason they got investment.

In other words it's a black box that we can not crack open. And there are plenty of good reasons for EM to not crack it open for us.

Anyway, EM already has my money and yours. I knew the risk. I'm happy with the level of faith, time and unknowable's required.

I do recognize I'm not your average EM customer. I almost feel like Em is doing my bidding. I started my car because I wanted to demo several things;
1) A car like this could be super efficient as a safe daily commuter.
2) In a volume product it could be super inexpensive
3) the car would benefit both the buyer and the public by it's existence.
4) There would be plenty of people who like and would buy it.
5) There is a viable business in doing this.

EM has proven all these items above, but alas, there is one more..
6) Adequate Investment can be obtained.

Still waiting on that one.