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According to the link, it appears more like 4,444 down from 120,206 at end of last year. Least its not 6,666.The current SEC filing indicates they only have about 40K in liquid cash...
More from the S-1 filing: https://www.sec.gov/Archives/edgar/data/1531266/000156761917001564/s001747x1_s1.htm
"As described in this prospectus, we are continuing to make progress with respect to the Elio’s development, despite the lack of sufficient cash, due to (1) public support and acceptance of the Elio, as evidenced by the successful crowdfunded Regulation A offering and reservation deposits, and (2) the commitment of persons closely connected to the Company, such as Stuart Lichter. Subsequent to year-end 2016, Mr. Lichter converted over $8.5 million of loans and accrued interest into shares of Common Stock, extended the maturity dates of other loans to July 2018 and January 2019, and purchased 100,335 shares of Common Stock for $600,000. He also controls CH Capital Lending and Shreveport Business Park, which have extended and/or deferred payment terms and waived fees."
Stuart basically said you owe me $8.5 million in loans and interest but I'll trade that for shares of your common stock. And then goes and buys 100,335 shares of common stock spending $600,000 from his own piggy bank. I can't find any other way to interpret that other than to believe that Stuart thinks Elio is going to make it to production and he'll make a killing on his investment.
I'm thinking that if Stu thought it was hopeless, he would not have invested another $600,000. Even for him, that's not chump change. He must have been presented with a convincing "way to make it work" or he is actively involved in helping to get financing. With over $9 million in stock, he has a lot of incentive to get Elio into production. Given his additional financial backing, likely he is being driven more by greed than fear.Hopefully, it's not a case of Stu thinking that if he doesn't rescue Elio, he'll lose all the money he has already invested. I wouldn't complain if someone came in and bought a majority share and got this train moving.