The Aftermath

[KenK]

That fat lady hasn't quite sung just yet (July 31st!), but I believe she's about to take the stage.

Was this simply the case of a niche product that didn't have enough support to materialize? Should or could $140 million have been enough to get a product to market? What role did politics really play? Was there something in the shadows that actively fought against the Elio? What does this say about the next guy's chance at becoming another Ford or Tesla?

 

[Ty]

As a last-ditch effort, Paul will yield a chunk of the company for funding. It won't even be that big of a deal to Paul by then. He'll finally be able to get things moving and will be able to take more of a CEO stance than a start-up entrepreneur. And, we'll get our Elios albeit a little later than we wanted...

 

[RUCRAYZE]

As a last-ditch effort, Paul will yield a chunk of the company for funding. It won't even be that big of a deal to Paul by then. He'll finally be able to get things moving and will be able to take more of a CEO stance than a start-up entrepreneur. And, we'll get our Elios albeit a little later than we wanted...

From your mouth to G_d's ears

 

[Elio Amazed]

That fat lady hasn't quite sung just yet (July 31st!), but I believe she's about to take the stage.

Was this simply the case of a niche product that didn't have enough support to materialize? Should or could $140 million have been enough to get a product to market? What role did politics really play? Was there something in the shadows that actively fought against the Elio? What does this say about the next guy's chance at becoming another Ford or Tesla?

Ken, what's the significance of July 31st? Is that the next SEC filing due date?

BTW... Don't forget to put your pin on the map.

 

[raptor213]

Ken, what's the significance of July 31st?

I had thought there were two milestone dates quickly approaching:

7/17/17: extrapolated backwards from December 31, 2018, this is when the initial $33 million quoted as being necessary to kickstart and resume the stated 76-week time-to-production timeline would need to have been received by in order for Elio Motors to make good on its most recent estimate of having final production Elio vehicles rolling off the assembly line in the year 2018. Otherwise, we'd have no choice but to acknowledge that 2019 would be the soonest they'd enter final production.

7/31/17: referenced in their latest SEC filings, this date coincides with the deadline by which Elio Motors is to bring its past-due balance with RACER Trust current and be financially prepared to resume regular monthly installments on their note, on the condition that Elio Motors has secured at least $25 million from offerings of its equities/debts by that time.

There are exact quotes concerning the specifics of that convoluted financial forbearance arrangement. I may not be explaining it perfectly.

One key aspect is that should the conditions not be met yet again, and a restructuring of the payment plan yet again be made necessary, Elio Motors could simply be found to have defaulted on the note, leaving much of the vital equipment in Shreveport at stake as that's what had collaterized the note in the first place.

New date of significance:

9/08/17: 60-day window ends for securing both manufacturer and dealer licenses from Louisiana State Motor Vehicle Commission. Otherwise, Elio Motors faces potential $5,000/day fine for non-compliance in addition to the $450,000 in total fines levied against them by the Commission this week.

 

[Frim]

 

[RUCRAYZE]

music to, or covering your ears??

 

[3wheelin]

That fat lady hasn't quite sung just yet (July 31st!), but I believe she's about to take the stage.

Was this simply the case of a niche product that didn't have enough support to materialize? Should or could $140 million have been enough to get a product to market? What role did politics really play? Was there something in the shadows that actively fought against the Elio? What does this say about the next guy's chance at becoming another Ford or Tesla?

Taking on and starting a project so big in scope and no money to back it up is pretty much a recipe for disaster. I wish I could say otherwise but to me it's just that simple. Believing on a product is one thing, supporting it (funding) all the way to production is another because IMHO it'll take a while to recoup their initial investment with the measly price of the ELIO in an untested market. the 65K + reservations even if they all bought one won't make a dent on the overall expenditures EM would have spent to get to production. Just my honest opinion.

 

[KenK]

Ken, what's the significance of July 31st? Is that the next SEC filing due date?

BTW... Don't forget to put your pin on the map.

How have you missed this thread?
https://www.elioowners.com/threads/july-31st-2017-tick-tock.8417/

Pretty much what Raptor213 said. Not sure I fully understand the wording of the SEC filing, but I put it in the thread verbatim (but maybe out of context!).

 

[Elio Amazed]

How have you missed this thread?
https://www.elioowners.com/threads/july-31st-2017-tick-tock.8417/

Pretty much what Raptor213 said. Not sure I fully understand the wording of the SEC filing, but I put it in the thread verbatim (but maybe out of context!).

Oh, that. Well, I just figured that Elio would somehow dodge and put off paying the $173,500 per month.
And that they'd just accumulate that and the 18% like they do everything else.