RSchneider
Elio Addict
Elio did pay off IAV. It's in one of the SEC filings. It was around $1.3M In the end, IAV stopped work due to being owed money. That happens in the real world. Thus, the engine (I am betting) was not complete or production ready. Thus Elio went with the mystery engine that nobody knows about. Sounds like to me, a way to get web traffic and that's all.
Elio raised just over $110M and spent $36M on R&D for the product. The rest went to everything else. Non refundable were just north of $26M and just south of 1.8M were the refundable (which are in escrow). Only $16M were raised from the IPO. The rest came from other investors. So that means, $42M was raised from the general public through non refundables and the IPO. The rest was raised by other investors and most likely, dilution of the stock. Let's us not forget, in total, Elio needed over $600M to complete his business plan. Plain and simple, underfunded project unless he wanted to change the business plan. He did, but the changes were hail Marys. incomplete every time.
Merry Christmas to one of the earliest Elio Addicts. Zelio was the first to welcome me to the club years ago. 
