What Is Elio Stock Trading For Today?

[Sailor Dog]

EM said it best in their SEC Filing:

View attachment 22398

Standard language found in all SEC filings involving IPOs. Usual legal CYA stuff. Never do an IPO if that scares you off.

 

[Rickb]

Standard language found in all SEC filings involving IPOs. Usual legal CYA stuff. Never do an IPO if that scares you off.

EM did the Reg A+ IPO and unfortunately the outcome scared off a lot of investors when they failed to do what they said with that funding round. Nothing standard, but rather EM addressing issues and questions potential IPO investors had about at the time of the offering.

It sounded like EM didn’t want or need the risk of more stringent regulations and the added expense of maintaining a NASDAQ listing. EM is barely hanging onto their OTC Market listing. EM should focus on building one e-Series and if they did, I’d do cartwheels.

 

[Sailor Dog]

EM did the Reg A+ IPO and unfortunately the outcome scared off a lot of investors when they failed to do what they said with that funding round. Nothing standard, but rather EM addressing issues and questions potential IPO investors had about at the time of the offering.

It sounded like EM didn’t want or need the risk of more stringent regulations and the added expense of maintaining a NASDAQ listing. EM is barely hanging onto their OTC Market listing. EM should focus on building one e-Series and if they did, I’d do cartwheels.

A NASDAQ raise & IPO from VCs & accredited investors is a completely different situation... Upcoming court case gives pause naturally. These guys will eliminate uncertainties before the big commitment of $$$$.

We speculated that ELIO may have more to reveal than realized in the 2nd quarter pipeline... Expecting a few surprises.

 

[Elio Amazed]

EM should focus on building one e-Series and if they did, I’d do cartwheels.

I want video coverage of this.

 

[Rickb]

I want video coverage of this.

I’m afraid it would go viral if I post it.

 

[RSchneider]

EM did the Reg A+ IPO and unfortunately the outcome scared off a lot of investors when they failed to do what they said with that funding round. Nothing standard, but rather EM addressing issues and questions potential IPO investors had about at the time of the offering.

One of the other things to consider was that the goal was $25M and they raised $16M. they only got 64% of the money raised that they needed. There was lots of talk about how successful the IPO was but when you really look at it, it failed.

I ask this, what has changed since that February 2016 IPO to now make investors ready to throw money at the company? The only things I can tell are that they built 3 E-Series and announced a few letters of intent. The bad, is that they went from $312M to $376M on what it would take to go into production. As we all know, the real number is $531M. Then they never built the other 20 e-series and then never sold or built those 100 fleet Elios. Finish it off, they stopped all shows and the tour for about a year. When things were humming along with lots of announcements, shows and reservations, they could only raise 64% of their goal. Now things don't look much better and the goal is $100M.

If there was real progression the last 1.9 years since the IPO, then I could see that this will work but they have dug the hole deeper and thus it'll be harder to get out. Let's hope that big news is actually bug news as opposed to some of the other big news announcements that turned out to not be so big.

 

[Rob Croson]

One of the other things to consider was that the goal was $25M and they raised $16M. they only got 64% of the money raised that they needed. There was lots of talk about how successful the IPO was but when you really look at it, it failed.

They only needed $12M. With the way the reg A+ works, they asked for twice what they estimated they needed. That's why they did the offering for $25 M as a maximum.

For me, the surprising thing about the Reg A+ offering was that they had expressed interest of nearly $50M, but only $16M actually put up the money.

 

[Watashiwah]

Is there 'big' news on the horizon? I'd be happy just to see Paul say or do something....

It would be nice to believe that Paul is still in there, fighting the good fight. There is no doubt (very little, anyway), in my mind, that Paul started this with the best of intentions; why else would he put his name to it and not just call in the "Dale, part deux"?

 

[RSchneider]

They only needed $12M. With the way the reg A+ works, they asked for twice what they estimated they needed. That's why they did the offering for $25 M as a maximum.

For me, the surprising thing about the Reg A+ offering was that they had expressed interest of nearly $50M, but only $16M actually put up the money.

Securities offered
Minimum of 1,050,000 shares of common stock ($12,600,000)
Maximum of 2,090,000 shares of common stock ($25,080,000)
We reserve the right to accept subscriptions for up to an additional 418,000 shares for up to an additional $5,016,000.

Yes it was a range of $12M to $25M, so it was a success and not a failure. Here's the failure:

Use of proceeds
The net proceeds of this offering will be used primarily to develop and validate additional prototypes of the Elio.

The following tests are planned for the 25 prototypes, with some vehicles to be used for multiple tests:
1)
Underhood thermal & HVAC testing – 4 vehicles

2)

Electrical – 12 vehicles

3)
General inspection – all vehicles

4)
Serviceability – 1 vehicle

5)
Powertrain (to include altitude testing, emission certification, engine/transmission development & calibration, economy and software development & verification) – 9 vehicles

6)
Interior – 4 vehicles

7)
Noise, vibration & harness – 4 vehicles

8)
Steering – 1 vehicle

9)
Ride & handling (to include vehicle turning, objective measurements, NHTSA Fish Hook, tire wear and electronic stability) – 6 vehicles

10)
Performance (to include engine/transmission shift validation, 0-60 mph, hill climb, cold temperature start-up and drivability and maximum speed) – 1 vehicle

11)
Fuel systems – 1 vehicle

12)
Brakes – 4 vehicles

13)
Body systems – 12 vehicles

14)
Durability – 7 vehicles

15)
Safety tests – 8 vehicles

Elio raised $4M more than the minimum yet only built 3 out of the 25. Another way to put it, they raised 33% more than what they needed as a minimum yet only produced 12% of the product. Something went really wrong and thus, a failure.

 

[RSchneider]

Is there 'big' news on the horizon? I'd be happy just to see Paul say or do something....

It would be nice to believe that Paul is still in there, fighting the good fight. There is no doubt (very little, anyway), in my mind, that Paul started this with the best of intentions; why else would he put his name to it and not just call in the "Dale, part deux"?

There was a video posted here earlier when that "Joe Knows" talked to Paul. He indicated that Paul told him that big news for 2018 (or something like that).