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Discussion in 'Elio Stock Discussion' started by Ekh, Feb 20, 2016.
Tuesday, April 9th quote.
As of 1:53 EST the stock is up 3.5%. Strange considering losing the legal battle. Who would buy stock from a company with no news, good or bad, for some time now. Perhaps the majority stock owners are propping it up? Maybe trying to get the price up before declaring bankruptcy?
Friday, April 12th quote.
Only 174 shares traded today...
That’s only a total of $386 worth of stock in a full day of trading...
The term is “illiquid”...
I wonder if we could invite ourselves to that there stock holders meeting. I sure would consider attending. Anybody know?
From searching this forum for mentions of 'stock holder meeting' and 'shareholder meeting', it appears past annual meetings took place on or around May 15th each year in Phoenix, AZ. Not sure how many shares of ELIO common stock a person from the general public would have to procure in order to be granted admission to such a meeting.
In general...any Elio shareholder should be allowed into the meeting.
That’s why it’s a public meeting...
But given Elio Motors current financial situation...it could be a very short meeting with only the minimum of parliamentary procedures...
Meeting Requirements for Corporations. State laws and a corporation's bylaws will dictate specific meeting requirements for corporations.
In general...most corporations are required to have at least one shareholders' meeting per year. ...
Public companies are required to give stockholders notice of the meeting before it occurs.
The most important rights that all common shareholders possess include the right to share in the company's profitability, income and assets, a degree of control and influence over company management selection, preemptive rights to newly issued shares, and general meeting voting rights.
But... it’s important to remember the Paul Elio controls the majority of the stock...
post edited to remove inflammatory comment
Shareholders are also entitled to a CEO that communicates.
Looking on the Elio website, I can find no annual shareholder meeting for 2018. Here are the minutes of the 2017 meeting:
ELIO MOTORS, INC.
ANNUAL MEETING OF SHAREHOLDERS
May 15, 2017
The annual meeting of the shareholders of ELIO MOTORS, INC. (the "Corporation"), an Arizona corporation, was held at Embassy Suites, located at 2630 East Camelback Road, Phoenix, Arizona 85016, on May 15, 2017, at 11AM local time.
The purposes of the meeting were:
(1) To elect six (6) directors to the Company’s Board of Directors;
(2) To adopt a plan of Domestication; and
(3) To transact such other business as may properly come before the Annual Meeting and at any adjournments thereof.
Only holders of record of the Company’s common stock at the close of business on April 12, 2017 were entitled to notice of and to vote at the Annual Meeting or any adjournments thereof.
Notice of 2017 Annual Meeting, Proxy Statement and a Notice of Internet Availability were emailed to April 12th shareholders of record on May 2, 2017. Copies of all these materials were posted at http://ir.eliomotors.com/proxymaterials and filed with the records of the proceedings
President, Paul Elio, called the meeting to order at 11:00 local time, and made welcoming comments, followed by voting on each matter. As the votes were tabulated, Mr. Elio provided an overview of the Company, followed by questions from shareholders.
Connie Grennan, the corporate secretary, acted as secretary for the meeting and as inspector of election for the meeting.
Present in person were 17,997,083 shares of common stock and 5,013,557 shares by proxies that had been received, for a total of 23,010,640 shares of common stock, or 84.1% of the outstanding shares, thereby constituting a quorum for the meeting.
On the motion for the election of directors each of the nominees received at least a plurality of the votes cast.
Paul Elio 23,011,690 shares
James Holden 23,008,790 shares
Hari Iyer 23,008,690 shares
Stuart Lichter 23,008,690 shares
David Schembri 23.008,690 shares
Kenneth Way 23,008,690 shares
Since the nominees for director will be elected if they receive a plurality of the votes cast, each of the nominees were duly elected and the motion was approved.
On the motion to adopt the Plan of Domestication, 23,010,440 shares voted in favor, 200 shares voted against and no shares abstained. Since the motion passed if the votes cast in favor exceeded the votes cast against the motion, the motion was carried and the Plan of Domestication was adopted.
There being no other business, the meeting was adjourned at 12:15 p.m.
I would guess that this years meeting would be via Skype. There's no reason for anyone to be in one central location for it.