What Is Elio Stock Trading For Today?

[Samuel Gompers]

The gag order is like this. Paul can't say, " I am going to take Elio Motors Private or I have just talked to the Arabs and they like the idea of the Elio and are looking at investing $500M into the company." What Paul can do is give updates like he did from March 2016 to December 2016. Where Paul got in trouble was telling reservation holders that they would get their cars in 2018 (remember when he did that?). Paul is allowed to give us updates on all of the R&D that's going on as that's what he needed to do as it shows progress. Right now, the last real engineering update was around mid 2016. Other than that, no real updates when it comes to the progress of the car (as we all know needs lots more progress before it's production ready).

Let's not forget the SEC transparency order. Elio is not following that.

Thanks for your reply, but where is the evidence of any gag order or transparency order? There are SEC rules and guidelines, but nothing specific to Elio. The rules sort of amount to "don't lie in public", but that is neither a gag or transparency order.

 

[Samuel Gompers]

Elio has done nothing wrong and he's never going to jail or paying a fine. It's that people today have a fantasy built up in their minds that there will be justice and in the end there is. It's the justice that you didn't do your homework and thus if you did, you would have made the intelligent decision where you weighed the risks. The Elio was never a sure deal and do not turn it into that. No different that when you play the lottery and get upset because you don;t win for the last 30 years. You knew the risk.

The life lesson is this, do your homework and then look at the risk. Play it accordingly. I played it and made a profit, so a bit of loss for me is not big deal. Elio made me money and I'm happy. They might just make me and all of the other stock holders ton of money down the road. As for my situation, the stock could go to zero and I still have 1.5 free Elios (assuming they still cost $7450). If not the Elios, I can use that money for something else. If I look at the numbers, Elio bought me a salvage i3 and then some other things. I wish there were more people like Paul because it does work out if you do it right.

I have no basis for a lawsuit because I did my homework. I went by the office to make a reservation, and discovered that it wasn't Elio's office. I reviewed the Reg A filings and saw the total financial instability of the company, and didn't buy any stock. I was not fooled into spending money, but still loved the idea. Elio never made sense financially, but appealed to me emotionally. FWIW, I don't play the lottery, either.

Some, like you, made money on the deal. Most did not. Where I made my mistake in not buying stock, was thinking that this was a financial investment based on the probability of the company achieving production, rather than seeing it as a short-term emotional speculative play. I still remember when the theoretical value of the company exceeded $1.5 BILLION.

I agree that Paul is unlikely to wind up in jail or prison over this. He has successfully avoided paying the $7.5M fine repeatedly, and may continue to do so. He has apparently not paid the $575k fine, and may well avoid paying it as well. That is not the same as not having the fines imposed up him, but the old "blood from a turnip" adage applies.

Whether saint or sinner, Paul appears to have won the legal game, and lost the production game. Of the fans, some made money, most lost money. All of us wasted time, but most of us enjoyed the spectacle. At this point, most, if not all, of the people who wanted to see Paul frog-marched into jail don't care any more. The same can be said about those who wanted him proposed for sainthood.

 

[Watashiwah]

Elio and Iyer got too far ‘behind the power curve.’ They had no performance numbers to even appear to complete with other ICE engines, they had one last set of CAD drawings that might have been 90 percent viable but had no representative prototype. They couldn’t say anything unless they invoked the ‘forward looking statements’ boilerplate disclaimer within the communication. Non of these realities ever was reason enough for them to stop taking ‘reservations’ for ‘spots In line’, tho. There is a word for this, and it’s not ‘puffing.’

Somewhere, (in addition to the ~$ 25million paid to Paul and Hari thru ESG Engineering), there seems to be about $125million unaccounted for. There are only five ‘prototypes’ only maybe 2 have a motor. Where did the money go for the 25 ‘test vehicles’?

 

[RSchneider]

You have to remember, for most, this is an emotional investment and thus what people want to see is the company go under because they can justify their ill informed decision. The fact it. Elio can keep going on like this for 10 years. So, they will not be going out of business anytime soon. Post all the memes you like but it doesn't change the current situation. At this point, it's just another speedbump until the next press release that will keep everyone going for a while. Just go into the bio med or charm stocks and you'll see lots of emotional investment and the story is exactly the same, just a different product. The only real difference is that people with a life threatening disease are cheerleaders for a company because it's a matter between life and death. As for Elio it's a matter between having a play toy or not. I find that most Elio Owners are in it for a play toy as opposed to making it to the next paycheck and providing for the family. I guess having a deaf brother brings it into perspective for me. He has no need for a stereo or could care less for vinyl records. He gets his kicks from everything else.

 

[Elio Amazed]

I have never seen any evidence of an SEC gag order against Elio. As I understand it, gag orders are part of a settlement of an enforcement action. (https://ij.org/case/sec-gag-orders/) What was the enforcement action against Elio. I believe tht Bookly is correct, and that the gag order is mere conjecture.

It is not OUR conjecture. It was IMPLIED, EXPLAINED, and USED AS AN EXCUSE at almost every turn by Mr. Paul Elio. But then all's fair in love and business and it's just part of playing the game, win or lose. Stock... $1.710000 −7.07% −$0.130000

 

[Elio Amazed]

Elio has done nothing wrong and he's never going to jail or paying a fine. It's that people today have a fantasy built up in their minds that there will be justice and in the end there is. It's the justice that you didn't do your homework and thus if you did, you would have made the intelligent decision where you weighed the risks. The Elio was never a sure deal and do not turn it into that. No different that when you play the lottery and get upset because you don;t win for the last 30 years. You knew the risk.

The life lesson is this, do your homework and then look at the risk. Play it accordingly. I played it and made a profit, so a bit of loss for me is not big deal. Elio made me money and I'm happy. They might just make me and all of the other stock holders ton of money down the road. As for my situation, the stock could go to zero and I still have 1.5 free Elios (assuming they still cost $7450). If not the Elios, I can use that money for something else. If I look at the numbers, Elio bought me a salvage i3 and then some other things. I wish there were more people like Paul because it does work out if you do it right.

No offense, but it sounds like you just looked down your nose at, and extolled your superior intellect and virtue for, almost everyone on this site.

 

[RSchneider]

No offense, but it sounds like you just looked down your nose at, and extolled your superior intellect and virtue for, almost everyone on this site.

No offense taken. I don't have superior intellect but just utilize my past experience from past failures to make sure I don't repeat the same mistakes again.

 

[Ty]

I have no basis for a lawsuit because I did my homework. I went by the office to make a reservation, and discovered that it wasn't Elio's office. I reviewed the Reg A filings and saw the total financial instability of the company, and didn't buy any stock. I was not fooled into spending money, but still loved the idea. Elio never made sense financially, but appealed to me emotionally. FWIW, I don't play the lottery, either.

Some, like you, made money on the deal. Most did not. Where I made my mistake in not buying stock, was thinking that this was a financial investment based on the probability of the company achieving production, rather than seeing it as a short-term emotional speculative play. I still remember when the theoretical value of the company exceeded $1.5 BILLION.

I agree that Paul is unlikely to wind up in jail or prison over this. He has successfully avoided paying the $7.5M fine repeatedly, and may continue to do so. He has apparently not paid the $575k fine, and may well avoid paying it as well. That is not the same as not having the fines imposed up him, but the old "blood from a turnip" adage applies.

Whether saint or sinner, Paul appears to have won the legal game, and lost the production game. Of the fans, some made money, most lost money. All of us wasted time, but most of us enjoyed the spectacle. At this point, most, if not all, of the people who wanted to see Paul frog-marched into jail don't care any more. The same can be said about those who wanted him proposed for sainthood.

Remember, Paul was never fined. The Elio company WAS fined. Paul doesn't have to pay anything. He can just let the company implode and walk away.

 

[Ty]

Elio and Iyer got too far ‘behind the power curve.’ They had no performance numbers to even appear to complete with other ICE engines, they had one last set of CAD drawings that might have been 90 percent viable but had no representative prototype. They couldn’t say anything unless they invoked the ‘forward looking statements’ boilerplate disclaimer within the communication. Non of these realities ever was reason enough for them to stop taking ‘reservations’ for ‘spots In line’, tho. There is a word for this, and it’s not ‘puffing.’

Somewhere, (in addition to the ~$ 25million paid to Paul and Hari thru ESG Engineering), there seems to be about $125million unaccounted for. There are only five ‘prototypes’ only maybe 2 have a motor. Where did the money go for the 25 ‘test vehicles’?

If you remember correctly, they started raising money for the 25 prototypes and then had to switch to a unibody which probably took a lot of money to build the soft forms which would have been able to build several prototypes. Then, once they validated the unibody (never made it this far), they would be able order forms for stamping out body panels enmass. Apparently, they either found something that would be a problem, couldn't finalize the unibody till they had the engine sourced, or spent all the money on engineering support.

 

[RSchneider]

If you remember correctly, they started raising money for the 25 prototypes and then had to switch to a unibody which probably took a lot of money to build the soft forms which would have been able to build several prototypes. Then, once they validated the unibody (never made it this far), they would be able order forms for stamping out body panels enmass. Apparently, they either found something that would be a problem, couldn't finalize the unibody till they had the engine sourced, or spent all the money on engineering support.

What you need to remember is that Elio was told a number of times that building a tube frame chassis and SMC body was way too expensive for mass production of a super cheap car. I believe they knew this a long time ago and thus when the $16M was raised, that money went into the CAD time, Engineering and tooling to just make the unibody chassis. 2016 was the banner year for Engineering as they spent $26M that year. The grand total of R&D is only $62M that counts 2009 to 2019. In 2016 they made 5 unibody chassis and zero bodies but they ran out of money. As Paul admitted, they burned through the cash as fast as possible.

One other thing to remember, the reservations only brought in $28M and the IPO $16M. The rest were from other investors and loans. As I've said before, Elio never had enough coming in to keep the business moving forward. Thus 2016 was the final year of any progress. From 2017 to today, it's just been looking for more money. Elio realized that there was never enough interest in the car to make it happen for the budget that they came up with. When you still need $531M and you only have raised about $110M to date, it shows that the company has been seriously underfunded from day one. I've admitted this before, if Elio got the 65K reservations in the first 6-12 months, they would have demonstrated that the demand was there. Instead it took them various incentives to get to 65K and that took 52 months to do.

With Elio dropping off the face of the earth and getting barely any new reservations and no press whatsoever, it's impossible that an angel investor is coming in to write the check that will fund it to completion. Paul and company did their best but they knew the money was never there. This is why they have stopped everything except for a recycled blog entry every two weeks. They decided to not spend the money on a SEC filing. So, it's obvious that the company is just Paul and it's located out of his house. He and I are the same then. Both have a BSME and both have a single person business run out of their house. I assume he's just doing what I do. Being a consultant and taking on various jobs all in hopes that the phone will ring with a Bill Gates type person ready to fund the project.