DailyLunatic
Elio Addict
I might be interested in getting a piece of that, but the only stock I've ever owned were in 401Ks.
How does one purchase, say, 50,000 shares?
-sterling
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What Is The Latest Start Production Date?
- Thread starter grampi
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I might be interested in getting a piece of that, but the only stock I've ever owned were in 401Ks.
How does one purchase, say, 50,000 shares?
-sterling
Elio Amazed
Elio Addict
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The first step you'll want to do in advance, so you're ready when the stock's released, is get a broker.
It's pretty easy and sometimes free for a certain initial number of trades with an online brokerage firm.
But it can sometimes take a few days before you're approved and able to place bid and/or sell orders.
Rob Croson
Elio Addict
There was a date in their recent stock IPO filing that states that they do not expect to generate revenue until the first half of 2019. I reported that yesterday, after I read the SEC filing. While it might be true that they will not ship any vehicles until 2019, that has not been officially announced. It might be true, but it might be overly pessimistic. SEC filings are always grim tomes full of gloom and doom. That's how they cover their asses.
This is flat out bullshit. They misinterpreted the "par value" stated in the SEC filing. That is not what it means. Elio Motors does NOT plan to offer stock at $0.01 per share. The person writing that report knows nothing about the subject on which they are reporting, and their editors did a shitty job of fact checking. If they had bothered doing 30 second of research they would know the truth.
http://www.investopedia.com/ask/answers/106.asp
"However, today most stocks are issued with either a very low par value (such as $0.01 per share) or no par value at all."
"You might be asking yourself why a company would issue shares with no par value. Corporations do this because it helps them avoid a liability to stockholders should the stock price take a turn for the worse."
"Par value has no relation to the market value of a stock."
The SEC filing for listing on the NASDAQ has clear blanks where the number of shares to be offered, and the offering price, will be filled at a later date.
More bullshit. I can't even imagine how they got this value. Total bullshit. There is nothing in the SEC statement that could support this, other than just adding up random numbers about which you know nothing.
Old news. Also uncollectable outside of taking EM to court, at which point the outcome is far from certain, as Elio Motors was fined for doing things they are not yet doing. Such as manufacturing vehicles.
KTBS is a shitty news source.
Elio Motors outlook still isn't that great. Their future is up in the air in a big way. But this KTBS story isn't fit to wipe your ass with.
Rob Croson
Elio Addict
You will not be buying Elio Motors stock for $0.01 per share any time in the foreseeable future. That report is KTBS being a piece of crap panderer of yellow journalism.
airforceguy6
Elio Addict
So lets go over the facts....
Elio production is now 2019: True, sad to see this, but it wasn't out of the realm of possibilities.
Elio offering stock at 1 cent per share: Not true, they just applied for listing on Nasdaq, price is not determined at this time.
Elios Current Debt: Not True, $38.8 million debt reported last Sept (no where near your $370 million number)
$500k: True...but, that a commission did find that Elio Motors violated what they believe Elio is a manufacturer/dealer without a manufacturer/dealer license...but Elio has yet to manufacture or sold anything in the state of Louisiana. Elio is also currently appealing the decision, which might be decided in an actual courtroom, not on some commission that is full of vehicle manufacture businessmen.
So not the bearer of bad "news"...
airforceguy6
Elio Addict
Rob you beat me to it! Good reply, KTBS is full of it
The TV station dont know squat about stocks. The filing is normal. If NASDAQ agrees to their listing, they have to be assigned a ticker symbol, the number of shares has to be decided, and a pricing has to be determined by the broker based on their sales experiance. All those incomplete fields in the filing will be updated as decisions are made. I hope they end up increaseing the size of the sale. $100Million is short of what they need and was picked to generate a baseline broker fee. And it may be hard to buy 50k shares. This is thinly traded stock and few people would be selling 50k shares. Buyers would have to settle for maybe 1000 at a time. The average buyer will have to wait till the NASAQ sale is over. These new shares would have to be bought directly from Elios broker at the brokers price and most certainly are going to the brokers favorite insider buyers. We can buy these shares once the insiders decide to sell their shares. But the OTC shares would be transfered to the NASDAQ so there may be shares to buy soon after the sale. But if few people buy the NASDAQ shares, the price may start crashing again. The sale could be a success or it could be a debacle. So the average joe should avoid these till the excitement settles out.
NASDAQ will no doubt look at the price action on the OTC issue. Its been in steady decline. NASDAQ may not like that and could deny listing because it might not stay over a buck. The new listing would be dilutive to the old. Thats why people need to stay clear till the price action settles out. Elio is trying this but that doesnt mean this will work.
I ment to post about production date but I guess Stocks got mixed up in the discussion. Keep in mind when Elio finally starts to produce cars, it could be 9 months or more before the first one rolls off. He has to start by ordering all the parts. Then his guys have to make the jigs and program the equipment at each step of the way as they very slowly assemble one car. They may also have to modify some of the parts so they install better on the assembly line. Its a very slow process getting the assembly line going. Thats why he needs a ton of production money.
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