Elio Motors Inc. (ELIO)

[ErnieBilco]

Wow, when the mayor of Shreveport calls out Paul Elio you know the shell game is over and Paul's gonna have to get a real job because fleecing investors and begging for taxpayer money is coming to an end.

"If you look at Paul Elio from 2009, certainly by the time you get to 2011 and 2012, it's clear that what he is in fact is a dreamer and a schemer. It leads one to ask, what was the actual motivation behind committing these facilities, this equipment to Paul Elio and the Elio operation," said Glover.

"Going into the fourth quarter this year, they only had $101,000 in cash on hand. So when you think about the actual amount of money that they've been expending, Paul Elio with a salary of over 250 thousand," said Glover.

Former Shreveport mayor Cedric Glover said those who have purchased reservations for a car, just need to realize it is money lost.