Tuesday, May 09, 2017 12:28:21 PM
That isn’t the worst news.
In the filing, Elio Motors announced it was laying off sales and engineering personnel to conserve resources as it focused on securing more financing, primarily through the sale of stock and taking on more debt. An unnamed vendor is also in a payment dispute with Elio Motors, and the company is running a $100+ million deficit.
http://www.thetruthaboutcars.com/2017/05/paul-elio-wishes-folks-look-bright-side/
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