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Someone told me he died.
Old age
Management quit.
Too many shares outstanding
No patents in the vault
You have to roll back the clock to 2008 (when Elio Motors was formed) then you'll see how it was a company that spent 4 years trying to get investments or partners. They actually got investments and it kept them going. In 2013, they leased the plant and took a loan out on the tooling and started taking reservations. Problem was, they defaulted on the lease and loan. Loan defaulted to 18% interest (on $26M) and fines and penalties for being late on lease payments. Then there was the jobs plan of having 1500 people employed by 2015. That resulted in a $7.5M fine. Right there, they were hoping the interest in the product was going to take off, yet it didn't. Not enough money coming in and too much going out. It became obvious, they were a sinking ship. I seen this in 2015. Yet others just thought they would somehow pull through.
Here we are 9 years later and I'm right. Paul is selling used cars in Phoenix, plant is leased out to someone else, no website and no communication from the company. Soon, it'll be delisted. Then we start the next group of delisted traders that hope the company will come back from the grave.
Owner is dead
No patents left in the vault
Management left
Ceased operations
Check out the latest exciting updates at eliomotors.com. It's the best as it comes from the boss's mouth.
You obviously do not know how some Saturns and a Fiero are made. Plus do not know they were failures. Then you never read the SEC filings and seen how much in total they needed to get the business running. Instead, we might as well go back to the NFL kneeling at the games as to why Elio never got funding. Make things up and hope people will take a sub penny stock and the price raises all because of some convoluted information. As you already know, Elio Motors site is down (again). Maybe if we talk about it enough, the stock price will go up, Paul will be able to cash out and walk away.
Welded space frame costs way too much over a unibody. Show me one high volume cheap vehicle that is made from a space frame. Remember, they were to be making 250K of them per year and selling the final product (with full HVAC, power locks, power windows and three airbags) all for $6800 (then changed to $7450". So that's the criteria. At the time, same volume as a Honda Civic.
If you actually took the time to read the SEC filings (which you haven't) you'd see why they were hemorrhaging cash. They are out there for free on the internet. It just takes time to read them and you wish not to. I ask you this, "Why do you refuse too?"
Management quit and left
No patents left. All gone
Company ceased operations
Too many shares outstanding.
No they didn’t.
No patents in the vault.
You do know they only raised $110M and needed $600M. So they ran out of cash.
Making those early mistakes of 18% interest on a $26M loan back in early 2013 or defaulting on the plant lease then paying penalties on that. How about the worker program where they needed to have 1500 jobs by 2015. That racked up another $7.5M. Let's not forget the lobbyists they paid to change all of the rules for autocycles. Yes, they needed to pay the people doing all of the redesign and their vendors and rent on the place in MI.
When you run out of money, you close shop and hope some other way of bringing in cash will happen. It didn't and thus, it's over. They have tried things like Crypto and even announcing an EV, yet no investment. Thus, they are playing out the clock and will go away.
Management made me more happy. Good update.
Management has made us happy.
They ran out of money. That's the reason why they stopped.Read the SEC filings and you'd informed of that.
It has. Something is gonna happen soon.
They introduced it back in 2019. Just a rename of an old design.
Who's they?
He's 86 years old. So he's taking that money and enjoying life until he passes away. Zero reason to do anything other than that.
FUV stock is climbing fast.
Better be a boatload of money in that vault. I'm guessing, since they ceased operations, the owner is enjoying the money he stashed away in that vault you talk about. Nothing else is in there.
Elio is in production for the EV version. Excited.
Please explain who they could merger with? Moller has ceased operations and has no employees. I look forward to your suggestions as I can pass it onto the management and get this trading again. I need to know by tomorrow as this is time sensitive to make you a Moller Millionaire.
Flying cars already exist. So Moller had the market 30 years ago.
In addition to taking the company private, they ceased operations. They are out of business.
Management took it private. Direct info from the management.
Posting. They have a toll free number and you can get the info you need.
Just people shorting. With 10 minute recharging, Autonomous FUVs and the $12K pricing, they will win big time.
Are you sure. SOLO is just down the street from Elio and has open EV plant ready manufacturing.
Thank you for calling the company and posting the info. You help the others that are too scared to do so.
The HQ does not mean where they are building them. For example, Stellantis is located in Amsterdam and builds products in other locations. For example the Dodge Ram is made in Michigan. I just want to know where the new Elio plant is as they have their HQ in Phoenix yet a plant in LA.
Anyone know where they are building the Elio EV? It's not in Shreveport as the facility is now fully occupied by other tenants. Most revently, SPB who signed a 7 year lease for the rest of the plant. Is Paul building them at his house? Maybe out behind a starbucks?