Elio Motors Inc. (ELIO)

[abracky]

Elio Motors: Where's the cash?

* Elio Motors filed paperwork to launch a secondary public offering of Elio Motors common stock.

* Elio Motors says its current reservation total has risen to 65,341.

* The cost of the Elio has risen to $7,450.

* Production delayed to 2019.

With less than $5,000 in cash reserves - and basically broke - Elio Motors, which has yet to build a car, or provide jobs in Shreveport, is switching to Nasdaq to generate $100 million in stock sales. But before investors buy, it's worth doing your due diligence.

3-Investigates uncovers how Elio Motors burned through the millions of dollars it started with and who benefited. The details were found in Elio's most recent securities and exchange commission filing processed on Aug. 16. Elio states 15 times it has either not generated revenue, lacks sufficient cash, may have to cease operations or liquidate.

Its total cash reserves down to $4,444.

https://www.ktbs.com/3investigates/elio-motors-where-s-the-money/article_c2ab7338-8a18-11e7-8985-7f608c05edcb.html