Elio Motors Inc. (ELIO)

[Greenpower1]

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.