Elio Motors Inc. (ELIO)

[Greenpower1]

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.