Elio financials..!!

[Chupaca]

so if you look at the financials released by Paul Elio...do you think they will make it. Keep seeing folks placing orders...:dontknow:

http://gas2.org/2013/08/16/financials-show-that-elio-motors-is-really-probably-not-gonna-happen/

 

[Bob Denman]

What was it, that P.T. Barnum said? :dontknow:
I wouldn't rule them out just yet; they seem to have enough lives; to make an entire litter of kittens jealous!
Time will tell...

 

[bluestratos]

Me thinks this stinks, lol.., look at the advertising cost/budget. I would love to see them succeed but......

 

[BajaRon]

Looks like, if you have sent them money, it might be a good time to see if you can get it back. Good luck to all you brave 'Donaters' out there. Hope he can pull a rabbit out of his hat.

Unlike Bullwinkle, he'll probably get just 1 chance....

 

[MarkLawson]

I don't know.

From scanning through the article, the first thing I saw was the tone of the article, which suggests the writer is not onboard. I'm fine with that, as long as it is kept professional. This piece was not professional, even if it was accurate, about which I have no clue. It could also mean that the writer is actively against the success of Elio. If that is the case, then I would think caution is needed while reading it.

Again, I don't know.

 

[Dan_Ashley]

I hate it when people get taken.

I like to to buy things that actually exist.

I would be surprised if anyone gets any money back. After all, did they not get a t shirt? A bankruptcy judge would probably rule that they received value, however minimal, for the $100 that was paid.

I don't care if a rich tycoon gets taken for $100, but lots of people who sent in money are not rich.

 

[Lamonster]

I don't know.

From scanning through the article, the first thing I saw was the tone of the article, which suggests the writer is not onboard. I'm fine with that, as long as it is kept professional. This piece was not professional, even if it was accurate, about which I have no clue. It could also mean that the writer is actively against the success of Elio. If that is the case, then I would think caution is needed while reading it.

Again, I don't know.

Caution should have been taken before handing your hard earned cash over to a company that was selling something to good to be true.

 

[Dan_Ashley]

Caution should have been taken before handing your hard earned cash over to a company that was selling something to good to be true.

....but, .... They ARE selling underware!

 

[MouthPiece]

It's called "risk takers". This country used to have a bunch of them. I don't know now in today's day and age. Too much "guvment" BS.

Chris

 

[Texas]

Ask for a Return of Your Deposit

The primary reason the company takes the deposits isn't to reserve your vehicle; instead, it's to provide supporting documentation when trying to get financing. Unfortunately, there have been several companies that have unsuccessfully tried this in the past. The reason is because of the type of vehicle they are trying to bring to market. It's a 3-wheeled 'enclosed' vehicle. The book is still being written on the safety requirements for this vehicle. I'm guessing they're also trying to get funding under the Advanced Technology Vehicles Manufacturing Loan Program, which is extremely difficult to achieve. I love the idea that I could start seeing these vehicles on the road; and I would even consider buying one of them after a safe period of time. Unfortunately, they most likely won't be able to get the vehicles to a consumer's garage due to the inability to secure financing, either from the government, or privately.

If I had a deposit with this company, I would immediately ask for a refund. Then, once the first vehicle lands on the showroom floor, give them a deposit if that is what they require. Otherwise, you may very well find yourself $500 poorer.

 

[Dan_Ashley]

The primary reason the company takes the deposits isn't to reserve your vehicle; instead, it's to provide supporting documentation when trying to get financing. Unfortunately, there have been several companies that have unsuccessfully tried this in the past. The reason is because of the type of vehicle they are trying to bring to market. It's a 3-wheeled 'enclosed' vehicle. The book is still being written on the safety requirements for this vehicle. I'm guessing they're also trying to get funding under the Advanced Technology Vehicles Manufacturing Loan Program, which is extremely difficult to achieve. I love the idea that I could start seeing these vehicles on the road; and I would even consider buying one of them after a safe period of time. Unfortunately, they most likely won't be able to get the vehicles to a consumer's garage due to the inability to secure financing, either from the government, or privately.

If I had a deposit with this company, I would immediately ask for a refund. Then, once the first vehicle lands on the showroom floor, give them a deposit if that is what they require. Otherwise, you may very well find yourself $500 poorer.

What you describe is exactly what killed Apterra. And the Apterra was a lot cuter!

 

[MarkLawson]

Caution should have been taken before handing your hard earned cash over to a company that was selling something to good to be true.

Absolutely! As I have no investments tied to Elio, I have no dog in this fight. It is interesting & I would like to see them succeed. My concerns are about the article. As written, I can't see any neutrality in the writer. As such, it lacks credibility in my mind. Not saying he is wrong, but can't say I'm confident in what was written.

 

[Bob Denman]

What you describe is exactly what killed Apterra. And the Apterra was a lot cuter!

I do think that I agree with you... :thumbup:

 

[BikerDoc]

I hate it when people get taken.

I like to to buy things that actually exist.

I would be surprised if anyone gets any money back. After all, did they not get a t shirt? A bankruptcy judge would probably rule that they received value, however minimal, for the $100 that was paid.

I don't care if a rich tycoon gets taken for $100, but lots of people who sent in money are not rich.

Some folks put up 1000 instead of 100 for a better place in line. I guess that means they will see their money burning more clearly

 

[BajaRon]

I don't know.

From scanning through the article, the first thing I saw was the tone of the article, which suggests the writer is not onboard. I'm fine with that, as long as it is kept professional. This piece was not professional, even if it was accurate, about which I have no clue. It could also mean that the writer is actively against the success of Elio. If that is the case, then I would think caution is needed while reading it.

Again, I don't know.

I understand what you are saying and my feeling is that you can take this 2 different ways.

1- The guy doesn't like the product, the promoter, or is just having a bad day.

OR

2- The guy doesn't really care one way or the other but knows this promoter, knows where this is headed and is a bit angry that people are being taken.

But as you say, bottom line it isn't so important what the writer's motivation is as it is whether the information is true or not. If the financial projection document sited was generated by the company, then I'd say the 'Writing is on the wall' and I'd be trying to get my money back.

For my part I hope it goes well and everyone is happy. But my position has zero effect on the outcome.

 

[Bob Denman]

Some folks put up 1000 instead of 100 for a better place in line. I guess that means they will see their money burning more clearly

 

[ARtraveler]

I have looked at these before thanks to some information from another SL member.

These are the least informative and non-GAAP (Generally Accepted Accounting Principles) statements that I have seen.

They are actually pro-forma--(As If) and are based on predictions. A beautiful rendition of "smoke and mirrors" with a lot of things left out. Caveat Emptor

What we would really like to see is the "real thing."

I teach accounting and am a CPA.

 

[Woodsrider]

I gave 'em 100 back in...um...2011 I think, when they did first round. A nice logo'd T-shirt these days is $20 plus ship, I got that, a bumper sticker, and a few years of entertainment.

I don't expect to ever see an Elio, especially since the 'limited' time offer to put a deposit in and get a place in line has been running 3 years. If you put $500 in today, you're ahead of anyone who put in $100, at any time.

They announced several production dates, and they had one that was only a few months away at the time and got a lot of suckers to toss in $1k non-refundable to get their reservation number in stone. Only to push back the date, and push back the date.

I really can't think this is anything but a long scam.

 

[Dan_Ashley]

I found a good pro-forma spreadsheet for Elio Motors: http://forward-now.com/wp-content/uploads/2013/08/Elio-Motors-Financials.xls

How can I post this on Spyderlovers? But here it is, I am going to start reviewing it now.

Edit: the first thing I noticed is that they expect to sell 250,000 units per year. That is 25% more than all Harley's sold per year in the US, and it represents about 56% of the entire US motorcycle market. The Toyota Prius sold 186,000 vehicles in 2008. I have not yet found more recent sales numbers for the Prius. Never-the-less, 250,000 Elio cars seems to me to be a very aggressive estimate.

 

[SNOOPY]

Caution should have been taken before handing your hard earned cash over to a company that was selling something to good to be true.

Unfortunately happens too often anymore.