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Old 12-28-2016, 09:39 AM
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Czarcasm is offline
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Charter Member
Join Date: Apr 1999
Location: Portland, OR
Posts: 62,088
Anyone still believing in this?
Late November: Latest prototype and official press release at LA Auto Show, but this flies in the face of a earlier disastrous news-
We have a working capital deficit of $25,769,911 as of September 30, 2016. We had a net loss of $34,787,800 and $13,873,656 for the nine months ended September 30, 2016 and 2015, respectively.
“These factors, among others, raise substantial doubt about our ability to continue as a going concern. If we are unable to continue to obtain financing to meet our working capital requirements, we may have to curtail our business sharply or cease operations altogether.
Now, I've search the internet for news about investors throwing money down the Elio money pit between that depressing press release and their prototype release at the LA Auto Show, but I can't find anything. The don't even have a place to make the contraption, but they're still taking $7000 pre-orders. WTF?