Paul Elio presented at the SEC ACSEC meeting yesterday (July 19th), and as part of his presentation regarding his experience with raising capital online via Reg A+, Elio stated that his company, Elio Motors (OTCQX:ELIO), is about a year away from production. The entire video should be posted on the SEC website soon, so if you are an early investor/shareholder it is worth watch.
Along with his discussion with the ACSEC members, Elio delivered a presentation on his alternative transportation company that was quite informative. The deck, which is embedded below, is a good overview of the company and progress to date.
A few interesting bullets:
- As of May 31, 2016, Elio has Paid Reservations totaling 54,467
- Elio says awareness of their vehicle stands at just 6.5% nationally. Compare that to Tesla at 70.2%
- Elio has raised a total of $99 million through May
- Elio expects to need a further $272 million to start production
- Additional capital will be raised via customer reservations and/or additional debt and/or equity
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