Rocket Fuel

Elio Momentum v16 – A lot can happen in a week at Elio Motors!

Presidents, Prototypes, SEC Filings, Oh My!

What a week here at Elio Motors!

It’s not everyday that you are included in the same story as the president of the United States…or that you take the next step in building a vehicle that will change the world…or that you make a move toward sharing your slice of the American Dream with more than 8,000 other believers…

But, we’re doing all that here at Elio Motors… and that’s just this week!

Here’s a recap:

Rubbing Shoulders with the President

Our tour team was at the National Clean Energy Summit in Las Vegas where opinion leaders from around the country gathered to discuss energy policy and share ideas for moving the country forward. It just so happens that President Barack Obama himself was there to deliver the keynote address.

And, who did local television station KSNV feel was worthy of being included in a story with the President? Elio Motors, of course! Here’s a link to the story:

One Small Step for Man, One Giant Leap Forward for Elio Motors

Meanwhile, back in Livonia, Michigan, the P5 build continues to move forward. We have made solid progress and here is a sneak peek of the sheet molded composite (SMC) panels. For those of you who are vehicle aficionados, yes, the SMC panels utilize the same materials found in today’s Corvette.

panels2-interior
Equity Crowdfunding Filing with SEC to Take Place this Week

Finally, and perhaps most importantly, this week we will file with the SEC to seek authorization to offer shares based on the recent “testing the waters” phase of our equity crowdfunding effort. We’ve taken advantage of Regulation A+ of the Jumpstart Our Business Startup (JOBS) Act of 2012 to gauge the interest of those who might want to own a piece of Elio Motors.

It’s up to the SEC to make that final determination, but just looking at the final numbers, we’d say interest is definitively high. Our goal was to reach $25 million in non-binding expressions of interest. As of today, we’re at more than $30 million from approximately 8,200 people.

The next steps are for the SEC to review our filing. Those in the know estimate that it will take between 30 and 90 days for the SEC to provide comments on our submission. After that, we file an amended offering statement until the SEC is satisfied. This may take a few rounds of comments and filing of amended offering statements.

We’re hoping to receive authorization to make a formal stock offering a few weeks after that.

We are forging ahead and, as usual, will keep you posted as it happens.

No money or other consideration is being solicited at this time, and if sent in to Elio Motors, will not be accepted.  No offer to buy securities of Elio Motors can be accepted and no part of the purchase price can be received until Elio Motor’s offering statement is qualified.  Any such offer to buy securities may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance is given after the qualification date.  Any indications of interest in Elio Motor’s offering involves no obligation or commitment of any kind.

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