Elio Motors Takes Major Step Forward with $17 Million in Expressed Interest; Revolutionary Investment Opportunity Perfect Fit For Revolutionary Transportation Start-up
On June 19, we launched a crowdfunding campaign on StartEngine.com. Our “testing the waters” effort has been incredibly successful, incredibly quickly. We’ve already surpassed $17 million in expressed interest from nearly 5,000 investors. Should these non-binding indications of interest turn into actual investment in Elio Motors, we will be 68 percent of the way to our $25 million goal.
We’re always looking for ways to innovate and the crowdfunding initiative was a perfect fit. It’s made possible by recent changes to the 2012 JumpStart Our Business Start-up (JOBS) Act, which in part made it easier and more cost effective for start-up companies to go after non-accredited investors.
Now, about that $25 million that we are in process of raising…how will it be used? Back in March, a similar initiative was used to fund the upcoming P5 prototype. The latest funds from this campaign will be used to develop the P6 through P30 for a variety of testing and validation. It’s a critical milestone for us as part of our march toward production and this latest round of funding will help us get there!
As the name of this newsletter suggests, Elio Motors continues to gather Momentum. This investment initiative has given us significant forward motion. Paul, being an engineer at heart, is a huge fan of Sir Isaac Newton and now believes we are experiencing Newton’s Law. To paraphrase, “an object in motion will stay in motion unless acted on by an equal or opposite force.”
We intend to stay in motion, moving relentlessly toward production and the results of this crowdfunding initiative are a big part of our current velocity!
**No money or other consideration is being solicited at this time, and if sent in to Elio Motors or StartEngine, 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 Any such offer to buy securities may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance is given after the qualification date.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 Motors’ offering involves no obligation or commitment of any kind.**