Quote:
Originally Posted by botsapper
"We have no revenues, are currently in debt, and expect significant increases in costs and expenses to forestall revenues for the foreseeable future," states the filing. "Even if we are able to successfully develop the Elio, there can be no assurance that we will be commercially successful. If we are to ever achieve profitability, we must have a successful commercial introduction and acceptance of the Elio, which may not occur."
...no final design, no working production facility and competition from alternative energy vehicles and more efficient gas-powered vehicles.
Elio tells SEC it has lost $53M so far |
Yup, that kind of describes a boondoggle.
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Southeast Michigan Dark Side Rider
4 Honda Reflex scooters & PS250 Big Ruckus
Originator of the "Darkside" Honda Reflex.
"Yeah dude, that IS a car tire there on the back of my scooter."
Sometimes I'm so far outside of the box, the Hubble telescope can't find me
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