July 17, 2016
Otc Markets and the SEC chose the perfect stock to highlight the fraud being perpetrated under the JOBS Act: Elio motors. Elio has missed ALL of their production goals of 2014, 2015, and 2016. Now, their goal is 4Q2017. They will likely miss that 1 as well given they are burning through the cash already raised in SEC approved accelerated offerings. Yet, despite the "shell status" Elio boasts a NASDAQ esque $500 million market cap. Which begs the question: WHY didn't Elio file for a traditional IPO and NASDAQ listing? Because they would not pass the due diligence process. Elio says they need $300 MILLION to commence production. Meanwhile they continue toburn cash and pile up losses. For every Elio there are dozens of STBV's. The JOBS Act in real time. So why was the JOBS Act passed? The same reason why the Stop Tax haven abuse Act has failed to pass twice. And why there have been no law enforcement inquiry in at least the last 3 years into NV,WY, and DE shell activity.