The company Tweeted that some of the potential investors were considered suspect because of the, "dollar amounts and newly created email addresses." Elio and StartEngine are now going to investigate these accounts and, for the time being, they are not being included in the current total, which for a while dropped back down to $21.5 million. The potential shadiness does not seem to be dulling overall the excitement. As of this writing, the collected total is back up to $23,276,764 from 5,620 investors.
Elio will partner with Comau to build the trikes at a Shreveport, LA factory in that used to belong to General Motors. Elio has said it will employ about 1,500 people and will start building cars for the public in 2016.
You can read Elio's full statement on the StartEngine situation below.
We have noticed several potential investors that expressed interest are "suspect" based on dollar amounts and newly created email addresses. The StartEngine.com team has flagged these inquiries for further investigation and is not including them in the current total number of investors or expressed interest in dollar figures.
Currently we have 5,559 investors who have expressed interest in an Elio Motors investment at an average of roughly $4,000 each, out of which 72 percent of those investors come from our reservation holders and other fans of the company.
Keep in mind that the Regulation A+ offering has made it possible for start-up companies to "test the waters" and see if there is sufficient interest from potential investors. This phase serves as an expression of interest and is non-binding. Following this phase, Elio Motors will proceed with filing an offering statement with the SEC and once that offering statement is qualified by the SEC, Elio Motors can make a formal stock offer to interested investors.
Overall, we are extremely pleased with the initial support of our crowdfunding initiative and will continue to take additional expressions of interest while working with the SEC on next steps.