Eli Electric Vehicles, Inc.
View this filing on EDGAR (filing index, accession 0001477932-24-007185) | All Form C filings by this company on EDGAR
Filing details
| Company | Eli Electric Vehicles, Inc. | (Form C, issuer information) |
|---|---|---|
| State | CA | (Form C, issuer information) |
| Platform | DEALMAKER SECURITIES LLC | (Form C, issuer information) |
| Filing date | 2024-11-14 | (EDGAR filing index) |
| Date of incorporation | 2018-02-06 | (Form C, issuer information) |
| Employees | 22 | (Form C, issuer information) |
| Security offered | Other Class A Common Stock | (Form C, offering information) |
| Price per security | $10 | (Form C, offering information) |
| Target amount | $10,005 | (Form C, offering information) |
| Maximum ask | $1,024,992 | (Form C, offering information) |
| Offering deadline | 2024-12-31 | (Form C, offering information) |
| Platform compensation | 8.5% of the amount raised, one-time activation fees of $5,000, monthly fees of $2,000 | (Form C, offering information) |
Financial summary
Figures are as entered by the company in the financial summary on the cover of its Form C. They are self-reported and unaudited, and they are not taken from the financial statements filed as exhibits to the Form C, which we do not read mechanically.
| Item | Most recent fiscal year | Prior fiscal year | Source |
|---|---|---|---|
| Revenue | $2,689,237 | $1,222,756 | (Form C, financial summary) |
| Cost of goods sold | $2,398,694 | $1,144,720 | (Form C, financial summary) |
| Net income | -$2,535,490 | -$2,152,484 | (Form C, financial summary) |
| Taxes paid | $0 | $0 | (Form C, financial summary) |
| Cash and equivalents | $452,995 | $214,272 | (Form C, financial summary) |
| Accounts receivable | $615,561 | $78,913 | (Form C, financial summary) |
| Total assets | $3,568,323 | $2,776,046 | (Form C, financial summary) |
| Short-term debt | $1,393,980 | $605,363 | (Form C, financial summary) |
| Long-term debt | $9,025,659 | $7,341,341 | (Form C, financial summary) |
Mechanical checks that fired
- Going-concern language. Going-concern language appears in this offering's own Form C filing or in an amendment to it, in a sentence that states it rather than ruling it out. The quoted sentence is below. Read the auditor or accountant notes in the filing for the full context. Found in: 0001477932-24-007185.
"ility to continue as a going concern for a reasonable period of time We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit."
"GOING CONCERN The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business."
- Related-party language. Related-party language appears in this offering's own Form C filing or in an amendment to it, in a sentence that states it rather than ruling it out. The phrase can describe routine or unusual arrangements, so read the quoted sentence and the filing. Found in: 0001477932-24-007185, 0001477932-24-007553.
"e Company had related party transactions with Greenman Machinery Company Ltd."
"The Company also had related party transactions with wholly owned subsidiaries of Greenman, Beijing Toppo Machinery Co., Ltd., and Greenman Electric Vehicles Co., Ltd."
- Net loss in both years. Net income is negative in both fiscal years reported in the Form C financial summary.
- Cash below one year of losses. Net loss for the most recent fiscal year is larger than year-end cash, both as reported in the Form C financial summary.
- Debt above assets. Short-term plus long-term debt is larger than total assets in the Form C financial summary.
- Platform compensation of 8% or more. The platform compensation stated in the Form C is 8% or more of the offering.
A check means "read this part of the filing closely." It is not a judgment about how the company will do.
Company website as listed in the Form C: https://www.eli.world/
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