Electra Meccanica Vehicles Will Trade As ECCTF on OTCQB

It takes money for a start-up like EMV to ramp up production. They can do it the slow way by selling cars and recycling the profits or they can do it faster by selling shares of the company or increasing indebtedness. EMV now has the possibility of selling shares to grow the company. Shares have been sold privately and those shareholders can cash in, buy more shares or hold the ones they own. I’d bet with the start of production most would see holding or buying more shares as the right thing to do. Shares of a productive company should be worth more than shares in a bottomless pit of R&D. Anyway, you can watch the action here. When I last checked there was no quotation yet and the shares are listed as in the “grey” market. That will change.

About Robert Pogson

I am a retired teacher in Canada. I taught in the subject areas where I have worked for almost forty years: maths, physics, chemistry and computers. I love hunting, fishing, picking berries and mushrooms, too.
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11 Responses to Electra Meccanica Vehicles Will Trade As ECCTF on OTCQB

  1. Grece says:

    So you don’t care about making a profit? You’d prefer being taking advantage of?

    How rather stereotypical of you Robert, no wonder everything is a LOSE/LOSE with you.

  2. Grece wrote, “The insurance company got your car for cheap, turned around and had it repaired and sold it at a profit.”

    I don’t care. Typically, these writeoffs are sold for scrap/parts. We got market value for the old car and used the money as a payment for a newer less luxurious car. I was well rid of the bottomless pit of a car.

  3. Grece says:

    It was eventually “totalled” by a minor collision in a parking lot. The insurance company said it would cost more to repair than it was worth. I believed that.

    You’re naive. The insurance company got your car for cheap, turned around and had it repaired and sold it at a profit.

  4. Grece wrote, “buying a vehicle is NEVER an investment, as it is a DEPRECIATING asset. New cars lose about 20% of their value as soon as you take ownership. Then they depreciate anywhere from 6% to 13% annually.”

    That’s only considering the purchase price. Since there are no used Solos available at the moment, that’s irrelevant. I will pay the MSRP and like it. It’s the longterm savings which are the return on investment. The depreciation of typical ICEd vehicles ignores the cost of ownership including energy and maintenance. If you consider that, the Solo pays for itself in about five years for my use-case and I get $free transportation for many years after that. That’s quite a different proposition than watching an ICEd vehicle rust in the driveway.

    There is a risk that Solo will fail due to some design-flaw like corrosion, or some critical part that cannot be replaced but I doubt that. I rarely drive on salted roads and the current SUV shows no corrosion whatsoever and it’s made of steel largely. So, I expect the Solo is a good investment returning longer life and lower cost of operation for decades, rather than becoming useless junk in a few years like some ICEd vehicles I’ve owned.

    A Cadillac comes to mind. It was the most comfortable car I’ve ever owned but averaged 11L of gasoline per 100km and could never drive past a service station without costing $300 for the silliest of repairs. It’s alternator needed changing every two years for instance. What’s with that? Oh, yeah. It was built by a company who felt customers owed it a living and would buy whatever had their logo on it. It was eventually “totalled” by a minor collision in a parking lot. The insurance company said it would cost more to repair than it was worth. I believed that.

    I think we replaced the alternator four times, the water pump twice, the oil pump once, the radiator once, the radiator fan twice and the fake leather roof began to curl up… Otherwise it was a lovely car. I like Solo mostly because there’s just less car to go wrong, go wrong, go wrong… Less price, less maintenance, less cost for energy. It’s a wonderful investment in a trouble-free future.

  5. Grece says:

    Well, from what you stated, you seem to be very sure that the stock will be become more popular and two, the stock will be valuable in the near future.

    However, since you lack sincerity and make an excuse as to why you won’t invest, then trumpet the line about risk and not wanting to take anymore risk, leads me to believe that your stocks are already at risk and the Electra Meccanica IPO is a risk in itself.

    Additionally, buying a vehicle is NEVER an investment, as it is a DEPRECIATING asset. New cars lose about 20% of their value as soon as you take ownership. Then they depreciate anywhere from 6% to 13% annually.

    So you see Robert, you are not taking your own advice here.

  6. Grece wrote, “Now explain to us, why you won’t jump on a big deal and backup your words, with your own actions.”

    I am well off but not that well off. I’m going to buy one unit. That’s >$20K invested in the operation, not $200. If I accumulate some cash this summer I would consider an investment in EMV but at the moment I have little cash and lots of equity. I would have to sell shares in a sure thing to make a risky investment. I’ve taken enough risk. I don’t need any more at this time.

  7. Grece says:

    Another Pogson example of skipping the question.

    Tell you what Robert, since the stock is $1 per share, surely you can afford 200, that’s the amount of money you spent on the LeMaker Cello.

    Now explain to us, why you won’t jump on a big deal and backup your words, with your own actions.

  8. Grece, who claims omniscience, wrote, “how would you procure a stock, when no broker-dealer is willing or able to do so?”

    Contact the broker in charge of selling the shares. He/she will state the asking price and your broker passes along a bid. See the prospectus. If $millions are traded this way the stock will be traded normally just for efficiency.

  9. Grece says:

    “Grey Market” is a security that is not currently traded on the OTCQX, OTCQB or Pink markets.

    Broker-dealers are not willing or able to publicly quote OTC securities because of a lack of investor interest, company information availability or regulatory compliance.

    So do tell us, how would you procure a stock, when no broker-dealer is willing or able to do so?

  10. Grece wrote, “no one is going to invest in such a venture Robert”.

    Wrong! They’ve had a number of investors arranged privately. Opening investment up to the public should increase the number of investors. Valuation of the stock is complicated but seems to be around $1/share at the moment. I’d buy a bunch if my money weren’t tied up at the moment. If they do reach a few hundred cars per annum and make a few $thousand per car, 20million shares gives ~ half a cent per share. If they sell a few thousand cars per annum, we’re getting nearly 5% rate of return. It’s interesting. It’s good for the planet. The market is big enough to allow EMV to grow quite a bit.

  11. Grece says:

    YAWN… no one is going to invest in such a venture Robert. It’s been three years, and only one vehicle as left the facility.

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