New TVR still under wraps!
Discussion
scotty1 said:
Based on the below from the website I would assume the money is safe and perhaps in escrow or something similar. To have used the depositors money for anything other than proof of intent would have been seriously bad form. I’ve only just caught up here but I will be phoning first thing tomorrow to get some facts.
Is my money at risk?
No – we would never allow that to be the case. We are well funded, and are here to stay! The deposit line has opened in response to a large number of requests from potential customers wishing to place a deposit on the basis of the information currently available both in the motoring press and on our website. If you do not consider this to be sufficient for you to decide whether or not you should place a deposit, we recommend you do not do so. However, if you pay by credit card, your payment is guaranteed by the credit card company.
That quote says almost explicitly that deposits are *not* protected other than by faith and - maybe - the credit card company.Is my money at risk?
No – we would never allow that to be the case. We are well funded, and are here to stay! The deposit line has opened in response to a large number of requests from potential customers wishing to place a deposit on the basis of the information currently available both in the motoring press and on our website. If you do not consider this to be sufficient for you to decide whether or not you should place a deposit, we recommend you do not do so. However, if you pay by credit card, your payment is guaranteed by the credit card company.
Well, this being an Internet forum and I don’t have to face any of you in real life. Let me tell you where I stand.
Assumptions of the company’s finances are just that, assumptions, backed with online searches by keyboard Columbos to give these assumptions credibility.
Everybody would like regular, timely updates but spouting half-baked accusations to coerce Les to write an email is just embarrassing.
Knock the car by all means but don’t have a go at the people that are ‘having a go”.
Personally, if TVR fails and as a consequence, I and others lose their deposit because some of you were right - well whoop de doo - well done you! The pain I will feel is not having a tvr in the garage not having £5k less in my bank.
So, in closing, I am getting really bored of the speculation and I have no desire to argue with anybody either because I won’t have any facts to back up my feelings. Chances are neither will you.
Assumptions of the company’s finances are just that, assumptions, backed with online searches by keyboard Columbos to give these assumptions credibility.
Everybody would like regular, timely updates but spouting half-baked accusations to coerce Les to write an email is just embarrassing.
Knock the car by all means but don’t have a go at the people that are ‘having a go”.
Personally, if TVR fails and as a consequence, I and others lose their deposit because some of you were right - well whoop de doo - well done you! The pain I will feel is not having a tvr in the garage not having £5k less in my bank.
So, in closing, I am getting really bored of the speculation and I have no desire to argue with anybody either because I won’t have any facts to back up my feelings. Chances are neither will you.
m4tti said:
skwdenyer said:
That quote says almost explicitly that deposits are *not* protected other than by faith and - maybe - the credit card company.
I’m pretty sure when we reviewed the small print on this before that deposits aren’t covered under the credit card guarantee ps.: i also very much agree with Testarossas last post.
Their plan presumably was to get up and running with the prototype, hype with Le Mans etc and get the big investment when it all becomes more tangible. As I’ve said it’s small beer to many funders particularly with the kudos of the product so hopefully all will be ok, but Brexit and uncertainty (panic) over the recent climate change news may put off some of the interested parties.
A very great shame though that they have to be so hard pressed to give any updates to the deposit holders who are after all part funding them.
A very great shame though that they have to be so hard pressed to give any updates to the deposit holders who are after all part funding them.
. I guess Rick Wakeman lost his investment .
Testarossa said:
Well, this being an Internet forum and I don’t have to face any of you in real life. Let me tell you where I stand.
Assumptions of the company’s finances are just that, assumptions, backed with online searches by keyboard Columbos to give these assumptions credibility.
Everybody would like regular, timely updates but spouting half-baked accusations to coerce Les to write an email is just embarrassing.
Knock the car by all means but don’t have a go at the people that are ‘having a go”.
Personally, if TVR fails and as a consequence, I and others lose their deposit because some of you were right - well whoop de doo - well done you! The pain I will feel is not having a tvr in the garage not having £5k less in my bank.
So, in closing, I am getting really bored of the speculation and I have no desire to argue with anybody either because I won’t have any facts to back up my feelings. Chances are neither will you.
Straight to the point Assumptions of the company’s finances are just that, assumptions, backed with online searches by keyboard Columbos to give these assumptions credibility.
Everybody would like regular, timely updates but spouting half-baked accusations to coerce Les to write an email is just embarrassing.
Knock the car by all means but don’t have a go at the people that are ‘having a go”.
Personally, if TVR fails and as a consequence, I and others lose their deposit because some of you were right - well whoop de doo - well done you! The pain I will feel is not having a tvr in the garage not having £5k less in my bank.
So, in closing, I am getting really bored of the speculation and I have no desire to argue with anybody either because I won’t have any facts to back up my feelings. Chances are neither will you.
m4tti said:
I reckon get Elon Musk in, offer a token electric version and some weed smoking eccentricity and cash from the Musk 
TVR powered by Tesla. Shudder the thought, but desperate times call for desperate measures
TVR powered by Tesla. Shudder the thought, but desperate times call for desperate measures
..jeeeez...I’ll stick to suckin dry my vineyard me old chum while you continue to stick ya head in ur bong..UTTER TOSH from the doom-merchants this weekend chaps.
Must try harder
Pass me the ‘wet~button’ please ‘Max’ n stick it up ‘AD’s backside... sideways..!!
m4tti said:
I reckon get Elon Musk in, offer a token electric version and some weed smoking eccentricity and cash from the Musk
TVR powered by Tesla. Shudder the thought, but desperate times call for desperate measures
Feck me, that's enough to make me reach for a large one and shudder!TVR powered by Tesla. Shudder the thought, but desperate times call for desperate measures
Although I would have a leccy runabout, imagine my drepidation and smile as I fired up my newly rebuilt 5.5 this afternoon. Noise, occasion, fantastic! An electric TVR, I don't think so......
Surely that's what we are looking for in the new griff.....
phazed said:
Feck me, that's enough to make me reach for a large one and shudder!
Although I would have a leccy runabout, imagine my drepidation and smile as I fired up my newly rebuilt 5.5 this afternoon. Noise, occasion, fantastic! An electric TVR, I don't think so......
Surely that's what we are looking for in the new griff.....
Needs must Peter, if the well is running dry it’s time to lure in some big hitters Although I would have a leccy runabout, imagine my drepidation and smile as I fired up my newly rebuilt 5.5 this afternoon. Noise, occasion, fantastic! An electric TVR, I don't think so......
Surely that's what we are looking for in the new griff.....
phazed said:
Feck me, that's enough to make me reach for a large one and shudder!
Although I would have a leccy runabout, imagine my drepidation and smile as I fired up my newly rebuilt 5.5 this afternoon. Noise, occasion, fantastic! An electric TVR, I don't think so......
Surely that's what we are looking for in the new griff.....
Ooh my goodness that is sexy.. Still fancy that TD at brands phazed? I simply must have a closer look at this Although I would have a leccy runabout, imagine my drepidation and smile as I fired up my newly rebuilt 5.5 this afternoon. Noise, occasion, fantastic! An electric TVR, I don't think so......
Surely that's what we are looking for in the new griff.....
AUTODESIGN said:
The latest 'informed' rumors are that the next announcement will be that the project will be put on hold ! Apparently there is an issue with the welsh government/ the new factory and relationships with Gordon Murray are at a low. The investor capital and deposit holder funds have been used up to get the project this far. Les has had numerous recent meetings with potential overseas investors. Lets hope these are fruitful and the investors do not read this blog! For a deposit holder now this is more like a black or red bet in the casino as to whether they see anything back. Sorry to be the bearer of bad news but my sources are close to whats happening. I wish they had managed this whole business differently and not taken the huge gamble to run the project on a shoe string (albeit a £5m shoestring!) and then try raise money at this stage. it looks bleak in my opinion.
AUTODESIGN said:
There seems to be a lot of speculation that I have some axe to grind or simply spreading malicious rumours . I am purely after is the truth and to ensure deposit holders are not left out of pocket . However the more I read and hear , the more I am convinced this company has minimal working capital left . Sadly , I have a strong feeling that deposits have been used to finance it so far. This would be perfectly legal . I believe that the management have taken a huge gamble in the hope of securing extra funding at this stage rather than at the start. Should this not materialise all well and good, but personally I fear the worst . One car , no demonstrators , press coverage ,announcements/ updates or factory . What will it take for some people to question things ?! I post on here because I would like the company to react . But they don't and it speaks volumes .
As far as I am concerned, you’re a one man rumour mill. Unless you offer support, for any of the above statements, YOU ARE the reason potential investors hopefully don’t see these pages. Certainly, it’s too easy to make yourself appear to be protective, when you’re just a gossip monger. If your “sources” are not in an accountancy role, or have an actual view of the books, they should probably shut the f
k up. Unless I’m mistaken, the deposits were being held in an account similar to a trust or escrow, that the company did not have direct access to, although they would be able to borrow against it. If this is true, I hope it opens you to a libel suit, for defaming directors for financial improprieties.
B
Edited by Slow M on Sunday 14th October 22:13
Testarossa said:
Well, this being an Internet forum and I don’t have to face any of you in real life. Let me tell you where I stand.
Assumptions of the company’s finances are just that, assumptions, backed with online searches by keyboard Columbos to give these assumptions credibility.
A limited company issues accounts so you don’t need to make assumptions, you just read the accounts. That’s why they are in the public domain. Assumptions of the company’s finances are just that, assumptions, backed with online searches by keyboard Columbos to give these assumptions credibility.
People are making assumptions that their deposits are safe. Now that is an assumption as the accounts appear to be silent on that subject.
A business like this needs a lot of cash. If a business is adequately funded people don’t usually have to “put the farm up “ at a relatively late stage as collateral.
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