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This is very interesting. We can now identify a pattern in KBM's deals like the one with SLNN.
Both TWYF and ANYI were in a very similar position as SLNN is in now when they took a loan from KBM. Now look below at their charts since they took the loan.
KBM certainly has a particular pattern when it comes to loaning.
good find. Difficult to tell, a lot of people are named Seth Kramer, but he definitely match the profile.
On the other hand, it seems like this is the kind of deal KBM does. Here another similar loan as the one they made to SLNN:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9928316
Since then TWYF hasn't done well:
Speak for yourself. I'm not touching this with a ten foot pole. There is absolutely no sign of a turnaround.
In the meantime SLNN is going toward new lows. It just hit $0.0600 for a few minutes with a 60k shares transaction.
I think they could still hold up another few months, but the longer they wait the more people will lose money over this.
My question is why go into all this trouble for $30k? SLNN is burning as much almost every other business day. They need millions, not thousands...
By the very nature of being the last reported information, it is not out-dated. It will only be out-dated once they will report the new financials in november.
By your logic every financial information would be useless since they always report a quarter a month after it is closed.
But of course. You can only work with the last reported numbers. It would be illegal for an outsider to have access to any other information unless it is made available to all.
You are aware that SLNN publishes financial statements as it is required of them by the SEC?
You can find all of them right here on their site:http://www.saleenautomotive.com/investors.html
Just download their last 10-Q and you will find all the information AutoInvestor just mentioned.
Also the numbers are not to the penny, but to the dollar.
This is an investor website. I think it's safe to say that so far the bears have been right on SLNN. Confirmed by the continued falling stock price.
You can now add to the long list of Saleen’s projects…… a tuned version of the Corvette.
It looks like SLNN bought itself a few more weeks. Maybe enough time to delivers a few "416", who knows. I just hope for investors that they will not default on that one too because it's one of the worst loan terms I have ever seen, but it's still a miracle they managed to get one.
Does anyone knows specifcs of the note holder? I didn't get much from a quick google. It looks like another marketing firm... I can't take seriously any organisation with "worldwide" in their name. PRESTIGE WORLDWIDE!
I think warmachine is referring to Ford building the Mustangs, not Saleen.
The resistance or maintaining you speak of is artificial. If you look at the daly charts for the past month, any kind of volume brought the stock down. the little surges in pricing like you see today are done on a few hundreds dollars worth of shares. sometimes even just $50.
Again today: the stock went down on +30k shares and then drastically up on just 5k. That's $365. The only resistance we see is wash trading. When it will stop. The stock will crumble. Even more than it already has. ($1.00 to $0.05)
False. I'm referring to the article you linked in your original comment and called "buzz".
I'm not looking for more information. I'm stating that there is no buzz from Saleen new preview of a preview. there is simply an updated article on a website that think they will show the car tomorrow which isn't even true.
Buzz?
the article you linked is 3 months old. The only "new" thing is the following update added to the article yesterday:
Correct. It's as if someone is trying to artificially increase the last sell price to facilitate dumping shares.
It doesn't change my opinion that a preview of a preview is redundant.
While Saleen releases previews of previews, its stock continu to bleed and this week it broke the little resistance it had at $0.07
I don't care if anyone has done it before. My opinon is that it's redundant to make a preview of a preview of a product.
Also note that the viper preview appears to be for the unveiling of the vehicle and not just a rendering...
A second preview of a rendering? Why even preview a rendering? I'll argue that a rendering is a preview of the car, so they are basically making a preview of a preview. This is Saleen in a nutshell.
Just show the rendering already...
Yeah and beyond the fact that the price is dropping, only 3 trades were executed today. this is ridiculous. 3 trades in one day for a total of $3600 changing hands.
Also the spread closed at 0.001 and below the last sell price...
Do you understand that by saying that wash trading doesn’t exist on stocks, you are saying that it’s literally impossible for someone to have 2 accounts with 2 different brokers and place a buy order with one and a matching sell order with the other?
What is so difficult to believe about this?
That wasn't the question he asked.
The price sheet is available online: http://media.saleen.com/wp-content/uploads/2014/08/FOURSIXTEEN_Order_Form.pdf
Saleen doesn't have nor need Tesla's approval. They already annouced pricing; $152k for just the car with the body kit and up to $230k woth everything... Roughly double of what tesla charges for an arguably better car.
Correct. That's what I was trying to say. SLNN highest gross margin were when they were working on the movie for obvious reasons. Things like that are way too sporadic to be accounted for. SLNN should focus on Mustang if they at least want a chance at survival. All their other projects show how ineffective they are...
I was aware you were talking about pricing. My comment still stands. You can't compare a tuner's business model with an auto manufacturer's.
and again wrong. A stock swap has nothing to do with a wash trade. A stock swap is when your stock are converted to another company's stock after an acquisition.
http://www.investopedia.com/terms/s/stock-swap.asp
It's not illegal and has nothing to do with wash trade...
You are comparing Saleen with auto manufacturers. Saleen hasn't been an auto manufacturer since they stop producing the S7 back in 2009. They are now an auto tuner and after market part manufacturer. You can't compare Porsche to Saleen. You can't compare Tesla to Saleen.
Now who is twisting things?
Yes, Saleen could definitely improve its gross margin with the 416 considering it is overcharging the hell out of it. The starting price at $152k is only for the body kit and the stock P85. $58k for a body kit, they could definitely make a good profit.
Although like you, I don't see a big market for it. If someone want a high performance Tesla they will go for a P85+ directly from Tesla so they can keep the warranty, the great service and not buy a car from a company with only $27,000 in the bank. They would also pay half the price for a maxed out P85+ against a maxed out 416.
and the sound, god the sound is awful...
The only thing that can save SLNN is a big investment. If you want my advice, buying SLNN right now is trying to catch a falling knife.
picture or it didn't happen... Also have you ever driven a P85 to compare at least?
Also we all know it exist, we are just saying it's not in any way better than a P85 or P85+ which cost half the price.
SLNN doesn't breakdown its revenue in categories, so we don't know for sure what is the gross margin per car.
Last reported quarter 30-june-2014, SLNN had 0.26m of gross margin on 1.67m of revenue. So Saleen had an overall gross margin of about 16% last quarter.
if you look here: https://ca.finance.yahoo.com/q/is?s=SLNN SLNN's gross margin has been going down steadily for the past 4 quarters. From $354k 30-sept-2013 to last quarter $265k.
Rule 10B-5
There is no specific law mentioning wash trade, because it's a specific term use to describe a specific form of stock manipulation. All forms of manipulation of stock are illegal.
For wash trade, the SEC uses rule 10b-5 which englobes all forms of manipulation:
I can't believe I have to point out something so obvious:
sure, so in this case with the SEC the defender settle because there is "no such things as wash trading a common stock". that's what you are saying? He accepted to be barred from any work in trading security ever, because he did something that doesn't exist?
http://www.sec.gov/litigation/admin/3439133.txt
Keeping ignoring the evidence doesn't make it less true.
this case clearly states an illegal wash trade on a common stock: http://www.sec.gov/litigation/admin/3439133.txt
In these 2 encyclopedias states clearly that wash trades apply to all financial instruments:
https://en.wikipedia.org/wiki/Wash_trade
http://www.investopedia.com/terms/w/washtrading.asp
All you can provide is a rule that says it applies to options, but this only mean that it ALSO applies to option contracts. Which brings nothing new to the table since we already know it applies to ALL securites!