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I was look at my port and remembered something quite funny:
Nope. The first 8K clearly stated the amendment to their bylaws to cede their IP rights in case of BK, royalties will be their payment if GT sell Saleens
It was payment to amend their bylaws to cede their IP rights in case of BK, royalties will be their payment if GT sell Saleens.
How come they are financing through their operation if you concede they are losing money from operation?
Why does it matter, obviously the ask is always hiding.it has been the case for a month now. the bid could outweight the ask by an order of magnitude and it would still mean nothing.
Dumpers are not dumb enough to show their hand.
come on, just a few weeks ago they needed $500k. apparently they couldn't get that from operation? The quarter before that they also needed $500k, couldn't get that from op?
I guarantee we will see loss from operation on filings next week. No doubt.
This doesn't give Saleen (the company) any more money. they will still need a ton of financing. A takeover is still not out of the picture.
And his new found majority holding will not last long. Just today KBM can start converting up to 60 million more shares and another 100 million July 6th.
The bigger picture is not looking good.
This argument about bashing to pickup shares lower is not only invalid, it is also pure speculation base on exactly nothing.
If the stock is again at an all time low it is certainly not because of "bashers", but because the CEO just paid himself a number of shares greater than the current outstanding shares, which is extremely suspicious.
This is saying that PR is the only way to pump a stock which isn't true. Saleen did the PR thing when it first went public. They announced ridiculous things that never happened. The electric car with AC Propulsion. never happened. The national ad campaign. never happened. All the PR about NA auto markets like it would trickle down to them and so on.
This didn't workout too well for Saleen.
Now the pumping is not directly from Saleen, but from the note holders who are getting converted shares and want to dump them.
How many time do we have to say it. This is misinformation. Short volume doesn't mean that people are shorting this stock. Not even close.
SHort volume is not short interest.
I suggest reading this good primer on the difference between Short Volume - Short Interest and why short volume is a meaningless data on the OTC
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=108310909
He was owed for his unpaid officers’ salary and goes knows Steve gotta get paid. I mean his OTC investors lost $50 million in value in the last 2 years, but he still finds a way to get his salary paid.
No "toxic debt" got erased here. He just exchange his unpaid salary for more share since it's the only way the company can pay him...
This thing is getting more and more ridiculous by the minute. The new O/S is now 260,907,311 shares and Saleen just paid himself 302,133,875 shares. Like predicted SLNN will have to file to authorize more shares.
2 or 3 total in the quarter?
There are 3 or 4 guys in Saleen's prod. this combined with supply chain constraints they simply cannot tune more than 5 cars per week and this is WAY TOO FEW to sustain SLNN's burn rate.
come on. "2 or 3" would be few, but "less than 5" is not? This is ridiculous.
No it's not more. It's certainly too few to sustain Saleen's ridiculous burn rate.
I admit "few" is ambiguous. Lets put it this way: The earnings report next week will show that Saleen tuned less than 5 cars per week.
You don't even answer my question, but you want me to answer 10 of yours?
But seriously, how great do you think that quarter will be? For sure they will lose around $1 million from operation. there's no doubt there. Then they will also have something like $600k in interest expenses. They might counter with some extinguishment, but it still will be extremly poor.
lol Wikipedia is not a source. Wikipedia is an aggregator of sources. What's their source on the S8?
Can’t have different views on a fact. You cannot “squeeze” short volume. this is a fact. These trades have already been cancelled out.
Short interest would be the data to look at for a possible squeeze which is not happening on SLNN
I suggest reading this good primer on the difference between Short Volume - Short Interest and why short volume is a meaningless data on the OTC
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=108310909
PLease again. this data is short volume. you can't squeze out short volume.
Short volume doesnt mean short interest. There's no short interest on SLNN: http://www.otcmarkets.com/stock/SLNN/short-sales
oh please Saleen has been public for 2 years. Anyone with a will to invest in SLNN had plenty of opportunities ;)
it's just a numbers game at this point and at the end, anyone holding will get burn.
How the f*** would I know? And anyone claiming they do are lying.
It wouldn't change a thing. The amount of manipulation of this stock dwarfs the number of actual investors or even traders...
lol we have been hearing this for 3 weeks now and it only traded sideways and even reached all time low at some point.
This whole thing for the past 3 weeks is just an effort to help convertible notes holders unload their shares. Nothing more.
It doesn't give any detail. Absolutely nothing more than the 8K.
How is it great news? Or even news for that matter? It's exactly the same thing that was said in the 8K last Friday....
The fact that people still use this argument about an OTC stock falling is completely beyond me. Anyone with a little understanding of the stock market knows the difference between short volume and short interest.
Short is not the problem with SLNN.
exactly right... plenty more time to keep falling.
I never said when it will happen. It can and will happen. The amendment still stands. That's a fact. This is clear to anyone who doesnt have a financial interest in SLNN. The fact that they sign a licensing deal change nothing. On the contrary it shows that they never had any intention to convert the note into shares and therefore the conversion rate meant NOTHING. Which is not what you are saying.
This is completely inaccurate. The original agreement to cede their IP rights in case of a bankruptcy was an amendment to their bylaws and therefore stand until being amended again. Which hasn"t happen.So Saleen would still lose all right to the IP in case of a bankruptcy so threat is still very there.
You said quite clearly that they planned to convert the share at $0.02. That is the only thing that was false. The rest is still very much a possibility.
You forgot to mention that the first lien note came with a provision stating that Saleen amended their IP rights to cede all claims in case of a bankruptcy. That's a weird amendment to make isn't it.
And BTW this is the MAIN reason (below) why Saleen isn't worth anything because lets be honest here, the stock started falling way before toxic notes started converting. Actually way before they were even issued:
You just have to look at the past 2 weeks. Saleen has seen volume 20 times what it use to see and a bunch of "new poeple" came to the board, what most would presume new buyers, yet the stock lost 20%
How come a massive increase in volume over a 2 week period plus what appareas to be a significant increase in players and yet the stock loses 20%?
I never said the company is fake. I just said it is not nearly what it portrays to be. It is a real company. A real company setup to create a pump and dump scheme.
Lol please take a look at who "likes" saleen on their facbook page. It's obvious most of those likes were bought: http://www.buylikesandfollowers.net/buy-facebook-likes-cheap.html
Just look at the Saleen forums, posts are few a far apart...
They are not working with Tesla this is a complete lie.
Wow really?
I should go read the 8K? I?
There you have it. The Greentech note had nothing to do with converting shares. bulls were boasting about Geentech agreeing to a $0.02 conversionn price as if this was an indicator of future price. Like I said, this note was always about securing Saleen's IP, not converting shares, and now they did it. Exactly like I said they would.
The important part here is:
This is false. Not even half of the notes have converted yet. You still have notes maturing all the way through October. Saying that all the notes have coverted is plainly false.
Just this one matures on June 18, how can it be already absorded? http://compliance-sec.com/secfilings/company/slnn/link_files/2014/09-29-2014/Form8-K(09-09-2014)/Form8-K.pdf
This is one of many...
That’s only the notes that have yet to convert. On top of that there’s absolutely no way of knowing for sure that the notes that have converted have already been sold, so again this is a dangerous assumption.
There’s been ton of fake volume. We’ve seen crosstrades of as much as 12 million shares. When you take crosstrades into account, volume wasw ay lower.
Don’t be fooled everyone. The ask has been thin for weeks yet the stock is not running and still hitting new lows every week. This is because market makers are hiding orders from recently converted notes. Be aware of manipulative trading to mimic volume.