Saleen Automotive, Inc. (fka SLNN)

[AutoInvestor]

True, Saleen was able to borrow $2.5M from five lenders at a high interest rate and guaranteeing that if they default on the notes that the interest rate jumps to 24 %
and they get Saleen shares at below market price . Also, Saleen will have a much more difficult time borrowing money again . All of it's limited assets have been pledged to it's lenders .
Even the one S7 has been borrowed against .
The $2.5M they borrowed has been spent paying back due payroll taxes and delinquent older loans.
So now when the 10Q is published this week , the debt will be higher.

The "Going Concern " statement from the CPA's clearly states that Saleen must rely on selling enough stock at a high enough price to raise enough money to pay it's bills.
My question is why would anyone invest in this company ?

These comments are my opinion . Please research and invest based on your conclusions.