Saleen Automotive, Inc. (fka SLNN)

[nightowwl]

Wow this is getting bashed hard.

If Steve Saleen really is as bad an apple as ya'll make him out to be, I would have expected to find more dirt. But the only bankruptcy link I can find is the bankruptcy protection filed by Saleen, Inc. - after Steve left the company.

The the two outstanding lawsuits are documented in the SEC filing. On a positive note, he's not trying to hide the info like some of these other OTC CEO's.

This next issue is a concern, sure - but isn't insufficient funding a concern of the majority of OTC companies?
Form 10-K filed 6/30/2104:
'Our ability to continue as a going concern is dependent upon our ability to raise additional capital and to ultimately achieve sustainable revenues and profitable operations.
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However, additional funding will be needed to continue operations through September 30, 2014. In addition, we will need and are currently seeking additional funds, primarily through the issuance of debt or equity securities for cash to operate our business beyond September 30, 2014. No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory to us. Even if we are able to obtain additional financing, it may contain undue restrictions on our operations, in the case of debt financing or cause substantial dilution for its stockholders, in case or equity financing.'

I picked up some cheapies - what's life without a few risks :P