Saleen Automotive, Inc. (fka SLNN)

[nightowwl]

SALEEN REPORTS 91% INCREASE IN REVENUE

Saleen Reports Revenues of $1.7 Million, an Increase of 91%

SEC Form 10-Q filed 8-14

Key financial results of operations for the quarter ending June 30, 2014 are summarized herein:

Revenue rose 91 percent to $1,697,377 for the quarter ended June 30, 2014 from $889,904 for the quarter ended June 30, 2013;

Gross margin increased 319 percent to $265,892 for the quarter ended June 30, 2014 from $63,462 for the quarter ended June 30, 2013;

Operating expenses decreased five percent to $1,869,641 for the quarter ended June 30, 2014 from $1,977,855 for the quarter ended June 30, 2013;

Loss from operations declined to $1,603,749 for the quarter ended June 30, 2014 from $1,914,393 for the quarter ended June 30, 2013;

Net income for the quarter ended June 30, 2014 was $2,985,984, compared to a net loss of $2,443,244 for the quarter ended June 30, 2013.

Saleen Automotive Posts First Quarter Results