Sales of SLNN shares on the OTCBB will not
generate enough converted loan recovery for Weiner.
There are not enough potential buyers of SLNN stock.
Even the auto enthusiast are wary of Saleen by now.
The Tesla hype fizzed out and now the 2015 Mustang
has failed to raise enough buzz. SLNN avg daily shares
being traded has dropped like a rock to about $1,700 per day traded
over the last two weeks when it should have been increasing
with the new 2015 Mustang platform.
Saleen has one bullet left in the chamber--
the 2015 Black Label Mustang . The car was announced but missed
it's targeted launch date.
From Weiner's perspective, someone needs to cover
Saleen's ($814K) monthly negative cash flow to
make payroll and pay the bills. WHO?
Will Weiner foot the bill in order to salvage the couple of
Million he has already invested ?
If he try's to take Saleen private he needs to
payoff the current shareholders and foot the monthly
$814K bill to continue operations. He also has to worry
that the IRS, Bank,Customers,Vendors and other
Lenders do not drag Saleen into bankruptcy court first.
He will need to partner with a deep pocket investor
who believes in Steve's business plan to take Saleen private.
I do not see this happening. I think the customers who put down $1M+ of deposits
are going to demand their cars or refunds and that will be the end for Saleen.
No public or private solution now.
These comments are my opinion.
AI
