Saleen Automotive, Inc. (fka SLNN)

[FredVestor]

OK now this a untrue. Plain and simple.

Yes he is... There is not ONE person that owns more then him.

First of, these are 2 different things. Saying "yes he is" to my statement:

Steve Saleen is not a majority shareholder anymore.

Is not the same thing as saying "not ONE person that owns more then[sic] him".

You can not be a majority owner and still be the single biggest shareholder of a company. Which is the case for Steve Saleen at SLNN since the company changed the conversion rate of their senior note down to $0.02.

This unequivocally dilutes Steve Saleen's shares of the company to below 50%

See 8K: http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=10437404-1017-7506&type=sect&TabIndex=2&dcn=0001493152-15-000307&nav=1&src=Yahoo

On January 23, 2015, we entered into a Second Amendment to Saleen Automotive, Inc. 3.0% Senior Secured Convertible Notes (the “Note Amendment”) with each of the holders (the “Noteholders”) of our outstanding 3.0% Senior Secured Convertible Notes issued as of June 26, 2013, as amended (the “Outstanding Notes”), pursuant to which the parties agreed to amend the conversion price of the Outstanding Notes to the lesser of (i) $0.075 (subject to adjustment as provided in the Outstanding Notes) and (ii) 70% of the average of the three lowest volume-weighted average prices or our common stock occurring during the 20 consecutive trading days immediately preceding the applicable conversion date, subject to a floor of $0.02.