Saleen Automotive, Inc. (fka SLNN)

[DaReal]

You assume they converted the 50k Note in full.
Usually they don't do that, they convert in Tranches in order to maximize their gains.
Per the given stock price and the Terms of the Note they will convert at a 42 Discount of the lowest 20 day trading price

“Conversion Price” means the lower of: (i) a 42% discount to the lowest trading price during the previous twenty (20) trading days to the date of Conversion; or (ii) a 42% discount to the lowest trading price during the previous twenty (20) trading days before the date that this note was executed.

Mature Date of the first 50K JSJ Note was April 15th and the next one will Mature on 2nd June, after that the KBM Notes will come due.

So with a Stock price at ~1ct the convert in the .005's the more it drops the more shares they will get for their loaned $.

Death Spiral Financing at it's best... Be prepared for tons and tons of shares to hit the market in the coming weeks/months.

If the Co doesn't find a way out of these Toxic Contracts the Stock price will decline even further and the next step will be to raise the A/S since they will run out of shares very fast.

JMHO