I feel like I'm repeating myself, but anyone can contact Saleen (pr@saleen.com) or Tesla (press@teslamotors.com) to verify any of the claim made in Frederic Lambert's article.
I don't believe anyone has taken me up on that offer (I wonder why?), but it's right there, just an email away and anyone can have first hand confirmation that everything the Saleen article is true.
None of this matters anyway. No matter what happen SLNN will go down. There's just too much shares being converted right now. it's crazy. I've been saying it for the past 10 months since Saleen started to issue those notes.
Now right after the first note converted (April 15), the stock traded heavily, broke it's support and then went sub-penny for the first time shortly after. Does anyone think this is a coincidence? That right after the first toxic note is converted the stock went down so hard? Stock lost 40% of its value since the share converted. 40% happens to be the discount JSJ Investment got on SLNN's shares from their first note.
Now in the next 3 months you have a bunch more note just like that coming. Just the 3 notes held by the Kramer brothers (KBM), if they were converted today, they would get 56 million shares. Can you imagine? 56 million shares in queue to be sold.
SLNN was a bad investment at $1.00. it was a bad investment at $0.50. it was a bad investment at $0.30. it was a bad investment at $0.10 and it is still today a bad investment.
I would stay away.
