Saleen Automotive, Inc. (fka SLNN)

[FredVestor]

I'll make it even more clear.

Frederic Lambert is not a troll. He wrote articles about Saleen based on verifiable sources that are linked to the articles.

http://blacksheepplanet.com/index.php/category/cars/

To this day no one has been able to disprove anything he said about Saleen. Only invalid claims about the warranty being void without cause, which was never actually made in the article and things about fake emails, which is even more ridiculous since he would have been sued if he was forging emails in which Saleen was lying.

SLNN is a scam and always been a scam:

In 2013, Saleen Automotive, mostly known as SMS Supercar back then, was in a bad financial situation with $11 million in accumulated deficit, so they went public through a reverse merger. I don't know how familiar you are with reverse mergers, but basically in order to avoid all the red tape that comes with going public, a private company in bad shape is absorbed by a publicly traded shell company. In this case, Saleen received $3 million for merging with David Weiner's shell company W270. In the process, David Weiner and his associates got a lot of shares of Saleen for cheap. Earlier this year, they even changed the conversion rate of the convertible notes held by Weiner and his associates which will result in them owning a majority stake in the company at maturity unless they unload shares as they go which is evidently what is happening since the stock went from $1.00 2 years ago to now just $0.0035.

Now David Weiner does this scheme a lot. These days mainly with pot related companies because there's lot of hype around the sector with the growing popularity of the legalization movement. These companies' stock always go straight up right after Weiner goes in and then crash. Just like Saleen's stock.

Here is a good writeup from Bloomberg on what Weiner did with a few companies: http://www.bloomberg.com/news/articles/2014-06-18/legal-pot-sets-off-penny-stock-frenzy

Here is an easy to understand visualization of the links between Saleen's ownership and 2 of Weiner's companies mentioned in the Bloomberg article: https://i.imgur.com/MnmZNpr.jpg