Saleen Automotive, Inc. (fka SLNN)

[AutoInvestor]

Why invest in SLNN based on photographs of completed cars?
Look at the 10Q and 10K financial statements. Higher Revenues will not mean a dam thing if the Gross Margins are negative and the loss's are even higher than the last quarter.
Saleen is trending higher and higher COG's meaning lower gross margin. Last quartet the Gross Margin was negative meaning that the cars produced cost more than they sold for.
I highly suspect that the White Label Mustang cost more to produce than the $42K price tag they put on it. So the more of them they sell the greater the losses. The Revenue will go up but so will the losses.

Saleen is in no position to have low margin product. Saleen has so much debt that they need to generate at least a 40% margin to generate enough positive cash flow to pay their bills. Otherwise they just have to keep borrowing money. They have run out of lenders and now they have burned the OTCBB public financing so they are done.
Bankruptcy is evitable.