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Re: ronshappy post# 7702

Saturday, 06/13/2015 1:32:43 AM

Saturday, June 13, 2015 1:32:43 AM

Post# of 32167
OK so Saleen ends up selling distribution and IP rights to Greentech Automotive for $500K
which they already spent on chassis. How now is Saleen going to fund itself? Based on the last 10Q, Saleen
is losing ($814K) per month. So even if they laid off 10 employees and tightened their belt they are still spending $500K---$600K per month. Who is going to fund that? Who is going to pay down the rest of the delinquent debt to the bank? IRS? Vendors? or the Ford Dealership lawsuit?
Still do not see a path to avoid bankruptcy.
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