Saleen is all smoke and mirrors. They have two production mechanics who tune one car at a time and cannot produce more than eight cars per month. It's a joke. To keep posting all this global PR BS to give Saleen the appearance that Saleen is a large automotive concern is completely rediculous. It is pure deception geared to rip off the Auto Enthusiast Investors. Saleen has no business being a publicly traded company. The CEO does not give a dam for his SLNN shareholders, in fact it's just the opposite. He wants to rip them off and he is ripping them off.
The only relevant information regarding Greentech Automotive and Saleen is that they are acquiring Saleen.
They are giving Steve a back door to exit SLNN when it goes bankrupt. Without funding SLNN will go bankrupt.
The bills have to get paid. Saleen does not tune and cannot tune enough cars to pay for their monthly expenses. Just do the math. 20 HC = $100K per month for wages & benefis. The rent on the 250,000 sq ft in Corona is $50K--$60K per month. Insurance, Utilities, Supplies = $50K per month. Sales Expenses = $40K per month. Total = $250K per month at least. Saleen's cost of goods = at least 88%.
If they sell a tuned car for $70K the COGs = $62K and the overhead = $31K per vehicle so they are losing at least ($23K) per vehicle produced. Without funding Saleen is Dead. Bankruptcy will happen without someone lending Saleen more money.
Like I keep saying, Saleen is not a real business and never will be with Steve as CEO.
His goal was to cash out his 167,000,000 shares on the backs of the OTCBB Auto Enthusiast investors.
Now that is only worth $200K. Hard to retire on that. :)
