Saleen Automotive, Inc. (fka SLNN)

[wj2005]

LOL... Ok how about this:

They will either fill for bankruptcy and GreenTech, Weiner and Knoll will get first dibs through their first liens on Saleen's assets or they will merge with another entity

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=113942483

Well thats not what happened!

It's clearly a takeover, just like I said the other day, but how did I know that?

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=113936925

Nope, not true either.

they are setting up the company to go bankrupt

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=113938063

Wrong again!

So you see, what was being stated was they would be going BK time and time again! Then Greentech would pick up the rights to Saleen and continue on when that is simply NOT the case at all.

This is the way I see it:

They were working out all the details on the IP rights between when the $500k note was issued and when the agreement was signed. Now that the agreement is signed, the $500k was satisfied because that was the upfront cost of the license agreement. The rest of the specifics in the note I am guessing were only there in case they didn't work out the license agreement.

Now this is how I see this playing out:

Saleen signed the agreement with Greentech to allow them to sell anything to do with the Saleen name anywhere BUT North America, Europe, Australia & Middle East. Saleen already has setup with a dealer in Australia that converts them from left to right hand drive so there was no need to give that territory up.

This will allow Saleen Automotive to focus on the areas they are already selling vehicles to and Greentech to expand to the areas they are not. There is HUGE potential here for both Saleen Automotive and Greentech/SMI.

But for Greentech to put up $500k then can see the real value in Saleen and the areas they can promote the Saleen Branded vehicles to.

Regards :)