Saleen Automotive, Inc. (fka SLNN)

[wj2005]

Much MUCH more to this then that. Lol

principal and interest of at least $369,301.69, and seeking appointment, which has not been granted by the court as of the date of this filing, of a limited purpose receiver and a temporary restraining order enjoining us from transferring the collateral securing loan. The main complaint by the Bank stems from our reverse merger that occurred in June 2013 whereby the Bank deemed this event to constitute a change in control, as defined in the loan agreement.

This is due to change in control. Clear as day. They are trying to force payment in full and using the merger as the reason!

Regards :)