Saleen Automotive, Inc. (fka SLNN)

[BigBake1]

Because the NASDAQ has "listing" standards that this company couldnt meet, never mind they did not qualify for any "institutional" investors because they were already in financial trouble when they RMed into this OTC shell. That should have been a big enough red flag.

They can only get Toxic grade financing at this point which does nothing for the bottom line here. It just prolongs the inevitable at this point. They are already in default on every note they have including a note to his own daughter, should be a clue as to how bad things really are.

Some of these toxic notes were going to get 40% discount to market price, but because that floor price has already been reached the terms are now going to be even stiffer. They have already approved a raise in the AS to 2.5 billions shares to accommodate further debt conversions as required by Nevada law.