Saleen Automotive, Inc. (fka SLNN)

[DaReal]

This LOI leaves shareholders with basically nothing.
aka as much as 3%. Saleen has been and still is a failing Business according to their Filings. They burn way more money every month compared to their sales. Now they'll have to give cars out fro free par the Terms. How long will they survive?
Also selling preferred shares in the amount of $8-10M with the given price... hmmm sounds to me like R/S is written all over this LOI and would explain why everything is calculated in preferred shares.

Yes it might spark some interest short Term but read the Terms of the LOI very closely.

Oh and btw, does anybody know who's behind SM Funding Group who (or his designee) will also get a free Black Label Mustang for every $1M of Senior Notes purchased?

As usual, JMHO !!

GL to everybody