Saleen Automotive, Inc. (fka SLNN)

[DaReal]

When To File Schedule 13G

The 45th day after the end of the calendar year corresponds to February 14. As with other reporting regimes under the Exchange Act, if the due date of a Schedule 13G (or Schedule 13D) falls on a weekend or federal holiday, the filing still is timely if made on the next business day.

In application, although a qualified institutional investor (beneficially owning no more than 10 percent of a class of equity securities) or an exempt investor may hold more than 5 percent of a class of equity securities throughout a calendar year, a Schedule 13G is due only if that person owned more than 5 percent on the last day of the calendar year.

Doing so minimizes the administrative burden of compliance with beneficial ownership reporting. Most qualified institutional investors can test their securities ownership for purposes of Schedule 13G as of calendar-year end, rather than on a real-time basis.

http://www.law360.com/articles/501953/when-to-file-schedule-13d-vs-schedule-13g

Usually the Lenders avoid a filing by staying below 5%

"Form 13G is used when the filer owns between 5% and 20% of the company and plans to hold it only as a passive investor."
I've some doubt that the Lenders plan to hold a bigger stake in SLNN ...