Saleen Automotive, Inc. (fka SLNN)

[realsmoka5]

read this form from 8k. they have till may 15 to r/s.. maybe they trying to boost
price up as high as possible then r/s


Saleen shall use its best efforts to file a Schedule 14C Information Statement (the “Information Statement”) with the Securities and Exchange Commission (“SEC”), no later than March 31, 2017 (the “Filing Date”), with respect to the approval by its shareholders of an increase in its authorized shares common stock, so that Saleen will have a sufficient number of authorized and unissued shares of Common Stock to enable it to issue shares of common stock constituting 60% of its fully-diluted outstanding shares of common stock and preferred shares, if any, after giving effect to such issuance (the “Recapitalization”). Saleen shall thereafter use its best efforts to effect the Recapitalization and a reverse stock split of its common stock (“Reverse Split”) as soon as practicable, but in any event not later than May 15, 2017 (the “Recap Date”). If the Information Statement has not been filed with the SEC by the Filing Date (other than as a result of the failure of SMF to comply with its obligations under Section 2 below) or the Reverse Split and Recapitalization are not effected as of the Recap Date, interest on the Note shall increase from 12% to 15% per annum, which shall thereafter be paid in accord with the terms of the Note. Attached hereto as Schedule I and a made a part hereof is a true and correct Capitalization Table given (i) as of this date and (ii) on a basis which fully reflects the Reverse Split and the Recapitalization

https://www.sec.gov/Archives/edgar/data/1528098/000149315217002596/ex10-1.htm