Without Financing Saleen is DEAD, in my opinion:
1) Saleen's Credit is Burned with the Banks due to Delinquent loans still unpaid and a pending lawsuit from
Citizens Bank.
2) Saleen is Burned with the Equity Markets now that the SEC is chasing them down for deliberately violating
their obligations to their shareholders. Ignored the Shareholders, SEC and FINRA by not publishing
8K's, 10K & 10Q's
3) Saleen is Burned with the Automotive Vendors who supplied parts for cars and were NEVER paid
4) Saleen is Burned with their Customers who put down Deposits and may not ever see the cars they ordered
or get their deposits back for a very long time, if ever.
5) Saleen is Burned with Private Investors who put up $2.5M in June and cannot sell their Billions of Shares
purchased at a discount. No recovery possible now.
How is Saleen suppose to build cars without buying parts?
You need CASH to run a business and Saleen has NO access to any.
Under these circumstances, what customer is going to put down a deposit?
Their are not enough fools out there to keep a Ponzi scheme going, in my opinion.
