Saleen Automotive, Inc. (fka SLNN)

[BigBake1]

Lets get the FACTS out there, the Issuer which is Saleen is a previously revoked security, it was revoked because it failed to file timely reports that are required by the 1934 Act. We can all read the SEC notice of the 12j process here:

https://www.sec.gov/litigation/admin/2017/34-81869.pdf

So, in order to trade again the issuer must register with the SEC again, we can clearly see on SEC EDGAR that Saleen did in fact file their 10-12G on February 8th of this year, however it has to go through a process before the registration is considered "effective".

The notice of effectiveness is a public declaration by the Securities and Exchange Commission that a public company's registration statement has been accepted.

For shares in a public company to trade on the open market they must be registered by the company. These registration statements are reviewed by the Commission for a period of time before approval is given, and this notice marks the successful completion of this review process.

Here is what we can clearly see, Saleen has no "Notice of Effectiveness", they did not achieve gaining effectiveness of their registration through the SEC. So it cannot trade until it does. That is also why we know there is not an approved Form 211, without effectiveness a broker dealer cannot sponsor and submit a Form 211.

FINRA performs a similar process of verifying and validating information provided through the sponsoring broker dealer. If FINRA is satisfied with the information provided it will approve the Form 211 and assign a ticker symbol and allow the Broker Dealer to quote the security. YET AGAIN, CLEARLY PROOF THAT THEY WERE NOT APPROVED. FINRAs own Daily List does not show an approved ticker for Saleen, there are no quotes allowed for this security because there exists no approved Form 211. That is a FACT that cannot be disputed, the Daily List shows no such approval.

A company MUST BE CURRENT DURING ALL OF THIS PROCESS, this security is clearly not, anyone can look at the SEC EDGAR site and see Saleen is dark, it failed to file the required 10K on July 1st of this year. Likely because they could not achieve the Notice of Effectiveness through the SEC.

https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001528098&owner=exclude&count=40&hidefilings=0

Filing requires money and resources and the company is no longer supplying that EFFORT and why would they continue wasting money when they are not going to get a "letter of effectiveness" from the SEC and or an approved Form 211 from FINRA?

So a RECAP:

1. No Letter of Effectiveness from the SEC
2. Stopped Filing and have gone dark
3. No approved Form 211
4. Cannot trade without a Form 211, no quotation allowed
5. Form 211 requires being current with the SEC and an effective Registration

IT IS NOT EVER GOING TO TRADE AGAIN!