It is not produced anymore because year over year sales declined along with non compliance to new US Safety standards. They cannot afford the R&D to meet the new safety standards because there isn't enough demand to justify the costs. The cars are built based upon customer DEPOSITS and transfer of Title, they have in fact defaulted on customer orders and failed to deliver cars.
The history of Mr Saleen is irrelevant to the financial health of this company as disclosed in their filings. You cannot pay the bills with prior history, in fact he cannot even get anything above Toxic grade financing at this point because they have already leveraged every asset under the roof. In fact they have eaten the costs of a single S7 production and devauled it at $250,000 as inventory, which is also leveraged to a debtor as collateral.
This is a public company and what is known is it is under severe financial distress as disclosed in all of it's SEC filings. In accordance with Reg FD any material event must be disclosed within 4 days, this SEC Registered company must comply with that. So we do know of all material events up to now.
We could see a lot of things, possible outcomes vary, but the probability of Bankruptcy is far greater and much more likely under the current conditions.
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