Saleen Automotive, Inc. (fka SLNN)

[thesmalls]

im relatively new to SLNN from the investment side. i agree the balance sheet is a train wreck. i have still not done a great deal of DD, but what do you make of the increasing top line the last three quarters and reduction in SG&A?

where did the original $3MM financed get sucked away to on the reverse merger into the shell?

i am not concerned with them taking over a shell as that is the cheapest way to go public. it is also an easy way to perpetuate a scam as well.

i was more interested in their parternship with AC Propulsion and the connection to the EV/Tesla market. i think Tesla prototype/production vehicle could be interesting but not necessarily a high revenue/production vehicle. more niche. but doing their own vehicle provides some intrigue.

however, they simply dont have cash for the R&D/prototype/development work. how much of this was done prior to the reverse merger? if they were looking to capitalize a real ramp up - it makes sense to go to the capital markets. hwoever, if the current mgmt has mismanaged the capital it brought on and continues to use convertible offerings - the traders and hedge funds will kill the company/stock long before it could eveer become viable with the best of intentions/product on the horizon.

seems to be some actual research/DD provided on this board unlike most.