Saleen Automotive, Inc. (fka SLNN)

[TeamLannister]

Currently they've authorized 500,000,000 shares but have only issued 132,000,000 shares. I dug through the SEC filings and found out that Steve Saleen himself owns pretty much ALL of those issued shares. Like 82 million of them. So it looks like this is his shot to become a billionaire. I don't know what his personal wealth looks like at this time, but if this stock takes off he will be gracing the cover of Forbes.

Considering that the other insiders also own quite a bit of shares... we're looking at not a whole lot of shares available to the public.

Yes, Saleen Automotive looks like it's in financial trouble. They're losing a LOT of money. For the short term (I'm guessing 6 months to a year) they look rough. I mean.. there's concerns that they don't even pay rent.

BUT.

Last summer he won his name back from the "old" Saleen company that basically forced Steve and the rest of his crew out of the boardroom and then promptly ran the company into the ground without him. He immediately began work rebuilding this company from the ground up. It's been less than a year since then.

They've managed to partner up with AC Propulsion and GreenTech Automotive. GreenTech has some of it's own problems with it's connections in Washington DC, but hey, they've got connections in Washington DC. They also have a distribution network that gets Saleen vehicles to China. I've been to China and I can tell you, Hong Kong is a massive luxury car market. MASSIVE. If you can afford to drive a car in Hong Kong, you're able to afford a supercar. There's really not much middle ground, at least not right now.

AC Propulsion is the same outfit that licensed the engineering for the Tesla offerings. They have been working on electric vehicle powertrains since, what? 1992. They know what they're doing. This is why it's good that they are onboard with Saleen:

Tesla has just an absolutely massive amount of proprietary technology. They don't share their secrets with ANYONE. That's what gives them such a huge competitive advantage over, for instance, Nissan. The Nissan Leaf's sales numbers are so bad they had to drop the price just to move a few off the lot. Tesla, on the other hand, is moving cars like crazy. It can only be assumed that a large portion of THAT distinctive proprietary technology/engineering came from AC Propulsion.

Since Saleen is tuning a Tesla Model S for it's first EV we can surmise a few things. 1) AC Propulsion is sharing all sorts of engineering information with Saleen that isn't available to other manufacturers. 2) Saleen is demonstrating that they CAN utilize that engineering on an established EV platform. and 3) Therefore, they can use that applied knowledge to develop their own vehicle.

You mark my words. Saleen Automotive looks like it's on the edge of financial ruin right now, but this company is going to roar back to life. They have a lot stacked against them, lawsuits, bad financials, and some pretty ugly reputation coming from not paying their bills. That's why we're getting this stock at a quarter a share. In my humble opinion, I'm betting they overcome these issues and with the help of their friends (of which they have many) they are going to be making headlines at CNBC just a further down the road.



Or, you know, I could be wrong and they flush my shares right down the toilet at the end of the month. I am in Pennyland after all, lol.