Replies to post #2792 on Saleen Automotive, Inc. (fka SLNN)

[not lucky]

Well Said Promisekper I agree 100%.

There is a lot of money to be made in SLNN going UP or DOWN. The opposition to SLNN have money at risk just as you do. But they have the edge of fear, lies, and falsehoods to post while preying on the investor. The average investor dose not have the edge of organized deception. Stock manipulation by tearing down a stock on a stock message board happens frequently. Have no doubt that this is a real threat, but they never go after a bad stock. SLNN is a good stock and they know it. They always bring up old news that you have heard many times like the 10K. They post many times a day and converse back and forth with each other. They try to wear you out. They can lie about information and you won’t know the difference (unless you have done your own DD on the company and know the truth and facts)

There is definitely a reason they are here day after day trouncing this stock and its not to help anyone but themselves.

and thank you wj2005 for pointing out the fact that facts have been altered as well

[AutoInvestor]

Here are some other facts: In April 2014, Saleen entered into a settlement agreement with the bank whereby In accordance with the settlement agreement, the Saleen is required to pay $442,479 [color=red][/color]to this bank in August 2014 as full settlement of remaining principal amount owed.

October 8, 2013, Saleen entered into a Secured Promissory Note with W-Net pursuant to which W-Net loaned an aggregate of $500,000 to the Company. The note bears interest at the rate of 8% per annum, which is payable along with all principal under the note on October 7, 2014, = $540,000

Saleen is delinquent in payments of $729,314 of payroll taxes and
$1,402,889 of outstanding notes payable are in default[color=red][/color].

The current cash resources of the Company are insufficient to meet its planned business objectives and operational needs without additional financing. These and other factors raise substantial doubt about the Company’s ability to continue as a going concern.
Saleen has given 2,500,000 [color=red][/color]shares valued at .17 cents per share = $425,000 to Del Franco Partners to resolve a lawsuit of $250,000.
Del Franco had to agree to not sell more than 200,000 per month.
Del Franco agreed to drop the lawsuit because he knows that they only have to average .10 cents per share over the next 12 months to recover their $250,000.

As a result, the Company's independent registered public accounting firm issued a report on our March 31, 2013.

These comments are my opinion and are also the facts provided by Saleen's CPA Firm and reported on the 10K.

[AutoInvestor]

Rather than a possibility of what could be going on here, how about some real facts about what is actually going on here:

In April 2014, Saleen entered into a settlement agreement with the bank whereby In accordance with the settlement agreement, the Saleen is required to pay $442,479 to this bank in August 2014 as full settlement of remaining principal amount owed.

How is Saleen going to come up with $442,479 by August (potentially this Friday)? How? Let's talk about that.
Saleen still owes delinquent payroll taxes of $729,314 and
$1,402,889 of outstanding notes payable are in default[color=red][/color].


October 8, 2013, Saleen entered into a Secured Promissory Note with W-Net pursuant to which W-Net loaned an aggregate of $500,000 to the Company. The note bears interest at the rate of 8% per annum, which is payable along with all principal under the note on October 7, 2014, = $540,000


The current cash resources of the Company are insufficient to meet its planned business objectives and operational needs without additional financing. These and other factors raise substantial doubt about the Company’s ability to continue as a going concern.

Saleen has given 2,500,000 shares valued at .17 cents per share = $425,000 to Del Franco Partners to resolve a lawsuit of $250,000. Del Franco can sell 200,000 shares per month for twelve months and 100,000 shares in month 13. What do you think that this dumping of cheap stock to recover the settlement is going to do to the value of your shares over the next 13 months?

These are facts not opinion as stated by Saleen's CPA firm who published the 10K.

[nightowwl]

I suspected this from the start.

[AutoInvestor]

Promisekpr "SLNN is a good stock and they know it. "
How about some Proof that Saleen is a Good Stock?

Here is a description of Saleen stock:
13 month's ago it was worth $1.08, now it is worth .10 cents a 90%+ drop.
Saleen lost $11M in the last 12 months and $19M in less than two years.
Saleen cannot pay it's creditors.
In April 2014, Saleen entered into a settlement agreement with the bank whereby In accordance with the settlement agreement, the Saleen is required to pay $442,479 to this bank in August 2014 as full settlement of remaining principal amount owed.

October 8, 2013, Saleen entered into a Secured Promissory Note with W-Net pursuant to which W-Net loaned an aggregate of $500,000 to the Company. The note bears interest at the rate of 8% per annum, which is payable along with all principal under the note on October 7, 2014, = $540,000

Saleen is delinquent in payments of $729,314 of payroll taxes and
$1,402,889 of outstanding notes payable are in default[color=red][/color].

The current cash resources of the Company are insufficient to meet its planned business objectives and operational needs without additional financing. These and other factors raise substantial doubt about the Company’s ability to continue as a going concern.

Usually the value of a stock is low when it is Bankrupt and usually it is not considered a "GOOD" stock.
So now , how is this a good stock? These comments are my opinion.