No one can push aside the validity of a lawsuit just based on the available information. there's a lot of things to look into.
$700k of administration fees quarterly. QUARTERLY! That's $100k per head on an annualized basis just in administration fees. This money is going somewhere. It's not just about salaries.
Marketing expenses of $500k quarterly to bring in $800k to $1.5m. This is completely unacceptable. Where's is this money going? Who spends $0.30 to $0.60 in marketing for every dollar of revenue?
All the money going to companies controlled by board members. The $25k report to a financial firm owned by a BOD member. That report was copied from SLNN's investor presentation. A presentation that has since been removed from SLNN's website. Some said that it was only being updated, but it has been down since August.
This clearly was just a way to transfer money from the company to a BOD director.
The fact that they tried to convey that there was a partnership between them and Tesla. A representative even wrote it in an email.
The fact that they issued a lot of PR that never materialized: supercar, ac propulsion, overly positive key takeaways from quarterly reports, greentech in China and etc.
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