Saleen will go Bankrupt before the stock hits Zero.
It was a race between Bankruptcy and Zero stock value
and Bankruptcy won. Saleen is not paying it's bills
and is not using customer deposits to purchase inventory
to tune new cars.
As far as delinquent payroll taxes go, the fact that
the balance owed to the IRS went up last quarter
means that Saleen missed their payment schedule
and the IRS can go to court to start liquidating Saleen's
assets any day now. What happened 9 months ago does not
matter as much as what has happened over the last three months.
Saleen's attourney and board member Johnathan Michaels quit
last week. I expect the CFO, David Fiene to quit next.
Then Layoffs. Then Saleen will be delisted, then Bankruptcy, Liquidation and
finally locks on the doors. If there is any justice, Steve will be held personally liable
and the creditors can go after his personal assets.
Maybe an SEC filing of criminal conspiracy charges against Steve and Weiner to commit fraud
against the shareholders.
2015 should be a banner year for Saleen.
These comments are my opinion. Invest based on your own research and conclusions.
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