The reverse merger was announced May, when the stock reached its peak at $1.00. Therefore the peak was due to the reverse merger and the merger was completed June 27 2013 when the stock was at $0.90. W270 owners have cashed in their SLNN shares. The vast majority of shares sold since the reverse merger were sold by the group of investors behind the reverse merger.The only people to have SLNN shares at that high point were SLNN shareholders from the reverse merger and in SLNN's S1 filing, all the shareholders from W270 that purchased convertible notes from SLNN were granted the sale of 10 million shares.
Here: https://imgur.com/aF4ZeTY - Only Steve Saleen, Miranda and Micheals couldn't sell shares at the offering. Every single one shareholder from the reverse merger were selling shares purchased during the first public offering.
The pump and dump scheme was set up now and all they had to do was promote fictitious business plans that Steve set up by producing one car and promoting the heck out of it and by hiring a PR firm (who sits on Saleen's BOD) . One Tesla, One 2015 White Label, One Yellow, One Black, etc....) None of these cars are in production. They are all being produced one at a time. Saleen has more deposits than cars produced . The customers who put down these deposits are banging on Saleen's door by now wanting their cars or their deposits back.
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