Replies to post #5655 on Saleen Automotive, Inc. (fka SLNN)

[AutoInvestor]

No. Financing can take months to secure. There is an application which Saleen would need to complete and then there is due diligence by the lender or private investor.
It is very difficult to secure financing right on the day or even week that you need access to the funds. The closer you get to being out of cash the more desperate you get. The lender and the investor can sense that desperation and either charge you more interest or back out altogether. Saleen has so much debt and is consuming cash at such a fast pace they would scare any conventional lender away very quickly. Non-Conventional lenders (David Weiner, KBM Worldwide, etc..) are like loan sharks. They smell blood in the water. They are not going to be Steve's friend. If they find an angle to put money in it will be very expensive for Steve to get rid of them.

There revenue is increasing so maybe they will need to secure some financing next month instead. I would rather see that anyways... Wouldn't you?

Saleen's delay in reporting to the 8-K to the SEC not only scares the current debtors who want to get paid, it scares the OTCBB investor. They do not know if Saleen will bounce back or not.
No reason for Saleen to wait to announce that they found financing.