Replies to post #5968 on Saleen Automotive, Inc. (fka SLNN)

[AutoInvestor]

The links to 8K & 10Q filings are clearly posted on this site or at Edgar.com
Without zero doubt Saleen funds are generated from increasing debt not earnings.
If Saleen publishes a 10Q this week it will be proven again.
This time the increasing debt is being force ably extracted from customer deposits not new lenders.
It's a Ponzi Scheme that is about to blow up. These customers will never see their cars because their money
was spent on Payroll and Credit cards not inventory.

[AutoInvestor]

It's WORSE than we thought:
Total Current Assets. $643,543
Total Current Liabilities $7,045,503
Saleen's Current Debt is 11 X it's Current Assets.
($250,000)of Saleen's $643,543 of Current Assets is an
old S7 which is 100% pledged to the bank as security on their delinquent note

Saleen's actual current assets = $393,543 so the current debt is really 18X it's current
assets. How can Saleen pay $7M of debt with $393K of cash, AR and Inventory???
They can't = Bankrupt. Saleen is DEAD without finding Funding.
Who would lend Saleen money when they cannot pay it back???