Replies to post #6175 on Saleen Automotive, Inc. (fka SLNN)

[FredVestor]

This is NOT a poison pill.

On the contrary, this is a takeover. Exactly like I said the other day:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=113883222

The only option I see possible is: they will take some money from shady "investors", Saleen will step down and then they will buyout the shares. Probably for a little mark up so there that for SLNN shareholders, but it will be a far cry from the $0.30 it was trading at last year.

The 8K is clear first step of a takeover. The stated that they will give up any branding and rights over the "saleen" brand in case of a default.

An d more importantly they gave David Weiner (W-Net) and Fred Knoll (Europa) first dibs on a bankrupt Saleen:

Concurrent with our entry into the Security Agreement and Intellectual Property Security Agreement, we, along with our subsidiaries, entered into an Intercreditor Agreement dated as of May 8, 2015, with the Purchaser, W-Net Fund I, L.P. and Europa International, Inc. (collectively, the “Second Lien Claimholders”), pursuant to which the parties agreed that the liens on our assets granted to the Purchaser will be senior and prior to the liens on our assets granted to the Second Lien Claimholders.

This was at the very end of the 8K.

It's clearly a takeover, just like I said the other day, but how did I know that?

[wj2005]

Completely incorrect!

The conversion is to only 25 million shares at a price of $0.02. Not lower then that!