This is not true. You are not referring to S7 IP, but Steve Saleen's brand the "Saleen brand". This is not necessarily the S7:
From the S-1:
That's just the "Steve Saleen image". Nothing to do with the S7.
Even more worrying, the only time "S7" is mentioned in the S-1 filling is when they mention that the only car in their possesion, a S7, is pledged to secure a loan from David Weiner (W-Net).
In the Intellectual Property section, they never actually mention the S7 IP.