Again, I don't remember anyone claiming that Saleen couldn't or still can't keep their doors open if they keep issuing toxic debt. Still it's not good news for shareholders.
Anyone able to look at this objectively can see that there's only 2 options at this point:
1 - One of the numerous creditors successfully push for collection and Saleen declares bankruptcy.
2 - Saleen manages to get their A/S increase authorized and issue more shares. This has been done before and shows that it doesn't provide enough money from Saleen to flourish (not that it necessarily could even with enough money), but just enough to stay alive. Doing so, it dilutes the float considerably, and it brings the value down.
Either way, there's another tsunami of hurt coming for SLNN shareholders.
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