Replies to post #29860 on Saleen Automotive, Inc. (fka SLNN)

[nickbean23]

I agree I believe this wait will be worth it.

[Mcab40]

Saleen Financial Statements would be a DISASTER if they ever did release them. You will NEVER see them, in my opinion. In the last 19 Months since they reported their financial statements the have sold ZERO S7LM's,
ZERO Seleen Electric Telsa's, ZERO Chevy Camaro's, ZERO Dodge Challenger's and less than Twelve Saleen Ford Mustangs (if you count cars on their PR releases)
Saleen's reported revenue would be less than $1.1M in 19 months. Horrible.
They would report huge losses in the last 19 months on top of the ($11M) of negative retained earnings that they had accumulated from their last reported 10Q.

CPA firms would charge Saleen well over $400,000 to re-construct
Financial Statements going back 19 Months.Saleen would then
need to find seperate CPA Firm to audit the financial statements and file at least 6 delinquent 10Q's, 1 10-K and at least 6 or more 8K's that are all DELINQUENT..
For a publicly traded super HIGH RISK client like Saleen they would probably charge a Premium
In my opinion. I doubt Saleen would ever be able to pay the estimated $400,000+ to bring their financials
up-to-date with the SEC & shareholders. They also may have to pay late filing fees & penalties to the SEC & to FINRA. In my opinion.
The Bottom Line is Saleen will NEVER release audited financial statements and the shareprice will NEVER go anywhere without them, in my opinion.