Replies to post #31212 on Saleen Automotive, Inc. (fka SLNN)

[RonDoe]

Looks like they are serious about coming back. Check out their new website investor tab.
http://saleen.com/about-saleen/investors/
A whopping 1:2000 RS
They have a slide show put together for investors.

• Conversion of $8.4 million of Debt to Equity
• Greatly improved Balance Sheet including vast reduction of corporate debt
• Raised $2.5 million of additional Equity through Private Offering
• Conversion of Preferred Stock to Common Stock
• 1:2000 Reverse Stock Split Completed
• Positive EBIDTA for 2017

2017 Financial Restructuring
• Raise $2.5 million through sale of Preferred Stock (60% complete)
• Convert $8.5 million of Debt to Equity (DONE)
• 2000:1 Reverse Stock Split (IN PROCESS)
• Convert Preferred Shares to Common Shares resulting in 21 million
Common Shares Post-Split, fully diluted (To occur upon completion of reverse split)
• File Form 10 Registration Statement with SEC (To occur upon conversion of
Preferred Shares to Common)

2017 Financial Highlights
Quarter Ended March 31, 2017
Gross Revenues $1.5 million
Operating Profit $0.8 million
Net Income $0.4 million