SALEEN in major financial trouble ... again.

[Not4you]

Once again, Steve Saleen is sliding quickly into the hole. $5,000,000 owing and $7,500 in cash is not a good way to report the books to the public. Maybe going public wasn't the best idea. Not only do they now need full transparency with their financials, but the stock is only $0.02 per share.

I like to give my 2 cents on some topics ... funny that that is all Saleen is worth too. lol

Full article:
http://jalopnik.com/mustang-tuner-sa...ars-1661373045

[ZR]

What a flippin mess.

[svo1990mustang]

yikes!!!

[Uncle Buck]

Darn shame

A cool product under poor management

[Tailites]

could be a scam...go into receivership...

Saleens silent partner buys it back for pennies on the dollar

name change etc...reopens

happens...seen it before

[Slope]

[cobracars]

I guess poor management.

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[Burns]

I might go ahead and buy the stock and recommend they sign a deal with discovery or TLC or similar, sell off the hidden gems out back on eBay, Steve can put his money where his mouth is and drop $1M to keep the wolves happy until the company can put the first lot of new models on the streets.

That's assuming he has a $mil to drop. He spent a lot of coin on legal fees getting the company back.

[Laffs]

I'll just drop my response from every other place this is posted here

I thought that's just what auto companies did these days?

Demand for the product is there, looking at there 10Q Customer deposits increased to 913,845 from 193,912, sucks for those people who put down the deposits though....

Also I guess we can speculate pretty easily at what the Director, Chairman and CEO of Saleen makes....

Anyhow I'm saying T-minus 10 to Chapter 11, Title 11...

[abeltrame]

I have little to no respect for the guy. Heard a bunch of horror stories regarding his business practices over the years but I digress.

On a side note: Loved his cars up until the S197 (no offense).