Saleen on the verge of bankruptcy

Saleen on the verge of bankruptcy :7261 dollars, this is the amount that Saleen has in its coffers, which means it does not even afford one of his own cars. Worse, the company's debts amount to 8 times the amount of its assets, as saying that the situation is very worrying. The figures below from a document sent to the SEC, are not at all reassuring.

September 30, Saleen was 583,900 dollars in payroll and $ 1.1 million of bills and unpaid wages for 90 days. Add to that 750,000 dollars in loans that happen to short-term maturity.
The company's assets represent a total of 668,629 dollars against ... A liability of more than $ 5.6 million. Of course, Steve Saleen will pay more pay 1 penny.
Only glimmer of hope, though, the financial position of Saleen was not fundamentally different ending September 2013 with 13,246 dollars in cash and an operating loss of 3.09 million. The sale of shares, new loans and renegotiated certain payment terms allowed him to pass this difficult but it will not work every year and the question of the profitability of the same activity Saleen is clearly posed.

Via Car and Driver

Saleen on the verge of bankruptcy 2015-01-08T06:44:00-08:00 Rating: 4.5 Diposkan Oleh: Abdul Aziz