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S7 (03-021) HEADS TO BARRETT-JACKSON, SCOTTSDALE AUCTION

THE ALL-AMERICAN SALEEN S7 SUPERCAR: One of only four naturally aspirated ultra-rare S7s with Saleen’s Competition package offered at Scottsdale

November 16, 2015
Posted by Barrett-Jackson
Written by independent automotive journalist Donald Farr

This 2003 Saleen S7, one of only four naturally aspirated ultra-rare S7s with Saleen Competition package, will be crossing the block at the 2016 Barrett-Jackson Scottsdale Auction.
This 2003 Saleen S7, one of only four naturally aspirated ultra-rare S7s with Saleen Competition package, will be crossing the block at the 2016 Barrett-Jackson Scottsdale Auction.

Like Carroll Shelby 20 years before him, Steve Saleen funded his desire to race by taking existing Ford products like the Mustang and modifying them into high-performance street vehicles, then selling through Ford dealers. The Saleen Mustang, introduced in 1984, brought Saleen Autosport to prominence in a time when the 5.0-liter HO Mustang reined supreme as one of America’s most popular performance cars. Saleen stamped his competition credentials in 1987 when his Saleen Mustang race team won the SCCA’s Showroom Stock Escort Endurance series championship, followed by SCCA World Challenge championships ‒ in Saleen Mustangs campaigned by the Saleen/Allen “RRR” Speedlab Team with comedian Tim Allen ‒ in 1996, 1997 and 1998.

03-021 S7
03-021 S7

By the end of the millennium, Steve Saleen had collected an impressive number of “checkmarks” on his personal bucket list: Create a car company, establish Saleen as a premier brand in the American performance market, win national racing championships, and race at Indy and LeMans. But also like Shelby, Saleen wanted to build his own supercar, one created entirely from a blank sheet of paper and not from an existing platform. Shelby did it in 1999 with his Series One. In 2000, Saleen Automotive introduced the S7.

03-021 S7
03-021 S7

Unveiled on August 19, 2000, at the Monterey Historic Races at Laguna Seca Raceway, the Saleen S7 press release revealed Saleen’s goal for his new supercar: “The S7 is designed to compete with the fastest, quickest, best handling, most luxurious grand touring cars in the world while providing a distinctly American driving experience for the fortunate few who will own one. The S7 was conceived to combine the performance of a track-only race car with the driving pleasure of a road car.”

03-021 S7
03-021 S7

Saleen Automotive enlisted Phil Frank for body and interior design, Billy Tally for engine development, Ray Mallock for engineering and Hidden Creek Industries for resources and initial funding. Essentially, the S7 was designed around Tally’s engine, a 7.0-liter version of Ford’s 351 Windsor small block with high-tech components – including aluminum block and cylinder heads, stainless-steel valves and titanium retainers – to develop 550 horsepower without supercharging or turbocharging. To reduce the powerplant’s package size for use in the S7, Saleen designed and created a new Front Engine Accessory Drive system.

03-021 S7
03-021 S7

With the engine mounted mid-ship as with any respectable supercar, the S7’s hand-fabricated tubular space frame with honey composite reinforcement mounted fully independent suspension components developed in conjunction with England’s Ray Mallock Ltd. Extensive wind-tunnel testing helped shape the S7’s long, sleek, shark-like body, one of the first to use carbon-fiber panels and “full tray” body sculpting underneath. Longtime Saleen design consultant Phil Frank personalized the S7’s appearance with signature Saleen elements like the functional gill-like ducting, split-channel air flow through the car, advanced side skirt design and integrated full-body wing.

03-021 S7
03-021 S7

Climbing over the wide sills through the scissors-opening doors, the driver was greeted by a snug, asymmetrical interior with the driver’s seat shifted toward the center of the car. Leather and suede surfaces enhanced the S7’s image as a touring car, along with air conditioning, tilt/telescoping steering column, power windows, adjustable pedals and AM/FM/CD stereo. Missing was a rearview mirror; instead, the S7 utilized a remote video camera.

Saleen claimed a top speed of 220 mph with 0-60 in less than four seconds.

03-021 S7
03-021 S7

In 2003, an S7 starred as “God’s” personal car in the movie “Bruce Almighty,” starring Jim Carrey and Morgan Freeman. In 2005, Saleen upgraded to the S7 Twin Turbo with 750 horsepower. The Hollywood exposure and high horsepower may have helped the supercar achieve superstar status. The car initially sold for $375,000, but ballooned to nearly $600,000 for the Twin Turbo. Although production eventually extended over six model years, it was limited to only 78 very special cars, including 15 R models.

03-021 S7
03-021 S7

A spectacular 2003 Saleen S7 is being offered at the 45th Anniversary Barrett-Jackson Scottsdale Auction. One of only four naturally-aspirated S7s with Saleen’s Competition package, this beauty includes a $75,000 option that added a higher-performance camshaft, upgraded intake and exhaust, and a reprogrammed ECU. This particular Saleen S7, VIN #1140, was also equipped from the factory with optional chrome wheels, remote door openings, and factory-upgraded touchscreen sound system. Personally signed by Steve Saleen, this silver S7 has covered a mere 9,100 actual miles.

– Written by independent automotive journalist Donald Farr

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SALEEN EXHIBITS @ 2015 GUANGZHOU AUTO SHOW

Auto Guangzhou 2015
The 13th China (Guangzhou) International Auto Parts & Accessories Exhibition

Concurrently held with The 13th China (Guangzhou) International Automobile Exhibition (China Import & Export Fair Pazhou Complex (Zone B), Nov. 21-29,2015) and Guangzhou International Electric Vehicle Show (China Import & Export Fair Pazhou Complex (Zone A), Nov. 20-23, 2015), 2015 Guangzhou International Auto Parts & Accessories Exhibition, which platform for both aftermarket and OE Business is to be staged at China Import and Export Fair Pazhou Complex, Guangzhou (zone B), China on Nov. 20-22, 2015.

Since 2012, the Accessories Section & Auto parts of Auto Guangzhou have been upgraded as a specialized concurrent expo. The auto parts and accessories halls are going to be held at different halls of the vehicles sections during Auto Guangzhou 2015.

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[Source: Saleen Motors International]

SALEEN AUTOMOTIVE POSTS SECOND QUARTER 2015 RESULTS

CORONA, CA–(Marketwired – Nov 24, 2015) – Saleen Automotive, Inc. (OTCBB: SLNN) (the “Company”), an American specialty manufacturer of high performance vehicles, technical performance parts, lifestyle accessories and apparel, is pleased to provide the market with its results for three and six months ended September 30, 2015. The Company’s full report on Form 10-Q is available in its entirety at http://edgar.sec.gov/.

Key financial results for the three and six months ended September 30, 2015 are summarized herein:

  • Revenues were $627,187 and $2,219,177 for the three and six months ended September 30, 2015, respectively, compared to $866,524 and $2,563,901 for the three and six months ended September 30, 2014, respectively. The decrease in revenues was primarily related to lower chassis revenue, as customers opted to obtain and send to us their new chassis rather than us having to procure the chassis. Excluding chassis, volume of vehicles sold and sales of our aftermarket retail parts increased on a year over year basis;
  • Gross margin was $37,827 and $379,997 for the three and six months ended September 30, 2015, respectively, compared to $96,534 and $362,626 for the three and six months ended September 30, 2014, respectively. Excluding a one-time charge of $62,500 incurred during the three months ended September 30, 2015, gross margin as a percentage of revenue was 16% and 20% for the three and six months ended September 30, 2015, respectively, versus 11% and 14% for the three and six months ended September 30, 2014, respectively;
  • Operating expenses decreased to $719,330 and $1,685,227, respectively, for the three and six months ended September 30, 2015 from $1,549,765 and $3,419,606, respectively, for the three and six months ended September 30, 2014;
  • Loss from operations decreased to $679,498 and $1,305,230 for the three and six months ended September 30, 2015, respectively, from $1,453,231 and $3,056,980 for the three and six months ended September 30, 2014, respectively;

Net loss for the three and six months ended September 30, 2015 was $825,038 and $1,206,131, respectively, compared to a net loss of $2,083,705 and net income of $902,279 for the three and six months ended September 30, 2014, respectively. The net income for the six months ended September 30, 2014 included non-cash gains of $2,586,732 and $2,473,210 related to an extinguishment of a derivative liability and change in fair value of a derivative liability. Excluding these gains, net loss for the six months ended September 30, 2014 was $4,157,663.

Net cash used in operating and investing activities were $164,273 and $8,811, respectively, for the six months ended September 30, 2015 compared to $1,714,196 and $224,859, respectively for the six months ended September 30, 2014. At September 30, 2015 we had cash on hand in the amount of $14,999. As discussed further in our current quarterly report on Form 10-Q filed on November 23, 2015, we will need and are currently seeking additional financing to fund our operations and development. To this end and as further discussed in our Form 10-Q and Form 8-K filed on October 21, 2015, in October 2015 we entered into a Binding Letter of Intent with SM Funding Group, Inc. (“SM Funding”) whereby SM Funding will purchase from us up to $2 million but not less than $1 million of senior convertible secured notes. In addition, we agreed to offer SM Funding or its affiliates up to $10 million of Preferred Stock. Over the next few months, we will be working with SM Funding to raise funds to grow our business and help achieve our objectives.

“Our financial results for the three and six months ended September 30, 2015 are in sync with our continued growth in expanding our markets, as well as tailoring the business for efficiency,” stated Steve Saleen, CEO, Saleen Automotive. “We have continued to grow our volume and distribution network, and also have increased our sales of performance parts. While we haven’t grown revenues as quickly as I’d like due mainly to delays experienced during the six months ended September 30, 2015 in obtaining tooling and other parts for our 2015 Saleen Mustang, volume on a year over year basis has increased positively as we have continued to receive enthusiasm for our new Saleen Mustang which we have turned into orders. With the help of SM Funding and success of our Saleen Mustang, we anticipate further growth in sales of vehicles and aftermarket sales,” added Saleen.

Saleen uses the following outlets to provide updates from time to time to the public regarding its business and operations:

Facebook: https://www.facebook.com/Saleen

Company website: www.saleenautomotive.com

About Saleen Automotive, Inc.

Saleen is an American specialty manufacturer of high performance vehicles, technical performance parts, lifestyle accessories and apparel. Founder Steve Saleen has continually set the bar for automotive design and performance engineering in both street and racing applications. Saleen plans to utilize its existing strategic partnerships and dealer network to refine its design and engineering prowess, continue development of emerging automotive technologies, and expand its presence nationwide with a combination of automotive retail services, aftermarket parts and new vehicle sales to build significant long-term value. Learn more at www.saleenautomotive.com.

Contact Information

Media Contact:
Molly Saleen
(714) 400-2121

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[SOURCE: Saleen Automotive, Inc.]

INVEST $1M IN SALEEN AND GET A MUSTANG IN YOUR DRIVEWAY

BY: RICHARD MORGAN on November 9, 2015 at 11:53 pm
Original Article: NEW YORK POST

Not every debt-for-equity deal puts a souped-up Mustang in its investors’ driveways, but then not every company has Steve Saleen’s product line.

Saleen, the founder of Saleen Automotive, recently negotiated a capital infusion of up to $10 million that will deliver a Black Label Mustang or its equivalent for each $1 million in new debt or preferred stock.

“I know it’s not your typical return on an investment,” Saleen said of the Mustangs, Camaros, Challengers and Teslas he customizes into turbo-charged vehicles at his Corona, Calif., factory.

Since the starting price for each Saleen car is about $75,000, the company’s new creditor, SM Funding, is already fast out of the gate.

But the returns stand to accelerate, given the deal also includes up to $2 million in senior notes that pay 12 percent, and up to $8 million in preferred stock that will ultimately give the lending group 61 percent of publicly traded Saleen.

Cyrano Group’s David Bergstein, who’s credited with negotiating terms for SM Funding, also exacted a two-year, $25,000-a-month consulting fee for his advisory firm. At the closing, meanwhile, Saleen Automotive must take out a $15 million “key man” insurance policy on its founder, who was a professional race-car driver before going into the car-customization business in 1984.

Saleen’s stock hasn’t traded above a penny since May. And though it rose 1.5 percent in over-the-counter trading Monday, it still didn’t qualify as, literally, a penny stock.

Saleen, who’s been chasing capital since going public via a reverse merger in 2013, said the terms were fine.

“This delivers just enough so we can focus on executing,” he told The Post.

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[Source: New York Post]

AUCTION: SALEEN S7, S7R & S5S RAPTOR

Saleen S7, S7R & S5S Raptor

Timed Online Auction
Date: Bidding Closes November 18, 2015
Time: 10:00am PST

Location: Sun Valley, CA
Inspection: November 16 & 17 – 10:00am – 4:00pm each day

NOTE:

This sale offering is for the Assets and Intellectual Property of the Saleen S7, S7R and S5S Raptor and are being sold by the current owner and is not related to or affiliated with Saleen Automotive Inc.

The Saleen Name and Trademark are owned by Saleen Automotive Inc.

Saleen Automotive Inc does not have any ownership in the Saleen S7, S7R and S5S Raptor Assets and IP and are no way connected to this offering.

Description
GA Global Partners is offering for sale the Assets and Intellectual Property of the Saleen S7, S7R and S5S Raptor at online auction. The sale will include all remaining inventory, parts, memorabilia, molds, designs and intellectual property related to the Saleen S7, S7R and the Saleen S5S Raptor.

Included in this unique offering are six remaining chassis/frames for the Saleen S7 and S7R, and the one-of-a-kind concept car for the never-produced Saleen S5S Raptor.

These prized assets have been kept in safe storage for the past five years which makes this a truly rare and historic opportunity to own all assets and rights to the first ‘Great American Supercar,’ and allow a new owner to continue the legacy with the S5S Raptor

The street-legal Saleen S7 was introduced in 2000 and was followed by the S7R racing version in 2001. The S7R won nearly 30 poles and set 27 fastest laps at several tracks, including the 24 Hours of Le Mans. The Saleen S5S was unveiled at the New York International Auto Show in 2008 but was never produced.

The Saleen S7 has been featured in numerous blockbuster movies like Bruce Almighty, Need for Speed and Iron Man and has been covered extensively by the media and automotive magazines. The Saleen S7 and S5S Raptor have also been featured in top-selling video games, including, Asphalt, Forza, Midnight Club, and Gran Tourismo.

Click Here for Complete Terms and Conditions of Sale

Terms of Sale are summarized below. Please review and bid accordingly.
• A 18% Buyer’s Premium will be added to your bids
• Accepted forms of payment: CASHIER’S CHECK OR WIRE TRANSFER ONLY. NO CREDIT CARDS, NO PERSONAL CHECKS.
• All invoices must be PAID IN FULL by close of business the day following auction completion.
• REMOVAL: Typically, three days following the close of auction, please Email us with any questions or concerns specific to each event.
• All items are sold AS-IS, WHERE-IS. All sales are final – NO REFUNDS, RETURNS OR EXCHANGES
• Local sales tax will apply. To claim exemption, fax your valid, LOCAL and SIGNED resale certificate to 818-884-3561, or Email us. Reference your USER ID/BIDDER NUMBER on the fax.
• If you are claiming exemption, you may deduct sales tax from your payment, exemption documents must be provided when items are removed. Exemption claims will not be considered once payment has been made and items have been removed.
• Out-of-state shipments are exempt from tax if shipped directly from the auction site and a BILL OF LADING is provided.

Transportation & Logistics
• All buyers are responsible for the items purchased at the auction. Below is a list of companies that can assist you with shipping those items. Please contact them directly for scheduling and pricing.
• It is your responsibility and the responsibility of your shipping agent to coordinate removal procedures and schedules with the company selling the assets (equipment) prior to removing the equipment.
• All the equipment must be paid for in full before a release will be given for the removal of the equipment.
• If there are any questions or errors regarding the equipment, you must contact the auctioneer prior to removing the equipment. Once the equipment is removed, you assume all responsibilities.

These shipping company names are provided for your convenience, you are not required to use these companies.

Pack and Ship Companies
• Adcom Worldwide Services – Tel: 800.370.7700
• Craters and Freighters – Tel: 800.736.3335
• Freight Logistics – Tel: 720.377.9460
• Moveit Specialized Logistics – Chad McDermott • Tel: 800.831.0030 x17
• Navis Pack & Ship – Tel: 800.344.3528 for locations
• Pioneer Transfer – Tel: 402.564.390

Rigger & Transportation
• Advanced Riggers & Millwrights Off: 951-361-9187 (ask for Frankie)

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[Source: Great American Global Partners, Inc.]

COOPER TIRE BRINGS HIGH PERFORMANCE TO SEMA ON SALEEN MUSTANG

PHOTO: TIRE BUSINESS BY DAVE ZIELASKO

LAS VEGAS–(BUSINESS WIRE)–Cooper Tire is showcasing its ultra-high performance Zeon RS3-S tire on a 2016 Saleen® 302 Black Label Mustang in booth #43019 (South Hall) at the Specialty Equipment Market Association (SEMA) show now through November 6.

The 2016 Saleen 302 Black Label Mustang is rolling on Cooper Zeon RS3-S ultra-high-performance tires.
The 2016 Saleen 302 Black Label Mustang is rolling on Cooper Zeon RS3-S ultra-high-performance tires.

“Our RS3-S tires meet the exacting standards of Saleen, while also meeting the demands of everyday performance enthusiasts.”

Saleen is an iconic American name in motorsports, synonymous with superb quality and unparalleled performance, and now comes standard with Cooper Zeon RS3-S tires.

“We are excited to work with Saleen, whose maximum performance vehicles give us an opportunity to demonstrate the capabilities and state-of-the-art technology engineered into our high performance products,” said Scott Jamieson, Cooper’s Director of Product Management. “Our RS3-S tires meet the exacting standards of Saleen, while also meeting the demands of everyday performance enthusiasts.”

The race-inspired RS3-S is an ultra-high performance tire that delivers world-class dry road traction, increased handling and exceptional cornering. The tire’s tread compounds are specifically formulated to combine dry and wet traction with crisp handling and high speed capabilities. The RS3-S also features a 20,000-mile treadwear protection warranty and a 45-day road test guarantee.

For more information on Cooper and the SEMA show, visit www.coopertire.com and www.semashow.com. Also connect with Cooper on Facebook, Twitter and Instagram.

About Cooper Tire & Rubber Company
Cooper Tire & Rubber Company, together with its subsidiaries, is a leading designer, manufacturer and marketer of innovative, great-performing tires that people depend on for all of life’s road trips, whether on city streets, off-road adventures or high-speed tracks. In fact, Cooper is proud to sponsor and race in all three levels of the Mazda Road to Indy development program within the IndyCar racing series. Cooper tires can also be seen on the track as a sponsor of the IMSA Prototype Lites Series, and competing in the short course off-road TORC Series. Headquartered in Findlay, Ohio, Cooper, together with its subsidiaries, has manufacturing, sales, distribution, technical and design operations in more than one dozen countries around the world. This year, as we head into our second century in the tire industry, Cooper is looking toward a future where innovation will continue to drive our products and our products will continue to drive the world. To connect with Cooper, visit www.coopertire.com, www.facebook.com/coopertire or www.twitter.com/teamcoopertire.

About Saleen Automotive, Inc.
Saleen is an American specialty manufacturer of high performance vehicles, technical performance parts, lifestyle accessories and apparel. Founder Steve Saleen has continually set the bar for automotive design and performance engineering in both street and racing applications. Saleen plans to utilize its existing strategic partnerships and dealer network to refine its design and engineering prowess, continue development of emerging automotive technologies, and expand its presence nationwide with a combination of automotive retail services, aftermarket parts and new vehicle sales to build significant long-term value. Learn more at www.saleenautomotive.com.

Contacts:
Cooper Tire & Rubber Company
Michelle Rehbein, 419-423-1321
mrrehbein@coopertire.com

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[Source: BusinessWire & Tire Business]

PARNELLI JONES VISITS WITH ADAM CAROLLA ON CARCAST

PODCAST 743: Parnelli Jones, Racer

October 23, 2015
Hosts: ADAM CAROLLA and MATT D’ANDRIA
Producer: CHRIS LAXAMANA

Parnelli Jones sits down with Adam and Matt to talk about the new documentary Godspeed: The Story of Page Jones. The guys discuss Parnelli’s Son, Page, and his recovery from traumatic brain injury. They guys also discuss Parnelli’s racing accomplishments and take a listener question!

For more on the film, visit GodspeedPJ.com

Click on this link to visit adamcarolla.com and listen to the CarCast

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[Source: Adam Carolla]