Whitefish, MT / July 7, 2014 / Saleen Automotive Inc. (OTC: SLNN), an American specialty manufacturer of high performance vehicles, technical performance parts, and lifestyle accessories, recently reported FY 2013 revenue that increased 96% to $5,279,887 and gross profit from vehicles and parts that increased 563% to $748,378, signaling an ongoing turnaround in its financial performance.
At the same time, the company announced the release of the Saleen Tesla S, began selling its performance vehicles in China, signed an agreement with BASF (OTC: BASFY) to utilize its state-of-the-art color technology, and appointed legendary Top Fuel driver Joe Amato to its Board of Directors. These efforts set the stage for significant growth over the coming year by increasing revenue opportunities.
Tesla’s Growth
The importance of these milestones is underscored by Tesla Motors Inc.’s (NASDAQ: TSLA) recent announcement that it expects to deliver about 7,500 Model S vehicles in Q2 as it moves towards its goal of more than 35,000 Model S deliveries in 2014. After beginning with just 53 deliveries to China in April, the company quickly ramped up to an estimated 1,200 deliveries during the second quarter.
The Saleen Tesla S could capture a portion of the growing market given its unique design and performance characteristics. Since many Tesla buyers are already high-end buyers, the Saleen version of the iconic electric vehicle could accelerate sales as the market takes notice. The impact of these sales could become increasingly apparent over the coming quarters as they are reflected in the financial statements.
China Exposure
China’s car-buying market has been on the rise over the past few years, as an increasing number of Chinese citizens join the middle class. According to McKinsey & Company, the country’s car market will grow ten-fold between 2005 and 2030, yielding the world’s largest car market by a wide margin, while the number of registered cars is expected to reach 200 million by 2020.
Figure 2 – Chinese Car Sales – Source: Wall Street Journal
Saleen Automotive’s distribution agreement with GreenTech Automotive to distribute its full line-up of vehicles within China could prove to be an exceptional move by management. Beginning in Spring 2014, the company’s high-performance vehicles were put up for sale within the country, which means that shareholders could begin seeing the fruits of those labors in FY 2014 and beyond.
Upcoming Releases
Saleen Automotive plans to continue its aggressive release schedule with the introduction of the 2015 Saleen 302 Mustang. With this year being the 50th anniversary of the iconic Ford (NYSE: F) Mustang’s release, enthusiasts have been provided this week with a first look at the all-new Saleen Mustang model, which is the first major Mustang redesign since 2005. Management plans to unveil additional details and specifications as production draws closer.
“With this model being the first major Mustang redesign since 2005, we took this as an opportunity to push the limits in both design and performance,” said the company when releasing the photo. “We feel this latest Saleen Mustang model is perfectly positioned as the next American exotic, campaigning on the world stage.”
Recently, USA Today published a story covering the photo release calling Steve Saleen “one of the best in the business” and outlining some of the changes that could be expected in the new Mustang model.
Disclaimer:
Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://secfilings.com/Disclaimer.aspx
Source: Emerging Growth LLC
Source: Accesswire IA (July 7, 2014 – 12:46 PM EDT)
Tuesday, July 1, 2014 — Corona, CA — One look at the 2015 Mustang and you get a familiar feeling of previewing the next legendary muscle car. With this Saleen 302 first look, take that legendary status and add over 30 years of Saleen racing, design, and engineering DNA and the result is something truly worthy of iconic status.
With this model being the first major Mustang redesign since 2005, we took this as an opportunity to push the limits in both design and performance. We feel this latest Saleen mustang model is perfectly positioned as the next American exotic, campaigning on the world stage. As a first look, the final features and specifications of the 2015 S302 Mustang will be released as our unveiling and production draws nearer.
For more information or to place an order for a 2015 Saleen 302 Mustang, visit saleen.com or contact Saleen directly at (855) 797-6339.
CORONA, Calif., June 30, 2014 /PRNewswire/ — 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 the three months and fiscal year ended March 31, 2014. The Company’s full report on Form 10-K is available in its entirety at http://edgar.sec.gov/.
Key financial results of operations for the quarter ending March 31, 2014 are summarized herein:
Revenue increased 874 percent to $1,709,165 for the quarter ended March 31, 2014 from $175,554 for the quarter ended March 31, 2013. Revenue includes $121,500 realized from a design contract;
Gross margin increased 422 percent to $284,791 for the quarter ended March 31, 2014 from a loss of $88,456 for the quarter ended March 31, 2013;
Operating expenses increased 148 percent to $2,706,823 for the quarter ended March 31, 2014 from $1,092,002 for the quarter ended March 31, 2013. Operating expenses included one-time settlement costs of $736,908;
Net loss increased 374 percent to $6,004,228 for the quarter ended March 31, 2014 from $1,267,223 for the quarter ended March 31, 2013. Net loss for the quarter ended March 31, 2014 included a net loss of $3,338,786 related to a derivative liability from convertible notes issued in June 2013. The derivative liability recorded as of March 31, 2014 will be extinguished in the quarter ending June 30, 2014 as a result of a convertible note amendment entered into between the Company and the related note holders.
Key financial results of operations for the fiscal year ended March 31, 2014 are summarized herein:
Revenue for the year ended March 31, 2014 were $5,279,887, an increase of $2,580,872 or 96 percent from $2,699,015 for the year ended March 31, 2013. Revenue from the sale of automotive vehicles and parts increased $3,705,357 or 255% to $5,158,387 for the year ended March 31, 2014 from $1,453,030 for the year ended March 31, 2013;
Gross Margin from the sale of vehicles and parts increased $748,378 to $881,347 or 563 percent from a gross margin of $132,969 for the year ended March 31, 2013. Gross Margin from design services contributed $121,500 and $386,444 for the year ended March 31, 2014 and 2013, respectively;
Operating expenses increased 137 percent or $4,498,476 to $7,780,959 for the year ended March 31, 2014 from $3,282,483 for the year ended March 31, 2013 with $1,873,910 of the increase related to our investment in research and development and sales and marketing expenses. Operating expenses included one-time settlement costs of $945,401;
Net loss increased 374 percent to $11,121,982 for the year ended March 31, 2014 from $2,988,116 for the year ended March 31, 2013. Net loss for the year ended March 31, 2014 included a loss of $3,372,130, net, related to a derivative liability from convertible notes issued in June 2013. The derivative liability recorded as of March 31, 2014 will be extinguished in the quarter ending June 30, 2014 as a result of a convertible note amendment entered into between the Company and the related note holders.
“Our robust sales performance this past fiscal year reflects our sales and marketing efforts achieved by our expanded sales force as well as expansion with the addition of new dealer networks,” stated Steve Saleen, CEO, Saleen Automotive. “As we look down the road, we plan to expand our business and launch into different verticals through bringing to market our first electric vehicle, the Saleen Tesla S, and through the opening of retail Saleen outlets and our agreement to distribute our full line of Saleen performance cars in China. These new initiatives and opportunities will allow us to expand our comprehensive portfolio and distribution network and capitalize on this momentum in our industry.”
Milestones from the period include:
Entered into an agreement to distribute full collection of Saleen automobiles in China
Released renderings for the new Saleen Tesla Model S; the Company’s first performance electric vehicle
Appointed Joe Amato, legendary Top Fuel driver and businessman to the Company’s Board of Directors
Entered into an exclusive agreement with BASF; will create a new line of Saleen colors using BASF’s state-of-the-art technology
All the above events can be read by looking under the news feed for SLNN. Saleen uses the following outlets to provide updates from time to time to the public regarding its business and operations:
Saleen Automotive 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 Automotive 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.
Fans of the American muscle car have seen a new version of the Dodge Challenger roaming the streets of the Las Vegas Valley, thanks to Towbin Dodge and its recent debut of the Saleen Challenger.
“We are very excited that Towbin Dodge will be the first dealership in Nevada to debut the new Dodge Challenger Saleen,” said Steve Saleen, president and CEO of SMS Signature Cars Inc. and board chairman and CEO of Saleen Automotive Inc. “Towbin Dodge has a great reputation, and is the No. 1 Dodge dealer in the nation, but most importantly, they understand performance and our cars. They have been great partners to us.”
The new Dodge Challenger Saleen 570 gets its name from the 5.7-liter V-8 engines in each model. Towbin Dodge is the only Nevada dealership to carry the car. The Saleen 570 Challenger is offered in three coupe models: the 570 White Label model features a 400 horsepower V-8 engine; the more powerful Yellow Label and Black Label models contain supercharged V-8 engines under the hood, which boast more than 570 horsepower.
“My sons and I have been fans of the Saleen for many years, with one of our all-time favorites being the Saleen S7 Supercar,” Towbin Automotive co-owner Josh “Chop” Towbin said. “We are so excited to represent Saleen for Nevada and to be selling these unique, fun and powerful cars.”
Steve Saleen and SMS Supercars have spiced up the Dodge Challenger, already a hot automotive commodity, with additional, top-of-the-line features and upgrades. The most vital component added is the SMS 296 Supercharger System, including a Lysholm twin-screw compressor, along with SMS’s six-pack intercooler system. This new intercooler system features six finned tubes that make the system up to 60 percent more efficient than traditional intercoolers, which translates into an incredibly smooth ride. Visit the Towbin Dodge dealership to test drive this vehicle.
Towbin Dodge, named the nation’s No. 1 Dodge dealer for 2013, is just one of many dealerships in the Towbin Automotive family. With dealerships across the Las Vegas Valley, Towbin Automotive is the largest provider of Dodge, Chrysler, Jeep, Rams and Fiats in Nevada. Visit www.towbinmotorcars.com or call 702-253-7000 for more information on Towbin Motorcars.
This is a great series of events, with a Ride & Drive, a Pony Trails scenic cruise, an MCA show on Saturday, dinner boat cruise on Saturday night, and Steve Saleen and family at the All-Ford Picnic on Sunday…
George Follmer will also be in attendance during this event!
Lastly: Saleen Automotive is giving people a chance to roll the dice to win a Saleen Mustang!
Yes, Saleen is working on a Model S but no one knows much more than that, until now.
Teslarati had the good fortune to be invited to Saleen’s Tesla Model S track test and tune session with Steve Saleen himself. What we saw went far beyond our expectations.
Forum comments run the gamut, from a fully rebuilt Tesla Model S, much as Saleen cars are, to a tweaking of suspensions and tires. How can a renowned performance car magician improve an award-winning battery powered sedan? We won’t go into the full details yet, but suffice it to say, there’s laser scanning involved, exotic materials and the Bilstein touch just to name a few.
The result will be a transformation of the Model S sedan to a track-ready beast of an electric vehicle (EV). Saleen will truly delight anyone who wants even more performance from their Tesla Model S without giving up everyday driveability.
Sven Etzelsberger taking note of track tested adjustments on the Saleen Tesla Model S
Saleen is doing what it does best – look at everything, answer every food group and make it astronomically better. When asked about the switch from gasoline internal combustion engine (ICE) vehicles to an all electric Tesla Model S, the Saleen team was quick to point out that all modern cars are controlled by electronics whether it’s an EV or not.
We can only guess that Saleen might be looking to work its tuning magic on Tesla’s electronic componentry. Afterall, an electric motor and its three moving parts are infinitely easier to work on than an opposing piston engine. Or is it? Will the Saleen R&D Engineering team led by Sven Etzelsberger be able to extract even more performance out of Tesla’s P85 443 ft·lb (600 N·m) electric motor? Only time will tell.
Steve Saleen blasting through record lap times in a race ready Tesla Model S.
Saleen Tesla Model S Track Testing
The Saleen Tesla Model S exemplified how much more it can give at full speed negotiating corners under the expert hands of Steve Saleen. We sat shotgun with Steve as he showed us the untapped performance of a Saleen unleashed Tesla Model S.
“The result will be a transformation of the Model S sedan to a track-ready beast of an electric vehicle (EV)”
Steve pushed the Model S through a series of decreasing radius and 90-degree turns, sweepers, and fast medium length straights all while maintaining the car’s natural finesse. The Saleen Model S reveals the sedan’s hidden personality; a neutral, very well balanced chassis under stress, that is not vicious, even when pushed to the outer bounds of physics.
We test drove the Saleen Tesla Model S on the track and also played chase with it in our very own Teslarati 48 race car, and can say the differences were astounding. The electric Saleen was fast. It cornered fast, pushed strong and the braking was radically different. It’s safe to say the Saleen Model S will be true to both of its DNAs, well engineered and race ready.
We can only say we are on pins and needles waiting for the final version of the Saleen Tesla Model S to be made public. It will reveal how far the Model S engineered platform can be pushed and we think it will surprise many. In the meantime we’re counting our lucky stars for having caught a glimpse of this incredible moment in EV history, when Saleen turned his attention to electric cars.
Sven Etzelsberger taking note of track tested adjustments on the Saleen Tesla Model S
Steve Saleen blasting through record lap times in a race ready Tesla Model S.
Nicolas Zart
Nicolas’ first car recollection at 6 years old was the back of a Bugatti 37A. After having driven an AC Propulsion eBox and the Tesla Roadster, it was clear where the future of the automobile was, the electric drive. Ever since 2006, he covers electric vehicle and alternative energy news, test driving, interviewing and filming it all.
CORONA, Calif., June 11, 2014 /PRNewswire/ — Saleen Automotive, Inc. (OTCQB: SLNN), (OTCBB: SLNN) (the “Company”), an American specialty manufacturer of high performance vehicles, technical performance parts, lifestyle accessories and apparel, is pleased to announce it has been invited to attend and present at the EyesOn Design automotive show as part of the festivities commemorating the 50th Anniversary of the Ford Mustang.
For more than 25 years, the Detroit Institute of Ophthalmology has sponsored EyesOn Design, an annual international exhibition that celebrates automotive design excellence of the past, present and future. Held on Father’s Day at the Edsel & Eleanor Ford House in Grosse Pointe Shores, Michigan, the show features a new theme each year.
“We are honored to be a part of the presentation at this well-attended and respected automotive event,” stated Steve Saleen, CEO, Saleen Automotive. “Additionally, we are very pleased to be recognized as an integral component in the legendary history of the Ford Mustang, a vehicle on which I built my brand and to this day continue to push forward to the edges of automotive excellence.”
For more information and updates regarding Saleen Automotive visit the following online locations:
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.
Enter For A Chance To Win a Mustang! 2014 SALEEN® 302 Black Label 625 HP
NO PURCHASE NECESSARY. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. LEGAL RESIDENTS OF THE 50 UNITED STATES, DISTRICT OF COLUMBIA AND PUERTO RICO, 18 YEARS AND OLDER. VOID WHERE PROHIBITED.
NO PURCHASE NECESSARY. PURCHASE WILL NOT IMPROVE CHANCES OF WINNING. GRAND PRIZE WINNER MAY BE REQUIRED TO PAY APPLICABLE TAXES BEFORE TAKING POSSESSION OF THE GRAND PRIZE
ELIGIBILITY
The Eagle One/SALEEN Black Label Sweepstakes (“Sweepstakes”) begins on January 1, 2014 at 12:00:00 a.m. Eastern Time (“ET”) and ends on December 31, 2014 at 11:59:59 p.m. ET (“Promotion Period”). The Sweepstakes is open to legal residents of the 50 United States, the District of Columbia, and Puerto Rico who are at least 18 years old and the age of majority in their jurisdictions of residence at the time of entry. Void where prohibited. Employees of Sponsor, Administrator, and their respective parent companies, subsidiaries, affiliates, advertising agencies, public relations agencies, prize suppliers, including any vendors providing services in connection with this Sweepstakes (collectively, the “Sponsor Affiliates”), and employees, agents, directors, officers (including members of their immediate family – i.e., spouse, mother, father, in-laws, grandmother, grandfather, brother, sister, children and grandchildren – or same household) of Sponsor, Administrator, or any Sponsor Affiliates are not eligible to participate.
TO ENTER
During the Promotion Period, you may enter the Sweepstakes as follows. Go to http://www.eagleone.com, and follow the on-screen Sweepstakes instructions to enter. You must submit all required information to enter, and all of the information you submit must be complete and accurate. Upon completing the steps in this paragraph, you will receive one (1) entry into the Sweepstakes.
Limit one (1) entry per person and per email address. No mechanically reproduced entries of any kind permitted. Illegible and incomplete entries are void. Sponsor is not responsible for lost, late, mutilated, postage due, misdirected entries or entries not received regardless of cause. In the event of a dispute over who submitted an online entry, the entry will be deemed to have been submitted by the authorized account holder of the e-mail account identified on the online entry form. The authorized account holder is deemed to be the natural person who is assigned to the e-mail address by the relevant entity responsible for assigning e-mail addresses for the domain associated with the submitted e-mail address. Entries become the property of Sponsor and will not be returned. By entering you consent to be bound by these Official Rules and by the decisions of Sponsor.
PRIZE DRAWING
Potential winner(s) will be selected by random drawing on or about February 1, 2015. Odds of winning will depend upon the number of eligible entries received.
GRAND PRIZE
The one (1) Grand Prize winner will receive, upon verification of eligibility, one (1) 2014 SALEEN 302 Mustang Black Label automobile (the “Vehicle”). The Grand Prize has an approximate retail value of $62,000.
The Vehicle will be shipped at Sponsor’s expense to the address provided by the Grand Prize winner at the time of entry or to another address in Sponsor’s sole discretion. The Grand Prize winner will be responsible for all applicable taxes and expenses including, but not limited to, excise tax, registration, title and license fees, insurance, and all other costs incurred in claiming, registering, or using the Vehicle. The Grand Prize winner may be required to pay applicable taxes before taking possession of the Vehicle. Sponsor will determine all Vehicle options including, but not limited to, motor, powertrain, suspension, brakes, and exterior and interior colors. The Grand Prize winner will be responsible for all costs associated with any upgrade or options not included in the prize description. Sponsor does not make and is not responsible or liable for any warranty, representation, or guarantee, whether express or implied, in fact or in law, relative to the Vehicle including but not limited to its quality, fitness for any purpose, or mechanical condition. The Vehicle will be delivered solely with the express limited warranties set forth in the Vehicle’s Owner’s Manual, if any, which warranties will run for the term set forth in the Manual. Sponsor reserves the right to extend the delivery date or, in its sole discretion, to substitute another model or another vehicle for any reason whatsoever. The Vehicle will be released only upon presentation of valid driver’s license and satisfactory proof of insurance and any other documentation required by law.
Prizes are awarded “AS IS.” Neither Sponsor nor Sponsor Affiliates make offer any warranty or guarantee, either express or implied (including, without limitation, quality, merchantability and fitness for a particular purpose) in connection with this Sweepstakes or any prize. Prize details and availability are subject to change, in which case a prize of equal value may be substituted at Sponsor’s sole discretion. Prizes consist only of the items listed, are non-transferable, with no cash redemption or substitution except at Sponsor’s sole discretion. Federal, state, or local taxes on prizes, if any, and any other costs, fees or expenses not listed above are the sole responsibility of each winner.
NOTIFICATION
Winner(s) will be notified by available phone number or mail/email address, as determined solely by Sponsor. To claim the Grand Prize, Sponsor may require winner(s) to complete, sign, and return Affidavit of Eligibility/Liability Release/Publicity Release forms, and other applicable documents, which may require a social security number, postmarked within ten (10) days of the date on the notification. At Sponsor’s discretion, winners may be required to produce picture or some other form of proper identification to claim any prize. Sponsor reserves the right to substitute any prize with prize of equal or greater value. If a potential winner cannot be contacted, fails to timely claim the prize, is disqualified, fails to timely execute and return any required forms, or if the prize notification is returned as undeliverable, an alternate winner will be selected from other potential winners and/or by random draw from all remaining eligible entries. If by reason of printing or other error, more prizes are claimed than the number of prizes set forth in these Official Rules, a random drawing will be held to award the advertised number of prizes in the relevant category. Under no circumstances will more than the advertised number of prizes be awarded.
PUBLICITY & MARKETING:
Acceptance of any prize constitutes permission to the Sponsor to use winners’ name, voice, statements, image and likeness for purposes of advertising and trade, in any medium, without further compensation or notice, unless prohibited by law. Submission of contact information in connection with this Sweepstakes (whether or not required), including mailing address, phone number, and email address during entry constitutes permission for Sponsor to add entrant to Sponsor’s customer database and to contact entrant in the future for promotional and other reasons. You may opt-out of receiving such communications as set forth in Sponsor’s Privacy Policy (located at eagleone.com) or as provided within any such marketing materials (e.g., using the “Unsubscribe” feature provided in the footer of Sponsor’s emails).
NO LIABILITY INDEMNIFICATION:
Sponsor, Administrator, and Sponsor Affiliates are not responsible for and entrants release each from any failures of any kind (whether caused by computer, technical, or human error) which may either limit the entrant’s ability to submit an entry, claim a prize, or otherwise participate in this Sweepstakes, or Sponsor’s ability to include all eligible entries, conduct random drawings, notify potential winners, or otherwise execute this Sweepstakes in the manner intended. Entrants further release and agree to indemnify Sponsor, Administrator, and Sponsor Affiliates from any and all liability, claims or actions of any kind whatsoever arising from injuries, damages, or losses to persons or property which may be sustained in connection with this Sweepstakes including, but not limited to: (a) the receipt, ownership or use of any prize awarded; (b) any travel or prize-related activity; (c) any typographical or other error in these Official Rules or any other materials disseminated by Sponsor or Administrator; and (d) any technical malfunction, failure, error, omission, interruption, deletion, defect, delay in operation or communications line failure, regardless of cause, with any equipment, systems, networks, lines, satellites, servers, computers, or providers used by an entrant, Sponsor, or Administrator.
OTHER TERMS:
Decisions of Sponsor on all matters related to the Sweepstakes are final. Sponsor reserves the right to cancel or modify the Sweepstakes for any reason, including but not limited to, if fraud, misconduct or technical failures destroy the integrity of the Sweepstakes, or if a computer virus, bug, or other technical problem corrupts the administration, security, or proper administration of the Sweepstakes as determined by Sponsor, in its sole discretion. Sponsor reserves the right to disqualify or prohibit the participation of an individual if fraud or tampering is suspected, or if the individual fails to comply with any requirement of participation or with any provision in these Official Rules.
CAUTION: ANY ATTEMPT TO DELIBERATELY DAMAGE OR UNDERMINE THE OPERATION OF THIS SWEEPSTAKES IS A VIOLATION OF CRIMINAL & CIVIL LAWS. SPONSOR RESERVES THE RIGHT TO DISQUALIFY AND/OR SEEK DAMAGES FROM ANY INDIVIDUAL MAKING ANY SUCH ATTEMPTS TO THE FULL EXTENT PERMITTED BY LAW.
GOVERNING LAW:
All issues and questions concerning the construction, validity, interpretation and enforceability of these Official Rules or the rights and obligations of participants or Sponsor in connection with the Sweepstakes shall be governed by and construed in accordance with the laws of Kentucky without giving effect to any choice of law or conflict of law rules or provisions that would cause the application of any other laws, and all entrants shall be deemed to have agreed to submit to the exclusive jurisdiction of the state and federal courts located in the Commonwealth of Kentucky. Claims may not be resolved through any form of class action. All claims, judgments, and awards from any disputed related to this Sweepstakes will be limited to actual out-of-pocket costs but will not include attorneys’ fees.
WINNER LIST:
To obtain a list of winners (available after February 15, 2015) send a self-addressed, #10-sized, stamped envelope (residents of Vermont may omit return postage) to: Valvoline, c/o Eagle One / SALEEN Black Label Sweepstakes, P.O. Box 14000, Attn: K Johnson LA 3S, Lexington, KY 40512. All requests for a Winner’s List must be received by February 28, 2015.
SPONSOR:
Ashland Inc., 3499 Blazer Parkway, Lexington, KY 40509.
ADMINISTRATOR:
The Cornett Group, Inc., 249 East Main Street, Suite 400, Lexington, KY 40507.
ABBREVIATED RULES:
For Print:
NO PURCHASE NECESSARY. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. LEGAL RESIDENTS OF THE 50 UNITED STATES. DISTRICT OF COLUMBIA AND PUERTO RICO, 18 YEARS AND OLDER. VOID WHERE PROHIBITED.
Sweepstakes ends 12/31/14. For Official Rules, prize descriptions and odds disclosure, visit http://www.eagleone.com/. Grand Prize winner may be required to pay applicable taxes before taking possession of the Grand Prize. Sponsor: Ashland Inc., 3499 Blazer Parkway, Lexington, KY 40509.
For Online Banner Ads
NO PURCHASE NECESSARY. Ends 12/31/14. To enter and for Official Rules, visit http://www.eagleone.com/.
For Online Ads – Not a Banner
NO PURCHASE NECESSARY. Legal residents of the 50 United States, District of Columbia and Puerto Rico, 18 years and older. Ends 12/31/14. To enter and for Official Rules, including odds, and prize descriptions, visit http://www.eagleone.com/. Void where prohibited.
RIMS GIVEAWAY
NO PURCHASE NECESSARY. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. LEGAL RESIDENTS OF THE 50 UNITED STATES. DISTRICT OF COLUMBIA AND PUERTO RICO, 18 YEARS AND OLDER. VOID WHERE PROHIBITED. Sweepstakes ends 11/14/14. Winner may be required to pay applicable taxes before taking possession of the Prize. Sponsor: Ashland Inc., 3499 Blazer Parkway, Lexington, KY 40509
WHITEFISH, MT / May 28, 2014 / Saleen Automotive Inc. (OTC: SLNN), a specialty manufacturer of high performance vehicles, technical performance parts, and lifestyle accessories, has significantly expanded the quality and depth of its products. Over the past few months, management has focused on revving up its business with new product launches, existing product enhancements, and new team members.
In this article, we’ll take a look at these initiatives and management’s progress in building long-term value for the company’s shareholders.
Saleen’s Take on Tesla
Tesla Motors Inc. (NASDAQ: TSLA) has made big waves in both the automotive and financial world with its breakthrough vehicle line-up. With the best ratings for its class, the Tesla Model S has become a blueprint for how electric vehicles should be designed. The stock’s meteoric 117% rise over the past 52-weeks have also impressed many investors skeptical of its ability to profit in the EV space.
In January, Saleen Automotive announced its intent to produce a Saleen Tesla Model S sports car based on the iconic frame. Industry experts speculated that the high-performance automotive company would focus on new aerodynamics, new materials (e.g. carbon fiber), and perhaps some changes to the vehicle’s suspension rather than tweaking anything it’s widely praised for (e.g. its engine performance).
The Saleen Tesla Model S would sit alongside the company’s existing retrofitted high-performance vehicles, including Ford Inc.’s (NYSE: F) Mustang, General Motors Inc.’s (NYSE: GM) Chevrolet Camaro, or Fiat SpA’s (OTC: FIATY) Dodge Charger. The firm’s other products include its Saleen S7 supercar, which was prominently featured in the movie Need for Speed in March 2014.
Better Materials, Lower Costs
Saleen Automotive has also been busy improving the quality of its new and existing product lines. With upcoming aesthetic and performance improvements in its pipeline, the company is being positioned to increase sales by differentiating itself from the competition. The company is also reducing costs by bringing components in-house, in order to ultimately drive long-term shareholder value.
In February, the company announced an agreement with AC Propulsion to assist with the technology and implementation of its EV powertrains and batteries. As a key technology provider to Tesla in the past, AC Propulsion specializes in alternating-current based drivetrain systems for electric vehicles. These systems are ideally suited for maximum efficiency and high performance.
More recently, the company announced an exclusive agreement with BASF SE (OTC: BASFY) to exclusively use its products at its campus in California. The agreement with enable the firm to develop all new colors using co-developed technology and Saleen’s state-of-the-art facility, while helping lower costs by enabling the company to bring paint under its roof rather than subcontracting to someone else.
Building a Better Team
Saleen Automotive Inc. was already founded by one of racing’s legends, but that’s not stopping the team from adding more fuel to the engine. In May, legendary driver and businessman Joe Amato agreed to join its Board of Directors to provide key technical and business advice. Mr. Amato’s accomplishments on the track are rivaled by his high-performance auto parts distribution business.
Before that, the company also added a world-class advertising agency called Havas Edge to create a nationwide advertising campaign. Havas is the largest integrated full-service direct response agency in the U.S., using data and analytics to drive results for its clients. The addition of the advertising firm represents a key partnership that could drive brand awareness higher over the long-term.
The combination of Board of Director experience and strategic partnerships should continue to assist the company in its efforts to expand brand awareness, build better products, and ultimately generate higher revenues and profits. In particular, Mr. Amato’s presence on the Board of Directors also represents a strong vote of confidence in the company and its management team.
Looking Ahead
Saleen Automotive Inc.’s efforts have already resulted in some improvements to its top- and bottom-line financial results. Looking at its core Vehicles & Parts revenue, the company reported a 77.1% increase to $1,076,153 during the three-month period ended December 31, 2013. Management attributed the gains to higher vehicle sales from the addition of new dealers and expansions with existing dealers.
Investors in the high-performance vehicle or electric vehicle space may want to keep an eye on the stock over the coming months. With new products, product enhancements, and management talent added to the mix, the company could start to see its business accelerate both operationally and financially over the coming quarters if management is able to continue to execute on its plans.
The Saleen Tesla Model S exemplified how much more it can give at full speed negotiating corners under the expert hands of Steve Saleen. We sat shotgun with Steve as he showed us the untapped performance of a Saleen unleashed Tesla Model S.
