If you were thinking about putting in an order for the 2015 Saleen 302 Mustang, you might want to hold off as documents filed with the U.S. Securities and Exchange Commission show the tuner is in rough shape.

If you were thinking about putting in an order for the 2015 Saleen 302 Mustang, you might want to hold off as documents filed with the U.S. Securities and Exchange Commission show the tuner is in rough shape.

Uncovered by Jalopnik, the Form 10-Q filing reads like as nightmare as it says the company has incurred an operating loss of $3,056,980 during the "six months ended September 30, 2014." The statement goes on to say they have a stockholders’ deficit and working capital deficit of $5,718,593 and $4,966,212 - respectively - as well as $583,900 in unpaid payroll taxes and $1,148,574 of accounts payable that are more than 90 days past due. The company also owes a bank $398,176 this month and expects to default unless another extension is granted.

Those are some pretty grim numbers as the company acknowledges in their filing by saying "these factors raise substantial doubt" about their future. This isn't to surprising as the company only had $7,261 of 'cash on hand' as of September 30th and stated they are "not generating sufficient funds from operations to cover current operating expenses."

Saleen is currently seeking additional funds but there are no guarantees at this point.

Check out the SEC filing for full details

 

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