On the heels of the Fast & Furious 6 movie launch, a supercharged announcement was made Thursday which could ignite one particular penny stock, leaving all the others on your radar screen in the dust. For a month now, W270, Inc. (OTC: WSTY) has been working out a merger agreement with the muscle car genius, Steve Saleen, founder of Saleen Automotive Inc. In case your an off the show room floor type of person, the Saleen Entities operate a performance automotive enterprise that manufactures and sells high-end sports cars and related parts will be what’s reversing into the shell corp of W270 Inc.
With Steve back at the helm of the Company and a float so low that even one trade could push the NOS button on this one, WSTY stock is officially on the launching pad for a trade worth every penny.
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WSTY Stock Quote
Market Cap: 4.40M
Last (May 17): 0.55
Issued and Outstanding: 8,000,000
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This reverse merger of Saleen into W270 has us very excited. If you aren’t very familiar with what Saleen has produced in the past, have a look at this list here where Saleen vehicles have appeared on the big screen:
- Bruce Almighty – Saleen S7 2003
- Hollywood Homicide – Saleen S281 SC 2003
- 2 Fast 2 Furious – Saleen S281 SC 2003
- The Bachelor – Saleen S7 and S281 SC 2007
- Red Line – Saleen S7 Twin Turbo 2007
- Entourage – Saleen S7 Twin Turbo 2007
- Iron Man – Saleen S7 Twin Turbo 2007
Transformers – Saleen S281 Extreme 2007
After regaining control of all the Saleen Entities after starting up SMS Supercars and filing a lawsuit in 2009 seeking an order directing MJ Acquisitions, Inc. to cease and desist from promoting their products under the Saleen name in any form. Steve’s creations, which began in 1983, were back in his control after winning the court ruling in 2011.
The former racer turned automotive entrepreneur resigned from Saleen Autosport in 2007. Steve soon after formed SMS Supercars in 2008 which branched out to build faster versions of the Dodge Challenger, Chevy Camaro and Ford Mustang.
Just over a month ago, while all the hype was building up for the latest sequel to the F&F movie premiere which rocked box offices last weekend, the Saleen 351 Mustang prototype was shown at the Fabulous Fords event at Knott’s Berry Farm in Southern California. One of the most iconic products from the Saleen heritage, the Saleen 351 Mustang (see here) is scheduled to go on sale later this year.
The newest addition to a long legacy of top-end production lines will undoubtedly force performance enhanced loyalists to forget about the troubled years of the Company after Steve departed and it turned its focus more on parts than on new creations from the chassis up.
Talk about Pimping out a ride, the newest version is set to have a 5.75-liter (351 cubic inch) V-8 engine equipped with a supercharger, Saleen’s 296 setup, which will increase output to 700 horsepower and 655 pound-feet of torque. This ain’t no driving Miss Daisy kinda ride!
The Saleen Entities are also developing hybrid and zero-emission vehicles for commercial applications and consumer markets.
So what can traders expect out of WSTY stock with this merger agreement?
According to the 8-K filed today, Steve Saleen will become W270’s CEO and President, while Robert Miranda will be its CFO, Treasurer and Secretary. The merger is set to be closed on any date prior to June 30, 2013.
Saleen Entities, from their 4 acre, 3 building industrial and office campus in Corona, California, plans to return as a global performance automotive brand and expand their production, sales and marketing operations extensively within the markets of the U.S. and into multiple international markets, as well as open their own retail outlets, market their expertise in specialist engineering and design services to third party clients, develop their own motorsport program and introduce their next generation supercar vehicle.
Now who doesn’t want to get into WSTY stock with that kind of horsepower behind it?
About WSTY Stock
W270, Inc., upon consummation of the merger agreement, will have the following subsidiaries:
- SMS Signature Cars, a California corporation
- Saleen Automotive, Inc., a Florida corporation
- SMS Retail – Corona, a California corporation
- Saleen Automotive Show Cars, Inc., a Michigan corporation
Saleen Inc., celebrating its 20th anniversary as a specialty, high performance vehicle manufacturer for street and track, specializes in the manufacture of vehicles for enthusiasts that include technology developed from the Saleen/Allen Speedlab race team, 8-time winners of sports car racing manufacturer championships.
Click here to view the SEC filings for WSTY.
Click here to view the website for Saleen.
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Assuming the deal IS CLOSED by June 30 as the agreement indicates, this penny stock, which will soon change to SLNN, screams MOMO as if it was parked in the driveway at 1327, the Toretto residence. WSTY stock is a must have on the accumulate list for those looking to get into a real deal of a Company with a 30 year legacy already behind it for proof (see here). Ride or Die!
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