SAVED From Bankruptcy: Fisker Secures $50 Million From Hedge Fund

Fisker is a swindle. If they had the ability to succeed, they would have done so a decade ago.

The Ocean looks good, and they are claiming an exceptional leasing package. Remains to be seen if they can deliver. We'll just have to wait and see.

$50 million is a drop in the bucket - certainly not enough to bring a new product to market - even if the vehicle is already being produced. Ten times that is what they need more likely. Unless you see more investors come forward - this is not going to get to market if they really need more engineering.

$50MM is just enough to keep funding essential start-up things = salaries, Massage Mondays, Sushi Saturdays, interest expense, electricity and internet.

Louis Bacon is a philantropist and hedge fund guy...here are some of his other charities in addition to Fisker...

"In 1992, Bacon created The Moore Charitable Foundation (MCF) to provide financial support to nonprofit organizations that work to preserve and protect wildlife habitat and improve water systems. Bacon has donated more than one million dollars to the environmental non-profit organization Riverkeeper.

In June 2012, United States Secretary of Interior Ken Salazar and United States Fish and Wildlife Service Director Daniel M. Ashe announced Bacon intends to donate a conservation easement totaling approximately 90,000 acres in the Sangre de Cristo Mountains bordering the San Luis Valley in Colorado. This easement will provide the foundation for the proposed new Sangre de Cristo Conservation Area.

Bacon owns the Trinchera Blanca Ranch located in the San Luis Valley. The Trinchera section of the ranch is currently protected by an easement administered by Colorado Open Lands. The new conservation easement Bacon intends to donate is to protect Blanca – thus protecting all 172,000 acres of land.

In addition to his work in Colorado, Bacon has helped preserve and protect environmentally sensitive land in New York, North Carolina, and the Bahamas. His key conservation projects include:

Robins Island, Long Island, New York: After purchasing the "Jewel of the Peconic" in 1993, Bacon secured the permanent protection of the land through a conservation easement and set about restoring a natural habitat that had been deteriorating for 300 years.

Cow Neck Farm, Long Island, New York: Bacon’s Cow Neck Preserve, LLC purchased the farm in 1998 and donated a 540-acre conservation easement to the Peconic Land Trust, thus preventing development and ensuring the protection of the area’s habitat.

Lyford Cay, Bahamas: Bacon is involved with the environmental restoration of Lyford Cay."

The Ocean looks good, and they are claiming an exceptional leasing package.
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Huh? They haven't even built any yet. "Exceptional lease deals" require an active used market and high residuals, neither of which seems remotely possible for a company that only sorta kinda exists at all.

what's $50mln to the (long-term) startup? Another 3-4 months with AC & heat in the executive offices?