Nearly a year ago, we shared that Saleen Automotive Inc. had negotiated a $10-million-dollar deal with a new investor that allowed the company the capital to build and deliver up to one Black Label Saleen Mustang per $1-million-dollars.

But it seems as if the unstable financial rollercoaster hasn’t come to a stop yet for Saleen. In fact, things have only become worse for Steve and his company, with two separate Ford dealerships (one out of Texas, and the other out of Tennessee) suing his company, alleging fraud and breach of contract.

According to Automotive News (AN), the aforementioned pair of large Ford dealerships across the nation are pretty upset with Saleen, having filed a lawsuit against the company. One of the Ford dealerships, which is Red McCombs Ford out of San Antonio, Texas, claims they paid Saleen in advance to modify three Mustangs for them to sell. Ostensibly, Saleen not only delivered the vehicles six months late, but reportedly more than $22,000 in upgrades were missing upon its deliveries.

AN also reported that the dealership has yet to receive a refund for the missing equipment, and even had to pay for the extra months of floor-plan expenses; which could amount to half of what Saleen exclaimed they started with at the beginning of the financial year (a total of $60,850 according to the same post).

Not too far from Texas, another dealership out of Bristol, Tennessee, named Friendship Ford told AN that they’ve been waiting for a ‘Yellow Label’ Saleen Mustang for nearly a year. The Mustang has been located at Saleen’s main headquarters in Corona, California, since September of last year, with Saleen saying its vendors they use are to blame for the extended delay.

Saleen even told AN that the alleged Mustang on order “was shipped in early June.” Yet the general manager of Friendship Ford said, they’re still waiting.

“I don’t know where the car is. I don’t have a clue,” Denny Fruth, general manager for Friendship Ford told AN. “Every month this year, it’s been another story. I actually thought about jumping on an airplane to L.A. and walking in the shop to see if it’s in there.”

It’s a crazy situation to see a nostalgic icon like Saleen in such a tough situation, both legally and financially. Albeit Steve says the company will be able to make a comeback, due to the nameplate and strong sales. We hope to see the tides turn for Steve and his company soon, as we’d hate to see the once great Mustang tuner become a thing of the past.