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The only due diligence people need to do here is look up the fact that this stock does a reverse split every few months if not sooner religiously. Total garbage.
muln trust with people are near zero be very caution about any videos or pr this company put out and do your dd for most of these pr are not true . this company use there pr network to dilute shares which we believe the sec should conduct a investigation .
Never get that 5 mins of my life back! DM should be living under bridge collecting a tax from those that wish to pass!
#MULN $MULN
— Scam_Likely (@mrgirldad77) September 24, 2024
The only thing this update is good for is court documentation. pic.twitter.com/LtIcc7bYTg
TTTIIIMMMBBBEEERRR ⚠️
PUT DAVID MICHERY IN PRISON NOW SEC 🔊
He will never do a single day in jail, especially when the regulators and SEC have authorized every move he's made this far
CEO will be in jail one day
In the immortal words of Groucho Marx: "Lying has become one of the biggest inductries in America." DM sure wasn't taking a nap that day in his Economics 101 class.
Has Nasdaq ever forced a company off become of the too many RS limit? A company that didn’t just allow itself to be pulled off but do try to stay?
Not as far as I know. DRYS did its eight reverse splits in one year before the "new" rule existed. It was certainly one of the most egregious serial splitters ever; maybe it prompted the rule.
But as you say, they didn't really make any serious provision for enforcement. But let's see what they do with MULN.
I suspect he is a narcissist and thinks he can talk his way out of it like any conman.
I still LMAO when he feigned audio difficulties during the Charles Payne TV interview when he went right at him.
These guys fold when they are called on their BS.
I would love to do an interview with him…😂
Not sure he would like it….
Truely odd because in the past he would usually just have someone type up some nonsense and drop it in an 8K, then piss off back into the shadows. What's so different this time?
I wonder how much “shorty” and “manipulation” bullshit he is going to spew?
I expect he won’t say a word about the dilution.
That is the only thing that has affected this stock…whatever the company “performance” is.
All very good recommendations. What I still don’t see is a suggested prohibition on Nasdaq simply not processing reverse splits even beyond 1:250 within 2 years.
Then there is no way to RS back into compliance.
Has Nasdaq ever forced a company off become of the too many RS limit? A company that didn’t just allow itself to be pulled off but do try to stay? I have seen many acquiesce but none that ever got pulled.
But then I have not done a lot of research until now.
Right now it appears companies can RS to there heart’s content as long as it is not within a compliance period.
If I was a penny stock I would simply RS when I got to $2 realizing the announcement itself would probably cut down the stock price further….but as long as I got it done with 10 days left in the 30 trading day window…don’t see evidence they would reject it.
Mullen Automotive CEO to Update Shareholders in Upcoming Video
September 23 2024 - 11:00AM
via IBN – Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces a forthcoming video update for shareholders, provided by Mullen CEO and chairman, David Michery. The Company is planning to release the video update on Tuesday, Sept. 24, 2024, at 9 a.m. Eastern and will be available on MullenUSA.com.
In the upcoming video, Michery will provide insights into key achievements by Mullen and Bollinger Motors, and recent progress made on expanding domestic and international sales and distribution channels. The video will be available for viewing on Mullen’s website and social media channels on Tuesday, Sept. 24, 2024.
“I look forward to providing our shareholders an update on our current Company efforts through Sept. 20, 2024. Thank you everyone for the continued support,” said Michery.
I agree. And I agree with the measures proposed by Virtu in its petition to the SEC:
https://www.sec.gov/files/rules/petitions/2024/petn4-830.pdf
It all depends on whether Nasdaq is serious or just lets the CM become a penny stock cesspool. Ironically, the OTC has better enforced standards at the moment.
I see a rock and a hard place in MULN's future...
“Of course, if it loses its exchange listing, it may have more trouble getting financing...“
This is the whole game, the whole ball of wax. Even his pretend automotive manufacturing business needs about $16 million a month to keep pretending. They have some significant facility assets and labor needs just to keep the charade going. He is still relying on channel stuffing to find homes for the vehicles they produce but don’t seem to be able to sell.
If they go to the OTC he will have to declare bankruptcy.
That is probably the only stick he has to keep existing shareholders from getting in his way.
NASDAQ’s processing of reverse splits and its enforcement of the minimum bid price rule.
Are they even connected?
It would seem not.
This is the stock that just keeps on giving and giving and giving.
The only problem is it just keeps giving it to all shareholders in the ass!!!
This is the stock that just keeps on giving and giving and giving.
The only problem is it just keeps giving it to all shareholders in the ass!!!
MULN for the record a new 52;week low....unreal....next r/s by christmas?
Look on the bright side: if the company gets delisted to the OTC, it won't have to worry about $1 minimum bid price. Of course, if it loses its exchange listing, it may have more trouble getting financing...
and the DOJ and FBI
Davie boyo deserves recognition.
You're right. And I hope the SEC gives it to him.
This stock is probably the first time I would see a path for a Class Action to get a return. Normally I ask what the point is because the balance sheet is so upside down there is nothing to attach or recover.
But it is different here. There are a lot of assets. The Board is exposed because there would be a larger recovery in liquidation than what the stock is worth right now.
Unfortunately the prefs have priority over most of it, but that would also be an avenue for a claim. There is also, likely, some major D&O insurance to go after as well.
I hope the inevitable epic failure here has some impact on the reputations of the members of the Board. I think their actions have been a complete betrayal of their fiduciary responsibilities.
Probably before that.
Lol
That's a perfect fit
in the upcoming class actions----nasdaq should be sued also.its criminal how they allowed $MULN 4 r/s in a year or so.
There is an important distinction I have been wondering about.
NASDAQ’s processing of reverse splits and its enforcement of the minimum bid price rule.
Are they even connected?
Surely the part of Nasdaq that processes Corporate Actions knew they were already well past the 1:250 cumulative ratio…or were they?
While Nasdaq has proposed new rules to make it easier to get stocks delisted which would suggest their intent to reduce the number of penny stocks on Nasdaq, they ALREADY have tools to do so likely their discretionary authority to delist in the public interest for highly diluted stocks.
The only reason Michery got the notice was because they could not get everything done by that Friday deadline.
What is to stop a company from just asking for repeated reverse split well before it goes below $1 and never have to deal with a compliance issue? Nasdaq seems to just process them no matter what.
$MULN--see the next episode of AMERICAN GREED starring
David Michery
It boggles my mind as well
How he (David Michery) isn't in prison is CRIMINAL
MULN for the record a new 52;week low....unreal....next r/s by christmas?
DM is corrupt, SEC is corrupt, or too many people have way too much of disposable income. IMO it’s all three. Been in and out year your years. Sorry to all shareholders like me. Took a while but I learned.
Another PR with the word 'milestone' in it. We all know what that means... free shares for all my friends!!! $MULN
Don't worry, it'll probably be delayed enough for Davie boyo to cash in his incentive shares.
JMO
Blackbird
Police found my stake truck not my mower past down the street followed them to their house gave me the address question the thieves haven’t been charged yet because probably a bigger ring cost me $1200 to tow and move it or with the cops it’d be towing and storage
I dropped another one to SEC last night😉 notifying them about this fiasco. If they didn't, now they know. I'm averaging about 2 p/wk now. What else do I have to do when I'm watching a baseball game.😆 F'em!!!
One can only hope that, eventually, what goes around,comes around.
That isn't really a comfort to those that lost money, but I'm sure it'll make people happy for a couple minutes.
If only there was a way to do 2 minutes of research to find out that Michery has a history of doing these kinds of things.
It takes a lot of time to lose hundreds of millions and drive a company into the ground, screw over shareholders, etc.
Davie boyo deserves recognition. 🤥
I enjoyed your story. You were in for $12K with 5000 shares at $2.35 .
Nasdaq may still yank them.
Perhaps shareholders who're down to a single share thanks to the reverse splits should write to the Nasdaq complaining. Or even call them.
Wait, they received it on Monday the 16th and waited until Friday AH to notify SHs? LMMFAO!!! Crooked bastards!!!
And although they issue a PR whenever Michery sneezes, they couldn't bother to do it for this.
Nasdaq processed the reverse split but still sent a delisting notice and the company still has to request a hearing.
Looks as if the people who processed the reverse split didn't know about the delisting notice. Which is careless of them. Or of the way Nasdaq is organized.
They screwed up and got a delisting notice 4 days ago
Yep. I only just noticed today's filings now, and I confess I'm surprised. They got the delisting notice the day BEFORE the r/s became effective:
On September 16, 2024, Mullen Automotive Inc. (the “Company”) received formal notice from the Listing Qualifications department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) that, based upon the closing bid price for the Company’s common stock, par value $0.001 per share (the “Common Stock”), for the previous 30-consecutive business day period, the Company no longer satisfied the minimum bid price requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”).
The Staff further indicated that, based upon the Company’s implementation of one or more reverse stock splits within the past two years at a cumulative ratio of 250 shares or more to one in contravention of Nasdaq Listing Rule 5810(c)(3)(A)(iv), the Company’s securities were subject to delisting unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the “Panel”). The Company plans to timely request a hearing before the Panel, which request will stay any further suspension or delisting action by Nasdaq at least pending the ultimate conclusion of the hearing process.
https://www.sec.gov/Archives/edgar/data/1499961/000182912624006389/mullenautomotive_8k.htm
And then 15 minutes later, MULN filed an S-8 registration statement, registering a lot of stock that had been issued to Michery for achieving "milestones":
https://www.sec.gov/Archives/edgar/data/1499961/000182912624006391/mullenautomotive_s8.htm
Don't crack a rib laughing...
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Moderators Wayne R m$teamworkotc Huggy Bear Dragon Lady SmellMyFinger |
I.P.O.'D @ $13/ BIG TIME STORY/ #muln #stock #mullen $MULN NEW TRADING/MULN Stock:
The Biggest Short Squeeze in HISTORY or SELL it ALL? ??
1,111 viewsFeb 28, 2022
https://www.youtube.com/watch?v=73n0UiGxvDE&ab_channel=MoonMarket
E.V. PLATFORM;
MULN [NASD] |
Mullen Automotive, Inc. |
Consumer Cyclical | Auto Manufacturers | USA |
https://www.mullenusa.com/
Index | - | P/E | - | EPS (ttm) | -10.64 | Insider Own | 28.60% | Shs Outstand | 17.47M | Perf Week | -11.55% |
Market Cap | 21.60M | Forward P/E | 0.92 | EPS next Y | 0.75 | Insider Trans | -0.33% | Shs Float | - | Perf Month | -78.36% |
Income | -80.70M | PEG | - | EPS next Q | 0.16 | Inst Own | 3.30% | Short Float | - | Perf Quarter | -92.19% |
Sales | - | P/S | - | EPS this Y | -536.60% | Inst Trans | 46.73% | Short Ratio | 0.16 | Perf Half Y | -93.52% |
Book/sh | -0.60 | P/B | - | EPS next Y | 294.70% | ROA | -265.40% | Target Price | 23.00 | Perf Year | -93.31% |
Cash/sh | 0.00 | P/C | - | EPS next 5Y | - | ROE | 532.00% | 52W Range | 0.52 - 15.90 | Perf YTD | -86.85% |
Dividend | - | P/FCF | - | EPS past 5Y | 3.70% | ROI | - | 52W High | -88.42% | Beta | 2.55 |
Dividend % | - | Quick Ratio | 0.50 | Sales past 5Y | - | Gross Margin | - | 52W Low | 253.96% | ATR | 0.28 |
Employees | 44 | Current Ratio | 0.50 | Sales Q/Q | - | Oper. Margin | - | RSI (14) | 46.64 | Volatility | 27.83% 20.24% |
Optionable | Yes | Debt/Eq | - | EPS Q/Q | -431.40% | Profit Margin | - | Rel Volume | 88.85 | Prev Close | 0.69 |
Shortable | Yes | LT Debt/Eq | - | Earnings | - | Payout | - | Avg Volume | 6.99M | Price | 1.84 |
Recom | - | SMA20 | 7.64% | SMA50 | -47.36% | SMA200 | -78.15% | Volume | 492,790,936 | Change | 167.53% |
02-07-2021
PER IHUB MGMT
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