[Arnold25764]

So when is the next r/s?

[double_m]

I said it before, this guy is an experienced crook. He knows how to skirt the line and hopefully, at some point, he stepped over that line and our complaints get him indicted! Dude is a f'ing cockroach!!! $MULN

[TenKay]

They aren’t going to get the RS done by Friday….this could get interesting. I wonder if Nasdaq is asking questions? They had to notify them on Monday by noon.

[ZZZ888]

30+ % today. Woot woot to the moon. LMAO

[pinkslipjunkie]

I don't see how he made it this far...,most stocks after two R/S seem to end up at .0001

[double_m]

Everyone needs to file a @SECGov fraud report on @DavidMichery to begin turning the wheels of justice for $MULN scam.

They turn slow but they eventually do turn.

David will be arrested. pic.twitter.com/hSMwOJPp6D

— GCR (@advisors_g19794) September 9, 2024

[rbl100]

This stock is silliness. The whole concept is flawed from the start. Reflected in its pps. In five years people will be saying "oh they had electric cars". Tried this over 100 years ago and it went extinct then. It's not practical, and is the most inefficient way to travel besides being the most toxic to the realm around us. Gasoline is 100 times more energy dense that Li-ion. Oh by the way I have plenty of land I own in Mohave County.

[Wayne R]

Where is the pump happening?

I just watched the evening news, it turns out that with AI we can make up all kinds of shit about anything.

The truth no longer exists.

[wickerman]

$MULN the pre-delisting pump and dump is as old as time that's how crooked CEO's get their maximum bagholders.

[Wayne R]

You go girl!!

[georgie18]

MULN...1719...🥳...

georgie18

Member Level
Re: None

Wednesday, September 11, 2024 1:00:04 PM

Post#
657113
of 657116
MULN...1675...Off the .14 range dip...🥳

[georgie18]

MULN...1675...Off the .14 range dip...🥳

[Wayne R]

As a trade it is not bad, 14 to 18.

Obviously some knuckle head is pumping it somewhere.

[KngmAz]

Yeah - amazing how some people just never learn. Oh well.

[Wayne R]

Hard to imagine that a MULN pump is still possible, but have at it.

[TenKay]

Time it right…these haven’t lasted more than the day.

[Wayne R]

Sorry people for using a valid work of art by Sir Ray Davies in that fashion.

[Wayne R]

Yup, here is my moon

[peezypowell]

To tha MOON PEEPS

[Wayne R]

In a nutshell, here is all anyone needs to know. While they say they have been short since January, 2024, I'd be embarrassed to make that claim. Shoulda been short 22,500 reverse split shares ago.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175019884

[Wayne R]

No lack of crazy people in the stock market..... 🤪

[Harbor6460]

What a joke here again. Whomever bought or believed is crazy with all these rs

[Wayne R]

It sure is, but if you want a great deal on an electric truck, get your butt to Randy, you can probably negotiate the price to, say....

Whatever you have left in a pack of smokes.

[janice shell]

What a bizarre mess.

[TenKay]

They don’t produce any cars and never will. A few years back with some of the early funding Michery contracted to get a couple of prototypes built for around $2 million. The earlier narratives used these cars to pump the stock. Pretty typical penny stock story…only on a much more expensive scale.

They did a “tour” with the vehicles that was highly hyped.

About a year ago (or maybe less) they announced they were abandoning the passenger car market to focus on commercial trucks. It would probably have cost them $1 Billion to actually bring the Mullen Five into actual mass production.

Interestingly they still have a “passsenger vehicle” division listed in their website.

[janice shell]

Thank you. I can't bring myself to read about what they do to the trucks. And cars.

Seems to be a very strange way to run a business.

[TenKay]

They import Chinese Class 1 and Class 3 EV truck kits and assemble them and make modifications that supposedly make them legal in the US. The amount of modification is said to be significant enough that they can say they are American made. You’d have to go back through the PR’s.

They also have a majority interest in a company called Bollinger that does produce trucks as well. Almost went into bankruptcy but Mullen threw them a life line.

They have already produced around 300 of the Chinese Class 1 and 3 vehicles and have sold 8-10. The rest sit on the lots of the Randy Marion dealership. This all came out of the ELMS bankruptcy a couple of years ago when they bought the assets.

Nobody is buying them and after one year Randy Marion can return them.

It is going to be an interesting 6-10 months from now.

They got $250 million in funding from Esousa/Ault which killed the stock price over 99.99%. They are working through the second $250 million.

The dilution is the worst I have ever seen.

[janice shell]

What ARE they producing? Certainly not electric cars. Or trucks.

[TenKay]

It is because of the significant production assets they have. Only problem is nobody is buying what they are producing.

That’s what makes this so interesting.

[janice shell]

That's quite a burn.

[TenKay]

Of all the stocks I have watched in the last dozen years (a mere shadow of your experience 😉) this has been the most interesting.

It will implode at some point…and a lot of assets to actually deal with…which will be interesting.

A delisting would move that along quickly as there is no way he can raise $16 million a month from the OTC (his current cash burn).

[janice shell]

Pulling up a chair, and will get some popcorn.

[TenKay]

So the way the rule is written it appears to be backwards looking. At the time of the 3rd reverse split they had only done 1:225. It appears Nasdaq doesn’t give a rip about what that third one was only that they were under the 1:250 limit when they did it. I haven’t found anything to suggest that Nasdaq limits them to 1:250 in total….it only seems to related whether they get a grace period based on what the total ratio has been in the last 2 years.

I am curious whether Nas turns a blind eye to an RS if it is done prior to the 30 day expiring.

I would hope not. It will be interesting to see what Nasdaq does. They are not obligated to process/approve an RS and can delist a stock for massive dilution…in the public interest. Have they ever done that? Who knows.

But if they wanted to demonstrate to the serious companies on Nasdaq that they are serious about the influx of penny stocks since the changes to 15c2-11, this would be the one to kick off.

But I am not holding my breath.

[janice shell]

Yes, you're right. The 1:250 rule is from 2020. Given that, how did the company manage to do three last year?

And I agree with you that the new rule is inadequate. What people--and professionals like Virtu--want to see if for the exchange to stop listing so many shitty companies, and to get rid of more of those it has already listed.

[TenKay]

The 30 days below $1 ends this Friday. That means they would get a notice of delisting next week regardless of what the stock does on Monday since they have done a total of 1:22,500 in the last 17 months and are not eligible for any grace periods. They could still appeal, but it would be straight forward for Nasdaq to decline…which might be an optimistic assumption.

Originally the shareholder vote was scheduled for Friday and many of us pointed out the problem with that. And sure enough a couple of weeks ago Michery moved it back to Monday.

He knows exactly what the situation is.

[janice shell]

Why do they have to get it done by Friday morning? How long has the stock price been out of compliance with the listing standard? Can't they negotiate with Nasdaq for another 180 days? I know that's been limited now, but in reality, the exchange seems willing to allow issuers endless delays of one kind or another.

[TenKay]

That is not a new rule…it’s been around for awhile I believe.

What Nasdaq has proposed is that when a company appeals their second grace period they are removed until the appeal.

Which is completely inadequate in my opinion.

They don’t deal with serial reverse splits that are completed prior to triggering the 30 day period…which is exactly what Muln is trying to do here.

[TenKay]

Something isn’t right. If they don’t get the RS done for Friday open they are screwed. This is why Michery moved the vote back to Monday.

My question is would they have submitted this to Nasdaq for approval before announcing? If I was Nasdaq I would put a hold on things. Otherwise all their talk of making it harder for penny stocks to remain on Nasdaq via reverse splits is meaningless.

This stock is 1 for 22,500 in the last 17 months. It is the posterchild for what should be removed.

[janice shell]

Nasdaq states that a company can't do more than a combined reverse split of 1:250 over a 2 year period.

Yes, that will be a problem for them.

I suspect the next won't spark a Nasdaq delisting. My guess is that the new rule specifies that the clock on the two years started ticking when the new rule became effective. So MULN won't have to worry about any of last year's splits.