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The interest rate they quote is a distraction…to cover up the fact they are actually paying 225% annualized rate on the loan.
They will get $32 million on January 1 and have to repay $50 million 3 months later.
The $18 million is called an “original issue discount”…but it is nothing more than the vig to the lender.
so they are paying about 56% for a three month loan.
“CompetitorTech” should be your first clue it is fake…likely AI generated.
There is no evidence of such a lawsuit and HMBL would have had to file an 8K.
The terms of the note are awful. They are essentially paying an annual interest rate of 225%.
Am surprised that Michery is desperate for cash so quickly…
Buy everything you can. What could go wrong?
That is short volume. It is meaningless…
Long live Q107! 😉
Randy Marion…did you call the right place?
And he filed it after hours the last trading day before Christmas.
Is there ANYONE that truly still believes in Michery?
Which is what I said back in 2015:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=117832019
I have tried to warn you…
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=168481560
Interesting thread to follow…
Oh well….
Holy effin….hell.
Pursuant to the Debt Agreement, the Company will issue a Note that will have an aggregate principal amount of $50,000,000, for a total purchase price of $32,000,000, or an original issue discount of $18,000,000.
Damn…right again…ok…that is the scotch talking.
“instead of just ending the business“
Well, you first have to have an actual business to end…
There has NEVER been one.
But then, I have been saying this for a decade.
Next stop… 1 Trillion.
This POS has never ceased to amaze me.
Do the US import logs even support the “100” number or are they claiming credit for the ELMS inventory they bought?
I wonder how many vehicles have actually been sold to an end user with cash received? All the PR’s about RM, “invoiced”, 100th vehicle produced, etc.
But there is no actual way to figure out how many were sold to an end user?
For all we know they could have 38 vehicles sitting on RM lots that they are paying to store with invoices that are only payable when they are sold.
Michery simply can’t be trusted.
The big question is…what is the OS? Nobody knows how much it has increased since Nov. 6.
This quote from another chat board made me LMAO….
“Awesome day, instead of being down 98%, I am now down only 97%!”
Well if the past extremely high volume bumps are any indication the volume will decline with the stock price. Can’t say it will go back to 8 tomorrow.
But these things have not lasted more than a day or so.
At least 4X the OS traded today.
Yeah…the same price it was about a week ago…
This is happened to Muln before and other stocks I watch. They have this crazy volume day at multiples of the OS and then poof…it comes back to earth. It is most likely algo/bot/HFT trading where a share can change hands a dozen times or more in a single day.
They volume will go away and the share price will drop…as it has the last four times this has happened.
Maybe the financiers have some involvement so they can short against the box.
It’s Lucy and the football. This has happened 4-5 times and lasts a day…in a couple of cases maybe two.
It’s a great opportunity to short or sell and wait for it to drop to get back in.
Me too.
Ignorance is protective covering against embarrassment.
“EARNINGS WILL BE RELEASED TOMORROW MORNING !!!!! “
And you know this how?
One would think that Michery could get his financiers to stop dumping for a little while.
LOL. Guess not.
What the hell does South Korea’s security laws have anything to do with Mulllen?
“if MIKP share price were $25 post-RS“
And if my aunt had balls she would be my uncle.
They were diluting even today!!! LOL. This thing really is toast.
Have you not read the PR? It’s in the title.
https://ih.advfn.com/stock-market/NASDAQ/mullen-automotive-MULN/stock-news/92849162/mullen-automotive-inc-announces-1-for-100-reverse
“a R/S isn't the actual change in share price value but it does seem that after a R/S as you know will bring on huge(accelerated) price drops if stock continues to be diluted“
Absolutely. Especially when the diluting financiers are shorting against the box.
“Surf, you call everyone an idiot, but if you believe that the market makers took a $4 mil loss to have HMBL trade at roughly .00095 for months instead of dropping the price all the way down to .0001, you are the biggest idiot on earth.”
What are you talking about? MM’s don’t keep inventory of crap like this.
They are executing trades on behalf of their clients. If the share price is being propped up…it is one of those clients doing so.
The “value” of the company is only partially reflected in the share price. The market Cap is the actual value reflected in the market and most believers don’t realize the market cap has been remarkably consistent if not a little higher than when the dilution started in earnest.
But why should they let facts get in the way. The drop in the share price is ENTIRELY attributable to the massive dilution.
When it RS’s to $9 the margin requirement will only be about 50% of that….as opposed to 2500% right now.
And he is basically giving a warning (however reluctant) that dilution will continue in 2024. I suspect his lawyers made him disclose that one.
Absolutely NOBODY can be surprised now as this continues to descend in 2024.
This didn’t age well…
We won’t know until mid January what the cashflow looks like. If he has enough cash and can wait to dilute then the stock may just trade sideways for awhile. Again, it will come down to when he dilutes and how much he dilutes. I don’t think shorting alone would push it down 90% and his suffering longs are probably not apt to sell now anyways…having lost the majority of their investments.
We shall see.
Depends on how fast he dilutes. It is also going to be very easy to short.
With the 1:100 it makes the last two splits a total of 1:900 and that is beyond NASDAQ’s limit over 2 years.
They will have to keep the price above $1 until August 2025 otherwise when it goes below $1 for 30 days it will go straight to delisting.
I certainly don’t think that will be possible given the amount of funding they will need in 2024. I would be surprised if it survived above $1 until the end of 2024.
Even by OTC standards a total split of 1 for 22,500 within 18 months is ridiculous.
And he basically admits that the dilution will continue in 2024. This could easily be down another 90% in the next year.
Just needs a new set of marks.