I wonder how long their agreement with Dynamic gave them to get funding before the rights reverted back to Dynamic? It will be 3 years they have had the rights in a couple of months.

I don’t recall how long they had Skin Trade before they gave it away.

I think Susa finally gave up. Perhaps there was a family intervention. I think she lost north of $200K.

"Vampirella alone could be worth a $billion."

Why not a $100 Trillion????

its about the same probability

smh....

Well then your word(s) were not exactly clear. Seemed like you were suggesting that a bigger battery was the "science".

When one talks about battery science...it usually means the things I listed....but you obviously weren't referring to those

Just a bigger battery.

Putting in a bigger heavier battery is not the “science”. LOL.

Is there an improvement in the energy density? The battery efficiency? Its lifespan? Recharge rates?

None of which we heard about.

Funny how Michery makes it sound like something more that just a bigger battery…LOL.

But that is his MO.

So it’s just a bigger battery. Unless we know the actual dimensions and weight of the two.

They probably just found a way to stuff a bigger battery into the existing chassis.

I posted it.

I found the article the other poster was referring to. It was likely Mullen Class 1 as the test vehicle and claimed that a 72 kWh battery pack achieved 190 miles. That is 0.38 kWh per mile.

https://www.prnewswire.com/news-releases/a-new-ev-battery-with-73-greater-range-302035019.html

Not sure what the 73% increase was over…but 0.38 kWh is pretty much the industry average right now for EV vehicles in the 4000-5000 lb range.

For comparison Tesla Model 3’s are better than 0.25 KWh per mile at 3800-4000 lbs.

Which again just demonstrates Michery deception by cherry picking numbers.

Doesn’t give very much info about exactly what the increase is in terms of the stats of the current battery.

Energy density?
Size?
Weight?
Lifespan?

It is almost impossible to judge that “73%” in any meaningful way without knowing the details.

Which Michery won’t provide of course.

Do you have a link to the article? I want to see if there is enough information to actually judge their claim. 73% increase over what exactly?

Link? I must have missed it. But then Michery has claimed a lot.

If it was, Michery would have PR’d that the moment he learned of it.

It’s not. RMA was originally the dealer for ELMS, long before Michery came along. When MULN bought the ELMS assets, Michery got RMA back on board. The question is what are they getting in return? Those vehicles are going to take up real estate and that costs money. It will be buried in the financials somewhere.

It will be interesting to see the table in the next Q that they included in the K. How many vehicles delivered, how much “invoiced”, how much “revenue” and how much “paid”? RMA are certainly in on the deception.

Those things are not selling as fast (or at all) as he is making it out to be.

I see they are still pumping “invoiced” amounts…which means nothing.

I wonder how much RMA is charging MULN to store the cars? lol.

It amazing how some people post things on topics they know little about.

I doubt the FINRA “rule” will be provided

Don’t forget the dilution in the “days ahead”.

That’s what they did with the meeting for the RS. They didn’t have enough votes so they postponed and magically got enough votes.

The only thing we know for certain is if they go below a $1 for 30 consecutive trading days in 2024 they will likely get delisted as they will not be eligible for any grace period.

What is not clear is what happens if they RS BEFORE they go below $1. Will Nasdaq refuse to process it?

There was nothing in “terms” of the hearing that addressed that situation.

Reverse splits…generally…do not work for existing shareholders in any way.

It’s almost like a reset that wipes away the existing shareholders.

And when it so done to the level that MULN has done it…the only entities it serves are the toxic financiers that need the higher share price to facilitate dumping into the market.

MULN will absolutely need another RS in 2024.

A year from now the pps will be down 90% from where it is now…AT LEAST.

I don’t think that was ever really in doubt. But here’s the thing…if it goes below $1 for 30 trading days in the next year and a half MULN will go straight to delisting. No more grace periods.

Which means…Michery will have to RS YET AGAIN before it does. At some point Nasdaq will give MULN a time out. 2024 will see the end of Mullen as we know it.

…oh…and GO FM 107.1 Q107!!!!! 😉

It amazes me that anyone on the planet Earth would buy this. It will go down another 90% this year. Too much dilution coming.

Michery will have to raise another $150 million this year MINIMUM.

That means a 90% drop MINIMUM…likely more.

And this post will age VERY well.

LOL…I was just curious if there were still true believers around still popping the hopium pills.

So I paid a visit.

And unsurprisingly there are.

I’ll be back in another year.

And that has absolutely zero to do with, or impact on, the legacy stockholders of BIOAQ.

…you do understand right?

I am seeing rumors that the financing agreement didn’t close…

…might explain some of this afternoon’s action.

Stick around…given the amount of money, physical assets, and employees involved…this could be an epic meltdown.

If Michery runs out of access to SIGNIFICANT amounts of cash this thing will implode in spectacular fashion.

Another tidbit….on Dec 28 they announced a lawsuit against GEM Group (an early financier) for the usual “acting as a broker without actually being a broker” stuff that Basile is known for.

GEM had actually forced them into mediation for a claim GEM made awhile back and the mediator has forced MULN to put up $7 million at the request of GEM. Needless to say that suit is not going well for MULN as GEM has requested that reserve amount go up to $29 million because of the shaky finances of MULN.

Mullen’s suit looks like a reaction to all that in order to force a more favorable settlement.

Here’s the thing. MULN is requesting a jury trial…and the financing agreement with GEM specifically and clearly said that no matter what, both parties were not allowed to demand a jury trial.

If the mediator accepts GEM’s request to up the protected reserve to $29 million…Michery can’t touch it.

You realize don’t you that is from almost 9 years ago well before the bankruptcy….?!

LOL.

I would think that termination is a material event and would require an 8K.

If it was terminated they have not disclosed it.

And I still wonder why Michery would go for such a loan with an APR of 225%. While they will need cash in 2024 they don’t need it so bad right now as to need such a loan.

I wonder who all would get a cut of the $18 million vig.

We now know from the 10K that if the RMA lead sales guy said all the deliveries were “pre-sold”. He was flat out lying.

So I guess they are in on the scam.

Yeah I saw the subsequent event notes. I think the loan matures 90 days from when it closes…whenever that is. The end of March was based on it closing January 1.

Right now I am taking a closer look at the revenue, change in AR and the reserves they have set up for the fact the vehicles can be returned at one year from RMA for a full refund.

Something doesn’t make sense with the AR for 2023. But one thing is confirmed and that is they are not claiming revenue for ANY vehicle that they have shipped to RMA that wasn’t sold to an end customer. That is why Michery only refers to “invoiced” amounts in his pumps.

Michery is going to have to raise another $150 million at the very least in 2024.

With the market cap hovering around $70 million at times there is only one way the stock price can go this year with that dilution and it is down.

Another 90% drop is likely from the dilution alone.

If he runs out of sources of cash, this thing will implode quickly.

“Do the two statements below indicate that the loan is due 90 days after origination? Forgetting about the stated interest rate, the lender is getting paid back $ 50 million only 90 days after loaning the company $ 32 million ??? “

All correct. I don’t think loan sharks are even that bad. It is an effective APR of 225%.

Thanks, I missed that in the subsequent events. I believe the closing date was the later of Jan 1 OR when the documents were signed.

It’s a terrible loan. Shareholders should hope he finds a way to avoid it.

The earliest the loan would have been received is January 1, 2024 so it would not be reflected in the 10K, nor will it be in the 10Q for Sept -Dec which will be filed in about a month.

“They're incinerating approx $83 MILLION PER MONTH ($1 billion annually approx !) and got absolutely nothing of actual "value" to show for it !!! “

Actually the “billion dollar loss” is only on paper as half that is due to the derivative liability they had to book for the convertible debt/securities. When those get converted to commons the associated derivative liability gets reversed. So I don’t pay a lot of attention to that.

In the 4th Q they are burning through about $22 million a month.

That is 7 months worth, and they are already another 3 months into that.

More dilution on the way!!!!!

A $377 million operational loss….

Oh my….

And it’s odd they would put out a PR about 2023 financials with some very selective data without having actually filed the 10K…and say nothing about when it is coming.

They changed from Daszkal to RBSM back in March 2023 and Mullen’s Chief Accounting Officer resigned shortly thereafter.

https://www.otcmarkets.com/filing/html?id=16463431&guid=n6J-kK1wYuq7B3h

https://www.otcmarkets.com/filing/html?id=16482659&guid=n6J-kK1wYuq7B3h

This would be the first audit since then.

The key things to look at are the revenues and changes in Accounts Receivable, and also whether there is any contra asset, impairment or reserve against those “invoices”.

It will be interesting to see if they have actually been paid for ANY of the $308,000 in revenue they booked between Apr-Jun.