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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.
Even I didn’t think they would go for the full 1-100. LOL.
I wonder how much was via conversion and how much was cash….? I noticed he didn’t disclose that
He is going to have to reveal the OS in the vote reporting. I wonder why it is now?
This is old news. And when you dilute WHILE you buyback it kinda defeats the purpose.
We just did….LOL
Buy everything you can…and thank me later.
The stock will become flippable due to increased volatility and decreased liquidity.
But most of the “institutional” holders will have to sell.
The OTC means the eventual doom of MULN and Michery knows that which is why he is trying so hard to get this RS through.
“As of today it amounts to zero common shares. They can't convert today“
Are you that obtuse that you did not understand what he was saying?
“Did I miss anything?“
Yes proposal #2 in the proxy. They can adjourn to extend the vote…which they did.
Michery needs the RS…Mullen will not survive on the OTC…he needs too much money to get anywhere close to cashflow positive.
And they won’t get it while on the OTC.
Make it 100,000!!
What could possibly go wrong?
If they voted to adjourn the meeting I wouldn’t count the chickens just yet….
If they stay below $0.10 and don’t do an RS…next stop…OTC.
I guess Nasdaq listing will go bye-bye….
…and then some.
“He borrows money at a certain interest rate and make money on that investment the bankers all line up to make the big deal that“
You obviously have no clue as to how Buffett invests. Do you just make this shit up as you go?
Buffett is very well known for not borrowing to invest in stocks.
https://www.fool.com/investing/2022/09/29/warren-buffett-doesnt-borrow-money-to-buy-stocks-a/
“Buffet is a very sophisticated banker…”
Banker? WTF are you taking about?
His is probably one of the most successful INVESTORS in the history of investing.
WTF r u taking about?
I am in agreement with Buffett/Munger, I wouldn’t buy it, short it or anything else.
“Every day since Gensler has been in charge of the SEC is a dud day for the OTC and furthermore the same thing for the Crypto market too“
That tells me he is doing his job.
You understand don’t you that a private entity/company suing somebody for a Securities law violation is not “seeking federal charges”.
Obviously whoever came up with that title has no clue.
Only a Regulator/DOJ can bring “charges”.
The stupid is strong here.
I think my wife had that one covered awhile back
I guess the sp is a touchy subject…lol.
It’s a trip zero stock.
It’s done.
I see the dilution hit the market all day long.