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It wouldn’t be the first time I have pointed out an issue/mistake that had to be and was subsequently fixed….LOL.
And I am usually not the only one pointing it out.
Call me whatever you want. 😉
After a reverse split this could easily go below $0.0001…it is no longer any type of floor.
This is how Mark has always operated.
Those, like me, who have always been critical of him never believed he would change.
And this last two days is yet another example.
And he still needs to correct the 14c to state the correct post split OS level. The number he has in there now reflects a 1 for 500 split.
One person that was here did that the last 3 years and lost a good chunk of their life savings in the process…
That is actually how a reverse split works. The shares under the old Cusip number are exchanged for new shares with a new Cusip.
In this case the ratio in the exchange is 50 for 1
LOL…sorry….unfortunately it can be hard to separate sarcasm from the sincerity of the tinfoil hat crowd…
1:50 is a small RS? LMAO?
BTW Mark needs to correct a discrepancy.
“The authorized capital stock of the Company currently consists of 2,249,000,000 shares of common stock and with 2,382,642,,000 shares outstanding, each with a par value of $0.001 and 100,000,000 shares of preferred stock with 2,415,142 shares of Sereis A Preferred Stock issued and outstanding, each with a par value of $0.001 per share. Upon effectiveness of the Reorganization, we will have 500,000,000 shares of common stock authorized, each with a par value of $0.0001 and approximately 4,454,000 shares of common stock outstanding. The number of shares of preferred stock we are authorized to issue will be 5,000,000 shares and each share of preferred stock will become on share of a similar preferred stock of DelCo. Each share of common stock outstanding immediately prior to the Reorganization automatically will be converted into one fiftieth (0.02) of a share of common stock of DelCo. These changes will occur without any action required on the part of any shareholder.“
So is the RS actually 1:500? Or is the resulting OS 44,540,000 and not 4,454,000?
Yet another Newbauer screwup.
You don’t have to believe anything but it is what the filing says:
The authorized capital stock of the Company currently consists of 2,249,000,000 shares of common stock and with 2,382,642,,000 shares outstanding, each with a par value of $0.001 and 100,000,000 shares of preferred stock with 2,415,142 shares of Sereis A Preferred Stock issued and outstanding, each with a par value of $0.001 per share. Upon effectiveness of the Reorganization, we will have 500,000,000 shares of common stock authorized, each with a par value of $0.0001 and approximately 4,454,000 shares of common stock outstanding. The number of shares of preferred stock we are authorized to issue will be 5,000,000 shares and each share of preferred stock will become on share of a similar preferred stock of DelCo. Each share of common stock outstanding immediately prior to the Reorganization automatically will be converted into one fiftieth (0.02) of a share of common stock of DelCo. These changes will occur without any action required on the part of any shareholder.
Nothing has been done yet as far as I know other than the shareholder vote and the setup of the Delco merger entity.
So the new company will have an A/S of 500,000,000 shares with an OS of 48,000,000.
That is a lot of room for dilution.
People have to pay Delaware to get any information…what is available on the web is pretty little.
Mark is doing this so he can dilute the stock. Doesn’t sound like he is going to split the A/S as well after having it raised to 5 Billion. So he will end up with 4.95 BILLION shares of room to dilute into.
Just as I predicted…
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171302661
He will likely have to do a massive reverse split in order to get the share price to the point where he can get some money he would need to develop his “IP”.
Yes…but…the FIVE is not a Chinese produced vehicle in kit form. MULN paid a couple of million a few years ago to have a company produce a couple of prototypes that they have used to pump the stock.
They would have to invest $1 billion to bring something like that into actual large scale production.
So it will forever more just be vaporware…while they rebrand and sell Chinese vehicles.
No video at speed? lol.
Doesn’t matter anyways they will never actually get the FIVE into production. It would take $1 Billion to do so.
I didn’t say Nasdaq works against companies (quite the opposite actually) and MULN may very well get an extension to do another RS…but the IDEX case was different because they had not done an RS during the grace periods. MULN did two to bump right up against the 1:250 “limit” that Nasdaq has.
I wonder how dizzy Dennis got from all the spinning in that shareholder letter?? LMAO.
If they try using the nonsense they put in the lawsuit to somehow justify the Reverse Splits, Nasdaq will laugh them out of the room.
As in…it could possibly make things worse by treating the Nasdaq Hearing Board like some group of gullible penny stock players.
The speed showing is kph…not mph.
Even the visual speed that car is doing around 100 mph at that point and not 160 mph.
The breaking required to enter that corner if it was coming in at 160 mph (and not kph) would be F1 level stuff.
I bet he left out the units in the Twitter post so guys like you would assume mph and post such!
LMAO. Mission accomplished.
They did it with IDEX because IDEX had not done any reverse split during the two grace periods…so they worked with them when IDEX presented that as their plan at the hearing.
The problem that MULN has is they have already done two reverse splits during the grace periods totaling 1:225 and the stock is back below $1 despite that.
I suspect Nasdaq will be a little less forgiving.
….it will be interesting to see.
Some “historical” data gets adjusted, others does not. For example I rarely see adjust “short interest” data…if ever. In this case I went and looked at the percentage of off exchange for June 23 and it said 65%…which triggered the thought and then when I took the data and made the adjustment…presto…65%.
I just figure out the difference. The daily trading volume of 16 million is split adjusted, the off exchange of 94 million is not.
The split adjusted off exchange volume for June 23 is 10.4 million or about 65% of the trading volume.
Dark pool trades are recorded to the consolidated tape.
https://en.m.wikipedia.org/wiki/Dark_pool#:~:text=Dark%20liquidity%20pools%20avoid%20this,over%2Dthe%2Dcounter%20transactions.
Dark pools are recorded to the national consolidated tape.
Ok…I now see what you are looking at. That number is essentially meaningless…and is skewed by the one day of 3 million shares added on 8/22 that were delivered two days later eliminating most of the FTD’s
Why don’t your read note 8 at the bottom and get back to me. Sheesh.
That was the average balance which tells us nothing.
The total number of FTDs that existed on MULN on 9/14 was 34,441 shares.
That isn't very much.
Those numbers are the balance each day… NOT how many FTD’s were generated each day.
When the number goes up from one day to the next, the difference is how many new NET FTD’s were generated, when the number goes down it is the amount of NET deliveries that were made reducing the “balance”.
For example the data on 8-23 shows a reduction in the FTDs of about 124,000 shares from 8-22….NOT an increase of 3 million new FTDs.
Understand the data can help avoid erroneous interpretations.
whatever you say skippy…lmao.
Sounds to me like you don’t understand how and when short interest is reported by FINRA.
Short squeeze? LMAO!! There are 124 shares of short interest.
Lol…what are you, a 5 year old?
It was actually 140% of the OS…and everyone could see it.
Anyone short got roasted on that squeeze.
Mullen’s is less than 15%.
There is no squeeze coming.
My recollection is they went and searched out companies that had huge short interest as a percent of the OS, where threshold securities and days to cover that was really high like over 10.
At one point GME had short interest of 140% of OS which means upwards of 40% of naked shorts as % of OS and days to cover that were over 10.
They then started buying to push the stock price up…and that started to force buyins which was like pouring gasoline on the fire and it was squeeze city.
There simply isn’t enough short interest on MULN to trigger anything no matter how much buying.
What lit the fuse was huge buying volume from the Reddit/Robinhood/meme action…and that triggered buyins which set it off.
The reason it became a target was because the metrics I was mentioning were off the chart for some time making it a target.
Lol…I see you have gone full tinfoil hat on the pennystock conspiracy theories.
And no I am not a god…
But I know how this stuff actually works.
Yeah….and the Sun could go super nova tomorrow as well. LOL.
If someone wants to make a bet and buy because they think a squeeze is coming…the chances of that are probably…
Squeezes don’t just come out of nowhere. There are plenty of warning signs before they happen. And even when those warning signs are all flashing red it is still rare that the stock actually squeezes.
There are ZERO warning signs the MULN is at risk of a squeeze.
What would make it squeeze?
The short interest is less than 15% of the OS.
The FTDs are insignificant
The Days to Cover is less than 1.
There is nothing to suggest that a short squeeze is even remotely possible.
I like it because it is easy to search old posts and the rules now allow those words to be thrown back at someone.
Worth every dime.
And I expect they will ask for a dismissal or summary judgment because it is a lot of nonsense.
You were asking why that hasn’t happened already.
I was giving you an answer to that question.
It would come as either part of their response or thereafter.
It would not happen prior to that.