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LOL…when a stock has dropped over 99.9% I’d say the negativity is entirely warranted.
Only a moron would suggest otherwise.
I guess they think that if they say Tik Tok long enough all will be well. lol.
“Meanwhile, they should be delisted this coming week.“
They won’t be delisted in the coming week. The earliest it would happen, if Nasdaq doesn’t give them some more rope would be in about 40 days…perhaps 50 days.
But Nasdaq could give them additional time.
I think it is even odds that will happen.
Apparently I am the creator of one of the longest running and most pervasive BS conspiracy theories in pennyland.
Who knew?
How many “integrations” now?
How did Oracle go?
How did MS 365 go?
How did the NetSuite integration go?
lol.
Now Tik Tok.
Rory just doing Rory things.
Huh? LOL.
I went and checked if you were new to iHub.
But after 12 years here you really think I started it?
The “paid basher” theory always makes me crack up.
Yeah, I don’t know what their calculus was in doing only a 1:9. Did they want the ability to do another later that would blow past the 1:250 limit? Did they think the naked shorty lawsuit would propel them past a dollar? Did Michery realize he was going to have to dilute a lot more in the next two years and wanted to keep one last RS on the table? Did Nasdaq refuse to process an RS that brought the total past 1:250?
Who knows. It doesn’t make much sense.
The difference with IDEX was the recent 1:125 RS was their first one. They did not do any reverse splits during the grace periods. They waited until they were at the very end of their rope.
In the case of MULN, they have done two during the grace period totaling 1:225. Another one would put them over 1:250, so Nasdaq may not be as accommodating.
But I do agree with the notion the Nasdaq will usually work to keep a company listed (those listing fees are pretty big) within their rather generous rules.
Well I noticed they didn’t say anything about how big the sale was?
Which means it wasn’t very big.
And I noticed the market went *yawn.
Verb’s former CFO using this opportunity to sell I see. LMAO.
“There are no secrets to hide about how they build their products. Too simple.“
Unless there is literally “nothing”… to hide
They could easily demonstrate what you are saying with a time lapse. All we ever really get to see are essentially completed chassis being “worked” on.
They are doing little more than putting a cab on an assembled chassis, possibly reorienting the batteries, making some electrical connections and adding some Mullen logos.
Assembled?
LMAO.
This thing is playing around in the $0.045-$0.06 range pre-split. Anyone who has been in this for any amount of time is only seeing their loss go from 97% to 95%.
This is all about new traders, new fish.
In my view Nasdaq doesn’t have a lot of credibility when it comes to this stuff. As I said, they bend over backwards to keep a stock listed so they can get their Exchange.
Most companies that get delisted essentially resign themselves to that fate because they don’t want to pay the high 5 digit listing fees.
Michery has enough money, that won’t be an issue.
It would not shock me that his “plan” will be to do another RS…this time a massive one…and Nasdaq will be “OK”.
Maybe they will surprise me.
There isn’t actually a restriction. All that Nasdaq does is say if you do one or more reverse splits totally 1:250 or higher then if the share price goes below $1 the company is not eligible for a grace period.
So it begs the question, if they are sitting at 1:225 currently the next RS would put them over that. Does Nasdaq accept that? That is the question, because technically they will not have gone back below a $1 since they passed the 1:250 limit.
Frankly I don’t know. Nasdaq usually bends over backwards to help companies stay listed, although there would not be many arguments supporting doing so with MULN given the amount of dilution…which in my opinion would allow delisting alone under some of the discretionary criteria available to NASDAQ for the “protection” of investors.
LOL…my wares? I have been calling the POS stock ALL.THE.WAY.DOWN.
So no…I am not going anywhere. 😉
It always fascinated me how little some people know about short selling other that the penny stock conspiracy theories.
It all depends on what they pick for an RS amount. Anything they do will put them above the 1:250 Nasdaq limit…and that won’t help their case at the hearing. Neither will saying they will RS as their “plan”.
I think they are between a rock and a hard place.
Their best hope is to RS now as soon as possible and the go into the hearing with the price above $1.
I have seen this done. The Panel then puts them on close watch with a hair trigger if it goes below $1 again.
If they go into the hearing and it is not, they are going to have a hard time convincing them that they should be given an additional grace period to essentially RS the stock for a third time.
Michery has about a month to do it.
“Let’s stop all shorting of stocks.
That’s why our stock market is so screwed up!!!!!“
Shorting makes for an efficient market.
And if someone shorts the stock they are the definition of a “bear”. They believe the stock is over priced and will go down.
A long believes the opposite.
That is how the market works.
No. What I have seen is a company affect a reverse split after they got the staff determination letter but prior to the hearing…and then they allowed them to stay on Nasdaq. However that was their first RS. For whatever reason they didn’t do it during the two 180 day grace periods.
That actually had TWO 180 grace periods. 😉
Nonsense. Shorters have made bank on this stock. The current presplit equivalent price is $0.06. lol.
Besides the short interest has been steadily dropping as the pps has dropped.
Do you not get the fact that conversions dilute the stock in the market. It’s why the stock price is down 99.8% from its high.
The derivative liability is meaningless.
Trying to recover from the Fox Business Charles Payne DISASTER?
LMAO!
Pretty much…
This is how Fife rolls. He gets stock for cash…and makes sure it stays under 10% of the OS so he doesn’t have any selling restrictions…he files his 13-g and then…
when his algo/bot/HFT crew has done their thing with massive wash trades…
He sells….
He is going to make a lot of money on this one.
It’s John Fife, a penny toxic financier that Rory has turned to for cash.
I guarantee NONE of the stock he holds has come from purchases in the open market.
It should be a huge red flag….
https://www.sec.gov/litigation/litreleases/lr-24886
LOL…a lot of people are down 95+%
The last 300% jump on massive volume in one day…lasted precisely one day.
It all about playing the odds.
People tend to get greedy and think “it can always go higher”
…until it doesn’t.
The stock has done this exact same thing 2 or 3 times…and it has always come back down within a day or three…because they can’t just keep wash trading it.
Why not preserve some capital that was otherwise gone and then wait until it drops to double or triple your holding?
And then wait for the next one…whenever it happens….to actually get back to breakeven.
Preserving capital is never a bad thing…
This is simply not going to last.
It is going to be easily shorted as well at this level.
This type of opportunity won’t come along again anytime soon.
Even if someone wants to stay in VERB…why not sell and then buy 2-3x the amount of stock you have now when it inevitably comes back down.
Yes, have to strike while the iron is hot. No doubt this will come back down like it has always done in the past.
The algo/bot/hft action has driven the volume wild. I think this is the 3rd or 4th time we have seen this happen in the last couple of years.
Going to be interesting to see what happens when the music stops.
This “game changer” will go exactly the same route as all the previous “game changers”.
That is…nowhere.
“but it does impact the number of common shares issued.“
You have that backwards. Changes in derivative liabilities are a result of issuances.
When they sell a convertible Security they go up.
When that Security is converted into common shares it goes down.
“Hopefully by then, sp will be above $1 easily.”
Highly unlikely without a reverse split. They have thrown everything but the kitchen sink at it that last couple of weeks…and nothing has worked.
The Staff Determination Letter is only going to be yet another hit to the company.
Derivative liabilities are recognized when a convertible security is issued and reversed when it is converted.
The numbers are meaningless…whether it’s a “loss” on issuance or a “gain” on conversion.
Has zero impact on cash flow (positive or negative). It’s a paper loss or a paper gain.
“Why does it have to be either/or as opposed to both/and? Yes, shorting is legal but naked shorting is not; both have contributed to lowering the PPS to where multiple reverse/splits were needed to remain NASDAQ compliant“
Naked shorting is not illegal. Abusive naked shorting is.
Most, if not all, of the “naked shorting” of MULN was done by the financiers in advance of a dilutive issuance. That is not illegal and not “abusive”.
In fact, MULN’s Prospectus specifically allows it in the conversions/issuances and warns investors about it.
It was simply a way to get dilution into the market.
So the primary issue has only ever been dilution.
Besides, the changes in FTD’s (increases when they happened) were never significant enough relative to overall volume to be a meaningful component of the price drops.
That is a well written article.
The company saying the financing is not toxic is par for the course.