Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
They have 4 days to notify the market. He waited until the last minute.
So this isn’t over quite yet. Nasdaq may still yank them.
Well isn’t that interesting. Nasdaq processed the reverse split but still sent a delisting notice and the company still has to request a hearing.
So the possibility still exists that Nasdaq will delist regardless of the RS and share price.
Let’s see what they do…although I expect they will just say…oh you got back to compliance…carry on. The Nasdaq Capital Market has become a joke.
As long as Nasdaq keeps processing reverse splits…Michery will be able to sell shares.
There’s always a bid on Naz.
He doesn’t give a shit how low it goes.
I neglected to include something else they produce on a regular basis...
ALL TIME LOWS!
lmao
Sometimes they do create some volume which is what Esousa/Ault need.
I wonder how many more baggies got stuck in it this morning?
I have set up a business in the GCC and Abu Dhabi specifically. 90% of the opportunities are BS. Place is great for producing shiny bobbles to get all excited about but most fail. This looks exactly like that. They are not going to deliver, let alone sell, 3000 vehicles next year. He might be able to give away some of the bloated inventory he shipped over already there but its all hype at the moment... he simply pulled the 3000 number out of his ass,
Michery will just PR anything before market open to give some volume for Esousa/Ault to dump into...its pretty obvious that is when it is occurring most days.
Next PR will be what the team in Dubai had for breakfast 😂
Another meaningless PR. That's all this company produces, PR's and shares.
SEC asleep at the switch.
So you think HMBL can still RS?
Alrighty then…
Even if they did all it means is that Foote can continue to dilute even more…and $0.0001 is no longer the bottom.
LOL.
Not sure how you look at this.
Most would be happy to know they can’t RS.
Sorry, if you have a single share with a cost basis of $10,000 you have been wiped out.
Nasdaq is now a joke. The OTC has more investor protections than Nasdaq Capital Markets.
Then why did you respond? LOL. And responding to yourself when communicating with me is pretty weak assed. LOL.
You think I am not going to see it?
I realize what I say is uncomfortable for you…but that is because I only care about reality and facts.
Of course he withdrew the application. FINRA wouldn’t process it. They DON’T sit on those for 3 months.
Why do you fall for this nonsense from Foote?
And yes…engaging with me can be frustrating because reality can be a buzz kill.
Simple. They filed a Dec14c for an RS on 11/15/22. Nothing happened. FINRA processes them normally within 20 days at most.
In Feb/23 they announced they cancelled the RS.
Which ONLY means FINRA would not process it as whatever questions they had Foote could not satisfactorily answer.
There will be no RS…and as long as Foote needs cash this will end up at no bid.
I consider those with a single share at a cost basis >$1000 have been wiped out.
There are probably many with a cost basis for their share of >$10,000 and even $100,000.
At first I thought this was a joke...
LOL...because, yes, it is that stupid.
I am not sure Rory fully appreciates the SEC mess he will get himself into.
There would not be many shareholders.
ANYONE who has been in the stock for any length of time has been wiped out.
Or more to the point, pretty much EVERY MULN SHARE that has EVER been traded is currently underwater.
Even flippers have been handed their ass.
I don't think FINRA is going to process shit.
This is dead.
There will be no RS. FINRA has already shown it will not process one. This can only end as no bid.
Still quint zeros I see. Situation normal.
Carry on.
So he bought Optilan twice now?
Haven't been following for awhile but that seems kinda stupid
Nigeria? LMAO!!!
Is that like the call from the Nigerian prince that needs to move money to the US????
Too funny...
This is worth the read.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175099119
And Nasdaq is an accomplice in this….
But they won’t. MULN has provided a roadmap to game the system. Get the RS done before the 30 days is up and all is well….even if it raises the cumulative within two years to 1:2,250,000.
Ridiculous.
Excellent article by Brenda as usual. Nasdaq had many tools at its disposal to reject the latest reverse split.
They chose not to.
This makes them a joke. If I was a serious company on Nasdaq I would be raising holy hell with them.
The capital market is going to become another version of the OTC…if they haven’t already.
How does the Nasdaq appeals board do this shit with a straight face?
1 for 2,250,000….
A complete disgrace.
Obviously?
And you believe a serial liar?
Yes a lot of junk on CM.
Nasdaq has a “CE” category?
Well they have PR’d the reverse split. 100:1 on Sept 17.
I guess it will be filed after hours.
Nasdaq is a joke.
Their proposed changes to make it easier to kick a penny stock off the Exchange are a joke if they aren’t even willing to utilize the tools they have now.
“however, pursuant to the terms of the Company’s 2022 Equity Incentive Plan, as amended, the number of shares then reserved for issuance under such plan will not be adjusted based upon the Reverse Stock Split ratio”
LMAO
Looks like Nasdaq is going to process a 100:1 RS next week that brings the total RS amount in the last 18 months to 2,250,000:1.
Nasdaq is making a mockery of itself.
How exactly does a naked short vote? LOL.
Michery counts on most stockholders not voting.
They have to file an 8K today with the results of the Shareholder vote.
My bet right now is they submitted the split request to Nasdaq on Monday of this week and Nasdaq called a timeout or refused to process....which is why we have not seen any market notification of the split.
If that's the case, next week will be very interesting. They will get a delisting notification on Monday or Tuesday and have to disclose that publicly within 4 days. In that disclosure they will also have to describe what they are doing or what is going on. They will of course ask for a hearing.
Could this be the start of the end?
Stay tuned.
We know it was approved in the shareholder vote…we don’t know if Nasdaq is processing it or not.
Most of the shorts in this stock are the financiers who cover with an issuance from Mullen and NOT from the open market. Its a threshold security so a good chunk of that is probably naked shorts by the financiers. All OK (because Michery specifically allowed this in the SPA) and they have 35 days to eliminate the naked short with the issuance.
I think Nas needs to see that😉
They have the power right now around the issue of dilution.
If MULN gets kicked down to the OTC...its game over for Michery. He will never be able to raise the money needed to support his spend and capital requirements.
They will not be operationally cashflow positive until they have revenue of $1 BILLION per year at their current overhead spend...and they will never sell more than maybe a few million with a max possible of say $100 million in a year under the most optimistic assumption.
It is destined to fail as a business. Only question is when and how.
Where did this come from? Was it something sent to Nasdaq? SEC? Finra?
Interesting!
One possibility driving this could be some knowledge that the RS isn’t going to happen for some reason. Some folks get excited about that…not understanding the more serious longer term implications.
Or perhaps they know it’s heading back to the OTC where it can more easily be pumped.
Always interesting.
They can’t do an RS this week…which was the whole purpose of moving the meeting date back to Monday. They had to notify Nasdaq by noon this past Monday and the market by noon yesterday in order to affect the RS for Friday’s open and beat the 30 day clock.
They can’t now. So next week they will get a delisting notice…they will ask for a hearing, and then it will be up to Nasdaq to decide.
I am beginning to think that Nasdaq threw a money wrench in the works earlier this week. Have they refused to process the RS? Did they delay things?
Who knows…but something is amiss. If they get knocked down to the OTC there is no way they can raise the $16 million a month they need to feed the cash eating monster they created.
Is that why the dilution is in overload right now?