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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.
They are now officially delinquent…
I see the market is very excited about the Frankie Avalon announcement!!!
Oh…wait…
LMAO
“MULNCON: SEC FILES TODAY OR GOES OTC !! “
Actually that is not the case. They would remain on Nasdaq but be a delinquent filer. Eventually, if not corrected, it could result in a delisting but there is a process much like falling below the minimum bid price of $1.
They would be given time to fix it.
“I asked if, instead of 11 billion, we had 500mil, what would the stock be worth.“
To get there would take a 1 for 22 reverse split, so the price would be 22 times what it is now.
Correct…assuming they meet the deadline
Foote needs cash to keep the lights on. He has to dilute.
“Can I be respectfully left alone with my stupid thoughts?“
You understand don’t you that this is an internet stock chat board?
Looks like they just made bank…lol.
When are people going to clue in…this stock is toast.
I guess my saying do for over a decade hasn’t had much impact. LOL.
ummm…sure…
You have to ask?
You have 70 million shares of this POS?
Vegas must not be going well….
What are you taking about?
I haven’t told you how to do anything let alone trade. LMAO.
I don’t trade. I invest, and that does not include the OTC.
I don’t even get into trading discussions. That is a whole different ballgame. I discuss these stocks as investments and what the long term holds.
Traders don’t give a rats ass about that. And that’s fine.
MIKP is not an investment at all because of the dilution that will be coming….and of course Mark’s ability to screw stuff up…inevitably.
My opinions seem to have an uncanny ability to become fact.
Just sayin’
Just telling you what is going to happen.
Mark is going to have to dilute after the RS. That is why he is doing it. He needs the cash.
That dilution will cause the stock price to go down.
This isn’t complicated.
Maybe he will spend $2 million and get a couple more prototypes he can hype! LMAO.
“I seriously think people are misjudging how well this reorganization is going to be received by the market.“
The company has been in the “market” for well over 10 years.
I think the market has spoken!
A new name isn’t going to change very much.
But that is when the dilution will start in earnest….
They will keep rolling out those two prototypes for years. They will NEVER produce it.
There’s a recipe for business success…charge double what your competition is charging!
Why didn’t we all think of that?
“Brad is claiming that the Mullenz invoices to Randy Marion will remain unpaid until RMA actually sells the vehicles and collects the payments.“
Of course! But wait….didn’t they say all the RMA deliveries were pre-sold???? LOL
Mullen will go down as one of the most notorious stock scams ever. Perhaps even CMKX level stuff. LMAO.
“There is an extraordinarily ruthless possibility here, which would be diluting common equity in order to pay the newly created preferred equity“
It’s going to be a necessity. He has no source of cash other than selling equity. This is a short term approach that gets the balance sheet fixed to stay on Nasdaq. It’s loan shark terms disguised as a “capital raise”.
Ah…so there is no link…as Cal has conveniently removed them.
LMAO.
Streeterville will make bank.
1) They immediately make 30% out of the gate because the prefs they bought for $3 million have a set value of $3.9 million which is what collects interest.
2) The EFFECTIVE interest rate is 13% per year on that $3 million doubling to 26% at the end of year 2…to be paid quarterly.
3) They essentially own all of Verb in return…no matter what happens as the Pref C are senior to every other equity.
4) All it does is kick the van down the road while sucking cash.
The primary reason Rory did this was to get the shareholder equity jacked up to maintain its Nasdaq listing. But make no mistake he has diluted the common equity’s interest in the company with this.
LOLOL! I see what you did there.
“Naked short more…”
More????
There is no naked short on DPLS.
And I am willing to bet RMA are not required to cut a check to Mullen until a vehicle is actually sold to an end use customer.
Keep an eye off the revenue and changes in accounts receivable.
Michery is working straight out of the OTC playbook.
LMAO I had not even looked at the 3 year chart…and yes that looks like $330,000 per share split adjusted.
Like lemmings off a cliff….
“The FIVE RS is expected to be produced in late 2025, followed by customer sales in mid-2026.”
This is complete bullshit hype. The FIVE or FIVE RS will never see actual production. He could never raise enough money to do so.
He would need at least $1 Billion.
He had to sacrifice the share price to the tune of a 99.99% drop just to get $250 million.
Why people fall for this nonsense is beyond me.
It should have been a huge red flag to anyone that the amount of his “bonus” shares awards were to be calculated based on a PERCENT OF THE OS and not an absolute number of shares like normal companies.
He has always known what the dilution would do to the share price.
Link to one of the interviews with Brad?
The only thing I had heard from him is about the “interest” in testing the vehicle.
Over $120,000 per share (split adjusted) two years ago!
LMFAO