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Maybe this supplement to the perspectus will clear up the confusion. Essentially, Mullen already got paid for the shares. The supplement talks about where most of the shares came from and who is selling what.
https://ih.advfn.com/stock-market/NASDAQ/mullen-automotive-MULN/stock-news/90270101/prospectus-filed-pursuant-to-rule-424b4-424b4
I notice Robert Bollinger is selling his 51M shares.
$MULN
Stockforce, thank you. These gems you keep finding and sharing are priceless!
$RXMD
Yes necessarily. They own the same kind of investment we all do, common stock. And they are probably slightly in the red at this SP. They also have incentives to get the market cap up.
My bet is that they will not want to leave money on the table. I also think they had a plan, maybe a bit vague, when they initially got into this. We just don't know what it is. I have my thoughts but it's all speculation.
$RXMD
I'm also pretty much all-in on the stocks I own. This one is a big percentage of my portfolio.
$RXMD
Life savings? Fernandez and Baretto are billionaires. They expect to make money on their investment. IMO they lessen their ability to make a profit if they combine the two companies.
What I think will happen is one or two acquisitions that spike the value of $RXMD. They now have plenty of high-value shares available to buy those acquisitions with, plus some cash if needed. JMO
$RXMD
While I respect your thoughts on the matter, I don't think that merger will happen. Why? Because it would not enhance the chances of making a profit for the Big Boys.
$RXMD
Inflation touches everything so, yes, I expect the numbers to go up but I don't expect any real progress without an acquisition.
$RXMD
You are correct. At the end of the day we own a portion of a stable (but stagnant) company with audited fins and gross revenues of around $40M. There is basic value in the pile of shares you own.
$RXMD
If one reviews the AM General campus in Mishawaka on Google Maps you will find that Mullen owns a portion of it. Don't know how much. There are pictures of the inside of the plant and it is not empty. The production line is there and ready, in the picture background.
$MULN
No I haven't. Please provide a link. THX
The other possibility is a sale to someone else. The RS created a very clean share structure for someone interested in buying $RXMD, especially a private company who could then RM onto the OTC.
Old? We are past ancient. More like pre-historic. I understand the SEC required quiet period, but they either need to uplist or withdraw the S-1 NOW. Pure crap!
$RXMD
Correct.
$RXMD
Because of the way ETrade posts things, I'm pretty sure those were not public trades.
$RXMD
ETrade has the ticker changed and a volume of 30 shares but no open. That means the 30 shares is a bookkeeping correction by one of the MMs. So it is not trading today.
With it not trading could this mean our long-awaited move to NASDAQ?
$RXMD
No. Bollinger does not have manufacturing capability beyond prototypes. Bollinger vehicles will be initially built in the Mishawaka plant, as will the first vans. That plant has not yet started to produce. It is equipped and tooled to produce Class 1 vans, so will start there. We have been told production will start in Q1. Time will tell.
$MULN
That is the part I don't understand. THEY are pre-split shareholders. Most of what they own personally is common stock. They got into this to make money, so why are they treating themselves like dirt?
$RXMDD
So my vision of him wading around in a giant bowl of red jello is wrong? Poo....
$RXMDD
This post I agree with. Very well stated. I know you are negative on this ticker, and you have valid reasons. I am, at this juncture, more bullish. Time will tell.
$RXMDD
Yes it will unfold, and I think it will be soon.
$RXMDD
Sorry but that does not make sense. If the plan all along was to merge, an RS would not be needed. The surviving entity would be NXPL, with them "buying" all of RXMD's shares. Total cost would be the same whether there was an RS or not, so why bother.
I think the plan is for Progressive Care to move to NASDAQ and then either make a major acquisition or be sold to someone other than NXPL. In either case making the moves that they have with the SS makes sense.
$RXMDD
I would, in fact, expect that. At some point they will each RM with a private company.
$BLUU
Love your car. An M roadster in black with red interior is just too cool. THX for the pic.
$RXMDD
I hope you are right. I really want to see all Three Amigos move off EM.
$BLUU
Agreed IF they uplist right away (which they might).
$RXMDD
Custodian Ventures is only the Registered Agent for TGRR in Colorado. If you check the filings at the CO SOS you will find that the officers of the company are not associated with Custodian Ventures.
$BLUU
No plan will be revealed next week. They are still in an SEC-required quiet period. If they uplist then that quiet period ends and a new one, lasting 40 days, begins. THEN they can talk about the company's future. The only way they can end the current quiet period and talk is to withdraw the S-1. Not likely.
$RXMDD
Current CEO is Huijin He, based in City of Industry, CA. Per NV SOS filings.
$BLUU
Lane, I'm not doubting you, but what information makes you think Lazar has taken over TGRR (and/or BLUU)? TIA
$BLUU
Sorry, don't agree. Tactical Rabbit is garbage. Do your own DD.
Mullen would not have bought a turn-key factory valued at $1.4 B if it were a scam. It still may fail, however.
$MULN
That would not surprise me as NASDAQ does not typically allow that setup. One of the other companies I own had to get rid of theirs to be considered for NASDAQ.
$MULN
$RXMD
If you read the contract, which was attached as an exhibit to one of the filings, the binding portion was that DPL had to evaluate the sample van. IF they liked them then they could enter a purchase order. Looks like they didn't like them. Simple as that.
$MULN
Many of the home-built electric cars had this problem, so a heating pad under the batteries was added to solve the problem. It's powered by the charging system. Apparently, Tesla does not have that feature.
$MULN
Me too!!
$RXMD
Supplying parts is a very tough, competitive business. Margins are razor thin. Our sales guys used to say that competing for a contract was like jumping out of an airplane without a parachute. The winner was the guy who survived the bounce.
$MULN
While I agree with you, we will still see those guys taking every kind of financing they can think of to pull in more cash. Building vehicles is extremely expensive. They still have the entire Tunica plant to build out and tool for production for around a billion dollars or so.
They'll start production in Mishawaka but will quickly outgrow that facility. The capacity is only 50,000 vehicles per year. When they actually start producing vehicles they will get flooded with orders. There is a lot of pent-up demand out there and they want to build 7 or 8 different vehicles.
$MULN
Getting milled parts is simple. I can think of three companies off the top of my head that literally have a room full of 3D machining centers who would love to make those parts for them.
Most automotive companies don't make the parts themselves. They buy them from suppliers like the companies I worked for, then assemble the vehicles.
$MULN
I lived near there for 15 years and went past the plant many times. Nicehit is 100% spot on. They have produced several different vehicles over the years and should be ready to produce vans with the addition of people and parts.
$MULN
There is a little more to going from one vehicle to another but not much. The big issue is getting the right component part to the right spot in the line at the right moment. Doing that without mistakes is challenging, but it can be done. Cummins does it on a daily basis.
$MULN