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.
Designed with partners. The few prototypes they have were custom built for them. It is still unclear where they will be manufactured, Tunica or Mishawaka. But, they are not yet ready to manufacture the Mullen 5. A new design like that takes a while to tool up the components.
$MULN
Currently, Saving Grace is correct. Tunica is not fully tooled yet. The vans they have had up to now came from China. BUT the plant in Mishawaka is fully tooled for class 1 vans which will launch in Q1 per their PR.
$MULN
What you have stated is inaccurate. The binding portion of the agreement was for Delpack to evaluate the Chinese vans. IF they liked them they were to enter a purchase order. Didn't happen. What was stated in the PR was right out of the contract (as shown as one of the exhibits in the 8k). BS? Maybe.
$MULN
The turn-key plant is in Mishawaka, IN not Detroit. FYI They do have a facility in Detroit but it is Commercial Vehicle Engineering, not mfg.
$MULN
You are correct. I researched it at the time of the announcement and came to the same conclusion. They were small at the time and it didn't look to me like they were going to survive. While they may have had big dreams, buying more than one or two vans was unlikely.
$MULN
I've been here since Net Element. And yes, I took a deep dive into looking at Heights Dispensary. That one was vaporware.
I'm also familiar with the plant in Mishawaka and the vehicles it has produced. I lived in the area for 15 years and went by the plant many times. That one is the real deal.
I'm a retired Engineer with more than 40 years experience in the automotive supply business.
$MULN
I disagree, sir. I think their class1 van is very close and will start production in Q1, as they stated in their PR.
$MULN
What I see as the biggest value Bollinger brings to the table are high quality designs backed by working proof-of-concept prototypes. Their class 3 and 4 cab/chassis looks ready for production.
Also, their collaboration with Wabash National on refrigerated trucks could be huge. WN is one of the largest transportation equipment suppliers in the industry.
$MULN
Net assets are only a very small portion of the value proposition for Bollinger IMO.
$MULN
My point exactly. Bollinger has the product designs, with working prototypes, and Mullen has the manufacturing ability. Both have valid contacts for these products.
$MULN
I have done that. What you are missing is what can be made from these component parts. I agree that on the surface Bollinger does not look like a good purchase but combined with the manufacturing expertise that Mullen has amassed, this could become a powerhouse. Will it? Time will tell.
$MULN
You apparently missed the news that they closed on the plant in Mishawaka. That facility is fully tooled and close to ready to produce class 1 vans. It is complete and has produced vehicles in the past. A recent PR stated that Mullen will produce class 1 vans in the first quarter, and that is possible.
$MULN
Those assets are estimated to be worth $1.4B.
$MULN
Don't do that! I laughed so hard I almost up-chucked my breakfast!
$RXMD
No, its fact. Do the research.
$MULN
Yes Sir, you've got it. I do think something, maybe not the full monte, will happen before late February, when their authorization for a RS expires. Time will tell..
$RXMD
Remember that the wealthy you talk about own common shares, same as us. For them to make a profit common SP must go up. We will go along for the ride. I don't know how or when but it WILL go up. These guys did not invest millions to see their money stagnate.
$RXMD
There is no reason to have $18M cash in hand except if you plan to use it to buy something. Money in and of itself is worthless. What you use it for is what counts. In the next few months I think we are going to see some significant changes.
$RXMD
I think you are correct Gedi. Also, our chairman and vice-chairman hold "vouchers" for several million unissued shares plus contracts whereby they can buy even more if they hit certain milestones.
Then there is also the debt they purchased from Illiad. That is also redeemable in shares at any time.
$RXMD
BB has been told multiple times that the analyst prediction he keeps referring to expired last June, unfulfilled.
I would love to see this go up a bunch, but facts are facts.
$MULN
Sorry guys, this has nothing to do with Lazar. Custodian Ventures LLC is the registered agent, not the controlling party. See this link.
https://www.sos.state.co.us/biz/BusinessEntityDetail.do?quitButtonDestination=BusinessEntityResults&nameTyp=ENT&masterFileId=20131380036&entityId2=20131380036&fileId=20161715411&srchTyp=ENTITY
David He is the controlling party.
$TGRR
Net Element bounced around in the $10-$18 range for quite a while. When Mullen merged into Net Element in November 2021 the SP stayed in that range for a short time, then faded away to where we are now, mainly due to dilution and no revenue.
$MULN
No there is not. The only positive is that this is Mr. Ellenhoff's specialty.
$RXMD
I've continued following it. Shareholders will receive 17.5 million shares currently valued at approximately $175M for their shrimp shares. The SPAC plans to buy more than one company so the shrimp company will be a wholly owned subsidiary.
If we got that kind of deal we would be getting around $0.29 per share. I could live with that.
$RXMD
Garbage.
I'm not sure on units versus shares but typically it starts at $10.00 per, as you said. I still have more research to do.
$RXMD
You misunderstand how SPACs work. A Special Purpose Acquisition Corporation raises money and BUYS a business.
If they go the SPAC route they will sell shares with the money going into an escrow account. When there is enough they would buy RXMD. I assume a tender offer. Once buying is completed an RM would occur. The new share structure would be that of the SPAC with the old RXMD shares being retired to the treasury. If you owned SPAC shares you would own a part of the new RXMD.
$RXMD
People do not realize what a coup Mullen pulled off by buying the factory in IN. For less than $100 million they have a fully functioning factory plus enough money to refit it to make any vehicle they desire. This is HUGE.
$MULN
That was one analyst about a year and a half ago. The merger with Net Element had been announced but not completed. Obviously, his 12 month prediction, which has expired, did not happen.
$MULN
Stockforce, any idea if the SPAC has been initiated yet? Ticker symbol? $RXMD can not tell us because of the quiet period. If folks really want to invest in $RXMDs future the SPAC is where to put your momo.
Potential time period for initiation of the SPAC is 3 months ago to sometime soon IMO.
$RXMD
With that in mind, it is easy to see why Mr Fernandez and Mr Baretto are getting their shares now. They want those shares earmarked for them and included in the OS so they are eligible for purchase by the SPAC. Clever.
$RXMD
From what I've read about SPACs there is no need for an RS if they go that route. A SPAC would be formed for the purpose of BUYING RXMD with the funds raised going into an escrow account. When sufficient, they would buy the company. I'm assuming a tender offer. Might include an option to trade RXMD shares for shares in the SPAC, but all current RXMD shares would be retired to the treasury.
Once the shares are retired and the SPAC owns RXMD then an RM would occur. At that point if you own part of the SPAC you would own part of RXMD. Onward into the NASDAQ sunset.
JMO
$RXMD
It's a done deal, just needs stamp of approval by the judge. And yes, they really did pay 10 cents on the dollar. That production line is worth at least a billion.
$MULN
Not correct. The auction was cancelled and Mullen declared the winning bidder. The court hearing on October 13 is to finalize the deal before the judge.
$MULN
"They" meaning us investors, then yes, I agree. The guy in control does not seem to be in any hurry.
I, too, would love to see these three companies come back to life but know of nothing we can do about it. From the filings in the respective states of incorporation it is clear that there is the intention to bring them back at some point. Just don't know when.
$TGRR
Due the 22nd, so no.
$MULN
Agreed.
$RXMD
Yes, the Bollinger class 3 and 4 vans are further along. I believe those are contracted to be produced by Rouch. Not sure of the timing but my guess is 4 to 6 months. Plus some time for homologation (gov't does not move quickly).
$MULN
Both of you are correct. MrMike, what DC stated is in the filings verbatim. The conversion, however, is at the fixed price of $0.02 per share and, as you stated, the toxic component is removed. GLTA
$RXMD
Weeks? Sorry, I truly wish that was possible. It will take many months to tool up the various lines and source all of the components, which also need to be tooled. The late 2023 to 2024 timeframe for the Mullen Five is aggressive. That will be their first production model.
$MULN