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Long, speculative DD.
Not sure why you’re not bothering to do some of your world famous dd on this topic, but here:
https://en.m.wikipedia.org/wiki/SAIC-GM-Wuling
As you’ve seen, MULN has a partnership with SGMW (or SAIC-GM-Wuling) to import vehicles from China. SGMW is a partnership between the Chinese companies, SAIC and Wuling and GMC. GM owns 44% of the partnership. SGMW produces almost 2 million vehicles a year and sold their 25 millionth vehicle in 2021. Beyond this, however, there are a lot of connections between GM and Mullen. Read on to learn more!
MULN’s VP of Global Ops, their Chief of Commercial Operations, their Marketing guy and their Government Liaison are all former GMC employees. That really is the core positions of this company (other than DM) and they’re all held by guys with decades at GMC. This is well known, but the depth of the connection between GM and Mullen is not. Below is links proving this info, if you’re interested. If not, skip to the bold heading.
https://finance.yahoo.com/news/mullen-promotes-john-taylor-former-090000742.html
John Taylor was hired as their Vice-President of Global Managing.
https://finance.yahoo.com/news/mullen-automotive-hires-former-gm-153624600.html?guccounter=1
John Schwegman was hired as the company’s Chief of commercial operations.
https://investorplace.com/2023/01/muln-stock-alert-mullen-announces-11-new-ev-hires/
Paul Loewer was hired as MULN’s Senior Director of Product Planning and Product Marketing.
https://finance.yahoo.com/news/former-general-motors-federal-government-130000677.html
Ronald Dixon was hired as their General Manager of Government Sales. He was formerly GM’s government sales liaison.
Further GMC connections
MULN purchased ELMS, a company that was formerly held by Jim Taylor (a former executive at GMC and former CEO of Hummer) after he got in trouble for dealing himself cheap shares of his company. This is how MULN ended up in the business of importing Chinese vehicles.
https://www.freep.com/story/money/cars/2022/02/09/former-gm-executive-resigns-ev-startup-amid-investigation/6706728001/
They purchased Romeo Power from Nikola right after Steve Girsky, former Vice Chairman of GM, took over the company.
https://www.nikolamotor.com/press_releases/nikola-announces-leadership-transition-appoints-stephen-girsky-as-chief-executive-officer/
The Mullen One is a product of a collaboration between GMC and Wuling and is being imported by Mullen according to GMC’s website:
https://gmauthority.com/blog/2023/10/gms-wuling-rongguang-ev-to-be-sold-in-the-u-s-as-the-mullen-one/
GMC is very closely involved with MULN. Why? I suspect the powers that be want EV vehicles to be cheaper than gasoline vehicles and so they’re willing to allow fully Chinese vehicles to be sold as “Assembled In America” to do it. They also want to replace the government fleets of America with new cargo vehicles as soon as possible.
With this connection to GMC, my suspicion is that reaching Nasdaq compliance is almost guaranteed, there’s going to be some huge announcements related to this company and if there is a functional solid state battery (Toyota says there is) then MULN has it or will have it soon. GMC isn’t just a $39b company. It is, historically, the biggest supplier of vehicles to the US government.
It makes you wonder why MULN bought Bollinger when they bought ELMS? They do produce nice SUV and truck EVs and the US army wants an EV replacement for the Hummer….
https://twitter.com/PaulRoc58170404/status/1718247490720276673/photo/1
I looked up the numbers in the filing myself and his math is inaccurate. 287,170,691 minus 184,168,720 equals 103,001,971.
The filing containing the prospectus actually says, “up to 103,009,651“. The numbers are awfully close. I believe it’s possible that the most recent prospectus just describes dilution that already happened.
Long, speculative DD.
You didn’t actually read my post. No worries, here it is:
“Before I start- don’t trade based upon my speculation/opinions. That would be idiotic.
MULN’s VP of Global Ops, their Chief of Commercial Operations, their Marketing guy and their Government Liaison are all former GMC employees. That really is the core positions of this company (other than DM) and they’re all held by guys with decades at GMC. This is well known, but the depth of the connection between GM and Mullen is not. Below is links proving this info, if you’re interested. If not, skip to the bold heading.
https://finance.yahoo.com/news/mullen-promotes-john-taylor-former-090000742.html
John Taylor was hired as their Vice-President of Global Managing.
https://finance.yahoo.com/news/mullen-automotive-hires-former-gm-153624600.html?guccounter=1
John Schwegman was hired as the company’s Chief of commercial operations.
https://investorplace.com/2023/01/muln-stock-alert-mullen-announces-11-new-ev-hires/
Paul Loewer was hired as MULN’s Senior Director of Product Planning and Product Marketing.
https://finance.yahoo.com/news/former-general-motors-federal-government-130000677.html
Ronald Dixon was hired as their General Manager of Government Sales. He was formerly GM’s government sales liaison.
Further GMC connections
MULN purchased ELMS, a company that was formerly held by Jim Taylor (a former executive at GMC and former CEO of Hummer) after he got in trouble for dealing himself cheap shares of his company. This is how MULN ended up in the business of importing Chinese vehicles.
https://www.freep.com/story/money/cars/2022/02/09/former-gm-executive-resigns-ev-startup-amid-investigation/6706728001/
They purchased Romeo Power from Nikola right after Steve Girsky, former Vice Chairman of GM, took over the company.
https://www.nikolamotor.com/press_releases/nikola-announces-leadership-transition-appoints-stephen-girsky-as-chief-executive-officer/
The Mullen One is a product of a collaboration between GMC and Wuling and is being imported by Mullen according to GMC’s website:
https://gmauthority.com/blog/2023/10/gms-wuling-rongguang-ev-to-be-sold-in-the-u-s-as-the-mullen-one/
GMC is very closely involved with MULN. Why? I suspect the powers that be want EV vehicles to be cheaper than gasoline vehicles and so they’re willing to allow fully Chinese vehicles to be sold as “Assembled In America” to do it. They also want to replace the government fleets of America with new cargo vehicles as soon as possible.
With this connection to GMC, my suspicion is that reaching Nasdaq compliance is almost guaranteed, there’s going to be some huge announcements related to this company and if there is a functional solid state battery (Toyota says there is) then MULN has it or will have it soon. GMC isn’t just a $39b company. It is, historically, the biggest supplier of vehicles to the US government.
It makes you wonder why MULN bought Bollinger when they bought ELMS? They do produce nice SUV and truck EVs and the US army wants an EV replacement for the Hummer….”
My post has nothing to do with any PR related hype. It’s about showing the connection between MULN and GM (eg that Mullen will be importing a GM produced vehicle). It suggests a very close relationship between GM and Mullen starting when ELMS collapsed because the CEO was caught selling himself cheap shares. My guess is that MULN was GM’s back-up choice for their plan to import their Chinese vehicles.
By the way, I suspect that MULN’s lenders are still shorting this stock. It wouldn’t surprise me if they drop the price below .10 before they work to get their price up for NASDAQ compliance.
Before I start- don’t trade based upon my speculation/opinions. That would be idiotic.
MULN’s VP of Global Ops, their Chief of Commercial Operations, their Marketing guy and their Government Liaison are all former GMC employees. That really is the core positions of this company (other than DM) and they’re all held by guys with decades at GMC. This is well known, but the depth of the connection between GM and Mullen is not. Below is links proving this info, if you’re interested. If not, skip to the bold heading.
https://finance.yahoo.com/news/mullen-promotes-john-taylor-former-090000742.html
John Taylor was hired as their Vice-President of Global Managing.
https://finance.yahoo.com/news/mullen-automotive-hires-former-gm-153624600.html?guccounter=1
John Schwegman was hired as the company’s Chief of commercial operations.
https://investorplace.com/2023/01/muln-stock-alert-mullen-announces-11-new-ev-hires/
Paul Loewer was hired as MULN’s Senior Director of Product Planning and Product Marketing.
https://finance.yahoo.com/news/former-general-motors-federal-government-130000677.html
Ronald Dixon was hired as their General Manager of Government Sales. He was formerly GM’s government sales liaison.
Further GMC connections
MULN purchased ELMS, a company that was formerly held by Jim Taylor (a former executive at GMC and former CEO of Hummer) after he got in trouble for dealing himself cheap shares of his company. This is how MULN ended up in the business of importing Chinese vehicles.
https://www.freep.com/story/money/cars/2022/02/09/former-gm-executive-resigns-ev-startup-amid-investigation/6706728001/
They purchased Romeo Power from Nikola right after Steve Girsky, former Vice Chairman of GM, took over the company.
https://www.nikolamotor.com/press_releases/nikola-announces-leadership-transition-appoints-stephen-girsky-as-chief-executive-officer/
The Mullen One is a product of a collaboration between GMC and Wuling and is being imported by Mullen according to GMC’s website:
https://gmauthority.com/blog/2023/10/gms-wuling-rongguang-ev-to-be-sold-in-the-u-s-as-the-mullen-one/
GMC is very closely involved with MULN. Why? I suspect the powers that be want EV vehicles to be cheaper than gasoline vehicles and so they’re willing to allow fully Chinese vehicles to be sold as “Assembled In America” to do it. They also want to replace the government fleets of America with new cargo vehicles as soon as possible.
With this connection to GMC, my suspicion is that reaching Nasdaq compliance is almost guaranteed, there’s going to be some huge announcements related to this company and if there is a functional solid state battery (Toyota says there is) then MULN has it or will have it soon. GMC isn’t just a $39b company. It is, historically, the biggest supplier of vehicles to the US government.
It makes you wonder why MULN bought Bollinger when they bought ELMS? They do produce nice SUV and truck EVs and the US army wants an EV replacement for the Hummer….
You’re still not a real person.
So you’re whining about whining?
An excellent solution.
Who’s making lists? That was nonsense.
The current price is related to the recent dilution and the Nasdaq question. Those issues weigh more heavily (until they’re cleared) than the EPA or the DOE.
The correct answer to my question is that there is no good reason to believe you over the DOD, the DOE and the EPA. The actual truth is that MULN most likely isn’t a share selling scam. It’s a company that is attempting to produce EVs and it used massive amounts of shareholder dilution to fund the preparation for EV production after the market crashed in 2021 (probably because Michery felt it was his only option to avoid bankruptcy.)
The truth is that MULN is an EV manufacturer with a history of morally questionable decisions related to raising money and a CEO who is probably a slimeball. At this point, however, I believe they’re undervalued by a lot and have an off-chance to become a monster company.
Now there’s some truth for you. The garbage where you just make a statement and pretend it’s true- that’s deceit. The truth is that you don’t know what you’re talking about.
Share price is a reflection of numerous issues, such as dilution, the company’s standing with Nasdaq, naked shorting, etc which aren’t related to this topic.
My question was, why do you believe that a company that has been vetted by the Department of Energy, the EPA and the Department of Defense is a scam? Do you really believe you have a better notion of what is happening at MULN than those huge government entities?
How is share price relevant?
My question is, if MULN is a stock selling scheme, why would those massive government bodies ‘ok’ deals with MULN?
Are you suggesting you’re better at DD than the Department of Energy, the EPA and the Department of Defense? That those govt bodies missed the fact that this is an obvious “share selling scheme” but you know it is one?
You’ve never answered this question, IGlow/Player1234/SilverSurfer/etc:
If MULN is only a share selling scheme, why has the EPA signed off on their tax credit?
Why are they on the map TWICE as recipients of an investment from the Department of Energy?
Why are they on a list of qualified providers for the US government according to a company that has a $4b contract to provide vehicles with the department of defense?
It bounced off of .39 like I said. Let’s see if that’s the low or if it will break through.
Sounds like next week is the NASDAQ announcement. Should be interesting. I’ve read Oct 19th but I couldn’t verify that info.
Now the raging hoard of pay-per-posters can bury this relevant information with their usual nonsense.
You could have mentioned that, last we heard, they had over $200m in capital, almost no debt and an $80m market cap. Sounds like they’re a long ways from bankruptcy. There’s no reason to suggest bankruptcy except to be deceitfully negative.
I doubt it, but I don’t consider it impossible. Dilution was the cause of the previous RSes and, currently, dilution appears to have stopped.
I think it likely that Nasdaq will require an RS if they aren’t able to get the price above $1 long enough to meet the minimum requirements without an RS. I suspect just giving MULN a new Nasdaq extension will get them close to $1. After that, they could use the buy back and drop news to get the rest of the way.
We shall see, however. All of this relies on them getting the extension and not being delisted. It’s a risk.
Wrong. It’s down by 99.3% in one year.
I’ve posted tons of DD. You probably didn’t realize it was DD because it wasn’t just me repeating things that happened 15 years ago from a paper that was written 2 years ago.
I’m not planning on posting any DD this week because I suspect we are waiting on the Nasdaq results. I don’t want anyone to think I’m encouraging them to buy this stock this week since I don’t know that it will go up in the short term. I’m only here to counter the lies.
He’s posted hundreds of pictures and videos on his Twitter account. I’m not sure why you’re claiming he doesn’t post videos. Why would you make that claim if you didn’t bother to check his Twitter? Why do you post on a board every day and know nothing about what’s going on with the stock? All you know about is what happened 2-20 years ago.
The fastest I’ve seen the Mullen 5 go on a video was 160km per hour (100mph) although I think it was the RS. I assume they are usually careful with those vehicles. They’re not producing them and if they wreck those cars during the test drives they have no way to replace them.
So what you’re saying is you don’t have any proof? You didn’t take pictures or anything? You’re posting something that would be incredibly important for investors in MULN and you claim you’re all about trying to save investors from losing their money. You couldn’t be bothered to pull out your phone and take a picture?
Seems hard to believe.
It was the Mishawaka plant which hasn’t produced anything since it was building H2s 20 years ago. Do you know anything about this stock?
So explain it. Why would a person write the same 41 word post 1 minute later unless it was a mistake by a moron who screwed up while juggling two accounts?
You know I’m right. It’s ok to be honest even if you’re employed by the hedge funds.
Speaking of not adding value.
All she did was wish others well. What sort of research do you expect of her prior to being kind?
Why so mean? It’s not like she’s a paid hack who is given money by corporations to operate multiple accounts on a stock board to confuse retail and make the common man’s life worse. That would be reprehensible.
Remember when you admitted that you post on multiple accounts?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172994804
“PM Shelly and tell her I am using multiple accounts. LMAO!“
I-GLOW LIVES MATTER
I-GLM
Best post of the day.
Here’s the two identical posts that IGlow made on two different accounts within a minute of each other, in case anyone is wondering what this argument is about.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172992487
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172992501
I guess your only defense it to keep posting insane attacks on me to try to push the evidence that you’re posting under multiple accounts further down the board.
How about if I just respond by reposting the evidence every time you do so?
Oh, and you’re right. It was $125,000 dollars that you were claiming you lost to MULN on the SilverSurfer account not $20,000.
You’re a liar.
So, in you brilliant mind, posting the press releases from Mullen on Mullen’s stock forum is lying? But it’s ok for you to post on multiple accounts every day, claiming you’ve lost $20,000 dollars on MULN on one account and claiming you’d never invest in MULN on a different account?
Look, you were caught. Just admit you’re a pay-per-lie loser who’s only here because you don’t give a shit about your common man.
And here’s the two posts in question where you posted the same identical message 1 minute apart:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172992487
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172992501
Whoops.
That’s not impossible. Obviously, the Hedges aren’t going to have hundreds of half-witted forum posters in their employ for each forum. They wouldn’t want to cut tens of thousands of checks every month. I’m sure they’d much rather have one or two half-wits that they’d pay to run a large number of accounts. That way it appears that numerous people have nothing better to do with their lives than to spend all of their time on stock forums posting negative comments about a stock they don’t own.
It’s painfully obvious no one would post as uninteresting of comments as Huggy Bear 15 times a day unless they were paid to do it. It’s most painfully brain dead shit in history.
“So am I now I-glow too ?“
As I said, I-Glow and SilverSurfer posted an identical 41-word message 1 minute apart. If you believe that’s a coincidence, you’re a halfwit.
The paid hacks are liars and their messages are likely a very small number of people posting repeatedly under different names. While using SilverSurfer, IGlow was lying about losing money to gain sympathy.
It’s very possible you’re I-Glow. I do believe I overrated your intellect. You definitely are slow enough on the uptake.
“I see that your reading comprehension is that of a 2nd grader.”
This is the phrase in question from your original post:
PM Shelly and tell her I am using multiple accounts. LMAO!
Sounds like you’re admitting to using two accounts to me.
“Why don't you post your stylometry analysis of my writing style to prove I have multiple accounts - but you aren't very bright so that won't happen.”
It doesn’t require stylometry analysis. Obviously the idiotic, emotionally overwrought sounding posters are likely your accounts, ie, I-Glow, SilverSurfer, JMCK, DragonLady, and the other low-end, generic hacks. TenKay likely writes the more intelligent responses, I’m guessing UberDarth and LuckyMyDog.
My evidence that you use multiple accounts is the fact that you posted two identical messages, one at 10:23 and one at 10:24 that said exactly the same things on two different accounts, first as I-Glow and then as SilverSurfer. Here’s the message:
“Huggy has contributed a thousand times more on iHub than you ever will.
Odd that you never acknowledge the false and misleading information that Michery puts in his press releases.
But you attack those posting facts that expose the Mullen scam.”
My guess is that you posted the message by accident on the first account, thinking you’d cancelled it instead and then reposted it on the second account.
Denying you posted on both accounts means you wish people to believe that you and someone else posted the same 41 word message 1 minute apart by coincidence. Maybe you’re that stupid, but no one else is.
You are a repeat liar. How many times have you claimed you lost thousands while logged in as SilverSurfer (probably all of the especially low IQ hacks like JMCK) and then logged in as I-Glow and stated that you’d never invest in MULN. How many other accounts do you log in as?
The difference between us is I tell the truth. You’re a lying, scammer who pretends to speak for the good of the people while being paid by hacks to confuse people.
And you know nothing about my investment history. I buy bottoms. I believe MULN is at a bottom right now and is ready to fly.
So how many of the negative messages on this board are just you and TenKay? I’d guess around 70%. Does that sound right?
A pair of lying scammers being paid to control a stock message board.
“PM Shelly and tell her I am using multiple accounts.”
Alright, Silver/I-Glow. At least you’re admitting to using multiple accounts now.
Do you have any more lying sob stories about how you lost $20k to Michery? You’re the real scam here.
Check that out. You and I-Glow responded with exactly the same message. What are the odds?
You having problems logging out? Is that a stock message you send when your fellow paid hacks are attacked?
Thinking Huggies would write something worth reading is insane.
I never said 50%. The $15k doesn’t include the cost of shipping, the assembly, warranty, nor any costs related to meeting safety regulations, etc. I’d think the gross profit would still be significant, however.
Oh, and I forgot to mention, after the EV tax credit these things would only cost $30k- for a cargo van. That’s insane.
See? Now you’re rambling on about the Mullen 5 prototype. It’s a one time purchase 2 years ago. Who cares? You were completely wrong about something so you distract by changing the subject to something irrelevant.
Back to the current situation:
https://m.made-in-china.com/product/Wuling-EV-Mini-Cargo-Logistics-Van-2016190265.html
The Mullen One is a $15,000 Van made in China that MULN will assemble in the US and sell for $33k to RM. RM sells them to the public for $37.5k. $37.5k is about $25k less than the cheapest competitor’s EV van. There’s bound to be a huge market for these and each one they sell provides $18k to MULN to cover their expenses for a vehicle for which they didn’t need to produce the parts. It sounds like it should be worth a lot of money.
Normally, I also would think it’s a scam because Chinese vehicles haven’t ever been sold in the US. However, so far, the EPA is giving them the $7500 tax credit, the Department of Energy is giving them a grant, and they’re on a list of manufacturers that can produce vehicles for the US Department of Defense.
That sounds an awful lot like the US government is now ok with cheap Chinese vehicles being sold in the US and, apparently, Mullen is the company that gets to do it.
If you don’t know what a Mullen One is, why the hell are you in this forum every day? It, with the Mullen 3, is going to be Mullen’s main product in the near term. Why are you posting shit, every day, about a company of which you’re clueless? You’re just spouting disinformation.
https://mullencommercial.com/#mullenoneanchor
The Mullen One is the class-1 van that Mullen will assemble in America. It has been okayed for the $7500 tax credit.
The Campus van is the vehicle that Elms produced, not Mullen. It’s a pile of garbage that will never be street legal but MULN sold them to RM prior to the end of the second quarter for pocket change. That is what is on the financials for Q2. The numbers on the financials aren’t related to the vehicles MULN is going to produce.
Obviously, the profit margin of the Campus van has no relationship to the Mullen One because the Campus wasn’t produced by MULN and it can’t go over 19mph thus the costs and price are much different.
There’s no need for us to debate. You have no idea what you’re talking about.
They haven’t sold any of the Mullen Ones. How would you have found that info in their financials?
The second quarter financials include the sale of the Campus vans, not the Mullen Ones. I have no idea what “cost of sales” they’re referring to since they were made by Elms. Maybe it was a storage fee for keeping them on RM’s lots for 2 years or maybe receiving those vehicles was part of the purchase price of Elms.
I think MULN will be getting $33.3k per M-1 vehicle from RM so it’s more like $18.3k per vehicle.
If you had read my post you would have noted this:
“That’s a $22 profit minus cost for delivery, assembly and adjustments to meet American safety laws.”
$22k per $37k vehicle is a hell of a lot of money to cover costs.
AFAIK fully Chinese made vehicles have never been allowed to be assembled in the US because it’s a threat the the US auto industry and the EPA okaying the $7500 tax credit suggests, to me, that this is actually going to happen.
Your fact-free replies sound so menacing, Darth.
“Do they glue or just snap together ?“
Who cares? The vans are advertised online for $15k in China and sold in the US for $37k which is a lower price than any competitor and doesn’t include the 7.5k tax credit. That’s a $22k profit minus cost for delivery, assembly and adjustments to meet American safety laws. They’re then considered “assembled in America”. They avoid tariffs and American vehicles can be sold to government entities. American liberal state governments are desperate to buy a bunch of EVs and they don’t want to buy from Tesla. My guess is that the market will be huge once MULN starts mass producing.
It could be. They did, however get the EPA to okay them for a $7500 tax credit, the Department of Energy has listed them as receiving a grant and a company that has a $4b contract with the Department of Defense to procure vehicles put MULN on its provider list.
Does that normally happen to insider enrichment schemes?
You’re right. A delivery of vehicles that was ordered 2 years ago is now 7 days late. Are you sure this is more pressing of a situation than which college their executive went to 36 years ago?
It’s possible that the dispensary cancelled the deal because they realized marijuana is still illegal there and they didn’t need that many vans. Or maybe MULN realized they just weren’t going to be able to build the vans in time.
In all likelihood it was a non-binding agreement that they made because they eventually wanted the deal to happen but mostly because the dispensary wanted to have free advertisement and to be seen supporting environmental causes and MULN wanted to say they had a deal so that people would invest.