Mullen Automotive Inc (MULN)

[TenKay]

“Let's just keep it honest ?“

Sure let’s do that. MULN bought two entities it needed to raise capital through equity sales to do. BOTH those entities lacked capital to continue to operate. In the case of ELMS they had over $130 million in cash at one point and still couldn’t make a go of it. And that is double what MULN has ever had sitting in the bank.

So now, MULN will have to find a way to raise a boatload of MORE money in order for its purchases to have any hope of providing an ROI.

And we see what the dilution needed to make those acquisitions has done to the stock price.

Now he has to raise more than he did previously with the stock price well below $1.

The math is simple. It is unlikely he can make this work to the benefit of the current holders of the common equity.

So is it all for show?