MULN: 1.07
The Board of Directors of the Company has authorized a stock buyback program, pursuant to which the Company may, until
December 31, 2023, purchase up to $25 million in shares of its outstanding common stock. The shares may be repurchased,
from time to time, in the open market or in privately negotiated transactions depending upon market conditions and other
factors, and in accordance with applicable regulations of the Securities and Exchange Commission. The authorization of the
stock buyback program does not obligate the Company to purchase any shares and may be terminated or amended by the
Board at any time prior to its expiration date.
The Company ended fiscal third quarter on June 30, 2023, with stockholders’ equity of $351.8 million, compared to $157.0
million on Sept 30, 2022, which represents an increase of 124%.
During the quarter ended June 30, 2023, the Company successfully secured $100 million in funding from its Series D
preferred stock investors which completes all remaining investment obligations to the Series D holders. With this latest
investment, the Company’s cash and cash equivalents exceed $200 million as of July 3, 2023, bolstering our liquidity and
supporting our move from prototype to production for commercial vehicles.
During the quarter ended June 30, 2023, the Company recorded its first revenues on the sale of Campus EV Cargo Vans.
June 30, 2023
Cash and cash equivalents $ 214,012,136
Restricted cash 13,419,872
Accounts receivable 308,000
Inventory 12,146,844
Prepaid expenses and other current assets 15,154,205
TOTAL CURRENT ASSETS 255,041,057
Shares Outstanding 74.48M
Float 49.67M
Shares Short (Jul 30, 2023) 13.86M
52 Week Range 0.87 - 23.2500
= 3.42/share
AI
