Mullen Automotive Inc (MULN)

[TenKay]

Jesus…what a bunch of malarky. Some of the pages of the claim are making their way to various sites and boards and so far it is astounding how dumb they are.

There is a reason that the Broadridge numbers and the DTCC deposits don’t match…the supposed “imbalance” is because not all shares end up in DTCC right away. They only end up as a DTCC deposit once they have been first sold into the market. It is why DTCC deposits ALWAYS lag unrestricted issued share counts.

The other one I saw was on the first page where they are complaining that the brokers were (illegally) short selling stock (on behalf of their clients) and then covering with the newly issued stock.

First, that is NOT illegal.

And second, and most laughable is the FACT that Mullen’s financing agreement SPECIFICALLY allowed this type of activity to occur. So they are complaining about activity that they allowed to occur in the first place?

In another item I saw about the brokers supposedly selling stock they were meant to hold for their clients…it’s almost as if they have never heard of or are totally unfamiliar with how “book entry” works.

I can’t wait to see some of the responses from the brokers.

The more stuff I see the stupider it gets.