Mullen Automotive Inc (MULN)

[I-Glow]

But Mullen isn't on the OTC and the SEC defines a penny stock - one that trades below $5.

You are talking about OTC stocks most that don't report to the SEC. "Some penny stocks have been riding toxic loans to the bank for well over 10 years with a downward spiraling stock price and still going."

"The Securities and Exchange Commission (SEC) has been taking action against "toxic lenders" since 2020. The SEC claims that these investors are acting as unregistered dealers."

The SEC is stopping the Toxic financing from guys like John Fife etc. That is why Esousa did a $50M loan with a $18M Discount. But Esousa has been involved with Michery since the days of Net Element.

In 2020 Michery posted on Twitter that Mullen had a Solid State Battery that has a 500 mile range.

"David Michery: Solid State Polymer Battery 500 plus mile range (Twitter: Aug, 2020)
(

Solid State Polymer Battery
500 plus mile range#mullenusa #mullentechnologies #evs #imaginewhatspossible #charging pic.twitter.com/L8qSYXPOp0

— David Michery (@DavidMichery) August 28, 2020

)

That is securities fraud, especially for an exchange-traded stock. Because it isn't true.

That is one of many examples of Michery making fraudulent statements for pumping purposes only.

I believe the financials contain untruthful information but I defer to TK in analyzing a financial statement.

Mullen is supposed to deposit $24M on 03/09/2024 in an escrow account for the GEM lawsuit - if that happens that will accelerate the demise of Mullen and Michery.

What it will take is for someone to do the heavy lifting for the SEC and put together a detailed report on the Malfeasance of Michery for the DOJ to become involved.

IG