There is another factor to consider. Since MULN is incorporated in Delaware they must comply with Delaware business law. A meeting/vote is required and shareholders must approve the RS.
Might wanna read their SEC FILINGS for actual facts.....
DIRTY DAVE aka THE FAT MAN aka THE GREASER has 100% TOTAL "VOTE CONTROL" - this SCAM is run like every other OTC PENNY SCAM DIRTY DAVE put his criminal mitts on.....
DIRTY DAVE USED COMPANY MONEY and "BOUGHT" one one one SPECIALLY CREATED NEW CLASS OF PREFERRED SHARE.....THAT ONE SHARE....gives DIRTY DAVE the CEO ASS CLOWN CON of this POS SCAM 100% TOTAL VOTE CONTROL.....
Common bagholders...HAVE NO "VOTE" that means a damn thing..they get OUT-VOTED BY THE CEO CON via the stroke of a pen....taking 10 seconds...literally.....!!
There is NO "VOTE" needed to REVERSE SPLIT this crime scene or ANYTHING ELSE THE CEO CON wants to do - he literally stands in front of a mirror....then says..."HOW DO YOU VOTE"....."APPROVED"....he then calls the company attorney and "POOF...REVERSE SPLIT PAPERWORK FILED in 24 hours OR LESS".....SAME as they did on the 1 for 25 they just enacted....
THIS PENNY SCAM HAS NO ACTUAL...FUNCTIONAL....LEGAL...."BOARD OF DIRECTORS"....ALL a OTC style penny scam.....thee end....:)))
DILUTION and a SHIT TON SUPER TANKER FULL OF IT....else BK.....IS THEIR ONLY SOLUTION AT MULN-a-CON..... as they sell NOTHING and have ZERO REVENUES....not a plug wooden nickel's worth ....ever....and NO prospects near term of anything BUT DILUTION or going broke.....:))
WITHOUT ENDLESS MASS DILUTION - this POS IS INSIDE A BK COURT IN UNDER 60 DAYS and are MASSIVELY IN DEBT TOO BOOT WTF.....
This scam will NEVER MAKE IT and NEVER SURVIVE - this goes SUB ONE $BUCK RAPIDLY + they are ALREADY RUSSELL DE-LISTED AND THAT EQUALS MASS SHARE DUMPING + ENDLESS GUTTER WARRANTS FOR THE COMBO SHORT STRADDLES TO THE DIRT NAP LEVELS....
DIRTY DAVE CON JOB "UP IN SMOKE NUMERO 6 FAILURE CON MACHINE" - thee end....nothing else to say but a SCAM....total smoke machine...
THEIR ONLY "PRODUCT" MULN-a-CRIME SELLS IS DILUTION SHARES TO BAG HOLDING PENNY MARKS....
TEE UP THE NEXT REVERSE SPLIT....it's already in the hopper 100% GUARANT-DAMN-TEED :)))
SEE ESOUSA and the boys aka HEDGE GUTTER LENDERS R US aka WARRANT KICKER LOADED CRAP LOANS R US.....LMAO.....THAT is who is SHORTING THIS POS TO THE DIRT NAP LEVELS...the who's who of GUTTER LENDERS is on this POS like stink on a bad monkey....and DIRTY DAVE is "IN ON IT" as he gets endless FREE SHARES and DUMPS n SHORTS THE STOCK HIMSELF as scammary "CEO".....!!!
AND and and ACUITAS HOLDING aka TERRANCE PEIZER one of the LARGEST SHAREHOLDERS OF MULN-a-FRAUD....INDICTED ONLY MONTHS AGO....he created some of their BIGGEST GUTTER TOXIC LOANS.....swell guy.....SHORTED THIS POS SO DEEP...it's now in a super-fund toxic dump cleanup site designation...Bwaaa ha ha ha....:)
SAME DUDE JUST BUSTED....there he be...thee BFF "FUNDER" aka DEATH SPIRAL NOTE HOLDER of MULN-a-CON....it's not complicated boys n girls...."NAKED SHORTING" blah blah MYTHS....that's all they are....IT'S DEATH SPIRAL 101 AS TO WHY THIS POS is swirling the bowl......THEY ARE THE "SHORT"S....only THEM....!!
BIGGY HARDGE IN THE LEGAL HURT LOCKER as his "SCAM PAST FAKE STORIES" are unwinding faster than a ball of twine and a mean ALLEY CAT playing on a hot summer night....:))
CONS HELPING CONS....MULN-a-SCAM....LMAO.....can't even make this crap up it's so freaking dirty and B A D ....BAD BAD BAD......:))
Just an FYI on @Mullen_USA. In announcing their partnership with Lawrence Hardge, they stated in a PR and SEC filing that "In the late 90s, Lawrence was convicted of a state crime, which was ultimately expunged." Is this true? @hardge_law87778$MULN#MULNpic.twitter.com/6VdqvCUI0I
$MULN Founder, Chairman and CEO, David Michery led 5 failed penny stock companies prior to Mullen.
Two had their securities registrations revoked by the SEC, two terminated their securities registrations, and the last one merged with a speculative gold mining company. pic.twitter.com/nUcYJJtisR
— Hindenburg Research (@HindenburgRes) April 6, 2022
For its electric SUV, $MULN previously announced it received an order for 10,000 vehicles, representing $500 million in potential revenue. We called the South Florida contractor firm that placed the order. It currently has only around 11 vehicles, none of which are electric. pic.twitter.com/ovfDwCman1
— Hindenburg Research (@HindenburgRes) April 6, 2022
Previously, $MULN had announced purchase orders valued at $60 million for 1,200 Class 2 commercial EV fleet vans. The order came from a small cannabis retailer with only one location, a mailbox drop address & new online store. pic.twitter.com/XIRLAEVwY5
— Hindenburg Research (@HindenburgRes) April 6, 2022
What you are forgetting, DM has a poison pill preferred share that is equal to 300M shares of common stock, should shareholders try to cancel the RS, DM can override the shareholders and do what he wants as the CEO. He created that poison pill for RS events as what you are describing.