Replies to post #63553 on Mullen Automotive Inc (MULN)

[TenKay]

“how'd that appeal of them not getting the 10-day rule applied to them on the first 180-day "grace period" go“

There was no “appeal”. There is nothing in the Rulebook that says there is any sort of appeal on the extension of the 10 day period. If there was such a mechanism it would probably take longer to address it than the 10 days Nasdaq could add.

But there isn’t.

What happened there is quite simple.

1) When they got to the 10 days they put out a PR saying, essentially, we have met the 10 day requirement…thinking they were good to go.

2) but Nasdaq never took them off the non-compliant list, because they have the ability and sole discretion to extend the 10 days up to 20 days under certain conditions which applied to MULN.

3) on day 13 MULN fell back below $1 and stayed there so it was a moot point by then.

4) they were still considered non-complaint but still had time left in the second 180 day period.

Except that is going to run out on Sept 7 I believe.

At that point they will get a Staff Delisting Determination, which they can appeal if they choose.

But I do agree they have little chance of being successful. Their share price trajectory has been pretty cut and dry.

[I-Glow]

Tenkay is spilling out facts - you might actually want to read what he posted. According to Nasdaq there is an appeals process. That doesn't mean Mullen won't be delisted.

I have learned a great deal from reading his posts over the years. And several times he has corrected me on information I had posted. But he always backed up what I was saying with facts.

I don't know if Mullen will be delisted - I wouldn't be surprised if the SEC file a complaint against Michery/Mullen - but with the SEC you never know.

Mullen is a share selling scheme - and a ATM for Michery.

IG