Market Data 
Markets
Replies to post #71237 on Bollinger Innovations Inc (BINI)
08/05/24 11:23 AM
(iv) Excessive Reverse Stock Splits
Notwithstanding the foregoing, if a Company’s security fails to meet the continued listing requirement for minimum bid price and the Company has effected one or more reverse stock splits over the prior two-year period with a cumulative ratio of 250 shares or more to one, then the Company shall not be eligible for any compliance period specified in this Rule 5810(c)(3)(A) and the Listing Qualifications Department shall issue a Staff Delisting Determination under Rule 5810 with respect to that security.
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 #MULN pic.twitter.com/6VdqvCUI0I
— Post Hoc (@PostHoc94107) May 18, 2023
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 #MULN pic.twitter.com/6VdqvCUI0I
— Post Hoc (@PostHoc94107) May 18, 2023
$MULN Founder, Chairman and CEO, David Michery led 5 failed penny stock companies prior to Mullen.
— Hindenburg Research (@HindenburgRes) April 6, 2022
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
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
08/13/24 10:24 AM
$MULN If Trevor Milton of Nikola was charged 11 years but sentenced to 4 years after defrauding investors for merely pushing a scam "EV truck" down a hill and filming it as - "See our new vehicle DOES drive and runs" blah blah....then..... I'd predict David Michery criminal federal charges would be in the 20-30 year range with a sentencing arrangement ....aka cutting and copping a plea ....oh.....near 10ish yrs inside a CLUB FED camp site ......
NOTE 2 – LIQUIDITY, CAPITAL RESOURCES, AND GOING CONCERN
These consolidated financial statements have been prepared on the basis that assumes the Company will continue as a going concern which contemplates the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business.
During the nine months ended June 30, 2024, the COVID-19 pandemic did not have a material impact on our operating results. The Company has not observed any impairments of its assets or a significant change in the fair value of its assets due to the COVID-19 pandemic. At this time, it is not possible for the Company to predict the duration or magnitude of the adverse results of the outbreak and its effects on the Company’s business or results of operations, financial condition, or liquidity.
The Company evaluated whether there are any conditions and events, considered in the aggregate, that raise substantial doubt about its ability to continue as a going concern over the next twelve months from the date of filing this report. The Company's principal source of liquidity consists of existing cash and restricted cash of approximately $4.0 million as of June 30, 2024. During the nine months ended June 30, 2024, the Company used approximately $145.2 million of cash for operating activities. The net working capital deficit on June 30, 2024 amounted to approximately $59.0 million, or $10.4 million after excluding derivative and warrant liabilities, Series E Preferred Stock liability, ELOC commitment fees, and liabilities to issue stock that may be settled by issuing common stock, rather than cash.
For the nine months ended June 30, 2024, the Company incurred a net loss of $327.0 million and, and as of June 30, 2024, our accumulated deficit was $2,143.3 million. There is substantial doubt about the Company's ability to continue as a going concern because the cash on hand is insufficient to meet its working capital and capital expenditure requirements for a period of at least twelve months from the date of the filing of this Form 10-Q.
If the Company does not secure adequate funding to fulfill its current liabilities, it anticipates seeking bankruptcy protection in various jurisdictions within 30 days of publishing these financial statements. The Company is actively pursuing additional funds. However, there is no guarantee that the Company will be able to restructure its debts and/or secure the necessary financing on favorable terms.
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 #MULN pic.twitter.com/6VdqvCUI0I
— Post Hoc (@PostHoc94107) May 18, 2023
$MULN Founder, Chairman and CEO, David Michery led 5 failed penny stock companies prior to Mullen.
— Hindenburg Research (@HindenburgRes) April 6, 2022
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
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
AI
