Latest 8k filing, the MULN BOD voted for stock dilution, given their voting share leverage. RIP This corporation is authorized to issue two classes of stock to be designated, respectively, common stock and preferred stock. The total number of shares that this corporation is authorized to issue is Two Billion Two Hundred Fifty Million (2,250,000,000). The total number of shares of common stock authorized to be issued is One Billion Seven Hundred Fifty Million (1,750,000,000), par value $0.001 per share (the "Common Stock").
Any way you slice it, a company with $65.2 million in cash that’s burning through $36.6 million of it (or more) per quarter is going to need more money. Assuming it has to continue raising this money through convertible financing, as it’s done before, it’ll do so on terms highly unfavorable to anyone holding MULN stock.
tantamount
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@apkaiser80, Great analysis, thank you for the comments.
apkaiser80
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These concerns were further amplified by a hard-hitting short seller report from Hindenburg Research. Hindenburg warned that there wasn’t much going on at Mullen’s manufacturing facility in Alabama. It also cautioned that some of Mullen’s technology appears to be simply repurposed materials from Chinese vendors.
blueboy356886
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Let's gooooo
aarongoh59920
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hopefully we can see $5 to $7 first ....... when lucid join Nasdaq its nothing special just couple days 5% up i believe only 3 days .... crossing finger this will be different ....since it is only $1.32 now
They IPO’d in 2021 and have increased the float by 7-8X. I’m bullish but not sure if your idea holds up since it’s an entirely new company after IPO. But let’s send it to $10+ anyway ;)
tantamount
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@Irishmin31, Sounds good to me! Thanks for the comments!