Today was supposed to be a good day for Muln because they had a test drive they’d talked up. There was a decent amount of buzz from fans though the presentation was kind of underwhelming. Took some lotto 0.5Ps for tomorrow at $0.02 each. Yup, 2 cents - got filled.
This is an interesting ticker… they are making progress, and not a total lost cause. But the actual progress mileposts are few and far between. Should continue to make for a decent swing play in the near future.
Hey squishy you dont want that smoke 
Kick rocks with you damn timeout 
Yessir
Can’t make this up - the company sold DM, the CEO, a single share of “Series AA Preferred Stock” for $25k, and this one share holds the voting power of 1.3 BILLION shares. (SEC filing) Moreover, they amended the company’s bylaws by reducing the number of voting shares needed for a valid quorum from more than 50% to just 1/3 of available votes. (SEC filing)
An equivalent 1.3B commons are worth ~$400M in the market, but he’s getting them for $25K. Yes, thousand. Their current outstanding is between 900M and 1.2B, btw. (Uncertain for … reasons.)
Talk about a hyper-efficient corporate coup!
God… Going through their filings, so many damn things to consider. Too many offerings, conversions, warrants, etc…
Waiting for their next 10-Q then updating from there with their subsequent 8-K filings of certain exercising of warrants, debt, etc… would help narrow down just how many shares are out there. Also would give some clarity for their current liquidity situation.
Honestly think for any of these run ups, honestly just better to go in and out with shares.
I agree. Playing option ( execpt maybe for 2024 leaps) Isnt viable anymore…I dont see any potent upside now considering ALL the factors that can an inhibitor effect on any run. David Michery is managing the company like a Charlatan…I dont remember seeing companies CEO giving himself those kind of powers…@Shadowstars @The_Ni, have yall already seen something like this?
Based on the latest information, it looks like we might have up to 4.3B shares on our hands by June 2023 (from 1.3B now and 900M a month ago), with a share price of $0.08 vs $0.27 now:
https://www.reddit.com/r/Muln/comments/yx60q1/what_mullen_collecting_on_the_remaining_funding/
And @Rengoku_Spirit I have not seen something like this before, but I’d wager they are borrowing from someone’s playbook. They don’t seem that smart to come up with this on their own. Companies that want to have founders or CEOs keep controlling ownership start out with a two-class equity structure, where one votes and the other does not. Like $META and $GOOG. DM is trying to do this after the fact, and in a very ungainly way. That’s what makes it even more weird.
I’ve seen cases where a company will have anti-takeover clauses/deals in place but this is just to consolidate the CEO’s voting stake in the company. While alot of dilution is possible in the future, at the moment I don’t see a case where these VCs and HFs would even want to exercise all their warrants unless its a cashless exercise.
This is now far into terrible penny stock meme territory for me.
Unfortunately the warrants do allow cashless exercise. Muln also fudged the B-S formula to allow for significant amounts of additional shares for those entities at the other side of the special purchase agreements. Details here:
https://www.reddit.com/r/Muln/comments/u8x0sg/about_that_884_exercise_price_for_those_196m/
I can understand why they did this - big money will not finance Muln unless they are compensated for risk. It’s just that retail gets screwed three ways sideways as a result.
Incidentally, they are also changing their state of incorporation from Delaware to Maryland. That gives the Board and the CEO some advantages, including no need to hold a vote to increase authorized share count. And greater liability protection and broader indemnification.
The main tragedy in all this is the share price is at $0.30 already, and put strikes don’t go lower than $0.50. IV in the multiple 100’s makes them rather dear.
MULN had 1.3B shares outstanding 6 days ago.
Today, they have 1.44B. They will dump another 220M soon.
Cannot look away from this train wreck.
Deets here: https://www.reddit.com/r/Muln/comments/z1c5e3/hot_off_the_press_2208m_new_shares_to_hit_the/
Its like saying I could win the power ball or get hit by a car…like whats her point ? 
There’s a vote happening in 10 days that asks for the following:
It is possible that MULN might end up producing some vans that they import from China and make some money there. Otherwise, this is dead in the water.
It’s very probably quite dead in the water for all of 2023, as no meaningful production is expected in 2023.
