I bought lots of Mullen stock

2023-09-02

I bought lots of Mullen stock not understanding what i was getting into. It was all over youtube how it was under $1 & I bought at 70cents so i wouldn't miss out. Today, it continues to drag my small portfolio down. Here's the lesson,..... dont buy stocks you know nothing about. In saying that, im keeping my Mullen stock, i actually like their ev cars & the new ev small delivery vans and it is a small company with ambitious plans. Im no expert but i think they just need some time to sell their products and turn things around .... operate "business as usual" ignoring the noise surrounding their stock price & lawsuit. I am holding onto my stock & will wait. Time will tell .....[Miser] Hopeful.

Mullen Automotive CEO Responds to Fox Business Question

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

CyrilDavy
2023-09-04
CyrilDavy
I bought in a long time ago and continue to try averaging down. 8,000+ shares average around $4
MatthewWalter
2023-09-04
MatthewWalter
Seems like we will have another reverse split soon and I’m sure they have to do offering because they are running out of money
LeilaLynch
2023-09-04
LeilaLynch
Not selling, at this point it can all be gone, about the same as selling right now. Sticking with it.
littlesweetie
2023-09-04
littlesweetie
Is it crazy to invest in an unknown EV company to go against tesla and the other major manufacturers?
EmilyMark
2023-09-04
EmilyMark
I’m feeling down 😞 holding 30k shares at a 60 cent cost average and worried I’ll lose it all

Leave a comment

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It was all over youtube how it was under $1 &amp; I&nbsp;bought at 70cents so i wouldn't miss out. Today, it continues to drag my small portfolio down. Here's the lesson,..... dont buy stocks you know nothing about. In saying that, im keeping my Mullen stock, i actually like their ev cars &amp; the new ev small delivery&nbsp;vans and it is a small company with ambitious plans.&nbsp; Im no expert but i think&nbsp;they just need some time to sell their products and&nbsp;turn things around .... operate&nbsp;\"business as usual\" ignoring the noise surrounding their&nbsp;stock price &amp; lawsuit. I am holding onto my stock &amp; will wait. Time will tell .....[Miser]&nbsp;Hopeful.</body></html>","htmlText":"<html><head></head><body>I bought lots of&nbsp;Mullen stock not understanding what i was getting into. It was all over youtube how it was under $1 &amp; I&nbsp;bought at 70cents so i wouldn't miss out. Today, it continues to drag my small portfolio down. Here's the lesson,..... dont buy stocks you know nothing about. In saying that, im keeping my Mullen stock, i actually like their ev cars &amp; the new ev small delivery&nbsp;vans and it is a small company with ambitious plans.&nbsp; Im no expert but i think&nbsp;they just need some time to sell their products and&nbsp;turn things around .... operate&nbsp;\"business as usual\" ignoring the noise surrounding their&nbsp;stock price &amp; lawsuit. I am holding onto my stock &amp; will wait. Time will tell .....[Miser]&nbsp;Hopeful.</body></html>","text":"I bought lots of Mullen stock not understanding what i was getting into. It was all over youtube how it was under $1 & I bought at 70cents so i wouldn't miss out. Today, it continues to drag my small portfolio down. Here's the lesson,..... dont buy stocks you know nothing about. In saying that, im keeping my Mullen stock, i actually like their ev cars & the new ev small delivery vans and it is a small company with ambitious plans. Im no expert but i think they just need some time to sell their products and turn things around .... operate \"business as usual\" ignoring the noise surrounding their stock price & lawsuit. I am holding onto my stock & will wait. Time will tell .....[Miser] Hopeful.","highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":5,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/215312015380496","repostId":2364209496,"repostType":2,"repost":{"id":"2364209496","kind":"highlight","weMediaInfo":{"introduction":"Share your news with media, investors, and consumers with targeted distribution options from one of the world’s largest and most trusted newswires.","home_visible":1,"media_name":"GlobeNewswire","id":"1016364462","head_image":"https://static.tigerbbs.com/31bb960c88eab45f27ccc9fce75dee9a"},"pubTimestamp":1693546200,"share":"https://ttm.financial/m/news/2364209496?lang=en_US&edition=fundamental","pubTime":"2023-09-01 13:30","market":"us","language":"en","title":"Mullen Automotive CEO Responds to Fox Business Question","url":"https://stock-news.laohu8.com/highlight/detail?id=2364209496","media":"GlobeNewswire","summary":"Mullen Response: The Condensed Consolidated Statements of Operations contains both cash and non-cash expenditures in total operating expenses. For the three months ended June 30, 2023, we incurred $7.8 million of non-cash expenses including: $6.6 million of non-cash charge for warrants provided to Qiantu.$4.1 million in stock-based compensation to employees and consultants.$2.5 million in depreciation and amortization. million in increased working capital as we move into production of our commercial vehicles. Pursuant to the Condensed Consolidated Statements of Cash Flows, we spent $46.1 million in operating expenses as compared to the $53.9 million of Total Operating Expenses reported on the Condensed Consolidated Statement of Operations: Three Months Ending June 30, 2023 Operating Activities: $ millionInvesting Activities: $ millionFinancing Activities: $196.8 million Please refer to our press release related to our quarterly third quarter results, issued Aug. 14, 2023, for ","content":"<html><body><div>\n<a href=\"https://laohu8.com/S/MULN\">Mullen Automotive</a> Inc.\n<figure>\n<img src=\"https://ml.globenewswire.com/Resource/Download/182dc189-962d-474d-b605-8afc4dfef63b?size=2\" title=\"Mullen Automotive Inc.\"/>\n<figcaption>Condensed Consolidated Statements of Operation (unaudited)</figcaption>\n</figure>\n</div>David Michery, CEO and chairman of Mullen Automotive, appeared on ‘Making Money with Charles Payne’ on Fox Business on Thursday, Aug. 31, to discuss lawsuit against large brokerage firms for unlawful trading practices of the Company’s stock and other matters. BREA, Calif., Sept. 01, 2023 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces today its response to a question asked during Mullen CEO David Michery’s appearance on Making Money with Charles Payne, which aired on Fox Business at 2:55 p.m. EST on Aug. 31, 2023. Michery and Wes Christian of the law firm of Christian Attar were interviewed by host Charles Payne to discuss various matters and, notably, Mullen’s recent lawsuit against large brokerage firms including TD Ameritrade, Charles Schwab, National Finance Services and others alleging that these broker-dealers engaged in a scheme to manipulate the share price of the Company’s securities. Mullen hired the services of Christian Attar in partnership with Warshaw Burstein, LLP to file this lawsuit and has taken a number of measures to combat illegal short-selling activities to protect retail investors. “During the broadcast yesterday, the feed provided by Fox lost its audio connection with us and as a result we did not have a chance to respond at the end of the segment,” said David Michery, CEO and chairman of Mullen Automotive. “Below is our response to Charles’ last question.” Charles Payne Question: Can you explain $31 million in G&amp;A per the Condensed Consolidated Statements of Operations? Mullen Response:  The Condensed Consolidated Statements of Operations contains both cash and non-cash expenditures in total operating expenses. For the three months ended June 30, 2023, we incurred $7.8 million of non-cash expenses including: <ul><li>$6.6 million of non-cash charge for warrants provided to Qiantu.</li><li>$4.1 million in stock-based compensation to employees and consultants.</li><li>$2.5 million in depreciation and amortization.</li><li>($5.4) million in increased working capital as we move into production of our commercial vehicles.</li></ul> Pursuant to the Condensed Consolidated Statements of Cash Flows, we spent $46.1 million ($15.3 million per month) in operating expenses as compared to the $53.9 million of Total Operating Expenses reported on the Condensed Consolidated Statement of Operations: Three Months Ending June 30, 2023                                               Operating Activities:         $(46.1) million Investing Activities:           $(10.0) million Financing Activities:          $196.8 million Please refer to our press release related to our quarterly third quarter results, issued Aug. 14, 2023, for further information. If you compare our operating cash flows to our competitors, you will see that we operate very efficiently.  Mullen also has a strong balance sheet with $352 million in stockholders’ equity, $560 million in total assets and total notes payable of only $7.3 million. For example, Canoo reported a $62.3 million use of operating cash flow for the quarter ended June 30, 2023. Nikola reported $107.2 million use of operating cash flow for the quarter ended June 30, 2023. Workhorse reported $33.1 of operating cash flow for the quarter ended June 30, 2023. As noted above, Mullen used $46.1 million of operating cash flow for the quarter ended June 30, 2023. About Mullen Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in its two United States-based assembly plants. Mullen's EV development portfolio includes the Mullen FIVE EV Crossover, Mullen I-GO Commercial Urban Delivery EV, Mullen Commercial Class 1-3 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and Class 4-6 commercial offerings. On Sept. 7, 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition of all of Electric Last Mile Solutions' (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana. To learn more about the Company, visit www.MullenUSA.com. Forward-Looking Statements Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Examples of such risks and uncertainties include but are not limited to the impact and outcome of the referenced lawsuit.   Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen’s plans and expectations as of any subsequent date. Contact: Mullen Automotive, Inc. +1 (714) 613-1900 www.MullenUSA.com Corporate Communications: InvestorBrandNetwork (IBN) Los Angeles, California www.InvestorBrandNetwork.com 310.299.1717 Office Editor@InvestorBrandNetwork.com \nAttachment\n\n<ul>\n<li>\nMullen Automotive Inc.\n</li>\n</ul>\n <img referrerpolicy=\"no-referrer-when-downgrade\" src=\"https://ml.globenewswire.com/media/NDBhNmM5ZTEtZGU4Mi00YzJhLThhYjktMjJlNjk4ZDA4YTc2LTUwMDA3NDUwOQ==/tiny/Mullen-Automotive-Inc-.png\"/></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mullen Automotive CEO Responds to Fox Business Question</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMullen Automotive CEO Responds to Fox Business Question\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1016364462\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/31bb960c88eab45f27ccc9fce75dee9a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\nGlobeNewswire \n2023-09-01 13:30\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><div>\n<a href=\"https://laohu8.com/S/MULN\">Mullen Automotive</a> Inc.\n<figure>\n<img src=\"https://ml.globenewswire.com/Resource/Download/182dc189-962d-474d-b605-8afc4dfef63b?size=2\" title=\"Mullen Automotive Inc.\"/>\n<figcaption>Condensed Consolidated Statements of Operation (unaudited)</figcaption>\n</figure>\n</div>David Michery, CEO and chairman of Mullen Automotive, appeared on ‘Making Money with Charles Payne’ on Fox Business on Thursday, Aug. 31, to discuss lawsuit against large brokerage firms for unlawful trading practices of the Company’s stock and other matters. BREA, Calif., Sept. 01, 2023 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces today its response to a question asked during Mullen CEO David Michery’s appearance on Making Money with Charles Payne, which aired on Fox Business at 2:55 p.m. EST on Aug. 31, 2023. Michery and Wes Christian of the law firm of Christian Attar were interviewed by host Charles Payne to discuss various matters and, notably, Mullen’s recent lawsuit against large brokerage firms including TD Ameritrade, Charles Schwab, National Finance Services and others alleging that these broker-dealers engaged in a scheme to manipulate the share price of the Company’s securities. Mullen hired the services of Christian Attar in partnership with Warshaw Burstein, LLP to file this lawsuit and has taken a number of measures to combat illegal short-selling activities to protect retail investors. “During the broadcast yesterday, the feed provided by Fox lost its audio connection with us and as a result we did not have a chance to respond at the end of the segment,” said David Michery, CEO and chairman of Mullen Automotive. “Below is our response to Charles’ last question.” Charles Payne Question: Can you explain $31 million in G&amp;A per the Condensed Consolidated Statements of Operations? Mullen Response:  The Condensed Consolidated Statements of Operations contains both cash and non-cash expenditures in total operating expenses. For the three months ended June 30, 2023, we incurred $7.8 million of non-cash expenses including: <ul><li>$6.6 million of non-cash charge for warrants provided to Qiantu.</li><li>$4.1 million in stock-based compensation to employees and consultants.</li><li>$2.5 million in depreciation and amortization.</li><li>($5.4) million in increased working capital as we move into production of our commercial vehicles.</li></ul> Pursuant to the Condensed Consolidated Statements of Cash Flows, we spent $46.1 million ($15.3 million per month) in operating expenses as compared to the $53.9 million of Total Operating Expenses reported on the Condensed Consolidated Statement of Operations: Three Months Ending June 30, 2023                                               Operating Activities:         $(46.1) million Investing Activities:           $(10.0) million Financing Activities:          $196.8 million Please refer to our press release related to our quarterly third quarter results, issued Aug. 14, 2023, for further information. If you compare our operating cash flows to our competitors, you will see that we operate very efficiently.  Mullen also has a strong balance sheet with $352 million in stockholders’ equity, $560 million in total assets and total notes payable of only $7.3 million. For example, Canoo reported a $62.3 million use of operating cash flow for the quarter ended June 30, 2023. Nikola reported $107.2 million use of operating cash flow for the quarter ended June 30, 2023. Workhorse reported $33.1 of operating cash flow for the quarter ended June 30, 2023. As noted above, Mullen used $46.1 million of operating cash flow for the quarter ended June 30, 2023. About Mullen Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in its two United States-based assembly plants. Mullen's EV development portfolio includes the Mullen FIVE EV Crossover, Mullen I-GO Commercial Urban Delivery EV, Mullen Commercial Class 1-3 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and Class 4-6 commercial offerings. On Sept. 7, 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition of all of Electric Last Mile Solutions' (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana. To learn more about the Company, visit www.MullenUSA.com. Forward-Looking Statements Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Examples of such risks and uncertainties include but are not limited to the impact and outcome of the referenced lawsuit.   Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen’s plans and expectations as of any subsequent date. Contact: Mullen Automotive, Inc. +1 (714) 613-1900 www.MullenUSA.com Corporate Communications: InvestorBrandNetwork (IBN) Los Angeles, California www.InvestorBrandNetwork.com 310.299.1717 Office Editor@InvestorBrandNetwork.com \nAttachment\n\n<ul>\n<li>\nMullen Automotive Inc.\n</li>\n</ul>\n <img referrerpolicy=\"no-referrer-when-downgrade\" src=\"https://ml.globenewswire.com/media/NDBhNmM5ZTEtZGU4Mi00YzJhLThhYjktMjJlNjk4ZDA4YTc2LTUwMDA3NDUwOQ==/tiny/Mullen-Automotive-Inc-.png\"/></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MULN":"Mullen Automotive","IBN":"印度工业信贷投资银行","IE00B7N09G41.SGD":"柏瑞印度股票A5CP SGD","BK4207":"综合性银行","IE00BYTNYM70.SGD":"PINEBRIDGE INDIA EQUITY \"A5\" (SGD) ACC","BK4588":"碎股","LU0251143458.SGD":"Fidelity Emerging Markets A-SGD","BK4099":"汽车制造商","BK4523":"印度概念","LU0066902890.USD":"HSBC GIF INDIAN EQUITY \"AD\" (USD) INC","BK4535":"淡马锡持仓","SG9999004220.SGD":"Nikko AM Shenton Asia Dividend Equity Fund SGD","BK4548":"巴美列捷福持仓","BK4585":"ETF&股票定投概念","IE00B0JY6M65.USD":"PINEBRIDGE INDIA EQUITY \"A\" (USD) ACC"},"source_url":"https://www.globenewswire.com/news-release/2023/09/01/2736067/0/en/Mullen-Automotive-CEO-Responds-to-Fox-Business-Question.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2364209496","content_text":"Mullen Automotive Inc.\n\n\nCondensed Consolidated Statements of Operation (unaudited)\n\nDavid Michery, CEO and chairman of Mullen Automotive, appeared on ‘Making Money with Charles Payne’ on Fox Business on Thursday, Aug. 31, to discuss lawsuit against large brokerage firms for unlawful trading practices of the Company’s stock and other matters. BREA, Calif., Sept. 01, 2023 (GLOBE NEWSWIRE) -- via IBN -- Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an emerging electric vehicle (“EV”) manufacturer, announces today its response to a question asked during Mullen CEO David Michery’s appearance on Making Money with Charles Payne, which aired on Fox Business at 2:55 p.m. EST on Aug. 31, 2023. Michery and Wes Christian of the law firm of Christian Attar were interviewed by host Charles Payne to discuss various matters and, notably, Mullen’s recent lawsuit against large brokerage firms including TD Ameritrade, Charles Schwab, National Finance Services and others alleging that these broker-dealers engaged in a scheme to manipulate the share price of the Company’s securities. Mullen hired the services of Christian Attar in partnership with Warshaw Burstein, LLP to file this lawsuit and has taken a number of measures to combat illegal short-selling activities to protect retail investors. “During the broadcast yesterday, the feed provided by Fox lost its audio connection with us and as a result we did not have a chance to respond at the end of the segment,” said David Michery, CEO and chairman of Mullen Automotive. “Below is our response to Charles’ last question.” Charles Payne Question:Can you explain $31 million in G&A per the Condensed Consolidated Statements of Operations? Mullen Response:  The Condensed Consolidated Statements of Operations contains both cash and non-cash expenditures in total operating expenses. For the three months ended June 30, 2023, we incurred $7.8 million of non-cash expenses including: $6.6 million of non-cash charge for warrants provided to Qiantu.$4.1 million in stock-based compensation to employees and consultants.$2.5 million in depreciation and amortization.($5.4) million in increased working capital as we move into production of our commercial vehicles. Pursuant to the Condensed Consolidated Statements of Cash Flows, we spent $46.1 million ($15.3 million per month) in operating expenses as compared to the $53.9 million of Total Operating Expenses reported on the Condensed Consolidated Statement of Operations: Three Months Ending June 30, 2023                                              Operating Activities:         $(46.1) millionInvesting Activities:           $(10.0) millionFinancing Activities:          $196.8 million Please refer to our press release related to our quarterly third quarter results, issued Aug. 14, 2023, for further information. If you compare our operating cash flows to our competitors, you will see that we operate very efficiently.  Mullen also has a strong balance sheet with $352 million in stockholders’ equity, $560 million in total assets and total notes payable of only $7.3 million. For example, Canoo reported a $62.3 million use of operating cash flow for the quarter ended June 30, 2023. Nikola reported $107.2 million use of operating cash flow for the quarter ended June 30, 2023. Workhorse reported $33.1 of operating cash flow for the quarter ended June 30, 2023. As noted above, Mullen used $46.1 million of operating cash flow for the quarter ended June 30, 2023. About MullenMullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of electric vehicles (“EVs”) that will be manufactured in its two United States-based assembly plants. Mullen's EV development portfolio includes the Mullen FIVE EV Crossover, Mullen I-GO Commercial Urban Delivery EV, Mullen Commercial Class 1-3 EVs and Bollinger Motors, which features both the B1 and B2 electric SUV trucks and Class 4-6 commercial offerings. On Sept. 7, 2022, Bollinger Motors became a majority-owned EV truck company of Mullen Automotive, and on Dec. 1, 2022, Mullen closed on the acquisition of all of Electric Last Mile Solutions' (“ELMS”) assets, including all IP and a 650,000-square-foot plant in Mishawaka, Indiana. To learn more about the Company, visit www.MullenUSA.com. Forward-Looking StatementsCertain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Examples of such risks and uncertainties include but are not limited to the impact and outcome of the referenced lawsuit.   Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen’s plans and expectations as of any subsequent date. Contact:Mullen Automotive, Inc.+1 (714) 613-1900www.MullenUSA.com Corporate Communications:InvestorBrandNetwork (IBN) Los Angeles, California www.InvestorBrandNetwork.com 310.299.1717 Office Editor@InvestorBrandNetwork.com \nAttachment\n\n\n\nMullen Automotive Inc.","news_type":1,"symbols_score_info":{"IBN":1,"MULN":1}},"isVote":1,"tweetType":1,"viewCount":1605,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":572,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":216209234399320,"commentId":"216209234399320","gmtCreate":1693792549843,"gmtModify":1693792557059,"authorId":9000000000000641,"author":{"id":9000000000000641,"idStr":"9000000000000641","authorId":9000000000000641,"name":"CyrilDavy","avatar":"https://static.tigerbbs.com/fd67ba4a6ca5ca66b27af6afcce989dc","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":215312015380496,"objectIdStr":"215312015380496","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"I bought in a long time ago and continue to try averaging down. 8,000+ shares average around $4","text":"I bought in a long time ago and continue to try averaging down. 8,000+ shares average around $4","html":"I bought in a long time ago and continue to try averaging down. 8,000+ shares average around $4","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0,"disclaimerType":0},{"id":216208096718872,"commentId":"216208096718872","gmtCreate":1693792366710,"gmtModify":1693792373876,"authorId":9000000000000488,"author":{"id":9000000000000488,"idStr":"9000000000000488","authorId":9000000000000488,"name":"MatthewWalter","avatar":"https://static.tigerbbs.com/673f24849e790c3aa318f19aa443d828","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":215312015380496,"objectIdStr":"215312015380496","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Seems like we will have another reverse split soon and I’m sure they have to do offering because they are running out of money","text":"Seems like we will have another reverse split soon and I’m sure they have to do offering because they are running out of money","html":"Seems like we will have another reverse split soon and I’m sure they have to do offering because they are running out of money","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0,"disclaimerType":0},{"id":216208521498648,"commentId":"216208521498648","gmtCreate":1693792470416,"gmtModify":1693792477939,"authorId":9000000000000513,"author":{"id":9000000000000513,"idStr":"9000000000000513","authorId":9000000000000513,"name":"LeilaLynch","avatar":"https://static.tigerbbs.com/e32612860d02f31ae6eb923f14c61b63","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":215312015380496,"objectIdStr":"215312015380496","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Not selling, at this point it can all be gone, about the same as selling right now. Sticking with it.","text":"Not selling, at this point it can all be gone, about the same as selling right now. Sticking with it.","html":"Not selling, at this point it can all be gone, about the same as selling right now. Sticking with it.","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0,"disclaimerType":0},{"id":216208228368472,"commentId":"216208228368472","gmtCreate":1693792304232,"gmtModify":1693792311798,"authorId":9000000000000733,"author":{"id":9000000000000733,"idStr":"9000000000000733","authorId":9000000000000733,"name":"littlesweetie","avatar":"https://static.tigerbbs.com/43a0aed7518f515997f95ed495391d65","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":215312015380496,"objectIdStr":"215312015380496","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"Is it crazy to invest in an unknown EV company to go against tesla and the other major manufacturers?","text":"Is it crazy to invest in an unknown EV company to go against tesla and the other major manufacturers?","html":"Is it crazy to invest in an unknown EV company to go against tesla and the other major manufacturers?","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0,"disclaimerType":0},{"id":216208762089496,"commentId":"216208762089496","gmtCreate":1693792529154,"gmtModify":1693792536653,"authorId":9000000000000600,"author":{"id":9000000000000600,"idStr":"9000000000000600","authorId":9000000000000600,"name":"EmilyMark","avatar":"https://static.tigerbbs.com/3e323dbbc6c94364b37b3a4181851cf0","vip":8,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":215312015380496,"objectIdStr":"215312015380496","type":1,"supId":0,"supIdStr":"0","prevId":0,"prevIdStr":"0","content":"I’m feeling down 😞 holding 30k shares at a 60 cent cost average and worried I’ll lose it all","text":"I’m feeling down 😞 holding 30k shares at a 60 cent cost average and worried I’ll lose it all","html":"I’m feeling down 😞 holding 30k shares at a 60 cent cost average and worried I’ll lose it all","likeSize":0,"commentSize":0,"subComments":[],"verified":10,"allocateAmount":0,"commentType":"valid","coins":0,"score":0,"disclaimerType":0}],"isCommentEnd":false,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/215312015380496"}