Even with a strong balance sheet...why is it that the value of stocks keep dropping... this news only make the value drop more and more
Mullen Automotive CEO Responds to Fox Business Question
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
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