(NASDAQ:MULN) another favorite of traders is up almost 25% on second quarter results.

(NASDAQ:MULN) another favorite of traders is up almost 25% on second quarter results.

Mullen Reports Preliminary Summary of Financial Results for Second Quarter

GlobeNewswire   “Press Releases”

  • Q/Q cash and cash equivalents rose to +$65.2M, driven primarily by the issuance of Mullens Series C Preferred Stock at $8.84/share
  • Notes payable, current portion fell approximately -10.8% Q/Q to $16.9M
  • Total assets rose approximately 138.4% to slightly over +$100M, driven mainly by financing activities
  • Stockholders equity rose favorably Q/Q from a deficit of -$10.5M to a surplus of +$52.6M
  • Subsequent to the period ended March 31, 2022, Mullen Automotive Inc. entered into an agreement with Thurner Design to develop the Mullen FIVE RS, a high-performance EV sport crossover vehicle featuring close to 1,100 HP, 0-60 mph in 1.95 seconds, and a top speed of 200 mph
  • Between late April and early May 2022 Mullen Automotive received an aggregate of $15M from the exercise of the CEOcast equity line of credit in exchange for warrants to acquire common stock. CEOcast has exercised its warrants for 12.7M common shares extinguishing this credit facility.

BREA, Calif., May 13, 2022 (GLOBE NEWSWIRE) — via InvestorWire — Mullen Automotive Inc. (NASDAQ: MULN) (Mullen or the Company), an emerging electric vehicle (EV) manufacturer, announces today preliminary financial results (subject to change) for its period ending March 31, 2022.


NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.