Wednesday, May 7, 2025

Latest

Mullen Automotive Delays 10-K Filing, Blaming Bollinger, ELMS Valuation Calculations

Mullen Automotive (NASDAQ: MULN) has formally filed for a delay in submitting its Form 10-K to the Securities and Exchange Commission.

The filing, made on Friday, notes that as a result of its acquisition from Bollinger Motors and ELMS it is “in the process of completing valuations related to the assets,” which caused the delay in the filing. The company has stated the required filings will be made within the allotted fifteen-day extension period.

The reference to both Bollinger and ELMS, short for Electric Last Mile Solutions, asset values, suggests that write-downs are coming for the full year financial results.

READ: Mullen Automotive Drops Short Selling Claims, Launches Spoofing Lawsuit

Mullen acquired a 60% majority stake in September 2022, while it fully acquired the ELMS assets in November 2022. At the time, Mullen paid $148.2 million for its interest in Bollinger, and months later paid $105 million for the ELMS assets.

Mullen Automotive last traded at $14.29 on the Nasdaq, following a 1-for-100 reverse split that was carried out December 21.


Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

Giant Mining Encounters Native Copper As Hole MHB-34 Hits 563 Metres Depth

Verses Hits Commercialization Stage With Genius AI Platform

Related News

Mullen Automotive Closes On Purchase Of Electric Last Mile Solutions For $105 Million

Mullen Automotive (NASDAQ: MULN) is forging ahead with its plans to become the latest electric...

Thursday, December 1, 2022, 08:59:18 AM

Mullen Automotive To Conduct 1 For 25 Reverse Split On May 4

Mullen Automotive (NASDAQ: MULN) is about to have a lot less shares outstanding. The firm...

Wednesday, May 3, 2023, 04:03:14 PM

Mullen Automative Files Complaint Against GEM Global Alleging Violation of Securities Laws

Mullen Automotive (NASDAQ: MULN) has filed a complaint against GEM Global, alleging violations of the...

Tuesday, January 2, 2024, 02:18:00 PM

Mullen Automotive Requests Hearing To Stave Off Nasdaq Delisting A While Longer

Mullen Automotive (NASDAQ: MULN) is on its last gasp of air when it comes to...

Thursday, September 7, 2023, 08:34:40 AM

Mullen Automotive To Cut $170 Million In Costs Amid Weak EV Market

Mullen Automotive (NASDAQ: MULN) is set to dramatically cut its operations over the next twelve...

Monday, April 8, 2024, 09:06:08 AM