Summary by Moomoo AI
Mullen Automotive Inc. has notified the SEC of a delay in filing its Annual Report on Form 10-K for the fiscal year ended September 30, 2023. The company is currently finalizing asset valuations following acquisitions from Bollinger & ELMS and expects to complete this process within the fifteen-day extension period allowed under Rule 12b-25 of the Securities Exchange Act of 1934. Mullen Automotive's Chief Financial Officer, Jonathan New, has indicated that the delay in filing is due to the time required to complete these valuations, which are necessary for the preparation of consolidated financial statements. The company anticipates a significant change in results of operations from the previous fiscal year, which will be disclosed once the valuations and financial statements are finalized. The company has confirmed that all other periodic reports have been filed and that the change in asset valuation will not affect its cash position or utilization.