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Mullen Automotive | 8-K/A: Mullen Automotive Inc. Issued a Press Release Announcing Financial Results for the Quarter Ended December 31, 2023

SEC announcement · Feb 13 16:57

MULN -3.97%

Summary by Moomoo AI

On February 13, 2024, Mullen Automotive Inc., a Delaware-incorporated electric vehicle manufacturer listed on NASDAQ under the symbol MULN, reported its financial results for the quarter ending December 31, 2023. The company announced this was the strongest fiscal quarter in its history, with a significant reduction in net loss attributable to common stockholders after preferred dividends from $376.9 million in the previous year to $61.4 million. The company delivered 231 vehicles during the quarter, compared to 35 vehicles in the same period the previous year. Mullen Automotive also highlighted corrections to its previously issued financial statements, including adjustments to deferred income taxes and non-cash activities related to warrant exercises. Despite these corrections, the reported results for the first quarter of 2024 remained unchanged, including stockholder's equity and liquidity. The company also provided updates on its operational milestones, such as achieving compliance with NASDAQ's minimum bid price requirement, receiving various certifications for its Class 1 and Class 3 vehicles, and opening a battery module and pack development facility in Fullerton, California. Mullen Automotive's CEO, David Michery, expressed optimism about the company's strategic focus on commercial electric vehicles and its progress in vehicle production and delivery.

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