A Recent Look at Mullen
I've spent the evening reviewing the recent Prospectus, filed October 27, 2023.
The first issue to address is the increase in total outstanding shares.
![A Recent Look at Mullen](https://sgsnsimg.moomoo.com/feed_image/102303692/f43668eb68d83cddb321baf6d94f506d.jpg/bigmoo)
The outstanding shares have more than tripled in only two months.
![A Recent Look at Mullen](https://sgsnsimg.moomoo.com/feed_image/102303692/7fa27b75e4fb374d8d01349a03e37396.png/bigmoo)
Mullen receives no proceeds from this recent dilution of 103M shares and is at the mercy of the warrant holders.
![A Recent Look at Mullen](https://sgsnsimg.moomoo.com/feed_image/102303692/2f2580cc8a5437c1890f54d78ca3de6a.jpg/bigmoo)
83% of the newly issued shares are available for warrant holders to exercise at any time.
![A Recent Look at Mullen](https://sgsnsimg.moomoo.com/feed_image/102303692/7a968a7fd9fd3d0c81a70c2d67de7437.jpg/bigmoo)
Legally covering themselves and warning investors who read the filings that the stock is at risk for "substantial diminution".
![A Recent Look at Mullen](https://sgsnsimg.moomoo.com/feed_image/102303692/76aab351937d3b3697ac5837e5ceb62c.jpg/bigmoo)
Shareholders are unable to vote on if any members of the Board of Directors retain their seat.
![A Recent Look at Mullen](https://sgsnsimg.moomoo.com/feed_image/102303692/fa73cde685263fd59a17ad659cd31622.jpg/bigmoo)
Mullen is authorized to issue an additional 5 Billion shares, if need be.
Please be educated on your investment.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Mullen Fact Checker OP : One last image I forgot to provide.
66510235 : What does this mean? Do you want to sell it?
Mullen Fact Checker OP 66510235 : I have tried to explain the details as simply as possible, but perhaps this analogy will help:
Imagine you spent the afternoon making a 1 liter pot of soup. Someone comes along and dumps 2 liters of water into it, diluting all your hard work and flavor. Then after dumping water in it, making a total of 3 liters, that person then steals 2 liters of the soup. Now you're left with a bland, boring soup that once tasted good.
Would you still like the person who dumped water into it?
SpyderCall : Very good post!
Spread the good word. There are so many scams/quasi ponzi schemes in the stock market.