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Mullen Automotive | 8-K: Announcing Certain Preliminary Financial Results for the Fiscal Quarter Ended September 30, 2024

Mullen Automotive | 8-K: Announcing Certain Preliminary Financial Results for the Fiscal Quarter Ended September 30, 2024

Mullen Automotive | 8-K:截至2024年9月30日的财季的某些初步财务业绩
美股SEC公告 ·  2024/10/03 05:19

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Mullen Automotive expects to report $4.5 million in revenue for Q4 ended September 30, 2024, marking a 6,791% increase from $65,235 in Q3 2024. The company has significantly improved operational efficiency, reducing monthly cash burn to $12.7 million in Q4 from $18.1 million in Q1 2024, representing a 30% decrease.The company has secured $11.9 million from investors and anticipates an additional $600,000, representing 25% of their additional investment right. Mullen also maintains access to a $150 million equity line for common stock offerings, subject to market conditions. The company aims to achieve cash flow break-even by December 2025 through continued operational cost reductions.Recent developments include receiving IRS approval for federal EV tax credits up to $7,500 per vehicle, CARB and EPA certification for Mullen ONE and THREE models, and expansion of its commercial dealer network to seven dealers. The company's Tunica, Mississippi manufacturing facility has obtained Foreign Trade Zone status, offering benefits including duty deferment and elimination on exported vehicles.
Mullen Automotive expects to report $4.5 million in revenue for Q4 ended September 30, 2024, marking a 6,791% increase from $65,235 in Q3 2024. The company has significantly improved operational efficiency, reducing monthly cash burn to $12.7 million in Q4 from $18.1 million in Q1 2024, representing a 30% decrease.The company has secured $11.9 million from investors and anticipates an additional $600,000, representing 25% of their additional investment right. Mullen also maintains access to a $150 million equity line for common stock offerings, subject to market conditions. The company aims to achieve cash flow break-even by December 2025 through continued operational cost reductions.Recent developments include receiving IRS approval for federal EV tax credits up to $7,500 per vehicle, CARB and EPA certification for Mullen ONE and THREE models, and expansion of its commercial dealer network to seven dealers. The company's Tunica, Mississippi manufacturing facility has obtained Foreign Trade Zone status, offering benefits including duty deferment and elimination on exported vehicles.
穆伦汽车预计在截至2024年9月30日的第四季度报告营业收入450万美元,较2024年第三季度的65,235美元增长了6791%。该公司显著提高了运营效率,将第四季度的月现金烧损减少到1270万美元,低于2024年第一季度的1810万美元,减少了30%。该公司已从投资者那里获得1190万美元,并预计将获得额外60万美元,这代表了其额外投资权的25%。穆伦还保持获取15000万美元普通股股票发行的股权融资额度,具体情况取决于市场条件。公司旨在通过持续降低运营成本到2025年12月实现现金流收支平衡。最近的进展包括获得国税局批准,允许每辆电动车享受高达7500美元的联邦电动车税收抵免,穆伦ONE和THREE车型获得CARb和EPA认证,以及扩大其商业经销商网络,增加到七家经销商。该公司位于密西西比州图尼卡的制造设施已获得外贸区地位,提供包括延期缴纳关税和免除出口车辆关税的好处。
穆伦汽车预计在截至2024年9月30日的第四季度报告营业收入450万美元,较2024年第三季度的65,235美元增长了6791%。该公司显著提高了运营效率,将第四季度的月现金烧损减少到1270万美元,低于2024年第一季度的1810万美元,减少了30%。该公司已从投资者那里获得1190万美元,并预计将获得额外60万美元,这代表了其额外投资权的25%。穆伦还保持获取15000万美元普通股股票发行的股权融资额度,具体情况取决于市场条件。公司旨在通过持续降低运营成本到2025年12月实现现金流收支平衡。最近的进展包括获得国税局批准,允许每辆电动车享受高达7500美元的联邦电动车税收抵免,穆伦ONE和THREE车型获得CARb和EPA认证,以及扩大其商业经销商网络,增加到七家经销商。该公司位于密西西比州图尼卡的制造设施已获得外贸区地位,提供包括延期缴纳关税和免除出口车辆关税的好处。
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