Mullen Automotive Inc (MULN) Options

Ouch! I better gamble on some other stocks, instead. Thank you.

I believe there were many comments made on this board that this was going to happen when he gave that company that $10M. The credit card thing is extra shady!


EV maker Bollinger Motors is broke and truck production has stopped, founder says in suit
Luke Ramseth
The Detroit News

Bollinger Motors Inc., a prominent Oak Park-based electric truck maker, appears to be in dire financial straits, according to a federal lawsuit filed against the company by its founder.

Robert Bollinger, who started the electric vehicle outfit in 2015 and served as CEO until last year, alleges his former company owes him about $10.5 million and wants a receiver to be appointed to manage and distribute the firm's remaining assets to creditors.

The lawsuit says the company is insolvent, has paused production of its vehicles, and is facing increasing legal pressure from suppliers.

Bollinger Motors, whose majority owner is Mullen Automotive Inc., started making an electric chassis cab truck called the B4 last year, and a larger version, the B5, was scheduled for release in 2026. Bollinger had largely self-financed the firm in 2015, with the original idea of selling boxy off-roading EVs, before transitioning to the commercial vehicle space.

The dispute centers on a $10 million loan Robert Bollinger made to the company last October with an interest rate of 15% per year. By February, the company had missed a $125,000 payment, the court papers say, and while the company eventually paid up earlier this month, the former CEO alleges it was "insufficient to cure" the terms of his loan.

In addition, Robert Bollinger says his former company has defaulted on about $500,000 in American Express credit card debt — and unbeknownst to him, the credit cards "were somehow guaranteed by Robert Bollinger, event though he was no longer employed by or served as a director of Bollinger Motors." This led to Robert Bollinger's personal credit card transactions being rejected, the suit states.

Production of Bollinger Motors vehicles, contracted to Roush Enterprises, is stopped, and the company is facing other lawsuits from a supplier and two other vendors, the court papers say, adding that the company "likely will be facing a deluge" of additional collections lawsuits. The complaint adds that the company has more than 40 trucks for sale worth about $135,000, together valued at more than $5 million. It also owns other vehicle production assets.

The lawsuit says oversight from a receiver is needed to manage, protect and eventually liquidate the company's assets since it otherwise has no way of paying back Robert Bollinger or others.

“Bollinger Motors is working through the process of addressing the allegations in the pending lawsuit," Bryan Chambers, CEO of Bollinger Motors, said in a statement. "Our goal is to quickly arrive at an outcome or resolution of this dispute and continue supplying a product that we believe is best-in-class. We cannot comment specifically on the allegations in the pending litigation.”

Robert Bollinger departed his CEO and board positions last summer. James Taylor, a former General Motors Co. executive, took over the CEO post, though he recently departed and Chambers, who previously served as chief operating officer for the company, now leads the firm.

Bollinger Motors is far from the first EV startup to face financial challenges. Several companies that emerged in recent years from a surge of customer interest and government support for battery-powered vehicles have ultimately faced operational problems or shuttered, such as Fisker, Lordstown Motors, Arrival and Canoo.

https://www.detroitnews.com/story/business/autos/2025/03/25/bollinger-motors-is-broke-and-production-has-stopped-founder-says-in-suit/82653733007/

Bollinger is already there. Robert B. is asking a court to appoint a receiver.

Fair enough, thanks.

Hi, I am a newbie here. My first post. Is MULN a good place to invest $1,000,000 ?


Thsnks

That isn't true - "Approximately 10% of public companies filing for Chapter 11 bankruptcy successfully emerge as going concerns. The majority either convert to Chapter 7 liquidation or face dismissal of their cases. While some companies may initially emerge as private entities after Chapter 11, only a small percentage (around 13%) emerge as public companies"

Mullen is already Balance Sheet insolvent.

In the last financial statement the the Losses from Operations was $51,435,232 and a net loss loss of $118,797,845.

IG

And there's still over a hundred vehicles parked at Randy's waiting for someone, anyone, to get them off the lot

Details, details

We don't need no stinking details

Yes, I can believe you think it is a wise move to purchase a fleet of vehicle for a business knowing the “manufacturer” is on the verge of bankruptcy.

Makes sense to me

Why not buy 2 fleets and prove to the world that the buyer is a person of conviction. Like Biden had Hertz do with their electric vehicle fleet no one wanted to rent. How’s that self inflicted bankruptcy coming along ?

downdraft
Re: None
Thursday, 04/17/2025 1:40:59 PM
If this Bollinger buyer is confident that he can receive full delivery of his 50 Bollinger trucks in a timely manner, especially since Bollinger announced they were in full production as of last fall, then this truck buyer might become a substantial buyer of the stock as well. Just a guess.

But it's good enough for me to take a starter for the fourth or fifth time in the past several years. I exited those positions before any reverse splits but I'm still in the hole several hundred dollars.

One way or another I'll get in near the low if/when this turns around

Until a company is forced into liquidation by court order, anything goes! Companies can be in reorganization for months or years.

Yeah, I don’t think his elevator goes to the top floor. He must have missed that little bit of information

I suspect that you missed the fact that they let all the workers off and the founder is trying to push them into bankruptcy. Bollinger....

I didn't forget anything. Thousands of companies go into chapter 11 reorganization and come out all ready to go, if this ends up going that route. Until the company is forced into liquidation, anything goes, up or down

BottomBounce, the deadline has passed to sign up for these lawsuits! Enough already!!!

$MULN Investors Have Opportunity to Lead Mullen Automotive, Inc. f/k/a Net Element, Inc. Securities Fraud Lawsuit https://www.morningstar.com/news/pr-newswire/20250403dc57285/muln-investors-have-opportunity-to-lead-mullen-automotive-inc-fka-net-element-inc-securities-fraud-lawsuit

$MULN MULN Investors Have the Opportunity to Lead the Mullen Automotive Securities Fraud Lawsuit with Faruqi & Faruqi, LLP https://www.morningstar.com/news/globe-newswire/9421358/muln-investors-have-the-opportunity-to-lead-the-mullen-automotive-securities-fraud-lawsuit-with-faruqi-faruqi-llp

$MULN INVESTOR ALERT: Pomerantz Law Firm Reminds Investors with Losses on their Investment in Mullen Automotive, Inc. of Class Action Lawsuit and Upcoming Deadlines - MULN https://www.prnewswire.com/news-releases/investor-alert-pomerantz-law-firm-reminds-investors-with-losses-on-their-investment-in-mullen-automotive-inc-of-class-action-lawsuit-and-upcoming-deadlines---muln-302428076.html

I suspect that you missed the fact that they let all the workers off and the founder is trying to push them into bankruptcy. Bollinger....

If this Bollinger buyer is confident that he can receive full delivery of his 50 Bollinger trucks in a timely manner, especially since Bollinger announced they were in full production as of last fall, then this truck buyer might become a substantial buyer of the stock as well. Just a guess.

But it's good enough for me to take a starter for the fourth or fifth time in the past several years. I exited those positions before any reverse splits but I'm still in the hole several hundred dollars.

One way or another I'll get in near the low if/when this turns around.

The idiot buyers

Might be Jack

MULN, new 52 week low

MULN, new 52 week low

Is anyone NOT shorting MULN?

But, but, but they delivered a veehucle as per today's pr.

Doesn't mention if they plan to get paid for it, but it was delivered!

Yeah - and then another reverse stock split. Hey - WHY NOT?

.99 by 2pm??

RNAZ will be producing those in jail for fraud with all of MULN executives

a few day ago the market of mullen was worth 80:000 and now 678513, are there more shares dumpt in the market!!!!🤮

Especially knowing they were averaging down!

Yeah - and just think how the people who paid over $4.00 per share for MULN just a few DAYS ago are feeling today - OUCH!!

Davie boyo likes to be at the forefront of innovation

Less than ten (10) days. ago the stock price of MULN was over $4.00 per share. I've never seen the stock price of any stock fall so far down in such a short period of time - just totally UNBELIEVABLE!!

Wouldn't it be cool if MULN would make these instead? No battery or component issues.

Dave probably took the seats out of the prototype and put them in his living room giving it that "Mullen One RS" feel. It brings him back to that drive-in theater feeling way back when.

They still have a hundred or so parked at Randy's.

They may be rusting out but could make ideal garden sheds

I think they sold the trailer that hauled the car show around the US. I know it was for sale a few months ago

No worries Uber! You can still go to MULN car shows and sit in the prototype to get your Mullen One fix. I still think it's hilarious dave named a car the Mullen One RS.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173531491

SEC T-12 halt this dilution scam so Michery can't dump the rest of his paper and file for R/S #7

Does this mean I probably won’t get my new Mullen ONE ? Damn, I wanted to get my own 8k for the DeathStar

Great job dave! A perfect score if my memory serves correct. A 52 week low every week for 52 weeks. The 52 week chart is a thing of beauty for a downhill skiing enthusiast as myself. The 52 week chart also serves as a great reminder to make my reservations a year in advance for downhill skiing Mammoth mountain next spring. As an added bonus I can get out my paint set and paint a beautiful slalom ski run and put it on my living room wall. The MULN 52 week chart has soooo many different purposes. You can also roll it up an hit someone over the head with it if they even think about investing in MULN. Or you can fold up the 52 week chart in diagonals and play flicker football with it. So many uses...so little time. Thanks again dave, you're a toxic lenders bff. Now back to my reading.

MULN, new 52 week low

Couldn't agree with you more.

I scratch my head every day on the stock.
Needs to be halted.

Yes, it really is. Embarrassing.

didn't take long last r/s...and that started at 18 bux....this r/s 3.60...how the nasdaq /DOJ/sec don't shut this fraud down is mind blowing

Yes indeed. Michery seems to have done well...

It isn't taking long at all this time. MULN will be under a dollar again in no time.

Why is this not against the Law with a few people on their way to jail? So glad I stayed away and dodge a bullet

3.5mil volume - great tax write offs!!

There are still a lot of stupid people out there who just never learn. Sad.

I don't understand that there is still a trading in Mulln. Trading needs a seller and a buyer, but who is buying this stock voluntarily ?