Mullen reports net loss of $289.9M for 9 months; cash drops to $4M from $155.7M

BOLLINGER INNOVATIONS, INC.

2024-Q3 EPS reported -$37.92 revenue$98,570

Net loss attributable to common shareholders $289.9M ($37.92/share) for 9 months ended June 30, 2024, vs $792.7M ($5,544.35/share) prior year.
Cash and equivalents fell to $4.0M from $155.7M; working capital turned negative $59.0M.
Revenue deferred: 377 vehicles invoiced at $16.8M but revenue only $98,570 due to deferral until dealer sale.
Non-cash impairment charges of $105.5M recorded in prior quarter; total assets $192M, stockholders' equity $53M.
Subsequent to quarter-end, $39.5M in convertible notes sold for $37.5M cash; $250M total financing committed.

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