Mullen Q2 rev $5M, net loss $47M; Bollinger Motors in receivership

BOLLINGER INNOVATIONS, INC.

Q2 2025 revenue $5.0M vs $33K YoY; net loss attributable to common $47.1M vs $132.5M.
Bollinger Motors placed into court-appointed receivership on May 7, 2025; Mullen exploring options.
Cash and restricted cash $2.3M at March 31, 2025; working capital negative $156.1M.
Cash spend for 6 months fell 56.6% to $52.4M from $120.9M prior year.
Non-cash expenses accounted for 73% of six-month net loss; revenue $7.9M for H1.

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