---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-25-003815"
form_type: "8-K"
ticker: "BINI"
cik: "0001499961"
company_name: "BOLLINGER INNOVATIONS, INC."
filed_at: "2025-05-20T23:59:59+00:00"
generated_at: "2026-05-20T23:54:20.309586+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001829126-25-003815
- form_type: 8-K
- ticker: BINI
- cik: 0001499961
- company_name: BOLLINGER INNOVATIONS, INC.
- filed_at: 2025-05-20T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1499961/000182912625003815/0001829126-25-003815-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1499961/000182912625003815/mullenautomotive_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-25-003815
- JSON: https://secwatch.observer/filing/0001829126-25-003815.json
- Plain text: https://secwatch.observer/filing/0001829126-25-003815.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.