MULLEN AUTOMOTIVE INC
For the period ended Sep 30, 2024. Filed Jan 24, 2025.
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FY2024 · Filed Jan 24, 2025
BINI$0.07+75.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets at September 30, 2024, and 2023
CONSOLIDATED BALANCE SHEETS
| September 30, 2024 | September 30, 2023 | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash and cash equivalents | $10,321,827 | $155,267,098 |
| Restricted cash | 426,851 | 429,372 |
| Inventory | 37,503,112 | 16,807,013 |
| Prepaid expenses and prepaid inventories | 14,798,553 | 24,955,223 |
| Accounts receivable | 124,295 | 671,750 |
| TOTAL CURRENT ASSETS | 63,174,638 | 198,130,456 |
| Property, plant, and equipment, net | 82,180,266 | 82,032,785 |
| Intangible assets, net | 27,056,030 | 104,235,249 |
| Right-of-use assets | 3,041,485 | 5,249,417 |
| Related party receivable | — | 2,250,489 |
| Goodwill, net | — | 28,846,832 |
| Other noncurrent assets | 3,178,870 | 960,502 |
| TOTAL ASSETS | $178,631,289 | $421,705,730 |
| LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | ||
| CURRENT LIABILITIES | ||
| Accounts payable | $41,335,509 | $13,175,504 |
| Accrued expenses and other current liabilities | 51,612,166 | 41,610,788 |
| Derivative liabilities | 79,742,180 | 64,863,309 |
| Liability to issue shares | 1,771,025 | 9,935,950 |
| Lease liabilities, current portion | 2,893,967 | 2,134,494 |
| Notes payable | 5,399,777 | 7,461,492 |
| Refundable deposits | 417,674 | 429,372 |
| TOTAL CURRENT LIABILITIES | 183,172,298 | 139,610,909 |
| Liability to issue shares, net of current portion | 356,206 | 1,827,889 |
| Lease liabilities, net of current portion | 11,648,662 | 3,566,922 |
| Deferred tax liability | — | 3,891,900 |
| TOTAL LIABILITIES | $195,177,166 | $148,897,620 |
| Contingencies and claims (Note 19) | ||
| STOCKHOLDERS' EQUITY (DEFICIT) | ||
| Preferred stock; $0.001 par value; 126,263,159 and 127,474,458 shares authorized at September 30, 2024 and 2023, respectively; | ||
| Preferred Series D; 84,572,538 shares authorized, 363,097 shares issued and outstanding at September 30, 2024 and 2023, respectively (preference in liquidation of $159,000 at September 30, 2024 and 2023) | 363 | 363 |
| Preferred Series C; 24,874,079 and 26,085,378 shares authorized at September 30, 2024 and 2023, respectively; 458 and 1,211,757 shares issued and outstanding at September 30, 2024 and 2023, respectively (preference in liquidation of $4,049 and $10,696,895 at September 30, 2024 and 2023, respectively) | — | 1,212 |
| Preferred Series A; 83,859 shares authorized; 648 shares issued and outstanding at September 30, 2024 and 2023 (preference in liquidation of $836 at September 30, 2024 and 2023) | 1 | 1 |
| Common stock; $0.001 par value; 5,000,000,000 shares authorized; 4,577,306 and 28,718 shares issued and outstanding at September 30, 2024 and 2023 respectively (*) | 4,577 | 29 |
| Additional paid-in capital (*) | 2,290,659,971 | 2,071,112,969 |
| Accumulated deficit | (2,319,220,938) | (1,862,162,037) |
| TOTAL STOCKHOLDERS' EQUITY (DEFICIT) ATTRIBUTABLE TO THE COMPANY'S STOCKHOLDERS | (28,556,026) | 208,952,537 |
| Noncontrolling interest | 12,010,149 | 63,855,573 |
| TOTAL STOCKHOLDERS' EQUITY (DEFICIT) | (16,545,877) | 272,808,110 |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $178,631,289 | $421,705,730 |
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