MULLEN AUTOMOTIVE INC

For the period ended Sep 30, 2023. Filed Jan 17, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Jan 17, 2024

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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Contents

Consolidated Balance Sheets at September 30, 2023, and 2022

CONSOLIDATED BALANCE SHEETS


· · September 30,
· · 2023 · 2022
ASSETS · · ·
CURRENT ASSETS · · ·
Cash and cash equivalents	$155,267,098	$54,085,685
Restricted cash	429,372	30,289,400
Accounts receivable	671,750	—
Inventory	16,807,013	—
Prepaid expenses and other current assets	24,955,223	1,958,759
TOTAL CURRENT ASSETS	198,130,456	86,333,844
Property, plant, and equipment, net	82,032,785	14,803,716
Intangible assets, net	104,235,249	93,947,018
Deposit on ELMS assets purchase	—	5,500,000
Related party receivable	2,250,489	1,232,387
Right-of-use assets	5,249,417	4,597,052
Goodwill, net	28,846,832	92,834,832
Other non-current assets	960,502	3,345,631
TOTAL ASSETS	$421,705,730	$302,594,479

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable	$13,175,504	$6,109,425
Accrued expenses and other current liabilities	41,201,929	7,185,881
Dividends payable	401,859	7,762,255
Derivative liabilities	64,863,309	84,799,179
Liability to issue shares	9,935,950	10,710,000
Lease liabilities, current portion	2,134,494	1,428,474
Notes payable, current portion	7,461,492	3,856,497
Refundable deposits	429,372	289,000
Other current liabilities	7,000	90,372
TOTAL CURRENT LIABILITIES	139,610,909	122,231,083
Notes payable, net of current portion	—	5,164,552
Liability to issue shares, net of current portion	1,827,889	—
Lease liabilities, net of current portion	3,566,922	3,359,354
Deferred tax liability	3,891,900	14,882,782
TOTAL LIABILITIES	148,897,620	145,637,771
Commitments and Contingencies (Note 19)

STOCKHOLDERS' EQUITY
Preferred stock; $0.001 par value; 500,000,000 preferred shares authorized;
Preferred Series D; 437,500,001 shares authorized; 363,097 and 4,359,652 shares issued and outstanding at September 30, 2023 and September 30, 2022, respectively (preference in liquidation of $159,000 and $1,909,091 at September 30, 2023 and 2022, respectively)	363	4,359
Preferred Series C; 40,000,000 shares authorized; 1,211,757 and 1,360,321 shares issued and outstanding at September 30, 2023 and September 30, 2022, respectively (preference in liquidation of $10,696,895 and $12,025,238 at September 30, 2023 and 2022, respectively)	1,212	1,360

Preferred Series A; 200,000 shares authorized; 648 and 1,924 shares issued and outstanding at September 30, 2023 and September 30, 2022, respectively (preference in liquidation of $836 and $2,482 at September 30, 2023 and 2022, respectively)	1	2
Common stock; $0.001 par value; 5,000,000,000 and 1,750,000,000 shares authorized at September 30, 2023 and September 30, 2022, respectively; 2,871,707 and 37,043 shares issued and outstanding at September 30, 2023 and 2022 respectively (*)	2,872	37
Additional paid-in capital (*)	2,071,110,126	948,598,587
Accumulated deficit	(1,862,162,037)	(889,907,455)
TOTAL STOCKHOLDERS' EQUITY ATTRIBUTABLE TO THE COMPANY'S STOCKHOLDERS	208,952,537	58,696,890
Noncontrolling interest	63,855,573	98,259,819
TOTAL STOCKHOLDERS' EQUITY	272,808,110	156,956,709
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$421,705,730	$302,594,479
(*) Adjusted retroactively for reverse stock splits, see Note 1

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.