BREA, California, September 25, 2017 – Mullen Technologies Inc. announced the filing today for another round of funding for its’ all-electric sedan, the Mullen 700e. The $500 million Regulation D is the second round of funding, succeeding Mullen’s initial $50 million registration for seed capital, asset acquisition and operation development.
“Mullen is now in the pre-manufacturing stage in the continued growth of the company and implementation of the battery technology”, stated David Michery, CEO of Mullen. “Mullen has now had a fourth increase in share price, which started three years ago at $0.20 per share, but currently sits at $5.00 per share for the time being.”
Mullen is actively raising capital to facilitate the manufacturing and facility development for manufacturing the all-new 2018 700e in the southwestern US. A battery manufacturing facility for newly acquired battery technology is also being planned for the same geographical area.
About Mullen Technologies:
Mullen Technologies, Inc. is a California based pre-IPO Electric Vehicle (EV) manufacturer and international distributor of high tech, zero emission vehicles. The Company aims at solving the significant environmental problem caused by gasoline powered vehicles and providing a variety of affordable, electric cars to the American market and the entire world market. Currently, the Company manufactures a proprietary USDOT certified four door electric sedan. The company is in negotiations with several international vehicle manufacturers to develop joint ventures to bring quality, cost effective vehicles to the United States for certification and distribution.
Mullen Technologies, Inc. is committed to not only low cost, high quality product, but to being a fiscally responsible organization that values good business sense and refuses to spend indiscriminately or irresponsibly.
Safe Harbor for Forward-Looking Statement
This press release contains forward-looking statements. Forward looking statements in this press release include statements relating to the Company’s corporate finance and other strategic initiatives, and the Company’s expansion into markets outside of the golf industry. Forward-looking statements are inherently subject to risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, including, without limitation, the following: the timing and nature of any capital raising transactions; our ability to offer products and services for use by customers in new markets outside of the golf industry; the risk of competition; our ability to find, recruit and retain personnel with knowledge and experience in selling products and services in these new markets; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Current Report on Form 8-K filed with the Securities and Exchange Commission on May 12, 2015. Forward-looking statements are made as of the date of this release, and we expressly disclaim any obligation or undertaking to update forward-looking statements.
For information please contact:
Mullen Technologies, Inc.