Mullen Automotive CEO Responds to Fox Business Question
Mullen Response: The Condensed Consolidated Statements of Operations contains both cash and non-cash expenditures in total operating expenses. For the three months ended June 30, 2023, we incurred $7.8 million of non-cash expenses including: $6.6 million of non-cash charge for warrants provided to Qiantu.$4.1 million in stock-based compensation to employees and consultants.$2.5 million in depreciation and amortization. million in increased working capital as we move into production of our commercial vehicles. Pursuant to the Condensed Consolidated Statements of Cash Flows, we spent $46.1 million in operating expenses as compared to the $53.9 million of Total Operating Expenses reported on the Condensed Consolidated Statement of Operations: Three Months Ending June 30, 2023 Operating Activities: $ millionInvesting Activities: $ millionFinancing Activities: $196.8 million Please refer to our press release related to our quarterly third quarter results, issued Aug. 14, 2023, for