Breaking #EV #Stock News: Mullen Automotive (NASDAQ: $MULN) Announces Elimination of Approximately $13 Million in Debt, with Less than $10 Million of Debt Remaining; @Mullen_USA

Breaking #EV #Stock News: Mullen Automotive (NASDAQ: $MULN) Announces Elimination of Approximately $13 Million in Debt, with Less than $10 Million of Debt Remaining; @Mullen_USA

 

Conversion to save Company more than $3.5 million in interest expense and eliminate debt service obligations, further improving overall financial health

 

BREA, Calif. - November 2, 2022 (Investorideas.com Newswire) Mullen Automotive, Inc. (NASDAQ: MULN) ("Mullen" or the "Company"), an emerging electric vehicle ("EV") manufacturer, announces today that it has eliminated $13 million in company debt and has reduced its overall indebtedness from more than $30 million last year to a current estimate of less than $10 million.

 

Read this news, featuring MULN in full at https://www.investorideas.com/CO/MULN/news/2022/11021Debt-Elimination.asp

 

Mullen continues to strengthen its financial balance sheet with the recent elimination of approximately $13 million dollars in company debt, which was associated with a debt obligation to Esousa Holdings, LLC. It is anticipated that this debt conversion will save the Company more than $3.5 million in interest expenses.

 

Mullen continues to maintain its good financial health, with now less than an estimated $10 million approximately left of outstanding indebtedness. This elimination of and reduction in debt is significant, considering the overall debt balance at the end of 2021 was over $30 million.

 

"It's been a great year for Mullen Automotive; we've made tremendous strides on all fronts, including significantly improving our financial health," said David Michery, CEO and chairman of Mullen Automotive. "Continuing our goal of being debt-free is a main focus and provides us with a strong path forward for our EV innovation and programs, securing investor confidence and overall company health."

 

About Mullen:

Mullen Automotive is a Southern California-based automotive company building the next generation of premium electric vehicles ("EVs") that are affordable and built entirely in the United States. With an end-to-end ecosystem that supports owners from test driving to financing and servicing through a unique hybrid dealership model, customers are supported through every aspect of EV ownership. The Mullen FIVE, the Company's first electric crossover, is slated for delivery in 2024 and features an award-winning design and its patented PERSONA technology that utilizes facial recognition to personalize the driving experience for every individual. To learn more about the company, visit www.MullenUSA.com.

 

Forward-Looking Statements

Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential" and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and are difficult to predict. Examples of such risks and uncertainties include but are not limited to the actual amount of the total remaining debt on the Company's balance sheet, whether the stock conversion that reduced the indebtedness will prove beneficial to the Company, whether Mullen's good financial health will continue and whether the Company will be successful in its efforts to strengthen its financial balance sheet. Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen's ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen's ability to successfully expand in existing markets and enter new markets; (iv) Mullen's ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Mullen's business; (viii) changes in government licensing and regulation that may adversely affect Mullen's business; (ix) the risk that changes in consumer behavior could adversely affect Mullen's business; (x) Mullen's ability to protect its intellectual property; and (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K filed by Mullen with the Securities and Exchange Commission. Mullen anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Mullen assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen's plans and expectations as of any subsequent date.

 

Contact:

Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com

 

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Breaking #AI #Stock News: Intellagents, a FatBrain AI (OTCQB: $LZGI) Company, Announces Hiring of Insurtech Industry Veteran as Chief Revenue Officer; @Fatbrainai #artificialintelligence

Breaking #AI #Stock News: Intellagents, a FatBrain AI (OTCQB: $LZGI) Company, Announces Hiring of Insurtech Industry Veteran as Chief Revenue Officer; @Fatbrainai #artificialintelligence

 

NEW YORK, NY - November 2, 2022 (Investorideas.com Newswire) FatBrain AI (LZG International, Inc.) (OTCQB: LZGI), the leader in powerful and easy-to-use artificial intelligence (AI) solutions for star enterprises of tomorrow, announces the hiring of Euan King, an experienced and respected Insurtech industry leader as Chief Revenue Officer for insurance technology-focused subsidiary Intellagents.

 

Read this news, featuring LZGI in full at https://www.investorideas.com/CO/LZGI/news/2022/11021Intellagents-Chief-Revenue-Officer.asp

 

King will be responsible for leading Intellagents in its next phase of growth and oversee all sales, strategic partnership efforts and customer experience.

 

For nearly 40 years King has worked in technology, primarily insurance software and services. He has extensive leadership experience working for global organizations including IBM (NYSE: IBM), the Innovation Group, Instanda US, and most recently Sapiens Americas (NASDAQ: SPNS) where he was Chief Business Officer responsible for the growth and expansion of the Americas organization. He is also a board member of Charlee.ai, an AI platform providing deep insights and predictions into claims.

 

King's career spans sales, marketing, business development, professional services, operations and executive management together with the experience of working in the US, Canada, UK, Europe and South Africa.

 

"The Intellagents platform enables our clients to access a comprehensive ecosystem enabling rapid innovation and growth with a simple, self-service experience to harness the power of data and AI," said Mark Stender, CEO and co-founder of Intellagents. "With Euan's network and experience, we'll bring the power of many 'best-in-class' insurance capabilities connected together, each continuously learning to improve individual performance, to the overall insurance marketplace."

 

"I am highly energized to join Intellagents and return to the cutting edge of Insurtech enabling the gap between the disparate parts of the insurance value chain to be bridged using our cloud platform" said Euan King.

 

"The FatBrain and Intellagents combination empowers businesses, brokers and insurers to leverage Peer Intelligence technologies to optimize transactions, score risk, enhance productivity and simplify actionable insights for everyone across the insurance supply chain creating never-seen-before opportunities for growth," said Shawn Carey, chief operating officer at FatBrain AI and co-founder, CTO-emeritus at iPipeline, a Roper Technologies, Inc. (NYSE: ROP) company.

 

"We are excited to welcome Euan into the family," said Peter B. Ritz, co-founder and CEO of FatBrain. "With his network and experience, we'll bring Intellagents innovations and powerful automation to advance dynamic peer intelligence networks, currently only used by large industry leaders, to many more businesses across the board, leveling the technology playing field."

 

This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on September 13, 2022. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are based entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

 

About LZG International, Inc. (FatBrain AI) (OTCQB:LZGI): FatBrain AI provides powerful and easy-to-use AI solutions to empower the star enterprises of tomorrow (aka mSMEs) to grow, innovate, and drive the majority of the global economy. FatBrain's AI 2.0 technologies and advanced data services transform continuous learning, narrative reasoning, cloud and blockchain technologies into auditable, explainable and easy to integrate AI solutions. FatBrain's subscription model allows all companies to deploy its advanced AI solutions quickly and easily, securely utilizing them on premises behind their firewalls or via cloud. FatBrain's global footprint includes design and development centers in the US, India, Kazakhstan and the UK.

 

For more information, please visit: https://www.fatbrain.ai

 

About Intellagents, LLC:

Intellagents, LLC was formed in 2018 and has been solving insurers challenges in production flawlessly since 2019. Intellagents was founded on the principle that digital transformation requires significant improvements to an insurer's systems portfolio and that many gaps will need to be filled with AI and new innovations created by 3rd parties. Intellagents has built over 60+ connectors using unique integration and automation technologies to improve speed, personalization and agility.

 

For more information, please visit: https://www.Intellagents.com

 

Media Inquiries:

Dennis Carey
dennis.carey@fatbrain.ai

 

SOURCE: FatBrain AI

 

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure. LZG International Inc is a paid featured AI stock: news and social media publishing. More details

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#CryptoCorner #Podcast 896: #Stocks discussed: (NasdaqGM: $BITF) (NasdaqCM: $CLSK) (NasdaqCM: $DGHI)

 

 

 

#CryptoCorner #Podcast 896: #Stocks discussed: (NasdaqGM: $BITF) (NasdaqCM: $CLSK) (NasdaqCM: $DGHI)

 

CleanSpark Acquires 3,843 New BTC Miners, Bitfarms and Digihost Post October Results

 

Vancouver, Kelowna, Delta, BC November 1, 2022 -  Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.

 

The Investor ideas Crypto Corner was named one of 14 Best Crypto & Blockchain Podcasts for Jun 2022: https://www.yoreoyster.com/blog/best-crypto-podcasts/

 

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https://www.investorideas.com/Audio/Podcasts/2022/110122-CryptoMarket.mp3

 

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Stocks discussed: (NasdaqGM:BITF) (NasdaqCM:CLSK) (NasdaqCM:DGHI)

 

Bitfarms Ltd. (NasdaqGM:BITF) has posted its Bitcoin (BTC) production and mining operations update for October 2022. Highlights include the mining of 486 new BTC, and an average online hashrate capacity of 4.2 EH/s for the month. Geoff Morphy, the company’s President and COO, said:

 

“In October, we progressed on schedule at our Garlock farm and expect to energize the first 6 megawatts (MW) of its planned 18 MW capacity by mid-November with full energization in December. In addition, Phase 3 of The Bunker is ahead of plan for its final 12 MW capacity and is also expected to be completed in December. The activation of these two state-of-the-art farms will achieve our facilities growth and transition goal for Sherbrooke.”

 

CleanSpark, Inc. (NasdaqCM:CLSK) has announced that it has acquired 3,843 units of the Antminer S19J Pro Bitcoin miners for $5.9 million, bringing the total number of machines purchased by the company “since bear market conditions began to over 26,500.” The company’s CEO, Zach Bradford, explained:

 

“This most recent purchase demonstrates how CleanSpark continues to execute in distressed markets. Our unwavering focus on sustainability has provided us with a strong balance sheet and operating strategy that has allowed us to acquire machines at incredible prices, grow our hashrate, and increase our daily bitcoin production in anticipation of market conditions improving over the next several months.”

 

Digihost Technology Inc. (NasdaqCM:DGHI) has published its unaudited comparative BTC production results and operations results for the month ended October 31, 2022. Highlights include the mining of 74.58 BTC – making for a total holdings of 118.16 BTC, and total Ethereum (ETH) holdings of 800.89 ETH. Michel Amar, the company’s Chairman and CEO, commented:

 

“Despite current volatile economic conditions, Digihost has been able to maintain good liquidity levels of cash and crypto holdings on a month-to-month basis relative to the size of our operations and of equal importance, the Company continues to be debt free. We have maintained these liquidity levels while internally funding 100% of our infrastructure development and securing bonds for electric service.”

 

Sam Mowers, Investorideas

 

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The #AIEye #Podcast - #Tech Firms Innovating #IntegratedCircuit (IC) Design- (OTCPINK: $GTCH) (NasdaqGS: $MCHP) (NYSE: $KEYS) @MicrochipTech @Keysight #artificialintelligence

 

 

The #AIEye #Podcast - #Tech Firms Innovating #IntegratedCircuit (IC) Design- (OTCPINK: $GTCH) (NasdaqGS: $MCHP) (NYSE: $KEYS) @MicrochipTech @Keysight #artificialintelligence

 

“For Microchip shortages innovation is required regardless of supply issues”- CTO of GBT Technologies Inc. (OTCPink: $GTCH)

 

Vancouver, Kelowna, Delta, BC – November 1, 2022 – Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) stocks releases a special edition of the AI Eye Podcast looking at how tech firms are advancing the future of Integrated Circuit design, featuring AI innovator GBT Technologies Inc. (OTC PINK:GTCH).

 

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Read this in full at https://www.investorideas.com/news/2022/artificial-intelligence/11011GTCH-MCHP-KEYS.asp

 

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The over two year-long global microchip shortage continues to impact global supply, and encourages development firms to innovate for greater efficiency. But Danny Rittman, CTO of GBT Technologies Inc. (OTC PINK:GTCH) contends that innovation is required regardless of supply issues. In a recent interview with Investorideas.com, Rittman explained the central importance of integrated circuits to the modern world, and why GBT is focussing so much of their time on the industry.

 

“GBT really believes that the integrated circuit (IC) and the semiconductor industry is basically what dictates the world’s progress,” he said. “Any new computer, laptop, server, cloud etc… microchips are the core of that technology. So we have long term plans to files many patents in this domain, we are acquiring lots of IPs, our patents have been granted and we are filing internationally as well.”

 

One such innovation is that of the firm’s microchip reliability verification and correction Electronic Design Automation (EDA) tool, called Epsilon. GBT recently announced that it is implementing new machine learning driven, pattern matching techniques within its Epsilon system with the goal of addressing the advanced semiconductor's physics, ensuring high level of reliability, optimal power consumption and high performance.

 

“Epsilon is a software we developed a few years ago, but we are investing more effort into it now,” he explained. “Epsilon is targeting the reliability of microchips. If a chip is not designed well for reliability – including electrothermal design – and the chip is not optimized for currents and electromigration, then it can cause it to be inefficient in power management, it might overheat, have a short lifespan etc…”

 

Rittman went on to explain the significance and demand for ICs in modern industry.

 

“Microchips can be considered the gold of this era,” he said. “I’m sure everyone is aware of what’s going on with the [microchip] shortage, and the world is trying to race into manufacturing and creating chips faster to meet the supply needs of cars, electronics, and everything else.”

 

Another firm, the aptly-named Microchip Technology Incorporated (NasdaqGS:MCHP), recently announced the introduction of an expansion “of its serial-attached memory controller portfolio with the new SMC 2000 series of Compute Express Link (CXL) based Smart Memory Controllers that enable CPUs, GPUs and SoCs to utilize CXL interfaces to connect either DDR4 or DDR5 memory.” This, in effect, according to the press release, allows for “more memory bandwidth per core, more memory capacity per core, and lowers the overall total cost of ownership in the data center by allowing modern CPUs to optimize application workloads.” For those who may not be aware, CXL is, according to its official site: “designed to be an industry open standard interface for high-speed communications, as accelerators are increasingly used to complement CPUs in support of emerging applications such as Artificial Intelligence and Machine Learning.”

 

Pete Hazen, Corporate Vice President of Microchip’s Data Center Solutions business unit, explained:

 

“We identified CXL as a disruptive technology early on and were integral to the standard’s definition. Microchip’s continued presence in the memory infrastructure market underscores our commitment to improving performance and efficiency for a broad range of SoC applications to support the increasing memory requirements of high-performance data center applications.”

 

Elsewhere in the space, Keysight Technologies, Inc. (NYSE:KEYS) reported that Samsung Foundry, a major semiconductor fabrication plant, has adopted its “Keysight E4727B Advanced Low-Frequency Noise Analyzer (A-LFNA) for measurement and analysis of flicker noise (1/f noise) and random telegraph noise (RTN) in semiconductor devices.” Charles Plott, Director of Product Management for PathWave Software Solutions at Keysight, explained the significance of this technology:

 

"Accurate low-frequency noise measurement and modeling are increasingly important in development of PDKs [process design kits], especially for the advanced technology nodes at 5, 4, and 3 nanometers. Samsung Foundry’s use of our A-LFNA enables design engineers with the highest quality PDKs for circuit design to achieve first-pass success and reduce time-to-market."

 

For their own part, GBT was recently granted a continuation patent for their 3D, Multi-Planar IC design and manufacturing technology by the United States Patent and Trademark Office (USPTO). Rittman stressed the significance of going beyond the vanguard of 3D design and including the multiplanar design.

 

“We said 3D chips are a good direction to increase the capacity of how much circuitry we can include, but we want to make it with multiple planes,” he said. “Imagine taking a simple cube structure, and placing circuitry on each plane of the cube. Just like that you’ve increased your silicon real estate significantly.”

 

Rittman said that GBT Technologies is constantly anticipating tomorrow’s technological needs with their R&D efforts.

 

“We always look into the future,” he said. “We’re trying to find the solution that’s going to be good for the next few decades, and enable us to create high capacity chips with lots of circuitry.”

 

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About GBT Technologies Inc.

GBT Technologies, Inc. (OTC PINK: GTCH) (“GBT”) (http://gbtti.com) is a development stage company which considers itself a native of Internet of Things (IoT), Artificial Intelligence (AI) and Enabled Mobile Technology Platforms used to increase IC performance. GBT has assembled a team with extensive technology expertise and is building an intellectual property portfolio consisting of many patents. GBT’s mission, to license the technology and IP to synergetic partners in the areas of hardware and software. Once commercialized, it is GBT’s goal to have a suite of products including smart microchips, AI, encryption, Blockchain, IC design, mobile security applications, database management protocols, with tracking and supporting cloud software (without the need for GPS). GBT envisions this system as a creation of a global mesh network using advanced nodes and super performing new generation IC technology. The core of the system will be its advanced microchip technology; technology that can be installed in any mobile or fixed device worldwide. GBT’s vision is to produce this system as a low cost, secure, private-mesh-network between any and all enabled devices. Thus, providing shared processing, advanced mobile database management and sharing while using these enhanced mobile features as an alternative to traditional carrier services.

 

About Investorideas.com - Big Investing Ideas

We publish breaking stock news, stock research, guest posts and create original top rated investing podcasts, plus sector tag articles featuring up and coming companies and industry leaders. Investor Idea’s original branded content includes the Crypto Corner Podcast , Play by Play Sports Podcast , Cannabis News and Stocks on the Move Podcast , Cleantech and Climate Change Podcast,  Exploring Mining Podcast , Betting on Gaming Stocks Podcast and the AI Eye Podcast. We also create free investor stock directories for AI and tech, biotech, cannabis, cleantech, crypto, defense, gaming, health and wellness, mining, oil and gas, sports and water.  

 

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Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. Disclosure: GTCH is a paid featured monthly AI stock on Investorideas.com More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

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