BOLLINGER INNOVATIONS, INC. (BINI)
Bollinger Innovations, Inc. operates as an electric vehicle enterprise, focusing its efforts on the manufacturing, marketing, and distribution of electric vehicles across the United States. The company's operations are segmented into two main divisions: Bollinger and Mullen Commercial. Its diverse product line includes both passenger and commercial vehicles, and it also specializes in providing advanced battery system technology. This organization, previously named Mullen Automotive, Inc., officially transitioned to Bollinger Innovations, Inc. in July 2025. Its corporate headquarters are located in Brea, California.
Sector: Motor Vehicles & Passenger Car Bodies
Industry: Auto - Manufacturers
Bollinger Innovations, Inc.
OTC:BINIConsumer Cyclical · Auto - Manufacturers
+0.00%$0.0629
Mkt Cap$228K
Float58K
O/S3.62M
Inst Own-
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$1.09M
Net Income-$457.06M
Total Assets$178.63M
Free Cash Flow-$200.3M
Debt & Equity
Total Debt$19.94M
Total Equity-$28.56M
Preferred Stock$364
Shares Outstanding
Short Interest
Split History3 splits · 3 reverse
2-year cumulative
1:6,250,000Over cap
Past the 1:250 Nasdaq cap, ineligible for a bid-price compliance period
- 1:250Reverse splitSep 22, 2025250 shares → 1
- 1:250Reverse splitAug 4, 2025250 shares → 1
- 1:100Reverse splitJun 2, 2025100 shares → 1
Balance Sheet Details
Assets$178.63M
Liabilities$195.18M
Accounts Receivable$124K
Accounts Payable$41.34M
Inventory$37.5M
PP&E (Net)$85.22M
Goodwill$0
Intangible Assets$27.06M
Income Statement
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 |
| Revenue | $1.09M | $366K | $0 | $0 | $65.71M | $65M | $65.79M | $60.06M | $54.29M | $40.24M | $21.24M | $18.75M | $1.38M | $183K |
| YoY Growth | 199.0% | - | - | - | 1.1% | -1.2% | 9.5% | 10.6% | 34.9% | 89.5% | 13.3% | 1253.9% | 656.0% | - |
| Cost of Revenue | $16.89M | $274K | $0 | $0 | $55.86M | $54.72M | $55.62M | $51.24M | $45.71M | $33.98M | $15.93M | $13.37M | $833K | $596K |
| Gross Profit | -$15.8M | $92K | $0 | $0 | $9.84M | $10.28M | $10.17M | $8.83M | $8.58M | $6.26M | $5.31M | $0 | $0 | $0 |
| Gross Margin | -1443.8% | 25.2% | - | - | 15.0% | 15.8% | 15.5% | 14.7% | 15.8% | 15.6% | 25.0% | - | - | - |
| Research and Development | $74.89M | $77.39M | $21.65M | $3.01M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $181.95M | $215.85M | $73.37M | $18.35M | $7.02M | $9.34M | $9.76M | $10.63M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other | $119.19M | $84.63M | $1.96M | $1.04M | $7.32M | $6.52M | $4.74M | $6.8M | $17.42M | $16.78M | $12.56M | $63.5M | $14.83M | $25.24M |
| Total Operating Expenses | $256.84M | $293.23M | $96.99M | $22.4M | $14.34M | $15.86M | $14.5M | $17.43M | $17.42M | $16.78M | $12.56M | $63.5M | $14.83M | $25.24M |
| Operating Income (EBIT) | -$272.64M | -$293.14M | -$96.99M | -$22.4M | -$4.49M | -$5.59M | -$4.33M | -$8.6M | -$8.84M | -$10.52M | -$7.25M | -$44.75M | -$13.44M | -$25.06M |
| Operating Margin | -24913.8% | -80093.3% | - | - | -6.8% | -8.6% | -6.6% | -14.3% | -16.3% | -26.1% | -34.1% | -238.7% | -970.6% | -13678.3% |
| Interest Expense | $49.38M | $4.99M | $26.95M | $21.17M | $1.45M | $1.11M | $847K | $1.19M | $852K | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $0 | $0 | $0 | $0 | -$1.45M | -$1.11M | -$847K | -$1.19M | -$1.46M | -$3.58M | -$3.71M | -$2.98M | $371K | $38K |
| Other Income (Expense) | -$237.08M | -$724.51M | -$643.33M | -$21.84M | -$1.43M | $261K | $323K | -$1.43M | -$4.78M | -$2.81M | -$2.97M | -$3.14M | -$3.37M | -$217K |
| Income Before Tax (EBT) | -$509.72M | -$1.02B | -$740.32M | -$44.24M | -$5.92M | -$5.32M | -$4.01M | -$10.02M | -$13.62M | -$13.33M | -$10.21M | -$47.89M | -$16.81M | -$25.27M |
| Income Tax Expense | -$3.89M | -$10.99M | $2K | $800 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $213K | $156K | $0 |
| Net Income | -$457.06M | -$972.25M | -$739.53M | -$44.24M | -$5.98M | -$6.56M | -$5.02M | -$10.02M | -$13.62M | -$13.33M | -$10.21M | -$49.44M | -$16.93M | -$25.27M |
| Net Income Margin | -41766.4% | -265643.3% | - | - | -9.1% | -10.1% | -7.6% | -16.7% | -25.1% | -33.1% | -48.1% | -263.7% | -1222.7% | -13796.9% |
| Supplementary Data | ||||||||||||||
| EPS | -53460383758651.00 | -5903043764757610.00 | -236563876034967008.00 | -721851753158100992.00 | -453593250453592.94 | -539271000539271.06 | -430666875430667.06 | -1701000001701000.00 | -34863750034863800.00 | -7830000007830001.00 | -9112500009112500.00 | -57649725057649696.00 | -25896037525895996.00 | -24723643962774.39 |
| Diluted EPS | -53460383758651.00 | -5903043764757610.00 | -236563876034967008.00 | -721851753158100992.00 | -453593250453592.94 | -539271000539271.06 | -430666875430667.06 | -1701000001701000.00 | -34863750034863800.00 | -7830000007830001.00 | -9112500009112500.00 | -57649725057649696.00 | -25896037525895996.00 | -24723643962774.39 |
| Weighted Average OS | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBITDA | -$438.35M | -$996.27M | -$710.09M | -$22.35M | -$3.75M | -$3.35M | -$706K | -$6.3M | -$9.3M | -$10.7M | -$7.79M | -$45.64M | -$16.55M | -$24.75M |
| EBITDA Margin | -40057.1% | -272203.8% | - | - | -5.7% | -5.1% | -1.1% | -10.5% | -17.1% | -26.6% | -36.7% | -243.4% | -1194.8% | -13510.5% |
Balance Sheet
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 |
| Assets | ||||||||||||||
| Current Assets | ||||||||||||||
| Cash and Cash Equivalents | $10.32M | $155.27M | $54.09M | $42K | $33K | $2.22M | $1.65M | $11.29M | $622K | $1.03M | $503K | $126K | $3.58M | $102K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $10.32M | $155.27M | $54.09M | $42K | $33K | $2.22M | $1.65M | $11.29M | $622K | $1.03M | $503K | $126K | $5.6M | $102K |
| Accounts Receivable | $124K | $672K | $0 | $0 | $5.25M | $5.55M | $6.29M | $5.47M | $7.13M | $5.2M | $3.44M | $10.62M | $6.09M | $0 |
| Inventory | $37.5M | $16.81M | $0 | $56K | $43K | $32K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $427K | $429K | $30.29M | -$56K | $10M | $9.7M | $1.75M | $2.28M | $1.47M | $1.11M | $944K | $834K | $11.41M | $0 |
| Total Current Assets | $63.17M | $198.13M | $86.33M | $6.81M | $15.33M | $17.5M | $9.69M | $19.04M | $9.22M | $7.33M | $4.88M | $12.69M | $27.87M | $102K |
| Long-Term Assets | ||||||||||||||
| Property, Plant & Equipment Net | $85.22M | $87.28M | $19.4M | $3.53M | $3.27M | $1.97M | $25K | $58K | $117K | $162K | $71K | $137K | $291K | $0 |
| Goodwill | $0 | $28.85M | $92.83M | $0 | $0 | $0 | $9.01M | $9.64M | $9.64M | $9.64M | $6.67M | $6.67M | $0 | $0 |
| Intangible Assets | $27.06M | $104.24M | $93.95M | $2.5M | $2.62M | $2.35M | $6.44M | $3.13M | $3.59M | $5.42M | $2.49M | $2.96M | $213K | $0 |
| Long-Term Investments | $0 | $2.25M | $1.23M | $0 | $781K | $630K | $0 | $51K | $0 | $0 | $0 | $46K | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $3.18M | $961K | $8.85M | $4.33M | -$19K | $441K | $604K | $461K | $743K | $353K | $205K | $0 | $0 | $0 |
| Total Long-Term Assets | $115.46M | $223.58M | $216.26M | $10.36M | $6.66M | $5.39M | $16.08M | $13.34M | $14.09M | $15.58M | $9.44M | $9.82M | $504K | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $46.18M |
| Total Assets | $178.63M | $421.71M | $302.59M | $17.17M | $21.99M | $22.89M | $25.76M | $32.38M | $23.31M | $22.91M | $14.32M | $22.51M | $28.38M | $46.28M |
| Liabilities | ||||||||||||||
| Current Liabilities | ||||||||||||||
| Accounts Payable | $41.34M | $13.18M | $6.11M | $5.21M | $2.69M | $1.95M | $6.32M | $6.79M | $7.51M | $5.86M | $2.7M | $3.19M | $498K | $331K |
| Short-Term Debt | $5.4M | $7.46M | $3.86M | $39.2M | $33.05M | $20.01M | $433K | $2.49M | $148K | $518K | $98K | $12.29M | $9.4M | $0 |
| Current Income Tax Payable | $5.49M | $2.85M | $1.74M | $0 | -$12K | $2K | -$46K | $137K | $132K | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $1.5M | $1.71M | $1.36M | $744K | $472K | $239K | $0 | $0 |
| Other Current Liabilities | $120.61M | $105.64M | $95.89M | $7.03M | $0 | $437K | $2.97M | $3.67M | $6.48M | $3.3M | $2.35M | $4.94M | $1.3M | $0 |
| Total Current Liabilities | $183.17M | $139.61M | $122.23M | $71.16M | $58.23M | $42.01M | $11.22M | $14.67M | $15.49M | $10.43M | $5.62M | $20.66M | $11.23M | $331K |
| Long-Term Liabilities | ||||||||||||||
| Long-Term Debt | $0 | $0 | $5.16M | $248K | $284K | $10.26M | $5.95M | $4.52M | $3.62M | $3.45M | $0 | $17.26M | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $3.89M | $14.88M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $356K | $1.83M | -$1 | $5.62M | $4.5M | $4.5M | $0 | $0 | $140K | $0 | $3.22M | $19.05M | $136K | $220K |
| Total Long-Term Liabilities | $12M | $9.29M | $23.41M | $7.72M | $6.27M | $14.76M | $5.95M | $4.52M | $3.76M | $3.45M | $3.22M | $17.26M | $136K | $220K |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $195.18M | $148.9M | $145.64M | $78.88M | $64.49M | $56.77M | $17.17M | $19.19M | $19.25M | $13.87M | $8.84M | $37.92M | $11.37M | $551K |
| Stockholders' Equity | ||||||||||||||
| Preferred Stock | $364 | $2K | $6K | $6K | $6K | $0 | $0 | $0 | $0 | $954K | $0 | $0 | $0 | $0 |
| Common Stock | $5K | $29 | $37 | $7K | $5K | -$33.88M | $386 | $385 | $154 | $1K | $5K | $3K | $3K | $23.04M |
| Retained Earnings | -$2.32B | -$1.86B | -$889.91M | -$150.37M | -$106.13M | -$178.75M | -$172.29M | -$167.36M | -$157.44M | -$143.96M | -$129.12M | -$118.93M | -$70.22M | -$836K |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | -$2.27M | -$2.23M | -$2.53M | -$4.97M | -$1.67M | -$1.25M | $159K | $276K | $0 |
| Other Stockholders' Equity | $2.29B | $2.07B | $948.6M | $88.66M | $63.62M | $178.75M | $181.01M | $180.59M | $161.43M | $152.8M | $134.6M | $103.64M | $87.22M | $496K |
| Total Equity | -$28.56M | $208.95M | $58.7M | -$61.71M | -$42.5M | -$33.88M | $8.72M | $13.23M | $3.99M | $8.84M | $5.49M | -$15.28M | $17.01M | $22.7M |
| Minority Interest | $12.01M | $63.86M | $98.26M | $0 | $0 | $0 | -$126K | -$39K | $70K | $199K | $270K | -$125K | -$506K | $0 |
| Total Liabilities and Equity | $166.62M | $357.85M | $204.33M | $17.17M | $21.99M | $22.89M | $25.89M | $32.42M | $23.24M | $22.71M | $14.32M | $22.63M | $28.38M | $23.25M |
| Supplementary Data | ||||||||||||||
| Total Debt | $19.94M | $13.16M | $13.81M | $41.91M | $35.15M | $30.27M | $6.38M | $7.02M | $4.19M | $3.96M | $98K | $29.55M | $9.4M | $0 |
| Net Debt | $9.62M | -$142.1M | -$40.28M | $41.86M | $35.12M | $28.05M | $4.73M | -$4.27M | $3.94M | $2.94M | -$405K | $29.42M | $5.82M | -$102K |
Cash Flow Statement
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 |
| Operating Activities | ||||||||||||||
| Net Income | -$505.83M | -$1.01B | -$740.32M | -$44.24M | -$30.18M | -$40.84M | -$4.94M | -$9.91M | -$134.88M | -$132.54M | -$101.86M | -$483.09M | -$16.39M | -$677K |
| Depreciation & Amortization | $21.98M | $16.39M | $3.28M | $721K | $726K | $867K | $2.45M | $2.53M | $3.47M | $2.62M | $2.42M | $2.24M | $266K | $0 |
| Deferred Income Tax | -$3.89M | -$10.99M | $2K | $800 | $93K | $191K | $0 | $0 | -$10.47M | -$16.58M | -$66.36M | -$17.06M | $12.04M | $0 |
| Stock-Based Compensation | $40.43M | $85.44M | $43.72M | $6.23M | $1.04M | $876K | $142K | $2.94M | $34.63M | $43.06M | $42.67M | $165.5M | $6.24M | $0 |
| Changes in Working Capital: | ||||||||||||||
| Accounts Receivable | $547K | $15.81M | $0 | -$582K | -$264K | -$1.5M | -$1.5M | $3M | -$2.75M | -$1.49M | $7.91M | -$562K | -$11.05M | $0 |
| Inventory | -$36.27M | -$16.81M | $0 | -$87K | -$12K | -$69K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $25.23M | $7.78M | $1.19M | $5.67M | $741K | $995K | $971K | -$2.94M | $3.8M | $3.16M | -$339K | $2.27M | -$982K | $281K |
| Other Working Capital | $17.72M | $16.07M | -$14.9M | -$6.08M | $2.26M | $2.24M | $384K | -$666K | $41K | $974K | -$1.41M | -$886K | $0 | $0 |
| Total Working Capital Change | $7.22M | $7.05M | -$13.71M | -$1.09M | $2.72M | $3.16M | -$148K | -$607K | $1.09M | $2.64M | $6.16M | $820K | -$12.04M | $281K |
| Other Non-Cash Items | $254.53M | $729.6M | $641.24M | $20.86M | $14.82M | $32.2M | -$780K | $5K | $73.37M | $83.88M | $139.5M | $223.49M | -$15.29M | $276K |
| Net Cash from Operating | -$185.56M | -$179.17M | -$65.8M | -$17.52M | -$10.78M | -$3.55M | -$3.27M | -$5.04M | -$32.78M | -$16.91M | $22.54M | -$108.1M | -$25.18M | -$120K |
| Investing Activities | ||||||||||||||
| Capital Expenditures | -$14.75M | -$107.42M | -$12.02M | -$162K | -$567K | -$721K | -$5.53M | -$1.99M | -$1.87M | -$5.79M | -$7.51M | $673K | -$220K | $0 |
| Acquisitions | -$1.4B | $0 | -$29.63M | $0 | $162K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $1.4B | -$498K | -$5.5M | $0 | -$162K | $7K | $0 | $150K | -$13.2M | -$37.74M | -$10.42M | $40.36M | -$7.22M | $14K |
| Net Cash from Investing | -$16.15M | -$107.92M | -$47.15M | -$162K | -$567K | -$714K | -$5.53M | -$1.84M | -$15.07M | -$43.53M | -$17.93M | $41.03M | -$7.44M | $14K |
| Financing Activities | ||||||||||||||
| Debt Repaid | -$56.76M | -$149.31M | $2.86M | -$12.19M | -$7.53M | -$13.27M | $654K | -$2.68M | -$3.1M | -$650K | $344K | -$1.73M | -$9.4M | - |
| Common Stock Issuance | $0 | $197M | $42.27M | $4.8M | $1.63M | $0 | $0 | $14.88M | $300K | $5.5M | $252.33M | $6.09M | $4.1M | $0 |
| Common Stock Repurchases | $0 | -$5.61M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$482K | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | $17.72M | $15M | $0 | $0 | -$7.55M | $0 | $0 | $40.87M | $58.66M | $1.08M | $30.24M | $22.33M | $0 |
| Net Cash from Financing | $56.76M | $358.42M | $197.28M | $17.69M | $9.16M | $5.72M | -$654K | $17.56M | $44.27M | $64.81M | $736K | $31.49M | $35.83M | $0 |
| Forex Effect | $0 | $0 | $0 | -$20K | $0 | $0 | -$34K | -$21K | -$456K | $846K | -$1.57M | $1.38M | $276K | $0 |
| Net Change in Cash | -$144.95M | $71.32M | $84.33M | $9K | -$2.19M | $1.45M | -$9.48M | $10.66M | -$4.04M | $5.22M | $3.77M | -$34.2M | $3.5M | -$106K |
| Supplementary Data | ||||||||||||||
| Operating Cash Flow | -$185.56M | -$179.17M | -$65.8M | -$17.52M | -$4.37M | -$3.55M | -$3.27M | -$5.04M | -$32.78M | -$16.91M | $22.54M | -$108.1M | -$25.18M | -$120K |
| Capital Expenditure | -$14.75M | -$107.92M | -$12.02M | -$162K | -$567K | -$721K | -$5.53M | -$1.99M | -$1.87M | -$5.79M | -$7.51M | $673K | -$220K | $0 |
| Free Cash Flow | -$200.3M | -$287.1M | -$77.82M | -$17.68M | -$4.94M | -$4.27M | -$8.8M | -$7.03M | -$34.65M | -$22.7M | $15.03M | -$107.43M | -$25.4M | -$120K |
| Cash at Beginning | $155.7M | $84.38M | $42K | $33K | $2.22M | $767K | $11.29M | $622K | $10.26M | $5.03M | $1.26M | $35.47M | $83K | $208K |
| Cash at End | $10.75M | $155.7M | $84.38M | $42K | $33K | $2.22M | $1.65M | $11.29M | $6.22M | $10.26M | $5.03M | $1.26M | $3.58M | $102K |