Letter of intent as the basis for final agreements for an initial order of 1. 500 MX-05 and up to and additionally 8. 500 by 2025.
BREA, CA / ACCESSWIRE / 30. December 2020 / Mullen Technologies Inc. . (« Mullen » or the « Company »), an emerging electric vehicle (« EV ») manufacturer, which previously entered into a definitive agreement to merge with Net Element, Inc. . (NASDAQ: NETE) announced today that the company has entered into a non-binding letter of intent with Unlimited Electrical whereby Mullen shareholders will receive a majority of the outstanding shares of the post-merger company Contractors Corp (UEC) enters into definitive agreements to purchase of up to 10. 000 MX-05 electric vehicles. UEC is a leading electrical contractor based in Pompano Beach, Florida specializing in commercial and residential projects in South Florida.
UEC’s mission is to be the first electrician with a fully electric service fleet and intends to reach a definitive agreement with the company for the purchase of 1. Complete 500 MX-05 electric vehicles for operation in Florida. By 2025 there should be another 8. 500 for his U will be. S.. . West coast extension. The initial order is estimated at $ 75 million. The vehicles are based on a modified variant of the MX-05, an electric crossover SUV based on a skateboard EV platform and a unibody frame that comes in a single or double electric motor configuration.
« We are very excited to be working with UEC and are very happy that you see the value of Mullen and the MX-05 for your business. The UEC contract is the first of many commercial fleet relationships we are currently working on. The MX-05’s skateboard platform and low center of gravity allow us to easily configure the vehicle for many different types of commercial trade, « said David Michery, CEO and Chairman of Mullen Technologies.
« We are pleased with the redesigned Mullen MX-05 SUV and are very excited to be working with Mullen to electrify our fleet of service vehicles, » commented Mark Petrich, CEO of Unlimited Electrical Contractors.
Mullen Technologies is a Southern California-based licensed vehicle manufacturer operating in a variety of industries, focusing on the automotive industry: Mullen Automotive, Mullen Energy, Mullen Auto Sales, and Mullen Funding Corp.. . and CarHub. Each of these divisions offers Mullen a wide variety of products and services in the automotive industry. For further information go to www. MullenUSA. com.
Unlimited Electrical Contractors Corp.. . is one of the leading electrical contractors in South Florida based in Pompano Beach, FL, since 1999, a multi-million dollar commercial electrical contractor who prides itself on being flexible enough to handle and handle timely service calls, yet still in the Capable of handling the most complex, prestigious multi-million dollar residential and commercial projects in South Florida and across the country. For further information go to www. unlimited companies. com
Forward-Looking Statements This press release contains « forward-looking statements ». « Words like » can « , » should « , » could « , » would « , » says « , » potential « , » further « , » expects « , » anticipates « , » future « , » intends « , » plans » , « believes, » « estimates, » and similar expressions, as well as forward-looking statements, often mean forward-looking statements. These forward-looking statements include, without limitation, statements regarding the proposed production date of the mid-size MX-05 and the perceived benefits and future uses of solid-state polymer battery technology. By their very nature, these forward-looking statements are subject to considerable risks and uncertainties.
Forward-looking statements should not be read as a guarantee of future performance or results and may not be an accurate indication of when such performance or results will be achieved. Forward-looking statements are based on information available to the company when such statements are made or on management’s belief at that time about future events and are subject to risks and uncertainties that could cause actual performance or results to be affected materially differ, expressed or suggested in the forward-looking statements, including any changes in laws, rules and regulations relating to aspects of the Company’s business, general economic, market and business conditions, including capital market developments, actions and developments of the Die Company’s competitors and the impact of competition in the EV industry on the demand for and price of Company’s current and proposed products and services, various business opportunities for the Company, and factors that a outside the control of the company. Because of these and other risks, uncertainties, and assumptions, forward-looking events and circumstances discussed herein may not occur, or not occur at all, as the company expects. Accordingly, you should not place undue reliance on any forward-looking information or statement. The company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or for any other reason. All forward-looking statements in this document are qualified with reference to the cautionary statements in this section.
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With that in mind, according to Wall Street analysts, we used the TipRanks database to find two compelling penny stocks. Both tickers have a strong buy consensus rating and a lot of upside potential. Matinas BioPharma (MTNB) Matinas BioPharma hopes to use its LNC (Lipid Nano-Crystal Platform) delivery technology to solve complex challenges related to oral small molecule delivery, gene therapies, vaccines, proteins and peptides. Currently for $ 0. 87 apiece, several members of the street believe their stock price is an attractive entry point. Five-star analyst Robert Hazlett, who writes for BTIG, points to MAT2203 as a key component of his bullish thesis. The therapy was developed as a liposomal nanocrystal (LNC) version of the broad spectrum antifungal drug Amphotericin B, which enables oral delivery of the drug. Ahead of the Phase 2 EnACT trial to evaluate the candidate for cryptococcal meningitis, where registration for Cohort 2 is expected to begin shortly and the next DSMB dates are expected in mid-2021, Hazlett points out that this will be the “first of possibly several “are indications with the novel antifungal agent. Continuing his optimism about the therapy, Hazlett stated, “The independent DSMB unanimously recommended moving to the second cohort of patients in EnACT, which is a validation event for MAT2203 as progression through the cohorts depends on the rate of CSF -Fungal clearance and the lack of rebound in fungal count as well as progression through the cohorts of EnACT therefore signal the activity of MAT2203 and the successful crossing of the blood-brain barrier (BBB) to maintain a decreased fungal count in the CSF. In addition, registration for ENHANCE-IT, a head-to-head trial of MAT9001 versus Amarin’s Vascepa, has been completed. MAT9001 is MTNB’s free fatty acid formulation of EPA and DPA and, according to Hazlett, produces significantly higher EPA blood levels than Vascepa. If that’s not enough, the company recently announced a collaboration with NIAID to investigate a liposomal nanocrystal (LNC) formulation of Gilead’s remdesivir for an oral formulation of COVID-19 therapy. « We believe this collaboration further validates Matinas’ LNC technology, » commented Hazlett. In keeping with his bullish stance, Hazlett is looking to buy MTNB and his target price of $ 5 implies room for an impressive upside of 474% over the next 12 months. (To see Hazlett’s track record, click here. If we turn to the rest of the road, other analysts agree with Hazlett’s opinion. Since only buy recommendations were published in the last three months, MTNB achieved a strong buy analyst consensus. With an average price target of $ 4, stocks could be 359% above current levels. (See MTNB stock analysis on TipRanks) Equillium (EQ) Equillium has a thorough understanding of immunology and its role in disease and develops innovative therapies for severe autoimmune and inflammatory disorders. With stocks that trade for $ 4. 25, some analysts think now is the time to pull the trigger. After the company’s analyst day, on which the clinical programs for the anti-CD6 monoclonal antibody itolizumab were presented, Leerink analyst Thomas Smith remains optimistic about its long-term growth prospects. During the event, EQ published individual patient responses as well as biomarker analyzes that followed the most recent positive interim data from the first three cohorts of the Phase 1b EQUATE study investigating itolizumab in acute graft versus host disease (aGVHD). . Going forward, the company plans to expand the dose in cohorts 2 and 3 by adding three more patients to each cohort. The main results of the study are expected in 1H21. Looking at the first data from the Phase 1b EQUATE study, Smith believes that there was a rapid, deep, and lasting response to itolizumab in aGVHD. In the updated data, the overall response rate (ORR) was across all doses up to 57. Day in 80%, with 8 out of 10 patients achieving a total of complete remission (CR). . In addition, therapy was also tied to the ability to reduce and decrease systemic steroid use in patients. “These results are consistent with biomarker data showing that itolizumab rapidly decreased CD6 expression on CD4 and CD8 T cells. We believe these results are compelling and support EQ’s plans to extend the dosage to additional GVHD patients at 0. 8 mg / kg and 1. 6 mg / kg dose, ”explained Smith. If that wasn’t enough, EQ presented preclinical and translational research to support the Phase 1b EQUALIZE trial of itolizumab in systemic lupus erythematosus (SLE) and lupus nephritis (LN), and Smith expects first results in SLE in the first quarter 21 and interim results will be available in LN in 2H21. To do this, Smith rates EQ a Buy along with a price target of $ 18. Should this goal be achieved in the coming year, investors could pocket a profit of ~ 328%. (To see Smith’s track record, click here. ) What does the rest of the street have to say? 3 buys and no holds or sells results in a strong buy consensus rating. Given the average price target of $ 15, stocks could rise 328% over the coming year. (See EQ stock analysis on TipRanks. ) To find great ideas for trading penny stocks at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that brings together all of the insights into TipRanks stocks. Disclaimer: The opinions expressed in this article are solely those of the analysts presented. The content is intended to be used for informational purposes only. It is very important that you do your own analysis before making any investment.
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Stock, NASDAQ: NETE, net element, order
World News – USA – Mullen Technologies Receives Letter of Intent for Ordering Jan.. 500 MX-05 electric vehicles
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