Mullen Automotive (MULN) 10-Q 14 Aug 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2023	Aug. 14, 2023
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2023
Entity File Number	001-34887
Entity Registrant Name	MULLEN AUTOMOTIVE INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-3289406
Entity Address, Address Line One	1405 Pioneer Street
Entity Address, City or Town	Brea
Entity Address State Or Province	CA
Entity Address, Postal Zip Code	92821
City Area Code	714
Local Phone Number	613-1900
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	MULN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		184,168,720
Entity Central Index Key	0001499961
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2023	Sep. 30, 2022
CURRENT ASSETS
Cash and cash equivalents	$ 214,012,136	$ 54,085,685
Restricted cash	13,419,872	30,289,400
Accounts receivable	308,000
Inventory	12,146,844
Prepaid expenses and other current assets	15,154,205	1,958,759
TOTAL CURRENT ASSETS	255,041,057	86,333,844
Property, equipment and leasehold improvements, net	91,750,519	17,786,702
Intangible assets, net	111,957,534	93,947,018
Deposit on ELMS purchase		5,500,000
Receivable from related party	$ 1,876,013	$ 1,232,387
Financing Receivable, after Allowance for Credit Loss, Noncurrent, Related Party, Type [Extensible Enumeration]	Related Party	Related Party
Right-of-use assets	$ 5,504,851	$ 4,597,052
Goodwill	92,834,832	92,834,832
Other assets	1,010,712	362,643
TOTAL ASSETS	559,975,518	302,594,478
CURRENT LIABILITIES
Accounts payable	12,411,851	6,398,423
Accrued expenses and other current liabilities	8,385,380	7,185,881
Dividends payable	374,445	7,762,255
Derivative liabilities	150,318,473	84,799,179
Liability to issue shares	8,870,227	10,710,000
Lease liabilities, current portion	2,217,059	1,428,474
Notes payable, current portion	7,306,107	3,856,497
Other current liabilities	103,372	90,372
TOTAL CURRENT LIABILITIES	189,986,914	122,231,081
Notes payable, net of current portion		5,164,552
Lease liabilities, net of current portion	3,709,616	3,359,354
Deferred tax liability	14,436,974	14,882,782
TOTAL LIABILITIES	208,133,504	145,637,769
Commitments and contingencies (Note 18)
STOCKHOLDERS' EQUITY
Common stock; $0.001 par value; 5,000,000,000 and 1,750,000,000 shares authorized at June 30, 2023 and September 30, 2022 respectively; 780,864,732 and 33,338,727 shares issued and outstanding at June 30, 2023 and September 30, 2022 respectively (*)	86,763	3,704
Common stock owed but not issued; $0.001 par value; 6,165,212 and zero shares at June 30, 2023 and September 30, 2022 respectively (*)	17,126
Additional paid-in capital (*)	1,950,179,828	948,594,920
Accumulated deficit	(1,689,954,794)	(889,907,455)
Non-controlling interest	91,511,517	98,259,819
TOTAL STOCKHOLDERS' EQUITY	351,842,014	156,956,709
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	559,975,518	302,594,478
Series A Preferred Stock
STOCKHOLDERS' EQUITY
Preferred Stock, Value	1	2
Series C Preferred Stock
STOCKHOLDERS' EQUITY
Preferred Stock, Value	1,210	1,360
Series D Preferred Stock
STOCKHOLDERS' EQUITY
Preferred Stock, Value	$ 363	$ 4,359

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2023	Sep. 30, 2022
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	500,000,000	500,000,000
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	5,000,000,000	1,750,000,000
Common Stock, shares issued	86,762,748	3,704,303
Common Stock, shares outstanding	86,762,748	3,704,303
Common stock owed but not issued, par value	$ 0.001	$ 0.001
Common shares owed but unissued	17,125,589	0
Series A Preferred Stock
Preferred Stock, shares authorized	200,000	200,000
Preferred Stock, shares issued	1,036	1,924
Preferred Stock, shares outstanding	1,036	1,924
Series C Preferred Stock
Preferred Stock, shares authorized	40,000,000	40,000,000
Preferred Stock, shares issued	1,210,056	1,360,321
Preferred Stock, shares outstanding	1,210,056	1,360,321
Series D Preferred Stock
Preferred Stock, shares authorized	437,500,001	437,500,001
Preferred Stock, shares issued	363,097	4,359,652
Preferred Stock, shares outstanding	363,097	4,359,652

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
REVENUE
Vehicle sales	$ 308,000		$ 308,000
Revenue from Contract with Customer, Product and Service [Extensible Enumeration]	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Cost of sales	$ (248,669)		$ (248,669)
Cost, Product and Service [Extensible Enumeration]	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Gross Margin	$ 59,331		$ 59,331
OPERATING EXPENSES
General and administrative	31,777,812	$ 10,896,800	144,186,161	$ 53,067,316
Research and development	22,088,011	7,324,365	51,188,991	9,665,126
Total Operating Expense	53,865,823	18,221,165	195,375,152	62,732,442
Loss from Operations	(53,806,492)	(18,221,165)	(195,315,821)	(62,732,442)
Other financing costs - initial recognition of derivative liabilities	(248,413,090)		(504,373,115)	(269,344,178)
Gain / (loss) on derivative liability revaluation	(241,168)	34,583,523	(89,462,559)	(107,705,006)
Gain / (loss) extinguishment of debt, net	206,081		(6,246,089)	33,413
Loss on financing	(8,934,892)		(8,934,892)
Gain / (loss) on sale of fixed assets	1,346	(50,574)	386,377	(50,574)
Interest expense	(608,332)	(5,346,766)	(5,414,185)	(29,906,225)
Penalty for insufficient authorized shares		(3,495,000)		(3,495,000)
Other income / (loss), net	826,378	(12,317,169)	2,044,258	(12,317,169)
Net loss before income tax benefit	(310,970,169)	(4,847,151)	(807,316,026)	(485,517,181)
Income tax benefit/ (provision)	(456,191)		520,385
Net loss before accrued preferred dividends and noncontrolling interest	(311,426,360)	(4,847,151)	(806,795,641)	(485,517,181)
Net loss attributable to noncontrolling interest	(2,568,126)		(6,748,302)
Net loss attributable to stockholders	(308,858,234)	(4,847,151)	(800,047,339)	(485,517,181)
Accrued preferred dividends	(13,125)	(2,285,792)	7,387,811	(37,541,085)
Net Loss attributable to common stockholders after preferred dividends	$ (308,871,359)	$ (7,132,943)	$ (792,659,528)	$ (523,058,266)
Net loss per share, basic	$ (11.14)	$ (4.26)	$ (55.44)	$ (694.20)
Net loss per share, diluted	$ (11.14)	$ (4.26)	$ (55.44)	$ (694.20)
Weighted average shares outstanding, basic	27,720,475	1,674,607	14,296,659	753,474
Weighted average shares outstanding, diluted	27,720,475	1,674,607	14,296,659	753,474

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)	Preferred Stock Series A Preferred Stock	Preferred Stock Series B Preferred Stock	Preferred Stock Series C Preferred Stock	Preferred Stock Series D Preferred Stock	Preferred Stock Series AA Preferred Stock	Common Stock	Common Stock Owed But Unissued	Paid-in Capital	Accumulated Deficit	Non-controlling Interest	Total
Balance, beginning at Sep. 30, 2021	$ 100	$ 5,568				$ 31		$ 88,664,069	$ (150,374,649)		$ (61,704,881)
Balance, beginning (in shares) at Sep. 30, 2021	100,363	5,567,319				31,326
Cashless warrant exercise						$ 1,628		373,966,197			373,967,825
Cashless warrant exercise (in shares)						1,627,718
Issuance of common stock for conversion of preferred stock	$ (98)	$ (5,568)	$ (3,988)			$ 86		15,878			6,310
Issuance of common stock for conversion of preferred stock (in shares)	(98,429)	(5,567,319)	(3,988,385)			86,216
Common shares issued for cash			$ 4,974			$ 292		84,496,245			84,501,511
Common shares issued for cash (in shares)			4,974,266			292,011
Common shares issued for asset						$ 0		141,105			141,105
Common shares issued for asset (in shares)						486
Preferred shares issued for cash			$ 2,264					19,997,736			20,000,000
Preferred shares issued for cash (in shares)			2,263,970
Preferred shares issued to settle liability			$ 2,914					25,670,863			25,673,777
Preferred shares issued to settle liability (in shares)			2,913,929
Warrant issuances								25,491,621			25,491,621
Common shares issued to settle liability						$ 78		27,296,713			27,296,791
Common shares issued to settle liability (in shares)						78,362
Common shares issued for note receivable						$ 64		(64)			0
Common shares issued for note receivable (in shares)						63,749
Share-based compensation						$ 37		31,070,408			31,070,445
Share-based compensation (in shares)						36,552
Preferred stock dividends								(4,805,740)			(4,805,740)
Reclassification of convertible security to derivative liability	$ (2)		$ (6,164)								(6,166)
Reclassification of convertible security to derivative liability (in shares)	(1,934)		(6,163,780)
Net loss									(485,517,181)		(485,517,181)
Balance, ending at Jun. 30, 2022	$ 0	$ 0	$ 0			$ 2,216		672,005,031	(635,891,830)		36,115,417
Balance, ending (in shares) at Jun. 30, 2022						2,216,420
Balance, beginning at Mar. 31, 2022	$ 2	$ 2,785	$ 8,303			$ 1,288		476,633,341	(631,044,679)		(154,398,960)
Balance, beginning (in shares) at Mar. 31, 2022	1,934	2,783,659	8,303,323			1,287,929
Cashless warrant exercise						$ 756		166,289,993			166,290,749
Cashless warrant exercise (in shares)						756,583
Issuance of common stock for conversion of preferred stock		$ (2,785)	$ (2,139)			$ 22		3,052			(1,850)
Issuance of common stock for conversion of preferred stock (in shares)		(2,783,659)	(2,139,543)			21,881
Common shares issued to settle liability						$ 78		26,261,775			26,261,853
Common shares issued to settle liability (in shares)						77,778
Common shares issued for note receivable						$ 64		(64)			0
Common shares issued for note receivable (in shares)						63,749
Share-based compensation						$ 8		5,102,726			5,102,734
Share-based compensation (in shares)						8,500
Preferred stock dividends								(2,285,792)			(2,285,792)
Reclassification of convertible security to derivative liability	$ (2)		$ (6,164)								(6,166)
Reclassification of convertible security to derivative liability (in shares)	(1,934)		(6,163,780)
Net loss									(4,847,151)		(4,847,151)
Balance, ending at Jun. 30, 2022	$ 0	$ 0	$ 0			$ 2,216		672,005,031	(635,891,830)		36,115,417
Balance, ending (in shares) at Jun. 30, 2022						2,216,420
Balance, beginning at Sep. 30, 2022	$ 2		$ 1,360	$ 4,359		$ 3,704		948,594,920	(889,907,455)	$ 98,259,819	156,956,709
Balance, beginning (in shares) at Sep. 30, 2022	1,924		1,360,321	4,359,652		3,704,303
Cashless warrant exercise						$ 51,215	$ 17,126	493,736,977			493,805,318
Cashless warrant exercise (in shares)						51,214,721	17,125,589
Issuance of preferred stock, common stock and prefunded warrants in lieu of preferred stock				$ 273,364		$ 25,373		196,525,116			196,823,853
Issuance of preferred stock, common stock and prefunded warrants in lieu of preferred stock (in shares)				273,363,635		25,373,502
Issuance of common stock for conversion of convertible notes						$ 2,358		153,219,879			153,222,237
Issuance of common stock for conversion of convertible notes (in shares)						2,357,615
Issuance of common stock for conversion of preferred stock	$ (1)		$ (150)	$ (277,360)		$ 1,234		276,277
Issuance of common stock for conversion of preferred stock (in shares)	(888)		(150,265)	(277,360,190)		1,233,775
Reclassification of derivatives to equity upon authorization of sufficient number of shares								47,818,882			47,818,882
Warrants exercised for receivable and financing loss						$ 528		14,974,279			14,974,807
Warrants exercised for receivable and financing loss (in shares)						527,883
Shares issued to settle note payable						$ 276		13,736,127			13,736,403
Shares issued to settle note payable (in shares)						275,772
Shares issued to extinguish penalty						$ 102		5,519,898			5,520,000
Shares issued to extinguish penalty (in shares)						102,222
Preferred shares issued to officers								25,000			25,000
Preferred shares issued to officers (in shares)					1
Preferred shares series AA refund								(25,000)			(25,000)
Preferred shares series AA refund (in shares)					(1)
Share-based compensation						$ 1,973		68,389,665			68,391,638
Share-based compensation (in shares)						1,972,955
Preferred stock dividends waiver								7,387,808			7,387,808
Noncontrolling interest										(6,748,302)	(6,748,302)
Net loss									(800,047,339)		(800,047,339)
Balance, ending at Jun. 30, 2023	$ 1		$ 1,210	$ 363		$ 86,763	$ 17,126	1,950,179,828	(1,689,954,794)	91,511,517	351,842,014
Balance, ending (in shares) at Jun. 30, 2023	1,036		1,210,056	363,097		86,762,748	17,125,589
Balance, beginning at Mar. 31, 2023	$ 2		$ 1,209	$ 363		$ 14,031	$ 659	1,550,147,736	(1,381,096,561)	94,079,643	263,147,082
Balance, beginning (in shares) at Mar. 31, 2023	1,426		1,210,056	363,098		14,031,253	658,918
Cashless warrant exercise						$ 45,022	$ 16,467	190,121,819			190,183,308
Cashless warrant exercise (in shares)						45,021,915	16,466,671
Issuance of preferred stock, common stock and prefunded warrants in lieu of preferred stock				$ 273,364		$ 25,374		196,525,115			196,823,853
Issuance of preferred stock, common stock and prefunded warrants in lieu of preferred stock (in shares)				273,363,635		25,373,502
Issuance of common stock for conversion of preferred stock	$ (1)		$ 1	$ (273,364)		$ 1,215		272,149
Issuance of common stock for conversion of preferred stock (in shares)	(390)			(273,363,636)		1,215,123
Share-based compensation						$ 1,121		13,126,134			13,127,255
Share-based compensation (in shares)						1,120,955
Preferred stock dividends								(13,125)			(13,125)
Noncontrolling interest										(2,568,126)	(2,568,126)
Net loss									(308,858,233)		(308,858,233)
Balance, ending at Jun. 30, 2023	$ 1		$ 1,210	$ 363		$ 86,763	$ 17,126	$ 1,950,179,828	$ (1,689,954,794)	$ 91,511,517	$ 351,842,014
Balance, ending (in shares) at Jun. 30, 2023	1,036		1,210,056	363,097		86,762,748	17,125,589

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flows from Operating Activities
Net loss before accrued preferred dividends and noncontrolling interest	$ (806,795,641)	$ (485,517,181)
Adjustments to reconcile net loss attributable to shareholders to net cash used in operating activities:
Depreciation and amortization	10,991,239	918,855
Stock-based compensation	71,015,371	32,479,710
Issuance of warrants to suppliers	6,814,000
Non-cash financing loss on over-exercise of warrants	8,934,892
Revaluation of derivative liabilities	89,462,559	124,868,232
Initial recognition of derivative liabilities	504,373,115	269,344,178
Non-cash interest and other operating activities	(1,656,288)	3,879,496
Amortization of debt discount	442,091	19,584,041
Loss on asset disposal		50,574
Loss/(gain) on extinguishment of debt	6,246,089	(33,413)
Changes in operating assets and liabilities:
Other current assets	(15,319,813)	5,446,031
Other assets	1,230,337	(1,960,058)
Accounts payable	6,013,276	(2,129,901)
Accrued expenses and other liabilities	4,835,588	(10,119,169)
Deferred tax liability	(445,808)
Right of use assets and lease liabilities	231,048	(31,989)
Net cash used in operating activities	(113,627,945)	(43,220,594)
Cash Flows from Investing Activities
Purchase of equipment	(14,328,228)	(10,968,389)
Purchase of intangible assets	(204,660)	(305,043)
ELMS assets purchase	(92,916,874)
Net cash used in investing activities	(107,449,762)	(11,273,432)
Cash Flows from Financing Activities
Proceeds from issuance of notes payable	170,000,000	12,142,791
Proceeds from issuance of common stock and prefunded warrants	196,999,970	40,151,308
Proceeds from issuance of preferred stock		63,925,000
Reimbursement for over-issuance of shares	17,819,660
Proceeds from note receivable		15,000,000
Payment of notes payable	(20,685,000)	(15,655,983)
Net cash provided by financing activities	364,134,630	115,563,116
Increase in cash	143,056,923	61,069,090
Cash, cash equivalents and restricted cash, beginning of period	84,375,085	42,174
Cash, cash equivalents and restricted cash, ending of period	227,432,008	61,111,264
Supplemental disclosure of Cash Flow information:
Cash paid for interest	122,500	1,500,106
Supplemental Disclosure for Non-Cash Activities:
Refinance of indebtedness		28,867,187
Preferred shares issued in exchange for convertible debt		23,192,500
Convertible notes and interest - conversion to common stock	153,222,236	17,356,500
Exercise of warrants recognized earlier as liabilities	391,057,576	$ 420,626,121
Reclassification of derivatives to equity upon authorization of sufficient number of shares	47,818,882
Waiver of dividends by stockholders	7,387,810
Warrants issued to suppliers	6,814,000
Common stock issued to extinguish liability to issue stock	66,752,533
Extinguishment of financial liabilities by sale of property	231,958
Extinguishment of operational liabilities by sale of property	767,626
Debt conversion to common stock	1,096,787
Prepaid stock-based compensation	3,909,404
Preferred stock converted to common stock	273,364
Prefunded warrants converted to common stock	$ 250,466

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	9 Months Ended
	Jun. 30, 2023
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	NOTE 1. DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Description of Business Mullen Automotive Inc., a Delaware corporation (“MAI”, “Mullen”, “we” or the “Company”), is a Southern California-based development-stage electric vehicle company that operates in various verticals of businesses focused within the automotive industry. Mullen Automotive Inc., a California corporation (“Previous Mullen”), was originally formed on April 20 2010, as a developer and manufacturer of electric vehicle technology and operated as the Electric Vehicle (“EV”) division of Mullen Technologies, Inc. (“MTI”) until November 5, 2021, at which time Previous Mullen underwent a capitalization and corporate reorganization by way of a spin-off to its shareholders, followed by a reverse merger with and into Net Element, Inc., which was accounted for as a reverse merger transaction, in which Previous Mullen was treated as the acquirer for financial accounting purposes. (the “Merger”). The Company changed its name from “Net Element, Inc.” to “Mullen Automotive Inc” and the Nasdaq ticker symbol for the Company’s common stock changed from “NETE” to “MULN” on the Nasdaq Capital Market at the opening of trading on November 5, 2021. Reverse Stock Splits In January 2023, the Company’s stockholders, in an effort for the Company to regain compliance with NASDAQ listing rules, approved a proposal to authorize the board of directors of the Company (the “Board”) to implement a reverse stock split of the outstanding shares of the Company’s common stock at a ratio up to 1-for- 25 25 In August 2023, the Company’s stockholders approved a proposal to authorize the Board to implement a second reverse stock split of the outstanding shares of the Company’s common stock at a ratio up to 1-for- 100 9 The Company retroactively adjusted its historical financial statements to reflect the splits (See Note 10 for reverse stock split effect on loss per share). All issued and outstanding common stock and per share amounts contained in the financial statements have been adjusted to reflect the Reverse Stock Splits for all periods presented. In addition, a proportionate adjustment was made to the per share exercise price and the number of shares issuable upon the exercise and/or vesting of all warrants to purchase shares of common stock. No proportionate adjustment was made to the number of shares reserved for issuance pursuant to the Company’s 2022 Equity Incentive Plan (the “Plan”) to reflect the Reverse Stock Split as on August 3, 2023, stockholders approved an amendment to the Plan, increasing the maximum aggregate number of shares of common stock and stock equivalents available for the grant of awards under the 2022 Plan by an additional 52,000,000 shares, which amount is not subject to any decrease or increase in the number shares of common stock resulting from a stock spilt, reverse stock split, recapitalization, combination, reclassification, the payment of a stock dividend on the common stock or any other decrease in the number of such shares of common stock effected without receipt of consideration by the Company.. No fractional shares were issued in connection with the Reverse Stock Splits. All fractional shares were rounded up to the nearest whole share. The number and par value of Series A Preferred Stock, Series C Preferred Stock and Series D Preferred Stock were not affected by the Reverse Stock Splits, but their conversion ratios have been proportionally adjusted. There were no outstanding shares of Series B Preferred Stock as of the effective date of the Reverse Stock Splits. The common stock and additional paid-in-capital line items of the financial statements were adjusted to account for the Reverse Stock Splits for all periods presented (with $829,764 value of common stock decreased and additional paid-in-capital increased on October 1, 2022). Business Acquisition and Asset Purchase On September 7, 2022, the Company completed the acquisition of Bollinger Motors, Inc. which provides the Company with a medium duty truck classes 4-6, along with the B1 Sport Utility and B2 Pick Up Trucks. The purchase price was approximately $149 million in cash and stock for 60% majority controlling interest. On October 13, 2022, the U.S. Bankruptcy Court approved the acquisition of assets from electric vehicle company ELMS (Electric Last Mile Solutions) in an all-cash purchase by the Company. In the Chapter 7 approved transaction, Mullen acquired ELMS’ manufacturing plant in Mishawaka Indiana, all inventory, and intellectual property for their Class 1 and Class 3 vehicles for a total of $105 million, which includes the affirmation of approximately $10 million in vendor payables assumed and paid at closing. Indiana Segment Information Our CEO and Chairman of the Board, as the chief operating decision maker, makes decisions about resources to be acquired, allocated and utilized and assesses the performance of the Company as one operating segment. The Company’s long-lived assets are located in the United States of America. All revenue presented in these financial statements relates to contracts with customers located in the United States of America. Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "Commission"). Certain information and note disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to those rules and regulations, but we believe the disclosures made are adequate to make the information presented not misleading. In the opinion of management, all adjustments, consisting of normal and recurring adjustments, necessary for a fair presentation have been included in the condensed consolidated financial statements included herein. These statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K/A for the year ended September 30, 2022, filed with the Commission on January 30, 2023 (the “2023 10-K”) . The consolidated financial statements include the accounts of the Company and its subsidiaries, Mullen Investment Properties LLC, a Mississippi corporation, Ottava Automotive, Inc., a California corporation, Mullen Real Estate, LLC, a Delaware corporation, and Bollinger Motors Inc., a Delaware corporation. Intercompany accounts and transactions have been eliminated. The financial statements reflect the consolidated financial position and results of operations of Mullen, which have been prepared in accordance with U.S. GAAP.

LIQUIDITY, CAPITAL RESOURCES, A

LIQUIDITY, CAPITAL RESOURCES, AND GOING CONCERN CONSIDERATION	9 Months Ended
	Jun. 30, 2023
LIQUIDITY, CAPITAL RESOURCES, AND GOING CONCERN CONSIDERATION
LIQUIDITY, CAPITAL RESOURCES, AND GOING CONCERN CONSIDERATION	NOTE 2 – LIQUIDITY, CAPITAL RESOURCES, AND GOING CONCERN CONSIDERATION Going Concern The accompanying unaudited condensed consolidated financial statements have been prepared on the basis that assumes the Company will continue as a going concern which contemplates the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business. ​ The Company's principal source of liquidity consists of existing cash and restricted cash of approximately $227.4 million as of June 30, 2023. During the nine months ended June 30, 2023, the Company used approximately $113.6 million of cash for operating activities. The net working capital on June 30, 2023 was positive and amounted to approximately $65.1 million, or approximately $224.2 million after excluding derivative liabilities and liabilities to issue stock that are supposed to be settled by issuing common stock without using cash. ​ Management believes we have sufficient liquidity and working capital from operating cash up to June 2024. We will need additional capital beyond June 2024, to sustain operations. The Company may need to seek additional equity or debt financing. While the Company expects to obtain the additional capital and/or financing that may be required, there is no assurance that the Company will be successful in obtaining the necessary funds to bring its product and service offerings to market and support future operations. If the financing is not available, or if the terms of financing are less desirable than the Company expects, the Company may be forced to decrease its planned level of investment in product development or scale back its operations, which could have an adverse impact on its business and financial prospects. ​ These factors, considered in the aggregate, raise substantial doubt as to the Company’s ability to continue as a going concern. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Jun. 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Significant accounting policies are defined as those that are reflective of significant judgments and uncertainties, and potentially result in materially different results under different assumptions and conditions. Business Combination ​ Business acquisitions are accounted for in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805 “Business Combinations”. FASB ASC 805 requires the reporting entity to identify the acquirer, determine the acquisition date, recognize and measure the identifiable tangible and intangible assets acquired, the liabilities assumed and any non-controlling interest in the acquired entity, and recognize and measure goodwill or a gain from the purchase. The acquiree’s results are included in the Company’s consolidated financial statements from the date of acquisition. Assets acquired and liabilities assumed are recorded at their fair values and the excess of the purchase price over the amounts assigned is recorded as goodwill. Adjustments to fair value assessments are recorded to goodwill over the measurement period (not longer than twelve months). The acquisition method also requires that acquisition-related transaction and post-acquisition restructuring costs be charged to expense. Use of Estimates The preparation of our financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the condensed consolidated financial statements and the reported amounts of total expenses in the reporting periods. Estimates are used for, but not limited to, cash flow projections and discount rate for calculation of goodwill impairment, fair value and impairment of long-lived assets, fair value of financial instruments, depreciable lives of property and equipment, income taxes, contingencies, valuation of preferred stock and warrants. Additionally, the rates of interest on several debt agreements have been imputed where there was no stated interest rate within the original agreement. Management bases its estimates on historical experience and on various other assumptions believed to be reasonable, the results of which form the basis for carrying values of assets and liabilities and the recording of costs and expenses that are not readily apparent from other sources. The actual results may differ materially from these estimates. Risks and Uncertainties The Company operates within an industry that is subject to rapid technological change, intense competition, and serves an industry that has significant government regulations. It is subject to significant risks and uncertainties, including competitive, financial, developmental, operational, technological, required knowledge of industry governmental regulations, and other risks associated with an emerging business. Any one or combination of these or other risks could have a substantial influence on our future operations and prospects for commercial success. Please see further Risk Factors discussed in detail in our 2022 10-K. Reclassification from Other Noncurrent Assets to Property, Equipment and Leasehold Improvements, net Certain prior period amounts related to Show Room Assets in the condensed consolidated financial statements and notes thereto have been reclassified to conform to the current period presentation. These reclassifications had no impact on previously reported net income or stockholders' equity. In the Condensed Consolidated Balance Sheet as of September 30, 2022, $2,982,986, the net Show Room asset ($4,418,724 Show Room and $1,435,738 of accumulated depreciation) previously reported under Other Noncurrent Assets, has been reclassified to Property, Equipment and Leasehold Improvements, net. This reclassification is reflected in all periods presented and all comparative references in the notes to the consolidated financial statements are to the reclassified amounts (See Note 14 and Note 15). Cash and Cash Equivalents Company management considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. There were no cash equivalents at June 30, 2023 or September 30, 2022. Restricted Cash Restricted cash is funds that are not available for immediate use and must be used for a specific purpose. On June 30, 2023, the restricted cash balance was $13,419,872 includes approximately $419,872 for the refundable deposits for individuals and businesses who have made deposits for Mullen and Bollinger vehicles. Customer deposits are accounted for within other liabilities. Refundable deposits were $289,000 for the year ended September 30, 2022. Prepaid Expenses and Other Current Assets Prepaid expenses consist of various advance payments made for goods or services to be received in the future. These prepaid expenses include insurance and other contracted services requiring up-front payments. Inventory Cost of inventories is determined using the standard cost method, which approximates actual cost on a first-in first-out basis. This method includes direct materials, direct labor, and a proportionate share of manufacturing overhead costs based on normal capacity. Regular reviews are performed to identify and account for variances between the standard costs and actual costs. Any variances identified are recognized in the cost of goods sold during the period in which they occur. ​ On a quarterly basis, the Company reviews its inventory for excess quantities and obsolescence. This analysis takes into account factors such as demand forecasts, product life cycles, product development plans, and current market conditions. Provisions are made to reduce the carrying value of the inventories to their net realizable value. ​ Once inventory is written down, a new, lower-cost basis is established, and the inventory is not subsequently written up if market conditions improve. All such inventory write-downs are included as a component of cost of goods sold in the period in which the write-down occurs. Adjustments to these estimates and assumptions could impact our financial position and results of operations. ​ Property, Equipment and Leasehold Improvements, Net Property, equipment, and leasehold improvements are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated economic useful lives of the assets. Repairs and maintenance expenditures that do not extend the useful lives of related assets are expensed as incurred. Estimated Useful Lives ​ Description Life Buildings ​ 30 Years Furniture and Equipment ​ 3 to 7 Years Computer and Software ​ 1 to 5 Years Machinery and Equipment ​ 3 Leasehold Improvements ​ Shorter of the estimated useful life or the underlying lease term Vehicles ​ 5 Years Intangibles ​ 5 Years ​ Expenditures for major improvements are capitalized, while minor replacements, maintenance and repairs, which do not extend the asset lives, are charged to operations as incurred. Upon sale or disposition, the cost and related accumulated depreciation are removed from the accounts and any gain or loss is included in operations. Company management continually monitors events and changes in circumstances that could indicate that the carrying balances of its property, equipment and leasehold improvements may not be recoverable in accordance with the provisions of ASC 360, “Property, Plant, and Equipment.” Income Taxes Income taxes are recorded in accordance with ASC 740 , Income Taxes There are transactions that occur during the ordinary course of business for which the ultimate tax determination may be uncertain. At June 30, 2023 and September 30, 2022, there were no material changes to either the nature or the amounts of the uncertain tax positions. The Company’s income tax provision consists of an estimate for U.S. federal and state income taxes based on enacted rates, as adjusted for allowable credits, deductions, uncertain tax positions, changes in deferred tax assets and liabilities, and changes in the tax law. We maintain a full valuation allowance against the value of our U.S. and state net deferred tax assets because management does not believe the recoverability of the tax assets meets the “more likely than not” likelihood at June 30, 2023 and September 30, 2022. Intangible Assets, net Intangible assets consist of acquired and developed intellectual property. In accordance with ASC 350, “Intangibles—Goodwill and Others,” impaired. Intangible assets with determinate lives are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Amortizable intangible assets generally are amortized on a straight-line basis over periods up to 120 months. The costs to periodically renew our intangible assets are expensed as incurred. Impairment of Long-Lived Assets The Company periodically evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that a potential impairment may have occurred. If such events or changes in circumstances arise, the Company compares the carrying amount of the long-lived assets to the estimated future undiscounted cash flows expected to be generated by the long-lived assets. If the estimated aggregate undiscounted cash flows are less than the carrying amount of the long-lived assets, an impairment charge, calculated as the amount by which the carrying amount of the assets exceeds the fair value of the assets, is recorded. The fair value of the long-lived assets is determined based on the estimated discounted cash flows expected to be generated from the long-lived assets. Other Assets Other assets are comprised primarily of prepayments and security deposits for property leases. Extinguishment of Liabilities The Company derecognizes financial liabilities when the Company’s obligations are discharged, cancelled, or expired. Leases The Company follows the provisions of ASC 842, “Leases” Accrued Expenses Accrued expenses are expenses that have been incurred but not yet paid and are classified within current liabilities on the consolidated balance sheets. General and Administrative Expenses General and administrative (“G&A”) expenses include all other expenses incurred by us in any given period. This includes expenses such as professional fees, salaries, rent, repairs and maintenance, utilities and office expense, employee benefits, depreciation and amortization, advertising and marketing, settlements and penalties, taxes, and licenses. Advertising costs are expensed as incurred and are included in G&A expenses- other than trade show expenses which are deferred until occurrence of the future event, we expense advertising costs as incurred in accordance with ASC 720-35, “Other Expenses – Advertising Cost.” Research and Development Costs Per the Accounting Standards Codification (ASC) 730 "Research and Development," the Company recognizes in the statement of operations all associated costs as they occur. These include expenses related to the design, development, testing, and improvement of our electric vehicles and corresponding technologies. Assets with alternative future uses are capitalized and depreciated over their useful lives, with the depreciation expense reported under research and development (R&D) costs. Share-Based Compensation We account for share-based awards issued by the Company in accordance with ASC Subtopic 718-10, “Compensation – Share Compensation” Fair Value of Financial Instruments We apply fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value on a recurring basis. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities that are required to be recorded at fair value, Company management considers the principal or most advantageous market in which we would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the hierarchy as per requirements of ASC 820, “Fair value measurements” Concentrations of Business and Credit Risk We maintain cash balances in several financial institutions that are insured by either the Federal Deposit Insurance Corporation or the National Credit Union Association up to certain federal limitations, generally $250,000. At times, our cash balance may exceed these federal limitations and maintains significant cash on hand at certain of its locations. However, we have not experienced any losses in such accounts and management believes we are not exposed to any significant credit risk on these accounts. The amounts in excess of insured limits as of June 30, 2023 and September 30, 2022 are $226.4 million and $83.4 million, respectively. Recently Issued Accounting Standards Accounting standard updates issued but not yet applied were assessed and are not expected to have a material impact on our unaudited condensed consolidated financial statements.

PURCHASE OF ASSETS FROM ELMS

PURCHASE OF ASSETS FROM ELMS	9 Months Ended
	Jun. 30, 2023
PURCHASE OF ASSETS FROM ELMS
PURCHASE OF ASSETS FROM ELMS	NOTE 4 – PURCHASE OF ASSETS FROM ELMS On October 13, 2022, the United States Bankruptcy Court for the District of Delaware issued an order approving the sale for approximately $105 million to Mullen Automotive Inc. of certain assets and assumption and assignment of contracts and related liabilities of Electric Last Mile, Inc. and Electric Last Mile Solutions, Inc. (collectively, “ELMS”) pursuant to the terms and conditions of the Asset Purchase Agreement dated September 16, 2022. The ELMS asset acquisition closed on November 30, 2022, and is expected to accelerate the market introduction of our cargo van program and provide us with critical manufacturing capacity at a much lower investment than previously expected to supply the rest of our product portfolio. ELMS assets include: ● The factory in Mishawaka, Indiana, providing Mullen with the capability to produce up to 50,000 vehicles per year; ● All Intellectual Property, including all manufacturing data that is required for the assembly of the Class 1 van and Class 3 Cab Chassis; ● All inventory including finished and unfinished vehicles, part modules, component parts, raw materials, and tooling; and ● All property including equipment, machinery, supplies, computer hardware, software, communication equipment, data networks and all other data storage. The following details the allocation of purchase price by asset category for the ELMS asset purchase: ​ ​ ​ ​ ​ Asset Category ​ Fair Value Allocation Land ​ $ 1,440,000 Buildings and site improvements ​ ​ 41,287,038 Equipment ​ ​ 27,336,511 Intangible assets: engineering design ​ ​ 22,112,791 Inventory ​ ​ 13,198,692 Total Purchased Assets ​ $ 105,375,032 ​

INVENTORY

INVENTORY	9 Months Ended
	Jun. 30, 2023
INVENTORY
INVENTORY	NOTE 5 - INVENTORY The Company's inventories are stated at the lower of cost or market and consist of the following: ​ ​ ​ ​ ​ ​ June 30, 2023 Inventory ​ Work in process ​ 6,109,105 Raw materials ​ 5,804,743 Supplies ​ ​ 232,996 Total Inventory ​ $ 12,146,844 ​ ​ The cost of inventories is determined using a standard cost method, which approximates the first-in, first-out (FIFO) method. This includes direct materials, direct labor, and a share of manufacturing overhead costs. Variances between standard and actual costs are recognized in the cost of goods sold during the period in which they occur. ​ The Company regularly reviews its inventories for excess and obsolete items by assessing their net realizable value (NRV). The NRV is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. ​ During the quarter ended June 30, 2023, $809,778 of the Company's inventories was consumed for R&D activities, which was recognized as part of research and development expense in the consolidated statement of operations. In addition, cost of goods sold of $242,069 and warranty reserve of $6,600 was incurred for the inventories sold.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
	Jun. 30, 2023
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS	NOTE 6 – GOODWILL AND INTANGIBLE ASSETS As at June 30, 2023 and September 30, 2022, goodwill was $92,834,832 and $92,834,832, respectively. The goodwill pertains to the Bollinger acquisition on September 7, 2022. Goodwill is not amortized and is tested for impairment annually, or more frequently if there are indicators of impairment. Every reporting period the Company assesses qualitative factors (such as macroeconomic conditions, industry and market considerations, financial performance of the Company, entity-specific events etc.) to determine whether it is necessary to perform the quantitative goodwill impairment test. Upon the quantitative goodwill impairment test, impairment may arise to the extent carrying amount of a reporting unit that includes goodwill (i.e. Bollinger production unit) exceeds its fair value. ​ The market capitalization of the Company on June 30, 2023 was significantly lower than stockholder's equity reported on the Company's consolidated balance sheets that include Bollinger reporting unit as one of components - which could be viewed as an indicator of impairment. However, the Company believes that the significant decline in the Company’s stock price does not represent real financial position of the Company on June 30, 2023 because it is mostly determined by expected dilution of the common shares from exercise of warrants (recognized as liabilities in the consolidated balance sheets). Moreover, the Company believes it may have been the target of a market manipulation scheme involving illegal naked short selling of its common stock and has retained an independent professional firm to investigate and expose any potential wrongdoing. Furthermore, the net working capital of the Company on June 30, 2023 was positive and amounted to approximately $224 million after excluding liabilities that are supposed to be settled by own common stock and is comprised mostly of cash available for use - significantly in excess of the market capitalization. ​ The quantitative goodwill impairment test shall be performed next quarter when the Company, as prescribed by ASC 350 and ASC 805, expects to finish valuation of fair value of identifiable assets and liabilities purchased in September 2022 as part of the Bollinger acquisition. ​ Intangible assets are stated at cost, net of accumulated amortization. Patents and other identifiable intellectual property purchased as part of the Bollinger acquisition in September 2022 have been initially recognized at fair value. Intangible assets with indefinite useful lives are not amortized but instead tested for impairment. Intangible assets with finite useful lives are amortized over the period of estimated benefit using the straight-line method. The weighted average useful life of intangible assets is 9.14 years. The straight-line method of amortization represents management’s best estimate of the distribution of the economic value of the intangible assets. For the nine months ended June 30, 2023, and 2022, the Company recorded intangible asset additions of $22,443,551 (acquisitions of ELMS assets, see Note 4) and $352,601, respectively. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2023 September 30, 2022 ​ Gross ​ ​ Net Gross ​ ​ Net ​ Carrying Accumulated Carrying ​ Carrying Accumulated Carrying Finite-Lived Intangible Assets Amount ​ Amortization Amount Amount ​ Amortization Amount Website design and development ​ $ 2,660,391 ​ ​ (1,773,594) ​ $ 886,797 ​ $ 2,660,391 ​ $ (1,108,496) ​ $ 1,551,895 Intellectual property ​ 58,375,794 ​ ​ (71,182) ​ 58,304,612 ​ 58,375,794 ​ (438,581) ​ 57,937,213 Patents ​ ​ 32,391,186 ​ ​ (2,857,539) ​ ​ 29,533,647 ​ ​ 32,391,186 ​ ​ (204,109) ​ ​ 32,187,077 Engineer design - ELMS ​ ​ 22,112,791 ​ ​ (1,289,913) ​ ​ 20,822,878 ​ ​ — ​ ​ — ​ ​ — Other ​ ​ 1,820,995 ​ ​ (208,168) ​ ​ 1,612,827 ​ ​ 1,820,994 ​ ​ (16,175) ​ ​ 1,804,819 Trademark ​ 796,773 ​ ​ - ​ 796,773 ​ 466,014 ​ — ​ 466,014 Total Intangible Assets ​ $ 118,157,930 ​ $ (6,200,396) ​ $ 111,957,534 ​ $ 95,714,379 ​ $ (1,767,361) ​ $ 93,947,018 ​ Total future amortization expense for finite-lived intangible assets is as follows: ​ ​ ​ ​ ​ Years Ended June 30, Future Amortization 2023 (three months) ​ $ 1,424,909 2024 ​ 6,372,189 2025 ​ 5,707,092 2026 ​ ​ 5,707,092 2027 ​ ​ 5,707,092 Thereafter ​ 27,937,775 Total Future Amortization Expense ​ $ 52,856,149 ​ The future amortization expense does not include the net carrying amount intellectual property of $58,304,612 and trademark of $796,773, as these are not amortized. For the three and nine months ended June 30, 2023, amortization expense for the intangible assets was $913,061 and $4,433,035 and $221,699 and $667,075, for the three and nine months ended June 30, 2022,

DEBT

DEBT	9 Months Ended
	Jun. 30, 2023
DEBT
DEBT	NOTE 7 – DEBT Short and Long-Term Debt Short-term debt is generally defined as debt with principal maturities of one-year or less. Long-term debt is defined as principal maturities of one year or more. The following is a summary of our indebtedness at June 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Carrying Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid Principal ​ ​ ​ ​ ​ ​ ​ Contractual Contractual Type of Debt Balance Current Long-Term Interest Rate Maturity Matured notes ​ $ 2,398,881 ​ $ 2,398,881 ​ $ - 0.00 - 10.00% 2019 - 2021 Promissory notes ​ - ​ - ​ - NA NA Real Estate notes ​ 5,000,000 ​ 5,000,000 ​ - 8.99% 2023 - 2024 Loans and advances ​ 332,800 ​ 332,800 ​ - 0.00 - 10.00% 2016 - 2018 Less: debt discount ​ (425,574) ​ (425,574) ​ - NA NA Total Debt ​ $ 7,306,107 ​ $ 7,306,107 ​ $ — ​ ​ ​ The following is a summary of our indebtedness at September 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Carrying Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid Principal ​ ​ ​ ​ ​ ​ ​ Contractual Contractual Type of Debt Balance Current Long-Term Interest Rate Maturity Matured notes ​ $ 3,051,085 ​ $ 3,051,085 ​ $ — 0.00 - 10.00% 2019 - 2021 Promissory notes ​ 1,096,787 ​ — ​ 1,096,787 28.00% 2024 Real Estate note ​ 5,247,612 ​ 247,612 ​ 5,000,000 5.0 - 8.99% 2023 - 2024 Loan advances ​ 557,800 ​ 557,800 ​ — 0.00 - 10.00% 2016 – 2018 Less: debt discount ​ (932,235) ​ — ​ (932,235) NA NA Total Debt ​ $ 9,021,049 ​ $ 3,856,497 ​ $ 5,164,552 ​ ​ ​ Scheduled Debt Maturities The following table represents scheduled debt maturities at June 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended June 30, ​ 2023 (3 months) 2024 Total Total Debt ​ $ 2,717,804 ​ $ 4,588,303 ​ $ 7,306,107 ​ Notes and Advances In some instances, we issued convertible instruments with detachable warrants, resulting in the recognition of a debt discount, which is amortized to interest expense over the term of the relevant instrument. Debt discount amortization for the three and nine months ended June 30, 2023 and 2022, was $148,674 and $150,442,091, and $183,558 and $19,584,041, respectively. Debt discount on convertible notes with detachable warrants in amount of $150,000,000 (see below) was presented in the statement of operations as "Other financing costs - initial recognition of derivative liabilities" and in the cash flow statement – in the line item “Initial recognition of derivative liabilities”. The Company issued shares of common stock to certain creditors for the conversion of convertible notes, satisfaction of debt payments, and in settlement of indebtedness. For the nine months ended June 30, 2023, the carrying amount of indebtedness that was settled via issuance of shares of our common stock was $153,222,237 (this relates to convertible notes issued in lieu of preferred stock and relevant interest, see below). The carrying amount of indebtedness that was settled via issuance of common stock for the nine months ended June 30, 2022 was $23,192,500. NuBridge Commercial Lending LLC Promissory Note On March 7, 2022, the Company’s wholly owned subsidiary, Mullen Investment Properties, LLC entered into a Promissory Note (the “Promissory Note”) with NuBridge Commercial Lending LLC for a principal amount of $5 million. The Promissory Note bears interest at a fixed rate of 8.99% per annum and the principal amount is due March 1, 2024. Collateral for the loan includes the title to the Company’s property at 1 Greentech Drive, Tunica, MS. Under the Promissory Note, prepaid interest and issuance costs of $1,157,209 were withheld from the principal and recorded as debt discount, which is being amortized over the term of the note. As of June 30, 2023, the remaining unamortized debt discount was $425,574. Drawbridge and Amended A&R Note with Esousa On October 14, 2022, the Company entered into an Amended and Restated Secured Convertible Note and Security Agreement (the “A&R Note”) with Esousa Holdings LLC (“Esousa”), including principal of $1,032,217 (net of debt discount of $64,570) and accrued interest of $316,127 along with the liability to issue 46,667 shares of common stock (having a then carrying value of $10,710,000) and an obligation to compensate for the losses from market value decline of shares were exchanged for a new convertible note payable with a face value of $12,945,914 and 102,222 shares of common stock (having a fair value of $5,524,600), resulting in a loss on extinguishment of $6,452,170. On November 1, 2022, the A&R Note payable to Esousa, inclusive of any accrued interest, was converted into 275,769 shares of common stock. Convertible Notes On November 14, 2022, the Company entered into Amendment No. 3 (“Amendment No. 3”) to the June 7, 2022, Securities Purchase Agreement (as amended, the “Series D SPA”). The investors paid $150 million and in lieu of receiving shares of Series D Preferred Stock and Warrants, the investors received notes convertible into shares of the Company’s common stock (“Notes”) and Warrants. Amendment No. 3 further provided that the remaining $90 million of the commitment amount will be paid in the first half of 2023 in two tranches. The purchase price per share of Series D Preferred Stock will be the lower of (i) $1.27 (to be adjusted to stock splits), the closing price of the Company’s stock on the date the Securities Purchase Agreement was executed, or (ii) the closing price of the common stock on the trading day immediately preceding the respective purchase date, subject to a floor price of $0.10 per share. For no additional consideration, for every share of Series D Preferred Stock purchased, investors will receive warrants to purchase shares of common stock equal to 185% of the number of shares of Series D Preferred Stock purchased by the investors at an exercise price equal to the purchase price for shares of Series D Preferred Stock (the warrants also permit cashless exercise). The Company exercised its right and received these investments in April and June 2023, see Note 8. On November 15, 2022, the Company issued the unsecured convertible Notes aggregating $150,000,000 in lieu of Series D Preferred Stock. The Notes bear interest at 15% and are convertible into shares of common stock either: (A) at the option of the noteholder at the lower of: (i) $0.303 (to be adjusted to stock splits); or (ii) the closing price of our common stock on January 3, 2023; or (B) mandatorily on November 21, 2022 at the lower of: (i) $0.303 (to be adjusted to stock splits); or (ii) the closing price of our common stock on November 18, 2022, provided adequate unissued authorized shares were available. For each share issued upon conversion, the holders are entitled to 1.85 times as many five-year As a result, and since the Company had an insufficient number of authorized shares available to settle potential future warrant exercises, the Company recognized a derivative liability of $244,510,164 for the warrants with a corresponding increase in debt discount of $150,000,000 and interest expense of $94,510,164 (presented combined in the Statement of operations as "Other financing costs - initial recognition of derivative liabilities"). The debt discount was amortized over the term of the note through the date the convertible notes were mandatorily convertible. Accordingly, the entire amount was expensed during the nine-month period ended June 30, 2023. On November 21, 2022, principal of $59,402,877 was mandatorily converted into 981,460 shares of common stock. On December 23, 2022, the Company defaulted on the Notes by not having sufficient authorized shares to allow for both the Notes to be fully converted and the warrants to be exercised. On January 13, 2023, the Company entered into a Settlement Agreement and Release in which investors waived the default prior to February 1, 2023. In exchange, the Company granted the investors the right to purchase additional shares of Series D Preferred Stock and warrants in an amount equal to such investor’s pro rata portion of $10 million. This right expired on June 30, 2023. During February 2023, the remaining balance of the Notes (with the principal of $90,362,418) and accrued interests (in amount of $3,456,941) were converted by the holders into 1,376,155 shares of common stock. See Note 8 with regards to warrants issued upon conversion of these Notes. As of June 30, 2023, and September 30, 2022, accrued interest on outstanding notes payable was $1,479,688 and $1,374,925, respectively (relates mainly to NuBridge Commercial Lending LLC Promissory Note, see above).

WARRANTS AND OTHER DERIVATIVE L

WARRANTS AND OTHER DERIVATIVE LIABILITIES AND FAIR VALUE MEASUREMENTS	9 Months Ended
	Jun. 30, 2023
WARRANTS AND OTHER DERIVATIVE LIABILITIES AND FAIR VALUE MEASUREMENTS
WARRANTS AND OTHER DERIVATIVE LIABILITIES AND FAIR VALUE MEASUREMENTS	NOTE 8 – WARRANTS AND OTHER DERIVATIVE LIABILITIES AND FAIR VALUE MEASUREMENTS ​ ASC 825-10 defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of non-performance. ASC 825-10 establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 825-10 establishes three levels of inputs that may be used to measure fair value: ● Level 1 – Quoted prices in active markets for identical assets or liabilities. ● Level 2 – Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. ● Level 3 – Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is disclosed and is determined based on the lowest level input that is significant to the fair value measurement. Financial Instruments at Carrying Value That Approximated Fair Value Certain financial instruments that are not carried at fair value on the condensed consolidated balance sheets are carried at amounts that approximate fair value, due to their short-term nature and credit risk. These instruments include cash and cash equivalents, accounts payable, accrued liabilities, and debt. Accounts payable are short-term in nature and generally terms are due upon receipt or within 30 to 90 days. Non-Financial Assets Measured at Fair Value on a Non-Recurring Basis Non-financial assets are only required to be measured at fair value when acquired as a part of business combination or when an impairment loss is recognized. See Note 14 - Property, Equipment and Leasehold Improvements and Note 6 – Intangible assets for further information. All these valuations are based on Level 3 – Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities . Financial Liabilities Measured at Fair Value on a Recurring Basis During the nine months ended June 30, 2023, the Company had two main types of financial liabilities measured at fair value on a recurring basis: 1) Warrant liabilities (that relate to sales of Series C Preferred Stock and Series D Preferred Stock issued pursuant to Securities Purchase Agreements) recognized as liabilities due to requirements of ASC 480 as the variable number of shares to be issued upon cashless exercise is based predominantly on monetary value. Preferred C Warrants The warrants, which were exercisable for common stock, issued in connection with the sale of Series C Preferred Stock (the “Preferred C Warrants”) in accordance with the November 2021 Merger Agreement and further amendments had an exercise price per share of $8.834 (after the reverse stock splits - $1,988) and a cashless exercise option based on certain formula established by relevant contracts. The initial financial costs recorded upon the issuance of the Preferred C Warrants during the year ended September 30, 2022 was $429,883,573. This amount is comprised of $137,090,205 preferred stock discount (amortized immediately as the preferred stock does not have a stated term of life) and $292,793,368 finance costs (calculated as the difference between fair value of warrant liabilities recognized and the preferred stock discount). At each warrant exercise date and each accounting period end the warrant liability for the remaining unexercised warrants was marked-to-market value and the resulting gain or loss was recorded. On February 10, 2022, the terms of the Prior SPA Warrants were amended, resulting in a change to the calculated derived dollar amount. The effect of these changes in the amount of $32,735,345 has been accounted for as deemed dividends on preferred stock and decreased additional paid-in capital of the Company. During the year ended September 30, 2022, 186,441 (giving effect to the Reverse Stock Splits, see Note 1) Preferred C Warrants were exercised on a cashless basis resulting in the issuance of 2,369,842 shares of common stock, with a total fair market value of $554,371,539 at the date of exercise. During the quarter ended December 31, 2022, 13,215 Preferred C Warrants that remained outstanding as at September 30, 2022 were fully exercised. Preferred D Warrants In accordance with Series D Securities Purchase Agreement for every share of Series D Preferred Stock purchased, the investors received 185% (for the final voluntary $100 million investment right expiring June 30, 2023 - 110%) warrants (the “Preferred D Warrants”) exercisable for shares of common stock at an exercise price per share equal to the lower of (i) $1.27 (after the Reverse Stock Splits - $286) or (ii) the market price of common stock on the trading day immediately preceding the purchase notice date. The Preferred D Warrants are exercisable during a five-year period commencing upon issuance. The contracts for the Preferred D Warrants contain cashless exercise provisions similar to Preferred C Warrants described above. Therefore, management applied similar accounting treatment to recognition, measurement, and presentation of the warrant liabilities. In September 2022 the Company received an initial investment in amount of $35 million (exercise price per share was $0.4379, or $98.5275 after the Reverse Stock Splits) and issued to investors 79,926,925 shares of Series D preferred stock, and 26,287 Preferred D warrants (hereinafter warrants and shares of common stock are presented giving effect to the Reverse Stock Splits, see Note 1). By September 30, 2022 no Preferred D Warrants were exercised and all Preferred D Warrants remained outstanding with the fair value on September 30, 2022 in an amount of $55,398,551. During the quarter ended December 31, 2022, all initial Preferred D Warrants were exercised on a cashless basis for 1,018,217 shares of common stock. In November 2022, the Company received $150,000,000 and issued, in lieu of Series D Preferred Stock, notes convertible into shares of common stock and Preferred D warrants. As a result of the conversion of the convertible debt into shares of common stock in November 2022 and February 2023, 4,361,588 Preferred D warrants were issued. By June 30, 2023 all these Preferred D Warrants were exercised on a cashless basis for 9,366,447 shares of common stock. During April 2023 we exercised our investment rights under Series D SPA and requested an additional $45 million (exercise price per share was $0.1 or $22.5 after Reverse Stock Splits) issuing to investors: 273,363,635 Series D Preferred Stock (converted to 1,214,949 shares of common stock), 785,051 shares of common stock (in lieu of Series D Preferred Stock), and 3,700,000 Preferred D warrants (post reverse stock split). The warrant liability recognized initially amounted to $73,260,454. By June 30, 2023 all these Preferred D Warrants were exercised on a cashless basis for 14,767,200 shares of common stock (post reverse stock split). In June 2023 we exercised the second half of our investment right for $45 million (exercise price was $0.432 or $3.888 after reverse stock splits) and, in lieu of Series D Preferred Stock, investors received: 6,077,835 shares of common stock and 5,496,238 prefunded warrants exercisable for one share of common stock each, as well as 21,412,036 Preferred D Warrants. In June 2023 one of the investors exercised their investment rights and invested $7 million (exercise price per share was $0.52 or $4.68 after Reverse Stock Splits). The Company issued, in lieu of Series D Preferred Stock, 1,495,726 shares of common stock and 2,767,094 Preferred D Warrants. Final voluntary investment rights under the Series D SPA were exercised by the pool of investors in June 2023 and the Company received $100 million (exercise price per share was $0.1601, or $1.4409 after Reverse Stock Splits, for all but one of the investors, and $0.1696, or $1.5264 after Reverse Stock Splits, for one investor), issuing to investors, in lieu of Series D Preferred Stock: 18,373,082 shares of common stock and 50,815,919 prefunded warrants exercisable for one share of common stock each, as well as 76,107,900 Preferred D Warrants. The warrant liability recognized in June 2023 upon initial accounting of these investments amounted to $254,962,776. By June 30, 2023 a part of these prefunded warrants and Preferred D Warrants was exercised on a cashless basis for 46,828,038 shares of common stock (post Reverse Stock Splits). As of June 30, 2023 28,482,585 prefunded warrants (recognized in equity) exercisable into the same number of shares of common stock, as well as 89,052,573 Preferred D Warrants (recognized as liabilities) exercisable into 155,414,904 shares of common stock (recognized as liability in the consolidated balance sheets) with fair value of $150,084,173 remained outstanding and their exercise (on a cash or cashless basis) is available to investors for a period of approximately 5 years. The fair value of warrant obligations is calculated based on the number and market value of shares that can be issued upon exercise of the warrants. The number of shares to be issued in accordance with relevant agreements is variable and depends on (i) lowest closing market price of shares for 2 days before the exercise, and (i) multiplicator calculated based on Black Scholes formula where all elements, except for risk-free rate, are fixed on the investment date. Accordingly, the fair value of warrants on recognition date and on subsequent dates was estimated as a maximum of (i) Black Scholes value for cash exercise of relevant warrants and (ii) current market value of the number of shares the Company would be required to issue upon cashless warrant exercise on a relevant date in accordance with warrant contract requirements. The latter valuation, based on observable inputs (level 2), has been higher and reflects the pattern of the warrants exercise since the inception of the Series D SPA. At each warrant exercise date and each accounting period end the warrant liability for the remaining unexercised warrants was marked-to-market value and the resulting gain or loss was recorded in consolidated statement of operations as a “Gain / (loss) on derivative liability revaluation”. All the warrants mentioned in this section provide that if the Company issues or sells, enters into a definitive, binding agreement pursuant to which he Company is required to issue or sell or is deemed, pursuant to the provisions of the Warrants, to have issued or sold, any shares of common stock for a price per share lower than the exercise price then in effect, subject to certain limited exceptions, then the exercise price of the warrants shall be reduced to such lower price per share. In addition, the exercise price and the number of shares of common stock issuable upon exercise of the warrants are subject to adjustment in connection with stock splits, dividends or distributions or other similar transactions. Other derivative liabilities Other derivative liabilities recognized and remeasured subsequently at fair value correspond to convertible debentures, warrants, and preferred stock, that failed equity presentation when the Company had insufficient number of authorized shares available to settle all potential future conversion transactions. These derivative liabilities were initially recognized on November 15, 2022, when the Company entered into Amendment No. 3 to the Series D SPA (see Note 7) having an insufficient number of authorized shares of common stock available for issuance upon conversion of preferred stock and convertible notes payable and the exercise of outstanding warrants. They have been reclassified to equity upon authorization of increase of common stock available for issuance by stockholders of the Company in January, 2023. Qiantu Warrants On March 14, 2023, the Company entered into an Intellectual Property and Distribution Agreement (the “IP Agreement”) with Qiantu Motor (Suzhou) Ltd., and two of Qiantu Suzhou’s affiliates (herein “Qiantu”). Pursuant to the IP Agreement, Qiantu granted the Company the exclusive license to use certain of Qiantu’s trademarks and the exclusive right to assemble, manufacture, and sell the homologated vehicles based on the Qiantu K-50 model throughout North America and South America for a period of five years ​ As a part of consideration for the Company’s entry into the IP Agreement, the Company issued to Qiantu USA warrants to purchase up to 333,333 (giving effect to the Reverse Stock Splits, see Note 1) shares of the Company’s common stock (the “Qiantu Warrants”). ​ The warrants are exercisable at Qiantu USA’s discretion commencing at any time from September 30, 2023 up to and including September 30, 2024 at 110% of the market price of the Company’s common stock at the close of trading on the earlier of (a) when the Company completes its obligations to its Series D Preferred Stock investors; or (b) June 15, 2023. The Qiantu Warrants have anti-dilution provisions similar to those described above, but they provide for exemption for Series D Preferred Stock transactions rights and obligations that existed on the date the Qiantu Warrants were issued. ​ As it was expected that the Company may not have a sufficient number of authorized shares of common stock available for issuance during the term of the contract (up to September 2024) and the shares to be issued upon possible exercise of warrants have not been registered yet, the Qiantu Warrants were recognized at fair value on inception ($6,814,000) and on each subsequent period end. Fair value on June 30, 2023 amounted to $234,300. The difference has been recognized within gains (losses) on derivative liabilities revaluation in the consolidated statements of operations. Upon issuance of the instruments underlying the derivative liabilities and upon revaluation (immediately prior to conversion of the underlying instrument and on the balance sheet date), the Company estimated the fair value of these derivatives using the Black-Scholes Pricing Model and binomial option valuation techniques based on the following assumptions: (1) dividend yield of 0% , (2) expected annualized volatility of approximately 198% , (3) risk-free interest rate of 4.3% to 4.7% . These liabilities are classified as having significant unobservable input (level 3) in the table below. Breakdown of items recorded at fair value on a recurring basis in condensed consolidated balance sheets by levels of observable and unobservable inputs as of June 30, 2023 and on September 30, 2022 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ Quoted Prices ​ Significant ​ Significant ​ ​ ​ 2023 ​ in Active ​ Other ​ Unobservable ​ ​ ​ ​ ​ Markets for ​ Observable ​ Inputs ​ ​ ​ ​ ​ Identical Assets ​ Inputs ​ (Level 3) ​ ​ ​ ​ ​ (Level 1) ​ (Level 2) ​ ​ Derivative liability ​ $ 150,318,473 ​ $ - ​ $ 150,084,173 ​ $ 234,300 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ Quoted Prices ​ Significant ​ Significant ​ ​ ​ 2022 ​ in Active ​ Other ​ Unobservable ​ ​ ​ ​ ​ Markets for ​ Observable ​ Inputs ​ ​ ​ ​ ​ Identical Assets ​ Inputs ​ (Level 3) ​ ​ ​ ​ ​ (Level 1) ​ (Level 2) ​ ​ Derivative liability ​ $ 84,799,179 ​ $ - ​ $ 84,799,179 ​ $ - ​ A summary of all changes in warrants and other derivative liabilities is presented below: ​ ​ ​ ​ Balance, September 30, 2022 $ 84,799,179 Derivative liabilities recognized upon issuance of convertible instruments ​ 499,737,254 Derivative liability recognized upon authorized shares shortfall ​ 11,978,166 Loss / (gain) on derivative liability revaluation ​ 89,462,559 Reclassification of derivative liabilities to equity upon authorization of sufficient common shares ​ (47,818,882) Financing loss upon over-issuance of shares from warrants ​ 8,934,892 Receivables upon over-issuance of shares from warrants ​ 17,721,868 Reclassification to liability to issue shares upon unfinished warrant exercise on period end ​ (5,378,806) Conversions of warrants into common shares ​ (509,117,758) Balance, June 30, 2023 $ 150,318,473 ​ ​ ​ Balance, September 30, 2021 $ - Derivative liabilities recognized upon issuance of convertible instruments ​ 269,344,178 Loss / (gain) on derivative liability revaluation ​ 124,672,956 Conversions of warrants into common shares ​ (420,626,121) Change in agreement with warrant holders (recognized as deemed dividends) ​ 32,735,345 Balance, June 30, 2022 $ 6,126,358 ​

STOCKHOLDERS' EQUITY (DEFICIT)

STOCKHOLDERS' EQUITY (DEFICIT)	9 Months Ended
	Jun. 30, 2023
STOCKHOLDERS' EQUITY (DEFICIT)
STOCKHOLDERS' EQUITY (DEFICIT)	NOTE 9 – STOCKHOLDERS’ EQUITY (DEFICIT) Common Stock At a special meeting on January 25, 2023, stockholders approved the proposal to increase the Company’s authorized common stock capital from 1.75 billion to 5 billion shares. At June 30, 2023, the Company had 5,000,000,000 shares of common stock authorized with $0.001 par value per share. In accordance with stockholder approval, on May 4, 2023, the Company effectuated a 1-for- 25 9 The Company had 86,762,748 and 3,704,303 shares of common stock (post Reverse Stock Splits) issued outstanding The holders of common stock are entitled to one vote for each share of common stock held at all meetings of stockholders. In the event of a liquidation, dissolution or winding up of the Company, whether voluntary or involuntary, the common stockholders are entitled to receive the remaining assets following distribution of liquidation preferences, if any, to the holders of our preferred stock. The holders of common stock are not entitled to receive dividends unless declared by our Board. To date, no dividends were declared or paid to the holders of common stock. When the Company receives a warrant exercise notice or preferred stock conversion notice close to the balance sheet date, and issues relevant order to a transfer agent which is effectively exercised only after the balance sheet date, relevant shares of common stock are presented in the balance sheet as common stock owed but not issued. Preferred Stock Under the terms of our Certificate of Incorporation, the Board may determine the rights, preferences, and terms of our authorized but unissued shares of Preferred Stock. On June 30, 2023, the Company had 500,000,000 shares of Preferred Stock authorized with $0.001 par value per share. The Reverse Stock Splits (see Note 1 above) did not affect the number of shares of Preferred Stock authorized and outstanding but the conversion ratios were proportionately adjusted to decrease the number of shares of common stock to be issued as a result. Redemption Rights ​ The shares of Preferred Stock are not subject to Mandatory Redemption. The Series C and Series D Preferred Stock are voluntarily redeemable by the Company in accordance with the following schedule, provided that the issuance of shares of common stock issuable upon conversion has been registered and the registration statement remains effective: Year 1: No Redemption Year 2: Redemption at 120% of Year 3: Redemption at 115% of Year 4: Redemption at 110% of Year 5: Redemption at 105% of Year 6 and thereafter: Redemption at 100% of The Series C and Series D Preferred Stock is also redeemable at any time for a price per share equal to the Issue Price, plus all unpaid accrued and accumulated dividends on such share (whether or not declared), provided: (A) the Preferred Stock has been issued and outstanding for a period of at least one year, (B) the issuance of the shares of common stock underlying the Preferred Stock has been registered pursuant to the Securities Act and such registration remains effective, and (C) the trading price for the common stock is less than the Conversion Price for 20 trading days in any period of 30 consecutive trading days on the Nasdaq Capital Market. Dividends The holders of Series A and Series B Preferred Stock are entitled to non-cumulative dividends if declared by the Board of Directors. The holders of the Series A Preferred Stock and Series B Preferred Stock participate on a pro rata basis (on an “as converted” basis to common stock) in any cash dividend paid on common stock. No dividends have been declared or paid during the three and nine months ended June 30, 2023, and 2022 The Series C Preferred Stock originally provided for a cumulative 15.0% per annum fixed dividend on the Series C Original Issue Price plus unpaid accrued and accumulated dividends. On January 13, 2023, the Company and holders of Series C Preferred Stock entered into a waiver agreement pursuant to which such holders irrevocably waived their right to receive any and all cumulative 15.0% per annum fixed dividends on such Preferred Stock, including all unpaid accrued and accumulated dividends. An The Series D Preferred Stock bears a 15.0% per annum fixed dividend accumulated and compounded monthly, payable no later than the 5 th The Company may elect to pay dividends for any month with a payment-in-kind (“PIK”) election if (i) the shares issuable further to the PIK are subject to an effective registration statement, (ii) the Company is then in compliance with all listing requirements of NASDAQ and (iii) the average daily trading dollar volume of the Company’s common stock for 10 trading days in any period of 20 consecutive trading days on the NASDAQ is equal to or greater than $27.5 million. Liquidation, Dissolution, and Winding Up Upon the completion of a distribution pursuant to a Liquidation Event to the Series B Preferred Stock and Series C Preferred Stock, the holders of Series A Preferred Stock are entitled to receive, prior and in preference to any distribution of any proceeds to the holders of the common stock, by reason of their ownership thereof, $1.29 per share of each share of the Series A Preferred Stock (as adjusted for any stock splits, stock dividends, combinations, recapitalizations or the like with respect to the Series A Preferred Stock), plus declared but unpaid dividends on such share. “Liquidation Event” is as defined in the Certificate of Incorporation and, subject to certain exceptions, includes a sale or other disposition of all or substantially all of the Company’s assets, certain mergers, consolidations and transfers of securities, and any liquidation, dissolution or winding up of the Company. In the event of any Liquidation Event, the holders of the Series B Preferred Stock will be entitled to receive, prior and in preference to any distribution of the proceeds to the holders of the other series of Preferred Stock or the common stock by reason of their ownership thereof, an amount per share equal to the Series B Original Issue Price plus declared but unpaid dividends. Upon the completion of a distribution pursuant to a Liquidation Event prior to the Series B Preferred Stock, the holders of the Series C Preferred Stock will be entitled to receive, prior and in preference to any distribution of the proceeds to the holders of the Series A Preferred Stock or the common stock by reason of their ownership thereof, an amount per share equal to the Series C Original Issue Price plus declared but unpaid dividends. In the event of any Liquidation Event, the holders of the Series D Preferred Stock will be entitled to receive, prior and in preference to any distribution of the proceeds to the holders of the other series of Preferred Stock or the common stock by reason of their ownership thereof, an amount per share equal to the Series D Original Issue Price plus declared but unpaid dividends. Conversion Each share of Series A Preferred Stock is convertible at any time at the option of the holder into 0.444 (giving effect to the Reverse Stock Splits – see Note 1) shares of fully paid and non-assessable shares of common stock (rounding up to the nearest share). Each share of Series B Preferred Stock and each share of Series C Preferred Stock are convertible at the option of the holder at any time into such number of shares of common stock as is determined by dividing the Issue Price by the relevant Conversion Price (in each case, subject to adjustment). As of June 30, 2023, there were no shares of Series B Preferred Stock issued and outstanding. As of June 30, 2023, each share of Series C Preferred Stock is convertible into 0.004 (giving effect to the Reverse Stock Split – see Note 1) shares of fully paid and nonassessable shares of common stock (rounding up to the nearest share). Each share of Series C Preferred Stock will automatically be converted into shares of common stock at the applicable conversion rate at the time in effect immediately upon (A) the issuance of shares of common stock underlying the Series C Preferred Stock being registered pursuant to the Securities Act of 1933 and such registration remaining effective, (B) the trading price for the Company’s common stock being more than two times the Series C Conversion Price for 20 trading days in any period of 30 consecutive trading days on the Nasdaq Capital Market, and (C) the average daily trading dollar volume of the Company’s common stock during such 20 trading days is equal to or greater than $4.0 million. The Series D Preferred Stock is convertible at the option of each holder at any time into the number of shares of common stock determined by dividing the Series D Original Issue Price (plus all unpaid accrued and accumulated dividends thereon, as applicable, whether or not declared), by the Series D Conversion Price, subject to adjustment as set in the Certificate of Designation. As of June 30, 2023, each share of Series D is convertible into 0.004 (giving effect to the Reverse Stock Split – see Note 1) shares of fully paid and nonassessable shares of common stock (rounding up to the nearest share). Each share of Series D Preferred Stock will automatically be converted into shares of common stock at the applicable Conversion Rate at the time in effect immediately upon (A) the issuance of shares of Common Stock underlying the Series D Preferred Stock being registered pursuant to the Securities Act and such registration remaining effective, (B) the trading price for the Company’s common stock being more than two times the Series D Conversion Price for 20 trading days in any period of 30 consecutive trading days on the Nasdaq Capital Market, and (C) the average daily trading dollar volume of the Company’s common stock during such 20 trading days is equal to or greater than $27,500,000. Voting Rights The holders of shares of common stock and Series A, Series B and Series C Preferred Stock at all times vote together as a single class on all matters (including the election of directors) submitted to a vote of the stockholders; provided, however, that, any proposal which adversely affects the rights, preferences and privileges of the Series A Preferred Stock, Series B Preferred Stock, or Series C Preferred Stock, as applicable, must be approved by a majority in interest of the affected series of Preferred Stock, as the case may be. Each holder of common stock, Series B Preferred and Series C Preferred has right to one vote for each share of Common Stock into which such Series B Preferred Stock and/or Series C Preferred Stock, as applicable, could be converted. Each holder of Series A Preferred has the right to 1,000 votes per share held of record by such holder (this right will terminate on November 5, 2024). The holders of Series D Preferred Stock have no voting rights except for protective voting rights (one vote for each share of common stock into which such Series D Preferred Stock could be converted) in such cases as approval of a liquidation event, authorization of issue of securities having a preference over or parity with the Series D Preferred Stock with respect to dividends, liquidation, redemption or voting, entering a merger or consolidation, etc. ​

LOSS PER SHARE

LOSS PER SHARE	9 Months Ended
	Jun. 30, 2023
LOSS PER SHARE
LOSS PER SHARE	NOTE 10 – LOSS PER SHARE Earnings per common share (“EPS”) is computed by dividing net income allocated to common stockholders by the weighted-average common shares outstanding. Diluted EPS is computed by dividing income allocated to common stockholders plus dividends on dilutive convertible preferred stock and preferred stock that can be tendered to exercise warrants, by the weighted-average common shares outstanding plus amounts representing the dilutive effect of outstanding warrants and the dilution resulting from the conversion of convertible preferred stock, if applicable. For the three and nine months ended June 30, 2023 and 2022, the convertible debt and shares of Preferred Stock were excluded from the diluted share count because the result would have been antidilutive under the “if-converted method.” The warrants to purchases shares of common stock also were excluded from the computation because the result would have been antidilutive. The following table presents the reconciliation of net income attributable to common stockholders to net income used in computing basic and diluted net income per share of common stock (giving effect to the Reverse Stock Splits – see Note 1): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, Nine months ended June 30, ​ 2023 2022 ​ 2023 2022 Net income attributable to common stockholders ​ $ (308,858,234) ​ $ (4,847,151) ​ $ (800,047,339) ​ $ (485,517,181) Less: accumulated preferred stock dividends ​ ​ (13,125) ​ ​ (2,285,792) ​ ​ 7,387,811 ​ ​ (37,541,085) Net income used in computing basic net income per share of common stock ​ $ (308,871,359) ​ $ (7,132,943) ​ $ (792,659,528) ​ $ (523,058,266) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss per share ​ ​ (11.14) ​ $ (4.26) ​ $ (55.44) ​ $ (694.20) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding, basic and diluted ​ ​ 27,720,475 ​ ​ 1,674,607 ​ ​ 14,296,659 ​ ​ 753,474 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding, basic and diluted, before reverse stock splits, see Note 1 ​ ​ 6,237,106,875 ​ ​ 376,786,685 ​ ​ 3,216,748,275 ​ ​ 169,531,688 Net loss per share before reverse stock splits ​ $ (0.05) ​ $ (0.02) ​ $ (0.25) ​ $ (3.09) ​

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
	Jun. 30, 2023
SHARE-BASED COMPENSATION
SHARE-BASED COMPENSATION	NOTE 11 – SHARE-BASED COMPENSATION The Company has a share incentive plan that is part of its annual discretionary share-based compensation program. The plan includes consultants and employees, including directors and officers. For employees, they are notified of company share incentives during the onboarding process. The employee’s offer letter briefly describes the plan. Subject to the approval of our Board of Directors Compensation Committee, employees are issued a specified number of shares of the Company’s common stock. The total expense of share awards to employees represents the grant date fair value of relevant number of shares to be issued and is recognized, along with additional paid-in capital, ratably over the vesting period. The Company has also adopted the CEO Award Incentive Plan, approved by the Board and by stockholders on July 26, 2022 at the 2022 Annual Meeting of Stockholders. Under this plan, the Chief Executive Officer is entitled to share-based awards generally calculated as 1-2% of then outstanding number of shares of common stock, issuable upon achievement of specific financial and operational targets (milestones) that are supposed to significantly increase value of the Company. The compensation is accrued over the service term when it is probable that the milestone will be achieved. As at June 30, 2023 the accrual for future awards is approximately $3.4 million. From time to time the Company also issues share-based compensation to external consultants providing consulting, marketing, R&D, legal and other services. The number of shares specified within the individual agreements is generally negotiated by our Chief Executive Officer and approved by the Board. A part of these share-based awards is classified as equity, similar to stock-based compensation to employees. Another part of the Company’s share-based awards to consultants is classified as liabilities: e.g. if a number of shares consultant is entitled to is predominantly based on monetary value fixed in the contract. A vested part of liability in this case is revaluated each period based on market price of the common shares of the Company, until sufficient number of shares is issued. The common stock provided for services to consultants is accounted for as professional fees within G&A and R&D expenses and employee, director and management share issuances are a part of compensation expense. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the nine months ended June 30, ​ Composition of Share-Based Compensation Expense 2023 2022 2023 2022 ​ Directors, officers and employees share-based compensation ​ $ 3,678,278 ​ $ 96,495 ​ $ 51,329,014 ​ $ 20,049,336 ​ Share-based compensation to consultants (equity-classified) ​ ​ 903,264 ​ ​ 4,928,824 ​ ​ 7,367,107 ​ ​ 12,288,735 ​ Share-based compensation to consultants (liability-classified) ​ 6,130,462 ​ 119,344 ​ 12,319,250 ​ 141,639 ​ Total share-based compensation expense ​ $ 10,712,004 ​ $ 5,144,663 ​ $ 71,015,371 ​ $ 32,479,710 ​ ​

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	9 Months Ended
	Jun. 30, 2023
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	NOTE 12 – ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2023 September 30, 2022 Accrued Expenses and Other Liabilities ​ ​ Accrued expense - other ​ $ 5,135,333 ​ $ 3,529,384 IRS tax liability ​ ​ 187,303 ​ ​ 1,744,707 Accrued payroll ​ 1,583,056 ​ 534,782 Accrued interest ​ 1,479,688 ​ 1,377,008 Total ​ $ 8,385,380 ​ $ 7,185,881 ​

LIABILITY TO ISSUE STOCK

LIABILITY TO ISSUE STOCK	9 Months Ended
	Jun. 30, 2023
LIABILITY TO ISSUE STOCK
LIABILITY TO ISSUE STOCK	NOTE 13 – LIABILITY TO ISSUE STOCK ​ Liability to issue stock represents common stock that is accrued for and issuable at a future date for certain convertible securities and warrants and was $5,378,806 as of June 30, 2023. As of June 30, 2023 CEO share-based award liability amounted to $3,491,421. As of September 30, 2022, liability to issue common stock to Esousa was $10,710,000.

PROPERTY, EQUIPMENT AND LEASEHO

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET	9 Months Ended
	Jun. 30, 2023
PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET
PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET	NOTE 14 – PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET Property, equipment, and leasehold improvements, net consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, September 30, ​ ​ 2023 ​ 2022 Buildings ​ $ 48,120,753 ​ $ 7,659,121 Land ​ ​ 3,040,303 ​ ​ 647,576 Furniture and equipment ​ 682,798 ​ 556,948 Vehicles ​ 335,183 ​ 96,363 Show room assets ​ ​ 4,428,544 ​ ​ 4,418,724 Computer hardware and software ​ 2,016,046 ​ 1,013,308 Machinery and equipment ​ 32,070,385 ​ 7,383,612 Construction-in-progress ​ ​ 12,237,665 ​ ​ 269,778 Leasehold improvements ​ 186,341 ​ 76,438 Subtotal ​ 103,118,018 ​ 22,121,868 Less: accumulated depreciation ​ (11,367,499) ​ (4,335,166) Property, Equipment and Leasehold Improvements, net ​ $ 91,750,519 ​ $ 17,786,702 ​ Property, plant and equipment assets are stated at cost, net of accumulated depreciation. Depreciation expense related to property, equipment, and leasehold improvements for the three and nine months ended June 30, 2023, was $1,680,595 and $7,050,864, and was $86,598 and $251,780 for the three and nine months ended June 30, 2022, respectively. The ELMS asset acquisition closed on November 30, 2022 (See Note 4 – Purchase of assets from ELMS), and include property, plant, and equipment additions of: ● The Mishawaka, Indiana factory, which consisted of land and building of $1.44 million and $41.29 million, respectively; and ● All property including equipment, machinery, supplies, computer hardware, software, communication equipment, data networks and all other data storage, that totaled $27.3 million in machinery additions.

OTHER NONCURRENT ASSETS

OTHER NONCURRENT ASSETS	9 Months Ended
	Jun. 30, 2023
OTHER NONCURRENT ASSETS
OTHER NONCURRENT ASSETS	NOTE 15 – OTHER NONCURRENT ASSETS Other assets consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2023 September 30, 2022 Other Assets ​ ​ Other assets ​ $ — ​ $ 81,587 Security deposits ​ 1,010,712 ​ 281,056 Total Other Assets ​ $ 1,010,712 ​ $ 362,643 ​

OPERATING EXPENSES

OPERATING EXPENSES	9 Months Ended
	Jun. 30, 2023
OPERATING EXPENSES
OPERATING EXPENSES	NOTE 16 – OPERATING EXPENSES General and Administrative Expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Nine months ended June 30, ​ ​ ​ 2023 ​ 2022 2023 2022 ​ Professional fees $ 5,250,063 $ 4,908,855 ​ $ 51,884,123 ​ $ 31,773,409 ​ Compensation to employees and management ​ 15,133,141 ​ 3,177,790 ​ 52,147,116 ​ 10,556,783 ​ Depreciation ​ 1,680,595 ​ 86,598 ​ 7,050,864 ​ 251,780 ​ Amortization ​ ​ 913,061 ​ ​ 221,699 ​ ​ 4,433,035 ​ ​ 667,075 ​ Lease ​ 273,234 ​ 474,032 ​ 1,948,288 ​ 1,493,150 ​ Settlements and penalties ​ 2,327,286 ​ 169,607 ​ 8,592,635 ​ 1,054,439 ​ Employee benefits ​ 1,140,917 ​ 639,779 ​ 2,759,607 ​ 1,552,939 ​ Utilities and office expense ​ 996,997 ​ 202,652 ​ 2,064,100 ​ 428,565 ​ Advertising and promotions ​ 985,763 ​ 644,423 ​ 4,746,032 ​ 3,570,016 ​ Taxes and licenses ​ 120,500 ​ 8,805 ​ 372,381 ​ 25,926 ​ Repairs and maintenance ​ 302,623 ​ 167,173 ​ 684,920 ​ 246,875 ​ Executive expenses and directors' fees ​ ​ 73,759 ​ ​ — ​ ​ 363,825 ​ ​ — ​ Listing and regulatory fees ​ ​ 1,415,003 ​ ​ — ​ ​ 4,150,348 ​ ​ — ​ Other ​ 1,164,870 ​ 195,387 ​ 2,988,887 ​ 1,446,359 ​ Total ​ $ 31,777,812 ​ $ 10,896,800 ​ $ 144,186,161 ​ $ 53,067,316 ​ ​ Research and development ​ Research and development for the three months ended June 30, 2023, and 2022 was $22,088,011 and $7,324,365, respectively. Research and development for the nine months ended June 30, 2023, and 2022 was $51,188,991 and $9,665,126, respectively. Costs are expensed as incurred. Research and development expenses are primarily comprised of external fees and internal costs for engineering, homologation, prototyping costs and other expenses related to preparation to mass-production of electric vehicles such as Mullen Five EV, Mullen One EV cargo van, etc.

LEASES

LEASES	9 Months Ended
	Jun. 30, 2023
LEASES
LEASES	NOTE 17 – LEASES We have entered into various operating lease agreements for certain offices, manufacturing and warehouse facilities, and corporate aircraft. Operating leases led to recognition of right-of-use assets, and current and noncurrent portion of lease liabilities, as appropriate. The right-of-use assets also include any lease payments made and initial direct costs incurred at lease commencement and exclude lease incentives. The lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. We have lease agreements which require payments for both lease and non-lease components and have elected to account for these as a single lease component. Certain leases provide for annual increases to lease payment based on an index or rate. We calculate the present value of future lease payments based on the index or at the lease commencement date for new leases. The table below presents information regarding our lease assets and liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2023 September 30, 2022 Assets: ​ ​ ​ Operating lease right-of-use assets ​ $ 5,504,851 ​ $ 4,597,052 ​ Liabilities: ​ ​ ​ ​ Operating lease liabilities, current ​ (2,217,059) ​ (1,428,474) ​ Operating lease liabilities, non-current ​ (3,709,616) ​ (3,359,354) ​ Total lease liabilities ​ $ (5,926,675) ​ $ (4,787,828) ​ Weighted average remaining lease terms: ​ ​ ​ Operating leases ​ 2.66 years ​ 2.63 years ​ Weighted average discount rate: ​ ​ ​ Operating leases ​ 28 % 28 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease costs: ​ For the three months ended June 30, ​ For the nine months ended June 30, ​ 2023 2022 2023 2022 Fixed lease cost ​ $ 330,175 ​ $ 327,409 ​ $ 887,294 ​ $ 1,066,680 ​ Variable lease cost ​ 85,298 ​ 158,399 ​ 147,120 ​ 418,999 ​ Short-term lease cost ​ — ​ 34,473 ​ — ​ 160,250 ​ Sublease income ​ (108,127) ​ (46,144) ​ (201,875) ​ (152,431) ​ Total operating lease costs ​ $ 307,346 ​ $ 474,137 ​ $ 832,539 ​ $ 1,493,498 ​ ​ Operating Lease Commitments Our lease obligations are based upon contractual minimum rates. Most leases provide that we pay taxes, maintenance, insurance and operating expenses applicable to the premises. The initial term for most real property leases is typically 1 to 3 years, with renewal options of 1 to 5 years, and may include rent escalation clauses. The following table reflects maturities of operating lease liabilities at June 30, 2023: ​ ​ ​ ​ ​ Years ending ​ June 30, ​ ​ 2023 (3 months) $ 874,278 2024 ​ 3,074,497 2025 ​ 2,423,880 2026 ​ 610,913 2027 ​ 417,425 Thereafter ​ 115,668 Total lease payments ​ $ 7,516,661 Less: imputed interest ​ (1,589,986) Present value of lease liabilities ​ $ 5,926,675 ​

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Jun. 30, 2023
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 18 – COMMITMENTS AND CONTINGENCIES ASC 450.20 governs the disclosure and recognition of loss contingencies, including potential losses from litigation, regulation, tax and other matters. The accounting standard defines a “loss contingency” as “an existing condition, situation, or set of circumstances involving uncertainty as to possible loss to an entity that will ultimately be resolved when one or more future events occur or fail to occur.” ASC 450 requires accrual for a loss contingency when it is probable that one or more future events will occur confirming the fact of loss and the amount of the loss can be reasonably estimated. Under this standard an event is probable when it is likely to occur. ​ From time to time, we are subject to asserted and actual claims and lawsuits arising in the ordinary course of business. Company management reviews any such legal proceedings and claims on an ongoing basis and follows appropriate accounting guidance when making accrual and disclosure decisions. We establish accruals for those contingencies where the incurrence of a loss is probable and can be reasonably estimated, and disclose the amount accrued and the amount of a reasonably possible loss in excess of the amount accrued, if such disclosure is necessary for our consolidated financial statements to not be misleading. As required by ASC 450 we do not record liabilities when the likelihood is probable, but the amount cannot be reasonably estimated. To estimate whether a loss contingency should be accrued by a charge to income, management evaluates, among other factors, the degree of probability of an unfavorable outcome and the ability to make a reasonable estimate of the amount of the loss. ​ DBI Lease Buyback Servicing LLC, Drawbridge Investments LLC v. Mullen Automotive Inc. ​ In June 2022, Mullen entered into a letter agreement with DBI Lease Buyback Servicing LLC (“DBI”) wherein it agreed to provide DBI with a right to purchase up to $25 million worth of a to-be-issued Series E Convertible Preferred Stock and warrants. The option and its terms have not been finalized. ​ On March 2, 2023, DBI and Drawbridge Investments LLC (collectively, “Drawbridge”) filed a complaint in the Commercial Division of the Supreme Court of the State of New York, County of New York against Mullen. The complaint asserts three claims arising out of an alleged Series E option agreement by which Drawbridge allegedly would be able to purchase to-be-created Series E preferred shares and obtain warrants for Mullen’s common stock in exchange for, inter alia, a $3.5 million discount on a promissory note held by Drawbridge. Specifically, Drawbridge asserts claims for: (1) specific performance of the alleged agreement; (2) money damages (in an amount exceeding $100 million) arising out of Mullen’s alleged breach of the alleged agreement; and (3) declaratory judgment setting forth Drawbridge’s rights and Mullen’s obligations under the alleged agreement. ​ Drawbridge also commenced an action by Order to Show Cause (“OSC”) whereby it, inter alia, sought a temporary restraining order (“TRO”) (a) enjoining Mullen from (i) increasing the number of designated shares for any outstanding stock and (ii) issuing new preferred stock; and (b) requiring Mullen to maintain at least 500,000,000 in authorized common stock (post reverse splits). On March 14, 2023, the Court vacated the TRO and entered an Order on March 15, 2023 whereby the TRO was vacated and denied. At the April 18, 2023 hearing for the preliminary injunctive relief sought by Drawbridge in the OSC and after reviewing Mullen’s opposition and hearing oral argument from both sides, the Court reserved decision on Drawbridge’s motion. ​ Mullen moved to dismiss the complaint, with prejudice, on May 9, 2023. The Motion to Dismiss (“MTD”) was fully submitted on or about June 27, 2023. The Court has not scheduled oral argument on Mullen’s MTD and it is currently sub judice. The Company does not have a reasonable estimate of possible loss (if any) as of June 30, 2023. ​ Mullen Technologies Inc. v. Qiantu Motor (Suzhou) Ltd. This matter arises out of a contract dispute between Mullen and Qiantu Motor (Suzhou) Ltd. (“Qiantu”) related to the engineering, design, support, and homologation of Qiantu’s K50 vehicle by Mullen. ​ On March 14, 2023, the parties entered into a Settlement Agreement providing for full settlement of all pending litigation between Mullen and Qiantu. The parties also released all claims against each other arising from or in connection with the matters and claims that were subject to the legal proceedings. Pursuant to the Settlement Agreement, (1) the parties agreed to enter into an IP Agreement (as defined and described below) and (2) in connection with the settlement of the Legal Proceedings and for the privilege of entering into the IP Agreement, the Mullen paid $6 million to Qiantu. In connection with the execution of the Settlement Agreement, on March 14, 2023, Mullen entered into an Intellectual Property and Distribution Agreement ( “IP Agreement”) with Qiantu, and two of Qiantu’s affiliates (collectively “Qiantu”). Pursuant to the IP Agreement, Qiantu granted Mullen the exclusive license to use certain of Qiantu’s trademarks and the exclusive right to assemble, manufacture, and sell the homologated vehicles based on the Qiantu K-50 model throughout North America (including Canada, Mexico, and the United States of America) and South America for a period of five (5) years, which period does not start until Mullen has successfully homologated vehicles based on terms of the IP Agreement ( “Five Year Period”). During the Five-Year Period, Mullen is also obligated to purchase a certain number of vehicle kits every year from Qiantu. These rights shall be obtained and the commitment shall only be effective upon Mullen’s assessment of feasibility and profitability of the project within 150 days as provided for by the IP Agreement. As consideration for Mullen’s entry into the IP Agreement, (1) Mullen issued to Qiantu USA warrants to purchase up to 333,333 shares of Mullen’s common stock (the “Qiantu Warrants”) as described below; (2) Mullen additionally paid Qiantu $2,000,000 for deliverable items under the IP Agreement; and (3) in exchange, Mullen will pay Qiantu a royalty fee of $1,200 for each homologated vehicle sold in North America and South America during the term of the IP Agreement. The Qiantu Warrants were issued upon execution of the IP Agreement and are exercisable at Qiantu USA’s discretion commencing at any time from September 30, 2023 up to and including September 30, 2024 at 110% of the market price of Mullen’s common stock at the close of trading on the earlier of (a) when Mullen completes its obligations to its Series D Preferred Stock investors; or (b) June 15, 2023 (for more information on the warrants, see note 8). As Mullen continues analysis of the homologation costs, Mullen believes it would be in its best interest to also acquire licensing rights in additional territories. In that regard, the Mullen is currently in negotiations with Qiantu for the licensing rights to the European territory. International Business Machines (“IBM”) This claim was filed in the Supreme Court of the State of New York on May 7, 2019. This matter arises out of a contract dispute between Mullen and IBM related to a joint development and technology license agreement, patent license agreement, and a logo trademark agreement. On November 9, 2021, the court, pursuant to an inquest order, awarded damages in favor of IBM and on December 1, 2021, the court entered a judgment in favor of IBM in the amount of $5,617,192. On February 2, 2022, IBM filed a Motion to Amend the Judgment it had obtained to add Mullen Automotive and Ottava as Judgment Debtors. Mullen filed an Appeal on April 8, 2022. A settlement was reached in which Mullen paid the full amount of the Judgment with interest, for a total of approximately $5.9 million, but maintained its Appeal rights. IBM then filed a Motion to Dismiss the Appeal based on Mullen’s payment of the Judgment. Mullen filed an Opposition to the same on July 18, 2022, and the hearing of the matter was set for July 25, 2022. The Court took the same under submission, and a decision has still not been issued. The Appeal remains pending. The GEM Group On September 21, 2021, the GEM Group filed an arbitration demand and statement of claim against Mullen seeking declaratory relief and damages. This matter arises out of an alleged breach of a securities purchase agreement dated November 13, 2020. On June 7, 2023, the arbitrator held oral argument on issues related to liability. The arbitrator has not yet issued his decision on issues related to liability. Briefing and oral argument on issues of damages, if necessary, will be schedule after the arbitrator issues its decision on liability. ​ On June 13, 2023, the GEM Group requested a procedural order seeking “Interim Measures” based on its belief that Mullen may not be able to satisfy its obligations should the Arbitrator rule in the GEM Group’s favor. The arbitrator, despite Mullen’s objections, authorized the GEM Group to file an application. On July 12, 2023, the GEM Group filed an Application for Interim Award Relief. Mullen filed its response on July 19, 2023. On August 3, 2023, the arbitrator issued his Decision and Order on Application for Interim Measures requiring Mullen to deposit $7,000,000 into an interest-bearing escrow account with a commercial bank or brokerage firm within 30 days of his Decision and Order. All interest earned on the escrow account shall become the property of the party determined by the arbitration to be the principal and the amounts held in escrow shall only be released upon further order of the arbitrator, a court of competent jurisdiction, or by agreement of the parties. ​ The Company does not have a reasonable estimate of possible loss (if any) as of June 30, 2023. ​ TOA Trading LLC Litigation This claim arises out of an alleged breach of contract related to an unpaid finder’s fee. On April 11, 2022, TOA Trading LLC and Munshibari LLC (“Plaintiffs”), filed a complaint against Mullen in the United States District Court for the Southern District of Florida. On May 18, 2022, Mullen filed a Motion to Dismiss or in the Alternative, Transfer Venue. Plaintiffs filed their opposition on June 1, 2022 and Mullen filed its reply on June 8, 2022. The court took the Motion to Dismiss or in the Alternative, Transfer Venue under submission. Plaintiffs filed a Notification of Ninety Days Expiring on February 1, 2023 notifying the court that Mullen’s Motion to Dismiss or in the Alternative, Transfer Venue had been fully briefed for a period of time exceeding 90 days. On March 22, 2023, the Court issued a ruling denying Mullen’s Motion to Dismiss or in the Alternative, Transfer Venue. Accordingly, Mullen filed its Answer to Plaintiffs’ complaint on April 7, 2023. The Parties have engaged in written and oral discovery. Mediation is scheduled for September 7, 2023. Trial is set for February 12, 2024. The Company does not have a reasonable estimate of possible loss as of June 30, 2023. Mullen Stockholder Litigation Margaret Schaub v. Mullen Automotive, Inc. – Securities Class Action On May 5, 2022, Plaintiff Margaret Schaub, a purported stockholder, filed a putative class action complaint in the United States District Court Central District of California against Mullen Automotive, Inc. (the “Company”), as well as its Chief Executive Officer, David Michery, and the Chief Executive Officer of a predecessor entity, Oleg Firer (the “Schaub Lawsuit”). This lawsuit was brought by Schaub both individually and on behalf of a putative class of the Company’s shareholders, claiming false or misleading statements regarding the Company’s business partnerships, technology, and manufacturing capabilities, and alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (“Exchange Act”) and Rule 10b-5 promulgated thereunder. The Schaub Lawsuit seeks to certify a putative class of shareholders, and seeks monetary damages, as well as an award of reasonable fees and expenses. On August 4, 2022, the Court issued an order consolidating the Schaub Lawsuit with the later-filed Gru Lawsuit (discussed below), and appointing lead plaintiff and lead counsel. On September 23, 2022, Lead Plaintiff filed her Consolidated Amended Class Action Complaint (“Amended Complaint”) against the Company, Mr. Michery, and the Company’s predecessor, Mullen Technologies, Inc., premised on the same purported violations of the Exchange Act and Rule 10b-5, seeking to certify a putative class of shareholders, and seeking an award of monetary damages, as well as reasonable fees and expenses. Defendants filed their motion to dismiss the Amended Complaint on November 22, 2022. Based upon information presently known to management, the Company believes that the potential liability from this claim, if any, will not have a material adverse effect on its financial condition, cash flows or results of operations. Therefore, no liability has been reflected on the condensed consolidated financial statements. David Gru v. Mullen Automotive, Inc. On May 12, 2022, David Gru, a purported stockholder, filed a putative class action lawsuit in the United States District Court for the Central District of California against the Company, Mr. Michery, and Mr. Firer (the “Gru Lawsuit”). This lawsuit was brought by Gru both individually and on behalf of a putative class of the Company’s shareholders, claiming false or misleading statements regarding the Company’s business partnerships, technology, and manufacturing capabilities, and alleging violations of Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5. The Gru Lawsuit sought to declare the action to be a class action, and sought monetary damages, pre-judgment and post-judgment interest, as well as an award of reasonable fees and expenses. On August 4, 2022, the Court consolidated this action into the Schaub Lawsuit, and ordered this action administratively closed. ​ Jeff Witt v. Mullen Automotive, Inc. On August 1, 2022, Jeff Witt and Joseph Birbigalia, purported stockholders, filed a derivative action in the United States District Court for the Central District of California against the Company as a nominal defendant, Mr. Michery, Mr. Firer, and current or former Company directors Ignacio Novoa, Mary Winter, Kent Puckett, Mark Betor, William Miltner and Jonathan New (the “Witt Lawsuit”). The Witt lawsuit asserts claims for breach of fiduciary duty, unjust enrichment, abuse of control, waste of corporate assets, and violation of Section 14 of the Exchange Act primarily in connection with the issues and claims asserted in the Schaub Lawsuit. The Witt Lawsuit seeks monetary damages, as well as an award of reasonable fees and expenses. ​ On November 8, 2022, the Court consolidated this matter and the Morsy Lawsuit (see below) into one case, and on November 30, 2022 stayed the consolidated derivative action pending (1) dismissal of the consolidated securities class action (the Schaub Lawsuit discussed above), or (2) the filing of an answer in the consolidated securities class action and notice by any party that they no longer consent to the voluntary stay of this consolidated derivative action. The case currently remains stayed. ​ Based upon information presently known to management, the Company believes that the potential liability from this claim, if any, will not have a material adverse effect on its financial condition, cash flows or results of operations. Therefore, no liability has been reflected on the condensed consolidated financial statements. ​ Hany Morsy v. David Michery, et al. On September 30, 2022, Hany Morsy, a purported stockholder, filed a derivative action in the United States District Court for the Central District of California against the Company as a nominal defendant, Mr. Michery, Mr. Firer, former Company officer and director, Jerry Alban, and Company directors Mr. Novoa, Ms. Winter, Mr. Puckett, Mr. Betor, Mr. Miltner, and Mr. New (the “Morsy Lawsuit”). This lawsuit asserts claims for breach of fiduciary duty, abuse of control, gross mismanagement, waste of corporate assets, and violation of Section 14 of the Exchange Act primarily in connection with the issues and claims asserted in the Schaub Lawsuit. The Morsy Lawsuit seeks to direct the Company to improve its corporate governance and internal procedures, and seeks monetary damages, pre-judgment and post-judgment interest, restitution, and an award of reasonable fees and expenses. On November 8, 2022, the Court consolidated this matter and the Witt Lawsuit (see above) into one case, and stayed the consolidated action (as discussed above). Based upon information presently known to management, the Company believes that the potential liability from this claim, if any, will not have a material adverse effect on its financial condition, cash flows or results of operations. Therefore, no liability has been reflected on the condensed consolidated financial statements . Thomas Robbins v. David Michery, et al.; Patrick V.P. Foley, Jr. and Jeffrey Pudlinski v. David Michery, et al. ​ On December 7, 2022, Thomas Robbins, a purported stockholder, filed a putative stockholder class action complaint for declaratory and injunctive relief in the Court of Chancery of the State of Delaware against the Company, Mr. Michery, and current or former Company directors Mr. Novoa, Ms. Winter, Mr. Betor, Mr. Anderson, Mr. Miltner, Mr. Puckett, and Mr. New (the “Robbins Lawsuit”). On December 13, 2022, a second putative stockholder class action was filed in the Court of Chancery, styled as Foley v. Michery, et al., (the “Foley Lawsuit” and, together with the Robbins Lawsuit, the “Stockholder Actions”). The Stockholder Actions seek declaratory and injunctive relief related to the vote on a series of proposal at a special meeting of Company stockholders that was held on December 23, 2022, and asserts claims for breach of fiduciary duty against all Company directors (except Mr. New). The consolidated lawsuit also seeks an award of fees and costs related to this action. ​ On December 16, 2022, the Court entered a limited status quo order in the Robbins Lawsuit (the “Status Quo Order”), with respect to the vote of shares at the Company’s December 23, 2022, special meeting (or any adjournment thereof), pending final disposition of this action. On January 5, 2023, the Court consolidated the Robbins Lawsuit with the Foley Lawsuit, appointing lead plaintiffs and lead counsel. On February 3, 2023, the Court entered an order dismissing the consolidated action as moot and retaining jurisdiction to adjudicate any application for attorneys’ fees and expenses by lead plaintiffs, as well as the form of notice to stockholders relating to any fee application or agreed-upon fee. ​ On March 10, 2023, lead plaintiffs moved for an award of attorneys’ fees and expenses. On June 1, 2023, the Court entered an order awarding lead plaintiffs $1,004,731 in attorneys’ fees and expenses. The Company satisfied the award on June 30, 2023. ​ Chosten Caris v. David Michery ​ On April 27, 2023, Chosten Caris, a purported stockholder, filed a complaint against Mr. Michery in the Eighth Judicial Circuit In and For Alachua County, Florida (the “Caris Lawsuit”). This lawsuit purports to seek damages for claims arising under Section 10(b) of the Exchange Act and Rule 10b-5 promulgated thereunder. The Caris Lawsuit also seeks punitive damages. On May 17, 2023, Mr. Michery removed the Caris Lawsuit to the United States District Court for the Northern District of Florida. Mr. Michery filed a Motion to Dismiss (“MTD”) the Caris Lawsuit on June 20, 2023. ​ On July 21, 2023, Plaintiff filed a document entitled “Conclusion” and another entitled “Memorandum Summary.” The court, on July 25, 2023, entered an order in response to Plaintiff’s “Conclusion” advising that the document did not constitute a sufficient filing because it was not in the proper format, did not include a certificate of service, was not signed, and was not responsive to the MTD. The court additionally, expanded Plaintiff’s deadline to respond to the MTD from July 21, 2023 to August 8, 2023 and deferred its ruling on the MTD as a result of the extended filing deadline. ​ On July 26, 2023, Plaintiff filed a document entitled “Plaintiff’s Demand” requesting certain relief from the court. The court, on July 28, 2023, issued an order denying “Plaintiff’s Demand”, advising that no action will be taken on Plaintiff’s July 21, 2023 “Memorandum Summary”, and further deferring a ruling on the MTD. Plaintiff filed his response to the MTD on August 3, 2023. No reply is permitted in this court. To date, the court has not issued an order with respect to the MTD. ​ Based upon information presently known to management, the Company believes that the potential liability from this claim, if any, will not have a material adverse effect on its financial condition, cash flows or results of operations. Therefore, no liability has been reflected on the condensed consolidated financial statements. ​

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Jun. 30, 2023
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 19 – RELATED PARTY TRANSACTIONS Related Party Note Receivable Prior to its Merger on November 5, 2021, Previous Mullen operated as a division of Mullen Technologies, Inc. (“MTI”). Subsequent to the corporate reorganization, the Company has provided management and accounting services to MTI. On March 31, 2023, the Company entered a note receivable with the related party for the principal amount of $1,388,405 plus all accrued interest to the noteholder on March 31, 2025. The borrower may prepay the loan without any penalty or premium. The loan carries an annual interest rate of 10%, which may increase to 15% if the borrower defaults on any payment. As of June 30, 2023, the principal amount is $1,834,496 and the accrued interest is $41,516. These receivables are presented in non-current assets under receivable from related party in these condensed consolidated balance sheets. Director Provided Services William Miltner William Miltner is a litigation attorney who provides legal services to Mullen Automotive and its subsidiaries. Mr. Miltner also is an elected Director for the Company, beginning his term in August 2021. For the three and nine months ended June 30, 2023, Mr. Miltner received $161,687 and $864,343, for services rendered, respectively. For the three and nine months ended June 30, 2022, for services rendered, $178,640 and $804,120, respectively. Mr. Miltner has been providing legal services to us since 2020. Mary Winter On October 26, 2021, the Company entered into a 1-year

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Jun. 30, 2023
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 20 – SUBSEQUENT EVENTS Company management has evaluated subsequent events through August 14, 2023, which is the date these condensed consolidated financial statements were available to be issued. Results of Annual Stockholders Meeting ​ An annual meeting of stockholders was convened on August 3, 2023, with several key decisions being ratified (except for Proposal 4): ​ ● Two Class II Directors were elected for a three-year term concluding in 2026 (Proposal 1). ● Amendments to the 2022 Equity Incentive Stock Plan were approved, resulting in an increase of the authorized issuance by 52,000,000 shares (not subject to adjustment for any decrease or increase in the number shares of common stock resulting from a stock spilt, reverse stock split, recapitalization, combination, reclassification, the payment of a stock dividend on the common stock or any other decrease in the number of such shares of common stock effected without receipt of consideration by the Company) (Proposal 2). ● An amendment to the Company’s Certificate of Incorporation to effect a reverse stock split at a ratio ranging from 1 -for-2 to 1 -for-100 was approved (Proposal 3). ● The conversion of Mullen Automotive Inc. from a Delaware Corporation to a Maryland Corporation was not approved (at a ratio ranging from 1 -for-2 to 1 -for-100). ● On an advisory basis, the compensation of named executive officers was approved (Proposal 5). ● On an advisory basis, the frequency for future votes on the compensation of named executive officers was approved for every three years (Proposal 6). ● The issuance of shares of common stock to our Chief Executive Officer, Mr. Michery, under the 2023 Performance Stock Award Agreement, was approved, subject to the achievement of certain milestones, in compliance with Nasdaq Listing Rule 5635(d), (see below) (Proposal 7). ● Amendments were approved, in compliance with Nasdaq Listing Rule 5635(d) to a securities purchase agreement, enabling the issuance of $7 million in additional shares and warrants, exercisable into shares of Common Stock, and any future adjustments of the exercise price of the warrants (Proposal 8). ● The appointment of RBSM LLP as the independent registered public accounting firm for the fiscal year ending September 30, 2023 was ratified (Proposal 9). ​ 2023 Performance Stock Award to the CEO ​ The new 2023 Performance Stock Award (PSA) Agreement approved by the Board and stockholders of the Company, provides the Company's CEO, Mr. Michery (the “CEO”), with an opportunity to earn equity awards subject to achievement of specific milestones: ● Vehicle Completion Milestones: The CEO is eligible for awards when he procures full USA certification and homologation for the Class Three Van by December 2023, the Bollinger B1 SUV by June 2025, and the Bollinger B2 Pick Up Truck by June 2025. Each achievement corresponds to 3% of Mullen’s current total issued and outstanding shares. ● Revenue Benchmark Milestones: These are tied to every $25 million of revenue recognized by the Company, up to a total of $250 million. Each revenue benchmark reached corresponds to 1% of Mullen’s current total issued and outstanding shares. ● Battery Development Milestones: These are triggered by the development of new and advanced battery cells and their scaling to the vehicle pack level for specific vehicles by December 2024. Each achievement corresponds to 2% of Mullen’s current total issued and outstanding shares. ● JV-Acquisition Milestones: The CEO is awarded upon the Company's acquisition of a majority interest in an enterprise that manufactures or provides beneficial products to the Company. Each acquisition corresponds to 3% of Mullen’s current total issued and outstanding shares. ● Accelerated Development Milestone: This is triggered by the acquisition of a facility with existing equipment that expedites the scaling of battery pack production in the USA, corresponding to 2% of Mullen’s current total issued and outstanding shares. The Company believes these equity incentives align the CEO’s interests with those of the stockholders and promote the Company's business plans. The CEO also has outstanding potential awards from the 2022 PSA Agreement, contingent on meeting the milestones specified in that plan (see Note 11). ​ Compensation for Non-employee Directors ​ Effective July 1, 2023, the Company’s Board of Directors approved the following compensation for non-employee directors for service on the Board and its committees: ​ ● Each non-employee director will receive $50,000 annually as a cash retainer for their Board service, with additional annual cash retainers of (i) $5,000 for each member of the Company’s Compensation Committee or Nominating and Corporate Governance Committee; (ii) $7,500 for the Chairman of the Compensation Committee or Nominating and Corporate Governance Committee; (iii) $10,000 for each member of the Audit Committee; (iv) $45,000 for the chair of the Audit Committee; and (v) $25,000 to the Lead Independent Director. All cash retainers are paid quarterly in arrears. ● Additionally, each non-employee director shall receive an annual stock award under the Company’s equity plan equal to $100,000 divided by the closing trading price of the Company’s Common Stock on the date of each such grant. ● The non-employee directors are entitled to reimbursement of ordinary, necessary, and reasonable out-of-pocket travel expenses incurred in connection with attending in-person meetings of the Board or committees thereof. In the event non-employee directors are required to attend greater than four in-person meetings or 15 telephonic meetings during any fiscal year, such non-employee directors will be entitled to additional compensation in the amount of $500 for each additional telephonic meeting beyond the 15 telephonic meeting threshold, and $1,000 for each additional in-person meeting beyond the four in-person meeting threshold. ​ Change in Control Agreements ​ On August 11, 2023, the Board of Directors approved, and the Company entered, Change in Control Agreements with each non-employee director and David Michery, its Chief Executive Officer. Pursuant to the Change in Control Agreements with each non-employee director, upon a change in control of the Company, any unvested equity compensation will immediately vest in full and such non-employee director will receive $5 million. Pursuant to the Agreement with Mr. Michery, upon a change in control of the Company, any unvested equity compensation will immediately vest in full and Mr. Michery will receive an aggregate percentage of the transaction proceeds as follows: 10% of the transaction proceeds that are up to and including $1 billion; plus an additional 5% of transaction proceeds that are more than $1 billion and up to $1.5 billion; and an additional 5% of transaction proceeds that are more than $1.5 billion. A change in control, as defined in the agreements occurs upon (i) any person becoming the beneficial owner of 50% or more of the total voting power of the Company’s then outstanding voting securities, (ii) a change in the composition of the Board, as a result of which fewer than a majority of the directors are Incumbent Directors (as defined in the Change in Control Agreements), or (iii) the consummation of a merger or consolidation of the Company (except when the total voting power of the Company continues to represent at least 50% of the surviving entity), any liquidation, or the sale or disposition by the Company of all or substantially all of its assets. ​ $25 Million Stock Buyback Program ​ On July 6, 2023, the Board of Directors (the "Board") of the Company authorized a stock buyback program, pursuant to which the Company may, until Dec. 31, 2023, purchase up to $25 million in shares of its outstanding common stock. The shares may be repurchased, from time to time, in the open market or in privately negotiated transactions depending upon market conditions and other factors, and in accordance with applicable regulations of the Securities and Exchange Commission (the “SEC”). The authorization of the stock buyback program does not obligate the Company to purchase any shares and may be terminated or amended by the Board at any time prior to its expiration date. The purchases under the stock buyback program have not commenced by these consolidated financial statements release date. ​ Reverse Stock Split ​ On August 11, 2023, the Company effected a 1 ​ Exercise of Warrants ​ After the balance sheet date, the Company issued 97,405,972 shares of common stock due to the exercise of prefunded warrants and Preferred D Warrants (see Note 8). ​ Mullen Advanced Energy Operations LLC ​ On April 17, 2023, the Company entered into a binding Letter of Agreement with Lawrence Hardge, Global EV Technology, Inc., and EV Technology, LLC (collectively, “EVT”) to partner on a device known as a Battery Life Enhancing Technology. The parties formed a new corporation called Mullen Advanced Energy Operations to develop, manufacture, market, sell, lease, distribute, and service all products resulting from the technology. The Company holds a 51% equity interest in MAEO, and EVT holds a 49% equity interest. EVT was supposed to license the technology and intellectual property rights to MAEO and assign all rights to governmental and other contracts relating to the technology. The Company paid Mr. Hardge an upfront payment of $50,000 and an additional $5.0 million payment was due upon execution of definitive agreements and completion of IP assignment. ​ On July 10, 2023, the Company issued a notice terminating the Agreement dated April 17, 2023. The termination notice, which was sent after numerous attempts by the Company to obtain adherence by EVT to the terms of the Agreement, references several breaches by EVT including (1) failing to execute documents evidencing an irrevocable, royalty free, worldwide exclusive license to the Technology and IP, in perpetuity, to MAEO, (2) refusing to conduct any tests of the Technology at a Mullen approved facility after the LOA, (3) repeatedly refusing to honor the terms of the Mutual Non-Disclosure Agreement signed April 14, 2023, and (4) failing to disclose all claims or threatened legal actions by any third parties related to the Technology. ​

RESTATEMENT

RESTATEMENT	9 Months Ended
	Jun. 30, 2023
RESTATEMENT
RESTATEMENT	NOTE 21 - RESTATEMENT Prior to the initial issuance of the Company's financial statements for the year ended September 30, 2022, management determined that the warrants issued with the preferred stock did not meet the conditions for equity classification, requiring liability treatment and measured at fair value. In addition, management also discovered that it did not reflect the impact of amendments that resulted in modifications in privileges for the warrants issued with the Series C Preferred Stock, which should have been accounted for as a deemed dividend at the time of modification. Further, management prematurely recorded the option to issue shares of Series E Preferred Stock. The following table summarizes the impacts of these error corrections on the Company's financial statements for the three and nine months ended June 30, 2022, respectively, presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ii. Statement of operations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impact of correction of error - quarter ​ ​ ​ ​ ​ Impact of correction of error - year to date ​ ​ ​ ​ Quarter ended June 30, 2022 (Unaudited) As previously Adjustments As restated As previously Adjustments As restated ​ ​ reported ​ ​ ​ ​ ​ reported ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss from operations ​ (18,221,165) ​ - ​ (18,221,165) ​ (62,732,442) ​ - ​ (62,732,442) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other financing costs - initial recognition of warrants at fair value ​ - ​ - ​ - ​ - ​ (269,344,177) ​ (269,344,177) Gain / (loss) on derivative liability revaluation ​ 3,045,000 ​ 31,538,523 ​ 34,583,523 ​ 3,045,000 ​ (110,750,006) ​ (107,705,006) Incentive fee to creditor for transfer of note payable ​ (23,085,886) ​ 23,085,886 ​ - ​ (23,085,886) ​ 23,085,886 ​ - Others ​ (21,209,509) ​ - ​ (21,209,509) ​ (45,735,556) ​ - ​ (45,735,556) Other income (expense) ​ (41,250,395) ​ 54,624,409 ​ 13,374,014 ​ (65,776,442) ​ (357,008,297) ​ (422,784,739) Net loss ​ (59,471,560) ​ 54,624,409 ​ (4,847,151) ​ (128,508,884) ​ (357,008,297) ​ (485,517,181) Deemed dividend on preferred stock ​ (2,285,792) ​ - ​ (2,285,792) ​ (4,805,740) ​ (32,735,345) ​ (37,541,085) Net loss attributable to common stockholders ​ (61,757,352) ​ 54,624,409 ​ (7,132,943) ​ (133,314,624) ​ (389,743,642) ​ (523,058,266) Loss per share ​ (36.88) ​ ​ ​ (4.26) ​ (176.93) ​ ​ ​ (694.20) Weighted average common shares outstanding (after reverse stock splits, see Note 1) ​ 1,674,607 ​ ​ ​ 1,674,607 ​ 753,474 ​ ​ ​ 753,474 ​

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Jun. 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Business Combination	Business Combination ​ Business acquisitions are accounted for in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805 “Business Combinations”. FASB ASC 805 requires the reporting entity to identify the acquirer, determine the acquisition date, recognize and measure the identifiable tangible and intangible assets acquired, the liabilities assumed and any non-controlling interest in the acquired entity, and recognize and measure goodwill or a gain from the purchase. The acquiree’s results are included in the Company’s consolidated financial statements from the date of acquisition. Assets acquired and liabilities assumed are recorded at their fair values and the excess of the purchase price over the amounts assigned is recorded as goodwill. Adjustments to fair value assessments are recorded to goodwill over the measurement period (not longer than twelve months). The acquisition method also requires that acquisition-related transaction and post-acquisition restructuring costs be charged to expense.
Use of Estimates	Use of Estimates The preparation of our financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the condensed consolidated financial statements and the reported amounts of total expenses in the reporting periods. Estimates are used for, but not limited to, cash flow projections and discount rate for calculation of goodwill impairment, fair value and impairment of long-lived assets, fair value of financial instruments, depreciable lives of property and equipment, income taxes, contingencies, valuation of preferred stock and warrants. Additionally, the rates of interest on several debt agreements have been imputed where there was no stated interest rate within the original agreement. Management bases its estimates on historical experience and on various other assumptions believed to be reasonable, the results of which form the basis for carrying values of assets and liabilities and the recording of costs and expenses that are not readily apparent from other sources. The actual results may differ materially from these estimates.
Risks and Uncertainties	Risks and Uncertainties The Company operates within an industry that is subject to rapid technological change, intense competition, and serves an industry that has significant government regulations. It is subject to significant risks and uncertainties, including competitive, financial, developmental, operational, technological, required knowledge of industry governmental regulations, and other risks associated with an emerging business. Any one or combination of these or other risks could have a substantial influence on our future operations and prospects for commercial success. Please see further Risk Factors discussed in detail in our 2022 10-K.
Reclassification from Other Noncurrent Assets to Property, Equipment and Leasehold Improvements, net	Reclassification from Other Noncurrent Assets to Property, Equipment and Leasehold Improvements, net Certain prior period amounts related to Show Room Assets in the condensed consolidated financial statements and notes thereto have been reclassified to conform to the current period presentation. These reclassifications had no impact on previously reported net income or stockholders' equity. In the Condensed Consolidated Balance Sheet as of September 30, 2022, $2,982,986, the net Show Room asset ($4,418,724 Show Room and $1,435,738 of accumulated depreciation) previously reported under Other Noncurrent Assets, has been reclassified to Property, Equipment and Leasehold Improvements, net. This reclassification is reflected in all periods presented and all comparative references in the notes to the consolidated financial statements are to the reclassified amounts (See Note 14 and Note 15).
Cash and Cash Equivalents	Cash and Cash Equivalents Company management considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. There were no cash equivalents at June 30, 2023 or September 30, 2022.
Restricted Cash	Restricted Cash Restricted cash is funds that are not available for immediate use and must be used for a specific purpose. On June 30, 2023, the restricted cash balance was $13,419,872 includes approximately $419,872 for the refundable deposits for individuals and businesses who have made deposits for Mullen and Bollinger vehicles. Customer deposits are accounted for within other liabilities. Refundable deposits were $289,000 for the year ended September 30, 2022.
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets Prepaid expenses consist of various advance payments made for goods or services to be received in the future. These prepaid expenses include insurance and other contracted services requiring up-front payments.
Inventory	Inventory Cost of inventories is determined using the standard cost method, which approximates actual cost on a first-in first-out basis. This method includes direct materials, direct labor, and a proportionate share of manufacturing overhead costs based on normal capacity. Regular reviews are performed to identify and account for variances between the standard costs and actual costs. Any variances identified are recognized in the cost of goods sold during the period in which they occur. ​ On a quarterly basis, the Company reviews its inventory for excess quantities and obsolescence. This analysis takes into account factors such as demand forecasts, product life cycles, product development plans, and current market conditions. Provisions are made to reduce the carrying value of the inventories to their net realizable value. ​ Once inventory is written down, a new, lower-cost basis is established, and the inventory is not subsequently written up if market conditions improve. All such inventory write-downs are included as a component of cost of goods sold in the period in which the write-down occurs. Adjustments to these estimates and assumptions could impact our financial position and results of operations.
Property, Equipment and Leasehold Improvements, Net	Property, Equipment and Leasehold Improvements, Net Property, equipment, and leasehold improvements are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated economic useful lives of the assets. Repairs and maintenance expenditures that do not extend the useful lives of related assets are expensed as incurred. Estimated Useful Lives ​ Description Life Buildings ​ 30 Years Furniture and Equipment ​ 3 to 7 Years Computer and Software ​ 1 to 5 Years Machinery and Equipment ​ 3 Leasehold Improvements ​ Shorter of the estimated useful life or the underlying lease term Vehicles ​ 5 Years Intangibles ​ 5 Years ​ Expenditures for major improvements are capitalized, while minor replacements, maintenance and repairs, which do not extend the asset lives, are charged to operations as incurred. Upon sale or disposition, the cost and related accumulated depreciation are removed from the accounts and any gain or loss is included in operations. Company management continually monitors events and changes in circumstances that could indicate that the carrying balances of its property, equipment and leasehold improvements may not be recoverable in accordance with the provisions of ASC 360, “Property, Plant, and Equipment.”
Income Taxes	Income Taxes Income taxes are recorded in accordance with ASC 740 , Income Taxes There are transactions that occur during the ordinary course of business for which the ultimate tax determination may be uncertain. At June 30, 2023 and September 30, 2022, there were no material changes to either the nature or the amounts of the uncertain tax positions. The Company’s income tax provision consists of an estimate for U.S. federal and state income taxes based on enacted rates, as adjusted for allowable credits, deductions, uncertain tax positions, changes in deferred tax assets and liabilities, and changes in the tax law. We maintain a full valuation allowance against the value of our U.S. and state net deferred tax assets because management does not believe the recoverability of the tax assets meets the “more likely than not” likelihood at June 30, 2023 and September 30, 2022.
Intangible Assets, net	Intangible Assets, net Intangible assets consist of acquired and developed intellectual property. In accordance with ASC 350, “Intangibles—Goodwill and Others,” impaired. Intangible assets with determinate lives are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Amortizable intangible assets generally are amortized on a straight-line basis over periods up to 120 months. The costs to periodically renew our intangible assets are expensed as incurred. Impairment of Long-Lived Assets The Company periodically evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that a potential impairment may have occurred. If such events or changes in circumstances arise, the Company compares the carrying amount of the long-lived assets to the estimated future undiscounted cash flows expected to be generated by the long-lived assets. If the estimated aggregate undiscounted cash flows are less than the carrying amount of the long-lived assets, an impairment charge, calculated as the amount by which the carrying amount of the assets exceeds the fair value of the assets, is recorded. The fair value of the long-lived assets is determined based on the estimated discounted cash flows expected to be generated from the long-lived assets.
Other Assets	Other Assets Other assets are comprised primarily of prepayments and security deposits for property leases.
Extinguishment of Liabilities	Extinguishment of Liabilities The Company derecognizes financial liabilities when the Company’s obligations are discharged, cancelled, or expired.
Leases	Leases The Company follows the provisions of ASC 842, “Leases”
Accrued Expenses	Accrued Expenses Accrued expenses are expenses that have been incurred but not yet paid and are classified within current liabilities on the consolidated balance sheets.
General and Administrative Expenses	General and Administrative Expenses General and administrative (“G&A”) expenses include all other expenses incurred by us in any given period. This includes expenses such as professional fees, salaries, rent, repairs and maintenance, utilities and office expense, employee benefits, depreciation and amortization, advertising and marketing, settlements and penalties, taxes, and licenses. Advertising costs are expensed as incurred and are included in G&A expenses- other than trade show expenses which are deferred until occurrence of the future event, we expense advertising costs as incurred in accordance with ASC 720-35, “Other Expenses – Advertising Cost.”
Research and Development Costs	Research and Development Costs Per the Accounting Standards Codification (ASC) 730 "Research and Development," the Company recognizes in the statement of operations all associated costs as they occur. These include expenses related to the design, development, testing, and improvement of our electric vehicles and corresponding technologies. Assets with alternative future uses are capitalized and depreciated over their useful lives, with the depreciation expense reported under research and development (R&D) costs.
Share-Based Compensation	Share-Based Compensation We account for share-based awards issued by the Company in accordance with ASC Subtopic 718-10, “Compensation – Share Compensation”
Fair Value of Financial Instruments	Fair Value of Financial Instruments We apply fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value on a recurring basis. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities that are required to be recorded at fair value, Company management considers the principal or most advantageous market in which we would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the hierarchy as per requirements of ASC 820, “Fair value measurements”
Concentrations of Business and Credit Risk	Concentrations of Business and Credit Risk We maintain cash balances in several financial institutions that are insured by either the Federal Deposit Insurance Corporation or the National Credit Union Association up to certain federal limitations, generally $250,000. At times, our cash balance may exceed these federal limitations and maintains significant cash on hand at certain of its locations. However, we have not experienced any losses in such accounts and management believes we are not exposed to any significant credit risk on these accounts. The amounts in excess of insured limits as of June 30, 2023 and September 30, 2022 are $226.4 million and $83.4 million, respectively.
Recently Issued Accounting Standards	Recently Issued Accounting Standards Accounting standard updates issued but not yet applied were assessed and are not expected to have a material impact on our unaudited condensed consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Jun. 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of Property, Equipment and Leasehold Improvements, Net Useful Lives	​ Description Life Buildings ​ 30 Years Furniture and Equipment ​ 3 to 7 Years Computer and Software ​ 1 to 5 Years Machinery and Equipment ​ 3 Leasehold Improvements ​ Shorter of the estimated useful life or the underlying lease term Vehicles ​ 5 Years Intangibles ​ 5 Years

PURCHASE OF ASSETS FROM ELMS (T

PURCHASE OF ASSETS FROM ELMS (Tables)	9 Months Ended
	Jun. 30, 2023
PURCHASE OF ASSETS FROM ELMS
Schedule of allocation of purchase price by asset category	​ ​ ​ ​ ​ Asset Category ​ Fair Value Allocation Land ​ $ 1,440,000 Buildings and site improvements ​ ​ 41,287,038 Equipment ​ ​ 27,336,511 Intangible assets: engineering design ​ ​ 22,112,791 Inventory ​ ​ 13,198,692 Total Purchased Assets ​ $ 105,375,032

INVENTORY (Tables)

INVENTORY (Tables)	9 Months Ended
	Jun. 30, 2023
INVENTORY
Schedule Of inventories	​ ​ ​ ​ ​ ​ June 30, 2023 Inventory ​ Work in process ​ 6,109,105 Raw materials ​ 5,804,743 Supplies ​ ​ 232,996 Total Inventory ​ $ 12,146,844

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	9 Months Ended
	Jun. 30, 2023
GOODWILL AND INTANGIBLE ASSETS
Schedule of finite lived intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2023 September 30, 2022 ​ Gross ​ ​ Net Gross ​ ​ Net ​ Carrying Accumulated Carrying ​ Carrying Accumulated Carrying Finite-Lived Intangible Assets Amount ​ Amortization Amount Amount ​ Amortization Amount Website design and development ​ $ 2,660,391 ​ ​ (1,773,594) ​ $ 886,797 ​ $ 2,660,391 ​ $ (1,108,496) ​ $ 1,551,895 Intellectual property ​ 58,375,794 ​ ​ (71,182) ​ 58,304,612 ​ 58,375,794 ​ (438,581) ​ 57,937,213 Patents ​ ​ 32,391,186 ​ ​ (2,857,539) ​ ​ 29,533,647 ​ ​ 32,391,186 ​ ​ (204,109) ​ ​ 32,187,077 Engineer design - ELMS ​ ​ 22,112,791 ​ ​ (1,289,913) ​ ​ 20,822,878 ​ ​ — ​ ​ — ​ ​ — Other ​ ​ 1,820,995 ​ ​ (208,168) ​ ​ 1,612,827 ​ ​ 1,820,994 ​ ​ (16,175) ​ ​ 1,804,819 Trademark ​ 796,773 ​ ​ - ​ 796,773 ​ 466,014 ​ — ​ 466,014 Total Intangible Assets ​ $ 118,157,930 ​ $ (6,200,396) ​ $ 111,957,534 ​ $ 95,714,379 ​ $ (1,767,361) ​ $ 93,947,018
Schedule of future amortization expense for finite-lived intellectual property	​ ​ ​ ​ ​ Years Ended June 30, Future Amortization 2023 (three months) ​ $ 1,424,909 2024 ​ 6,372,189 2025 ​ 5,707,092 2026 ​ ​ 5,707,092 2027 ​ ​ 5,707,092 Thereafter ​ 27,937,775 Total Future Amortization Expense ​ $ 52,856,149

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Jun. 30, 2023
DEBT
Schedule of indebtedness of short term and long term debt	The following is a summary of our indebtedness at June 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Carrying Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid Principal ​ ​ ​ ​ ​ ​ ​ Contractual Contractual Type of Debt Balance Current Long-Term Interest Rate Maturity Matured notes ​ $ 2,398,881 ​ $ 2,398,881 ​ $ - 0.00 - 10.00% 2019 - 2021 Promissory notes ​ - ​ - ​ - NA NA Real Estate notes ​ 5,000,000 ​ 5,000,000 ​ - 8.99% 2023 - 2024 Loans and advances ​ 332,800 ​ 332,800 ​ - 0.00 - 10.00% 2016 - 2018 Less: debt discount ​ (425,574) ​ (425,574) ​ - NA NA Total Debt ​ $ 7,306,107 ​ $ 7,306,107 ​ $ — ​ ​ ​ The following is a summary of our indebtedness at September 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net Carrying Value ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid Principal ​ ​ ​ ​ ​ ​ ​ Contractual Contractual Type of Debt Balance Current Long-Term Interest Rate Maturity Matured notes ​ $ 3,051,085 ​ $ 3,051,085 ​ $ — 0.00 - 10.00% 2019 - 2021 Promissory notes ​ 1,096,787 ​ — ​ 1,096,787 28.00% 2024 Real Estate note ​ 5,247,612 ​ 247,612 ​ 5,000,000 5.0 - 8.99% 2023 - 2024 Loan advances ​ 557,800 ​ 557,800 ​ — 0.00 - 10.00% 2016 – 2018 Less: debt discount ​ (932,235) ​ — ​ (932,235) NA NA Total Debt ​ $ 9,021,049 ​ $ 3,856,497 ​ $ 5,164,552 ​ ​
Scheduled Debt Maturities	The following table represents scheduled debt maturities at June 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended June 30, ​ 2023 (3 months) 2024 Total Total Debt ​ $ 2,717,804 ​ $ 4,588,303 ​ $ 7,306,107

WARRANTS AND OTHER DERIVATIVE_2

WARRANTS AND OTHER DERIVATIVE LIABILITIES AND FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Jun. 30, 2023
WARRANTS AND OTHER DERIVATIVE LIABILITIES AND FAIR VALUE MEASUREMENTS
Schedule of fair value of derivative liability on recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ Quoted Prices ​ Significant ​ Significant ​ ​ ​ 2023 ​ in Active ​ Other ​ Unobservable ​ ​ ​ ​ ​ Markets for ​ Observable ​ Inputs ​ ​ ​ ​ ​ Identical Assets ​ Inputs ​ (Level 3) ​ ​ ​ ​ ​ (Level 1) ​ (Level 2) ​ ​ Derivative liability ​ $ 150,318,473 ​ $ - ​ $ 150,084,173 ​ $ 234,300 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ Quoted Prices ​ Significant ​ Significant ​ ​ ​ 2022 ​ in Active ​ Other ​ Unobservable ​ ​ ​ ​ ​ Markets for ​ Observable ​ Inputs ​ ​ ​ ​ ​ Identical Assets ​ Inputs ​ (Level 3) ​ ​ ​ ​ ​ (Level 1) ​ (Level 2) ​ ​ Derivative liability ​ $ 84,799,179 ​ $ - ​ $ 84,799,179 ​ $ -
A summary of the changes in derivative liability	​ ​ ​ ​ Balance, September 30, 2022 $ 84,799,179 Derivative liabilities recognized upon issuance of convertible instruments ​ 499,737,254 Derivative liability recognized upon authorized shares shortfall ​ 11,978,166 Loss / (gain) on derivative liability revaluation ​ 89,462,559 Reclassification of derivative liabilities to equity upon authorization of sufficient common shares ​ (47,818,882) Financing loss upon over-issuance of shares from warrants ​ 8,934,892 Receivables upon over-issuance of shares from warrants ​ 17,721,868 Reclassification to liability to issue shares upon unfinished warrant exercise on period end ​ (5,378,806) Conversions of warrants into common shares ​ (509,117,758) Balance, June 30, 2023 $ 150,318,473 ​ ​ ​ Balance, September 30, 2021 $ - Derivative liabilities recognized upon issuance of convertible instruments ​ 269,344,178 Loss / (gain) on derivative liability revaluation ​ 124,672,956 Conversions of warrants into common shares ​ (420,626,121) Change in agreement with warrant holders (recognized as deemed dividends) ​ 32,735,345 Balance, June 30, 2022 $ 6,126,358

LOSS PER SHARE (Tables)

LOSS PER SHARE (Tables)	9 Months Ended
	Jun. 30, 2023
LOSS PER SHARE
Schedule of computation of basic and diluted net income per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, Nine months ended June 30, ​ 2023 2022 ​ 2023 2022 Net income attributable to common stockholders ​ $ (308,858,234) ​ $ (4,847,151) ​ $ (800,047,339) ​ $ (485,517,181) Less: accumulated preferred stock dividends ​ ​ (13,125) ​ ​ (2,285,792) ​ ​ 7,387,811 ​ ​ (37,541,085) Net income used in computing basic net income per share of common stock ​ $ (308,871,359) ​ $ (7,132,943) ​ $ (792,659,528) ​ $ (523,058,266) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss per share ​ ​ (11.14) ​ $ (4.26) ​ $ (55.44) ​ $ (694.20) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding, basic and diluted ​ ​ 27,720,475 ​ ​ 1,674,607 ​ ​ 14,296,659 ​ ​ 753,474 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average shares outstanding, basic and diluted, before reverse stock splits, see Note 1 ​ ​ 6,237,106,875 ​ ​ 376,786,685 ​ ​ 3,216,748,275 ​ ​ 169,531,688 Net loss per share before reverse stock splits ​ $ (0.05) ​ $ (0.02) ​ $ (0.25) ​ $ (3.09)

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Jun. 30, 2023
SHARE-BASED COMPENSATION
Schedule of composition of stock-based compensation expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the three months ended June 30, ​ For the nine months ended June 30, ​ Composition of Share-Based Compensation Expense 2023 2022 2023 2022 ​ Directors, officers and employees share-based compensation ​ $ 3,678,278 ​ $ 96,495 ​ $ 51,329,014 ​ $ 20,049,336 ​ Share-based compensation to consultants (equity-classified) ​ ​ 903,264 ​ ​ 4,928,824 ​ ​ 7,367,107 ​ ​ 12,288,735 ​ Share-based compensation to consultants (liability-classified) ​ 6,130,462 ​ 119,344 ​ 12,319,250 ​ 141,639 ​ Total share-based compensation expense ​ $ 10,712,004 ​ $ 5,144,663 ​ $ 71,015,371 ​ $ 32,479,710 ​

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	9 Months Ended
	Jun. 30, 2023
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Schedule of accrued expenses and other current liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2023 September 30, 2022 Accrued Expenses and Other Liabilities ​ ​ Accrued expense - other ​ $ 5,135,333 ​ $ 3,529,384 IRS tax liability ​ ​ 187,303 ​ ​ 1,744,707 Accrued payroll ​ 1,583,056 ​ 534,782 Accrued interest ​ 1,479,688 ​ 1,377,008 Total ​ $ 8,385,380 ​ $ 7,185,881

PROPERTY, EQUIPMENT AND LEASE_2

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET (Tables)	9 Months Ended
	Jun. 30, 2023
PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET
Schedule of property and equipment, net	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, September 30, ​ ​ 2023 ​ 2022 Buildings ​ $ 48,120,753 ​ $ 7,659,121 Land ​ ​ 3,040,303 ​ ​ 647,576 Furniture and equipment ​ 682,798 ​ 556,948 Vehicles ​ 335,183 ​ 96,363 Show room assets ​ ​ 4,428,544 ​ ​ 4,418,724 Computer hardware and software ​ 2,016,046 ​ 1,013,308 Machinery and equipment ​ 32,070,385 ​ 7,383,612 Construction-in-progress ​ ​ 12,237,665 ​ ​ 269,778 Leasehold improvements ​ 186,341 ​ 76,438 Subtotal ​ 103,118,018 ​ 22,121,868 Less: accumulated depreciation ​ (11,367,499) ​ (4,335,166) Property, Equipment and Leasehold Improvements, net ​ $ 91,750,519 ​ $ 17,786,702

OTHER NONCURRENT ASSETS (Tables

OTHER NONCURRENT ASSETS (Tables)	9 Months Ended
	Jun. 30, 2023
OTHER NONCURRENT ASSETS
Schedule of other assets	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2023 September 30, 2022 Other Assets ​ ​ Other assets ​ $ — ​ $ 81,587 Security deposits ​ 1,010,712 ​ 281,056 Total Other Assets ​ $ 1,010,712 ​ $ 362,643

OPERATING EXPENSES (Tables)

OPERATING EXPENSES (Tables)	9 Months Ended
	Jun. 30, 2023
OPERATING EXPENSES
Schedule of Operating Expenses	General and Administrative Expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Nine months ended June 30, ​ ​ ​ 2023 ​ 2022 2023 2022 ​ Professional fees $ 5,250,063 $ 4,908,855 ​ $ 51,884,123 ​ $ 31,773,409 ​ Compensation to employees and management ​ 15,133,141 ​ 3,177,790 ​ 52,147,116 ​ 10,556,783 ​ Depreciation ​ 1,680,595 ​ 86,598 ​ 7,050,864 ​ 251,780 ​ Amortization ​ ​ 913,061 ​ ​ 221,699 ​ ​ 4,433,035 ​ ​ 667,075 ​ Lease ​ 273,234 ​ 474,032 ​ 1,948,288 ​ 1,493,150 ​ Settlements and penalties ​ 2,327,286 ​ 169,607 ​ 8,592,635 ​ 1,054,439 ​ Employee benefits ​ 1,140,917 ​ 639,779 ​ 2,759,607 ​ 1,552,939 ​ Utilities and office expense ​ 996,997 ​ 202,652 ​ 2,064,100 ​ 428,565 ​ Advertising and promotions ​ 985,763 ​ 644,423 ​ 4,746,032 ​ 3,570,016 ​ Taxes and licenses ​ 120,500 ​ 8,805 ​ 372,381 ​ 25,926 ​ Repairs and maintenance ​ 302,623 ​ 167,173 ​ 684,920 ​ 246,875 ​ Executive expenses and directors' fees ​ ​ 73,759 ​ ​ — ​ ​ 363,825 ​ ​ — ​ Listing and regulatory fees ​ ​ 1,415,003 ​ ​ — ​ ​ 4,150,348 ​ ​ — ​ Other ​ 1,164,870 ​ 195,387 ​ 2,988,887 ​ 1,446,359 ​ Total ​ $ 31,777,812 ​ $ 10,896,800 ​ $ 144,186,161 ​ $ 53,067,316 ​

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Jun. 30, 2023
LEASES
Summary of lease assets and liabilities and lease costs	The table below presents information regarding our lease assets and liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2023 September 30, 2022 Assets: ​ ​ ​ Operating lease right-of-use assets ​ $ 5,504,851 ​ $ 4,597,052 ​ Liabilities: ​ ​ ​ ​ Operating lease liabilities, current ​ (2,217,059) ​ (1,428,474) ​ Operating lease liabilities, non-current ​ (3,709,616) ​ (3,359,354) ​ Total lease liabilities ​ $ (5,926,675) ​ $ (4,787,828) ​ Weighted average remaining lease terms: ​ ​ ​ Operating leases ​ 2.66 years ​ 2.63 years ​ Weighted average discount rate: ​ ​ ​ Operating leases ​ 28 % 28 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease costs: ​ For the three months ended June 30, ​ For the nine months ended June 30, ​ 2023 2022 2023 2022 Fixed lease cost ​ $ 330,175 ​ $ 327,409 ​ $ 887,294 ​ $ 1,066,680 ​ Variable lease cost ​ 85,298 ​ 158,399 ​ 147,120 ​ 418,999 ​ Short-term lease cost ​ — ​ 34,473 ​ — ​ 160,250 ​ Sublease income ​ (108,127) ​ (46,144) ​ (201,875) ​ (152,431) ​ Total operating lease costs ​ $ 307,346 ​ $ 474,137 ​ $ 832,539 ​ $ 1,493,498 ​
Summary of maturities of operating lease liabilities	​ ​ ​ ​ ​ Years ending ​ June 30, ​ ​ 2023 (3 months) $ 874,278 2024 ​ 3,074,497 2025 ​ 2,423,880 2026 ​ 610,913 2027 ​ 417,425 Thereafter ​ 115,668 Total lease payments ​ $ 7,516,661 Less: imputed interest ​ (1,589,986) Present value of lease liabilities ​ $ 5,926,675

RESTATEMENT (Tables)

RESTATEMENT (Tables)	9 Months Ended
	Jun. 30, 2023
RESTATEMENT
Schedule of impacts of error corrections	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ii. Statement of operations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impact of correction of error - quarter ​ ​ ​ ​ ​ Impact of correction of error - year to date ​ ​ ​ ​ Quarter ended June 30, 2022 (Unaudited) As previously Adjustments As restated As previously Adjustments As restated ​ ​ reported ​ ​ ​ ​ ​ reported ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss from operations ​ (18,221,165) ​ - ​ (18,221,165) ​ (62,732,442) ​ - ​ (62,732,442) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other financing costs - initial recognition of warrants at fair value ​ - ​ - ​ - ​ - ​ (269,344,177) ​ (269,344,177) Gain / (loss) on derivative liability revaluation ​ 3,045,000 ​ 31,538,523 ​ 34,583,523 ​ 3,045,000 ​ (110,750,006) ​ (107,705,006) Incentive fee to creditor for transfer of note payable ​ (23,085,886) ​ 23,085,886 ​ - ​ (23,085,886) ​ 23,085,886 ​ - Others ​ (21,209,509) ​ - ​ (21,209,509) ​ (45,735,556) ​ - ​ (45,735,556) Other income (expense) ​ (41,250,395) ​ 54,624,409 ​ 13,374,014 ​ (65,776,442) ​ (357,008,297) ​ (422,784,739) Net loss ​ (59,471,560) ​ 54,624,409 ​ (4,847,151) ​ (128,508,884) ​ (357,008,297) ​ (485,517,181) Deemed dividend on preferred stock ​ (2,285,792) ​ - ​ (2,285,792) ​ (4,805,740) ​ (32,735,345) ​ (37,541,085) Net loss attributable to common stockholders ​ (61,757,352) ​ 54,624,409 ​ (7,132,943) ​ (133,314,624) ​ (389,743,642) ​ (523,058,266) Loss per share ​ (36.88) ​ ​ ​ (4.26) ​ (176.93) ​ ​ ​ (694.20) Weighted average common shares outstanding (after reverse stock splits, see Note 1) ​ 1,674,607 ​ ​ ​ 1,674,607 ​ 753,474 ​ ​ ​ 753,474

DESCRIPTION OF BUSINESS AND B_2

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Details) $ in Millions						1 Months Ended		9 Months Ended
	Aug. 14, 2023	May 04, 2023	Oct. 13, 2022 USD ($)	Oct. 01, 2022 shares	Sep. 07, 2022 USD ($)	Aug. 31, 2023	Jan. 31, 2023 shares	Jun. 30, 2023 segment shares
Schedule of Equity Method Investments [Line Items]
Reverse stock ratio	0.11	0.04				0.10	0.04	0.11
Reverse stock split				829,764
Fractional shares								0
Number of operating segment | segment								1
Series B Preferred Stock
Schedule of Equity Method Investments [Line Items]
Preferred Stock, shares outstanding							0	0
Equity Incentive Plan, 2022
Schedule of Equity Method Investments [Line Items]
Additional shares authorized								52,000,000
ELMS' manufacturing plant in Mishawaka Indiana, all inventory, and intellectual property for their Class 1 and Class 3 vehicles
Schedule of Equity Method Investments [Line Items]
Acquisition of assets | $			$ 105
Bollinger Motors, Inc
Schedule of Equity Method Investments [Line Items]
Total consideration | $					$ 149
Beneficial ownership					60%
Amount of vendor payables assumed and paid at closing | $			$ 10

LIQUIDITY, CAPITAL RESOURCES,_2

LIQUIDITY, CAPITAL RESOURCES, AND GOING CONCERN CONSIDERATION (Details) - USD ($)	9 Months Ended
	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2021
LIQUIDITY, CAPITAL RESOURCES, AND GOING CONCERN CONSIDERATION
Cash and restricted cash	$ 227,432,008	$ 84,375,085	$ 61,111,264	$ 42,174
Cash used in operating activities	(113,600,000)
Net working capital	65,100,000
Working capital excluding derivative liabilities	$ 224,200,000

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Equipment and Leasehold Improvements, Net (Details)	Jun. 30, 2023
Buildings
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	30 years
Furniture and equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Furniture and equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Computer hardware and software | Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Computer hardware and software | Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	1 year
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Vehicles
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Intangibles | Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($)	Jun. 30, 2023	Sep. 30, 2022
Restricted cash	$ 13,419,872	$ 30,289,400
Refundable Deposits		289,000
Refundable deposits for individuals and businesses	419,872
Property, equipment and leasehold improvements, gross	103,118,018	22,121,868
Accumulated depreciation	11,367,499	4,335,166
Property, equipment and leasehold improvements, net	91,750,519	17,786,702
Cash equivalents	0	0
Amounts in excess of insured limits	226,400,000	83,400,000
Show room assets
Property, equipment and leasehold improvements, gross	$ 4,428,544	4,418,724
Previously reported | Show room assets
Property, equipment and leasehold improvements, gross		4,418,724
Accumulated depreciation		1,435,738
Property, equipment and leasehold improvements, net		$ 2,982,986
Maximum
Amortization period	120 months

PURCHASE OF ASSETS FROM ELMS -

PURCHASE OF ASSETS FROM ELMS - Purchase price allocation (Details) - ELMS $ in Millions	Nov. 30, 2022 item	Oct. 13, 2022 USD ($)
Asset Acquisition [Line Items]
Approximate sale consideration approved | $		$ 105
Maximum number of vehicles capable to produce per year | item	50,000

PURCHASE OF ASSETS FROM ELMS _2

PURCHASE OF ASSETS FROM ELMS - Fair value allocation (Details) - ELMS	Nov. 30, 2022 USD ($)
Asset acquisition
Land	$ 1,440,000
Buildings and site improvements	41,287,038
Equipment	27,336,511
Intangible assets: engineering design	22,112,791
Inventory	13,198,692
Total Purchased Assets	$ 105,375,032

INVENTORY - Components (Details

INVENTORY - Components (Details)	Jun. 30, 2023 USD ($)
INVENTORY
Work in process	$ 6,109,105
Raw materials	5,804,743
Supplies	232,996
Total Inventories	$ 12,146,844

INVENTORY - Additional informat

INVENTORY - Additional information (Details)	3 Months Ended
	Jun. 30, 2023 USD ($)
INVENTORY
Inventories consumed for R&D activities	$ 809,778
Cost of goods sold	242,069
Warranty reserve	$ 6,600

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Goodwill (Details) - USD ($)	Jun. 30, 2023	Sep. 30, 2022
GOODWILL AND INTANGIBLE ASSETS
Goodwill	$ 92,834,832	$ 92,834,832
Net working capital	$ 224,000,000

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Intangible assets - General information (Details) - USD ($)	9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Intangible asset additions	$ 22,443,551	$ 352,601
Intellectual Property
Finite-Lived Intangible Assets [Line Items]
Weighted average Useful life	9 years 1 month 20 days

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Intangible assets - Total (Details) - USD ($)	Jun. 30, 2023	Sep. 30, 2022
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Gross Carrying Amount	$ 118,157,930	$ 95,714,379
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(6,200,396)	(1,767,361)
Net Carrying Amount	111,957,534	93,947,018
Trademarks
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Trademark	796,773	466,014
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Net Carrying Amount	796,773
Website design and development
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Gross Carrying Amount, Finite-lived	2,660,391	2,660,391
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(1,773,594)	(1,108,496)
Net Carrying Amount	886,797	1,551,895
Intellectual property
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Gross Carrying Amount, Finite-lived	58,375,794	58,375,794
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(71,182)	(438,581)
Net Carrying Amount	58,304,612	57,937,213
Patents
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Gross Carrying Amount, Finite-lived	32,391,186	32,391,186
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(2,857,539)	(204,109)
Net Carrying Amount	29,533,647	32,187,077
Engineer Design - ELMS
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Gross Carrying Amount, Finite-lived	22,112,791
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(1,289,913)
Net Carrying Amount	20,822,878
Other
Intangible Assets, Gross (Excluding Goodwill) [Abstract]
Gross Carrying Amount, Finite-lived	1,820,995	1,820,994
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(208,168)	(16,175)
Net Carrying Amount	$ 1,612,827	$ 1,804,819

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Schedule of total future amortization expense for finite-lived intellectual property (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Future Amortization Expense
2023 (three months)	$ 1,424,909		$ 1,424,909
2024	6,372,189		6,372,189
2025	5,707,092		5,707,092
2026	5,707,092		5,707,092
2027	5,707,092		5,707,092
Thereafter	27,937,775		27,937,775
Total Future Amortization	52,856,149		52,856,149
Amortization	$ 913,061	$ 221,699	$ 4,433,035	$ 667,075

DEBT - Summary of our indebtedn

DEBT - Summary of our indebtedness (Details) - USD ($)	Jun. 30, 2023	Sep. 30, 2022	Mar. 07, 2022
Debt Instrument [Line Items]
Net Carrying Value Unpaid Principal Balance	$ 7,306,107	$ 9,021,049
Current	7,306,107	3,856,497
Long-term		5,164,552
Less: debt discount	(425,574)	(932,235)
Less: debt discount (Current)	(425,574)
Less: debt discount (Long-Term)		(932,235)
Matured notes
Debt Instrument [Line Items]
Net Carrying Value Unpaid Principal Balance	2,398,881	3,051,085
Current, before debt discount	$ 2,398,881	$ 3,051,085
Matured notes | Maximum
Debt Instrument [Line Items]
Contractual Interest Rate	10%	0.10%
Matured notes | Minimum
Debt Instrument [Line Items]
Contractual Interest Rate	0%	0%
Promissory notes
Debt Instrument [Line Items]
Net Carrying Value Unpaid Principal Balance		$ 1,096,787
Long-term, before debt discount		$ 1,096,787
Contractual Interest Rate		0.28%	8.99%
Real Estate notes
Debt Instrument [Line Items]
Net Carrying Value Unpaid Principal Balance	$ 5,000,000	$ 5,247,612
Current, before debt discount	$ 5,000,000	247,612
Long-term, before debt discount		$ 5,000,000
Real Estate notes | Maximum
Debt Instrument [Line Items]
Contractual Interest Rate		8.99%
Real Estate notes | Minimum
Debt Instrument [Line Items]
Contractual Interest Rate	8.99%	5%
Loans and advances
Debt Instrument [Line Items]
Net Carrying Value Unpaid Principal Balance	$ 332,800	$ 557,800
Current, before debt discount	$ 332,800	$ 557,800
Loans and advances | Maximum
Debt Instrument [Line Items]
Contractual Interest Rate	10%	10%
Loans and advances | Minimum
Debt Instrument [Line Items]
Contractual Interest Rate	0%	0%

DEBT - Scheduled debt maturitie

DEBT - Scheduled debt maturities (Details) - USD ($)	Jun. 30, 2023	Sep. 30, 2022
Debt Maturities
2023 (3 months)	$ 2,717,804
2024	4,588,303
Net Carrying Value Unpaid Principal Balance	$ 7,306,107	$ 9,021,049

DEBT - Notes and Advances (Deta

DEBT - Notes and Advances (Details) - USD ($)			3 Months Ended		9 Months Ended
	Nov. 21, 2022	Mar. 07, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Nov. 15, 2022	Sep. 30, 2022
Promissory notes
Debt Instrument [Line Items]
Interest rate (as a percent)		8.99%						0.28%
Principal amount		$ 5
Amortization of debt discount		$ 1,157,209	$ 148,674	$ 183,558	$ 150,442,091	$ 19,584,041
Carrying amount of debt settled via issuance of stock during the period					153,222,237	$ 23,192,500
Remaining unamortized discount					425,574
Convertible notes
Debt Instrument [Line Items]
Interest rate (as a percent)							15%
Principal amount							$ 150,000,000
Debt instrument interest expense	$ 94,510,164
Debt discount on convertible notes					$ 150,000,000
Derivative liability	$ 244,510,164

DEBT - Amended and Restated Sec

DEBT - Amended and Restated Secured Convertible Note and Security Agreement (Details) - USD ($)				1 Months Ended	3 Months Ended	9 Months Ended
	Nov. 21, 2022	Nov. 01, 2022	Oct. 14, 2022	Feb. 28, 2023	Jun. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Nov. 15, 2022	Sep. 30, 2022
Debt Instrument [Line Items]
Debt discount					$ 425,574	$ 425,574			$ 932,235
Shares issued for conversion of convertible debt						1,096,787
Loss on extinguishment					206,081	(6,246,089)	$ 33,413
Debt premium						442,091	$ 19,584,041
Convertible note payable
Debt Instrument [Line Items]
Amount of debt converted	$ 59,402,877			$ 90,362,418
Debt instrument accrued interest					$ 1,479,688	$ 1,479,688			$ 1,374,925
Shares issued for conversion of convertible debt ( in shares)	981,460			1,376,155
Debt instrument interest expense	$ 94,510,164
Face amount of debt								$ 150,000,000
A&R Note | A&R Note
Debt Instrument [Line Items]
Liability to issue common shares			10,710,000
A&R Note | Esousa Holdings, LLC | A&R Note
Debt Instrument [Line Items]
Amount of debt converted			$ 1,032,217
Debt discount			64,570
Debt instrument accrued interest			$ 316,127
Liability to issue common shares			46,667
Shares issued for conversion of convertible debt			$ 12,945,914
Shares issued for conversion of convertible debt ( in shares)			102,222
Shares issued fair value			$ 5,524,600
Loss on extinguishment			$ 6,452,170
A&R Note | Esousa Holdings, LLC | Convertible note payable
Debt Instrument [Line Items]
Shares issuable upon conversion		275,769

DEBT - Convertible Notes (Detai

DEBT - Convertible Notes (Details)			1 Months Ended
	Nov. 21, 2022 USD ($) $ / shares shares	Nov. 14, 2022 USD ($) tranche $ / shares	Feb. 28, 2023 USD ($) shares	Jun. 30, 2023 USD ($) $ / shares	Jan. 13, 2023 USD ($)	Nov. 15, 2022 USD ($)	Sep. 30, 2022 USD ($) $ / shares
Debt Instrument [Line Items]
Warrants exercise price | $ / shares							$ 0.4379
Amendment No. 3 to Securities Purchase Agreement
Debt Instrument [Line Items]
Proceeds from investors in exchange for notes convertible into shares of the Company's Common Stock		$ 150,000,000
Remaining Commitment Amount, Number of tranches | tranche		2
Share Purchase Price, Floor price (in dollars per share) | $ / shares		$ 0.10
Additional consideration for issuance of warrants		$ 0
Percentage of Preferred Stock exercisable for warrants		185%
Securities Purchase Agreement
Debt Instrument [Line Items]
Warrants exercise price | $ / shares				$ 0.432
Series D Preferred Stock | Amendment No. 3 to Securities Purchase Agreement
Debt Instrument [Line Items]
Remaining Commitment Amount		$ 90,000,000
Closing price of the Common Stock | $ / shares		$ 1.27
Series D Preferred Stock | Securities Purchase Agreement
Debt Instrument [Line Items]
Value of right to purchase additional shares and warrants					$ 10,000,000
Convertible notes
Debt Instrument [Line Items]
Principal amount						$ 150,000,000
Interest rate (as a percent)						15%
Conversion ratio	1.85
Warrants term	5 years
Derivative liability	$ 244,510,164
Increase in debt discount	150,000,000
Debt instrument interest expense	94,510,164
Debt instrument accrued interest				$ 1,479,688			$ 1,374,925
Amount of debt converted	$ 59,402,877		$ 90,362,418
Accrued interests			$ 3,456,941
Shares issued for conversion of convertible debt ( in shares) | shares	981,460		1,376,155
Convertible notes | Share conversion price lower of (i) $0.303; or (ii) the closing price on November 18, 2022
Debt Instrument [Line Items]
Original issue price | $ / shares	$ 0.303

WARRANTS AND OTHER DERIVATIVE_3

WARRANTS AND OTHER DERIVATIVE LIABILITIES AND FAIR VALUE MEASUREMENTS - (Details)			1 Months Ended					3 Months Ended			9 Months Ended		12 Months Ended
	Mar. 14, 2023 USD ($) Y item shares	Feb. 10, 2022 USD ($)	Jun. 30, 2023 USD ($) $ / shares shares	Apr. 30, 2023 USD ($) $ / shares shares	Feb. 28, 2023 shares	Nov. 30, 2022 USD ($) shares	Sep. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2022 shares	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) shares	Sep. 30, 2022 USD ($) $ / shares shares	Nov. 21, 2022
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Debt premium | $											$ 442,091	$ 19,584,041
Accrued preferred dividends | $								$ (13,125)		$ (2,285,792)	7,387,811	(37,541,085)
Exercisable on a cash-less basis							0
Warrants exercise price | $ / shares							$ 0.4379						$ 0.4379
Warrants exercise price, after reverse stock splits | $ / shares							$ 98.5275						98.5275
Proceeds from issuance of shares and warrants | $							$ 35,000,000
Proceeds from issuance of notes payable | $											$ 170,000,000	$ 12,142,791
Securities Purchase Agreement
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Warrants exercise price | $ / shares			$ 0.432					$ 0.432			$ 0.432
Warrants exercise price, after reverse stock splits | $ / shares			$ 3.888					3.888			$ 3.888
Proceeds from issuance of shares and warrants | $			$ 45,000,000
Warrants issued (in shares)											21,412,036
Securities Purchase Agreement | Scenario one
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Warrants exercise price | $ / shares			$ 0.52					0.52			$ 0.52
Warrants exercise price, after reverse stock splits | $ / shares			4.68					4.68			$ 4.68
Proceeds from issuance of shares and warrants | $											$ 7,000,000
Securities Purchase Agreement | Scenario two
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Warrants exercise price | $ / shares			0.1601					0.1601			$ 0.1601
Warrants exercise price, after reverse stock splits | $ / shares			$ 1.4409					$ 1.4409			$ 1.4409
Proceeds from issuance of shares and warrants | $											$ 100,000,000
Number of shares issued (in shares)											18,373,082
Warrants issued (in shares)											76,107,900
Warrants exercisable											50,815,919
Warrants to purchase to common stock			1					1			1
Securities Purchase Agreement | Scenario two | One Investor
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Warrants exercise price | $ / shares			$ 0.1696					$ 0.1696			$ 0.1696
Warrants exercise price, after reverse stock splits | $ / shares			$ 1.5264					$ 1.5264			$ 1.5264
Securities Purchase Agreement | Scenario three
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair value of common stock warrants | $			$ 150,084,173					$ 150,084,173			$ 150,084,173
Warrants term			5 years					5 years			5 years
Proceeds from issuance of shares and warrants | $											$ 254,962,776
Convertible notes
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Warrants term														5 years
Proceeds from issuance of notes payable | $						$ 150,000,000
Prefunded Warrants | Securities Purchase Agreement
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Warrants exercisable											5,496,238
Warrants to purchase to common stock			1					1			1
Prefunded Warrants | Securities Purchase Agreement | Scenario three
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Exercisable on a cash-less basis											28,482,585
Preferred C Warrants 2021
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Warrants exercise price | $ / shares							$ 8.834						8.834
Warrants exercise price, after reverse stock splits | $ / shares							$ 1,988						$ 1,988
Preferred C Warrants 2022
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Warrants									13,215
Initial expense upon issuance of warrants | $													$ 429,883,573
Debt premium | $													137,090,205
Amortization of financing costs | $													$ 292,793,368
Accrued preferred dividends | $		$ (32,735,345)
Exercised on a cash-less basis													186,441
Warrants to acquire shares of common stock							2,369,842						2,369,842
Fair value of warrants | $							$ 554,371,539						$ 554,371,539
Preferred D Warrants 2022
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair value of common stock warrants | $							$ 55,398,551						$ 55,398,551
Exercised on a cash-less basis									1,018,217
Shares of common stock issuable upon conversion (as a percent)											185%
Warrants exercisable for shares of common stock (as percentage)											110%
Warrants exercise price | $ / shares			$ 1.27					$ 1.27			$ 1.27
Warrants exercise price, after reverse stock splits | $ / shares			$ 286					$ 286			$ 286
Warrants term			5 years					5 years			5 years
Warrants issued (in shares)							26,287
Preferred D Warrants 2022 | Securities Purchase Agreement
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair value of common stock warrants | $				$ 73,260,454
Exercised on a cash-less basis											14,767,200
Warrants exercise price | $ / shares				$ 0.1
Warrants exercise price, after reverse stock splits | $ / shares				$ 22.5
Proceeds from issuance of shares and warrants | $				$ 45,000,000
Warrants issued (in shares)				3,700,000
Preferred D Warrants 2022 | Securities Purchase Agreement | Scenario one
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Warrants issued (in shares)											2,767,094
Preferred D Warrants 2022 | Securities Purchase Agreement | Scenario three
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Exercised on a cash-less basis											46,828,038
Exercisable on a cash-less basis											89,052,573
Preferred D Warrants 2022 | Convertible notes
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Exercisable on a cash-less basis											9,366,447
Warrants issued (in shares)					4,361,588	4,361,588
Qiantu Warrants
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Fair value of common stock warrants | $	$ 6,814,000		$ 234,300					$ 234,300			$ 234,300
Market price of the Company's common shares	110%
Number of intellectual property agreement | item	2
Period to use the license under intellectual property agreement | Y	5
Qiantu Warrants | Maximum
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Warrants to acquire shares of common stock	333,333
Series D Preferred Stock
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Investment right amount | $			$ 100,000,000					$ 100,000,000			$ 100,000,000
Number of shares issued (in shares)							79,926,925
Series D Preferred Stock | Securities Purchase Agreement
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Number of shares issued (in shares)				273,363,635
Common Stock
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Number of shares issued (in shares)												292,011
Common Stock | Securities Purchase Agreement
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Number of shares issued (in shares)				785,051							6,077,835
Common Stock | Securities Purchase Agreement | Scenario one
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Number of shares issued (in shares)											1,495,726
Common Stock | Securities Purchase Agreement | Scenario three
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Warrants to acquire shares of common stock			155,414,904					155,414,904			155,414,904
Common Stock | Series D Preferred Stock | Securities Purchase Agreement
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Conversion of stock, shares issued				1,214,949

WARRANTS AND OTHER DERIVATIVE_4

WARRANTS AND OTHER DERIVATIVE LIABILITIES AND FAIR VALUE MEASUREMENTS - Embedded Derivatives (Details) - Revaluation prior to conversion of underlying instrument	Jun. 30, 2023 USD ($)
Volatility
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Embedded derivative, measurement input	1.98
Dividend yield
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Embedded derivative, measurement input	0
Risk-free interest rate | Minimum
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Embedded derivative, measurement input	0.043
Risk-free interest rate | Maximum
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Embedded derivative, measurement input	0.047

WARRANTS AND OTHER DERIVATIVE_5

WARRANTS AND OTHER DERIVATIVE LIABILITIES AND FAIR VALUE MEASUREMENTS - Financial Liabilities Measured at Fair Value on a Recurring Basis (Details) - Recurring - USD ($)	Jun. 30, 2023	Sep. 30, 2022
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Derivative liability	$ 150,318,473	$ 84,799,179
Level 2
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Derivative liability	150,084,173	$ 84,799,179
Level 3
FAIR VALUE MEASUREMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Derivative liability	$ 234,300

WARRANTS AND OTHER DERIVATIVE_6

WARRANTS AND OTHER DERIVATIVE LIABILITIES AND FAIR VALUE MEASUREMENTS - Changes in derivative liability (Details) - USD ($)	9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CHANGES IN DERIVATIVE LIABILITY
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Derivative, Gain (Loss) on Derivative, Net	Derivative, Gain (Loss) on Derivative, Net
Derivative Financial Instruments, Liabilities [Member]
CHANGES IN DERIVATIVE LIABILITY
Balance, Beginning	$ 84,799,179
Derivative liabilities recognized upon issuance of convertible instruments	499,737,254	$ 269,344,178
Derivative liability recognized upon authorized shares shortfall	11,978,166
Loss / (gain) on derivative liability revaluation	(89,462,559)	124,672,956
Reclassification of derivative liabilities to equity upon authorization of sufficient common shares	(47,818,882)
Financing loss upon over-issuance of shares from warrants	8,934,892
Receivables upon over-issuance of shares from warrants	(17,721,868)
Reclassification to liability to issue shares upon unfinished warrant exercise on period end	(5,378,806)
Conversions of warrants into common shares	(509,117,758)	(420,626,121)
Change in agreement with warrant holders (recognized as deemed dividends		32,735,345
Balance, Ending	$ (150,318,473)	$ 6,126,358

STOCKHOLDERS' EQUITY (DEFICIT)

STOCKHOLDERS' EQUITY (DEFICIT) - Common Stock (Details)			1 Months Ended		9 Months Ended
	Aug. 14, 2023	May 04, 2023	Aug. 31, 2023	Jan. 31, 2023	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2022 USD ($)	Jan. 25, 2023 shares	Jan. 24, 2023 shares	Sep. 30, 2022 $ / shares shares
Class of Stock [Line Items]
Common Stock, shares authorized					5,000,000,000		5,000,000,000	1,750,000,000	1,750,000,000
Common Stock, par value | $ / shares					$ 0.001				$ 0.001
Common Stock, shares issued					86,762,748				3,704,303
Common Stock, shares outstanding					86,762,748				3,704,303
Voting rights					one
Common shares issued for cash | $						$ 84,501,511
Reverse stock ratio	0.11	0.04	0.10	0.04	0.11
Common stock dividends declared or paid | $					$ 0
Series D Preferred Stock
Class of Stock [Line Items]
Voting rights					one

STOCKHOLDERS' EQUITY (DEFICIT_2

STOCKHOLDERS' EQUITY (DEFICIT) - Preferred Stock, Series AA and Series D Preferred Stock (Details)			1 Months Ended		9 Months Ended
	Aug. 14, 2023	May 04, 2023	Aug. 31, 2023	Jan. 31, 2023	Jun. 30, 2023 $ / shares shares	Sep. 30, 2022 $ / shares shares
Class of Stock [Line Items]
Preferred Stock, shares authorized					500,000,000	500,000,000
Preferred Stock, par value | $ / shares					$ 0.001	$ 0.001
Reverse stock ratio	0.11	0.04	0.10	0.04	0.11
Series D Preferred Stock
Class of Stock [Line Items]
Preferred Stock, shares authorized					437,500,001	437,500,001
Preferred Stock, shares issued					363,097	4,359,652
Preferred Stock, shares outstanding					363,097	4,359,652

STOCKHOLDERS' EQUITY (DEFICIT_3

STOCKHOLDERS' EQUITY (DEFICIT) - Redemption Rights and Dividends (Details)		3 Months Ended		9 Months Ended
	Jan. 13, 2023	Jun. 30, 2023 USD ($) D	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) D	Jun. 30, 2022 USD ($)
Class of Stock [Line Items]
Minimum Term of Shares Issued and Outstanding				1 year
Preferred stock redemption, number of trading days | D		20		20
Preferred stock redemption, number of consecutive trading days | D		30		30
Adjustment to the additional paid-in capital				$ 7,387,808
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock dividends declared or paid		$ 0	$ 0	0	$ 0
Series B Preferred Stock
Class of Stock [Line Items]
Preferred stock dividends declared or paid		0	$ 0	$ 0	$ 0
Series C Preferred Stock
Class of Stock [Line Items]
Percentage of redemption price in first year				0%
Percentage of redemption price in second year				120%
Percentage of redemption price in third year				115%
Percentage of redemption price in fourth year				110%
Percentage of redemption price in fifth year				105%
Percentage of redemption price in sixth year and thereafter				100%
Preferred stock dividends rate, percentage	15%			15%
Series D Preferred Stock
Class of Stock [Line Items]
Percentage of redemption price in first year				0%
Percentage of redemption price in second year				120%
Percentage of redemption price in third year				115%
Percentage of redemption price in fourth year				110%
Percentage of redemption price in fifth year				105%
Percentage of redemption price in sixth year and thereafter				100%
Preferred stock dividends rate, percentage				15%
Accrued dividend		$ 374,445		$ 374,445
Number of Trading Days | D		10		10
Number of Consecutive Trading Days | D				20
Average Daily Trading Volume of Common Stock				$ 27,500,000

STOCKHOLDERS' EQUITY (DEFICIT_4

STOCKHOLDERS' EQUITY (DEFICIT) - Liquidation, Conversion and Voting Rights (Details)			1 Months Ended		9 Months Ended
	Aug. 14, 2023	May 04, 2023	Aug. 31, 2023	Jan. 31, 2023 shares	Jun. 30, 2023 USD ($) D Vote shares	Sep. 30, 2022 shares	Mar. 08, 2022 $ / shares
Class of Stock [Line Items]
Reverse stock ratio	0.11	0.04	0.10	0.04	0.11
Voting rights					one
Number of votes per share | Vote					1,000
Series A Preferred Stock
Class of Stock [Line Items]
Price per share in purchase agreement (USD per share) | $ / shares							$ 1.29
Preferred Stock, shares outstanding					1,036	1,924
Preferred Stock, shares issued					1,036	1,924
Conversion ratio					0.444
Series B Preferred Stock
Class of Stock [Line Items]
Preferred Stock, shares outstanding				0	0
Preferred Stock, shares issued					0
Series C Preferred Stock
Class of Stock [Line Items]
Preferred Stock, shares outstanding					1,210,056	1,360,321
Preferred Stock, shares issued					1,210,056	1,360,321
Conversion ratio					0.004
Ratio of Trading Price to Conversion Price					2
Trading days | D					20
Consecutive trading days | D					30
Value of average daily trading dollar volume | $					$ 4,000,000
Series D Preferred Stock
Class of Stock [Line Items]
Preferred Stock, shares outstanding					363,097	4,359,652
Preferred Stock, shares issued					363,097	4,359,652
Conversion ratio					0.004
Ratio of Trading Price to Conversion Price					2
Trading days | D					20
Consecutive trading days | D					30
Value of average daily trading dollar volume | $					$ 27,500,000
Voting rights					one
Series B And C Preferred Stock
Class of Stock [Line Items]
Voting rights					one

LOSS PER SHARE (Details)

LOSS PER SHARE (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
LOSS PER SHARE
Net income attributable to common stockholders	$ (308,858,234)	$ (4,847,151)	$ (800,047,339)	$ (485,517,181)
Deemed dividend on preferred stock	(13,125)	(2,285,792)	7,387,811	(37,541,085)
Net Loss attributable to common stockholders after preferred dividends	$ (308,871,359)	$ (7,132,943)	$ (792,659,528)	$ (523,058,266)
Net loss per share, basic	$ (11.14)	$ (4.26)	$ (55.44)	$ (694.20)
Net loss per share, diluted	$ (11.14)	$ (4.26)	$ (55.44)	$ (694.20)
Weighted average shares outstanding, basic	27,720,475	1,674,607	14,296,659	753,474
Weighted average shares outstanding, diluted	27,720,475	1,674,607	14,296,659	753,474
Weighted average shares outstanding, basic, before reverse stock splits, see Note 1	6,237,106,875	376,786,685	3,216,748,275	169,531,688
Weighted average shares outstanding, diluted, before reverse stock splits, see Note 1	6,237,106,875	376,786,685	3,216,748,275	169,531,688
Net loss per share, basic before reverse stock splits	$ (0.05)	$ (0.02)	$ (0.25)	$ (3.09)
Net loss per share, diluted before reverse stock splits	$ (0.05)	$ (0.02)	$ (0.25)	$ (3.09)

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Composition of Stock-Based Compensation Expense
Directors, officers and employees share-based compensation	$ 3,678,278	$ 96,495	$ 51,329,014	$ 20,049,336
Share-based compensation to consultants (equity-classified)	903,264	4,928,824	7,367,107	12,288,735
Share-based compensation to consultants (liability-classified)	6,130,462	119,344	12,319,250	141,639
Total share-based compensation expense	10,712,004	$ 5,144,663	71,015,371	$ 32,479,710
Chief Executive Officer
Composition of Stock-Based Compensation Expense
Total share-based compensation expense			3,491,421
CEO Award Incentive Plan | Chief Executive Officer
Composition of Stock-Based Compensation Expense
Amount of of costs accrued for future award	$ 3,400,000		$ 3,400,000
CEO Award Incentive Plan | Minimum | Chief Executive Officer
Composition of Stock-Based Compensation Expense
Percentage of awards to be issued			1%
CEO Award Incentive Plan | Maximum | Chief Executive Officer
Composition of Stock-Based Compensation Expense
Percentage of awards to be issued			2%

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($)	Jun. 30, 2023	Sep. 30, 2022
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES
Accrued expense - other	$ 5,135,333	$ 3,529,384
IRS tax liability	187,303	1,744,707
Accrued payroll	1,583,056	534,782
Accrued interest	1,479,688	1,377,008
Total	$ 8,385,380	$ 7,185,881

LIABILITY TO ISSUE STOCK (Detai

LIABILITY TO ISSUE STOCK (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2022
Schedule of Liability to Issue Stock [Line items]
Liability to issue shares for convertible securities and warrants	$ 5,378,806		$ 5,378,806
Stock based compensation	10,712,004	$ 5,144,663	71,015,371	$ 32,479,710
Liability to issue shares	$ 8,870,227		8,870,227		$ 10,710,000
Esousa Holdings, LLC
Schedule of Liability to Issue Stock [Line items]
Liability to issue shares					$ 10,710,000
CEO
Schedule of Liability to Issue Stock [Line items]
Stock based compensation			$ 3,491,421

PROPERTY, EQUIPMENT AND LEASE_3

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2022
Property, Plant and Equipment [Line Items]
Subtotal	$ 103,118,018		$ 103,118,018		$ 22,121,868
Less: accumulated depreciation	(11,367,499)		(11,367,499)		(4,335,166)
Property, Equipment and Leasehold Improvements, net	91,750,519		91,750,519		17,786,702
Depreciation	1,680,595	$ 86,598	7,050,864	$ 251,780
Buildings
Property, Plant and Equipment [Line Items]
Subtotal	48,120,753		48,120,753		7,659,121
Land
Property, Plant and Equipment [Line Items]
Subtotal	3,040,303		3,040,303		647,576
Furniture and equipment
Property, Plant and Equipment [Line Items]
Subtotal	682,798		682,798		556,948
Vehicles
Property, Plant and Equipment [Line Items]
Subtotal	335,183		335,183		96,363
Show room assets
Property, Plant and Equipment [Line Items]
Subtotal	4,428,544		4,428,544		4,418,724
Computer hardware and software
Property, Plant and Equipment [Line Items]
Subtotal	2,016,046		2,016,046		1,013,308
Machinery and equipment
Property, Plant and Equipment [Line Items]
Subtotal	32,070,385		32,070,385		7,383,612
Construction-in-progress
Property, Plant and Equipment [Line Items]
Subtotal	12,237,665		12,237,665		269,778
Leasehold improvements
Property, Plant and Equipment [Line Items]
Subtotal	$ 186,341		$ 186,341		$ 76,438

PROPERTY, EQUIPMENT AND LEASE_4

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET - ELMS asset acquisition (Details) - ELMS	Nov. 30, 2022 USD ($)
Asset acquisition
Land	$ 1,440,000
Buildings and site improvements	41,287,038
Personal property subtotal	$ 27,300,000

OTHER NONCURRENT ASSETS (Detail

OTHER NONCURRENT ASSETS (Details) - USD ($)	Jun. 30, 2023	Sep. 30, 2022
OTHER NONCURRENT ASSETS
Other assets		$ 81,587
Security deposits	$ 1,010,712	281,056
Total Other Assets	$ 1,010,712	$ 362,643

OPERATING EXPENSES (Details)

OPERATING EXPENSES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
OPERATING EXPENSES
Professional fees	$ 5,250,063	$ 4,908,855	$ 51,884,123	$ 31,773,409
Compensation to employees and management	15,133,141	3,177,790	52,147,116	10,556,783
Depreciation	1,680,595	86,598	7,050,864	251,780
Amortization	913,061	221,699	4,433,035	667,075
Lease	273,234	474,032	1,948,288	1,493,150
Settlements and penalties	2,327,286	169,607	8,592,635	1,054,439
Employee benefits	1,140,917	639,779	2,759,607	1,552,939
Utilities and office expense	996,997	202,652	2,064,100	428,565
Advertising and promotions	985,763	644,423	4,746,032	3,570,016
Taxes and licenses	120,500	8,805	372,381	25,926
Repairs and maintenance	302,623	167,173	684,920	246,875
Executive expenses and directors fees	73,759		363,825
Listing and regulatory Fees	1,415,003		4,150,348
Other	1,164,870	195,387	2,988,887	1,446,359
Total	$ 31,777,812	$ 10,896,800	$ 144,186,161	$ 53,067,316

OPERATING EXPENSES - Research a

OPERATING EXPENSES - Research and development (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Research & Development
Research and development	$ 22,088,011	$ 7,324,365	$ 51,188,991	$ 9,665,126

LEASES - Lease assets and liabi

LEASES - Lease assets and liabilities (Details) - USD ($)	Jun. 30, 2023	Sep. 30, 2022
Assets:
Operating lease right-of-use assets	$ 5,504,851	$ 4,597,052
Liabilities:
Operating lease liabilities, current	(2,217,059)	(1,428,474)
Operating lease liabilities, non-current	(3,709,616)	(3,359,354)
Total lease liabilities	$ (5,926,675)	$ (4,787,828)
Weighted average remaining lease terms: Operating leases	2 years 7 months 28 days	2 years 7 months 17 days
Weighted average discount rate: Operating leases	28%	28%

LEASES - Operating lease costs

LEASES - Operating lease costs (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Operating lease costs:
Fixed lease cost	$ 330,175	$ 327,409	$ 887,294	$ 1,066,680
Variable lease cost	85,298	158,399	147,120	418,999
Short-term lease cost		34,473		160,250
Sublease income	(108,127)	(46,144)	(201,875)	(152,431)
Total operating lease costs	$ 307,346	$ 474,137	$ 832,539	$ 1,493,498

LEASES - Maturities of operatin

LEASES - Maturities of operating lease liabilities (Details) - USD ($)	Jun. 30, 2023	Sep. 30, 2022
Year ending December 31,
2023 (3 months)	$ 874,278
2024	3,074,497
2025	2,423,880
2026	610,913
2027	417,425
Thereafter	115,668
Total lease payments	7,516,661
Less: imputed interest	(1,589,986)
Present value of lease liabilities	$ 5,926,675	$ 4,787,828

LEASES - Additional Information

LEASES - Additional Information (Details)	9 Months Ended
	Jun. 30, 2023
Lessee, Lease, Description [Line Items]
Option to extend	true
Option to terminate	true
Minimum
Lessee, Lease, Description [Line Items]
Operating lease term	1 year
Renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease term	3 years
Renewal term	5 years

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - DBI Lease Buyback Servicing LLC, Drawbridge Investments LLC v. Mullen Automotive Inc (Details)		1 Months Ended
	Mar. 02, 2023 USD ($) claim shares	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) shares	Jan. 25, 2023 shares	Jan. 24, 2023 shares	Sep. 30, 2022 USD ($) shares
CONTINGENCIES AND CLAIMS
Debt discount			$ 425,574			$ 932,235
Common Stock, shares authorized | shares			5,000,000,000	5,000,000,000	1,750,000,000	1,750,000,000
DBI Lease Buyback Servicing LLC, Drawbridge Investments LLC
CONTINGENCIES AND CLAIMS
Number of Claims | claim	3
Debt discount	$ 3,500,000
Damages in Drawbridge assets	$ 100,000,000
Minimum | DBI Lease Buyback Servicing LLC, Drawbridge Investments LLC
CONTINGENCIES AND CLAIMS
Common Stock, shares authorized | shares	500,000,000
Series E Preferred Stock Purchase Option | Series E Preferred Stock | DBI Lease Buyback Servicing LLC, Drawbridge Investments LLC
CONTINGENCIES AND CLAIMS
Option to purchase maximum value of stock and warrants.		$ 25,000,000

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Mullen Technologies Inc. v. Qiantu Motor (Suzhou) Ltd. (Details)	Mar. 14, 2023 USD ($) Y item shares
Qiantu Warrants
Other Commitments [Line Items]
Number of intellectual property agreement | item	2
Period to use the license under intellectual property agreement | Y	5
Market price of the Company's common shares	110%
Mullen Technologies Inc. v. Qiantu Motor (Suzhou) Ltd Litigation Case [Member]
Other Commitments [Line Items]
Litigation owed	$ 6,000,000
Period for assessment of feasibility and profitability	150 days
Amount payable for deliverable items	$ 2,000,000
Amount of royalty fee payable	$ 1,200
Mullen Technologies Inc. v. Qiantu Motor (Suzhou) Ltd Litigation Case [Member] | Qiantu Warrants
Other Commitments [Line Items]
Warrants to acquire shares of common stock | shares	333,333
Market price of the Company's common shares	110%

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - International Business Machines (Details) - Lawsuit with IBM - USD ($)	Feb. 02, 2022	Dec. 01, 2021
CONTINGENCIES AND CLAIMS
Amount of judgment		$ 5,617,192
Cash transferred to surety bonds to cover legal liability	$ 5,900,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Jun. 30, 2023	Aug. 03, 2022
GEM Group | Pending Litigation
CONTINGENCIES AND CLAIMS
Escrow Deposit		$ 7,000,000
Schaub Lawsuit | Pending Litigation
CONTINGENCIES AND CLAIMS
Litigation liability	$ 0
Jeff Witt v. Mullen Automotive, Inc. | Pending Litigation
CONTINGENCIES AND CLAIMS
Litigation liability	0
Hany Morsy v. David Michery, et al. | Pending Litigation
CONTINGENCIES AND CLAIMS
Litigation liability	0
Chosten Caris V David Michery | Pending Litigation
CONTINGENCIES AND CLAIMS
Litigation liability	0
Robbins Lawsuit | Settled Litigation
CONTINGENCIES AND CLAIMS
Litigation settlement expense	$ 1,004,731

RELATED PARTY TRANSACTIONS - Tr

RELATED PARTY TRANSACTIONS - Transactions with Related Party Note Receivable (Details) - Related Party - Related Party Note Receivable - Mullen Technologies, Inc. - USD ($)	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2023
Related Party Transaction [Line Items]
Related Party, principal amount	$ 1,388,405
Related party transaction rate	10%
Stated interest rate of debt agreements	15%
Related party receivable		$ 1,834,496
Accrued interest		$ 41,516

RELATED PARTY TRANSACTIONS - Wi

RELATED PARTY TRANSACTIONS - William Miltner (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Related Party | William Miltner
Related Party Transaction [Line Items]
Amount paid for legal services	$ 161,687	$ 178,640	$ 864,343	$ 804,120

RELATED PARTY TRANSACTIONS - Ma

RELATED PARTY TRANSACTIONS - Mary Winter (Details) - Consulting agreements - Mary Winters, Corporate Secretary and Director	Oct. 26, 2021 USD ($)
Related Party Transaction [Line Items]
Term of agreement	1 year
Annual salary under agreement	$ 60,000
Monthly salary under agreement	$ 5,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details)							1 Months Ended			9 Months Ended
	Aug. 14, 2023	Aug. 11, 2023 USD ($) D $ / shares shares	Aug. 03, 2023 USD ($) item shares	Jul. 01, 2023 USD ($) item	May 04, 2023	Apr. 17, 2023 USD ($)	Aug. 31, 2023	Jan. 31, 2023	Sep. 30, 2022 shares	Jun. 30, 2023	Jul. 06, 2023 USD ($)
Subsequent Event [Line Items]
Reverse stock ratio	0.11				0.04		0.10	0.04		0.11
Mullen Advanced Energy Operations LLC
Subsequent Event [Line Items]
Upfront payments						$ 50,000
Amount payable upon execution of definitive agreements						$ 5,000,000
Mullen Advanced Energy Operations LLC
Subsequent Event [Line Items]
Equity interest						51%
Mullen Advanced Energy Operations LLC | Lawrence Hardge, Global EV Technology, Inc., and EV Technology, LLC
Subsequent Event [Line Items]
Equity interest						49%
Series D Preferred Stock
Subsequent Event [Line Items]
Number of shares issued (in shares) | shares									79,926,925
Subsequent event
Subsequent Event [Line Items]
Number of class II directors elected | item			2
Term of class II directors elected			3 years
Reverse stock ratio		0.11
Frequency of future votes for the compensation of executive officers			3 years
Minimum bid price | $ / shares		$ 1
Compliance days | D		20
Subsequent event | Series D Warrants
Subsequent Event [Line Items]
Cashless warrant exercise (in shares) | shares		97,405,972
Subsequent event | Non-employee director
Subsequent Event [Line Items]
Fees As Cash Retainer For Board Service				$ 50,000
Additional Annual Cash Retainers For Each Member Of Compensation Committee Or Nominating And Governance Committee				5,000
Additional Annual Cash Retainers For The Chairman Of Compensation Committee Or Nominating And Governance Committee				7,500
Additional Annual Cash Retainers For Each Member Of Audit Committee				10,000
Additional Annual Cash Retainers For The Chairman Of Audit Committee				45,000
Additional annual cash retainers to the lead independent director				25,000
Value Of Stock Option To Purchase Shares Of Common Stock				$ 100,000
Threshold number of in-person meetings to be entitled to additional compensation | item				4
Threshold number of telephonic meetings to be entitled to additional compensation | item				15
Additional compensation in the event directors are required to attend additional telephonic meeting beyond the 12 telephonic meeting thresholds				$ 500
Additional compensation in the event directors are required to attend additional in-person meeting beyond the four in-person meeting threshold				$ 1,000
Amount to be received upon change in control		$ 5,000,000
Threshold Minimum Beneficial Ownership Percentage		50%
Subsequent event | Proceeds that are up to and including $1 billion | Non-employee director
Subsequent Event [Line Items]
Aggregate percentage of the transaction proceeds to be received upon change in control		10%
Threshold proceeds for compensation upon change in control		$ 1,000,000
Subsequent event | Proceeds that are more than $1 billion and up to $1.5 billion | Non-employee director
Subsequent Event [Line Items]
Aggregate percentage of the transaction proceeds to be received upon change in control		5%
Subsequent event | Proceeds that are more than $1.5 billion | Non-employee director
Subsequent Event [Line Items]
Aggregate percentage of the transaction proceeds to be received upon change in control		5%
Threshold proceeds for compensation upon change in control		$ 1,500,000
Subsequent event | Performance Shares | CEO | Achievement of Vehicle Completion Milestones
Subsequent Event [Line Items]
Percentage of awards to be issued			3%
Subsequent event | Performance Shares | CEO | Achievement of Revenue Benchmark Milestones
Subsequent Event [Line Items]
Percentage of awards to be issued			1%
Revenue recognized			$ 25,000,000
Threshold Revenue			$ 250,000,000
Subsequent event | Performance Shares | CEO | Achievement of Battery Development Milestones
Subsequent Event [Line Items]
Percentage of awards to be issued			2%
Subsequent event | Performance Shares | CEO | Achievement of JV-Acquisition Milestones
Subsequent Event [Line Items]
Percentage of awards to be issued			3%
Subsequent event | Performance Shares | CEO | Achievement of Accelerated Development Milestone
Subsequent Event [Line Items]
Percentage of awards to be issued			2%
Subsequent event | Amendment To Securities Purchase Agreement
Subsequent Event [Line Items]
Remaining shares reserved for the plan | shares			7,000,000
Subsequent event | Amended Equity Incentive Stock Plan 2022
Subsequent Event [Line Items]
Additional shares registered | shares			52,000,000
Subsequent event | Dollar 25 Million Stock Buyback Program
Subsequent Event [Line Items]
Shares repurchased											$ 25,000,000
Subsequent event | Minimum
Subsequent Event [Line Items]
Reverse stock ratio			0.50
Subsequent event | Minimum | Proceeds that are up to and including $1 billion | Non-employee director
Subsequent Event [Line Items]
Threshold proceeds for compensation upon change in control		1,000,000
Subsequent event | Maximum
Subsequent Event [Line Items]
Reverse stock ratio			0.01
Subsequent event | Maximum | Proceeds that are more than $1 billion and up to $1.5 billion | Non-employee director
Subsequent Event [Line Items]
Threshold proceeds for compensation upon change in control		$ 1,500,000

RESTATEMENT - Statement of Oper

RESTATEMENT - Statement of Operations (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
RESTATEMENT
Loss from Operations	$ (53,806,492)	$ (18,221,165)	$ (195,315,821)	$ (62,732,442)
Other financing costs - initial recognition of derivative liabilities	(248,413,090)		(504,373,115)	(269,344,178)
Gain / (loss) on derivative liability revaluation	(241,168)	34,583,523	(89,462,559)	(107,705,006)
Others		(21,209,509)		(45,735,556)
Other income (expense)		13,374,014		(422,784,739)
Net loss attributable to stockholders	(308,858,234)	(4,847,151)	(800,047,339)	(485,517,181)
Deemed dividend on preferred stock	(13,125)	(2,285,792)	7,387,811	(37,541,085)
Net income attributable to common stockholders	$ (308,871,359)	$ (7,132,943)	$ (792,659,528)	$ (523,058,266)
Loss per share, basic	$ (11.14)	$ (4.26)	$ (55.44)	$ (694.20)
Weighted average common shares outstanding, basic (after reverse stock splits, see Note 1)	27,720,475	1,674,607	14,296,659	753,474
As Previously Reported
RESTATEMENT
Loss from Operations		$ (18,221,165)		$ (62,732,442)
Gain / (loss) on derivative liability revaluation		3,045,000		3,045,000
Incentive fee to creditor for transfer of note payable		(23,085,886)		(23,085,886)
Others		(21,209,509)		(45,735,556)
Other income (expense)		(41,250,395)		(65,776,442)
Net loss attributable to stockholders		(59,471,560)		(128,508,884)
Deemed dividend on preferred stock		(2,285,792)		(4,805,740)
Net income attributable to common stockholders		$ (61,757,352)		$ (133,314,624)
Loss per share, basic		$ (36.88)		$ (176.93)
Weighted average common shares outstanding, basic (after reverse stock splits, see Note 1)		1,674,607		753,474
Adjustments
RESTATEMENT
Other financing costs - initial recognition of derivative liabilities				$ (269,344,178)
Gain / (loss) on derivative liability revaluation		$ 31,538,523		(110,750,006)
Incentive fee to creditor for transfer of note payable		23,085,886		23,085,886
Other income (expense)		54,624,409		(357,008,297)
Net loss attributable to stockholders		54,624,409		(357,008,297)
Deemed dividend on preferred stock				(32,735,345)
Net income attributable to common stockholders		$ 54,624,409		$ (389,743,642)