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This HD Luckey Ohio job posted 03/11
for Administrative Assistant.
http://bgsu.uloop.com/jobs/view.php/190879439/DC-Admin-Assistant---Luckey-OH-The-Home-Depot
My theory is this position is among those which are filled last after you already have a Manager in place for the DC.
The grand opening is probably another 30 to 60 days away.
I came across this while searching HD ceremony
Ikea is moving forward with permitting of a large new distribution center in Joliet, IL.
I don't recall any posts on the board about this in the past few weeks, so sorry if this is old news.
http://thetimesweekly.com/news/2015/feb/22/ikea-build-huge-joliet-distribution-center/
Maybe if Andy doesn't throw us a HD/Nike MilkBone he might be able to toss out an Ikea dog treat.
FYI links to customer testimonials on Plug's website are available at :
http://www.plugpower.com/GenDrive/ProductLiterature.aspx
10-K/Q filing deadlines falling on non-business days are considered to fall the next business day, apparently.
The SEC filing deadline calendar from the law firm Skadden indicates the 10-K deadline for large accelerated filers to be March 2nd, 2015 being the next business day after the 60th day after the end of the fiscal year.
The late filing deadline is 75 days after the end of the fiscal year, and falls on March 16th, 2015.
The statute pertaining to the shift in deadline dates which fall on non-business days is cited on their website at
http://www.skadden.com/newsletters/Corporate_Finance_Alert_SEC_Filing_Deadlines_2015.pdf
Should Paul wish to file the 10-K after the market close on Monday, instead of on Sunday as our ever reliable Andy has suggested, then the markets may have another full trading day before the results are released.
Just sayin'.
For your convenience a calendar displaying Julian days for 2015 is available at
http://www.timeanddate.com/calendar/custom.html?year=2015&country=1&cols=0&cdt=1&doy=1&typ=0&display=3&df=1
That's not the way I would interpret Q3 results.
Everyone was hoping for Q3 results to be better. My expectations were mid $20Ms for revenue and EBITDA break even. What I did not expect was a $2.4M litigation accrual and revenue under $20M.
On the January conference call I did not expect that a long term overestimater like Andy would convert to realism/cautious pessimism and lower the sales targets for 2015. (He didn't do it without letting EVERYBODY know why, and just exactly how unhappy he was with those pesky shareholders.)
One explanation for Andy's behaviour with regard to outrageously optimistic guidance over his entire tenure with PLUG is that he allows his optimism and an overwhelming desire to please people today to override any sense of the negative implications of disappointing them tomorrow. (I'm sure we all know someone with a similar behaviour or have all done this in the past.)
This leads me to believe that the actions that led to the Q3 results and the conference call epiphany have the hand of PM written all over them. Who else but your (second) new CEO could knock the Andy optimism train onto a different track?
I can almost hear the words 'If in doubt, leave it out' echoing around the Plug board room in reference to revenue, revenue projections, and profitability ahead of the Q3 results and January conference call. The Soroof lawsuit was in litigation since 2008 and suddenly there is a out of court settlement and resulting litigation accrual?
I think the Paul Middleton factor (effecting the results in a negative way for either his own benefit or simply because that's the reality on the ground) has largely been visited upon the Q3 results and guidance already.
It would not surprise me that the Q4 results pull in revenue which was in question in Q3 (and therefore intentionally left out) and yield at least a $70M 2014, that the guidance moves back up (perhaps only slightly) from the conference call projections, and that the EBIDTA numbers (for Q4) come within a hair's breadth of or a little above break even.
With all that being said, and even if it all comes to pass, what does it mean for the share price? The big question is how PLUG is viewed as a go forward investment.
Does the market believe that PLUG has turned the corner towards both credibility and profitability?
I think the decision of the institutional investors on that question will determine the response in the share price, and the adroit actions of putting Paul Middleton front and center in the presentation of the results and future guidance, and the announcement of the names of a few mystery customers would go a long way towards tipping the scales to a favourable outcome.
And, of course, GLTA PLUGGERS!
Wouldn't be a surprise then, now would it.
That's the thing about surprises - knowing in advance takes away all the fun!
Would you get more satisfaction knowing that you were going to lose a good chunk of your money? No! And you wouldn't even have the excitment of the surprise.
Always here to promote knowledge based decisions (and the value of a good surprise),
canadajim
If the results are horrible $1 is possible.
But I don't think that will happen if Plug comes at or better than the $65-$75M dollar revenue for 2014 that they have been consistently indicating over the last 4 or 5 months.
Now if the guidance for the year end results is as good as the guidance from previous years the revenues will miss the guidance by a mile, and 2014 revenues will come in below $50M. If that is the case there won't be a rock so low that the share price wouldn't be able to hide under it.
At the end of the day we will know how to complete the following table by using the available magic words (EYE and HIT) only once each in the blank spaces provided :
=====================================================================
| Andrew Left (Citron Research) | Andy Marsh (Plug Power) |
=====================================================================
| | |
| BULLS____ | BULLS____ |
| | |
====================================================================
For whatever it's worth Plugs PR indicates 03/17 for the release date.
PLUG POWER TO ANNOUNCE 2014 FOURTH QUARTER AND YEAR END RESULTS ON MARCH 17, 2015
LATHAM, NY – February 24, 2015 – Plug Power Inc. (NASDAQ: PLUG), a leader in providing clean, reliable energy solutions, today confirms it will release the Company’s 2014 fourth quarter and year end results on March 17, 2015.
In conjunction with the press release, the Company will host a live conference call and webcast, including presentation slides.
The earnings release conference call is 10AM 03/17.
The press release neglected to advise when the release of the financials will occur.
The link to the 10AM webcast is
https://event.webcasts.com/starthere.jsp?ei=1054262
It should also be noted that Andy advised in the webcast earlier this week that the 10-K would be filed on March 15th. I don't know if the 10-K becomes immediately available through EDGAR or not, so potentially results could be out on Sunday.
Good thing it was just 0.5M share dump this morning, although it still brought the share price down the same 5% as the 1M shares yesterday. Hopefully it will recover like yesterday, but I suspect that the retail investors willingness to make up for institutional dumping will fatigue pretty quickly. (In the last 2 days there have been 2 high volume trades at the bid price totalling over 1.5M shares.)
We've seen a lot of things come out of Andy lately, it would be nice to see a little crack of sunshine instead of what we have been seeing.
For what it's worth Andy did say that they would be filing on the 15th, but then again he also said that he read the 10-K on his way into the presentation
On order bookings FWIW he said that they had already booked $85M in 2015, and that Walmart was projected at $45M based on 7 - 10 DCs in 2015. When asked pointedly about what contractual arrangements he based the $45M figure on he backpedalled and uttered something about the contract framework being in place and only a single signature being required on each side to extend the contract to additional sites. (It did not inspire confidence.)
On booking revenue I think we might be surprised in a positive sense if PM knows what he is doing. I suspect that team Andy got confused over booking revenue with product sold to 3rd party leaseholders, which should be booked in full when shipped. Unless PLUG is the leaseholder this should result in net revenue capture in this quarter.
And then there is the perennial question of new customers. Has anyone got any verifiable information that Andy or anyone else from PLUG has indicated that these names will be released with the results?
It's amazing what a motivated seller of 1M shares can do to the stock price in under 5 minutes!
PLUG bottoms out at $2.70 down more than 5%.
FCEL delivers Q1 'less bad news' results
(Period ending 01/31/15)
http://www.stockhouse.com/news/press-releases/2015/03/10/fuelcell-energy-reports-first-quarter-2015-financial-results
Short synopsis with approximate numbers :
Q1 2015 vs. Q1 2014
====================
Revenue down 8%
Gross Profit & Gross Margin approx. double
Net Loss per share reduced by 2/3
Total backlog +3%
Product backlog -25% (~30% of backlog)
Service backlog +27% (~65% of backlog)
Advanced Tech backlog +18% (~5% of backlog)
As of end of Q1 2015
Liquidity approx. $110M Cash + $45M available credit
While this is not exactly good news for either FCEL (and by association PLUG) it is certainly far less bad than the BLDP results.
Hopefully PLUG will recover to $3 before the earnings release - unless we continue to see more large blocks of shares going across at the bid price like we did today, indicating a lack of confidence that PLUGs results will meet or exceed expectations.
P.S. Does anyone know if the 10-K filing will become public before the release of the results on the 17th?
I agree that is the connection, but like MVTG it is of no practical significance for the foreseeable future.
If I was rich enough to spend my days wishing whistful thoughts from a Starbucks while using their free WiFi to trade on the stock market I might be buying both GEVO and PLUG and congratulating myself on how I was single handedly saving the planet.
Alas neither I nor the vast majority of serious investors (the one's buying and selling 1M+ shares at a go) will be doing it for this reason.
But it's still a nice thought.
There are ethical investors who invest in green technology (for whatever that is worth) simply because they believe it will help save the planet from the menace of global warming. (They are often the same ones campaigning against nuclear power, the most effective CO2 emissions suppression technology EVER in the history of power generation. DUH!)
While PLUG deals in one of the most visible ways with emissions free vehicles, a combination of PLUG and GEVO would extend the 'green' aspect of the business into both fuel production, and organic waste recovery.
It would be an 'ethical' investor's triple play.
Andy agrees....
Why else would he wait until 7AM the day of the event to announce. Even changing the Q4 reporting date got 48 hours notice!
I used to have to wait for Andy to speak before the share price dropped!
PPS down 3% on the annoucement that Andy will speak to shareholders today - the 'Andy Effect' gets an official mythbusters CONFIRMED.
Don't miss the webcast at 3PM for all the right coasters (12 noon for the left coasters) - it may be the only entertainment we can afford by the time the market closes today.
Besides, we'll get to find out what the institutionalized shareholders think about Andy.
Slow trading day + a few motivated sellers
is all it takes to trim 5% off the pps. Anyone else have any news as to the cause of todays meltdown? Is it a case of jitters in advance of the FCEL results coming tomorrow after market close?
(As of the time of this post FCEL is also down over 9%, perhaps the market believes the only beating coming tomorrow from FCEL is to their share price after the results come out.)
Also let me take this opportunity to repost from the terms of use (apparently today is the day to ignore both them and the board moderators)
You are posting to the Plug Power Inc. (PLUG) board. Please keep your post about the stock and company. Do not post about other users or other stocks.
If there is one thing I have learned
it's that Andy is a man of many talents, one of which is the ability to do things that surprise everyone with absolutely no consideration given to the implications to himself, his shareholders, or his company.
A month ago Andy dished more info to a reporter than he did to the shareholders in the conference call. Specifically
We tripled revenue last year, we'll increase revenue by over 45 percent this year
At least you can count on the lawsuits
They are not originating from or managed by Plug.
As far as I'm concerned all the stuff about a Plug PR is all hearsay. Or was that heresy? I can never keep the two straight on this board.
Thanks for the link
I also have no interest in FaceBook or just about any other media more social than this board.
Remote Spring 2015...can you provide a link?
Kudos on a well written post
Andy may seem (to some of us) like the kind of guy we have a beer with on a porch, but he is also the CEO of a company with a $500M market cap.
As a CEO he has a duty to the shareholders to make sure that the company is not only well managed, but that it is also perceived to be well managed.
At this point in time it is evident that during Andy's tenure there have been many areas of both success (company focus, client acquisition and retention, revenue growth) and failure (investor relations, basic financial management, guidance, management accountablilty). For some Andy has done a great job and deserves our support, for others there are no shortage of crosses to which he should be nailed, but for everyone who is an investor (and wishes to be a successful one) we have to be aware of the whole truth and ignore neither the good nor the bad.
It is clear to me that while there could be a long and lively debate about whether Plug is being well managed, in my mind there is absolutely no debate about whether the market perceives the company to be well managed.
That is one of the principle reasons why Plug is the target of shareholder lawsuits and short sellers, and why the share price of Plug languishes where it does. Lately it seems that all a short seller has to do is wait for the next press release, conference call, or reporting deadline and they will be richly rewarded.
I don't think they can stop this
This appears to be triggered by the filing of the NT 10-K notice. I seems that there are a number of law firms that trigger investigations (and the associated press releases) when a company the size of Plug does not provide timely reporting, and particularly when they do not provide adequate guidance in lieu of timely reporting.
Perhaps their read on the January 28th call was similar to mine - that there was no clear guidance on the Q4 2014 numbers in terms of either revenue or expenditures.
Unfortunately the radio silence from the AM/PM duo persists. (This silence is more akin to getting into an ambulance and driving around to every lawyers office in town with the siren blaring. If they want to be the pied piper of shareholder lawsuits they're doing a bang up job.)
Keep in mind these are investigations, not actions at this time.
The more the merrier? Another law firm investigates
Another law firm has announced that they are interested in communicating with shareholders regarding Plugs late 10-K filing and the lack of guidance provided to shareholders in the absence of a timely reporting.
http://www.marketwatch.com/story/plug-power-inc-investors-encouraged-to-contact-securities-law-firm-about-investigation-into-allegations-of-corporate-wrongdoing-2015-03-04?reflink=MW_news_stmp
Another day, another potential law suit....
Plug Power needs a Fellows Group...
of which Andy should be the first member.
What is a Fellows Group you may ask - it is a group for those people who have made contributions to their company which have been fundamental to the success the business, and an environment where the day to day duties of a traditional job description are lifted from their shoulders so that they can concentrate on stratigic efforts that do not necessarily have a well founded cost benefit projection.
Having been a member of the Fellows Group of a highly successful dot com era company I can tell you that there is a huge value in letting the strategic thinkers think without the burden of trying to justify their existence on a daily basis within the context of operating budgets that dominate manufacturing companies.
Some may think that this is the equivalent of being put out to pasture, but when properly executed nothing could be farther from the truth.
Delayed reporting results in potential lawsuit
Perhaps the February 26th/March 17th hatchet job on the reporting of the financial results did not raise too many eyebrows, but the filing of the NT 10-K to Edgar advising of the missed deadline for the 10-K filing has.
The law firm Pomerantz LLP is investigating claims on behalf of shareholders of potential violations of the Securities Exchange Act of 1934.
I don't know if this is an exercise in frivolity or something that we should sit up and take notice of, but it certainly is in no way beneficial to PLUG.
The investigation concerns whether Plug Power and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
It is a real lawsuit
that has been brought by a company called Soroof from Saudi Arabia, and involving a shell company set up jointly by Plug and an offshoot of GE. A litigation accrual of $2.4M was booked in the last quarter towards a out of court settlement, but Paul Middleton mentioned it in the January 28th business update call as a $3M dollar affair now effecting both Q3 and Q4 results.
A brief explanation is provided in the 10-K filed for Q3 2014, but if one digs a little deeper you will find that this case is now fairly famous because the litigant got a judgment piercing the corporate veil of the shell company and exposing Plug and GE directly to liability. It has gone through several judgments and appeals and in October 2014 Plug reached an understanding with Soroof regarding an out of court settlement, only to then have GE chase Plug for an additional $1M for associated legal costs.
With regard to the shareholder action commenced in 2000 alleging insider trading a $5M settlement was reached and paid out (in 2005, I believe) bringing that action to an end.
There is a little bit more info in a previous post of mine available at
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=111120233
Pot of gold at the end of rainbow?
March 17th is St. Patricks day! A day on which we drink green beer and celebrate all things Irish!
Hopefully we will all be celebrating reaching that pot of gold at the end of the reporting rainbow.
May the PR fairies rain down positive financial results, EBIDTA profits, mega-deal announcements, FC vehicle fueling stations...that is if a leprechan doesn't grab that pot away (AGAIN) just as it comes within reach.
Sounds a little too much like a fairy tale to be believable, but then again there has been no shortage of surrealism with this stock! Maybe I'll pinch myself.
P.S. With 400K shares going across the board at 10:58 at the ask price it appears someone with cash believes in happy endings.
The Benzinga headline reads
"NT 10-K from Plug Power Shows Notice of Late Filing, Cites Unforeseen Delays in Collecting Data"
I guess that unforeseen delays in collecting data part has some investors nervous - if you haven't got a good handle on the past and present it is much more difficult to predict the future.
At least the stock seems to be holding above $3 in regular day trading.
http://www.benzinga.com/news/15/03/5291898/nt-10-k-from-plug-power-shows-notice-of-late-filing-cites-unforeseen-delays-in-co#ixzz3TKirNcgT
A NT 10-K Notice of late filing tweet!
http://www.benzinga.com/news/15/03/5291898/nt-10-k-from-plug-power-shows-notice-of-late-filing-cites-unforeseen-delays-in-co
I hope this doesn't mean that March 17th release date has been re-re-scheduled.
$$$ and Stacks per GenDrive?
I've been looking for specifications on the various models of stack and GenDrive but haven't found any good way to correlate the two.
Without the product mix information, price list, and specifications the stack count is for me not much more than a warm and fuzzy number that gives a very sketchy view of potential revenue.
If you can shed some light on this topic I would be very appreciative.
All great stuff - for the MVTG board
Admittedly PEM fuel cells compared to the greater energy storage and conversion market are currently about the equivalent of a flea on the butt of an elephant in just about every meaningful measure out there.
That being said MVTG and it's technology (employing formic acid and/or hydrazine) AT THIS POINT IN TIME are, from a commercialization standpoint, simply NON-EXISTENT.
It's great that there are patents. It's great that there is NSERC funding. It's great that there is an association with Alstom-GE and Ballard. It's fantastic that someone somewhere is going to make a vehicle powered by this thing, and it's even better that a bunch of people at UBC are really pouring their hearts and souls into trying to save the world from the menace of CO2 and global warming through ERC and that the MRFC can be made to use the formic acid the ERC produces.
Unfortunately there is, in my opinion, not a(an):
- existing implementation in even one real world practical application
- installed base of systems using this technology
- sources and infrastructure to support the supply and distribution of the fuel mixture
PEM fuel cells may one day be replaced by MRFC, but one thing is PAINFULLY obvious - today is not that day, and IF that day ever comes there will be many, many tomorrows until it does.
BTW the numbers that I quoted were off the Google Finance web site for the annual reporting periods of 06/01/2011 to 05/31/2014, being the most recent four years for which data is available.
http://www.google.ca/finance?q=OTCMKTS%3AMVTG&fstype=ii&ei=BefzVKHIHMPsrgGupoHgAw
If these are in error I suggest you contact either MVTG to advise them of the erroneous data, or Google to get the correct figures posted there. (I certainly have not tried to mislead anyone by doctoring or cherry picking the numbers.)
Finally I will quote from the terms of use for stock specific boards which appear to the right of the composition window :
•You are posting to the Plug Power Inc. (PLUG) board. Please keep your post about the stock and company. Do not post about other users or other stocks.
•Your post may be removed if it contains off-topic or other content that violates the terms of the Terms of Service.
Good snag aassnnaapp!
Paul Middleton had the 2014 revenue breakout at about 50% GenDrive, 20% infrastructure, and 30% GenFuel+GenCare+ReliOn. Combined with a $65M inferred total revenue and delivery of 2600 GenDrives in 2014 the approximate revenue per unit is about $13K.
Shipping 1704 stacks in one quarter (ending 12/31/14) represents a run rate of approximately 2.6X the average run rate for all GenDrives in 2014.
MVTG has been a threat to their investors...
Cumulative over the last four years (in millions):
Total Revenue 0.28
Cost of Revenue 0.01
Gross Profit 0.27
Operating Expenses 4.66
consisting of :
SG&A 3.78 (81%)
R&D 0.84 (18%)
Depreciation 0.12 (balance)
Thank you Digra!
I look forward to reading about any reply you might get back, or even if you don't get a reply at all.
Losing money is one thing...
losing your self respect and consideration for others is far worse.
Thanks hbhmb!
Boards are a place for information exchange
not simply to pump a particular stock just because I happen to own it. If I'm coming here to get information I am at least willing to put in time and effort to bring something meaningful to the board. Hours of work researching the internet go into every post to make sure the information is accurate. (OK LM$20AO didn't get hours of research.)
The better people understand what is driving the stock price the more profitable they can be in their investing.
If you got the impression that I'm REALLY skeptical on PLUG in the long term with their current management team your right. If you got the impression that I have lost money because Andy can't keep a commitment for 4 weeks your right...and I'm sure I wasn't the first and that I won't be the last. There is a trail of pie-in-the-sky guidance with promises of Q4 EBIDTA profit every year going back several years now.
This is a company with a lot of problems and a lot of baggage that has resulted in more money going out the door in law suit settlements ($5M insider trading, $3M and counting on Soroof after promising deliveries of vapourware product and coming up empty) than they have ever made in profits. Paul Middleton said in the January business update that the Soroof settlement would effect the Q4 results.
The only reason I'm holding it right now is the potential for a significant rise IF and WHEN new deals are announced.
At this point I think it is in PLUGs interest to keep the new client names bottled up to perpetuate investor buzz and keep more investors away from the exits - it is simply beyond the realm of belief that EVERY time the company signs a significant deal (Walmart, Ace Hardware, SouthernLinc, Home Depot?, Nike?...) that the customer name is witheld from the shareholders.
Investors would be much more comfortable with PLUG long term if there was any significant improvement in the way they are being treated. There have been relatively few plays from the bad company playbook that we have not been subjected to - we've had insider trading, repeated dilutions, and now apparently witholding of relevant information. As shareholders we're getting played...
I don't consider posting the truth about PLUG on this board to be either bashing or sniping. If I've posted incorrect information please post to the board saying so.
I don't come to the board for to be constantly reassured that PLUG is the best investment on the face of the planet, I come to learn from everyone who posts here and to give back when I can.
But if it makes you feel better I also hope PLUG goes up, so...
BIG DEALS ARE REAL.....SHORTY YOU BETTER COVER NOW...GREEN COMING IMMINENTLY!!!!...PICTURES OF RUNNING SHOES & LUMBER!!!! GLTA PLUGGERS!!! BLDP CONFIRMS BIG DEALS-$5 COMING EASY...SHORT SQUEEZE IS COMING
Earningswhisper.com does Plug
http://www.earningswhispers.com/stocks.asp?symbol=plug
The whisper is -0.05/share on the quarter. This would bring the annual earnings to -0.58/share.
Yeee doggies!!!
That will bring the loss per share down almost 40% in two years. At this rate PLUG will only be losing about 0.35/share by the end of 2016!
Hopefully the HD contract will be enough to draw in new investors who either aren't painfully aware of PLUGs dismal profitability history combined with Andy's (somewhat less than) spotless track record as CEO, or who are naive enough to believe that the merits of a nascent technology will be enough to result in a huge profit in spite of these.
Still long 'cause the market is full of greater fools than I,
canadajim