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CLNE has reduced debt by approximately $305 million this year (my math) from 572m to around 270m.
The interest reduction alone will amount to around 15m/yr.
I don't like the dilution, but I am comforted by the fact that ~50-60m shares paid down $300m in debt ($5-$6 per diluted share)
Market will realize the benefits soon IMO.
These links pretty much tell the tale of what has happened with FCEL recently.
http://m.newstimes.com/business/article/FuelCell-Energy-pushes-industry-forward-10906277.php
http://m.newstimes.com/business/article/Fuel-cell-industry-state-seek-common-ground-on-10923509.php
https://canaccordgenuity.digitalagent.ca/documents/21419/23566/FCEL+Report_Jan+19+2017.pdf/787e8355-2eca-43e8-9d08-52c8fabf3f39
Nice call lol
Increasing revenues, sales volume, and share count.
Decreasing debt and improving balance sheet.
Sure it is!
How bout you explain your new 10% institutional investors sudden interest in the company.
Death spiral financing
https://en.m.wikipedia.org/wiki/Death_spiral_financing
Looks like PLUG sold out the common shareholders for an $18m convertible debt arrangement.
IMO, you would be wise to read this and take heed! 10k share count will tell the tale.
You should assist the capitulation. Standing by here.
BRIEF-Hudson Bay Capital Management, L.P. reports 9.99 percent passive stake in Plug Power Inc as of Dec 31 2016
http://mobile.reuters.com/article/idUSFWN1FK0PO
Request was filed in conjunction with the shelf registration to protect the documents detailed below.
https://www.sec.gov/Archives/edgar/data/1093691/000104746916017109/a2230472zs-3a.htm
Exhibit
Number Description of the Document
5.1 Opinion of Goodwin Procter LLP.
10.1
*+
Master Equipment Lease, dated as of June 30, 2014, between the Registrant and Manufacturers and Traders Trust Company.
10.2+
First Amendment to Master Equipment Lease, dated as of December 19, 2014, between the Registrant and Manufacturers and Traders Trust Company.
10.3
*+
Second Amendment to Master Equipment Lease, dated as of December 30, 2015, between the Registrant and Manufacturers and Traders Trust Company.
10.4
*+
Waiver and Third Amendment to Master Equipment Lease, dated as of June 7, 2016, between the Registrant and Manufacturers and Traders Trust Company.
10.5
*+
Master Lease Agreement, dated as of June 3, 2016, between the Registrant and Generate Capital, Inc.
12.1
(1)
Statement of Computation of Ratio of Fixed Charges and Preference Dividends to Earnings.
23.1
Consent of KPMG LLP, Independent Registered Public Accounting Firm.
23.2
Consent of Goodwin Procter LLP (included in Exhibit 5.1).
24.1+
Power of Attorney (included on signature page).
25.1
(14)
Form T-1 Statement of Eligibility of Trustee for Senior Indenture under the Trust Indenture Act of 1939.
25.2
(14)
Form T-1 Statement of Eligibility of Trustee for Subordinated Indenture under the Trust Indenture Act of 1939.
*
Application has been made to the Securities and Exchange Commission for confidential treatment of certain provisions. Omitted material for which confidential treatment has been requested has been filed separately with the Securities and Exchange Commission.
150m shelf filing.
They gave away at least $.03 per share on the ill fated Hercules loan. Minimally, $4 million financing loss to be recorded in the 4th quarter alone. Anxiously waiting to see how the share price performs on a VWAP basis for the seven trading days prior to the first installment due date (Jan 31) for the series D.
I still hold a portion of my position but am deeply skeptical of the new convertible preferred owners and their intentions. I suspect that the holders of common will be diluted out of their share regardless of the success profile of the company!!
Been there!
I'll be topping off my position at $2.80
The $.40 floor on the convertibles might be a clue.
Dumped most of my shares today. $1.20 is gonna look real good I. A few months.
I'll keep an eye on it, but no way I'll renter until the toxic debt has been retired.
See you at 500 mil outstanding.
Wow, brought my average down by more that $.75/share this week!!
Coupled with prior gains, I'm in deep (for me) with an average less than $2.70
The market will realize soon that the company is aggressively paying down debt (transferring to shareholders is probably more appropriate) and all of a sudden, we will have a growing company with no debt. Cept for those 7.5% convertibles that just happen to be majorly owned by the founder. T Boone
I have been loading the last few trading days. Brought my average down by a significant amount. I'm in deeper than I've ever been at this point.
There will be a minimum, 10 mil gain on the "extinguishment of debt" on the next q. (.07/share). Market should deliver a positive reaction vs expectations.
I anticipate that the dilution will go away when the 5.25%ers are gone.
The last announcement of 90 mil secondary will eliminate them.
Much better terms for this 25m loan than the last with Hercules.
https://www.sec.gov/Archives/edgar/data/1093691/000110465916163841/0001104659-16-163841-index.htm
As of September 30, 2016, 15,941,860 shares of our common stock held by our co-founder and board member T. Boone Pickens were pledged as security for loans made to Mr. Pickens. We are not a party to these loans. If the price of our common stock declines, Mr. Pickens may be forced to provide additional collateral for the loans or to sell shares of our common stock in order to remain within the margin limitations imposed under the terms of the loans. Any sales of our common stock following a margin call that is not satisfied or any other large sales of our common stock by our officers and directors, such as Mr. Pickens' sale of 1,500,000 shares of our common stock in August 2016, may cause the price of our common stock to decline.
https://www.sec.gov/Archives/edgar/data/1368265/000136826516000036/clne-09302016x10q.htm
It's truly ridiculous that the company would pay more than $5 million to take out then pay off a loan within 6 months of inception.
Worse than that they pay it off with toxic convertible debt and an unknown "investor".
Better be dropping some big news soon or this one is toast!!
I must admit that the dilution is getting old. Stockholders are supposedly the goal not the goat.
No comment necessary Jack, since you hold no position.
PLUG retiring Hercules debt with stock offering. Single institutional investor.
Good move IMO, frees up cash and patents.
http://www.globenewswire.com/news-release/2016/12/19/898836/0/en/Plug-Power-Inc-Announces-Pricing-of-Registered-Offerings-of-30-0-Million-of-Common-Stock-Preferred-Stock-and-Warrants.html
Little dated, but it's pretty easy to follow the players, timelines, and chain of events.
****************
INDUSTRY VIPS REVIEW DEVELOPMENT OF FUEL CELLS AND HYDROGEN ECONOMY IN CHINA
Posted 9/21 in the blog
http://www.plugpower.com/2016/09/industry-vips-review-development-of-fuel-cells-and-hydrogen-economy-in-china/
*********************
China Motor City sets up fund developing hydrogen energy vehicles
WUHAN, Sept. 22 (Xinhua) --
http://news.xinhuanet.com/english/2016-09/22/c_135705870.htm
*********************************
Plug Power Signs Cooperative Agreement for Fuel Cell Electric Vehicle Development in China
November 17, 2016
Near-term deliverables for the program include two industrial delivery truck prototypes, both using Plug Power's ProGen fuel cell engines,
http://www.ir.plugpower.com/profiles/investor/ResLibraryView.asp?ResLibraryID=82719&GoTopage=1&Category=44&BzID=604&G=795
Perhaps they should stop hiring so many high income/IQ employees so the low income guys have something to do besides cleaning the shop floor and waiting on parts.
https://plugpowercareers.silkroad.com/ppcext/EmploymentListings.html
Here's a five year version
https://www.congress.gov/bill/114th-congress/house-bill/5167
And here's a two year version
https://www.congress.gov/bill/114th-congress/house-bill/6385/text
All are sitting in committee and going nowhere, at least for the moment.
It was a factual statement.
https://www.sec.gov/Archives/edgar/data/1093691/000104746916016884/a2230343zex-10_4.htm
I wonder if there's any new business for CLNE here?
Order Complete: LA Metro Receives 900th New Flyer CNG Bus
In July, the transit agency issued a request for proposals for as many as 1,000 more natural gas buses
http://ngtnews.com/order-complete-la-metro-receives-900th-new-flyer-cng-bus
Chevrolet and GMC Fleet Trucks, Vans Soon to be Available with CNG
https://www.trucks.com/2016/11/22/chevrolet-gmc-trucks-vans-cng/
"First of several" Marsh!
http://www.bizjournals.com/albany/news/2016/11/17/why-plug-power-has-partnered-with-chinese.html
INDUSTRY NEWS TECHNOLOGY
Why Plug Power has partnered with Chinese companies
Plug Power CEO Andy Marsh has made several trips to China over the last few months.
DONNA ABBOTT-VLAHOS
Chelsea Diana , Reporter
Nov 17, 2016, 1:30pm EST