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My sentiments exactly we might find out more about it in tomorrow's conference call but I doubt it. Not once an analyst or somebody actually asked the question
So according to Clay's chart video, we flatline at 26 showing strong support and uptrend on the low, then up! IMO no news till next week.
The 40 million financing is from 3 years ago or five years ago
We get some sort of an update from South Korea by the June conference call I'm sure. I don't know the posco is stupid enough to get out of the FuelCell business with the current excitement and interest in fuel cells especially from South Korea to me that just sounds like a horrible business move. Could they really be that ignorant they made a bad deal they lost money on does that mean they just give it up. I don't know what's true and what's not true coming out of South Korea I heard a lot of things about fake stories. And I've seen conflicting news reports from the same newspapers. One time they wrote about how posco cells were faulty at the 59 megawatt project and another time the same newspaper wrote about FuelCell energy cells being faulty. No retraction from either one. Either posco gets out and we can mark it directly or posco uses us as a partner or to maintain their current installed units. Either way we most certainly get more business in more money from posco before the fiscal year end
Might want to cover to lock in profits. Shorts don't want to give up gains. Squeeze pops to $.40 or $.50 on no news. However, everyone knows they need a news release within the next 6 business days.
Give it up Dany that henrique article is a month-and-a-half old and contributed to the plunge. Read this article about the DOE NETL project in Pittsburgh that was just completed.
https://www.netl.doe.gov/sites/default/files/2017-12/DE-FE0026199-Kickoff-Meeting-12-14-15.pdf
Read facts carefully! DOE NETL project in Pittsburgh!
https://www.netl.doe.gov/sites/default/files/2017-12/DE-FE0026199-Kickoff-Meeting-12-14-15.pdf
Must read! Relevant to what's been going on with FuelCell stock!
https://finance.yahoo.com/news/tesla-takes-short-seller-court-051643259.html
I agree with the reverse split being very likely and the offering of more shares. Letting people go was a wise business decision although obviously not good for everyone that was let go but that's business and part of life. I feel for them especially around the holidays. But nothing justifies people spreading false rumors. I was informed many people were standing around with nothing to do for weeks. Those people were fortunate the company hold on to them as long as they did. They could have saved more money by letting them go weeks earlier, but it was likely a decision that was made after the annual shareholders meeting. That said with letting those hundred and thirty-five people go and acquiring Bridgeport, that is over a 30 million dollar turn around for the following 12 months. Of 30 million-dollar turnaround is massive for company in this situation. And by the time this all comes to fruition they will hopefully have paid off the c&d preferreds. And they will definitely have income from a Power purchase agreement 4 triangle Street and Tulare will be cod either through a power purchase agreement or a straight-up sale. With timely execution of just the projects scheduled to be completed this fiscal year, profitability will be in clear sight. Again pending execution by the beginning of fiscal Q2 2020 they will be on the verge of profitability. With profitability approximately one year away and so many relationships involved with FuelCell energy I have the utmost confidence this will be resolved. There are several monsters hiding in the room also, which could be unveiled at any moment. South Korea, ExxonMobil, California, and now Hyundai. They obviously restructured things until the end of April so we will certainly find out more by the first couple days of May. Hopefully for all those seriously interested in the company and there technology or who have investments in the company, they complete several significant things between now and the 1st of May. Good luck to you and everyone I truly hope everyone has a great holiday because I am a human being with a family.
If you scroll down and look on the right side here on this link most news is there. But the FERC link about Triangle St is not. Neither is the minutes from Greenbank March 29 meeting approving $6 million toward closing of BP Acquisition but they both have been posted on here.
All that was off the top of my head after just waking up so a date or $ amount could be very slightly off, but I don't think so. All info is readily available and already in here.
All links are already posted. Since December they have a draw down from NRG for $5.7 million, a lending facility from Generate Capital for $100 million with expansion to $300 million if certain requirements are met, (1st draw down of $10 million taken in January I believe) Lending from 5th 3rd bank for $23 million for the 7.4MW Navy Fuel cell project in Groton (at 2.5% + Libor) and $6 million from Greenbank Friday 4/12/19 as a secondary loan for the acquisition of the 14.9MW FuelCell Park in Bridgeport (they constructed in 2012 and maintained ever since). BP was originally sold to Dominion Energy 2012 for about 3-4 times the price they are reacquiring for ($36.6 million). Park has 50% margins and will bring in $15+ million revenue a year. 3.7MW Fuel cell on Triangle Street just went into commercial operation on Monday 4/15. Link to FERC info was posted previously on 2 separate occasions. That was being operated by FuelCell for a few weeks then turned over to Electric co under PPA on Monday 4/15. NRG Center just had their first SOFC COD announcement earlier this month at the NRG Center in Pittsburgh. Tulare is ready to go any day with the Tulare Biomat Fuel Cell (2nd Project with Tulare Wastewater plant). Campbell's has 3 fuel cells from FuelCell once the Bolthouse Farms 5MW project is completed by fiscal Q4 (which they have a $10 million draw down for). They do need cash for operations and they do need to pay off the toxic financing which killed Q1 numbers (which they are certainly working on), But BK is a rumor to create a great short or buying opportunity.
They got $ from Greenbank on Friday 4/12. They are not the primary lender. Needed to close with Greenbank 1st. Will you admit when you are wrong?
They have only been doing the slide show with the path to profitability for about 2 years I believe. Maybe less! After they started selling PPA's to show people the concept of growing recurring revenue and selling more projects based on the company's or purchaser not needing to dish out millions to get a fuel cell.
LIPA, LIPA, LIPA! 1 7.4MW project in Yaphank under construction. Completion date less than 1 year out. Once completed, profitability!
Bridgeport, Bridgeport, Bridgeport.
1) Did you read the FERC website post from last light. Pg 8. Triangle St went commercial operation Monday 4/15/19. 2) Tulare done this month!
3) NRG Center SOFC COD per SEC filing within the past week!
Very sorry to hear about the job cuts for the company and employees, but business wise the correct move. $11.5 million was just the salary, total 1 year savings benefit for the company closer to $15 million. Add $15 million revenue for Bridgeport, $30 million. Add NRG project (unknown amount) at least $1 million, Triangle Street is at least $4 million and Tulare at least $3 million. My estimate is around a $38 million turn around in less than 1 month. Finally looks and sounds like a business. Big news this wee
You're very small part of my confidence has to do with the company at this point. My confidence has to do with the Federal Energy regulatory committee, four different banks, several different institutional investors, and current price and activities. The product is real and the product is good that is absolutely one of the most important things. There are repeat customers. The technology is unique and covered by patents. There are several large institutions in company affiliates. Several friends I have met over the years as well as myself have done our diligence on top of the diligence these other companies and banks have done. The company has taken action to move towards profitability. The one bad move they made that everybody is aware of is the toxic financing. Hopefully they will resolve the toxic financing and have clear short-term site of profitability. unfortunately I was not aware of how bad the toxic financing was until this year. If I was aware I would have waited and watched and invested a larger percentage of my money recently instead of previously. I'm perfectly okay with what I've invested recently as I'm very confident the company is going to recover and recover quickly. If I'm wrong anybody who's doubted me can say I told you so. I don't believe that's the case. I was almost ready to cut my losses until I dug in and did more research over the past couple days. At that point I decided to invest more. And if you look through people that don't post on the message boards all of the time there are more and more people that are interested in investing in this company especially at these levels.
Purchased 20k shares premarket at $.249 this am. Speaking on deaf ears I have backed off
Not quite sure where you're getting your quotes from or your opinion what Plug Power has bled much more cash than FuelCell. The only FuelCell company that has not had cash issues is Ballard do a little research and let me know if I'm wrong. as long as FuelCell completed the closing on Friday they have just improved their financial situation over $26 million dollars over the coming year according to the latest SEC filing. They obviously need to prioritize execution right now and paying off their current financial obligations. That could take one to two months. Hopefully they will get it straightened out sooner and be able to give everyone a pleasant update.
I knew about this before most people just didn't know the exact number. and if you believe he was the brains behind everything, it's probably a good thing he's gone. Execution of projects being delayed is why they are where they are. No sensing pain people if you can't have them do anything for you while they're there. They just need to execute the things they have lined up in a timely fashion if they don't it won't get any better. Everyone who's anyone who's been paying attention knows their lack of execution is the reason they're in the spot. I don't think they thought about how long the closing of the Bridgeport project was going to take. The banks had to send their engineers in and verify the efficiency and functioning of the project before they could finalize the closing then one of the banks had to reallocate money. Hence why Greenbank had to reallocate money. That closing was supposed to be on Friday and we will definitely hear something by Wednesday.
Sucks when anyone loses a job especially for downsizing. Happens to a lot of people regularly and often from good companies, ie, Ford, doesn't mean everyone needs to lose their job or we wish ill will on anyone else. I'm sure there are some good fair people still depending on their employment and success. Good luck Dany. Focus on facts and getting a new start.
Closing was Friday, 4/12/19
Sorry to hear about your father. Second person I know lost their father recently that I communicate with from the message boards.
As far as what they have to cover I'm not sure all I know is the banks didn't seem worried about them. And although they have assets the banks are investing in them planning on selling off their assets. There are a whole lot of people involved in trying to make this company work including politicians. Unfortunately not the likes of Colin Powell or Al Gore. And I know they're all a bunch of people that have been and will continue to try to put downward pressure on the stock. Just doesn't make any sense did they would be so close to exploding and getting significant commitments from 5 different lenders recently envy in immediate Jeopardy of default or bankruptcy. Makes no sense whatsoever. very high-profile project just announced completed for NRG in Pittsburgh. high-profile project in Long Island under construction with a sign power purchase agreement. Two more projects totaling oval 32 megawatts in Long Island about to be signed into Power purchase agreements any day. they're calling Bridgeport and adding over 15 million dollars a year in Revenue. Triangle street is going into commercial operation bring in a substantial amount of recurring Revenue on Monday. Tulare is going into commercial operation in May. Not if they had completed these projects on time there would have been no rumors and the stock would never be below a dollar but unfortunately here we are.