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Sold my 5k shares for a 40k profit but “I’ll be back” when the market more fully understands valuations. 12b$ is too much for now. One day may be a 100b plus company.
Pre-clinical? What could go wrong?
Someone is buying up any FCELB share you will let them have in the $250-$260 range.
I hope the vot is approved so I can feel more confident that my FCELB dividends are secure.
How did today’s AS increase vote go, and what do you think the implications are if approved or disallowed?
Just waiting to say “I told you so”
Dang it, another delay! This was supposed to be online this year!!
Delay and dilute is the business plan!
Since that I’ll fated post, the company has dumped approximately 400 million shares on the market/shareholders and the split adjusted share price has dropped from over $60 per share down to the current $1.90 per share which is significantly up from the $.20 cents area it was sitting at last year.
Be careful here.
Thanks
My point is that the stock is overvalued and shareholders will suffer from ongoing and incessant dilution.
Few’s first official act as CEO was to register an ATM offering.
https://www.bloomberg.com/amp/news/articles/2019-08-20/fuelcell-names-new-ceo-as-troubled-clean-tech-company-retools
His second official act was to file a preliminary proxy seeking a reverse split and to double the AS shares from 225m to 450m
https://www.sec.gov/Archives/edgar/data/886128/000110465919056581/tv531228-pre14a.htm
The only reason that’s not where stockholders are at now is that they couldn’t get the votes.
I’m sure everything is different now since zero new sales have been announced since his arrival.
Stock is overvalued in part due to incessant pumping.
Most of the massive dilution occurred after the leadership change. Bottone was gone June 6!
Few was announced on August 20 2019 after sitting on the board throughout.
https://www.bloomberg.com/amp/news/articles/2019-08-20/fuelcell-names-new-ceo-as-troubled-clean-tech-company-retools
https://seekingalpha.com/amp/news/3469595-fuelcell-slammed-after-hiring-restructuring-firm-dismissing-ceo-bottone
May 8, how fitting! History certainly indicates massive dilution on tap if they get their votes. I would’ve an absolute NO! if I held any shares.
On May 8, 2019, FuelCell Energy, Inc. (the “Company”) filed a Certificate of Amendment of the Certificate of Incorporation to effect a 1-for-12 reverse stock split (the “Reverse Stock Split”) of the shares of the Company’s common stock, on May 8, 2019. The Reverse Stock Split will reduce the number of shares of Common Stock outstanding from 183,411,230 shares to approximately 15,284,269 shares.
https://www.sec.gov/Archives/edgar/data/886128/000156459019017009/fcel-8k_20190508.htm
10q 6-17-19
Number of shares of common stock, par value $0.0001 per share, outstanding as of June 13, 2019: 27,424,239
https://www.sec.gov/Archives/edgar/data/886128/000156459019022672/fcel-10q_20190430.htm
10q 9-9-19
Number of shares of common stock, par value $0.0001 per share, outstanding as of September 6, 2019: 125,914,240
https://www.sec.gov/Archives/edgar/data/886128/000156459019034309/fcel-10q_20190731.htm
10k 1-22-20
Outstanding at January 14, 2020
Common Stock,
210,965,999
https://www.sec.gov/Archives/edgar/data/886128/000156459020001558/fcel-10k_20191031.htm
Sounds to me like they still don’t have their votes. Wonder what will happen if they don’t get them? Time is running out.
Pretty much already know what will go down if they happen to get them.
6 million $ government handout and the company immediately assigns most of it to executives and directors.
America will never be a socialist country for the little guy!
I see XOM announced a 30% Capex reduction today. No doubt in response to Covid, flu, and second hand smoke.
Exxon Mobil is cutting its 2020 capital expenditures by 30%, as it deals with the impact of falling oil prices. CEO Darren Woods joined @SquawkCNBC to discuss. https://t.co/Mcl1KdxuO6 pic.twitter.com/dtRXVRTXXa
— CNBC (@CNBC) April 7, 2020
I see they added language to the “risk factors” for their filings going forward. Not surprised to see Covid 19 included but, I was surprised there was no carve out for seasonal influenza or second hand smoke!
Surprised there has been no discussion about the Posco debacle that you posted a couple days ago. That does not bode well for FCEL at all. Pretty wild that they attached service revenue from the KOSPO project to the dispute.
When is the vote to increase the AS by 50%? Coming right up isn’t it? Even if they are prohibited from an ATM, I’m sure they could/will proceed to a direct offering. The one thing I’m certain of is that there will de significant dilution on tap. Not like they don’t need money!
Yep, sad that all those documented buys were pre split. Hopefully they found another way to recover given the were business insiders. Hopefully they got in to some of the winners in the field as well.
Here's a repost in case ya'll missed it. I highly recommend you open the link and read it!
*******************************
Very telling!
Looking at the FCEL split history from start to finish, an original position size of 1000 shares would have turned into 41.6666666666667 today.
Starting investment: $10,000.00
Ending investment: $37.84
Years: 10.01
https://m.splithistory.com/fcel/
https://s21.q4cdn.com/256256048/files/doc_financials/annual_report/2019/tm207232-2_def14a_(CleanNoBanner)_compressed_2020-02-24_09.05.28.pdf
4. To approve the amendment of the FuelCell Energy, Inc. Certificate of Incorporation, as amended, to increase the number of authorized shares of common stock of FuelCell Energy, Inc. from 225,000,000 shares to 337,500,000 shares (the “Increase Authorized Shares Proposal”);
This is going to get ugly Max. no new sales in the last couple years, factory shut down while still paying idle employees, no international travel to work out “differences” AS increase and the inevitable need to raise cash on tap. Projects abandoned or minimally delayed. Connecticut will be a ghost state for the next several months. At least we can take comfort in that so far, the flu has killed more people.
Opinion stated as fact!
Healthy companies will struggle to survive, let alone the ones that have depended and leaned on shareholders for life support for ever!
What happened to SP the last time they announced an ATM?
Gotta link?
Very telling!
Looking at the FCEL split history from start to finish, an original position size of 1000 shares would have turned into 41.6666666666667 today.
Starting investment: $10,000.00
Ending investment: $37.84
Years: 10.01
https://m.splithistory.com/fcel/
https://s21.q4cdn.com/256256048/files/doc_financials/annual_report/2019/tm207232-2_def14a_(CleanNoBanner)_compressed_2020-02-24_09.05.28.pdf
4. To approve the amendment of the FuelCell Energy, Inc. Certificate of Incorporation, as amended, to increase the number of authorized shares of common stock of FuelCell Energy, Inc. from 225,000,000 shares to 337,500,000 shares (the “Increase Authorized Shares Proposal”);
Wonder what’s going on with this development?
Posco Energy files for provisional attachment order against FuelCell Energy
http://mengnews.joins.com/amparticle/3072553
CNN quotes Covid cases at 51,800 cases today. Up by more than 50% in a week. Wow, this may end well but “not today Chuck”
From 15m shares to 215m shares in 10 months!
I’m sure they only need the AS increase for “breathing room”. Surely they don’t have any plans to raise $.
https://investor.fce.com/press-releases/press-release-details/2019/FuelCell-Energy-Announces-Reverse-Stock-Split/default.aspx
50-60MW generation breakeven was last referenced by Chip Bottone around 2 years ago.
Point me to the last breakeven reference by current leadership if I’m wrong.
I’m not really the sort that one should dismiss if your long FCEL.
Lots more negative than positive going on out there.
Covid cases are doubling every 2-3 days in the US and fuel cells are not cost competitive. Reference the link below.
When is the 50% AS increase vote again?
https://www.utilitydive.com/news/pge-sce-abandon-big-microgrid-plans-for-temporary-emergency-measures-as-w/574506/
I knew that was a mistake as soon as I made it. Glad to be sitting on zero again with another 10% gain.
How many years since we first heard this? 2016?
What happened to the Barry Ala pilot? May take decades? That one appears to be dead.
May just be a quick flip, lots of dry powder.
Although I remain skeptical, I dipped my toe back in today. ExxonMobil may just deliver sustainability for the long run.
FuelCell Energy’s transformational work with @exxonmobil to deliver a massively large scale #carboncapture solution was recently highlighted at the Exxon Mobil Investor Day. We are progressing the design toward a pilot project at the Rotterdam refinery in the Netherlands. pic.twitter.com/do2WUaXlye
— FuelCell Energy (@FuelCell_Energy) March 17, 2020
If you going to play speculative and volatile when the sun is shining, you must be willing to, and expect, that a storm will come, and you may get caught out in the rain.
BLDP from $14.20 to $8.93 and going way lower, on this news. If FCEL announces an atm, what will happen to pps?
Ballard Establishes ATM Equity Program
https://www.ballard.com/about-ballard/newsroom/news-releases/2020/03/10/ballard-establishes-atm-equity-program
Multi year bear market on tap.
Green only crowd (gas doesn’t count, see Germany and California).
Posco litigation.
Abandoned projects.
50% AS increase with history of leaning on shareholders for funding.
Oil at <30bbl.
There’s more but I’m not sharing yet.
Award was almost 3 years ago. Why is this project taking so long? Even if they get a PPA (seems doubtful to me) how long to build them out and start generating revenue? 2025?
https://www.globenewswire.com/news-release/2017/07/26/1062971/0/en/FuelCell-Energy-Announces-the-Award-of-Three-Fuel-Cell-Projects-Totaling-39-8-Megawatts-by-Long-Island-Power-Authority.html