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Aramco, Woodside Said in Talks to Invest in Tellurian LNG Plant
https://www.bloomberg.com/news/articles/2024-06-04/aramco-woodside-said-in-talks-to-invest-in-tellurian-lng-plant?utm_source=google&utm_medium=bd&cmpId=google&embedded-checkout=true
Isn’t Camfield7 and Hoghead 7 one and the the same person Barry?
So is this company going to live or die?
Why would any responsible manager spend what has been spent on a dead horse?
Should I buy100k shares at this price and laugh later or should I just standby and regret that decision down the road?
Convertible bond holders are shoring this stock heavily. They can convert to cover at anytime (at a discount no less). No purchase necessary. Most likely will see .38.
100m$ converted at .38 is what 280m new shares of dilution?
Grisky sold us all out, he needs to go!!!!
Company has operating funds but the share structure is toast!!
Tellurian and Baker Hughes agreement.
https://ir.tellurianinc.com/press-releases/detail/278/tellurian-and-baker-hughes-announce-agreement-for-driftwood
Yep but they could also drive it to .38, cover their shorts let it recover to say 1.00 and do it all over again. They could care less about you.
If you can invest 100m plus, trust me your in it for the $.
The one thing we can all count on is that the holder of these convertible notes is in charge. I wouldn’t put it past them at all (actually expect it) to short the stock ruthlessly and use conversions to cover. If the company comes out with great news, they can convert all they want at lower than prior days market prices (before the news) and ride it up on any favorable event. Nothing to stop them from shorting again from higher prices. If the stock runs to 10$ someday they can get all they want at $2.94. I’m looking for an exit and hoping to get even and lucky!
Applicable language.
Rank. The Notes will be senior unsecured indebtedness of the Company.
Voluntary Conversion. At any time on or after August 21, 2023, all or any portion of the principal amount of each Note, plus accrued and unpaid interest, any make-whole amount and any late charges thereon (the “Conversion Amount”), is convertible at any time, in whole or in part, at the noteholder’s option, into shares of Common Stock at a conversion price per share (the “Conversion Price”) equal to the lowest of (i) a “reference price” of $2.94, subject to certain adjustments (the “Reference Price”), (ii) the greater of (x) a “floor price” of $0.38 (the “Floor Price”) and (y) the volume weighted average price (“VWAP”) of the Common Stock as of the conversion date, and (iii) the greater of (x) the Floor Price, and as elected by the converting noteholder, (y) either (X) depending on the delivery time of the applicable conversion notice, (1) the VWAP as of the applicable conversion date or (2) the VWAP immediately prior to the applicable conversion date and (Y) 95% of the average VWAP for the three trading days commencing on, and including, the applicable conversion date, subject to adjustment in accordance with the terms of the Notes.
Alternate Conversion. At any time during an Event of Default Redemption Right Period (as defined below under “—Events of Default”), a noteholder may alternatively elect to convert all or any portion of the Notes at an alternate conversion rate (the “Alternate Conversion Rate”) equal to the quotient of (i) 115% of the Conversion Amount, divided by (ii) the Conversion Price.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1731289/000119312523216432/d501979d8k.htm
I would sell stock into the market under a standard ATM offering. I would NOT enter into a toxic death spiral financing scheme. These convertibles have the potential to destroy any value that currently exists for common stockholders.
Study and understand the conversion formulas. It is not $2.94/share. It is 95% of the prior 3 day moving average.
“August 17, 2023 : Girsky’s goal at Nikola: Don’t ‘screw up the momentum’ “
First official act as CEO - screw up the momentum!
Probably why the former guy left, saw this toxic financing on the table and didn’t want to be a part of it!
Grisky’s vision for Nikola.
Looks like he’s doing the interview in a mirror lol.
Apologize if this has already been posted.
Second fire was a staged and planned recreation solely to verify investigation findings.
How about a single example of a commercial deployment of ccus? Demo, research projects, tests blah blah blah.
But we can do this! Sell something and maybe I’ll perk up.
Up days are always on someone else’s coattails. All the hype on hydrogen, but can you point to one existing example of commercial hydrogen sales or just the we can do this/we can do that research. Perhaps Toyota will change that reality.
This statement is not true.
It’s the second attempt at a SureSource 4000 installation. Both projects were subject to massive delays!
This one is almost 3 years late and still dealing with delays and lack of performance.
***************
The Company is extremely proud to announce the commercial operation of this first installation of the SureSource 4000, as it is excited about the two SureSource 4000 power plants currently being developed on the U.S. Navy Subbase in Groton, CT. The U.S. Navy base project is further evidence of the mission-critical microgrid applications that FuelCell Energy power platforms support. The U.S. Navy project is anticipated to become commercially operational in 2020.
https://www.globenewswire.com/en/news-release/2020/04/21/2019259/8041/en/Triangle-Street-Project-Begins-Commercial-Operation-SureSource-4000-High-Efficiency-Fuel-Cell.html
Groton is built utilizing two SureSource 4000 MCFC- Yaphank utilizes three SureSource 3000 MCFC modules.
Remember Triangle Street and all the issues with that installation? Believe it was the first and only other 4000 in existence. Not sure if it continues to operate.
Would supply links but not all that interested in this one these days.
We had countdowns to July 31 of 2020 for Groton. 10…9…8 etc. guaranteed!
I for one would like to see a cease and desist order executed soon. Reality is that this company has continually promised the world while delivering very very little. The current new website promotes numerous products and platforms where not a single installation actually exists. All the while printing and dumping stock. How do you think they came up with that existing (380m$?) cash balance? Suggest anyone with a real interest do some dd on share structure history. I own shares, but will either take the loss or hopefully break even if I decide to hold. They have a very long history of delayed deployments of their supposed cutting edge single MCFC technology with first installation dating back decades. If promise can’t deliver, it turns into broken promises doesn’t it? How much time should they get?
a disagreement started a couple days ago when I posted a link indicating that the European Union intended to exclude fossil based hydrogen production systems (FCEL type systems) from subsidy consideration. Some believe that FCEL’s nonexistent hydrogen production would qualify as green when it doesn’t. The point I was trying to make is that fossil based systems are systematically being excluded by the green energy crowd and legislative bodies. Couple examples would be the loss of LIPA 2 and 3 (electricity not hydrogen) due to exclusion of fossil fuel fuel cell systems in green energy procurements. Connecticut procurement headwinds, EU subsidies. Opposition is building. FCEL, says they can produce hydrogen (and they probably can) but their fossil based systems will be fighting regulatory headwinds from the green crowd. They would only qualify as green when using directed biogas (Toyota) or possibly the high temperature electrolysis systems studied in the nuclear power plant projects that they have demonstrated. I would have to take a deeper dive into the SOEC systems under development to make a determination. Fossil based systems with carbon capture are/will be considered blue regardless of the percentage of CO2 captured.
UK, do you have a feel for how much of the electrolysis based hydrogen production worldwide, is actually green (wind/solar/nuclear) and and how much is using gas/coal fired electricity?
Don’t think there’s enough wind and solar to go around to power the planet. I’m not saying I agree with the regulators about the exclusion of fossil based systems especially with capture, but that seems to be the increasing reality. Truth is that most hydrogen will be produced using the most cost effective solution.
That’s almost laughable, what percentage of FCEL’s worldwide installed base runs on Biogas? Couple of wastewater treatment plants. Then you show a link to carbon capture from a gas fired power plant. I know the technology and it’s potential pretty well. Currently FCEL is in the business of producing electricity and heat from fossil based systems with no commercial hydrogen applications to date.
Problem is they are not yet deploying any of those “new” platforms. They are way behind the curve as electrolysis is dominating green hydrogen at this point. When do they step onto the playing field?
Um, Does that mean they will completely miss out on this initiative?
Fact is that if FCEL ever gets off the ground producing hydrogen in a significant fashion, it will most likely be via fossil gas based systems.
https://netl.doe.gov/node/11495
Yes I know, currently they don’t produce any hydrogen period. Toyota TriGen will be there first commercial hydrogen production of any kind to my knowledge. It will be using gas but not of the fossil variety. Most of the MCFC installations use exactly that (fossil gas).
Does not bode well for FCEL in Europe. Fossil Gas based hydrogen excluded from subsidy schemes.
https://fuelcellsworks.com/news/german-government-disavows-blue-hydrogen/
Has FCEL sold one kilo of hydrogen commercially yet? Honest question.
To my knowledge, there has never been a quarter in which generation revenue has exceeded the cost of generation. Certainly never a quarter in which generation revenue per MW came close to $1m/yr.
In the interest of factual information, all per 10K.
…………
Generation operating portfolio 34MW
Revenue from Generation $24m or 700k per operating MW.
Cost of generation $36m or $1.05m per MW.
looks like more generation equals higher losses!
34 modules at 1.4 MW each equates to purchase orders from Korea for 47.6 MW next year. Biggest sale in forever! Market doesn’t seem to care though.
Not exactly,
Agreement provides that, within five days of the date of the Settlement Agreement, POSCO Energy will file an application with the Seoul Central District Court to revoke the attachments. Thereafter, the Company expects to promptly receive the outstanding KOSPO accounts receivable of approximately $11.2 million held by the Seoul Central District Court.
KFC will place a firm, non-cancelable order for twelve SureSource 3000 modules within two weeks after the date of the Settlement Agreement and an additional firm, non-cancelable order for eight SureSource 3000 modules on or before June 30, 2022, all at a price of $3.0 million per module. In addition, KFC agrees to use commercially reasonable efforts to order fourteen additional SureSource 3000 modules by December 31, 2022, at a price of $3.0 million per module if ordered by such date.
4. Payment Terms The purchase price for each Module shall be paid 15 days after FCE’s invoice as follows:
(a) First Payment: 30% upon acceptance of Purchase Order
(b) Second Payment: 30% 60 days prior to EXW date
(c) Third Payment: 40% EXW date
In connection with the invoice for the Second Payment, FCE shall provide to the PE Group an approved production plan that reasonably supports that delivery of the Module can be made within 60 days after the date of invoice.
1. Purchase Price Based on EXW (Incoterms 2020) conditions, the purchase price for those twenty (20) Modules referenced in Sections 2.1 and 2.2 and for up to an additional fourteen (14) Modules referenced in Section 2.3 shall be USD three (3) million, provided that a firm order for each such Module is placed prior to the end of 2022. FCE shall hold the price at USD three (3) million per Module for any additional orders provided that such orders are placed by 31 December 2022. For any orders for additional Modules or Module orders placed after 2022, FCE shall use its commercially reasonable efforts to supply Modules at a price reasonably adjusted reflecting market conditions as well as any increases in costs.
FCE has the option to purchase up to eight (8) units of BOP for FCE’s new MCFC projects within Korea at a price of KRW 2,550,000,000 per unit.
Lease/Sale of KFC Facility
3.5. If FCE desires to manufacture any related components of MCFC power plant in Korea, PE Group and FCE shall discuss in good faith the lease or sale of KFC’s MCFC manufacturing facilities to FCE
0001104659-21-153408 (d18rn0p25nwr6d.cloudfront.net)
The removal of the huge Posco cloud was enough for me to buy back into FCEL. No longer looking at the possibility of an $800+m judgment in arbitration. Assurance of a 47MW Purchase order over the next year at a value of $102m and release of $11.2m service revenue that was held up in arbitration.
There is also a possibility that FCEL either leases or purchases the Posco production facility that is no longer in operations in SK.
Having said that, I am still suspect and will be cautious with a company that is a serial diluter and will undoubtedly be back for more. I can jump out as easily as I can jump in but for now, let’s roll FCEL!!
Anyone here know how many shares have been issued/diluted in the last 3 years or so?
IMO the lipa and ct projects that have not moved forward at this time are both dead. The real problem is that when compared side by side with solar and wind projects, fuel cell projects are not as clean nor as competitive.
Does not bode well for the future, unless they can come up with a zero carbon alternative such as nuclear hydrogen.
IMO - unsupported theories of "bullshit" are just a bunch of bullshit...
Question for the board, why would Orion execute a release of its security interests in FCEL patents on October 15 when the payoff did not come until December 11?
Also, why did the stock rise so meteorically (from $2 to $11) between the release of security interest and the announcement of a 40m share offering at $6.5 that benefited Orion immensely?
https://legacy-assignments.uspto.gov/assignments/assignment-pat-54545-803.pdf
Carbon capture is on the back burner at Exxon actually.
https://www.bloomberg.com/news/features/2020-12-07/exxon-s-xom-carbon-capture-project-stalled-by-covid-19?utm_source=url_link
Pretty straightforward
Original ruling to re-evaluate bids
http://www.dpuc.state.ct.us/dockcurr.nsf/8e6fc37a54110e3e852576190052b64d/96ddd287f6db42a985258622003be07f/$FILE/Revised%20Motion%20Ruling.docx
Motion #55 request for clarification
http://www.dpuc.state.ct.us/dockcurr.nsf/8e6fc37a54110e3e852576190052b64d/985f508d36dcb877852586320050d998/$FILE/12.1.2020%20Motion%20for%20Clarification%2019-07-01.pdf
Ruling to motion for clarification #55
http://www.dpuc.state.ct.us/dockcurr.nsf/8e6fc37a54110e3e852576190052b64d/9f3b280a063af4378525863400531f7b?OpenDocument
All I can do for you!
I posted the docket, the initial reevaluate ruling, the request for clarification, and the ruling on that motion. It’s up to you to read them and make your own decisions.
I only own FCELB so I have no skin In the game at the moment.
I may be back but not at this level. Already cashed in for this year and plan on wait for the AS increase/rs that is sure to come.
http://www.dpuc.state.ct.us/dockcurr.nsf/(Web+Main+View/All+Dockets)?OpenView&StartKey=19-07-01
Very misleading, read the motion for clarification!
Some people only want to look at the sunny side.
True investors (successful ones any way) look at both.
Anyone want to take a guess at the total return to Orion to provide an 80m$ construction loan to FCEL in 14 months?
Just to be clear, the common stockholders financed the entire deal.
Wish someone would loan me $80m and I could oust the repayment on to someone else.
Bishop needs to go, and don’t even get me started as to why. All just my informed opinion.
Docket number is 19-07-01