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Yes I know what these are -thanks. I owned restricted stock, when a company I worked for went public.
What I don't understand is, the decision to dispose of what I believe are options? Maybe these transactions are not important. Just seems like timing of this is odd.
Any idea what this transaction means?
Restricted Stock
Darivative sale
Units $0 6/1/2023 M 124040 (2) (2)
Class A
Common Stock,
par value
$0.0001 per
share
124040 $0 124040 D
Did he sell these to someone else - this transaction does not make sense to me.
Yes I seen this early today. Show a lack of confidence jmo - plus he makes has a decent income from Hyzon Motors. My thoughts why sell shares at all at this price?
We are exactly 10 Cents higher then NKLA. I predict a much wider spread in the future. Two days away for the Q1 Report. I hope for some positive feedback. Maybe more about China and lack of past due revenues.
Seems Canoo assembly plant preparation is ahead of schedule. See Canoo on Facebook or Twitter.
China sales I see 20 vehicles they collected revenues - this would makeup the revenues reported in the 10-K of just over 3 million for the year 2022. But were are the other payments from the other deliveries - seems this may not ever happen?
Jiushuang Joint Ventures
In December 2021, Hyzon China entered into a vehicle sales contract with Jiushuang (Shanghai) New Energy Technology Co., Ltd to deliver 20 FCEVs. As described in Item 8, Note 4. Revenue, these 20 FCEVs were delivered in the third quarter of 2022. Jiushuang (Shanghai) New Energy Technology Co., Ltd. is a parent of both Jiushuang Tiancheng Motors Service Ltd. (“JSTC”) and Jiushuang Suda Logistics Ltd. (“JSSD”), with which the Company partnered to form the Jiushuang JVs (see Item 8, Note 11. Investments in Non-consolidated Affiliates).
Reported Revenue $3,726,000 on 10-K EOY 2022 - not all the this may be China sales, but works out to Per truck ~ $180,000. So looks like this China deal screwed us over. I'm still going through this page by page. We are missing revenues from 76 Truck's from China.
It appears China has been given extended payment terms. This is were the remaining revenue sits for the balance of 76 Trucks delivered. Just over ~$13,000,000 owed.
In China, the Company has granted extended payment terms to customers, which resulted in the Company concluding collection of all of the consideration under the contract is not probable. As a result, the contract existence criteria is not met and revenue is recognized under the Alternative Method of Revenue Recognition, which may not be in the same period that control of the related goods is transferred to the customers.The Company does not include a right of return on its products other than rights related to standard warranty provisions that permit repair or replacement of defective goods.
~
More accurate employee count including Europe from 10-K.
Human Capital
As of December 31, 2022, the Company employed approximately 330 people (full-time equivalents within the U.S., Australia, China, and the Netherlands). We anticipate focused employee growth in the near-term as we prepare for series production of our hydrogen fuel cells and FCEVs. We have also contracted with various independent contractors and other service providers both in the U.S. and other countries where we operate to perform certain functions or services we require to operate. The ability to recruit, retain, develop, protect, and competitively compensate our global workforce are
critical to our success.
Well it was not a pretty read. After selling 96 trucks to China were are the revenues. I thought they would show up at some point. I have to go through the 10-K and Q which is a long read. Another thing spent more on the auditor fees then then receive in income. I hate audit's we go through this every year. I think salaries handed out lately, are excessive for a small company of a 200 employees. As a share holder, is I hope they can turn this company around. The lack of sales of late is a bit disturbing. Let's see what the meeting June 8th has to offer. I hope Parker is ready for some tough questions. Markateer's are only interested in Income, Cost of Income and positive EPS.
Investments in startup companies like Raven, is not something Hyzon should be involved in. They simply do not have the money. Let the big boys make these investments.
So far the:
Engineering department gets a A+
Manufacturing seems be be doing well, but for lack of sales what can they do?
Accounting department gets a C-
Sales department hovering at a D
Management moves from an F to a D+
I will hand out another report card after the 1st Qtr. Meeting .
Seems like the auditors are fine with completing the final 10-K by June 7th, 2023. Not to mention the 2023 first 10-Q quarterly report. Although probably not much excitement should be expected.
After the FBI investigation we may find out!
Most likely.
Conference call June 8th, 2023:
ROCHESTER, N.Y., May 25, 2023 /PRNewswire/ -- Hyzon Motors Inc. (NASDAQ: HYZN) ("Hyzon" or the "Company"), a global supplier of zero-emission heavy-duty fuel cell electric vehicles today announced that Management will host a conference call to discuss its first quarter 2023 earnings results at 8:30AM EDT on Thursday, June 8, 2023.
Thanks for the info.
I'm guessing, some thinks the price is going up, Higher then $1.60 fairly large percentage at a certain point in time. Do you know what the time period is for a warrant? Would you give a quick lesson in warrants? It's weird how the open price has jump so high in a short period not high volume.
Trap for the Friday PUTS. Already climbed on high volume before the close.
Hope we can avoid this. When NKLA goes broke maybe we can rent the building to build trucks.
This guy got swatted like a fly by Icahn.
Finely our well overdue conference call and financial results. Whew that was a long road!
Like when some said there may be a merger with Nickola. Pure rubbish!
At least we can get a good read, if they collected revenue during the last four or five quarters.
Small change fraudster compared to Carl.
I think Hyzon Motors are a few steps ahead, in the fuel cell stack design game.
above 132 kW rated power 3.6 kW/L power density -30 °C cold start capability 20,000h lifetime. This is the rating for most fuel stacks is 3 kW/L (per liter)
Hyzon new 200kW fuel cell stack is 6 kW/L Hyzon Motors 200kW - ready for production 2024.
Bosch 132kW/L Fuel Cell Stack
These guys pick a fight with the wrong guy. I hope Carl Icahn pops the Hindenburg's balloon. These guys need to go out and actually run a company and compete. This is how it's actually don't. Short sellers are cheesy low life's.
This is for fuel cell products I believe.
This also put's us in danger of delisting. Good news NASDAQ excepted extension.
extension excepted
I was wondering if the 10K would be filed in time, but no they are requesting another extension, until end of may 2023. Come on let's get this done.
Pay the damn accountants overtime, if you have too. Nothing like flirting with danger.
There is a share holders meeting in June. Nothing about a conference for the 15th. I doubt there will be. You may see days following, an 8K from Hyzon Motors updating that NASDAQ compliance has been met.
We should not even be here - CEO cut share holders throats. Glad he is leaving
Icahn is the best guy to lead the company, he shown that he cares about the share holders. A lot of companies out there, with presidents and CEO's that only care about the money, that goes into their pockets. Ra Ra for Icahn. That shorter named after a disaster, is named well. All he does is destroy everyday share holder's, causing financial disasters for the little man. If he think he's actually helping, he's not!
These paragraphs seem to paint a different picture. From last 10Q Submitted. Looking forward to seeing 10K filing for Annual Reports, may give a better picture of revenues. But in general things to totally out of control it looks like with customer contracts. I hope Parker Meeks can pull Hyzon out of this rut - from the looks of it, the previous Craig Knight had no clue how to run this operation.
Note 3. Revenue
The Company recognized negligible revenue and $2.9 million in sales of hydrogen fuel cell systems in the United States, sales of FCEVs in China, and retrofit services in Europe for the three and six months ended June 30, 2022, respectively.
The Company did not recognize any revenue for the three and six months ended June 30, 2021. In accordance with ASC 606, the Company is required to evaluate customers’ ability and intent to pay substantially all of the consideration to which the Company is entitled in exchange for the vehicles transferred to the customer, i.e., collectability of contracts with customers. The customer in China, to which the Company delivered 62 FCEVs in 2021, is a special purpose entity established in response to China’s national hydrogen fuel cell vehicle pilot program. While in the Company’s estimation the customer has strong business plans and management teams, in consideration of the customer’s limited operating history and extended payment terms in their contracts, the Company determined the collectability criterion is not met with respect to contract existence under ASC 606, and therefore, an alternative method of revenue recognition has been applied to the arrangement. The $2.5 million of revenue recognized under this arrangement in the six months ended June 30, 2022 is equal to the remaining consideration received after satisfying local government VAT obligations, as such amounts are non-refundable and the Company has transferred control of the 62 FCEVs to which the consideration relates and has stopped transferring goods or services to the customer. The Company will continue to monitor the customer and evaluate the collectability
criterion as of each reporting period. The total cost of FCEVs delivered to the customer in China was recorded within Cost of revenue in the Consolidated Statements of Operations and
Comprehensive Income (Loss) in 2021 since control of such FCEVs was transferred to the customer prior to December 31, 2021.
Contract Balances
Contract liabilities relate to the advance consideration invoiced or received from customers for products and services prior to satisfying a performance obligation or in excess of amounts allocated to a previously satisfied performance obligation. The current portion of contract liabilities is recorded within Contract liabilities in the Consolidated Balance Sheets and totaled $2.1 million and $10.9 million as of June 30, 2022 and December 31, 2021, respectively. The long-term portion of contract liabilities is recorded within Other liabilities in the Consolidated Balance Sheets and totaled $6.0 million and $1.0 million as of June 30, 2022 and December 31, 2021, respectively. As part of efforts to exit certain customer contracts, the Company refunded $1.3 million to customers in the third and fourth quarters of 2022.
Remaining Performance Obligations.
The transaction price associated with remaining performance obligations for commercial vehicles and other contracts with customers was $15.4 million as of June 30, 2022. The Company expects to recognize approximately 5% of its remaining performance obligations as revenue over the twelve months after June 30, 2022.
Yes Hyzon is an innovator in fuel cell design - good job Hyzon Motors engineering/research department.. This why Hyzon Motors will excel in the hydrogen truck market.
As long as Parker Meeks can turn this round. Manufacturing is a tough business.
Spending wisely is very important.
Looks like the income statement did generate numbers that I would expect:
The Company incurred net losses of $35.7 million and $5.7 million for the three and nine months ended September 30, 2022, respectively. The Company generated net income of $33.8 million and $15.7 million for the three and nine months ended September 30, 2021, respectively. Accumulated deficit amounted to $15.7 million and $26.4 million as of September 30, 2022 and December 31, 2021, respectively. Net cash used in operating activities was $116.2 million and
$52.2 million for the nine months ended September 30, 2022 and 2021, respectively.
I don't under stand the lack of income through out 2022, to Sept 30,2022. I have to delve deeper.
Hopefully we get a better picture of operations, during the stockholders meeting June 26, 2023.
From what I read, looks like Bosch has plans to build a factory in the U.S. South Carolina. Invest about 200 million.
Seems Bosch may not be a supplier or this agreement is coming to and end. I see this page for Bosch announcement was removed from Nikola website ?
I did find that G.M. will provide fuel cells to Nikola for their trucks. It seems thy are an active supplier?
.
G.M. still intends to supply hydrogen fuel cells to Nikola for use in the heavy-duty trucks the start-up is developing, but has yet to mass produce. But G.M. will no longer make an electric pickup truck for Nikola or take an 11 percent stake in the company — once valued at $2 billion,.Oct 6, 2021. So who is actually providing the hydrogen stacks?
We do know Hyzon Motors manufacture their own fuel cell stacks and have done years of research. A big plus, since they have the have a very compact fuel cell stack.
Yea it will be some time before hydrogen hubs are built and distribution. But we will get there.
Hyzon Motors will come through a rough patch. They have until May 15, 2023, they have new COO/CEO and should see complete revs for the past year 2022 and 10K-Q for 2023.
Applicants are vying for a share of $7 billion in federal funds to develop hydrogen hubs that will be selected in summer 2023.
Hydrogen Hubs Status
I don't think Bosch is a hydrogen supplier? So I don't think at Nikola has an alternate provider for hydrogen other then Plug Power.. At least until the U.S. Gov jump starts the hydrogen industry. Not sure how far off they are. I hope Hydrogen Hub construction begins over the next two years.
Hyzon Motors, also in the same boat but there plan is fueling at the main trucking hubs. Rather than refueling on the road. So far California is about the only state with a number of hydrogen fueling stations.