Barry- project financing is not the issue. It’s funding operations through stock issuance that is worth $.22 and they have run out of room to issue which is why a 12-1 reverse split is likely going to happen and then they will issue more shares. That’s likely why they had to let over 100 employees go because they don’t have cash for operations. Do the math on your shares , let’s say you have 12000 today, post spit you will have 1000 and the company outstanding will drop from ~120M to ~10M, then they will continue to issue shares to fund operations like last time. Soon they will be back up to 100m shares issued. If they can’t get another alternative to financing their operations until they are profitable the common shareholder will get hammered.
Also, your ferc doc on triangle is dated March and doesn’t seem to be going to plan so far. If the “most efficient power plant” in the world according to fcel is operational do you think we would have heard the good news?