Ballard Power Systems Inc (BLDP)

[uksausage]

so selling $11m shares at $1.60 (c 20% discount) yet:

"In connection with the offering, Ballard disclosed in the prospectus supplement that it anticipates its second quarter 2015 revenue to be in the range of $10.6 to $11.5 million, and gross margins to be lower than the previous quarter. Ballard also disclosed that it estimates that cash reserves will be between $38.0 and $40.0 million at the end of the second quarter."

So only adding 25% to their cash pile to buy companies or stay afloat.

I guess they hope to get some price action soon so they can come to the market again for more cash until they are profitable.

I am assuming this new company is profitable - military applications typically are after your R&D (ie debt) is paid.

An interesting business model but will be being helped by Plug volume of cells