HM HM
a) profitability is currently scheduled in Q3 or 4 2018 NOT this year - why does everyone think they said that - listen to the calls do not make up things.
That was only change because the tax credits were no renewed, before that Marsh predicted profitable 2017.
They missed the end of 2016 forecast no doubt about that but all this year they have been saying 2018 Amazon brought it forward "may be a quarter". that has been their forecast all year
b) the 500m a year is well within sights now check their analysis from 2 years ago (a pyramid diagram), The only missing element is the signing of the China contract which will be for roughly half their businss over the next 3-4 years (13000 + proGen engines and hopefully ProGen stacks as well)
Weren't those prototypes supposed to be delivered March 2017, this is almost July right?
Yes they shipped prototypes for CERTIFICATION by Chinese equivalent of UA Labs. Next phase is 500 for real life testing in Q4-Q1. (Anticipate an announcement in next 6-8 weeks) then full order in mid-late 2018 for shipment in 2019-2022
c) if Workhorse wins the USPS and Amazon delivery vehicle contracts using Progen Engines and stacks then $500m is a low ball number.
Key word IF agree but this is icing
d) The company hasn't stated what they will do with the increase in A/S, IMHO it is an anti -takeover move not a move to raise cash
"Plug Power, the Latham hydrogen fuel cell manufacturer, plans to sell up to $200 million in stock or debt to raise capital for its global expansion." Global expansion truth or excuse?
Global expansion is right - China - Europe may be buying H2 coinmpany in Europe - or even Intelligent Energy in UK?
e) they are raising cash for the current year using an ATM shelf filing not sure where you get those prices from?
20 years raising billions on the backs shareholders (their ATM) how much profit to show for it? That's what being an investor is all about, this isn't a fuel cell supplier it is an integrated power and fuel supply solution for electrical vehicles. A long way from where it was 6 years ago and stock was 0.40
g) I hope they do raise cash they need to establish a JV with the Chinese partners - or finance building a factory there.
If the money goes for that and not to sell fuel cells at a loss to give the appearance for growing while still losing million. Even you have to admit when you lose 57 million dollars you have to get it from somewhere to pay the bills.
Yes they have given a forecast of what cash they nneed -
they have it on their books some of the reserved cash from Walmart should be freed up this year, but they need more for expansion not just operations
h) they are already planning a 3rd shift in Latham and may be Washington State
What does that mean if they are losing money on every fuel cell they sell, only that they will be losing more money. No profit ever remember.
They make 45% profit on every fuel cell sold on standard contracts (not PPA to walmart)./ that is a FACT. They need to do over $100m a quarter to cover the 421 overheads that is why the fail to break even, not because they lose money on each cell sold they dont. $3m profit in Q4 2016 before overheads
Quote:
- suggest you read the transcripts of the business planning and Azamon and Q1 results calls
