Plug Power Inc (PLUG)

[uksausage]

I know there are many people on iHub whose first language isnt English (or American). Writing it is harder than speaking

My issue is he is only looking at the final lines and not understanding the dynamics of the business they are running. It took me 6 months or more to really understand how the Walmart deal and financing arrangements were being reported and that is why the last 18 months numbers do look at face value that the more they sell the more they lose.

Going forward with Amazon accounting for more and more of the business Walmart PPA will be less influence, the new terms means restricted cash is reduced and available to finance (reducing any dilution pressure), while the monthly fees to Walmart can only go up even on a quiet quarter.

We saw in Q4 what a good quarter in terms of shipments to cash customers can mean to gross margins - we may be getting close to $10m this quarter, but the SGA and R&D are still more.

I have yet to find any explanation for the Q2 SG&A increase and the so called analysts didn't ask a question about that. That an service revenues less than previous year doesn't make sense unless their service charging model is weird.