FuelCell Energy Inc (FCEL)

[Trading4it]

The covenant(s) of Hercules loan included A. Unrestricted cash reserves => the combined totals of 1) 75% of outstanding loan amount .. loan amount stood at $25.5M 2) 75% of any Invoiced accounts payable which were beyond net90. This portion of the covenant was to take effect Mar 31, 2019.

FCEL bought some time (30 days) with the recent amendment (see the 8K dated 4/3/2019).

So by the 3rd day following the covenant requirements, FCEL responded and addressed them to Hercules satisfaction. Given that one must assume the covenants were met by April 30, 2019 else we would have seen new SEC filings again on the 3rd of May.