FuelCell Energy Inc (FCEL)

[Trading4it]

Just to further the discussion regarding inventory I thought it worth pointing out something from FCEL 8K dated 5/14.

As security for the Credit Agreement, Liberty Bank and Fifth Third Bank were granted a first priority lien in (i) all assets of DBFC, including DBFC’s cash accounts, fuel cells, and all other personal property, as well as third party contracts including the Energy Purchase Agreement between DBFC and Connecticut Light and Power Company dated July 10, 2009, as amended; (ii) certain newly manufactured fuel cell modules located at 3 Great Pasture Road, Danbury, CT that are intended to be used to replace the Bridgeport Fuel Cell Project’s fuel cell modules as part of routine operation and maintenance; and (iii) FuelCell Finance’s ownership interest in DBFC.

The (ii) is referencing inventory, It's unclear how inter company / division(s) billing is set up but thought it worth mention.

https://www.sec.gov/Archives/edgar/data/886128/000156459019019183/fcel-8k_20190508.htm