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Alias Born | 08/03/2015 |
Thursday, April 08, 2021 12:16:23 PM
In my opinion, it's not a matter of overriding the accounting firms stance. Either the CFO and the Company's accounting firm have been discussing this issue for some time, and made decisions along the way which they now view they need to change and correct, or they are having this discussion on these relevant accounting issues now for the first time with this 10K mess, and they're scrambling to change course.
Either way, in my view, change is required as a result if this is how it played out. Also, the Investor Relations function is typically a role scoped within the CFO's realm, and PLUG's IR efforts have been horrible in my view, culminating in their "Gong Show" scene of the equity raise being announced after the 4pm trading bell the same day they had they're "Business Update" early that morning and where no mention of such equity raise was presented. I've consistently stated my displeasure in how the entire episode played out, and the stock has done nothing but sink through the floor ever since.
There are multiple other items we could scratch at to demonstrate PLUG's need for next level varsity athletes on its team in key functional areas, and I'm a big fan of what Andy has accomplished with getting PLUG to this point. But PLUG is entering the major leagues with it's rapidly increasing business scale, commercial scope and balance sheet, and I believe a thorough assessment of PLUG's internal functional teams is necessary to ensure they are up for the task.
For the record, I remain hugely bullish on PLUG looking long term.
GLTALs
Recent PLUG News
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 08:31:01 PM
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