Plug Power Inc (PLUG)

[Jack_Bolander]

This is what I FEAR !

The Accounting Restatement is taking way too long, and the longer it takes the more worried I become.

This is what I think is happening. The restatement is BAD, not really BAD, but bad enough that Paul Middleton’s head will roll. They already know how BAD, but they want to have Middleton’s successor in place before they make the announcements: 1.) The Restatement; 2.) Middleton “Resigning”; 3.) “Please join me in welcoming, Mr. X, our new CFO”.

PLUG needs to get all of the BAD NEWS out at once.

The delay is that there is no Mr/Ms X, yet. I know the head hunters are looking, but good luck finding a qualified CFO willing to go to Latham, NY.

Until there is a new CFO hired, we won’t get the restatement.

In the meantime, the delay and attendant FEAR are weighing on the share price. JMO