FuelCell Energy Inc (FCEL)

[Hoghead7]

Actually, we did not terminate our agreement with Posco, prior to the sale to KOSPO. Posco had stopped producing fuel cells and agreed to give us permission to sell directly into the South Korean market. We didn't terminate the agreement until after that project was complete. Posco retaliated to our termination by filing I believe 10 lawsuits. They also froze our Revenue in South Korea which is mounting to millions of dollars right now. We've won one case already which bodes very well for the future cases. The wording in the first win indicated the courts were not happy with what Posco motives were perceived to be, which was basically ingenuine and trying to overwhelm FuelCell Energy. Long before that, it seemed obvious to me and several others in conversation, FCE has proof and a valid open and shut case with our lawsuit. Posco is going to have an awful tough time proving any of their allegations. They made changes to our fuel cells, and not by our recommendation. That's why their fuel cells were running 2.5 megawatts.