Replies to post #11215 on FuelCell Energy Inc (FCEL)

[Trading4it]

My guess is part went towards series C PS conversion to completion, part went towards series D PS conversion and part of them were sold to generate cash via the ATM. No matter how you slice it, it still represents >$10M on the credit side of FCEL's books (that apparently wont be disclosed in Q2 numbers)

I'm also a bit hesitant to even say that "part went towards series C conversion to completion".
The last sentence of pg 3 from NT-10Q "partially offset by Series C preferred stock deemed contributions of $1.6 million for the three month period ended April 30, 2019 compared to Series C preferred stock deemed dividends of $4.2 million for the three month period ended April 30, 2018."

I've yet to fully decipher that "deemed contributions of $1.6M" but it certainly implies series C PS are fully converted.

[Trading4it]

Max,
I would sure welcome and appreciate your help in attempting to decipher the "partially offset by Series C preferred stock deemed contributions of $1.6 million for the three month period ended April 30, 2019 compared to Series C preferred stock deemed dividends of $4.2 million for the three month period ended April 30, 2018." statement from pg 3 of NT-10Q.

Link to what I'm reading in attempt to better understand. (scroll to pg 6)
https://www.morse.law/uploads/1495/doc/Tax_Aspects_of_Investor_Financings_-_CAW_Article.pdf