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Hoghead7

09/13/19 10:22 AM

#15023 RE: M4dsc1 #15021

I fully concur on all of that. I believe the total for NRG and Hercules is down to seven million now, which they currently have no problem if they wanted to pay it. But I believe they are waiting because they expect to complete the Tulare project and go c o d. I also believe something is going on with triangle Street as far as getting a power purchase agreement or selling it but I'm not certain. I believe they want as much cash on hand at the end of Q4 as possible. I think it may have been somebody else but it could have been you the mentioned their hypothesis about generate. I know Generate Capital wanted the exclusive ability to finance everything for them. They may be willing to do that up to the 300 million once an RG and Hercules are completely satisfied. they likely want to have as much cash on hand right now to make sure they can finish all of the projects in queue, primarily Tulare, Campbell's (Bolthouse) and Groton. Seems to me as though those projects may all be completed by the end of October. I feel pretty confident we will get an update by the end of September. A couple of obvious changes are setting short-term goals and getting things accomplished on time, and updating the public in a more timely fashion.

powerbattles

09/13/19 11:09 AM

#15025 RE: M4dsc1 #15021

Agreed! No point lessen the strength of the stock dilution for payoff hercules now. They will pay off in Oct to auto trigger lenders for the $18 million.

M4dsc1

09/13/19 3:58 PM

#15035 RE: M4dsc1 #15021

To clarify the lending gap that FCEL has for Groton...

5th-3rd originally promised $23m towards the project. They pulled back and offered $18m if FCEL can show that they have secured the remaining $5m.

The loan that FCEL needs to be able to secure is an additional $5m not $18m. I re-read my post and saw that people might misunderstand how much additional financing FCEL needs to secure by October for the project.

Also, there is a 60d window within the amendment with 5th-3rd that as long as FCEL is negotiating in good faith before 5th-3rd will terminate the loan. So really it is October 22nd + 60 days. So they have until the end of year to secure the financing as long as Hercules is repaid in October.