Nice to have good news now I am #nolongeramillionaire.
Reading the PR about the 10K you have to ask why the regulations f opr gAAP are written so top rated audit forms can have different views on what counts as R&D and what is cost of sale.
You would think it has to be clear but this is the third (at least) time that PLUG have had issues with how they have categorized income or expenditure.
Is it really down to individuals at KPMG having different views?
Would love to know the details of what wasn't R&D and is now cost of sale - was it research done under a grant but not as prime contractor? So revenue wasn't from the govt and on y the direct staff costs associate with the "pilot" or whatever got billed as cost of sale and not the core research time and materials?
anyway - shame I didnt close out yesterday to buy back in today - 20% is far too much a hair cut for a company that is moving forward and growing rapidly and the issue doesn't affect business numbers going forward. Todays PR is great and I hope there are couple more in the coming days.
I hope Paul can sell his house .....
I do think the board should be looking to relocate the HQ even if it is just down the interstate to New York (although Atlanta or Dallas might be better). No need to move many staff.
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