FCEL has major short-term challenges. FCEL urgently needs to solve its month-to-month cash flow problems by getting its funding sorted out ASAP. I would encourage anyone still holding FCEL common shares to switch into FCELB. FCELB may do OK as it is senior to FCELD and is not affected by further earnings dilution resulting from the sale of FCEL's common stock at prices below book value per share (BVPS).
FCEL sold common shares and warrants in a successful $13.8 million offering in May 2017 at an offering price of $1.28 per share and accompanying warrants.