2024-06-02 05:33:09 ET
Summary
- Earlier this month, Hyzon Motors or "Hyzon" reported Q1/2024 results, with revenues boosted by final customer acceptances for ten coach buses and one refuse truck in Australia.
- However, the company continues to burn cash at an alarming pace and will require a large amount of additional capital to continue executing its business plan.
- As a result, management was required to include a going concern warning into Hyzon's quarterly report on form 10-Q.
- While the company is looking for strategic investors, a heavily dilutive equity raise or convertible debt offering looks like the most likely outcome at this point.
- Given elevated risk of substantial, near-term dilution, investors should consider selling existing positions and moving on.
Note:
I have covered Hyzon Motors Inc. ( HYZN , HYZNW ) previously, so investors should view this as an update to my earlier articles on the company. ...
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Hyzon Motors: Hyway To Hell