Plug Power Doesn’t Bother Correcting Erroneous Filings, Hides $20.5 Million in Liabilities
The fuel cell forklift manufacturer also continues to report negative revenue after sweetening an already generous deal with Amazon.
June 23, 2021
After restating its financials, Plug Power (PLUG), a hydrogen fuel cell manufacturer, belatedly filed its most recent quarterly report. In it, the company revealed it didn’t bother amending the inaccurate 10-Ks and 10-Qs it previously filed:

“Accordingly, investors should not rely upon the Company’s previously released financial statements for these periods and any earnings releases or other communications relating to these periods…”

Rather than ensuring investors have accurate amended annual filings for 2018 and 2019, Plug Power says you should just read the belatedly filed 2020 10-K. Likewise, the company didn’t bother correcting the inaccurate quarterly filings in 2019 and 2020. Instead, Plug Power promises to include restated results for the affected quarters in future quarterly reports.

Investors will have to wait until November— when Plug normally files its report for the quarter ending in September— for restated quarterly results for the final period in question.
Related: LIN, ATG, APD, FLUX, UGI
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