DUBLIN - Fusion Fuel Green PLC (NASDAQ:HTOO), an energy services company currently trading at $0.53 with a market capitalization of $9.16 million, has announced that its pro forma stockholders' equity as of January 10, 2025, stands at approximately $12.0 million. According to InvestingPro analysis, the stock shows high price volatility, having declined nearly 46% over the past six months. This figure is in line with the Nasdaq Listing Rule 5550(b)(1), which mandates a minimum stockholders' equity of $2.5 million for continued listing on The Nasdaq Capital Market tier.
The pro forma stockholders' equity reflects the outcomes of several transactions, including the acquisition of Quality Industrial Corp. in November 2024, and a series of financial activities on January 10, 2025. These activities comprise a private placement of senior convertible notes worth $1.28 million and the establishment of a $25 million equity line of credit. InvestingPro data reveals concerning liquidity metrics, with a current ratio of 0.56 indicating short-term obligations exceed liquid assets.
These strategic moves are aimed at securing the company's long-term compliance with Nasdaq's listing requirements. The detailed pro forma balance sheet showing these transactions is available for public review. It was attached to a Report on Form 6-K submitted to the Securities and Exchange Commission on January 13, 2025, and can be accessed on the SEC's website as well as on Fusion Fuel's investor relations page.
Fusion Fuel Green PLC operates through its subsidiaries, Al Shola Gas and BrightHy, to offer a range of energy engineering and advisory services. Al Shola Gas specializes in full-service industrial gas solutions, while BrightHy is dedicated to providing hydrogen solutions that support decarbonization in various industries.
This announcement is based on a press release statement, and it is important to note that forward-looking statements were included. These statements are not guarantees of future performance and are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those projected. For a comprehensive analysis of HTOO's financial health and future prospects, investors can access detailed Pro Research Reports available exclusively on InvestingPro, which covers over 1,400 US stocks with expert insights and actionable intelligence.
In other recent news, Fusion Fuel Green PLC has announced plans to acquire a majority stake in Quality Industrial Corp. This strategic acquisition aims to expand Fusion Fuel's energy engineering business and integrate capabilities in both traditional and clean energy sectors. Fusion Fuel is set to acquire approximately 70% of Quality Industrial Corp by issuing 19.99% of its ordinary shares and convertible preferred shares to QIND sellers.
Quality Industrial Corp, which reported $11 million in revenue and $1.8 million in net income in 2023, is expected to create synergies with Fusion Fuel's hydrogen engineering services. The deal is expected to facilitate Fusion Fuel's extension into the Middle East and Quality Industrial Corp's expansion into European markets.
In other developments, Fusion Fuel's Portuguese subsidiary has filed for insolvency, a move seen by management as an opportunity to recalibrate its business strategy. The company plans to focus on enhancing its hydrogen engineering and advisory offerings, which require low capital expenditure and offer scalability. The closing of the acquisition is subject to various terms and conditions, as detailed in a report on Form 6-K to be filed with the SEC.
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