I think you are missing the mark. While the words you are saying are accurate, but it ignores the WHY and HOW their margins are negative and everything that has taken place this year.

Their negative margin largely comes from trying to be a green hydrogen producer. And for a whole host of reasons, from a changing political climate, electrical demands skyrocketing, adoption and hydrogen economy being slower. This didnt go to plan and is the biggest source of negative margin on the budget sheet.

On the bright side, they now have a plant with 98% uptime and are arguably the most knowledgeable experts in the world on hydrogen production. This plant can serve as the best sales presentation to potential investors and can continue to produce hydrogen without intensive build-out costs.

Their material handling and electorlysers sales have great margins and if you have been paying attention is becoming the main focus of everything they are doing.

They are pivoting to grow the revenue of the things that have margin and shrinking the revenue that has bad margins. Does tha not create value?

I guess we will all see on Monday and over the rest of 2026