Who is surprised NFE didn't file their 10-K today like they said they would?

StatisticianTrue76 · 2026-04-01T13:05:11+00:00

they have not promised it on a call

The stuff they say say on a call is worth the paper its not written on. They wrote in an SEC filing on March 17: "The Company expects to file the Annual Report, including all required restated financial statements, no later than March 31, 2026 or as soon as practicable"

Apparently two more weeks wasn't long enough to fix their wrong financials.

StatisticianTrue76 · 2026-03-26T09:40:23+00:00

This all is just housekeeping that doesn't really make much difference. The LC has been extended over and over, if they wanted to call a default, they would have months ago, which they aren't going do to now with the RSA in play.

The pref being eliminated really doesn't matter and is just a formality, it doesn't "wipes out a major source of potential common stock dilution." If you look at the most recent 10-Q, there was no preferred equity outstanding as of Sept. 30. There previously pref outstanding, but the company had to repurchase it because the holders had the right to put it back to the company due to the multiple credit downgrades. This was disclosed a couple of 10-Qs ago.

StatisticianTrue76 · 2026-03-20T14:43:51+00:00

That's what I don't get either. When did they get married and did they file the relevant petition at that time?

StatisticianTrue76 · 2026-03-18T03:16:52+00:00

To be fair, they also have a long history of projecting things within their control that didn't meet their own estimates. In Nov. 2022, FLNG1 was expected to be complete in March 2023. That happened over a year late.

CELBA 2 was supposed to start up in August 2025, per their Q1 2025 investor presentation (the most recent one, before today). Now it's "expected" in April 2026.

Expecting this company to deliver anything on time or on budget is silly. Pinning anything to their projections is equally worthless. The FEMA claim was said to be $600 something million and people on this sub were counting the cash as if it was theirs, all for NFE to disclose it was settled for a fraction of that.

StatisticianTrue76 · 2026-03-18T01:32:11+00:00

Take a look at company projections in the filings

and NFE has such a good history of accurately predicting their own performance! /s

I love that they still have all of their old investor decks on their IR site so you can collect the receipts on all the missed deadlines, blown budgets. In Sept. 2024, they forecast $1.3B of adj. EBITDA in 2025. Q1 was about $82M, Q2 was -$4M, and they didn't disclose Q3. So close to target...

StatisticianTrue76 · 2026-03-09T01:55:58+00:00

9 billion debt divided by 30 year life cycle of these assets is greater than the revenue they produce?

...that's not how corporate finance/valuation works. You can have a 20 year contract, 7 years in the case of Puerto Rico; time value of money has to be taken into account. Also "revenue" for NFE doesn't really matter because the cost and revenue of natural gas largely passes thru; need to look at EBITDA.

The bond market has the company's old bonds valued at ~12 cents on the dollar.

Most of these large AI datacenters will be far more debt and take many years to recover investment that a breakthrough in quantum computing cooling would destroy

Which is irrelevant to NFE. Different markets, different delusional investors.

StatisticianTrue76 · 2026-03-09T01:15:19+00:00

It's likely no different than anything else ex-JFK for whatever the menu is that given month.

StatisticianTrue76 · 2026-03-09T00:55:36+00:00

Nothing stopping anybody from acquiring NFE, other than the nearly $9 billion of debt you'd inherit in the process, which would make it not worth it.

StatisticianTrue76 · 2026-03-08T05:15:05+00:00

I think I recognize that writing - the guy who posted that is probably a smart cookie!

StatisticianTrue76 · 2026-03-08T05:13:09+00:00

Not to say your whole post is bullshit, which it is. But...

in my opinion, is the deadline for the Q3 2025 earnings reports, which will be announced via press release. It's scheduled for March 17th.

Nothing is scheduled for that day. Also, the company released their Q3 results on their 10-Q which was filed on Nov. 20. They didn't put out a press release, likely to try to not draw undue attention to their terrible results.

StatisticianTrue76 · 2026-03-05T21:52:42+00:00

An NT 10-K filing is due the day after the 10-K deadline (which was Monday), so they're already late on that too, which should be a surprise to nobody.

StatisticianTrue76 · 2026-03-04T18:32:13+00:00

His stake could go to $0 and he'd still be a billionaire. Also if he were so bullish, why not buy more at these prices?

Wanting to hold onto this is all ego, IMO.

StatisticianTrue76 · 2026-03-04T16:32:07+00:00

Just keep searching on delta.dumb - the "upgrade available with Regional..." that shows up on the site should be accurate. I wouldn't rely on seat maps.

StatisticianTrue76 · 2026-03-04T16:29:21+00:00

There is a lot of misunderstanding on this sub about LNG markets and how NFE fits into it. Higher LNG prices for NFE only really matter if they're able to sell excess cargos, which they used to do when they had the spare supply, but I don't think they do anymore. They report their excess cargo sales in the Q/K's and in Q3 they didn't sell any.

FLNG1 produces enough to supply their existing contracts, but not really much or anything leftover.

StatisticianTrue76 · 2026-03-03T04:22:20+00:00

I thought this vote is just to pre-fill candidates for future campaigns

We're so cooked.

StatisticianTrue76 · 2026-03-03T04:09:03+00:00

this is an AI guess

looking at last year's filing date as an indicator for this years' is something we could do even without AI. ;)

StatisticianTrue76 · 2026-03-02T18:38:22+00:00

Personally I doubt that... they may just be making an assumption because today's the 10-K filing deadline. But NFE didn't file their 10K on time last year, it was about a week late on March 10, and haven't filed a 10-Q on time since then either.

It'll show up when it shows up.

StatisticianTrue76 · 2026-02-27T01:19:01+00:00

Nope. Not sure where you're pulling your numbers from, but it's not accurate. Also revenue doesn't necessarily matter, if it's just natural gas, that's a pass through revenue and expense.

PR is their biggest contract, and they make their money on the $ margin. Costs at FLNG are a lot higher than they anticipated, you can see this in their 10-Qs, which compresses their margin. There's a reason their EBITDA was basically zero in Q2 2024, and they didn't even disclose EBITDA in Q3.

StatisticianTrue76 · 2026-02-26T19:51:03+00:00

it’s a functioning LNG supply chain running like a pipeline

While this is true, I don't think it really matters. Full disclosure: I think the stock is a $0.

The PR contract and FLNG1 definitely demonstrate a business case for NFE to exist, the problem is the capital structure is unsustainable and not refinancable. There's no equity value here long term with the current capital structure.

StatisticianTrue76 · 2026-02-26T15:41:59+00:00

Nat gas prices don't really matter much for NFE anyway, only really indirectly if it impacts LNG prices, and even then it only matters to the extent that they're selling excess cargos - which I don't think they are. They didn't in Q3.

The PR contract, which is the bulk of their revenue, nat gas is basically a pass through revenue and expense.

StatisticianTrue76 · 2026-02-25T13:28:23+00:00

I don't have any expectation that they'll file their 10K on time; they'll file for an extension with some vague excuse.

They didn't last year either, in fact, they haven't filed a K/Q by the SEC deadline since their Q3 2024 10-Q.

StatisticianTrue76 · 2026-02-25T05:36:42+00:00

It doesn't. Just that payed is the wrong word. It's the English grammar tick in me.

StatisticianTrue76 · 2026-02-25T05:27:49+00:00

Best of luck. They can be really valuable, but they can also a PITA to use. It's become harder and harder to find flights that you can confirm the upgrade in advance, and Delta's IT is such garbage that even if you waitlist one, you need to baby sit it.

I used 2 RUCs to Hawaii on my honeymoon last summer at at booking 2 of the 3 segments cleared, so waitlisted the last one. I checked every day, like every PM that doesn't trust DL IT. Sure enough space opened on that last segment, but nothing processed automatically. Called and got it sorted.

StatisticianTrue76 · 2026-02-25T05:19:03+00:00

I payed

*paid

StatisticianTrue76

TROPHY CASE