Hydrogen-powered truck innovator, Hyzon Motors appears to be in hot water following a failure to announce its financial filings, seeing its stock take a dive, and an interim CEO and President appointed.
On August 4 (2022), Hyzon released a statement confirming it will not issue its Second Financial Filings by the August 15, 2022 deadline, stating its management had been made aware of ‘revenue recognition timing issues in China’ and that it had launched an independent investigation by a board-appointed special committee, working in conjunction with external advisors, to address these and other ‘governance and compliance issues’.
By August 11, 2022, Hyzon’s Class A Common Stock had plummeted on Nasdaq’s Global Select Market (Nasdaq:HYZN).
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