Ocean Power Technologies Inc (OPTT)

[frankvestor8]

How monstrous can that contract be? And that was based on your expectation! The reality is: this co. burned $11 million in FY ending 4/30/2016.

Short of fortune telling, here are the hard facts or reality straight from the company's 10-K filing with SEC:

"Our financial statements have been prepared assuming the Company will continue as a going concern. The Company has experienced substantial and recurring losses from operations, which losses have caused an accumulated deficit of $177.9 million at April 30, 2016. At April 30, 2016, the Company had approximately $6.7 million in cash on hand. The Company generated revenues of only $0.7 million in fiscal 2016, and $4.1 million in fiscal 2015."

"The Company cannot assure you that it will be able to secure additional funding when needed or at all, or, if secured, that such funding would be on favorable terms. These factors raise substantial doubt about the Company’s ability to continue as a going concern."

The challenge for a short position is that the borrow cost is at 100+% (annual). But wait patiently. You might just get a chance to short the stock and have quick profit.

2 week to 1 month of consolidation. And likely a melt down coming. (Late September.)