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8-K filing: https://www.sec.gov/ix?doc=/Archives/edgar/data/1378140/000149315223020565/form8-k.htm
Item 1.02 Termination of a Material Definitive Agreement.
Effective June 2, 2023, Ocean Power Technologies, Inc. (the “Company”) terminated its At the Market Offering Agreement with A.G.P/Alliance Global Partners (“AGP”) dated November 20, 2020 (the “AGP Agreement”). Under the AGP Agreement, the Company had sold and issued an aggregate of 17,179,883 shares of its common stock with an aggregate market value of $50.0 million at an average price of $2.91 per share and paid AGP a sales commission of approximately $1.6 million related to those shares. There were no penalties associated with the termination.
Agreed my friend. Last 10k was 13 July 2022.
OPTT on a calendar year, 10K yearly should be out second week next month…
$OPTT looks to be doing ok to me. Keep your posts on topic.
I told you Woke = Broke!
OPTT
Ocean Power Technologies Inc
0.5299
0.0099 (1.90%)
Volume: 79,612
Day Range: 0.515 - 0.5299
Last Trade Time: 8:00:00 PM EDT
There's a saying that goes, volume before price, and looks like the volume has been average or above average the last several days so...
What does the volume hit mean?
$OPTT nice little bit of volume hit.
OPTT
Ocean Power Technologies Inc
0.517
0.0236 (4.78%)
Volume: 123,131
Day Range: 0.4902 - 0.52
Last Trade Time: 8:00:00 PM EDT
Great analysis about the perpetual loser opttt. It has mo path towards profitability and trying to lease product that doesn’t sell will not work either. Great short to zero.
Another press release
Will any sales occur from this press release??
doing a "DEAL" with a government agency is not a profitable endeavor. in fact, it can be a bad business deal. don't let US GOVERNMENT deals lead you to believe that it is good for the business.
OPTT management has a proven track record of losing money with no results.
Another press release on top of the hundreds of past press releases
$OPTT
re;
Ocean Power Technologies Announces Deployment of Next Generation Wave Energy Converter Buoy
April 13 2023 - 08:00AM
GlobeNewswire Inc.
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Ocean Power Technologies, Inc. (“OPT” or “the Company”) (NYSE American: OPTT), a leader in innovative, cost-effective, and autonomous low-carbon marine data, power, and consulting service solutions, is pleased to announce the successful first ocean test of its next-generation increased power wave energy converter buoy, the Mass-On-Spring-Wave-Energy-Converter (MOSWEC) prototype. OPT has reported the operational sized buoy, deployed offshore of New Jersey, has been performing as expected and has already endured storm conditions at sea.
Building on the success of its previous wave energy converter, the PB3, the MOSWEC prototype represents a significant improvement in multiple aspects. The innovative design enables modularity and commonality for the next generation buoy platform, making it more efficient in terms of transportation, serviceability, and maintainability. Additionally, the MOSWEC buoy will be more cost-effective for customers.
One of the key advancements of the MOSWEC is its fully sealed design, eliminating all externally moving parts, which further increases reliability and lowers maintenance costs. This innovation ensures that the energy converter operates efficiently and effectively in marine environments and supports all of OPT’s existing solutions, and expected future integration with vehicles, such as OPT’s WAM-V. This opens new possibilities for renewable energy generation, ocean security, and other applications in marine environments.
Furthermore, the MOSWEC prototype allows for the integration of wind and solar energy generation, providing increased and diversified energy output compared to the PB3. This feature, combined with the buoy’s performance in storm conditions, makes the MOSWEC prototype a more versatile and sustainable solution for powering various applications.
“We are thrilled to announce the deployment of our operational size MOSWEC prototype, which represents a significant advancement in wave energy conversion technology,” said Philipp Stratmann, President, and Chief Executive Officer of OPT. “With its smaller size, lower price, sealed design, and increased energy generation capabilities, the MOSWEC prototype is a major step forward in our mission to provide innovative and sustainable marine energy solutions.”
OPT holds multiple patents related to MOSWEC technology, which generates power from the relative motion caused by ocean waves. The Company’s commitment to advancing clean and reliable ocean energy solutions aligns with the nation’s blue economy goals and supports the transition to a more sustainable future.
About Ocean Power Technologies
OPT provides intelligent maritime solutions and services that enable safer, cleaner, and more productive ocean operations for the defense and security, oil and gas, science and research, and offshore wind markets. Our PowerBuoy® platforms provide clean and reliable electric power and real-time data communications for remote maritime and subsea applications. We also provide WAM-V® autonomous surface vessels (ASVs) and marine robotics services through our wholly owned subsidiary Marine Advanced Robotics. We are headquartered in Monroe Township, New Jersey, and have offices in Houston, Texas, and Richmond, California. To learn more, visit www.OceanPowerTechnologies.com.
Forward-Looking Statements
This release may contain forward-looking statements that are within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by certain words or phrases such as "may", "will", "aim", "will likely result", "believe", "expect", "will continue", "anticipate", "estimate", "intend", "plan", "contemplate", "seek to", "future", "objective", "goal", "project", "should", "will pursue" and similar expressions or variations of such expressions. These forward-looking statements reflect the Company's current expectations about its future plans and performance. These forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and subject to risks and uncertainties. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company's most recent Forms 10-Q and 10-K and subsequent filings with the U.S. Securities and Exchange Commission for further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.
Contact Information
Investors: 609-730-0400 x401 or InvestorRelations@oceanpowertech.com
Media: 609-730-0400 x402 or MediaRelations@oceanpowertech.com
Primary Logo
YES WAS $4.00 BACK ah few / Ocean Power Technologies
This company has issued press release after press release after PR announcing some great accomplishment and internal milestone. This goes back to days before Kirby and now to this management team.
yet little to no sales
please don't say $2 million a year is real sales.
the little pizzeria down the block from me does way more, meanwhile, OPt has raised $323 million in capital
stock has continued years upon years of decline
the only true accomplishment the company can brag about is the trading volume and liquidity in the stock because that has allowed the company to raise capital on the backs of unsophisticated retail investors.
maybe the idea of waves producing energy and electricity is a great idea, but it would seem as if OPT has developed the technology but no one is buying it.
maybe this is just a business that needs to be funded by a government to see if there is something of any value because there is no value to open market investors.
the investors that participated in the private placements make money because they get the shares at a discount to market and then SELL those shares on the open market to those unsophisticated retail investors that are buying based on a theory or a philosophy that OPT is doing something good
but the facts are undisputable and its a never ending loss for the company and investors
opinions are for dreamers because the thousands of people that lost money on this stock are real people that have been either sold an idea or a promise, or just made a mistake, but its a fact they lost money on their OPT investment
take whatever you were going to spend on OPT stock and go have yourself a nice meal and when you get rid of your meal (after your morning coffee) consider your excrements worth more than the OPT stock you would have bought. because your meal had value at the time, OPT has never had value
OPTT
Ocean Power Technologies Inc
0.56
0.0225 (4.19%)
Volume: 165,886
Day Range: 0.54 - 0.56
Last Trade Time: 8:00:00 PM EDT
$OPTT, today's PR is important imo because it was supported by the Department of Energy and might be looking at follow on contracts with them. This is from the July PR.
Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine data, power, and consulting service solutions, today announced that the U.S. Department of Energy (DOE) selected the Company for the Phase II development of a next-generation wave energy converter.
"Following our successful completion of the Phase I DOE Award in April 2022, this continued investment by the U.S. government towards novel, innovative, and clean ocean energy technology is critical to achieving our nation’s blue economy goals," said Philipp Stratmann, President and Chief Executive Officer of OPT. “This award from the DOE will be used to expand our Power-as-a-Service and Data-as-a-Service solutions, which will help us to expedite the development of our next generation of wave energy conversion technologies.”
In the DOE’s recently published awards for clean energy Small Business Innovation Research (SBIR) projects, OPT will receive up to $1,097,212 over the next 18-24 months to develop and test a modular and scalable Mass-on-Spring Wave Energy Converter (MOSWEC) PowerBuoy® for reliable powering of autonomous ocean monitoring systems, bringing an entirely new PowerBuoy® into our offering.
OPT holds multiple patents related to MOSWEC technology, which generates power from the relative motion caused by the ocean waves. OPT’s MOSWEC design has a hermetically sealed hull to protect internal components, is about the size of a standard shipping container, and is easily transportable and deployable. In addition, the design is scalable to support a wide range of applications and missions, including Maritime Domain Awareness, autonomous vehicle charging, and subsea power.
Not sure why the company is being quiet and letting us wallow around down here. From the 3rd quarter report there are at least a couple decent pr's that they could have put out instead of telling us in the q and instead of on twitter. If they are trying to save money well a pr is not that expensive.
Examples. Pick a couple that would have told us what they are up to.
Partnered with Task Force 59 of the U.S. Navy on a new project in Bahrain to support the Digital Horizon exercise for use of Unmanned Surface Vehicles. Digital Horizon was completed in January 2023 and is already leading to follow on deployments as noted below.
Awarded a minimum $0.4 million follow-on contract with Task Force 59 in Bahrain to provide WAM-V’s to support the International Maritime Exercise 2023 (IMX23) as a result of the successful demonstrations during Digital Horizon.
Obtained final acceptance for the buoy deployed at Enel Green Power Chile (EGP).
Deployed the first WAM-V 16 leased to Sulmara Subsea, Inc. (Sulmara). In February 2023 we received an order for the lease of a second WAM-V 16 to Sulmara. These are noteworthy as they were the first two WAM-V sales using our leasing model.
A broken clock is right twice a day, lol…
Keep shorting…
As I continue to say, this company will not be able to stop the continuing losses. In fact, the inexperienced CEO has increased losses for 2 years and will deliver over 50 million in losses shortly. Only bet I think is to short it to zero.
The leasing program is a very wise move, provided the initial payment is fairly substantial
The on-hire rate should be around 2-3% of the equipment’s full cost per operating day in a marine environment
Love the technology, but only feasible in remote autonomous applications
Hate the stock, wouldn’t touch it with their current financial performance
I’m a looker, not a buyer …
…for now
spec
$OPTT. The 3 stooges, H, ARCA and OTCBB. Might be sorry.
OPTT
Ocean Power Technologies Inc
0.5934
0.0334 (5.96%)
Volume: 92,621
Day Range: 0.55 - 0.579899
Last Trade Time: 8:00:00 PM EST
Optt is continuing its horrid fate of losing investor money. Revenue this year will be less than 2 million dollars and cash losses over 23 million. Optt will continue your losses. Avoid or short to make money!
Look forward to it, seeing that's about all we do hear from them.
https://www.globenewswire.com/en/news-release/2023/02/13/2607128/9069/en/Ocean-Power-Technologies-to-Report-2023-Third-Quarter-Results-on-March-13-2023.html
MONROE TOWNSHIP, N.J., Feb. 13, 2023 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will report its fiscal 2023 third quarter for the period ended January 31, 2023 results after the market closes on Monday, March 13, 2023.
CONFERENCE CALL AND WEBCAST INFORMATION
A conference call to discuss OPT’s financial results will be held the following morning, Tuesday, March 14, 2023, at 9:00 a.m. Eastern time. Philipp Stratmann, CEO, Bob Powers, CFO, and Joseph Dipietro, Treasurer and Controller, will host the call.
The dial-in numbers for the conference call are 877-407-8291 or 201-689-8345.
Live webcast: Link to 3Q23 Webcast for OPT
Call Replay: Will be available by telephone approximately two hours after the call's completion until June 14, 2023. You may access the replay by dialing 877-660-6853 from the U.S. or 201-612-7415 for international callers and using the Conference ID 1373 6523.
Webcast Replay: The archived webcast will also be available on the OPT investor relations section of its website.
OPTT
Ocean Power Technologies Inc
0.6714
-0.0363 (-5.13%)
Volume: 309,966
Day Range: 0.61 - 0.7077
Last Trade Time: 8:00:00 PM EST
Small gap from yesterday filled and that pulled her back out of the power zone. Onward.
Going to zero? Not today, LOL!!!
0.6398
Up 0.109699 (20.69%)
OPTT
Ocean Power Technologies Inc
0.6398
0.109699 (20.69%)
Volume: 527,804
Day Range: 0.5566 - 0.6625
Last Trade Time: 8:00:00 PM EST
Total Trades: 1,541
glenn dis can explode anytime $optt
OPTT.........................https://stockcharts.com/h-sc/ui?s=OPTT
Agreed, imo could be huge buying opportunities here while some folks could be selling some for tax loss purposes.
I've been on a long vacation but will be buying.
Until it goes back up, again, lol…
Over valued - marching to zero. No product, poor management and a fee taking board adding nothing and avoiding their fiduciary duties.
Scammy! This company spends money on fake news - promotions via paying Water Tower Research. Check out WTR’s website where it says it gets paid for its free reports to anyone registering. Spoiler alert. This is not disclosed by the company or WTR when it puts its articles out. Don’t get scammed. Do your own due diligence. This company will never get sales to enable it to make money with its existing management team and it’s board.
OPTT
Ocean Power Technologies Inc
0.57
0.02 (3.64%)
Volume: 115,259
Day Range: 0.533 - 0.5403
Last Trade Time: 8:00:00 PM EST
Holding a short? It requires putting up $2.50 for each share that’s shorted, so I call bs lol…
Heading to zero at optt. No products that are competitive and can sell. Shareholders lose!
Buy signal is back, lol…
Ocean Power Tech is a loser stock. Look at any chart. In 5 years over 90 percent of value, 10 years 99 percent. No new sellable product. Avoid.
$OPTT taking on a bit of a different complexion today.
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