You're completely nuts. I have followed this company for four years as they are in an "adjacent" industry sector and I occasionally see them at trade shows and the like. I even paid a visit to their office once.
You would have to be on opiates to think this is the highest and best use of your money.
These guys show up at marine technology conferences -- lots of academics, lots of really gifted entrepreneurs, lots of amazing businesspeople from larger companies -- honestly looking like the Sopranos (think Little Carmine ).
Things I see going on (partially from having talked to them):
- their FY2018 revenues were $511k, down from $843k a year before. Come on, the company was founded in 1984! It's 35 years old!!!! You have to be kidding me!! I mean, if you add up the salaries of the President ($382k) and CFO ($236k), JUST THOSE TWO PEOPLE are causing a loss. For heaven's sake, OPT lost about $10 million in EACH of 2017 and 2018!!!
- They have no real business plan
- They have antique technology that's not even close to what some of the other wave folks are doing (say, Oscilla or Columbia Power, or the many amazing groups that participated in the DOE Wave Power Prize). It's literally like comparing a 1977 Cadillac Eldorado to a 2019 Bugatti Veyron.
- They do have an incredibly effective broker-dealer that has somehow raised scads of money for them. They've raised over $180 million so far.
- Management is and has always been wildly, wildly, wildly overcompensated. The Chairman was pulling out $1.5 million a year for years before they had the first dime of revenue.
- Point absorber wave devices are, so far at least, an answer in search of a problem. The only real market is for low-powered devices to power up oceanic weather stations. That's a tiny market and there are simply tons of competitors. Grid-scale wave power is complete pipe dream, other than possibly in places like HI, and OPT doesn't compete in that market anyways.
- No one and I mean no one would be interested in acquiring OPT. Just not gonna happen.
- Unfortunately you can't really borrow this stock in order to short it -- if you could do that, it would with 100 percent certainty be a perfect short.
- It's truly amazing that the current market cap is even $5 million. They don't have a single thing of real value, they truly don't.
I personally thing OPTT is 98% a scam.