r/OceanPower

Looks like it’s worse than they originally reported. What are people’s thoughts, honest mistake, bad accounting, fraud? Some pretty big differences in those numbers- revenue inflated by over 10%, gross loss under reported by 25%. How bad is the accounting to make such large mistakes that makes the company look better than the truth?

Alright everyone, let’s talk about this "strategic review" announcement and why some people are mistakenly assuming management is suddenly going to abandon the reverse stock split vote on September 10. Chances are slim to none that they will drop the split. In fact, this “strategic review” initiative with Bowen, Inc. was likely part of their playbook all along, right alongside the push for an RS.

Whether the SEC gave them a runway extension or not, management still needed to fix their capital structure:

If they stay standalone: They need an RS to maintain compliance on the exchange.

If they are heading toward a buyout or M&A transaction: They need an RS because major corporate buyers, defense partners, or institutional players typically have internal rules preventing them from touching or buying out a sub-$0.25 penny stock.

The reverse split execution method is the tool they want either way. So think twice before you vote.

Do not be fooled into thinking a strategic review replaces the split—they are using them in tandem.

Why you need to vote AGAINST the split:

(Edit: FYI, SEC has given runway until July 2027. No need for the management to execute RS too early)

1. There is no guarantee of a buyout. Management is waving the phrase "strategic review" around like a shiny object, but hiring an investment bank doesn't guarantee a savior is coming. It just means they are looking. If talks fall through or they don't find a buyer, we are left completely exposed with a decimated share count and a brutal reverse split structure.

2. Even if a buyout does happen, there's no guarantee the price will cover your average. Even if they pull off an M&A transaction, there is zero guarantee the buyout price will be high enough for us to recover our capital or reach breakeven. If they negotiate a low-ball or distress buyout, a cleaned-up, post-RS structure just makes it easier for them to sweep a bad deal across the finish line while retail holders take heavy realized losses.

3. There is no guarantee of post-RS recovery in general. Even if we look past M&A, history with micro-caps shows that reverse splits almost always lead to further downward spirals and short-selling pressure, rather than a magical spiking recovery that saves our bags.

While management frames cleaning up the structure as "maximizing value," handing them a blank check for a reverse split right now gives them all the leverage to dilute or squeeze retail before any deal is even finalized. Remember, silence is a vote FOR management because brokers default uninstructed shares right along with the board's recommendation.

If we want to force them to respect retail and actually fight for a real premium instead of using a split to cover their tracks, we can't just sit on our hands and ignore our proxy emails.

Check your broker apps, find your proxy ballots, and vote AGAINST the reverse split. Let's make sure our voices are heard before September 10.

Maybe they don't care about the reverse split at all anymore. ​A strategic partnership with the right company could be very good. When news is released like this it is possible that they're already in discussions with someone..... I'm hoping Anduril.

Quick warning on OPTT proxy votes: Silence is a vote FOR RS, and please don’t do that now!!!

SEC’s delay in implementation of the rule is a great news, yes! But that stays in our favor only as long as we vote AGAINST the split. Giving OPTT management to authorize RS on Sep 10 is a threat to all the retail shareholders like us, never knowing when the company would announce the RS news and the ratio they would go with. Going FOR the RS now is too early, given SEC’s delay in implementation.

A lot of people think that if they just ignore the voting emails, it won't hurt or will count against the reverse split. That is a trap.

Because a reverse split is classified as a "routine matter," brokers (like Robinhood, IBKR, Trading 212, etc.) can legally vote your uninstructed shares for you if you don't take action. And guess what they almost always do? They vote right along with the board's recommendation (FOR the split).

Since retail owns the vast majority of this stock, when people don't pay attention or just ignore it, it plays right into management's hands. If you want to actually buy us time until July 2027 and stop an early split, you can't just sit on your hands. You have to log in and actively vote AGAINST.

Wake up, open your brokerage emails, and take action before the deadline.

If you care about this stock and want to protect your investment, buy the company time to grow organically and stop an early RS. Share this info and help spread the word to other holders before the September 10 deadline— retail has the numbers, but only if people actually vote.

I’ll probably be downvoted for this opinion but am I the only one that doesn’t really care about RS? I just want whatever the company thinks is right to keep them afloat in the long run. I don’t care about perception and I don’t care about short term. If you’re a bag holder and you don’t want a reverse stock split to protect your portfolio, then maybe your head is in the wrong space.

After their last earnings, I sold everything because after waiting for 3 years to see any kind of progress monetarily, I saw no progress at all. If they ain’t making money, then I sure as hell ain’t making money either holding a bag. They use the stock market how a company is supposed to, to keep the company afloat with cash flow. I just talking about investing 101 at this point but still. If a reverse stock split means a difference between being able to function as a company and going broke, then the RS is the way to go.

Great news!!!

Spread the news!

SEC delayed the implementation of minimum 0.25 rule to July 1st,2027. No risk of delisting until then, and No need to Reverse Split until June, 2027. Management has all the time it needs to let the business grow organically.

If you have already voted FOR a reverse split out of fear, check your proxy materials because you can still change your vote.

Please don’t vote to authorize RS too early now.

Your vote to authorize the RS too early would only make OPTT execute the split too early rather organically bringing the price up above 0.30.

If you have already voted FOR the split, you can still make change to your vote.

Let’s give the company room to run on actual defense contracts instead of rushing a split.

"The Proclamation imposes a 100% ad valorem tariff on drones of a certain size or with certain capabilities that are particularly sensitive for national security purposes, docking stations of these drones, and certain critical components of these drones. This drone category includes drones with a maximum takeoff weight of more than 25 kilograms and drones with thermal imaging capabilities."

Is this the dead cat bounce before the reverse split vote? I’m tempted to think that is exactly what it is. Seen it too many times before to ignore it..

why haven't the company updated us on the last buoy being delivered to the Coast Guard? When asked about it on the earnings call they seemed hesitant in awnsering but said it was on time for july. Well we are almost in the middle of August with no update. They did update us on the WAM V delivery which was after the buoy. such bs...

“They’ve been pushing further and further offshore and going a little bit higher into the Los Angeles and Santa Barbara areas.”

That observation from U.S. Coast Guard CAPT Chris Cumberland in a recent NBC San Diego story highlights an important reality in maritime security: as surveillance and interdiction improve, those seeking to evade detection adapt.

The Coast Guard reports that maritime crossings in the San Diego area have declined significantly while capture rates have increased, with Cumberland pointing to additional personnel and new technologies, including drones and remotely operated watercraft, as contributors.

But changing routes and operations farther offshore also expand the area that must be monitored.

That is where persistent, uncrewed maritime systems can play an increasingly important role: extending the sensing horizon, maintaining awareness across large areas, and complementing crewed vessels, aircraft, and other surveillance assets.

As threats move, maritime awareness has to move with them.

At Ocean Power Technologies we are privileged to be working with the U.S. Coast Guard and U.S. Department of Homeland Security along the maritime border to demonstrate the value of these systems.

#MaritimeDomainAwareness #MaritimeSecurity #UncrewedSystems #USCG #Autonomy

https://www.linkedin.com/feed/update/urn:li:activity:7493403447522734080

I urge the community to cast your vote. Absence of your vote will only result in favor of the company, and count for the disastrous RS.

SEC high likely will delay the effectiveness of the proposed rule as NYSE’s Director himself has commented to SEC that they are okay to give companies time till July, 2027.

Now the question becomes, “Does SEC go further beyond Jul, 2027 to give companies like OPTT the time it deserves to scale up their business”. If SEC delays the implementation, that’s a good sign in itself.

If we give OPTT the authority to RS, they may take this opportunity to RS, EVEN IF there is plenty time and there is no risk of delisting due to delayed effectiveness of the rule. Let’s not pave the way for that. Spread the word.

OPTT has enough time to get the stock price back up over 0.30 before that time. However, they may see having the authorization to RS as an opportunity to execute RS because of low-priced high float stock.

Chances of them considering the retail investor and postponing the RS is slim, and therefore I ask the community to do their part, and vote AGAINST the split as voting FOR would only give them power, given that there would not be any risk of delisting for a while.

EDIT: SEC’s Final Verdict on the NYSE’s proposed Rule: Aug 14th.

NYSE Director’s Comment Here