Ocean Power Technologies (NASDAQOPTT)
Is Ocean Power Technologies Heading in the Right Direction?
Headquartered in Pennington, New Jersey, Ocean Power Technologies is a pioneer of sea wave control era and vitality stockpiling frameworks. Pick’s restrictive PowerBuoy® innovation depends on a practical, versatile, particular, and ecologically solid plan which gives power and correspondences to various markets and applications.
Ocean Power Technologies (NASDAQ:OPTT) has been riding a flood of force exchanging action. Since mid-July, it’s been a great deal of fun. Yet, TheStreetSweeper has spotted brutal waves swelling up coming soon, and we trust OPTT is pitching toward a wipe out.
OPTT started working two decades back and still hasn’t made sense of how to market its arrangement of creating power from sea waves. At first glance, OPTT’s for all intents and purposes non-existent incomes seem to rely on the legislature.
Truly however, stock offerings and obligation have stayed with the above water. It let the big dog eat last quarter however is left with no dedicated wellsprings of value or obligation financing at this moment.
In the mean time, OPTT has made sense of how to draw in a Securities and Exchange Commission examination, and turn into the subject of a legal claim balanced with potential stock weakening for faithful stockholders.
The stock is flying right now, somewhat on the grounds that the market doesn’t comprehend the inconsequentiality of the September 13 declaration. The organization would like to build up a power float with the U.S. Office of Naval Research. The underlying stage won’t be finished until early June 2017. Furthermore, OPTT is just getting ~$250,000 for that stage and may get up to another $500,000 increasingly if it’s finished and Naval Research finds the subsidizing… a ton of uncertainties.
OPTT cases it’s a pioneer in sea wave vitality transformation yet we think the classified witness called it right… this business is absolutely a Greek disaster. The organization is achieving what it has done best: blazing cash and luring financial specialists with another exaggerated declaration that will probably wind up ’til now one all the more dead-in-the-water extend.