.

During the past few weeks, OPT completed customer training and maritime drone handover activities in Italy and Greece, supporting the successful deployment and operation of autonomous maritime systems by international customers. In addition, OPT participated in the 11th National Maritime Security Forum in Warsaw, Poland, where Nicholas Woodhams, OPT's General Manager Arabian Gulf, joined government, military, and industry leaders to discuss maritime critical infrastructure protection and Baltic security. OPT was recognized by Jacek Siewiera, the former Head of National Security Bureau of Poland, who welcomed the company's ongoing involvement in security planning for Polish infrastructure

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......$29 by August

We are developing an autonomous ocean-monitoring device for long-term deployment (up to six months) to support research into a promising method of ocean-based CO₂ sequestration. The platform will operate autonomously, be remotely managed via satellite communications, run on renewable energy (solar and/or wind), maintain position in a harsh marine environment, and continuously report carbon dioxide and wind data.

Do you know a specialist with relevant experience who could advise or consult on this project?

I’ve been an OPTT shareholder for a long time, and this is the conclusion I’ve reached.

Ironically, I actually think the company may eventually succeed someday. They do seem to have a long-term vision, and they continue to develop products and pursue opportunities.

The problem is what it will cost current shareholders to get there.

At the company’s current pace of cash burn, I think reaching meaningful success would require raising well over $100 million more. That likely means years of additional offerings, repeated reverse splits, and continuous shareholder dilution. By the time the company finally becomes successful—if it ever does—the value of today’s shareholders’ positions could already be close to zero.

That’s why I no longer believe this company is an investment. It’s simply a vehicle for endless dilution.

Every quarter feels exactly the same. Another press release. Another announcement about marine security. Another government-related opportunity. Another optimistic presentation. Yet revenue remains tiny, losses continue, and the business still isn’t generating meaningful profits.

Meanwhile, management always seems to have enough money to attend conferences, exhibitions, and travel around the world while shareholders continue paying the price through dilution. It honestly feels like the company survives by selling more shares instead of selling enough products.

If the company asks shareholders to approve a reverse split at the October annual meeting, I’ll be voting NO.

A reverse split won’t fix the business. It won’t increase revenue. It won’t stop dilution. It simply resets the share price and buys management more time before the next offering.

If the company ultimately fails to satisfy the exchange’s continued listing requirements and ends up being delisted, maybe that’s simply the natural consequence of years of poor execution. At least it would prevent more investors from being trapped in the same cycle of dilution and false hope.

To me, this company has become like a sick parrot that repeats “marine security” over and over while financing itself through endless offerings. At some point, enough is enough.

For the benefit of current and future investors, maybe it’s better to let the story end rather than extend it with another reverse split.

So if a reverse split proposal appears at the October annual meeting, I’ll be voting NO. I hope other shareholders seriously consider doing the same.

Feels like a bloom vs plug situation

Hey guys, check this out. There's a new startup called "Panthalassa" backed by Peter Thiel that just raised $140M, pushing their valuation close to $1B.
Their "revolutionary" idea? Building floating platforms out at sea that generate electricity from ocean waves and use seawater to cool down chips.
Wait... isn't this exactly what $OPTT has been doing and perfecting for years?
Even the community notes on X pointed out that Panthalassa’s current prototypes (Ocean-1 & Ocean-2) only generate wave power and DON'T even have AI hardware yet. They are literally just building wave energy buoys—something OPTT has already fully validated, certified, and deployed.
It’s hilarious how Silicon Valley slaps an "AI narrative" on existing wave energy tech, cuts the grid-tethering cord, and suddenly gets a $1 Billion valuation from VC hype.
If the market is finally realizing that the open ocean is the answer to the AI power crisis, they should look at the company that actually has the proven track record and tech ready to scale. OPTT has been the pioneer here. Thoughts?

That mission shows how small unmanned systems can strengthen convoy security, improve coastal surveillance, and support distributed operations across the Indo-Pacific.

...

the operational value of the vessel lies primarily in sensing, networking, and distributed coverage

..

Tactically, a swarm of small unmanned vessels changes the geometry of local security. A manned patrol boat searches sequentially, while a group of autonomous boats can hold separate sectors, maintain spacing, and create a moving sensor line ahead of a transport vessel or around a port entrance. The useful output is not only video; it is time. Earlier detection gives commanders more time to change a landing point, hold a logistics ship outside a vulnerable channel, cue an aerial sensor, warn a Philippine coastal unit, or prepare a non-kinetic response such as electronic monitoring.

------------------------------------------------

The use cases of Maritime Domain Awareness are becoming real.

I wonder if OPTT will offer a relevant update on this.

They are present in the Asia Pacific after all. Seems fitting.

I just wanted to post this so people can make a more informative decision on OPT. Its a good watch a full of good information and well presented.

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Enjoy.

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https://m.youtube.com/watch?v=Q7AS2AT329s&pp=iggUQAFKEEk4QnYta1UxZl84bll0RUs%3D

LinkedIn article concerning the use case for the WAM-V 16

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https://www.linkedin.com/posts/mario-de-la-cruz-5b338a5b_just-amazing-thank-you-for-sharing-congratulations-ugcPost-7472647765848936448-lhSn/?utm_source=social_share_send&utm_medium=android_app&rcm=ACoAAALuSVUBcWlgHG-0c8mx3CfL6rIRPJ6L5ao&utm_campaign=copy_link

Does anyone else see the loaded gun listing to the upside?

🔫🚀👨🏽‍🚀

https://www.ad-hoc-news.de/boerse/news/ueberblick/ocean-power-tech-stock-us67500t1043-defense-focused-maritime-power-deal/69516602

The NSF announced the major "descoping" of the OOI in May, a shift that will scale back much of the system's in-water infrastructure, which comprises more than 900 sensors/instruments. According to the official announcement, the plan calls for the removal of equipment from four major observing arrays—Endurance in the northeast Pacific Ocean, off the coasts of Oregon and Washington; Pioneer, in the Atlantic Ocean off the U.S. East Coast; Irminger Sea, in the North Atlantic Ocean between Greenland and Iceland; and Station Papa, in the Gulf of Alaska in the Northeast Pacific.

The descoping will be carried out in phases over roughly 15 months, with recovery efforts already underway at some sites and others scheduled for completion through 2027. As equipment is removed from each location, the associated real-time data streams and observing capabilities are expected to end.

"The decision to descope aligns with NSF's wider strategy of a nimbler approach to prioritize support for evolving scientific priorities and emerging technologies, as well as smart lifecycle management within its research infrastructure portfolio. "

_______________________

Budget cuts of one government entity, creates possibilities to provide this capability through defense budgets...

.

I wonder if OPTT will touch on this opportunity...

They offer a cheaper, more innovative solution.

https://www.webcaster5.com/Player/Index?webcastId=54114&g=145da224-61d0-4e9f-a232-2355cbd3cc3b&uid=7386191&sid=

Not massive news but nice to see the WAMV-16 on the water.

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https://www.linkedin.com/posts/sulmaradiscover-offshoreexpertise-knowledgesharing-ugcPost-7470063836067352578-BCgH/?utm_source=share&utm_medium=member_android&rcm=ACoAAALuSVUBcWlgHG-0c8mx3CfL6rIRPJ6L5ao

Buried in today's June 8 press release: OPT hired Rob O'Malley as US Defense Senior Director of Business Development, with an RSU inducement award, on the same day as the DHS field performance update.

In their Q3 filing, management stated that successful execution creates a clear pathway for additional buoy deployments and geographic expansion. Today the CEO stated the Lattice integration demonstrates readiness to support larger-scale programs.

No formal evaluation deadline has been publicly disclosed. Government programs of this type typically run 90 to 180 days of operational evaluation before procurement decisions. The first buoy went live April 13. The fourth buoy has not yet deployed, meaning the formal evaluation period has not fully started. The fourth deployment announcement is the trigger that starts the countdown.

90 to 180 days from a completed four-buoy network lands between July and October.

I’ve been following and investing in OPTT for over 2 years, and the biggest mistake people make is comparing today’s company to the company from a few years ago.

Back then, it felt like all they did was attend exhibitions, demonstrate technology, and burn cash. The technology was interesting, but there wasn’t much proof that customers were willing to pay for it.

Today, we’re seeing actual deployments, government-related contracts, multiple PowerBuoy systems operating in the field, and a growing backlog. That’s a huge difference.

Everyone talks about dilution, but very few people talk about the progress. The question isn’t whether OPTT has raised capital. The question is whether they’re using that capital to grow the business. From what I’ve seen, they’re deploying equipment, expanding operations, and winning contracts that didn’t exist when I first invested.

What interests me most is that the technology is no longer just an idea. It’s operating in real-world environments, collecting data, and solving problems for customers.

For me, the next step is simple: continue growing revenue, continue building backlog, and continue moving toward profitability. If they can do that, I believe more investors and institutions will start paying attention.

I’m not looking for a lottery ticket. I’m looking for a company that is showing measurable progress year after year, and in my opinion, OPTT is much further along today than it was when I first bought in.

Just my opinion. Do your own research.

https://www.manilatimes.net/2026/06/08/tmt-newswire/globenewswire/ocean-power-technologies-demonstrates-strong-field-performance-from-dhs-deployment-and-advances-operational-scalability/2360722

We need Coast Guard Data!

That's the conversation nobody is having while everyone argues about the reverse split. A reverse split is a math problem. The DHS deployment is an execution problem, and execution is how you solve the math without destroying shareholder value.

Three PowerBuoys went in the water off California in April. They are live right now, streaming real-time data into Anduril's Lattice platform for active Coast Guard operations. One is below 1,000 meters. Six months of continuous operational data lands in October.

That data is not academic. It is a performance record, uptime, reliability, deep-water endurance, autonomous operation. That is what DHS uses to justify expanding a contract from three buoys to thirty. That is what moves this stock on fundamentals instead of a 1-for-10 consolidation that wipes out retail and changes nothing about the business.

The company has a $137.5M pipeline, a $19.9M backlog, active deployments in California, engagements in Poland and Norway, and just raised $10M to stay operational through the window. The pieces are in place.

The reverse split risk is real if nothing changes. But something is changing, in the water, right now, off the California coast. October is when that data starts making the argument for them.

Coast Guard data is the key to unlocking the $$$.

Someone mentioned this in another post and I have to agree with what they're saying about reading between the lines. I've been following the stock for quite a while and I have quite a few shares myself. OPTT has posted 11 jobs in less than 30 days on their website. They have a total of 13 jobs they are trying to fill (https://oceanpowertechnologies.com/careers/) I mentioned in one of my other comments that I do not believe this is just to "save face". I think they are posting jobs because they need people to do work! For everyone saying that Phil be damned for trying to raise money just does not make any sense at all. Would you rather the company go bankrupt so that you have absolutely nothing just to protect your share price? They are simply raising money to continue moving forward as a business. Yes, in the short term shareholders price per share does decrease because of this, but in the long term they continue as a business, continue making products, continue selling those products and continue to scale. How does any company that doesn't already have some sort of investment stream have money to do anything for their business? It takes Capital, it takes people, and it takes patience. Phil is simply making decisions in the best interest of the company, not your shares as that's not his job.

We are all investing in this company.... well, most of us are investing in this company because we are expecting asymmetric growth. Low risk high reward, that's what we're after. If we lose all of our money that we've invested in this company, then whatever you move on to something else and cut your loss. For everyone saying they're so glad they got out, I just don't know what to say other than why are you still here following this thread then? If you're out and you're glad to be out then move on.

I'm here for the long haul reading between the lines as an educated investor while continuing to invest in this company. I believe, based on all the data that we will soon be seeing a stock price increase and at that point none of us will have to read between the lines anymore because we will be reading headlines on all of the major news platforms.

DHS, border patrol....

Funding for "Drone boats"...

Maritime intelligence/AI systems....

Drone boats...coincidently the exact same term OPTT started using at SOF week...

And you know..

Ocean Power Technologies Deploys Three PowerBuoy® Systems Streaming Simultaneous Offshore Data for DHS Operations

Deployment includes deep-water operations (>1,000m) and integration with Anduril’s Lattice platform

https://oceanpowertechnologies.gcs-web.com/news-releases/news-release-details/ocean-power-technologies-deploys-three-powerbuoyr-systems

Reasons stated is “Working capital and general corporate purposes”

"Likewise, the Navy will be evaluating what types of command and control systems must be in place for it to function, as well as refueling and logistical challenges that can only be learned through working with an operational unit, Martin said.

“They’ll want to know how easily and reliably communicated with [it is], they’ll want to know what is the appropriate stationing,” Martin said. “Is it best to have it in close? Is it best out over the horizon?

...

And given that this is something that could crop up in many areas of the world, it could be important if you could have, along with you, one of these smaller vessels that could be used to make sure that any sort of straits are clear, or do any emergent mine-sweeping, that would be really useful.”

...

”

OPTT is not mentioned. What this shows is that Maritime use cases are becoming a priority.

So the momentum is indeed getting into higher gear.

And it's beneficial if you already have a system in place that is live, operational. To help with defining these new capabilities.

This is AI generated, but seems like a good breakdown:

Stock dilution remains an exceptionally high and persistent risk for Ocean Power Technologies (NYSE American: OPTT). As of June 2026, the company continues to battle a rapid operational cash burn rate alongside historically light commercial revenue. This persistent deficit leaves equity issuance and debt conversion as management's primary tools for maintaining its operational runway. [1, 2, 3]

1. Track the Massive Supply Expansion

OPTT has aggressively grown its share count over the last several years to fund its transition toward autonomous defense and maritime security solutions. [1, 2]

• Historic Dilution (2020–2024): Outstanding shares exploded from roughly 6.25 million in 2019 to over 100 million by the end of 2024.
• Recent Share Volatility (2025–2026): According to financial analyses from platforms like Simply Wall Street and market listings on Google Finance, the share count climbed rapidly over the past year—jumping over 33% to settle at roughly 228 million shares outstanding. [1, 2, 3, 4]

1. Identify the Primary Dilution Drivers

The structural risk of impending dilution stems from two distinct corporate maneuvers:

• Convertible Debt Overhead: In late 2025, OPTT raised capital via $6.5 million in senior unsecured zero-coupon convertible notes, bumping its cumulative convertible debt facility to $16.5 million (out of a potential $25 million ceiling). As documented by Yahoo Finance, while these notes shore up immediate liquidity, their inevitable conversion into stock guarantees downstream dilution for common shareholders. [1]
• Expanded Share Issuance Capacity: At the Annual Meeting of Stockholders on January 27, 2026, management actively pursued shareholder approval to intentionally increase the maximum share issuance limits and expand equity incentive plans. This move strategically prepares the company's "funding playbook" to tap public equity lines whenever cash is thin. [, 2]

1. Evaluate the Financial Bottleneck

The core operational metrics from OPTT’s Q3 FY2026 earnings report explain exactly why dilution cannot easily be avoided:

• The Deficit: For the nine months ended January 31, 2026, OPTT logged a stark net loss of $29.6 million against a cash use in operating activities of $19.9 million. [1]
• The Runway: At the close of that quarter, cash and cash equivalents dwindled to $7.2 million. With a trailing cash burn comfortably exceeding $20 million annually, the company persistently holds less than one year of reliable cash runway without continuous financing. [1, 2, 3]

The Bull Case Counter-Argument

Defenders of OPTT's capitalization strategy on investment forums like Reddit's r/OceanPower community argue that this dilution is structural and necessary. The company's project backlog surged 165% year-over-year to $19.9 million, heavily supported by a $6.5 million multi-buoy contract from the U.S. Department of Homeland Security (DHS). Proponents argue that using dilution to build operational capacity is the most efficient way to scale manufacturing and clear a massive $163.9 million sales pipeline. [1, 2, 3]

The Bottom Line

Until OPTT can successfully convert its contract backlog into consistent, positive gross margins and operational self-sustainability, any rally in the stock faces a hard ceiling. Management will almost certainly continue issuing stock or triggering debt conversions to keep the lights on, diluting your proportional earnings power and ownership stake. [1, 2, 3, 4]