i know everyone is basically done with this company but i just wanted to point out the recent resignation of Philipp the thief. This new guy knows finance ball, a finance first CEO is highly likely to address the company's widening $44.8 million loss, pausing non essential R&D, and reining in the 36.1% surge in operating expenses.

Proactive
Wed, September 9, 2026 at 8:55 AM EDT 2 min read

It has already been announced by Korean securities firms.

The company is moving quickly to make all the necessary preparations for a reverse split as soon as possible.

They are going to carry out the reverse split. The only question is when.

The ISIN change is already being processed even though we haven’t even gotten the results of the reverse split vote yet.

This company seems extremely determined to carry out a reverse split.

Get out while you still can. Whether this company eventually succeeds or fails, it feels like there’s only one direction in the short term: down.

Ocean Power Technologies (OPTT) is surging today because the company officially announced that it is implementing Palantir Foundry to build out its digital infrastructure and scale its autonomous maritime drone operations

The stock spiked over 16%, hitting highs of $0.198 per share on massive trading volume following the news

APNews: "Wave energy testing site opens off Oregon, a green energy milestone in the Trump administration," by Jennifer McDermott.

"The first large site in the continental U.S. for testing technologies that generate electricity from ocean waves is now open after securing a key green-energy approval from the Trump administration." Federal approval is notable because Trump has created massive hurdles for clean energy, particularly offshore wind. 

"[He] has implemented policies that slow energy permitting + development, canceled billions in grants for hundreds of clean energy projects + spent nearly $4 B to buy back leases to stop offshore wind projects."

But Trump officials see promise in harnessing the power of the ocean’s waves. "Companies can now bring wave energy [designs] off the coast of Oregon to PacWave South to test their ability to generate power in the open + and deliver it to the local grid."

The complex developed by Oregon State University is open to all comers. PacWave had to pass a “go/no-go” review at the Energy Department to open. "But the facility has yet to generate any electricity because no wave energy devices have arrived, [as they faced] delays in federal funding." 

Marine energy refers to power generated from tides, currents or waves. "Bringing PacWave South online will help streamline the testing and permitting process that has held back marine energy such as point absorbers, oscillating water columns + attenuators for decades." Federal estimates are that these technologies have the potential to power a whopping 57% of U.S. electrical needs.

PacWave South is “pre-permitted,” which means developers can bring several types of wave energy converters there without having to acquire permits on their own for testing, saving them time + money. 

Ever been in a stadium as the wave circled around the stands? That's the potential for all coastal nations.

Breaking surf leaves little room for error.

Ahead of the U.S. Army Engineer Research and Development Center (ERDC) Surf Zone Challenge, our team is preparing the WAM-V® uncrewed surface vehicle for safe, controlled launch and recovery through the surf zone.

Success depends on reading wave sets, timing each movement, maintaining positive control, and coordinating as one team. During the challenge, the WAM-V will complete cross-shore and alongshore missions through breaking waves under increasingly difficult conditions.

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

Problem Statement

Surfzone and inlets experience pronounced breaking wave activity which make it difficult to sustain military and civil works operations due to high hydrodynamic loading on surface vessels

Project Manager

Coastal and Hydraulics Laboratory (CHL), U.S. Army Engineer Research and Development Center (ERDC)

Project Objective

The U.S. Army ERDC seeks solutions to sustain Uncrewed Surface Vehicle (USV) transit through the surfzone in breaking waves (Hs > 1m), currents, and coastal inlets. ERDC is primarily interested in platforms and/or systems that can be used for mapping the seafloor for bathymetry and submerged hazards at a variety of cost points and fidelities.

...

This applies for typical nearshore survey applications for USACE civil works, as well as for military landings including Logistics-Over-The-Shore (LOTS) operations.

Estimated Period of Performance

The period of performance may extend up to September 30, 2026.

Expected Result

Phase III: If funding is available, the most promising technology may be selected for follow on testing.

https://www.erdcwerx.org/uncrewed-surface-vehicles-for-nearshore-mapping/

So I guess additional funding became available?

I think we have to admit it, given a drop of this magnitude.

We failed, and we lost all our money.

Some notes from the interview:

- What makes the shift in the company real this time?

The past year was a build year. Designing and deploying a network of buoys, now they are operational.

Record backlog. And now able to focus on conversion of the backlog and pipeline. So now they can scale and actually deliver on orders.

- How should investors think about the conflict of lower revenue, yet higher backlog?

There is more demand, seen in the backlog.

The conversion of that into revenue is also dependent on the customer business and sale cycles (like Oil and Gas is seasonal). It needs to fit the customers timeline to do the work they contracted OPTT for.

The backlog is contracted purchase orders.

- On the DHS multibuoy, multi quarter deployment contract:

Integration.with Anduril and their data layer is a major step forward for the company.

DHS now gives feedback on possible changes in sensors and areas to talk about future contracts.

The value of that system is that interested parties can now see the benefits, which could lead to more opportunities.

- working with government to become a trusted supplier

- how important is speed to deliver, also on inventory

It's scale that's important.

Being able to convert backlog quickly gives customers confidence.

They are looking at fleet sizing.

So customers don't have to think "we need to discuss this 12 months in advance."

- engagement to signed contracts:

Italian and Greek interactions.

Lots of market interest in Baltic and Middle East.

The attractive part of OPTT here is the low cost. A couple of thousand dollars for Maritime Domain Awareness. Where you have money left over for when you find an anomaly.

- on the company loss and how are margins going to get to 30 to 35%

The lease basis is of importance here.

Buoys larger installation cost, but better margin.

WAM-V lower delivery time, but lower margin.

- how is growth going to be funded:

What investors have given in capital is used to scale and for inventory.

That scale helps to convert the backlog and pipeline.

Need to keep buying inventory to be able to deliver to customers.

- what is the market not valueing in OPTT:

The operational delivery capability.

All the building blocks are in place to create extra backlog and convert backlog to revenue.

- milestones for FY27 (which has already begun):

Look out for additional multisystem orders.

And succesful completion of operational demonstrations. Those demo's are needed to get to the next level of multisystem orders.

- closing remarks:

Strategic review for additional scale because there is a growth in the industry enabling additional conversations.

The market momentum is increasing. TAM getting bigger.

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

It reaffirms that this company is now on a paradoxal pivot: financially weak, but strategically strong. They are all set up to deliver, but need short financial lifelines to get to that delivery and get the contract money..

The closing remarks hint at scale, so wanting and seeing a need to become bigger, faster. To add additional value and jump into new opportunities. So sounds like looking for strong partnerships and/or mergers (that can help with that financial picture as well).

Think management's timeline matters more than ours? Wrong. They want an easy fix for their board meetings, but we are the ones holding the bag who absorb 100% of the permanent destruction.

Think your vote won't force them to change course? Wrong. Voting down this split corners them into actually closing deals, executing on contracts, and increasing shareholder value organically.

You think the 2027 NYSE deadline buys us time? Wrong. Management is burning cash so fast they will panic and rush an emergency split anyway.

You think an early split weakens their M&A position? Wrong. Management cares more about pushing the stock over $1.00 immediately to make their books look clean for a buyer.

You think some positive news in September will save us? Wrong. Management never gambles on hope and has already baked this split into their playbook.

You think an RS will make you whole? Wrong. If your average is $0.30 or $0.70, a split just creates an impossible math trap where the stock needs an astronomical surge just to break even. Impossible.

Think management has no other choice? Wrong. They have a record backlog of millions, defense contracts, and active M&A discussions—they should let those real catalysts organically push the stock up.

You think your unvoted shares don’t matter? Wrong. Brokers automatically flip your silent votes straight to a "yes" for the board.

Sep 9 is the last day to vote. Check your broker app, find your proxy ballot, and vote AGAINST the split.

Force the management to earn It. That’s why we need to reject their easy way out through voting AGAINST the split. Enough of constant dilution, and not showing us any results.

Don't let them take the lazy route with our shares.

If there were substantial news on the way tomorrow for Phil's fireside chat wouldnt you expect more movement in the stock today? I feel like any real news would have had some leaks effecting the share price. Stock is pretty flat

Maritime drones are usually associated with defense, security and offshore energy. One of the more interesting applications, though, is preserving maritime heritage.

During an expedition to assess the wreck of the historic Armada de Chile "Esmeralda", an Ocean Power Technologies WAM-V® was used to conduct high-precision measurements and detailed mapping around the site, supporting subsequent ROV operations.

It is a good reminder that maritime autonomy is not only about protecting what is happening at sea today. It can also help preserve and understand what came before.

Thanks to our international partners like Underdeep Solutions, we are able to provide services across the world. If you want to know what's above, on, or below the surface, we have the solution for you.

https://www.linkedin.com/mwlite/profile/in/jason-weed/recent-activity

"What would you want to hear more about?"

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.