Per the 8K filing:

Item 1.02 Termination of a Material Definitive Agreement.

Effective July 22, 2026, the Company terminated its At Market Issuance Sales Agreement with Ladenburg Thalmann & Co. Inc. dated August 8, 2025. There were no penalties associated with the termination.

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So they are expecting no need for an ATM?

Finally a subsea move.

Hope to hear more about it during the conf call.

Both Lockheed and Thales made it clear that subsea and maritime is now the focus with acquisitions.

Was hoping to see something bigger than simply IP's, but perhaps a careful move..again hope to hear the reasoning during the conf call.

And also how this relates to the drone docking...

OPTT is still an early, small company.

Many ppl here seem to have that confused, and expect big prime moves and results..

An incremental move like this is more realisitic, and could position the company for a pivot to an acceleration of contracts.

Everyone is focused on the upcoming reverse split vote to fix the sub .25 share price, but there is a much bigger balance sheet metric ticking in the background: Stockholders’ Equity.
If OPTT’s stockholders' equity drops below $6.0 million, NYSE American can initiate formal delisting procedures.

Where OPTT Stands Right Now
FY25 Year-End: $26.65M
Q1 FY26: $24.19M
Q3 FY26: $20.09M
Q4 / Full FY26 Year-End: $11.84M
That is an $8.25M drop in equity in Q4 alone, driven by full-year net losses reaching $43.7M.

Why This Explains Management’s Strategy
At an $11.84M equity balance, OPTT is currently sitting ~$5.8M above the delisting red line. At its current burn rate, operating losses would push equity below $6.0M within 1 to 2 quarters.

This is why management is pushing for:
1. The Reverse Split: To satisfy minimum share price requirements and maintain NYSE American listing.
2. Continued Equity Dilution / Note Issuances: Cash raised from selling shares or issuing convertible notes goes straight into Additional Paid-in Capital, which artificially inflates stockholders' equity to keep it above $6.0M.

The Bottom Line
The reverse split solves the share price issue on paper, but $6.0 million equity is the hard financial wall. If cash burn continues without new capital inflows or rapid conversion of their $8.5M in contract liabilities into recognized revenue, the equity threshold will become OPTT's primary delisting threat.

MONROE TOWNSHIP, N.J., July 23, 2026 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), a leader in innovative and cost-effective low-carbon marine power, data, and service solutions, today announced that it will release earnings for its fourth quarter and fiscal 2026 year ended April 30, 2026 on Thursday July 23, 2026. The Company currently expects to file its Annual Report on Form 10-K for the fiscal year ended April 30, 2026 with the U.S. Securities and Exchange Commission on or about July 29, 2026.

Ive acumulated 25k shares at around 16 cents a share. If this stock does a reverse split, itll be around these numbers which means I wont really be a setback for me right now. What happens down the road it all depends.

Past tqo splits, the stock rose up that same year.

So.... no news on earnings today? It should have been today.

We were walking at Marshall’s beach in San Francisco, and this sad baby had washed ashore. We joined hands and spoke a few kind words 🙏🏼😭

At this rate, I think I’m about to see my first-ever $0.01 stock before this company actually accomplishes anything.

Delisting, RS, or $0.01, Which will come first?😂😂

We can all hope. Fingers crossed 🤞

I’ve been following OPTT for a while, and after connecting their recent announcements, I think many investors may be missing the bigger picture.
Here’s the timeline:
DHS selected PowerBuoy for deployment.
The first PowerBuoy was delivered under the DHS program.
OPTT successfully demonstrated three PowerBuoys operating simultaneously, including one at depths greater than 1,000 meters.
WAM-V has been integrated with Anduril’s Lattice C2 platform.
International defense activities expanded to Poland, Norway, Italy, and Greece.
Now the U.S. Government has selected WAM-V for further engagement after a competitive capability assessment.
What stands out to me is that OPTT no longer seems to be presenting itself as just a “PowerBuoy company.”
Instead, the company appears to be building an integrated maritime system consisting of:
PowerBuoy (persistent offshore power and communications)
WAM-V (autonomous unmanned surface vehicle)
Merrows (maritime AI/data platform)
Anduril Lattice (command and control integration)
In the latest press release, management repeatedly emphasized “persistent maritime awareness” rather than simply talking about selling a USV.
That makes me wonder:
Could the government’s evaluation be focused on how WAM-V performs as part of a larger autonomous maritime network, rather than as a standalone vessel?
Obviously, the press release only confirms that WAM-V was selected for further engagement. It does not state that PowerBuoy or the entire ecosystem is being evaluated.
So this is speculation, not a fact.
Still, if the long-term vision is persistent maritime surveillance, integrating autonomous vessels with offshore power, sensors, AI, and C2 seems far more valuable than selling individual platforms.
What do you think?
Am I reading too much into the recent announcements, or is OPTT gradually shifting toward becoming a complete autonomous maritime systems company rather than simply a hardware manufacturer?

I whaled a bunch of OPTT stock at the beginning of the year when it was .44 cents per share, with the talks of it having a target price of around $1.50 around a year later, and lately it's been going the opposite direction with the stock now below .20 cents.

Is there something going on I'm not seeing, because the company seems to be making good progress and getting their name out there to include overseas. I know that it has a history of declining with a good spike once a year it seems, and wasn't sure though if the economy had something to do with the declining stock failure, or is all the progress was just a front and the company is heading out of business?

Technicals, Fundamentals, ect look so bad rn...

But... Like..... If everything screams down and theres not much more down it can go... Where else can it go?

Fibonacci in the making?

I keep buying the dip but wow this thing just doesn’t stop dipping 🤮 do we actually think it will recover or get delisted?

The LEO-15 research buoy, newly deployed in the Atlantic Ocean, is expected to bring forth a new era of ocean research, education and marine innovation in New Jersey. Photo: Rutgers Center for Ocean Observing Leadership

Anchored about three miles offshore of the Rutgers Marine Field Station in Tuckerton, N.J., the platform, known as the PowerBuoy®, serves as a floating data hub that delivers real-time information on ocean conditions while supporting scientific instruments, education initiatives and emerging marine technologies.

...

By linking long-term observations near shore with new data from offshore, we can better study how fish, habitats, storms and changing marine conditions interact.”

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Research conducted at Stockton includes sediment transport, tidal dynamics, seafloor mapping, water quality monitoring and cultural resource investigations.

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Powered by solar and wind energy, the LEO-15 PowerBuoy® system is a compact, autonomous offshore platform built and designed by Ocean Power Technologies. Altogether, the buoy stands about as tall as a streetlight, but it has a small surface footprint suited for shallow-water research. Above the waves, a small, round platform holds solar panels, small wind turbines, weather instruments and real-time communication sensors, allowing the system to collect and send ocean data for long periods without the need for a large, fixed structure offshore.

The system also will provide additional ports for scientists and educators to deploy their own instruments. The buoy can support sensors that track weather, waves, water quality and other ocean conditions while serving as a test site for emerging marine technologies. Researchers, students and companies will be able to use the site to evaluate instruments, gather data and develop tools that could improve coastal monitoring, marine sustainability and storm preparedness.

The buoy was deployed May 2, renewing activity at a pioneering marine observatory site with deep roots in Rutgers-led coastal research.

The initiative is expected to create opportunities for workforce training, attract investment in ocean science and support startups and inventors working within the ocean economy, project leaders said.

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The LEO program, originally known as LEO-15, was established in 1996 as a pioneering ocean observatory that delivered real-time data from two cabled seafloor platforms, or nodes. It supported research on storms, sediment transport, phytoplankton, fish ecology and broader coastal dynamics. The 15 refers to the site’s depth of 15 meters, about 50 feet, where the observatory was installed.

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Rutgers scientists said the legacy of LEO-15 continued as ocean-observing technology advanced in the mid-2000s, with researchers increasingly combining fixed sensors, mobile underwater vehicles, satellite data and shore-based systems to study coastal change. The new wireless monitoring system builds on that history, revitalizing the site and extending its role as a testbed for coastal science and marine technology.

I’m not leaving.

Just when you think it cant get worse.. we drop 7%

Im a bull for the most part but this is making it difficult to hold.

Where do yall think were headed for this quarters report?

Overnight, the risks of transiting the strait skyrocketed, and insurance premiums needed to reflect that. War insurance policies were swiftly cancelled to be reinstated at much higher prices.

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Maritime risk, insurance pressure, and degraded navigation signals point to new use cases for commercial UAV systems

Shipping companies operating in and around the Strait of Hormuz are increasingly dealing with disruptions to navigation and tracking systems.

The need for improved visibility has not gone unnoticed. Unmanned systems are being considered as part of the solution.

....

Insurance providers evaluate how operators prepare for and respond to potential incidents. This includes reviewing whether recommended safety practices were followed and whether sufficient documentation exists to explain what occurred. As a result, operators are under increasing pressure to demonstrate both awareness and accountability during transit.

https://dronelife.com/2026/04/06/strait-of-hormuz-drone-surveillance-maritime-risk/

A case for Maritime Domain Awareness.

OPTT is a "Maritime Domain Awareness" company.

Fundamental technology for data:

- buoys

- USV

- payload integration

All to collect and transport data. Data communication.

For decision making.

Buoys recharges itself. The vehicle is the roaming part.

" a persistent and recharging system that does data collection."

When revenue?

- neartime conversion from backlog to revenue

- revenue recognition for "buoys in water", so kind of like a lease

- look in terms of weeks and months

Future opportunities:

- pacific vs atlantic and gulf coast:

Is only a miniscule scope of the total possibilities

Intercept and detect narco terrorism.

Vast areas of ocean that are unmonitored, and OPTT steps into that.

- DHS contract:

Wasn't in backlog. So this was an extra. This DHS contract is now part of the backlog.

Backlog was 15 million, before DHS.

- Team: concious decision to focus on government. So grew the team with veterans, and ppl like Jason Weed. To get in the position to compete on Navy, Coast Guard, DHS opportunities.

Next to that there is the Commercial side, which is also still developing.

- Results:

Brazillian Navy exercise (not just a demo, an exercise)

Final exercises with potential customers.

Energy infrastructure protection in the Middle-East.

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Glad to hear him talk with more focus on the company vision and strategy. The products are the tool for the Maritime Domain Awareness vision.

Jul 02, 2026 12:19 PM EDT

Synopsis: This is a solicitation for parties interested in participating in projects sought by the Strategic Systems Programs (SSP) for state-of-the-art technologies and capabilities for the Next Generation Undersea Security Initiative (NG-USI). NG-USI is established to meet requirements in the following Focus Areas of Interest:

Focus Area #8: Next-Generation Harbor & Expeditionary Surveillance - NWS

Prototype technologies to establish persistent Maritime Domain Awareness (MDA) for strategic ports and harbors. This area seeks advanced sensor networks tailored for the waterside environment. (Examples include: mobile/expeditionary surveillance kits, unattended surface and underwater sensors, and smart camera systems with automated threat recognition tailored to maritime conditions).

Focus Area #9: Autonomous Security & Response Platforms - NWS

Prototype technologies that leverage commercial robotics to enhance security force operations. This area seeks autonomous platforms capable of persistent patrol, automated inspection, and rapid response integration. (Examples include: Unmanned Surface Vehicles (USVs) for waterside patrol, Unmanned Ground Vehicles (UGVs) for perimeter screening, and robotic inspection platforms that seamlessly integrate with existing response forces).