Paragon Technologies Recommends Ocean Power Shareholders Vote AGAINST the Company's Plan to Increase Its Authorized Shares and Hold the Board Accountable for Its Wasteful Spending That Lea...
PARAGON TECHS INC (PGNT)
NASDAQ:AMEX Investor Relations:
pgntgroup.com
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Source: Yahoo! Finance
Power Technologies, Inc. (NYSE American:OPTT), ("Company" or "OPT"), issues the following statement to OPT shareholders: On July 5, OPT filed a proxy statement calling for a special meeting of shareholders on August 30, 2024, asking shareholders to approve increasing the Company's authorized shares to 200 million, up from 100 million. On July 25, 2025, OPT announced Fiscal 2024 financial results revealing that it lost $27.4 million in fiscal 2024 versus $26.3 million in fiscal 2023. In reporting this record loss, CEO Philip Stratmann continues to celebrate the Company's revenue growth while failing to address the growing losses. And the Company's forecast of $12 million in contracted orders in FY 2025, given the Company's $32 million in operating expenses in FY 2024, likely guarantees another year of significant losses. In an SEC filing on December 13, 2023, OPT's CEO issued a statement that OPT would generate "positive cash flow in calendar year 2025 using current cash availa
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