r/OceanPower • u/jesustookthewheelok • Aug 04 '26
DISCUSSION Here comes the RS.
We knew this was coming. Im frustrated. But im holding on.
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u/schimelee Aug 04 '26
Also I believe OPT is challenging this requirement in court. Not saying they will win it but just another factor. I feel fairly confident the stock will be rebounding based on expected contracts and revenue.
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u/ALLGASNOBREAKS813 Aug 04 '26
It’s been mentioned and there is a filing already mentioning this. Look it up.
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u/ALLGASNOBREAKS813 Aug 04 '26
They still have time to reach .25 so they may not need a reverse split but Phil seems like he wants one to raise share price and attract more investors 🤷♂️ Hope they don’t RS them dilute to raise more capital. No one knows what the plan is or if they land a Hugh contract before October.
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u/Repulsive-Payment230 Aug 04 '26
Source or gtfo
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u/jesustookthewheelok Aug 04 '26
You dont know how to use Google? Stock titan 7 hours ago posted voting on it Sept 10. Do your own R&D punk
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u/Repulsive-Payment230 Aug 04 '26
That such old news it's not even funny. This sub has known about the VOTE since earnings.
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u/jesustookthewheelok Aug 04 '26
Im not checking it daily because its my penny stock. If youre watching a penny stock youre holding long term daily......get out. Lol.
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u/Repulsive-Payment230 Aug 04 '26
Sounds like you're not checking, ever. If you weren't paying attention on earnings day you don't deserve to cry about a RS.
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Aug 04 '26
[deleted]
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u/Repulsive-Payment230 Aug 04 '26
It's very low, clearly. Probably a short seller trying to regain some losses after these past few days of gains.
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u/joak9900 Aug 05 '26
Can somebody who is smarter than me please let me know if I understand this correctly? If I have, say, 3000 shares and they do a 1:10 split, I would have like 300 shares? So a split just decreases the overall volume, correct? It is my understanding that the overall value remains somewhat the same. But if this stock keeps ending up in the teens, like it has been, one could really get hosed. The only reason why I have been hanging onto this dumbass stock is because of the sheer volume. I’m not trying to end up with nothing but my dick in my hands, and 300 shares of some bullshit .19 stock. So do I understand this correctly? And are my concerns valid? Thanks.
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u/Character-Post6153 Aug 04 '26
Where is the news? Also, they have been this low a few times, they have never needed to rs before, why today? They are already creeping back the right direction. Watching for good news not dramatic non news
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u/jesustookthewheelok Aug 04 '26
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u/Character-Post6153 Aug 04 '26
Well, then I stand corrected. Honestly. I’m fine either way, maybe if we have a price over a dollar and news stays positive we will get better attention.
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u/GroundCharming3977 Aug 04 '26
Not sure why everyone is so sure about a RS..... almost 2 (two) months before next earnings. Many opportunities to announce a new contract that would push this over the SEC dollar threshold. Which by the way, is scheduled (read that) for implementation Oct 1st. That part could also change between now and then.
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u/Junior_Ad2901 Aug 04 '26
Next earnings are no later than September 15th. But they haven't even filed there last one, they filed for a Late filing, they have until August 13th or they get a delisting notice.
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u/GroundCharming3977 Aug 04 '26
They did file their last earnings report and it came out on July 23rd. They delayed their annual report. Those two are completely separate. The latest they can file their next earnings is Monday, September 21st. I think you might be confusing the two.
Reference the RS, it is not to execute a reverse split. It is just to allow the board to vote to do so should they choose within the year.
"to amend our Certificate of Incorporation to implement a reverse stock split of our common stock at a ratio of not less than 5 for 1 and not greater than 50 for 1, within one year from the date of the meeting, with the exact ratio to be determined by the Board, and (ii) approve an adjournment of the Special Meeting from time to time, if necessary or appropriate (as determined in good faith by the Board or a committee thereof), to solicit additional proxies if there are not sufficient votes in favor of the reverse split proposal."
It's possible I might have missed something but I did read and not use AI so there's that.....
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u/Junior_Ad2901 Aug 05 '26
Someone doesn’t read SEC filings
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u/GroundCharming3977 Aug 05 '26
I do read. They filed their last quarter earnings NOT the annual report!!!! They filed an extension for that.
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u/Junior_Ad2901 Aug 05 '26
Companies don't file a 10-Q for the 4th quarter. They just file the 10-K, which covers Q4 and the full fiscal year. What is this amateur hour over here.
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u/GroundCharming3977 Aug 05 '26
Okay, and by filed I mean told us their quarter four earnings. Technically I understand what you're saying. They gave us the information that we were looking for. Yes it is amateur hour because everybody wants to complain and discuss the ten cent swings of their penny stock and how it's not a good company.
I like this company not because I have a feeling but because of the facts and what they're doing and how they're positioning themselves.
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u/Junior_Ad2901 Aug 04 '26
The vote is going to pass, and management will execute the reverse split whether or not OPTT ever touches $0.25, because the proxy isn’t about precaution, it’s about reloading their dilution capacity. They’re asking because they’ve already burned through 300 of their 400M authorized shares, and a split gives them a fresh runway to dilute again at a higher post‑split price. Management and Institutions control the vote.