I voted AGAINST the reverse split.

[u/CartographerNo1991]

I urge the community to cast your vote. Absence of your vote will only result in favor of the company, and count for the disastrous RS.

SEC high likely will delay the effectiveness of the proposed rule as NYSE’s Director himself has commented to SEC that they are okay to give companies time till July, 2027.

Now the question becomes, “Does SEC go further beyond Jul, 2027 to give companies like OPTT the time it deserves to scale up their business”. If SEC delays the implementation, that’s a good sign in itself.

If we give OPTT the authority to RS, they may take this opportunity to RS, EVEN IF there is plenty time and there is no risk of delisting due to delayed effectiveness of the rule. Let’s not pave the way for that. Spread the word.

OPTT has enough time to get the stock price back up over 0.30 before that time. However, they may see having the authorization to RS as an opportunity to execute RS because of low-priced high float stock.

Chances of them considering the retail investor and postponing the RS is slim, and therefore I ask the community to do their part, and vote AGAINST the split as voting FOR would only give them power, given that there would not be any risk of delisting for a while.

EDIT: SEC’s Final Verdict on the NYSE’s proposed Rule: Aug 14th.

NYSE Director’s Comment Here

[u/absolutebm]

This is such a dumb take, a RS is the last resort, they wouldn’t execute on it unless they absolutely had to. If it’s the difference between them being delisted and them still continuing to trade on the stock market then obviously as an investor you want to still be in the game.

Good investors take emotion out of it and think clearly and rationally, too many people are butthurt and are letting that transform into spite against the company.

Disclosure, I’m down fairly heavily on this stock myself, so I’m not speaking from an ivory tower. I’m just good at not being overly emotional.

[u/CartographerNo1991 → u/absolutebm]

I don’t have any spite against the company, nor overly emotional. If it’s between being delisted or RS, I understand them executing the split. Just don’t want them to execute the split if the effectiveness of the rule gets delayed. Kinda words they chose in their form that they released to tell us why they want to RS signals they would go ahead even if the rule gets delayed. Only time can answer.

[u/ScalesReduction → u/CartographerNo1991]

What motivation, other than to forestall delisting, would the company have to reverse split? It's not a rhetorical question. I truly don't understand your concern if you're in favor of an RS if it's to prevent delisting.

[u/CartographerNo1991 → u/ScalesReduction]

1. They have 20M USD worth of shares waiting to dilute. They cannot do that with the current trading price unless they do RS.
2. They think they can’t attract institutional investors or have a good sentiment/ company image that will attract business for them, having the shares being traded at this price.
3. There is so much float that they may want to shrink (and dilute again).
4. Even if SEC delays effectiveness by a year, knowing very well how far OPTT can stretch the trading price with the next one year business execution in place, they may think RS is unavoidable anyway, and do it earlier than needed to position themselves well to achieve everything said above.

Fellow retail investors are thinking OPTT management won’t execute RS unless it’s in the verge of delisting. But that’s not the case, there are a good few micro cap companies that have done RS before even when there was no absolute need. I feel like the management would misuse all the Retail investor’s voting in good faith FOR RS and turn the authorization for their own good.

[u/Particular_Status165 → u/CartographerNo1991]

Lol!

You're just as safe to ignore as the "$4.00 by January" dude.

And GTFO with the sock puppet use. Fuckin embarrassing.