Late last year I sold a large percentage of my shares at 9.00 during the final run-up. I think OPTT hasn't proven they are worth the cash in the bank at this moment. That being said, it will only take one major partnership to change all that. I also believe that OPTT may be a buyout play, because I believe that OPTT will need to partner with a wind energy to sell floating wind/wave power stations.
Because of the possibility of a news release, or the renewed viability of the PB150 if it can be incorporated with a wind turbine, I think the stock trading 3$ under cash value is a little bit pessimistic.
Last, earnings will steadily increase going forward from the last quarter as backlog has grown and many start-up projects will come on-line as the PB150 is released.... but GOD! loose_buoys has more than a good argument when he mocks OPTT management and their far too aggressive statements which greatly overstate their potential regarding expeditions product development.