Have to wonder how far the ripple effect from the Navy's termination of its PowerBuoy project will spread.
For years OPTT relied on its Navy relation as a source of credibility. Now that the Navy has terminated its PowerBuoy project the ripple effect could be considerable.
Could it have an effect on the Oregon project which is public review? Don't know but, it could surely intensified scrutiny.
And what effect could it have on likely future funding. OPTT is running out of cash and has no funds to develop the Oregon project. The Navy's absence could impact the company's ability to raise those funds.
The Navy termination is a big splash and the ripples will spread.
They have a lot of cash, every $1 of the stock comes with $1.15 of cash right now! The fact it is trading so low means people are really psstimistic and feel this will burn through that cash and produce nothing for it. If they just shut down today, returns all cash to shareholders and liquidated their remaining items they would return about $4-$5 per share. Honestly, I think that is the way they should go.