Paragon technologies calls on ocean power technologies to refrain from dilutive equity issuances and immediately announce a significant cost cutting plan

Easton, pa / accesswire / august 11, 2023 / paragon technologies, inc. ("paragon") (otc:pgnt), a diversified holding company which owns approximately 4.0% of the outstanding shares of ocean power technologies, inc. ("company") ("opt") (optt), calls on opt to refrain from all future equity share sales that will dilute shareholders and immediately announce a significant cost cutting plan to demonstrate the board's commitment to protecting shareholder value. on august 2, 2023 paragon issued a press release asking opt to answer critical questions regarding the future viability of the company in response to opt's 10-k filing disclosure that the company has enough cash to last through at least july 31, 2024, or less than one year from today.
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