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Ocean Power Technologies OPTT

Ocean Power Technologies entered into a $373,750 note agreement

Item 1.01 Enters material agreement, Item 2.03 Takes on debt, Item 3.02 Unregistered share sale

Form
8-K
Filed
Importance
Major
  1. Issued a 12% promissory note for $373,750 with $48,750 original issue discount
  2. Note matures on October 30, 2027 with prepayment discounts up to 4%
  3. Additional financing of up to $2,875,000 possible in next 12 months
  4. Note can convert to shares at 75% of lowest trading price

Written from the 8-K on EDGAR. Check the filing before you rely on it.

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The reading, claim by claim

0 of 3 claims matched the filing text.

Not found in the filing text

  • For the quarter ended July 31, 2026, the company reported revenue of $300,000 and a net loss of $10.5 million.
  • The company's gross margin was -943.7%, with an operating margin of -5025.7% and a net margin of -3512.3%.
  • Revenue for the quarter was down 74.6% compared to the same period a year earlier.

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