Ocean Power Technologies Regains NASDAQ Listing Compliance
May 21 2019 - 9:00AM
Ocean Power Technologies, Inc. (NASDAQ: OPTT), (“OPT”, or “the
Company”) a leader in innovative and cost-effective ocean energy
solutions, announced today that it has received written
notification from the Nasdaq Hearings Panel (the “Panel”) notifying
the Company that it has regained compliance with the minimum
shareholders’ equity rule, and further, that the Company complies
with all other applicable standards for continued listing of its
securities on the NASDAQ Stock Market, and that the Panel considers
this matter closed.
About Ocean Power Technologies
Headquartered in Monroe Township, New
Jersey, Ocean Power Technologies aspires to transform the
world through durable, innovative and cost-effective ocean energy
solutions. Its PB3 PowerBuoy® uses ocean waves to provide clean and
reliable electric power and real-time data communications for
remote offshore applications in markets such as oil and gas,
defense and security, science and research, and
communications. To learn more, visit
www.oceanpowertechnologies.com.
For Further Information:
Follow us on Twitter: https://twitter.com/OceanPowerTechFollow
us on Facebook:
https://www.facebook.com/oceanpowertechnologiesFollow us on
LinkedIn:
https://www.linkedin.com//company/ocean-power-technologies
Forward-Looking Statements
This release may contain "forward-looking
statements" that are within the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are identified by certain words or phrases such as
"may", "will", "aim", "will likely result", "believe", "expect",
"will continue", "anticipate", "estimate", "intend", "plan",
"contemplate", "seek to", "future", "objective", "goal", "project",
"should", "will pursue" and similar expressions or variations of
such expressions. These forward-looking statements reflect the
Company's current expectations about its future plans and
performance. These forward-looking statements rely on a number of
assumptions and estimates which could be inaccurate and which are
subject to risks and uncertainties. Actual results could vary
materially from those anticipated or expressed in any
forward-looking statement made by the Company. Please refer to the
Company's most recent Forms 10-Q and 10-K and subsequent filings
with the SEC for a further discussion of these risks and
uncertainties. The Company disclaims any obligation or intent to
update the forward-looking statements in order to reflect events or
circumstances after the date of this release.
Investor Relations
Contact:Michael Porter, PresidentPorter,
LeVay & RoseEmail: ocean@plrinvest.comPhone: 212-564-4700
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