Business Context and Reporting Period
Company: Ocean Power Technologies, Inc. (OPTT)
Filing Type: Form 8-K (Current Report)
Date of Report: August 17, 2021
Reporting Period: Single event date (August 17, 2021)
This filing reports a specific corporate event rather than a standard financial reporting period. The Company is a Delaware corporation listed on the NYSE American under the symbol OPTT.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This Form 8-K is an event-driven report and does not contain a financial statement or quarterly results.
Material Changes
- Event: On August 17, 2021, the Company announced the receipt of an award from the U.S. Department of Energy (DOE).
- Purpose: The award is designated for the further development of a next-generation wave energy converter.
- Reference: Details are contained in the press release filed as Exhibit 99.1.
Guidance, Outlook, and Risks
Management Commentary: The filing references a press release regarding the DOE award but does not include specific management commentary, forward-looking guidance, or risk factors within the body of this 8-K text.
Unusual Items: The receipt of the DOE award is the primary unusual item reported in this filing.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for the specific dollar amount of the DOE award.
- Verify the timeline and milestones associated with the next-generation wave energy converter development.
- Confirm if the award is a grant, loan, or contract and any associated performance obligations.
- Check subsequent filings for updates on the utilization of these funds and project progress.