Form 8-K - Current report
23 Agosto 2024 - 10:05PM
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
8-K
Current
Report Pursuant to Section 13 or 15(d) of
the
Securities Act of 1934
Date
of Report (Date of earliest event reported): August 19, 2024
Ocean
Power Technologies, Inc.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-33417 |
|
22-2535818 |
(State
or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(I.R.S.
Employer
Identification No.) |
28
Engelhard Drive, Suite B Monroe Township, New Jersey
(Address of principal executive offices) |
|
08831
(Zip
Code) |
(609)
730-0400
(Registrant’s
telephone number, including area code)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions (see General Instruction A.2. below):
|
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
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|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14-2(b)) |
|
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|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CRF 240.133-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol (s) |
|
Name
of each exchange on which registered |
Common
Stock $0.001 Par Value |
|
OPTT |
|
NYSE
American |
Series
A Preferred Stock Purchase Rights |
|
N/A |
|
NYSE
American |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405)
or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 4.01. Change in Registrant’s Certifying Accountant.
(a)
Dismissal of Previous Independent Registered Public Accounting Firm.
On
August 19, 2024, the Audit Committee (the “Audit Committee”) of the Board of Directors of Ocean Power Technologies, Inc.
(the “Company”) dismissed EisnerAmper LLP (“EisnerAmper”) as the Company’s independent registered public
accounting firm, effective immediately. The decision by the Audit Committee was made primarily to save on audit fees and costs.
EisnerAmper’s
audit reports on the Company’s consolidated financial statements for each of the two most recent fiscal years ended April 30, 2024
and April 30, 2023 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty,
audit scope or accounting principles, except that EisnerAmper’s reports on the consolidated financial statements of the Company
as of and for the year ended April 30, 2024, contained an explanatory paragraph stating that “The accompanying financial statements
have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1(b) to the financial statements,
the Company has recurring net losses and net cash flow used in operations that raise substantial doubt about its ability to continue
as a going concern. Management’s plans in regard to these matters are also described in Note 1(b). The financial statements do
not include any adjustments that might result from the outcome of this uncertainty.”
During
the Company’s two most recent fiscal years ended April 30, 2024 and April 30, 2023 and during the subsequent interim period through
August 19, 2024, there were (i) no disagreements with EisnerAmper on any matter of accounting principles or practices, financial statement
disclosure or auditing scope or procedures, which if not resolved to EisnerAmper’s satisfaction, would have caused EisnerAmper
to make reference to the subject matter of the disagreements in its reports on the Company’s consolidated financial statements
for such years, and (ii) no “reportable events” as defined in Item 304(a)(1)(v) of Regulation S-K.
The
Company provided EisnerAmper with a copy of the disclosures in this Current Report on Form 8-K (this “Report”) prior to filing
this Report with the Securities and Exchange Commission (the “SEC”). The Company has requested that EisnerAmper furnish a
letter addressed to the SEC stating whether or not EisnerAmper agrees with the statements above. A copy of EisnerAmper’s letter
dated August 23, 2024 is filed as Exhibit 16.1 to this Report.
(b)
Appointment of New Independent Registered Public Accounting Firm.
The
Audit Committee, on and effective as of August 19, 2024, appointed Moss Adams LLP (“Moss Adams”) as the Company’s independent
registered public accounting firm for the Company’s fiscal year ended April 30, 2025. During the Company’s two most recent
fiscal years ended April 30, 2024 and April 30, 2023 and during the subsequent interim period through August 19, 2024, neither the Company
nor anyone acting on its behalf has consulted with Moss Adams, regarding either: (i) the application of accounting principles to a specific
transaction, completed or proposed, or the type of audit opinion that might be rendered on the Company’s consolidated financial
statements, and neither a written report nor oral advice was provided to the Company that Moss Adams concluded was an important factor
considered by the Company in reaching a decision as to any accounting, auditing, or financial reporting issue, or (ii) any matter that
was either the subject of a “disagreement” (as defined in Item 304(a)(1)(iv) of Regulation S-K) or a “reportable event”
(as described in Item 304(a)(1)(v) of Regulation S-K).
Item 9.01 Financial Statements and Exhibits.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Date:
August 23, 2024
|
OCEAN
POWER TECHNOLOGIES, INC. |
|
|
|
/s/
Philipp Stratmann |
|
Philipp
Stratmann |
|
President
and Chief Executive Officer |
Exhibit
16.1
August
23, 2024
Securities
and Exchange Commission
100
F Street, N.E.
Washington,
DC 20549
Ladies
and Gentlemen:
We
have read Item 4.01 of Form 8-K dated August 23, 2024 of Ocean Power Technologies, Inc. and are in agreement with the statements contained
therein as it regards our firm. We have no basis to agree or disagree with other statements of the registrant contained in Item 4.01.
Sincerely,
/s/
EisnerAmper LLP
EisnerAmper
LLP
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Grafico Azioni Ocean Power Technologies (AMEX:OPTT)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Ocean Power Technologies (AMEX:OPTT)
Storico
Da Dic 2023 a Dic 2024