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Forum - Ocean Power Tech - OPTT   

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From: stormcat (Rep: 422)Date: 07/14/2017 12:49
Forum: Ocean Power Tech - Msg #1150Thread #673938976 (Rec: 0)
time to accumulate here ... 1.35 area.. loving what CEO said today going forward

Balance Sheet and Available Cash

As of April 30, 2017, total cash, cash equivalents and marketable securities were $8.4 million, up from $6.8 million on April 30, 2016. Restricted cash was $488,000 as of April 30, 2017 and $300,000 as of April 30, 2016. Net cash used in operating activities was $10.0 million for fiscal year 2017, compared with $10.9 million for fiscal year 2016.

Conclusion

Mr. Kirby concluded, "We continue to be excited by our commercial progress and the strong positive market feedback we have been receiving about the need for persistent offshore power and communications. We are continuing to discuss new opportunities with potential customers as part of our business development and commercialization efforts. We are encouraged by the opportunities in our target markets, which we believe can derive significant benefits from our PB3 PowerBuoy power and real-time communications solutions

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