Ocean Power Technologies, Inc. (OPTT) Form 8-K — Oct 28, 2026
Ocean Power Technologies' audit committee dismissed Baker Tilly as its auditor on October 26, 2026, citing audit fee savings, and appointed Carr, Riggs & Ingram for fiscal year 2027. Baker Tilly agreed with the company's statements and its prior audit reports were unqualified, aside from a going-concern explanatory paragraph for fiscal 2026. The filing also reiterates material weaknesses in internal controls over complex transactions (including revenue recognition and convertible debt) and inventory valuation, and confirms substantial doubt about the company's ability to continue as a going concern.
Key figures
- Issued patents us
- more than 15
- Issued patents worldwide
- more than 60
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