Streetbeat News

PGNT

Paragon Technologies Inc

Employees

Industry

Iron and Steel Forging

Open

N/A

Mkt cap

N/A

Volume

N/A

High

N/A

P/E Ratio

N/A

52-wk high

N/A

Low

N/A

Div yield

N/A

52-wk low

N/A

Paragon Technologies, a major shareholder of Ocean Power Technologies (OPTT), advises shareholders to vote against OPTT's proposal to increase authorized shares by 100 million. OPTT's fiscal 2024 results show a loss of $27.4 million, up from $26.3 million in fiscal 2023.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2024 | 8:34 pm

Paragon Technologies, Inc. (PGNT), holding 4.8% of Ocean Power Technologies, Inc. (OPTT), is urging shareholders to vote using the BLUE proxy card against OPT's current Board and CEO, citing a 90% decline in OPTT's share price since their tenure. Paragon claims OPT's statements about votes on the BLUE card not counting are misleading and expects the Delaware courts to resolve the issue of OPT's refusal to recognize Paragon's director nominees. Paragon is soliciting votes for its own nominees for the upcoming annual meeting.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 3:08 pm

Paragon Technologies (PGNT) has issued a statement to Ocean Power Technologies (OPTT) shareholders, expressing concerns about OPTT's financial performance and stock price decline under the current Board and CEO. Paragon, owning 4.9% of OPTT, criticizes the Board for misleading optimism and poor capital management, suggesting OPT could be worth over $3 per share with better cost structure and focus on Marine Advanced Robotics. Paragon urges shareholders to vote for their Blue proxy card, proposing steps to improve OPTT's performance and threatening further action if the Board does not cooperate.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:26 pm

Paragon Technologies, Inc., holding 4.9% of Ocean Power Technologies, Inc. shares, criticizes OPT for financial mismanagement and attempts to divert attention from its poor financial performance. Paragon highlights OPT's increased losses, declining share price, and executive compensation exceeding revenues. Paragon, seeking board representation, accuses OPT of misleading shareholders with non-guaranteed contract announcements and urges voting for their proxy card to address mismanagement.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 4:51 pm

Paragon Technologies (OTC:PGNT), owning 4.9% of Ocean Power Technologies (NYSE:OPTT), criticizes OPTT's board for entrenchment and dishonesty. Paragon's request for a preliminary injunction against OPTT's advance notice bylaws was denied, but the court expressed doubts about the board's good faith. Paragon accuses OPTT of fabricating schemes to block alternate director nominations and questions the board's spending of over $6 million to defend against Paragon's campaign, given OPTT's financial losses and risk of insolvency. Paragon urges shareholders to vote for its director nominees, citing its own track record of creating shareholder value.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 9:33 pm

Paragon Technologies (PGNT), a 4% shareholder of Ocean Power Technologies (OPTT), has demanded that OPTT's board return all excessive compensation to the company over the past ten years. Paragon criticizes OPTT's board for its financial losses, rapidly degrading balance sheet, and excessive board compensation despite the company's poor performance. Paragon intends to hold the board accountable to the fullest extent of the law and plans to make a filing with the SEC to solicit votes for the election of director nominees at OPTT's 2023 annual meeting.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 2:07 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.