On February 15, 2024, Paragon Technologies, Inc. announced that it calls on Ocean Power Technologies, Inc.?s CEO Phillip Stratmann to immediately provide shareholders with appropriate transparency regarding the Company?s recent order and funding announcements and how they impact the Company?s bottom line in light of the Company?s unsustainable expenses. Paragon Technologies expressed its view that the Company is providing shareholders with incomplete and biased information regarding its recent contract and funding awards in an attempt to influence shareholders. Paragon Technologies added that despite continued and financial losses under this management team, this week the Company promotes a new order contract order and a funding award for its suite of projects.

Paragon Technologies also stated that shareholders would like to know how these orders are going to affect the financial condition of the Company.