PARAGON TECHS INC - PGNT STOCK NEWS

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PARAGON TECHS INC (PGNT) is a diversified holding company heavily invested in Ocean Power Technologies, Inc. (OPT), owning 4.8% of its outstanding shares. The company, led by Chairman and CEO Sham Gad, is committed to safeguarding shareholder value and demanding accountability from OPT's Board. Paragon has offered up to $3 million in non-dilutive preferred equity to save OPT from insolvency and ensure sustainable growth. Despite OPT's recent order and funding announcements, Paragon remains critical of OPT's financial losses and unsustainable expenses, urging transparent communication with individual investors. Paragon's ongoing proxy solicitation seeks to challenge OPT's current Board and CEO, calling for a strategic shift towards profitability and enhanced shareholder value. With a focus on corporate transparency and value creation, Paragon continues to engage with OPT shareholders to drive positive change and sustainable growth.

10/09/2023 06:30 PM

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Paragon Technologies Files Litigation Against OPT Directors for Breach of Fiduciary Duties and Entrenchment Actions

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Paragon Technologies, Inc. files litigation against Ocean Power Technologies, Inc. board of directors and CEO for alleged violation of fiduciary duty.

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08/25/2023 09:35 AM

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Paragon Technologies Calls on Ocean Power Technologies to Remove Entrenchment Devices in Advance of 2023 Annual Meeting

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Paragon Technologies calls on Ocean Power Technologies to remove entrenchment devices in advance of 2023 Annual Meeting

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08/14/2023 08:55 AM

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Paragon Technologies News Release

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Paragon Technologies, Inc. announces its results for the three and six months ended June 30, 2023. Net sales for Q2 2023 were $29.2 million, down 10.5% compared to Q2 2022. Operating income increased by 32.1% to $1.5 million. Net income attributable to Paragon Technologies and Subsidiaries was $1.0 million.

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08/11/2023 11:50 AM

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Paragon Technologies Calls on Ocean Power Technologies to Refrain from Dilutive Equity Issuances and Immediately Announce a Significant Cost Cutting Plan

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Paragon Technologies, Inc. (PGNT) Calls on Ocean Power Technologies, Inc. (OPTT) to Refrain from Dilutive Equity Issuances and Immediately Announce a Significant Cost Cutting Plan

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08/02/2023 11:45 AM

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Paragon Technologies Asks Board of Ocean Power Technologies to Explain How they Intend to Fund the Company’s Operations after July 31, 2024

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07/28/2023 09:25 AM

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Paragon Technologies New Release

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Paragon Technologies files complaint to enforce rights to inspect books and records of Ocean Power Technologies. Paragon believes OPTT is hiding something. OPTT's financial decline continues with no viable strategy for profitability. OPTT's net cash used in operating activities for FY 2023 was $21.7 million. OPTT's combined cash is $34.7 million. Paragon predicts OPTT will run out of cash in a little over one year.

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07/24/2023 10:05 AM

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Paragon Technologies Calls on the Board of Ocean Power Technologies to Return Years of Excessive Board Compensation Back to the Company

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Paragon Technologies calls on the Board of Ocean Power Technologies to return years of excessive board compensation back to the company.

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07/11/2023 05:35 PM

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Ocean Power Technologies Issues Statement in Response to Paragon Technologies

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07/11/2023 10:05 AM

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Paragon Technologies Calls on Ocean Power Technologies to Defend its 30 Year Record of Consecutive Losses, Precipitous Decline in Shareholder Value, and Entrenchment Tactics to Insulate Board from Accountability

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Paragon Technologies (OTC:PGNT) has become one of the largest shareholders of Ocean Power Technologies (OPT) with approximately 3.9% of outstanding shares. OPT has experienced significant and uninterrupted losses since its inception in 1994, resulting in the destruction of shareholder value. OPT's share price has declined from $1,200 per share to $0.60 cents. The company has failed to commercialize its products and has a current market cap of approximately $33 million. The CEO and Board of Directors collectively own less than 0.7% of the company's shares.

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05/10/2023 04:05 PM

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Paragon Technologies News Release

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FAQ

What is the current stock price of PARAGON TECHS (PGNT)?

The current stock price of PARAGON TECHS (PGNT) is $9.55 as of December 23, 2024.

What is the market cap of PARAGON TECHS (PGNT)?

The market cap of PARAGON TECHS (PGNT) is approximately 13.8M.

What is Paragon Techs Inc's ownership in Ocean Power Technologies, Inc. (OPT)?

Paragon Techs Inc owns approximately 4.8% of the outstanding shares of OPT.

What is the company's recent offer to OPT for financing?

Paragon has offered up to $3 million in non-dilutive preferred equity to save OPT from insolvency and future shareholder losses.

Who leads PARAGON TECHS INC?

PARAGON TECHS INC is led by Chairman and CEO Sham Gad.

What is the primary goal of the ongoing proxy solicitation by Paragon?

The proxy solicitation aims to challenge OPT's current Board and CEO, pushing for strategic shifts towards profitability and enhanced shareholder value.

How does Paragon Techs Inc emphasize corporate transparency?

Paragon stresses corporate transparency by demanding accountability from OPT's Board and facilitating open communication with individual investors.

What key initiatives is Paragon Techs Inc focused on?

Paragon is focused on safeguarding shareholder value, driving sustainable growth, and fostering positive change at OPT.

What recent announcements have prompted Paragon's criticism of OPT?

OPT's recent order and funding announcements, coupled with persistent financial losses and unsustainable expenses, have led to Paragon's criticism.

How does Paragon Techs Inc engage with OPT shareholders?

Paragon actively engages with OPT shareholders to advocate for value creation, strategic shifts, and enhanced transparency in corporate communications.

What is the significance of Paragon Techs Inc's investment in OPT?

Paragon's proposed investment in OPT signifies a commitment to saving the company from insolvency, fostering sustainable growth, and ensuring shareholder value.

What long-term goals does Paragon Techs Inc have for its investment in OPT?

Paragon aims to drive positive change, enhance shareholder value, and promote profitability at OPT through its strategic investments and ongoing engagement initiatives.