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Ocean Power Technologies Announces Results For The Fiscal Third Quarter Ended January 31, 2012

Stocks in this article: OPTT

Consolidated Balance Sheets as of January 31, 2012 and April 30, 2011

  January 31,   April 30,
2012 2011
ASSETS (Unaudited)    
Current assets:
Cash and cash equivalents $ 7,829,751 4,376,136
Marketable securities 25,466,356 26,018,594
Accounts receivable 886,428 1,285,000
Unbilled receivables 133,982 456,316
Other current assets 801,009 832,142
Total current assets 35,117,526 32,968,188
Property and equipment, net 734,734 792,092
Patents, net 1,349,857 1,222,368
Restricted cash 1,446,944 1,624,669
Marketable securities 3,015,708 16,323,016
Other noncurrent assets 520,647 622,245
Total assets $ 42,185,416 53,552,578
Current liabilities:
Accounts payable $ 458,571 1,224,728
Accrued expenses 3,360,517 4,302,952
Deferred credits payable 600,000 -
Unearned revenues 1,264,608 344,022
Current portion of long term debt 100,000 139,378
Total current liabilities 5,783,696 6,011,080
Long-term debt 375,000 450,000
Deferred credits - 600,000
Total liabilities 6,158,696 7,061,080
Ocean Power Technologies, Inc. Stockholders’ equity:
Preferred stock, $0.001 par value; authorized

5,000,000 shares; none issued or outstanding



Common stock, $0.001 par value; authorized 105,000,000

shares; issued of 10,414,389 and 10,419,183 shares,




Treasury stock, at cost; 22,195 and 7,685 shares,


(98,517) (42,734)
Additional paid-in capital 158,110,305 157,174,930
Accumulated deficit (121,893,079) (110,848,972)
Accumulated other comprehensive (loss) income (90,266) 175,907
Total Ocean Power Technologies, Inc. stockholders' equity 36,038,857 46,469,550
Noncontrolling interest in Ocean Power Technologies (Australasia) Pty, Ltd (12,137) 21,948
Total equity 36,026,720 46,491,498
Total liabilities and stockholders’ equity $ 42,185,416 53,552,578

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