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Ocean Power Technologies Announces Results For The Fiscal First Quarter Ended July 31, 2012

Stocks in this article: OPTT

Consolidated Balance Sheets as of

July 31, 2012 and April 30, 2012

ASSETS   July 31,   April 30,
2012 2012
Current assets:
Cash and cash equivalents $ 5,089,657 9,353,460
Marketable securities 23,017,509 22,369,484
Accounts receivable 1,157,791 1,064,796
Unbilled receivables 235,493 223,050
Other current assets 718,270 842,820
Total current assets 30,218,720 33,853,610
Property and equipment, net 880,018 682,933
Patents, net 1,215,248 1,269,457
Restricted cash 1,308,656 1,453,712
Other noncurrent assets 194,618 181,925
Total assets $ 33,817,260 37,441,637
Current liabilities:
Accounts payable $ 656,810 440,773
Accrued expenses 3,176,831 2,770,094
Deferred credits payable 600,000 600,000
Unearned revenues 846,422 1,073,389
Current portion of long term debt 100,000 100,000
Total current liabilities 5,380,063 4,984,256
Long-term debt 325,000 350,000
Total liabilities 5,705,063 5,334,256
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 10,405,439 and 10,407,389 shares, respectively



Treasury Stock, at cost; 27,818 and 23,544 shares, respectively (111,510) (102,388)
Additional paid-in capital 158,683,010 158,296,458
Accumulated deficit (130,325,527) (125,989,474)
Accumulated other comprehensive loss (88,413) (78,990)
Total Ocean Power Technologies, Inc. stockholders’ equity 28,167,965 32,136,013
Noncontrolling interest in Ocean Power Technologies (Australasia) Pty Ltd (55,768) (28,632)
Total equity 28,112,197 32,107,381
Total liabilities and stockholders’ equity $ 33,817,260 37,441,637

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