<SEC-DOCUMENT>0001493152-22-000723.txt : 20220110
<SEC-HEADER>0001493152-22-000723.hdr.sgml : 20220110
<ACCEPTANCE-DATETIME>20220107174641
ACCESSION NUMBER:		0001493152-22-000723
CONFORMED SUBMISSION TYPE:	424B5
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20220110
DATE AS OF CHANGE:		20220107

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ocean Power Technologies, Inc.
		CENTRAL INDEX KEY:			0001378140
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				222535818
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		424B5
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-250824
		FILM NUMBER:		22519122

	BUSINESS ADDRESS:	
		STREET 1:		28 ENGELHARD DRIVE
		STREET 2:		SUITE B
		CITY:			MONROE TOWNSHIP
		STATE:			NJ
		ZIP:			08831
		BUSINESS PHONE:		609-730-0400

	MAIL ADDRESS:	
		STREET 1:		28 ENGELHARD DRIVE
		STREET 2:		SUITE B
		CITY:			MONROE TOWNSHIP
		STATE:			NJ
		ZIP:			08831

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Ocean Power Technologies, INc.
		DATE OF NAME CHANGE:	20061012
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B5
<SEQUENCE>1
<FILENAME>form424b5.htm
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<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Filed
Pursuant to Rule 424(b)(5)</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Registration
No. 333-250824</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Supplement
No. 1 to Prospectus dated December 2, 2020</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="form424b5_001.jpg" ALT="" STYLE="height: 49px; width: 231px"></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Up
to $75,000,000</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shares
of Common Stock</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;This
supplement no. 1 dated January 7, 2022, or this supplement, supplements, modifies and supersedes, only to the extent indicated herein,
certain information contained in our prospectus dated December 2, 2020, which we refer to as the prospectus, relating to the offer and
sale, from time to time, of <FONT STYLE="background-color: white">shares of our common stock to or through A.G.P./Alliance Global Partners,
or A.G.P., acting as our sales agent, in accordance with the terms of </FONT>a <FONT STYLE="background-color: white">sales agreement
dated November 20, 2020 we entered into with A.G.P.</FONT> This supplement should be read in conjunction with, is not complete without,
and may not be delivered or utilized except in connection with, the prospectus, including all supplements thereto and documents incorporated
by reference therein. If there is any inconsistency between the information in the prospectus and this supplement, you should rely on
the information in this supplement. Any information that is modified or superseded in the prospectus shall not be deemed to constitute
a part of the prospectus, except as modified or superseded by this supplement.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
sales agreement with A.G.P. provides that we may issue and sell shares of our common stock having an aggregate gross sales price of up
to $100.0 million from time to time to or through A.G.P., acting as our sales agent. However, at the time that we filed the prospectus,
it was limited to up to $50.0 million. <FONT STYLE="background-color: white">We disclosed that </FONT>we would file a supplement to the
prospectus prior to making any sales of common stock under the sales agreement in excess of the amount of common stock covered by the
prospectus. As of the date of this prospectus, we have sold $50.0 million under the prospectus. We are filing this supplement to increase
the amount that we may issue and sell by $25.0 million, for an aggregate total of $75.0 million.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
common stock is listed on the NYSE American under the symbol &ldquo;OPTT.&rdquo; The last reported sale price of our common stock on
the NYSE American on January 5, 2022 was $1.48 per share.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Investing
in our common stock involves a high degree of risk. See &ldquo;Risk Factors&rdquo; in the prospectus and in our reports filed with the
Securities and Exchange Commission which are incorporated by reference therein for a discussion of information that should be considered
in connection with an investment in our common stock.</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Neither
the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined
if the prospectus, as supplemented by this supplement, is truthful or complete. Any representation to the contrary is a criminal offense.</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt"><B>A.G.P.</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>The
date of this supplement is January 7, 2022</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>Table
of Contents</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-family: Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><A HREF="#la_001">About
    this Prospectus SUPPLEMENT</A></FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">I</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; background-color: white">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><A HREF="#la_002">Prospectus
    Summary</A></FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">1</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><A HREF="#la_003">Risk
    Factors</A></FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">3</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; background-color: white">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><A HREF="#la_004">Use
    of Proceeds</A></FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">5</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><A HREF="#la_005">Dividend
    Policy</A></FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">5</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; background-color: white">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><A HREF="#la_006">DILUTION</A></FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">5</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><A HREF="#la_007">Description
    of Securities</A></FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">6</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; background-color: white">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><A HREF="#la_008">Plan
    of Distribution</A></FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">9</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><A HREF="#la_009">Legal
    Matters</A></FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">11</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; background-color: white">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><A HREF="#la_010">Experts</A></FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">11</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><A HREF="#la_011">Certain
    Documents Incorporated By Reference</A></FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">11</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; background-color: white">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><A HREF="#la_012">Where
    You Can Find More Information</A></FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">12</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; background-color: #CCEEFF">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><A HREF="#la_013">Cautionary
    Note Regarding Forward-Looking Statements</A></FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase">12</FONT></TD></TR>
  </TABLE>
<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="la_001"></A>About
This Prospectus Supplement</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
should assume that the information contained in this prospectus supplement is accurate only as of the date on the front of the applicable
document and that any information we have incorporated by reference into this prospectus supplement is accurate only as of the date of
the document incorporated by reference, regardless of the time of delivery of this prospectus supplement, or any sale of a security.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, we incorporate important information into this prospectus supplement by reference. You may obtain the information incorporated
by reference into this prospectus supplement without charge by following the instructions under &ldquo;Where You Can Find More Information&rdquo;
in this prospectus supplement. We urge you to carefully read this prospectus supplement and the information incorporated by reference
before buying any of the securities being offered under this prospectus supplement.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
the extent that any statement that we make in this prospectus supplement or any documents incorporated by reference herein or therein,
the statements made in this prospectus supplement will be deemed to modify or supersede those made in such documents incorporated by
reference herein or therein.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
should rely only on the information contained, or incorporated herein by reference, in this prospectus supplement. We have not authorized
anyone to provide you with different information. No dealer, salesperson or other person is authorized to give any information or to
represent anything not contained in this prospectus supplement. You should not rely on any unauthorized information or representation.
This prospectus supplement is an offer to sell only the securities offered hereby, and only under circumstances and in jurisdictions
where it is lawful to do so.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
prospectus supplement is part of a registration statement on Form S-3 (File No. 333-250824) we filed with the Securities and Exchange
Commission, or SEC, using a &ldquo;shelf&rdquo; registration process. Under this &ldquo;shelf&rdquo; process, we may sell from time to
time in one or more offerings up to $100,000,000 of our common stock, preferred stock, debt securities, warrants, depositary shares,
subscription rights, purchase contracts and units. The $75,000,000 of shares of common stock that may be offered, issued and sold under
this prospectus supplement is included in the $100,000,000 of securities that may be offered, issued and sold by us pursuant to our shelf
registration statement.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unless
expressly stated otherwise, all references in this prospectus supplement to &ldquo;we,&rdquo; &ldquo;us,&rdquo; &ldquo;our&rdquo; or
similar references mean Ocean Power Technologies, Inc. and its subsidiaries on a consolidated basis.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>&nbsp;</B></FONT></P>


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<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif"></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>&nbsp;</B></FONT></P>

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<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B><A NAME="la_002"></A>Prospectus
supplement Summary</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>This
summary highlights certain information about us, this offering and information appearing elsewhere in this prospectus supplement and
in the documents we incorporate by reference. This summary is not complete and does not contain all of the information that you should
consider before investing in our securities. To fully understand this offering and its consequences to you, you should read this entire
prospectus supplement carefully, including the information referred to under the heading &ldquo;Risk Factors&rdquo; in this prospectus
supplement on page 3, and the financial statements and other information incorporated by reference in this prospectus supplement when
making an investment decision. In this prospectus supplement, the terms &ldquo;we,&rdquo; &ldquo;us,&rdquo; and the &ldquo;company&rdquo;
refer to Ocean Power Technologies, Inc. and its subsidiaries.</I></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Our
Company </B></FONT></P>

<P STYLE="margin: 0pt 5.05pt 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are a marine power equipment, data solutions and consulting services provider. We control the design, manufacture, sales, installation,
operations and maintenance of our solutions and services while working closely with commercial, technical, and other development partners
that provide software, controls, mechatronics, sensors, integration services, and marine installation services. We believe our renewable
autonomous ocean solutions deliver power and data collection, analysis and communication in remote ocean environments, allowing users
to generate actionable intelligence and control certain equipment. Our mission and purpose are to provide intelligent maritime solutions
and services that enable safer and more productive ocean operations for the defense and security, offshore oil and gas, science and research,
and offshore wind markets. We achieve this through our proprietary, state-of-the-art technologies that are at the core of our clean and
renewable energy platforms upon which we offer our solutions and services as well as through working with select partners.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
continue to develop and commercialize our proprietary systems that generate electricity by harnessing the renewable energy of ocean waves
for our PowerBuoy&reg; (&ldquo;PB3&rdquo;), and solar power for our hybrid PowerBuoy&reg; (the &ldquo;hybrid&rdquo;). The PB3 uses proprietary
technologies that convert the kinetic energy created by the heaving motion of ocean waves into electricity. Our strategy includes developing
complete solutions and services, including cloud-based delivery systems for ocean data and predictive analytics to provide actionable
intelligence for our clients. Based on feedback from our current customers, discussions with potential customers in the defense and security,
offshore oil and gas, science and research, and offshore wind markets, as well as government applications in fishery protection and marine
protected areas, together with our market research and publicly available data, we believe that numerous markets have a direct need for
our solutions. Our recent projects have been in the offshore oil and gas and science and research industries. We believe there is an
increasing need for our products and services in areas such as fishery protection, offshore windfarm support, and maritime domain awareness
applications. We believe that having demonstrated the capability of our solutions, we can advance our product and services and gain further
adoption from our target markets. Our marketing efforts are focused on offshore locations that require a cost-efficient solution for
renewable, reliable, and persistent power and communications, either by supplying electric power to payloads that are integrated directly
with our product or located in its vicinity, such as on the seabed and in the water column. We believe we can become a leader in offshore
autonomous ocean wave power conversion technology which provides renewable power for offshore operations that were previously logistically
problematic and difficult to decarbonize.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
were incorporated under the laws of the State of New Jersey in April 1984 and began commercial operations in 1994. On April 23, 2007,
we reincorporated in Delaware. We are continuing to build upon our mission of connecting the oceans with those who operate and manage
the resource in that environment. We do this through our solutions offerings, that are based on our proprietary renewable power platforms
and engineering skills. Our solutions focus on three major services areas, Data as a Service, supported and enabled by Power as a Service,
and underpinned by our Strategic Consulting Services, which we expanded with the acquisition of 3dent Technology, LLC (&ldquo;3Dent&rdquo;),
in February 2021. Over the course of fiscal 2022, we intend to continue to grow our service sectors and develop, evolve, and strengthen
our solutions through internal developments, partnerships, and potential acquisitions. On November 15, 2021, the Company acquired all
of the outstanding equity interest of MAR. This acquisition immediately provided the Company with an established, innovative offshore
product line that features roaming capability that highly complements the Company&rsquo;s business strategy.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Founded
in 2004, MAR is the developer of Wave Adaptive Modular Vessel (WAM-V&reg;) technology, which enables roaming capabilities for uncrewed
equipment in waters around the world. MAR launched the first WAM-V in 2007 as a new vessel class with a mission to manufacture and deliver
to customers the most reliable and robust ASVs available on the market.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Corporate
Information</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
principal executive offices are located at 28 Engelhard Drive, Monroe Township, New Jersey 08831. Our telephone number is (609) 730-0400.
We were incorporated in New Jersey in 1984 and reincorporated in the State of Delaware in 2007. We maintain a website at www.oceanpowertechnologies.com
where general information about us is available. We are not incorporating the contents of the website into this prospectus supplement.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

</DIV>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<DIV STYLE="border: Black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif; padding-right: 0.1in; padding-left: 0.1in"><P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>The
Offering</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-family: Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 49%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Common
    stock offered by us</B></FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 49%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares
    of common stock having an aggregate offering price of up to $75,000,000, of which $50,000,000 have been sold as of the date of this
    prospectus supplement. The actual number of shares issued will vary depending on the sales price under this offering.</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Plan
                                            of Distribution</B></FONT></P>
    <P STYLE="margin: 0pt 0; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;At
    the market offering&rdquo; that may be made from time to time to or through our sales agent, A.G.P. See &ldquo;Plan of Distribution&rdquo;
    on page 9.</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Use
    of proceeds</B></FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    intend to use the net proceeds from this offering to build additional products and solutions to meet market demand, further advance
    the development of new products and solutions, engage in corporate development and merger and acquisition activities, for working
    capital needs, capital expenditures, repayment or refinancing of indebtedness, acquisitions, repurchases and redemptions of securities,
    and for other general corporate purposes. However, we will retain broad discretion over how the net proceeds are used. See &ldquo;Use
    of Proceeds.&rdquo;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Risk
    factors</B></FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investing
    in our securities involves a high degree of risk. You should carefully consider all of the information in this prospectus supplement
    and the documents incorporated by reference in this prospectus supplement. In particular, see &ldquo;Risk Factors&rdquo; beginning
    on page 3 of this prospectus supplement, and the other Risk Factors disclosed in the documents incorporated by reference.</FONT></TD></TR>
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    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NYSE
    American symbol</B></FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&ldquo;OPTT&rdquo;</FONT></TD></TR>
  </TABLE>
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<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

</DIV>

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<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="la_003"></A>RISK
FACTORS</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Investing
in our common stock involves substantial risk. You should carefully consider the risk factors disclosed below as well as those contained
in our most recent Annual Report on Form 10-K, which is incorporated by reference herein, as updated by our subsequent filings under
the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), and the other information contained in this prospectus
supplement before acquiring any of our common stock. These risks could have a material adverse effect on our business, results of operations
or financial condition and cause the value of our common stock to decline. You could lose all or part of your investment.</I></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>This
prospectus supplement also contain or incorporate by reference forward-looking statements that involve risks and uncertainties. Our actual
results could differ materially from those anticipated in the forward-looking statements as a result of certain factors, including the
risks faced by us described or incorporated by reference in this prospectus supplement. See &ldquo;Cautionary Note Regarding Forward-Looking
Statements.&rdquo;</I></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Risks
Related to our Common Stock and the Offering</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Historically,
our stock price has been volatile, and this is likely to continue; purchasers of our common stock could incur substantial losses as a
result.</I></B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Historically,
the market price of our common stock has fluctuated significantly, and we expect that this will continue. Purchasers of our common stock
could incur substantial losses relating to their investment in our stock as a result. The stock market in general has recently experienced
volatility that has often been unrelated or disproportionate to the operating performance of particular companies. These broad market
fluctuations could result in fluctuations in the price of our common stock, which could cause purchasers of our common stock to incur
substantial losses. The market price for our common stock may be influenced by many factors, including:</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.4in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-family: Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">developments
    in our business or with respect to our projects;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    success of competitive products or technologies;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">regulatory
    developments in the United States and foreign countries;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">developments
    or disputes concerning patents or other proprietary rights;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    recruitment or departure of key personnel;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">quarterly
    or annual variations in our financial results or those of companies that are perceived to be similar to us;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">market
    conditions in the conventional and renewable energy industries and issuance of new or changed securities analysts&rsquo; reports
    or recommendations; </FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    failure of securities analysts to cover our common stock or changes in financial estimates by analysts;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    inability to meet the financial estimates of analysts who follow our common stock;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">investor
    perception of our company and of our targeted markets; and </FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">general
    economic, political and market conditions.</FONT></TD></TR>
  </TABLE>
<P STYLE="margin: 0pt 0 0pt 39pt; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>The
market valuation of our business may fluctuate due to factors beyond our control and the value of the investment of our stockholders
may fluctuate correspondingly.</I></B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market valuation of energy and technology companies, such as us, frequently fluctuate due to factors unrelated to the past or present
operating performance of such companies. Our market valuation may fluctuate significantly in response to a number of factors, many of
which are beyond our control, including:</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-family: Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
    in securities analysts&rsquo; estimates of our financial performance;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fluctuations
    in stock market prices and volumes, particularly among securities of energy companies;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
    in market valuations of similar companies;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Announcements
    by us or our competitors of significant contracts, new technologies, acquisitions, commercial relationships, joint ventures or capital
    commitments;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Variations
    in our quarterly operating results;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fluctuations
    in commodity prices;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loss
    of a major customer of failure to complete significant commercial contracts;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loss
    of a relationship with a partner; and</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additions
    or departures of key personnel.</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
    a result, the value of your investment may fluctuate.</FONT></TD></TR>
  </TABLE>
<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Our
management will have broad discretion over the use of proceeds from this offering and may not use the proceeds effectively.</I></B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
management will have broad discretion as to the application of the net proceeds from this offering and could spend the proceeds in a
variety of ways that may ultimately fail to improve our operating results or enhance the value of our common stock. Our failure to apply
these funds effectively could have a negative effect on our business and cause the price of our common stock to decline.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>A
large number of shares may be sold in the market following this offering, which may depress the market price of our common stock.</I></B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
of our shares of common stock sold in the offering will be freely tradable without restriction or further registration under the Securities
Act of 1933, as amended (the &ldquo;Securities Act&rdquo;). As a result, a substantial number of our shares of common stock may be sold
in the public market following this offering, which may cause the market price of our common stock to decline. If there are more shares
of common stock offered for sale than buyers are willing to purchase, then the market price of our common stock may decline to a market
price at which buyers are willing to purchase the offered shares of common stock and sellers remain willing to sell the shares of common
stock.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>The
actual number of shares we will issue under the sales agreement, at any one time or in total, is uncertain.</I></B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subject
to certain limitations in the sales agreement and compliance with applicable law, we have the discretion to deliver a placement notice
to A.G.P. at any time and from time to time during the term of the sales agreement, as discussed in the &ldquo;Plan of Distribution&rdquo;
below. The actual number of shares common stock that are sold to or through A.G.P. on our behalf pursuant to any placement notice we
deliver to A.G.P. will depend on the market price of the common stock during the periods in which sales are made and any restrictions
or limitations applicable to such sales, such as a minimum price below which sales may not be made, that we may include in such placement
notice or that otherwise apply under the sales agreement. Because the price per share of each share of common stock sold will fluctuate
based on the market price of our common stock during the sales period, it is not possible at this stage to predict the number of shares
that will ultimately be issued. We may further supplement the prospectus to sell a total of $100,000,000 under the sales agreement, which
may cause the market price of our common stock to decline, as well as further dilution of the common stock you purchase in this offering.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>You
may experience immediate dilution in the book value per share of the common stock you purchase. </I></B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because
the price per share of our common stock being offered from time to time may be substantially higher than the book value per share of
our common stock at the time of the sale, you may suffer substantial dilution in the net tangible book value of the common stock you
purchase in this offering.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="la_004"></A>USE
OF PROCEEDS</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
amount of proceeds from this offering will depend upon the number of shares of our common stock sold to or through A.G.P. under the sales
agreement and the prices at which they are sold. There can be no assurance that we will be able to sell any additional shares of common
stock under the sales agreement with A.G.P. after the date of this prospectus supplement, or to what extent we will be able to utilize
the sales agreement. As of the date of this prospectus supplement, we have sold an aggregate of $50,000,000 of our shares of common stock
under the sales agreement.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
intend to use the net proceeds from this offering to build additional products and solutions to meet market demand, further advance the
development of new products and solutions, engage in corporate development and merger and acquisition activities, for working capital
needs, capital expenditures, repayment or refinancing of indebtedness, acquisitions, repurchases and redemptions of securities, and for
other general corporate purposes. The amounts and timing of these expenditures will depend on a number of factors, such as the timing,
scope, progress and results of our research and development efforts, the timing and progress of any partnering efforts, and the regulatory
and competitive environment. As of the date of this prospectus supplement, we have not determined the amount of net proceeds to be used
specifically for any particular purpose or the timing of any expenditures. Accordingly, management will retain broad discretion and flexibility
in applying the net proceeds from the sale of the securities, if any. Pending any use of the net proceeds from this offering, if any,
we intend to invest the net proceeds in repurchase contracts or deposit them in checking accounts at financial institutions.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 23.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B><A NAME="la_005"></A>Dividend
Policy</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have never declared or paid any cash dividends on our common stock, and we do not currently anticipate declaring or paying cash dividends
on our common stock in the foreseeable future. We currently intend to retain all of our future earnings, if any, to finance the growth
and development of our business. Any future determination relating to our dividend policy will be made at the discretion of our Board
of Directors and will depend on a number of factors, including future earnings, capital requirements, financial conditions, future prospects,
contractual restrictions and covenants and other factors that our Board of Directors may deem relevant.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B><A NAME="la_006"></A>DILUTION</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>&nbsp;</B></FONT></P>



<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in">If you invest
in this offering, your ownership interest will be diluted to the extent of the difference between the public offering price per share
and the as adjusted net tangible book value per share after giving effect to this offering. Our net tangible book value as of October
31, 2021, was approximately $72,511,000, or approximately $1.38 per share of common stock. Net tangible book value per share represents
the amount of total tangible assets (total assets less intangible assets) less total liabilities, divided by the number of shares of our
common stock outstanding as of October 31, 2021.</P>
<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in">

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>



<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in">Dilution
in net tangible book value per share represents the difference between the amount per share paid by purchasers in this offering and the
net tangible book value per share of our common stock immediately after this offering. After giving effect to the sale of an additional
16,891,892 shares of our common stock in this offering after the date of this prospectus supplement (based on an assumed offering price
of $1.48 per share, which was the closing price of our common stock on January 5, 2022), but excluding the sales agent discounts and commissions
and estimated offering expenses payable by us, our as adjusted net tangible book value as of October 31, 2021 would have been approximately
$95,991,000, or approximately $1.38 per share of common stock. This represents no immediate change in net tangible book value per share
of common stock to our existing stockholders and an immediate increase in net tangible book value of $0.10 per share of common stock to
investors in this offering. The actual amounts above are based on 52,478,011 shares outstanding as of October 31, 2021, and do not reflect
the exercise of warrants outstanding on common stock, the exercise of outstanding options to purchase shares of common stock and non-vested
restricted stock issued to employees in the computation as the effect would be anti-dilutive.</P>
<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in">

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B><A NAME="la_007"></A>Description
of Securities</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
this offering, we are offering shares of our common stock having an aggregate gross sales price of up to $75,000,000, including $50,000,000
of which we sold prior to the date of this prospectus supplement. <FONT STYLE="background-color: white">In the discussion that follows,
we have summarized selected provisions of our certificate of incorporation and bylaws. You should read our certificate of incorporation
and bylaws as currently in effect for more details regarding the provisions we describe below and for other provisions that may be important
to you. We have filed copies of those documents with the SEC, and they are incorporated by reference herein. Please read &ldquo;Where
You Can Find More Information.&rdquo;</FONT></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Authorized
and Outstanding Capital Stock</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following description of our common stock and provisions of our certificate of incorporation and bylaws are summaries and are qualified
by reference to our certificate of incorporation and bylaws, which have been incorporated by reference as exhibits to the registration
statement of which this prospectus supplement forms a part.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
authorized capital stock consists of 100,000,000 shares of common stock, par value $0.001 per share, and 5,000,000 shares of preferred
stock, par value $0.001 per share, all of which are undesignated.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of January 5, 2022, there were 55,873,173 shares of common stock outstanding, and no shares of preferred stock were issued or
outstanding. As of January 5, 2022, there also were outstanding options representing the right to purchase a total of 725,996
shares of common stock at a weighted average exercise price of approximately $3.23 per share.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description
of Common Stock</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Voting</I>.
Holders of common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders and do not have
cumulative voting rights. Accordingly, holders of a majority of the shares of common stock entitled to vote in any election of directors
may elect all of the directors standing for election.</FONT></P>

<P STYLE="margin: 0pt 4pt 0pt 2pt; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Dividends</I>.
Holders of common stock are entitled to receive proportionately any dividends that may be declared by our Board, subject to any preferential
dividend rights of outstanding preferred stock.</FONT></P>

<P STYLE="margin: 0pt 4pt 0pt 2pt; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Liquidation
and Distribution</I>. Upon our liquidation, dissolution or winding up, the holders of common stock are entitled to receive proportionately
our net assets available after the payment of all debts and other liabilities and subject to the prior rights of any outstanding preferred
stock. Holders of common stock have no preemptive, subscription, redemption or conversion rights. Our outstanding shares of common stock
are, and the shares offered by us in this offering will be, when issued and paid for, fully paid and nonassessable. The rights, preferences
and privileges of holders of common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any
series of preferred stock that we may designate and issue in the future.</FONT></P>

<P STYLE="margin: 0pt 4pt 0pt 2pt; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Anti-Takeover
Effects of Delaware Law; Our Certificate of Incorporation and Our Bylaws </B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delaware
law, our certificate of incorporation and our bylaws contain provisions that could have the effect of delaying, deferring or discouraging
another party from acquiring control of us. These provisions, which are summarized below, are intended to discourage coercive takeover
practices and inadequate takeover bids. These provisions are also designed to encourage persons seeking to acquire control of us to first
negotiate with our Board.</FONT></P>

<P STYLE="margin: 0pt 4pt 0pt 2pt; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Removal
of Directors </B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
certificate of incorporation currently provides that directors may be removed only for cause and only by the affirmative vote of the
holders of 75% of our shares of capital stock present in person or by proxy and entitled to vote. However, our Board of Directors approved
an amendment to our bylaws that became effective on June 17, 2016, which permits our directors to be removed either for cause or without
cause by our stockholders. At our annual meeting of stockholders for the year ended April 30, 2016 that was held on October 21, 2016
(the &ldquo;2016 Annual Meeting&rdquo;), we submitted a proposal to stockholders seeking stockholder approval to amend our certificate
of incorporation to delete the reference to &ldquo;for cause&rdquo; in Section 6 of Article IX of the certificate of incorporation. This
proposal to amend the certificate of incorporation did not receive the required affirmative vote of the holders of at least 75% of the
outstanding shares of common stock entitled to vote at the meeting, so the proposal did not pass. However, we also submitted a proposal
to stockholders at the 2016 Annual Meeting seeking approval to amend our certificate of incorporation to add a clause that specified
that, to the fullest extent permitted by law, any provision in the Certificate of Incorporation that is contrary to a requirement of
the Delaware General Corporate Law (the &ldquo;DGCL&rdquo;) shall be read in conformity with the applicable requirement of the DGCL.
This second proposal only required the affirmative vote of the holders of a majority of the outstanding shares of common stock entitled
to vote at the 2016 Annual Meeting, and it passed.</FONT></P>

<P STYLE="margin: 0pt 4pt 0pt 2pt; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Board of Directors takes the position that under current Delaware law, the &ldquo;only for cause&rdquo; provision in the certificate
of incorporation regarding removal of the company&rsquo;s directors is not enforceable and is therefore not in conformity with the applicable
requirement of the DGCL. Accordingly, we will comply with the provisions of our bylaws, as amended and as described above, relating to
director removal and will not seek to enforce that provision of our certificate of incorporation relating to stockholder removal of directors
only for cause, as presently in effect. Under our certificate of incorporation and bylaws, any vacancy on the Board, including a vacancy
resulting from an enlargement of the Board, may be filled only by vote of a majority of our directors then in office.</FONT></P>

<P STYLE="margin: 0pt 4pt 0pt 2pt; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
limitations on the ability of our stockholders to remove directors and fill vacancies could make it more difficult for a third party
to acquire, or discourage a third party from seeking to acquire, control of us.</FONT></P>

<P STYLE="margin: 0pt 4pt 0pt 2pt; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Stockholder
Action by Written Consent; Special Meetings </B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
certificate of incorporation provides that any action required or permitted to be taken by our stockholders must be effected at a duly
called annual or special meeting of such holders and may not be effected by any consent in writing by such holders. Our certificate of
incorporation and our bylaws also provide that, except as otherwise required by law, special meetings of our stockholders can only be
called by our chairman of the board, our chief executive officer, our president or the Board.</FONT></P>

<P STYLE="margin: 0pt 4pt 0pt 2pt; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Advance
Notice Requirements for Stockholder Proposals </B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
bylaws establish an advance notice procedure for stockholder proposals to be brought before an annual meeting of stockholders, including
proposed nominations of persons for election to the Board. Stockholders at an annual meeting may only consider proposals or nominations
specified in the notice of meeting or brought before the meeting by or at the direction of the Board of Directors or by a stockholder
of record on the record date for the meeting, that is entitled to vote at the meeting and that has delivered to our secretary a timely
written notice in proper form of the stockholder&rsquo;s intention to bring such business before the meeting. These provisions could
have the effect of delaying until the next stockholder meeting stockholder actions that are favored by the holders of a majority of our
outstanding voting securities.</FONT></P>

<P STYLE="margin: 0pt 4pt 0pt 2pt; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware
Business Combination Statute </B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are subject to Section 203 of the Delaware General Corporation Law. Subject to certain exceptions, Section 203 prevents a publicly held
Delaware corporation from engaging in a &ldquo;business combination&rdquo; with any &ldquo;interested stockholder&rdquo; for three years
following the date that the person became an interested stockholder, unless the interested stockholder attained such status with the
approval of our Board of Directors or unless the business combination is approved in a prescribed manner. A &ldquo;business combination&rdquo;
includes, among other things, a merger or consolidation involving us and the &ldquo;interested stockholder&rdquo; and the sale of more
than 10% of our assets. In general, an &ldquo;interested stockholder&rdquo; is any entity or person beneficially owning 15% or more of
our outstanding voting stock and any entity or person affiliated with or controlling or controlled by such entity or person.</FONT></P>

<P STYLE="margin: 0pt 4pt 0pt 2pt; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amendment
of Certificate of Incorporation and Bylaws </B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Delaware General Corporation Law provides generally that the affirmative vote of a majority of the shares entitled to vote on any matter
is required to amend a corporation&rsquo;s certificate of incorporation or bylaws, unless a corporation&rsquo;s certificate of incorporation
or bylaws, as the case may be, requires a greater percentage. Our bylaws may be amended or repealed by a majority vote of our Board of
Directors or the affirmative vote of the holders of at least 75% of the voting power of our capital stock issued and outstanding and
entitled to vote on the matter.</FONT></P>

<P STYLE="margin: 0pt 4pt 0pt 2pt; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Limitation
of Liability and Indemnification of Officers and Directors </B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
certificate of incorporation limits the personal liability of directors for breach of fiduciary duty to the maximum extent permitted
by the Delaware General Corporation Law. Our certificate of incorporation provides that no director will have personal liability to us
or to our stockholders for monetary damages for breach of fiduciary duty or other duty as a director. However, these provisions do not
eliminate or limit the liability of any of our directors:</FONT></P>

<P STYLE="margin: 0pt 4pt 0pt 2pt; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-family: Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">for
    any breach of their duty of loyalty to us or our stockholders; </FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">for
    acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law; </FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">for
    voting or assenting to unlawful payments of dividends or other distributions; or </FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">for
    any transaction from which the director derived an improper personal benefit. </FONT></TD></TR>
  </TABLE>
<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
amendment to or repeal of these provisions will not eliminate or reduce the effect of these provisions in respect of any act or failure
to act, or any cause of action, suit or claim that would accrue or arise prior to any amendment or repeal or adoption of an inconsistent
provision. If the Delaware General Corporation Law is amended to provide for further limitations on the personal liability of directors
of corporations, then the personal liability of our directors will be further limited to the greatest extent permitted by the Delaware
General Corporation Law.</FONT></P>

<P STYLE="margin: 0pt 4pt 0pt 2pt; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, our certificate of incorporation provides that we must indemnify our directors and officers and we must advance expenses, including
attorneys&rsquo; fees, to our directors and officers in connection with legal proceedings, subject to limited exceptions.</FONT></P>

<P STYLE="margin: 0pt 4pt 0pt 2pt; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Notice
of Share Ownership </B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
bylaws contain a provision requiring any beneficial owner of three percent or more of our outstanding common stock to notify us of his
or her stockholdings, as well as of any change in his or her beneficial ownership of one percent or more of our outstanding common stock.
Our bylaws do not provide for any specific remedy in the event a stockholder does not comply with this provision. We do not intend to
make any such information public, unless required by law or the rules of the SEC or the NYSE American.</FONT></P>

<P STYLE="margin: 0pt 4pt 0pt 2pt; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Authorized
but Unissued Shares </B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
authorized but unissued shares of common stock and preferred stock are available for future issuance without stockholder approval, subject
to any limitations imposed by the listing standards of the NYSE American. These additional shares may be used for a variety of corporate
finance transactions, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved common stock and
preferred stock could make it more difficult or discourage an attempt to obtain control of us by means of a proxy contest, tender offer,
merger or otherwise.</FONT></P>

<P STYLE="margin: 0pt 4pt 0pt 2pt; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Transfer
Agent and Registrar </B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
transfer agent and registrar for our common stock is Computershare Trust Company, N.A. Its address is 462 South 4th Street, Suite 1600,
Louisville, KY 40202, and its telephone number is 1-800-662-7232.</FONT></P>

<P STYLE="margin: 0pt 4pt 0pt 2pt; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
common stock is listed on NYSE American under the symbol &ldquo;OPTT.&rdquo; Our common stock was previously listed on the Nasdaq Capital
Market until June 2021, when the listing was transferred to the NYSE American.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="la_008"></A>PLAN
OF DISTRIBUTION</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 34pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have entered into the sales agreement with A.G.P. under which we may issue and sell shares of our common stock having an aggregate gross
sales price of up to $100,000,000 from time to time to or through A.G.P., acting as our sales agent. The sales of our common stock, if
any, under this prospectus supplement will be made at market prices by any method deemed to be an &ldquo;at the market offering&rdquo;
as defined in Rule 415(a)(4) under the Securities Act, including sales made directly on NYSE American, on any other existing trading
market for our common stock, or to or through a market maker.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
time that we wish to issue and sell shares of our common stock under the sales agreement, we will provide A.G.P. with a placement notice
describing the amount of shares to be sold, the time period during which sales are requested to be made, any limitation on the amount
of shares of common stock that may be sold in any single day, any minimum price below which sales may not be made or any minimum price
requested for sales in a given time period and any other instructions relevant to such requested sales. Upon receipt of a placement notice,
A.G.P., acting as our sales agent, will use commercially reasonable efforts, consistent with its normal trading and sales practices and
applicable state and federal laws, rules and regulations and the rules of NYSE American, to sell shares of our common stock under the
terms and subject to the conditions of the placement notice and the sales agreement. We or A.G.P. may suspend the offering of common
stock pursuant to a placement notice upon notice and subject to other conditions.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Settlement
for sales of common stock, unless the parties agree otherwise, will occur on the second trading day following the date on which any sales
are made in return for payment of the net proceeds to us. There are no arrangements to place any of the proceeds of this offering in
an escrow, trust or similar account. Sales of our common stock as contemplated in this prospectus supplement will be settled through
the facilities of The Depository Trust Company or by such other means as we and A.G.P. may agree upon.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will pay A.G.P. commissions for its services in acting as our sales agent in the sale of our common stock pursuant to the sales
agreement. A.G.P. will be entitled to compensation at a fixed commission rate of 3.25% of the gross proceeds from the sale of our
common stock on our behalf pursuant to the sales agreement. We agreed to reimburse A.G.P. for certain specified expenses incurred by
A.G.P., including the fees and disbursements of legal counsel to A.G.P. in connection with entering into the sales agreement in an
amount not to exceed $50,000, plus up to $10,000 per year for other expenses after the date of this prospectus supplement in
connection with its further periodic due diligence investigation of our company in connection with this offering. In addition, we
have agreed to reimburse A.G.P for additional fees and disbursements of its legal counsel in connection with this prospectus
supplement in an amount not to exceed $50,000. We estimate that the total expenses of the offering payable by us, excluding
discounts, commissions and reimbursements payable to A.G.P. under the sales agreement, will not exceed approximately $200,000. As of
the date of this prospectus supplement, we have paid an aggregate of approximately $1,625,000 in commissions to A.G.P. under the
sales agreement in connection with the sale of $50,000,000 in common stock to date thereunder. <FONT STYLE="background-color: white">The
remaining sales proceeds, after deducting any expenses payable by us and any transaction fees imposed by any governmental,
regulatory, or self-regulatory organization in connection with the sales, will equal our net proceeds for the sale of such common
stock.</FONT></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because
there are no minimum sale requirements as a condition to this offering, the actual total public offering price, commissions and net proceeds
to us, if any, are not determinable at this time. The actual dollar amount and number of shares of common stock we sell through this
prospectus supplement will be dependent, among other things, on market conditions and our capital raising requirements.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">We
will report at least quarterly the number of shares of common stock sold through A.G.P. under the sales agreement, the net proceeds to
us and the compensation paid by us to A.G.P. in connection with the sales of common stock under the sales agreement.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the sale of the common stock on our behalf, A.G.P. will be deemed to be an &ldquo;underwriter&rdquo; within the meaning
of the Securities Act, and the compensation of A.G.P. will be deemed to be underwriting commissions or discounts. We have agreed to provide
indemnification and contribution to A.G.P. against certain civil liabilities, including liabilities under the Securities Act.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.G.P.
will not engage in any market making activities involving our common stock while the offering is ongoing under this prospectus supplement
if such activity would be prohibited under Regulation M or other anti-manipulation rules under the Securities Act. <FONT STYLE="background-color: white">As
our sales agent, A.G.P. will not engage in any transactions that stabilizes our common stock.</FONT></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
offering pursuant to the sales agreement will terminate upon the earlier of (i) the sale of all shares of common stock subject to the
agreement and (ii) termination of the sales agreement as permitted therein. We may terminate the sales agreement in our sole discretion
at any time by giving 10 days&rsquo; prior notice to A.G.P. A.G.P. may terminate the sales agreement under the circumstances specified
in the sales agreement and in its sole discretion at any time by giving 10 days&rsquo; prior notice to us.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
sales agreement has been filed as an exhibit to a current report on Form 8-K that we filed with the Commission on <FONT STYLE="background-color: white">November
20, 2020 </FONT>in connection with this offering, as well as our most recent Annual Report on Form 10-K, and is incorporated into this
prospectus supplement by reference.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.G.P.
and its affiliates have provided, and may in the future provide, investment banking, commercial banking and other financial services
for us in the ordinary course of business, for which services that may in the future receive customary fees.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
prospectus supplement in electronic format may be made available on a website maintained by A.G.P., and A.G.P. may distribute this prospectus
supplement electronically.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif"></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="la_009"></A>LEGAL
MATTERS</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
validity of the securities being offered by this prospectus supplement and other legal matters concerning this offering will be passed
on for us by Porter Hedges LLP, Houston, Texas. A.G.P. is being represented in connection with this offering by Kelley Drye &amp; Warren
LLP, New York, New York.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="la_010"></A>EXPERTS</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
consolidated balance sheet of Ocean Power Technologies, and subsidiaries as of April 30, 2021 and the related consolidated statements
of operations, comprehensive loss, stockholders&rsquo; equity, and cash flows for the year then ended, have been audited by EisnerAmper
LLP, independent registered public accounting firm, as stated in their report, which is incorporated herein by reference. Such consolidated
financial statements have been incorporated herein by reference in reliance on the report of such firm given upon their authority as
experts in accounting and auditing.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
consolidated financial statements of Ocean Power Technologies, Inc. and subsidiaries (the Company) as of April 30, 2020, and for the
year then ended, have been incorporated by reference herein, in reliance upon the report of KPMG LLP, independent registered public accounting
firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
audit report covering the April 30, 2020 consolidated financial statements contains an explanatory paragraph that states that the Company&rsquo;s
recurring losses from operations and accumulated deficit raise substantial doubt about the Company&rsquo;s ability to continue as a going
concern. The consolidated financial statements do not include any adjustments that might result from the outcome of that uncertainty.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B><A NAME="la_011"></A>Certain
Documents Incorporated By Reference </B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following documents, which have previously been filed by us with the SEC under the Exchange Act, are incorporated herein by reference:</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-family: Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    Annual Report on <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221017188/form10-k.htm" STYLE="-sec-extract: exhibit">Form 10-K</A> for the fiscal year ended April 30, 2021, filed with the SEC on July 19, 2021 and our Annual Report on
    <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221021448/form10-ka.htm" STYLE="-sec-extract: exhibit">Form 10-K/A</A> filed with the SEC on August 27, 2021 (File No. 001-33417);</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    Quarterly Reports on Form 10-Q for the quarters ended <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1378140/000149315221022538/form10-q.htm" STYLE="-sec-extract: exhibit">July 31, 2021</A> and <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221031413/form10-q.htm" STYLE="-sec-extract: exhibit">October 31, 2021</A>, filed with the SEC on September 13, 2021
    and December 14, respectively (File No. 001-33417);</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    Current Reports on Form 8-K, filed with the SEC on <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221011086/form8-k.htm" STYLE="-sec-extract: exhibit">May 12, 2021</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221013224/form8-k.htm" STYLE="-sec-extract: exhibit">May 28, 2021</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221013783/form8-k.htm" STYLE="-sec-extract: exhibit">June 8, 2021</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221014799/form8-k.htm" STYLE="-sec-extract: exhibit">June 21, 2021</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221015051/form8-k.htm" STYLE="-sec-extract: exhibit">June 23, 2021</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221017088/form8-k.htm" STYLE="-sec-extract: exhibit">July 16, 2021</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221017205/form8-k.htm" STYLE="-sec-extract: exhibit">July 19, 2021</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221020370/form8-k.htm" STYLE="-sec-extract: exhibit">August 17, 2021</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221022547/form8-k.htm" STYLE="-sec-extract: exhibit">September 13, 2021</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221023600/form8-k.htm" STYLE="-sec-extract: exhibit">September 24, 2021</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221028854/form8-k.htm" STYLE="-sec-extract: exhibit">November 16, 2021</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221030659/form8k.htm" STYLE="-sec-extract: exhibit">December 7, 2021</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221031190/form8-k.htm" STYLE="-sec-extract: exhibit">December 13, 2021</A>
    and <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221031575/form8-k.htm" STYLE="-sec-extract: exhibit">December 15, 2021</A> (File No. 001-33417) (excluding any information furnished pursuant to Item 2.02 or Item 7.01 of any such Current
    Report on Form 8-K); </FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    Proxy Statement on <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000149315221025554/def14a.htm" STYLE="-sec-extract: exhibit">Schedule 14A</A>, filed with the SEC on October 15, 2021; and</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    description of our common stock set forth in our registration statement on <A HREF="https://www.sec.gov/Archives/edgar/data/1378140/000095012307005612/y257908ae8va12b.htm" STYLE="-sec-extract: exhibit">Form 8-A</A> filed on April 18, 2007 (File No. 001-33417)
    and in any and all subsequent amendments and reports filed for the purpose of updating that description. </FONT></TD></TR>
  </TABLE>
<P STYLE="margin: 0pt 0 0pt 1in; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
documents filed by us pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act (excluding any information furnished pursuant
to Item 2.02 or Item 7.01 on any current report on Form 8-K) after the date of the initial registration statement and prior to the effectiveness
of the registration statement and after the date of this prospectus supplement and prior to the termination of this offering shall be
deemed to be incorporated in this prospectus supplement by reference and to be a part hereof from the date of filing of such documents.
Any statement contained herein, or in a document incorporated or deemed to be incorporated by reference herein, shall be deemed to be
modified or superseded for purposes of this prospectus supplement to the extent that a statement contained herein or in any subsequently
filed document which also is or is deemed to be incorporated by reference herein, modifies or supersedes such statement. Any such statement
so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this prospectus supplement.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
may request a free copy of these filings, other than any exhibits, unless the exhibits are specifically incorporated by reference into
this prospectus supplement, by writing or telephoning us at the following address:</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ocean
Power Technologies, Inc.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">28
Engelhard Drive, Suite B</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Monroe
Township, NJ 08831</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention:
Chief Financial Officer</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(609)
730-0400</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B><A NAME="la_012"></A>Where
You Can Find More Information</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are subject to the informational requirements of the Exchange Act and in accordance therewith, file reports, proxy statements and other
information with the SEC. These reports, proxy statements and other information can be inspected and copied at the SEC&rsquo;s Public
Reference room at 100 F Street, N.E., Washington, D.C. 20549. The public may obtain information on the operation of the Public Reference
Room by calling the SEC at 1-800-SEC-0330. In addition, the SEC maintains an Internet site at www.sec.gov that contains reports, proxy
and information statements, and other information regarding issuers that file electronically with the SEC. We maintain a website at www.oceanpowertechnologies.com.
Information on our website or any other website is not incorporated by reference into this prospectus supplement and does not constitute
part of this prospectus supplement. Please note that information contained in our website, whether currently posted or posted in the
future, is not a part of this prospectus supplement or the documents incorporated by reference in this prospectus supplement.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B><A NAME="la_013"></A>Cautionary
Note Regarding Forward-Looking Statements</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
information discussed in this prospectus supplement, our filings with the SEC and our public releases include &ldquo;forward-looking
statements&rdquo; within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act. Forward-looking statements
are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among
those risks, trends and uncertainties are:</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-family: Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to commercialize our products, and achieve and sustain profitability;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    continued development of our proprietary technologies, and expected continued use of cash from operating activities unless or until
    we achieve positive cash flow from the commercialization of our products and services;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to obtain additional funding, as and if needed which will be subject to several factors, including market conditions, and
    our operating performance;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    impact of the COVID-19 pandemic on our business, operations, customers, suppliers and manufacturers and personnel;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">future
    acquisitions, which may use significant resources, may be unsuccessful or may expose us to unforeseen liabilities;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    estimates regarding expenses, future revenues, and capital requirements;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    adequacy of our cash balances and our need for additional financings;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to develop and manufacture commercially viable products;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to successfully develop and market new products;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">that
    we will be successful in our efforts to commercialize our products or the timetable upon which commercialization can be achieved,
    if at all;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to identify and penetrate markets for our products and our wave energy technology;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to implement our commercialization strategy as planned, or at all;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    relationships with our strategic partners may not be successful and we may not be successful in establishing additional relationships;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to maintain the listing of our common stock on the NYSE American;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    reliability of our technology, products and solutions;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to improve the power output, survivability and reliability of our products;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    impact of pending and threatened litigation on our business, financial condition and liquidity;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">changes
    in current legislation, regulations and economic conditions that affect the demand for renewable energy;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to compete effectively in our target markets;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    limited operating history and history of operating losses;</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    sales and marketing capabilities and strategy in the United States and internationally; and</FONT></TD></TR>
  <TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    ability to protect our intellectual property portfolio. </FONT></TD></TR>
  </TABLE>
<P STYLE="margin: 0pt 0 0pt 0.75in; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
forward-looking statements are identified by their use of terms and phrases such as &ldquo;expect,&rdquo; &ldquo;estimate,&rdquo; &ldquo;project,&rdquo;
&ldquo;plan,&rdquo; &ldquo;believe,&rdquo; &ldquo;achievable,&rdquo; &ldquo;anticipate&rdquo; and similar terms and phrases. Although
we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve certain assumptions, risks
and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result
of certain factors, including but not limited to the risks and uncertainties discussed in the section entitled &ldquo;Risk Factors&rdquo;
included elsewhere in this prospectus supplement and in the documents that we include in or incorporate by reference into this prospectus
supplement, including our Annual Report on Form 10-K for the fiscal year ended April 30, 2021 and our subsequent SEC filings.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary
statements in this section and elsewhere in this prospectus supplement and in the documents incorporated by reference. Other than as
required under the securities laws, we do not assume a duty to update these forward-looking statements, whether as a result of new information,
subsequent events or circumstances, changes in expectations or otherwise.</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: justify"></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="form424b5_001.jpg" ALT="" STYLE="height: 49px; width: 231px"></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Up
to $75,000,000</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares
of Common Stock</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center">&nbsp;</P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Prospectus
Supplement </B></FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt"><B>A.G.P.</B></FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>January
7, 2022</B></FONT></P>

<P STYLE="margin: 0pt 0 0pt 1in; font-family: Times New Roman, Times, Serif; text-align: center; text-indent: -1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0 0pt 1in; font-family: Times New Roman, Times, Serif; text-align: center; text-indent: -1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0 0pt 1in; font-family: Times New Roman, Times, Serif; text-align: center; text-indent: -1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0 0pt 1in; font-family: Times New Roman, Times, Serif; text-align: center; text-indent: -1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0 0pt 1in; font-family: Times New Roman, Times, Serif; text-align: center; text-indent: -1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

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<P STYLE="margin: 0pt 0 0pt 1in; font-family: Times New Roman, Times, Serif; text-align: center; text-indent: -1in"></P>

<P STYLE="margin: 0pt 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>&nbsp;</B></FONT></P>

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