<SEC-DOCUMENT>0001104659-24-012496.txt : 20240209
<SEC-HEADER>0001104659-24-012496.hdr.sgml : 20240209
<ACCEPTANCE-DATETIME>20240209060154
ACCESSION NUMBER:		0001104659-24-012496
CONFORMED SUBMISSION TYPE:	DFAN14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240209
DATE AS OF CHANGE:		20240209

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ocean Power Technologies, Inc.
		CENTRAL INDEX KEY:			0001378140
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				222535818
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		DFAN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33417
		FILM NUMBER:		24610981

	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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Paragon Technologies, Inc.
		CENTRAL INDEX KEY:			0000090045
		STANDARD INDUSTRIAL CLASSIFICATION:	CONSTRUCTION, MINING & MATERIALS HANDLING MACHINERY & EQUIP [3530]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				221643428
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A

	BUSINESS ADDRESS:	
		STREET 1:		101 LARRY HOLMES DRIVE, STE 500
		CITY:			EASTON
		STATE:			PA
		ZIP:			18042
		BUSINESS PHONE:		6105594015

	MAIL ADDRESS:	
		STREET 1:		101 LARRY HOLMES DRIVE, STE 500
		CITY:			EASTON
		STATE:			PA
		ZIP:			18042

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PARAGON TECHNOLOGIES INC
		DATE OF NAME CHANGE:	20000420

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SI HANDLING SYSTEMS INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>DFAN14A
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<FILENAME>tm245741d1_dfan14a.htm
<DESCRIPTION>DFAN14A
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Washington, D.C. 20549</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Proxy Statement Pursuant to Section&nbsp;14(a)&nbsp;of the Securities
Exchange Act of 1934</B></P>

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

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    <TD STYLE="width: 30%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed by the Registrant</FONT></TD>
    <TD STYLE="width: 70%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
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    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed by a Party other than the Registrant</FONT></TD>
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  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD>Preliminary Proxy Statement</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD><B>Confidential, for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</B></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD>Definitive Proxy Statement</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD><TD>Definitive Additional Materials</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD>Soliciting Material under &sect;240.14a-12</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>OCEAN POWER TECHNOLOGIES,&nbsp;INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Registrant as Specified in Its Charter)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PARAGON TECHNOLOGIES,&nbsp;INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>HESHAM M. GAD</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SHAWN M. HARPEN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>JACK H. JACOBS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SAMUEL S. WEISER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Person(s)&nbsp;Filing Proxy Statement,
if other than the Registrant)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Payment of Filing Fee (Check all boxes that apply):</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD><TD>No fee required.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD>Fee paid previously with preliminary materials.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD>Fee computed on table in exhibit required by Item 25(b)&nbsp;per Exchange Act Rules&nbsp;14a-6(i)(1)&nbsp;and 0-11.</TD></TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On February 8, 2024, Paragon Technologies, Inc. issued a press release
relating to Ocean Power Technologies, Inc., a copy of which is set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Ocean Power Technologies Board Postpones
Annual Meeting for a Second Time After Failing Yet Again to Obtain Enough Shareholder Votes - Paragon Asks Shareholders to Make Your Voice
Heard by Disregarding OPT&rsquo;s White Proxy Card</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>EASTON, PA / ACCESSWIRE / February 8, 2024
/</B>&nbsp;Paragon Technologies, Inc. (&ldquo;Paragon&rdquo;), a diversified holding company, owning approximately 4.8% of the outstanding
shares of Ocean Power Technologies, Inc. (NYSE American:OPTT), (&ldquo;Company&rdquo;) (&ldquo;OPT&rdquo;), today issues the following
statement to OPT shareholders:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Yesterday, OPT&nbsp;<U>again</U>&nbsp;postponed
its annual meeting due to OPT&rsquo;s inability to obtain a quorum. Embarrassed and desperate, the Board now has delayed the annual meeting
for three weeks until February 28, 2024. Paragon is investigating whether OPT&rsquo;s adjournment is in violation of SEC rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Paragon Chairman and CEO Sham Gad states,
 &ldquo;OPT&rsquo;s continued failure to obtain a quorum for its &ldquo;2023&rdquo; annual meeting confirms the glaring disapproval from
shareholders related to OPT&rsquo;s atrocious financial results and self-serving board actions and reflects how out of touch OPT&rsquo;s
Board is from its shareholders - the rightful owners of the business.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Mr. Gad continues &ldquo;OPT shareholders
are simply sick and tired of seeing shareholder value decline every single day, nearly 90% since the appointment of Philip Stratmann as
CEO and a newly &lsquo;refreshed&rsquo; Board was assembled.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&ldquo;For years, individual shareholders
have been ignored by this Board as they continued to reward themselves with bonuses, free shares of stock, and salary increases while
shareholders watched the value of their investment in OPT evaporate,&rdquo; states Gad.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">To demonstrate the arrogance of this Board
and their disregard for their shareholders, OPT tells shareholders &ldquo;as time is short, shareholders are urged to protect their investment&hellip;by
voting for all of OPT&rsquo;s directors.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">So far, OPT&rsquo;s directors have protected
your investment by allowing it to decline by nearly 90%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Paragon urges OPT shareholders to continue
showing the OPT directors and executives that you are sick and tired of their self-serving ways and&nbsp;<U>ignore any and all messages
from OPT asking you to vote the white proxy card. Do not let this Board get away with another year of destroying shareholder value.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">We believe that the OPT Board has expended
millions of dollars of the Company&rsquo;s resources entrenching themselves and making misleading statements about Paragon to desperately
achieve a quorum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">And over the next three weeks, we believe
OPT will continue to expend a significant amount of the Company&rsquo;s resources in a desperate attempt to further entrench themselves
by telling shareholders misleading statements about the validity of Paragon&rsquo;s campaign.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">We urge shareholders to DISREGARD THE WHITE
PROXY from OPT and send a strong message that OPT&rsquo;s disastrous financial and share price performance under this current board and
CEO can no longer be accepted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">The definition of insanity is doing the same
thing over and over and expecting a different result.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Any vote for this current Board, given their
track record of destroying shareholder value, is the classic definition of insanity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B><U>If you have voted in ANY WAY on the
white proxy, you should revote the BLUE proxy to save your investment from a likely complete total loss.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B><U>If you have NOT YET VOTED, we urge to
ignore any and all calls or emails from OPT and completely disregard the white proxy.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Please email us at&nbsp;<U>ir@pgntgroup.com</U>&nbsp;with
any questions about how to vote your BLUE proxy card.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">We appreciate the support from shareholders
thus far. If shareholders have any questions, please contact our Proxy Solicitor, Alliance Advisors at:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">Alliance Advisors<BR>
200 Broadacres Drive, 3rd Floor<BR>
Bloomfield, NJ 07003<BR>
<B>Toll-Free Phone: 855-200-8651</B><BR>
<B>Email:&nbsp;OPTT@allianceadvisors.com</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>No matter how many shares you hold, we
would like to hear from you. Please email us at&nbsp;ir@pgntgroup.com&nbsp;if you need any help in voting your BLUE proxy.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">By voting on Paragon&rsquo;s BLUE universal
proxy card, you can send a message to OPT that you do not support their actions in relation to the Annual Meeting and attempting to block
the recognition of Paragon&rsquo;s nominees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">OPT has said that it will disregard proxy
votes in favor of Paragon&rsquo;s director nominees. Whether OPT may lawfully disregard Paragon&rsquo;s director nominees is an issue
that Paragon expects will be resolved by the Delaware courts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Stockholders should review the section of
Paragon&rsquo;s proxy statement titled &ldquo;Questions And Answers Relating To This Proxy Solicitation--Why is OPT saying it will disregard
Paragon&rsquo;s director nominations, and how does that impact proxies that stockholders provide to Paragon?&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white">###</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Paragon Technologies, Inc., together with
the other participants named herein, has filed with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) a definitive proxy
statement and an accompanying proxy card soliciting votes for the election of director nominees at the 2023 annual meeting of shareholders
of Ocean Power Technologies, Inc., a Delaware corporation (the &ldquo;company&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Paragon Technologies, Inc. is the beneficial
owner of 2,639,853 shares of common stock of the company, par value $0.001 per share (&ldquo;common stock&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Paragon Technologies, Inc., and Paragon&rsquo;s
director nominees Hesham M. Gad, Shawn M. Harpen, Jack H. Jacobs, and Samuel S. Weiser, are the participants in the proxy solicitation.
Mr. Gad, Executive Chairman of Paragon&rsquo;s Board of Directors and Chief Executive Officer of Paragon, and Messrs. Jacobs and Weiser,
directors of Paragon, may be deemed to beneficially own the shares of the company&rsquo;s common stock held by Paragon. Ms. Harpen does
not own beneficially or of record any securities of the company. Updated information regarding the participants and their direct and indirect
interests in the solicitation, by security holdings or otherwise, has been and will be included in Paragon&rsquo;s proxy statement and
other materials filed with the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">SHAREHOLDERS OF THE COMPANY SHOULD READ THE
PROXY STATEMENT AND OTHER PROXY MATERIALS CAREFULLY AND IN THEIR ENTIRETY AS THEY CONTAIN IMPORTANT INFORMATION RELATING TO THE COMPANY&rsquo;S
ANNUAL MEETING, PARAGON&rsquo;S SOLICITATION OF PROXIES AND PARAGON&rsquo;S NOMINEES TO THE BOARD. SUCH PROXY MATERIALS ARE AVAILABLE
AT NO CHARGE ON THE SEC&rsquo;S WEBSITE AT&nbsp;WWW.SEC.GOV&nbsp;OR FROM PARAGON TECHNOLOGIES, INC. REQUESTS FOR COPIES SHOULD BE DIRECTED
TO PARAGON&rsquo;S PROXY SOLICITOR.</P>

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

<P STYLE="margin: 0"></P>

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