New Risk • Jun 28
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 100% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (34% average weekly change). Earnings have declined by 4.4% per year over the past 5 years. Shareholders have been substantially diluted in the past year (100% increase in shares outstanding). Revenue is less than US$1m (kr2.2m revenue, or US$225k). Market cap is less than US$10m (kr43.9m market cap, or US$4.42m). Announcement • Jun 18
Ocean Sun AS Receives EU Funding Of NOK 2.1 Million As Part Of Isla Bonita Project Ocean Sun AS has been awarded EU funding of approximately NOK 2.1 million as part of the Isla Bonita project. The project aims to accelerate the transition towards sustainable, climate-resilient island communities by deploying and scaling innovative ocean- and water-related solutions. With an overall EU contribution of approximately EUR 13.5 million, the Isla Bonita project is coordinated by Plocan and brings together a broad consortium of research institutions, industry partners and public authorities to implement demonstration projects across several island regions in Europe. Ocean Sun will lead the La Palma demonstrator, a flagship initiative located at the port of Tazacorte in the Canary Islands. The demonstrator builds on the technical and operational learning from the BOOST project and represents the next step in Ocean Sun’s work to adapt floating solar technology for exposed coastal and island environments. The system will combine renewable energy from an Ocean Sun FPV installation with desalination technologies in an integrated solution. Located in the rough seas of La Palma, the 310 kWp FPV demonstrator will provide a relevant test site for further research, validation and operational improvement in exposed conditions. The integration with a desalination unit will also demonstrate a replicable model for island and coastal regions facing high electricity costs and water scarcity. Ocean Sun will be responsible for design and deployment of the floating solar system, implementation of an automated cleaning solution, and integration of a rainwater collection system for operational use. Ocean Sun’s allocated contribution is EUR 190,000 and excludes CAPEX related to the demonstrator. The EU support enables Ocean Sun and its partners to continue advancing floating solar in demanding marine environments, building on prior experience while further improving a solution already commercially available for island and resort markets seeking alternatives to expensive and volatile fossil fuels. Announcement • May 24
Ocean Sun AS has filed a Follow-on Equity Offering in the amount of NOK 20 million. Ocean Sun AS has filed a Follow-on Equity Offering in the amount of NOK 20 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 40,000,000
Price\Range: NOK 0.5
Transaction Features: Rights Offering 
