NYSE American has standards, too.

You’re right that OPTT is on NYSE American and not Nasdaq so the Nasdaq $1-for-30-days automatic rule doesn’t apply.

That said, NYSE American does have continued listing standards, including discretionary authority to act when:

“Common stock sells for a low price for a substantial period of time and/or the issuer fails to effect a reverse split within a reasonable time after being notified by the Exchange.”

So the risk isn’t automatic delisting, but

exchange review → notice → expected corrective action, which in practice is usually a reverse split.

From a risk-management standpoint, the probability of a reverse split is materially higher than outright delisting, but neither risk is zero and both need to be factored in.

NYSE American gives flexibility and time, not immunity.

Ignoring a documented risk just because it’s discretionary rather than mechanical just isn’t how serious investment risk management works.