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Thursday, October 6, 2022

Ascent Solar Technologies, Inc. (OTCMKTS: ASTI) Big Reversal as Solar Pioneer Secures Favorable Funding, Signs Major Supply Contract & Looks to Up List to National Exchange

Ascent Solar Technologies, Inc. (OTCMKTS: ASTI) is making an explosive move up the charts in recent trading showing some green to investors who have endured many months of decline since the stock topped out at $0.097 in February. Volume has been increasing too and many speculators are accumulating at current levels. ASTI is ex Nasdaq and as we have reported many times these ex big boards have a long history of historic moves once trading in small caps especially the OTC bulletin board.  ASTI an early pioneer in Flexible Solar Modules could not be in a stronger position as Solar Energy is currently seeing an enormous global boost. The upcoming LISA-T demonstration, part of NASA’s Pathfinder Technology Demonstrator 4 CubeSat slated for launch in 2022, will also include Ascent’s flexible CIGS as part of its further photovoltaic experiment. 

There is a lot to get excited about on ASTI as the Company looks to affect a 5000 for 1 reverse stock split in order to meet the minimum bid requirements for a proposed up listing to the  NASDAQ Capital Market. Management has correctly predicted that a small, clean share structure on the NASDAQ would be significantly more attractive to investors that the current situation. As we have noted many times before when an established Company such as ASTI with award winning thin-film photovoltaic modules does a RS it almost always results in significant moves to the upside. Another indication of just how valuable ASTI solar technology is, is ASTI ability to raise money at very favorable terms and at significantly higher conversion prices than the current pps. In recent months ASTI has raised well over $15 million USD, delivered on a major supply contract and signed a JDA with TubeSolar AG that could results in $13.5 million in revenues. 

Ascent Solar Technologies, Inc. (OTCMKTS: ASTI) operating out of Thornton, Colorado is a developer of award winning thin-film photovoltaic modules with substrate materials that are more flexible, versatile and rugged than traditional solar panels. Ascent Solar modules can be directly integrated into consumer products and off-grid applications, as well as aerospace and building integrated applications. ASTI has won numerous awards including by recognized as one of Time Magazine’s Top 50 Inventions, recognized for developing CIGS (Copper-Indium-Gallium-Selenide) on a polyimide substrate by R&D 100, and was awarded R&D 100 award for the development of its MilPak solar blanket. Ascent owns a valuable intellectual property portfolio related to its solar patents and patents pending. ASTI an early pioneer in Flexible Solar Modules could not be in a stronger position as Solar Energy is currently seeing an enormous global boost.  

Ascent’s flexible, ultra-lightweight, monolithically-integrated photovoltaics (PV) is based on the copper-indium-gallium-selenium (CIGS) chemistry and will benefit various future missions, ranging from CubeSats, solar sails, and potentially missions to the moon and Mars. In order to obtain the necessary data to determine how flexible CIGS performs in the space environment, Ascent’s PV modules have been undergoing extensive evaluation for years, including protracted and demanding ground simulation test and, as a part of the 10th Materials International Space Station Experiment (MISSE-X) flight experiment aboard the International Space Station that was launched on November 17, 2018 for a duration of over one year. The upcoming LISA-T demonstration, part of NASA’s Pathfinder Technology Demonstrator 4 CubeSat slated for launch in 2022, will also include Ascent’s flexible CIGS as part of its further photovoltaic experiment. 

There is a consensus that RS is bad (underlined by ASTI steady drop since they announced the RS in November) and usually results in lower PPS as the result of panic selling etc., but if we really examine the issue we come to an entirely different conclusion. Yes, in almost all cases when a non-revenue, sub penny co with a history of dilution does another RS it almost always ends in more downside. And this is the only logical outcome; if management is doing a RS so they can continue to further dilute shareholders why would any shareholder not sell. At the other end of the spectrum when an established Company such as ASTI with award winning thin-film photovoltaic modules does a RS it almost always results in significant moves to the upside. Looking back at some RS I was watching years ago (I made this list in 2015); CTSO did a 25 for 1 RS on December 1, 2014 the stock opened after the RS at just over $4 a share and quickly ran to over $12 in 3 weeks. Another established Company RS recently was SIAF which did a 9.9 for 1 RS on December 16, 2014 the stock opened after the RS at just over $6 a share and was trading over $9 by the next day. Even if we look back farther and take MSLP (which had many similarities to ASTI when it traded for pennies) which did a 850 for 1 RS on November 26, 2012 opened after the RS at just over $4 and was trading over $12 a share within 6 months. 

In November Ascent Solar initiated the process for a proposed reverse stock split as part of a broader plan to position Ascent Solar for continued growth, including an eventual proposed up-listing onto the Nasdaq Capital Market. As detailed in the Company’s preliminary 14C information statement filed with the SEC on November 17, 2021, the Company’s board has approved a Reverse Split at a ratio of between 1-for-1,000 and 1-for-10,000, with the final ratio within such range and the timing of implementation to be determined by the board in its sole discretion. The Reverse Split is subject to regulatory review by the SEC and FINRA.  

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ASTI

ASTI reported it has filed its definitive 14C information statement relating to the Reverse Split with the SEC on November 29, 2021, and such information statement is currently being mailed to the Company’s stockholders. Subject to market conditions, the Company currently anticipates implementing a Reverse Split ratio of 1-for-5,000. The Company will not issue any fractional shares in connection with the Reverse Split. Any fractional shares result from the Reverse Split in a stockholder’s account will be rounded up to the nearest whole share. 

Following the implementation of the Reverse Split, the Company intends to apply to up-list its shares to the Nasdaq Capital Market. Any up-listing to Nasdaq will be conditioned on the Company satisfying the applicable Nasdaq listing criteria, and the review and approval of the Company’s application by Nasdaq. Management strongly believes that the Reverse Split is essential to continuing the Company’s turnaround process. As previously reported, Ascent was predominantly in a dormant status for much of 2020 due to financial constraints and COVID-19. Beginning in mid-2020, however, the Company engaged in several initiatives that assisted with the restructuring, recapitalization, and turnaround of Ascent Solar.  These initiatives included: 

  • Strengthened the Company’s board and management; 
  • Aligned with leading German agrivoltaic thin-film solar tube maker, TubeSolar AG, to secure a strategic $2.5M capital infusion in January 2021, as well as a long-term supply agreement in August 2021; 
  • Secured a $3M cash injection in March 2021 from a private investment fund at the fixed price of $0.04 per share; 
  • Converted $5.8M outstanding secured debt in March 2021 into Common Stock equity at a fixed price of $0.0345 per share; 
  • Completed delivery on a major supply contract in May 2021 with a developer of advanced unmanned, helium-filled airships; 
  • Being recognized for exceptional device stability during space flight experiments while also receiving an Innovation Award at the Defense TechConnect Conference; and, 
  • Recently completing a strategic capital raise of $10M from Ascent’s largest stakeholder at the fixed price of $0.015 per share. 

Management believes that Ascent Solar is poised to make strong operational advancements, having the ability to better focus on tooling upgrades and next generation tooling designs as well as sourcing and scaling to meet increasing demand for finished goods and bespoke solar products. 

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ASTI is making an explosive move up the charts in recent trading showing some green to investors who have endured many months of decline since the stock topped out at $0.097 in February. Volume has been increasing too and many speculators are accumulating at current levels. ASTI is ex Nasdaq and as we have reported many times these ex big boards have a long history of historic moves once trading in small caps especially the OTC bulletin board.  ASTI an early pioneer in Flexible Solar Modules could not be in a stronger position as Solar Energy is currently seeing an enormous global boost. The upcoming LISA-T demonstration, part of NASA’s Pathfinder Technology Demonstrator 4 CubeSat slated for launch in 2022, will also include Ascent’s flexible CIGS as part of its further photovoltaic experiment.  There is a lot to get excited about on ASTI as the Company looks to affect a 5000 for 1 reverse stock split in order to meet the minimum bid requirements for a proposed up listing to the  NASDAQ Capital Market. Management has correctly predicted that a small, clean share structure on the NASDAQ would be significantly more attractive to investors that the current situation. As we have noted many times before when an established Company such as ASTI with award winning thin-film photovoltaic modules does a RS it almost always results in significant moves to the upside. Another indication of just how valuable ASTI solar technology is, is ASTI ability to raise money at very favorable terms and at significantly higher conversion prices than the current pps. In recent months ASTI has raised well over $15 million USD, delivered on a major supply contract and signed a JDA with TubeSolar AG that could results in $13.5 million in revenues. We will be updating on ASTI as events unfold so make sure you are subscribed to Microcapdaily so you know what is going on with ASTI.

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Disclosure: we hold no position in ASTI either long or short and we have not been compensated for this article.

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