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Friday, December 2, 2022

Ascent Solar Technologies, Inc. (OTCMKTS: ASTI) (ASTID) Looking to Break Back Over $10 Post 1-for-5,000 Reverse Split

Ascent Solar Technologies, Inc. (OTCMKTS: ASTI) has formed a solid base right at its all-time lows Split adjusted at $9 per share. This comes after the Company recently affected a 1-for-5,000 reverse stock split on January 28 temporarily putting the ticker at ASTID. The Company now plans 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 has correctly predicted that a small, clean share structure on the NASDAQ would be significantly more attractive to investors that the current situation. We have covered Bernd Förtsch and his ownership of ASTI extensively in previous articles see here. 

ASTI is ex NASDAQ and has a long has storied history of explosive moves since trading on the OTCQB. ASTI an early pioneer in Flexible Solar Modules and 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. 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) out of Thornton, Colorado is a developer of thin-film photovoltaic modules using flexible substrate materials that are more versatile and rugged than traditional solar panels.  Ascent Solar modules were named as one of the top 100 technologies by R&D Magazine, and one of TIME Magazine’s 50 best inventions. The technology described above represents the cutting edge of flexible power and can be directly integrated into consumer products and off-grid applications, as well as other aerospace applications. Ascent Solar is headquartered in Thornton, Colorado. 

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.  

In order to realize their goal of up listing back onto NASDAQ where they used to trade ASTI affected a 1-for-5,000 reverse stock split on January 28 and temporarily trades as ASTID. At the time of the reverse stock split the Company decreased the OS from approximately 23.74 billion pre-split shares to about 4.81 million post-split shares however as of today OTCMARKETS is showing 30.5 million shares outstanding. The number of authorized shares of the Company’s common stock decreased from 30 billion to 500 million common shares. 

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ASTID

 

Now that ASTI has affected 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.  

On January 28 ASTID announced the Company was selected by Momentus, Inc., a developer and manufacturer of novel ‘last mile’ space solutions, to produce customized flexible CIGS PV modules to provide power to a demonstration deployable PV array to fly on an upcoming Vigoride spacecraft—scheduled for flight in 2022. 

Management believes that the Company has done well to demonstrate its PV solutions as viable options for space and near-space endeavors.  On the heels of outstanding performances reported in the MISSE X experiment and at the 2021 SPRAT 26 conference, Ascent Solar has been working with Momentus to design deployable PV arrays. These deployable PV arrays, which use similar protective coating materials to build a nominally 71W laminated panel (AM0 25C) as a building block, includes all of the features desirable for a space product.  This includes (not limited to) zero-moment magnetic interaction, enhanced thermal management and bypass diodes laminated directly into the PV product. 

Ascent’s flexible, ultra-lightweight, monolithically-integrated photovoltaics (PV) are 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. 

Dr. Joseph Armstrong, Founding Team Member, Chief Technology and Chief Operating Officer of Ascent Solar said, “We have been working with a number of companies to develop our flexible, monolithically integrated CIGS product for various space applications. With the impending launch of the flight experiments by Momentus to validate the PV and deployment approaches, we envision providing a novel solution to the upcoming Vigoride™ mission, as well as future Ardoride missions. 

“The module developed by Ascent Solar and Momentus is designed for rapid integration into Momentus’ deployable PV array. We developed a customized monolithically-integrated submodule for their application to maximize the space utilization of the PV. We then integrated it into our laminated packaging with harnessing that cancels out all magnetic interaction with the current loops, and placed protective bypass diodes onto each circuit to make a truly robust building block for their deployable PV arrays. This is only the first generation of our basic space building block. We will continually look to improve it, especially to reduce the weight of the module.” 

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ASTI has formed a solid base right at its all-time lows Split adjusted at $9 per share. This comes after the Company recently affected a 1-for-5,000 reverse stock split on January 28 temporarily putting the ticker at ASTID. The Company now plans 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 has correctly predicted that a small, clean share structure on the NASDAQ would be significantly more attractive to investors that the current situation. ASTI is ex NASDAQ and has a long has storied history of explosive moves since trading on the OTCQB. ASTI an early pioneer in Flexible Solar Modules and 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. 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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