Ascent Solar Technologies, Inc. (OTCMKTS:ASTI) has been trying to make a comeback since hitting new all-time lows of $0.0199 in recent trading. The stock has quickly emerged as a volume leader and one of the most exciting stocks on the entire exchange since hitting the OTC on February 26.
OTC speculators love ex big board stocks for their ready liquidity and proven ability to make spectacular moves once on the bb’s and ASTI certainly has potential; this is a company that manufactures battery and solar integrated phone cases designed for Apple and Samsung smartphones that recently announced a major breakthrough in power-to-weight ratio for its superlight solar module. Massive dilution has been the primary culprit here and the reason ASTI trades for pennies.
Ascent Solar Technologies, Inc. (OTCMKTS:ASTI) is a solar company that manufactures solar integrated consumer products as well as portable power charging solutions. ASTI products are sold through the brand name EnerPlex online, through retail and a network of kiosks.
ASTI is the developer of award winning thin-film CIGS solar modules that are more flexible, versatile and rugged than traditional solar panels. They use plastic as their substrate rather than glass that’s used by tradition rooftop solar panels. The Company diversified into consumer goods as they could not compete with the low-cost Chinese solar panels in the traditional electricity generating segment.
Last month ASTI announced it has achieved a major breakthrough in power-to-weight ratio for its superlight solar module, delivering over 1700 watts of power per kilogram, operating at AM0, technically known as the space environment. At this performance, Ascent’s superlight module would weigh 66% less than a comparable PV system using the highest-quality crystalline silicon and with far less design complexity. The elimination of two-thirds of the weight is a critical improvement for satellites, space vehicles and space stations.
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For space and near-space applications, power-to-weight ratio is a key performance metric. In addition to simplicity, our modules could dramatically impact cost. Depending on the application, such as low earth orbit all the way to manned flights, including contemplated missions to Mars, the fully burdened cost can be anywhere from thousands of dollars to $1 Million per pound for a space launch. By creating this superior module with the best power-to-weight ratio of any available product, Ascent has enabled entrance into the rapidly growing space and near space markets.
On May 12 ASTI reported results for the first quarter ended March 31, 2016. Total net revenue for the first quarter of 2016 was $710,000, compared to $658,000 reported for the same period last year, which was an increase of about 8%. More importantly, net revenue for the period included $687,000 of product sales, compared to $533,000 for the three months ended March 31, 2015, representing a healthy increase of $154,000, or approximately 29%. The increase in product sales is a result of the Company’s expanded sales channels, growing acceptance of its product offerings, and increased recognition of the EnerPlex brand. Revenue from government research and development contracts decreased by $101,000 during the three months ended March 31, 2016 to $23,000.
CEO Victor Lee said “While we are not satisfied with the results after a strong fourth quarter reported in 2015, we are certainly in a much better position to further execute our growth plan in 2016. Given the continuous expansion of our retail footprint, particularly with the recently announced increased penetration of our distribution effort into more than 1,000 Verizon Wireless authorized retail stores, we remain optimistic on the opportunities ahead for growth.”
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Currently trading at a $5 million market valuation ASTI is on exciting story in small caps that would be trading on the NASDAQ for multiple dollars a share if it were not for the massive dilution that has continued to plague shareholders. The Company recently completed a $7 million designated Series F 7% Convertible Preferred Stock offering to existing investor Redwood Management LLC. Once dilution is over there is a ton to get excited about here; ASTI manufactures battery and solar integrated phone cases designed for Apple and Samsung smartphones. Everyone knows these ex big board stocks have a long history of big moves once on the bb’s and ASTI has all the elements in place to do just that. 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.