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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ascent Solar Technologies Inc (PK) | USOTC:ASTI | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 10.00 | 9.60 | 11.00 | 0.00 | 01:00:00 |
x
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
o
|
TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
|
|
20-3672603
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer
Identification No.)
|
|
|
|
12300 Grant Street, Thornton, CO
|
|
80241
|
(Address of principal executive offices)
|
|
(Zip Code)
|
Large accelerated filer
|
|
o
|
|
Accelerated filer
|
|
o
|
|
|
|
|
|||
Non-accelerated filer
|
|
o
(Do not check if a smaller reporting company)
|
|
Smaller reporting company
|
|
x
|
|
|
|
|
Emerging growth company
|
|
o
|
|
|
|
|
||
Item 1.
|
||
|
||
|
||
|
||
|
||
Item 2.
|
||
Item 3.
|
||
Item 4.
|
||
|
||
Item 1.
|
||
Item 1A.
|
||
Item 2.
|
||
Item 3.
|
||
Item 4.
|
||
Item 5.
|
||
Item 6.
|
||
ASCENT SOLAR TECHNOLOGIES, INC.
|
||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS
|
||||||||
|
||||||||
|
|
March 31,
2018 |
|
December 31,
2017 |
||||
ASSETS
|
|
(Unaudited)
|
|
|
||||
Current Assets:
|
|
|
|
|
||||
Cash and cash equivalents
|
|
$
|
88,111
|
|
|
$
|
89,618
|
|
Trade receivables, net of allowance for doubtful accounts of $35,251 and $48,201, respectively
|
|
13,984
|
|
|
6,658
|
|
||
Inventories, net
|
|
1,074,319
|
|
|
1,037,854
|
|
||
Prepaid expenses and other current assets
|
|
520,944
|
|
|
494,425
|
|
||
Total current assets
|
|
1,697,358
|
|
|
1,628,555
|
|
||
Property, Plant and Equipment
|
|
36,645,862
|
|
|
36,645,862
|
|
||
Less accumulated depreciation and amortization
|
|
(32,072,422
|
)
|
|
(32,013,686
|
)
|
||
|
|
4,573,440
|
|
|
4,632,176
|
|
||
Other Assets:
|
|
|
|
|
||||
Patents, net of accumulated amortization of $440,805 and $430,071, respectively
|
|
1,376,785
|
|
|
1,470,796
|
|
||
Other non-current assets
|
|
42,875
|
|
|
49,813
|
|
||
|
|
1,419,660
|
|
|
1,520,609
|
|
||
Total Assets
|
|
$
|
7,690,458
|
|
|
$
|
7,781,340
|
|
LIABILITIES AND STOCKHOLDERS’ DEFICIT
|
|
|
|
|
||||
Current Liabilities:
|
|
|
|
|
||||
Accounts payable
|
|
$
|
1,901,411
|
|
|
$
|
1,600,455
|
|
Related party payables
|
|
208,754
|
|
|
202,827
|
|
||
Accrued expenses
|
|
2,094,885
|
|
|
1,623,748
|
|
||
Notes payable
|
|
1,567,731
|
|
|
1,570,231
|
|
||
Current portion of long-term debt
|
|
349,092
|
|
|
343,395
|
|
||
Current portion of secured promissory note, net of discount of $2,595,172 and $1,934,304, respectively
|
|
822,978
|
|
|
253,590
|
|
||
Promissory Notes, net of discount of $15,000 and $20,626, respectively
|
|
984,437
|
|
|
948,811
|
|
||
October 2016 convertible notes
|
|
330,000
|
|
|
330,000
|
|
||
St. George convertible note, net of discount and cash payment premium of $528,975 and $673,241, respectively
|
|
1,101,858
|
|
|
1,032,592
|
|
||
BayBridge convertible note, net of discount of $423,750 and $565,000, respectively
|
|
36,250
|
|
|
—
|
|
||
Embedded derivative liabilities
|
|
8,109,081
|
|
|
6,406,833
|
|
||
Total current liabilities
|
|
17,506,477
|
|
|
14,312,482
|
|
||
|
|
|
|
|
||||
Long-term debt, net of current portion
|
|
5,028,985
|
|
|
5,118,424
|
|
||
Long-term secured promissory note, net of current portion, and net of discount of $1,454,595 and $1,684,267, respectively
|
|
30,603
|
|
|
685,066
|
|
||
Accrued Warranty Liability
|
|
51,358
|
|
|
57,703
|
|
||
|
|
|
|
|
||||
Commitments and Contingencies
|
|
|
|
|
||||
|
|
|
|
|
||||
Mezzanine Equity:
|
|
|
|
|
||||
Series K preferred stock: 20,000 shares authorized; 2,810 issued and outstanding, respectively
|
|
2,810,000
|
|
|
2,810,000
|
|
||
|
|
|
|
|
||||
Stockholders’ Deficit:
|
|
|
|
|
||||
Series A preferred stock, $.0001 par value; 750,000 shares authorized; 60,756 shares issued and outstanding, respectively ($776,845 and $761,864 Liquidation Preference)
|
|
6
|
|
|
6
|
|
||
Common stock, $0.0001 par value, 20,000,000,000 shares authorized; 12,738,048,718 and 9,606,597,777 shares issued and outstanding, respectively
|
|
1,273,809
|
|
|
960,660
|
|
||
Additional paid in capital
|
|
387,917,742
|
|
|
386,332,475
|
|
||
Accumulated deficit
|
|
(406,928,522
|
)
|
|
(402,495,476
|
)
|
||
Total stockholders’ deficit
|
|
(17,736,965
|
)
|
|
(15,202,335
|
)
|
||
Total Liabilities, Mezzanine Equity and Stockholders’ Deficit
|
|
$
|
7,690,458
|
|
|
$
|
7,781,340
|
|
|
|
For the Three Months Ended
|
|
||||||
|
|
March 31,
|
|
||||||
|
|
2018
|
|
2017
|
|
||||
|
|
|
|
|
|
||||
Revenues
|
|
$
|
377,511
|
|
|
$
|
280,603
|
|
|
|
|
|
|
|
|
||||
Costs and Expenses:
|
|
|
|
|
|
||||
Cost of revenues (exclusive of depreciation shown below)
|
|
273,028
|
|
|
1,492,841
|
|
|
||
Research, development and manufacturing operations (exclusive of depreciation shown below)
|
|
1,173,035
|
|
|
1,276,865
|
|
|
||
Inventory impairment costs
|
|
—
|
|
|
363,758
|
|
|
||
Selling, general and administrative (exclusive of depreciation shown below)
|
|
934,591
|
|
|
1,764,230
|
|
|
||
Depreciation and amortization
|
|
101,712
|
|
|
371,653
|
|
|
||
Total Costs and Expenses
|
|
2,482,366
|
|
|
5,269,347
|
|
|
||
Loss from Operations
|
|
(2,104,855
|
)
|
|
(4,988,744
|
)
|
|
||
|
|
|
|
|
|
||||
Other Income/(Expense)
|
|
|
|
|
|
||||
Other Income/(Expense), net
|
|
—
|
|
|
728,485
|
|
|
||
Interest expense
|
|
(1,343,730
|
)
|
|
(1,991,352
|
)
|
|
||
Change in fair value of derivatives and gain/(loss) on extinguishment of liabilities, net
|
|
(984,461
|
)
|
|
673,078
|
|
|
||
Total Other Income/(Expense)
|
|
(2,328,191
|
)
|
|
(589,789
|
)
|
|
||
Net Loss
|
|
$
|
(4,433,046
|
)
|
|
$
|
(5,578,533
|
)
|
|
|
|
|
|
|
|
||||
Net Loss Per Share (Basic and diluted)
|
|
$
|
(0.0004
|
)
|
|
$
|
(0.0033
|
)
|
|
Weighted Average Common Shares Outstanding (Basic and diluted)
|
|
10,996,378,097
|
|
|
1,665,310,868
|
|
|
ASCENT SOLAR TECHNOLOGIES, INC.
|
|||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|||||||||
(Unaudited)
|
|||||||||
|
|||||||||
|
|
three months ended
|
|
||||||
|
|
March 31,
|
|
||||||
|
|
2018
|
|
2017
|
|
||||
Operating Activities:
|
|
|
|
|
|
||||
Net loss
|
|
$
|
(4,433,046
|
)
|
|
$
|
(5,578,533
|
)
|
|
Adjustments to reconcile net loss to net cash used in operating activities:
|
|
|
|
||||||
Depreciation and amortization
|
|
101,712
|
|
|
371,653
|
|
|
||
Share based compensation
|
|
14,324
|
|
|
79,737
|
|
|
||
Realized gain on sale of assets
|
|
—
|
|
|
(1,205,663
|
)
|
|
||
Amortization of financing costs to interest expense
|
|
3,333
|
|
|
35,164
|
|
|
||
Non-cash interest expense
|
|
222,648
|
|
|
575,015
|
|
|
||
Amortization of debt discount
|
|
1,011,109
|
|
|
1,474,135
|
|
|
||
Bad debt expense
|
|
—
|
|
|
4,082
|
|
|
||
Accrued litigation settlement
|
|
—
|
|
|
(143,266
|
)
|
|
||
Write-down of inventory
|
|
—
|
|
|
363,758
|
|
|
||
Write down of patents
|
|
59,153
|
|
|
—
|
|
|
||
Warranty reserve
|
|
(6,345
|
)
|
|
(7,489
|
)
|
|
||
Change in fair value of derivatives and (gain)/loss on extinguishment of liabilities, net
|
|
984,461
|
|
|
(673,078
|
)
|
|
||
Inducement conversion costs
|
|
—
|
|
|
407,974
|
|
|
||
Changes in operating assets and liabilities:
|
|
||||||||
Accounts receivable
|
|
(1,326
|
)
|
|
533,822
|
|
|
||
Inventories
|
|
(36,465
|
)
|
|
899,915
|
|
|
||
Prepaid expenses and other current assets
|
|
(29,852
|
)
|
|
394,550
|
|
|
||
Accounts payable
|
|
244,975
|
|
|
(249,691
|
)
|
|
||
Related party payable
|
|
5,927
|
|
|
—
|
|
|
||
Accrued expenses
|
|
364,648
|
|
|
56,721
|
|
|
||
Net cash used in operating activities
|
|
(1,494,744
|
)
|
|
(2,661,194
|
)
|
|
||
Investing Activities:
|
|
|
|
|
|
||||
Proceeds from the sale of assets
|
|
—
|
|
|
150,000
|
|
|
||
Patent activity costs
|
|
(6,502
|
)
|
|
(19,275
|
)
|
|
||
Net cash provided by/(used in) investing activities
|
|
(6,502
|
)
|
|
130,725
|
|
|
||
Financing Activities:
|
|
|
|
|
|
||||
Proceeds from issuance of debt
|
|
1,530,000
|
|
|
2,340,000
|
|
|
||
Proceeds from issuance of stock
|
|
—
|
|
|
150,000
|
|
|
||
Payment of debt financing costs
|
|
—
|
|
|
(42,500
|
)
|
|
||
Repayment of debt
|
|
(30,261
|
)
|
|
—
|
|
|
||
Net cash provided by financing activities
|
|
1,499,739
|
|
|
2,447,500
|
|
|
||
Net change in cash and cash equivalents
|
|
(1,507
|
)
|
|
(82,969
|
)
|
|
||
Cash and cash equivalents at beginning of period
|
|
89,618
|
|
|
130,946
|
|
|
||
Cash and cash equivalents at end of period
|
|
$
|
88,111
|
|
|
$
|
47,977
|
|
|
Supplemental Cash Flow Information:
|
|
|
|
|
|
||||
Cash paid for interest
|
|
$
|
106,617
|
|
|
$
|
20,415
|
|
|
Cash paid for income taxes
|
|
—
|
|
|
—
|
|
|
||
Non-Cash Transactions:
|
|
|
|
|
|
||||
Non-cash conversions of convertible notes and preferred stock
|
|
$
|
1,430,000
|
|
|
$
|
1,699,731
|
|
|
Interest converted to principal
|
|
$
|
96,120
|
|
|
$
|
—
|
|
|
Initial derivatives
|
|
$
|
1,151,162
|
|
|
$
|
—
|
|
|
Make-whole dividend
|
|
$
|
—
|
|
|
$
|
257,152
|
|
|
Accounts payable converted to notes payable
|
|
$
|
—
|
|
|
$
|
1,172,026
|
|
|
|
|
As of March 31,
|
|
As of December 31,
|
||||
|
|
2018
|
|
2017
|
||||
Building
|
|
$
|
5,828,960
|
|
|
$
|
5,828,960
|
|
Furniture, fixtures, computer hardware and computer software
|
|
489,421
|
|
|
489,421
|
|
||
Manufacturing machinery and equipment
|
|
30,327,481
|
|
|
30,327,481
|
|
||
Property, plant and equipment
|
|
36,645,862
|
|
|
36,645,862
|
|
||
Less: Accumulated depreciation and amortization
|
|
(32,072,422
|
)
|
|
(32,013,686
|
)
|
||
Net property, plant and equipment
|
|
$
|
4,573,440
|
|
|
$
|
4,632,176
|
|
|
|
As of March 31,
|
|
As of December 31,
|
||||
|
|
2018
|
|
2017
|
||||
Raw materials
|
|
$
|
695,474
|
|
|
$
|
688,904
|
|
Work in process
|
|
5,106
|
|
|
11,878
|
|
||
Finished goods
|
|
373,739
|
|
|
337,072
|
|
||
Total
|
|
$
|
1,074,319
|
|
|
$
|
1,037,854
|
|
|
|
||
2018
|
$
|
259,654
|
|
2019
|
366,757
|
|
|
2020
|
391,709
|
|
|
2021
|
418,358
|
|
|
2022
|
446,821
|
|
|
Thereafter
|
3,494,778
|
|
|
|
$
|
5,378,077
|
|
Closing Date
|
Closing Amount
|
Maturity Date
|
||
11/30/2017
|
$
|
250,000
|
|
11/30/2018
|
12/28/2017
|
$
|
250,000
|
|
12/28/2018
|
1/11/2018
|
$
|
250,000
|
|
1/11/2019
|
1/25/2018
|
$
|
250,000
|
|
1/25/2019
|
2/8/2018
|
$
|
250,000
|
|
2/8/2019
|
2/21/2018
|
$
|
250,000
|
|
2/21/2019
|
3/7/2018
|
$
|
250,000
|
|
3/7/2019
|
3/21/2018
|
$
|
250,000
|
|
3/21/2019
|
1)
|
The first valuation was done on the November 30, 2017 Note with term of
three
years. The derivative value of this note was
$3,742,002
as of
December 31, 2017
.
|
1)
|
The second valuation was done on the group of Notes dated November 30, 2017, that had a term of
one
year. The derivative value of this group of notes was
$888,168
as of
December 31, 2017
.
|
2)
|
The third valuation was done on the Note dated December 28, 2017, which had a term of
one
year. The derivative value of this note was
$267,008
on
December 31, 2017
.
|
3)
|
For the Notes dated in the first quarter of
2018
, we did a fourth valuation. Although the notes were entered into at various dates, we used a weighted average issuance date of
February 15, 2018
for a combined valuation purpose. Management's analysis, using the following assumptions: annual volatility of
54%
present value discount rate of
12%
and a dividend yield of
0%
, resulted in a fair value of the embedded derivative associated with these Notes of
$1,151,162
as of
February 15, 2018
. The value of the embedded derivative associated with these Notes was recorded as a debt discount.
|
1)
|
For the November 30, 2017 3yr Note: Management conducted a fair value assessment with the following assumptions: annual volatility of
64%
present value discount rate of
12%
and a dividend yield of
0%
as of
March 31, 2018
. As a result of the fair value assessment, the Company recorded a gain of
$612,155
as "Change in fair value of derivatives and gain/(loss) on extinguishment of liabilities, net" in the Consolidated Statements of Operations to properly reflect the fair value of the embedded derivative of
$3,129,847
as of
March 31, 2018
.
|
2)
|
For the November 30, 2017 1yr Notes: Management conducted a fair value assessment with the following assumptions: annual volatility of
52%
present value discount rate of
12%
and a dividend yield of
0%
as of
March 31, 2018
. As a result of the fair value assessment, the Company recorded a gain of
$174,989
as "Change in fair value of derivatives and gain/(loss) on extinguishment of liabilities, net" in the Consolidated Statements of Operations to properly reflect the fair value of the embedded derivative of
$713,179
as of
March 31, 2018
.
|
3)
|
For the December 28, 2017 1yr Note: Management conducted a fair value assessment with the following assumptions: annual volatility of
52%
present value discount rate of
12%
and a dividend yield of
0%
as of
March 31, 2018
. As a result of the fair value assessment, the Company recorded a gain of
$78,871
as "Change in fair value of derivatives and gain/(loss) on extinguishment of liabilities, net" in the Consolidated Statements of Operations to properly reflect the fair value of the embedded derivative of
$188,137
as of
March 31, 2018
.
|
4)
|
For the first quarter
2018
1yr Notes: Management conducted a fair value assessment with the following assumptions: annual volatility of
52%
present value discount rate of
12%
and a dividend yield of
0%
as of
March 31, 2018
. As a result of the fair value assessment, the Company recorded a loss of
$878,973
as "Change in fair value of derivatives and gain/(loss) on extinguishment of liabilities, net" in the Consolidated Statements of Operations to properly reflect the fair value of the embedded derivative of
$2,030,135
as of
March 31, 2018
.
|
Conversion Period
|
Preferred Series K Shares Converted
|
Value of Series K Preferred Shares
|
Common Shares Issued
|
||||
Q2 2017
|
3,200
|
|
$
|
3,200,000
|
|
800,000,000
|
|
Q3 2017
|
3,000
|
|
$
|
3,000,000
|
|
750,000,000
|
|
|
6,200
|
|
$
|
6,200,000
|
|
1,550,000,000
|
|
Preferred Stock Series Designation
|
Shares Outstanding
|
|
Series A
|
60,756
|
|
Series K
|
2,810
|
|
|
Warrant
Shares |
Warrant
Weighted Average Exercise Price |
|||
Outstanding at December 31, 2016
|
—
|
|
$
|
—
|
|
Granted
|
700,000,000
|
|
$
|
0.003
|
|
Exercised
|
—
|
|
$
|
—
|
|
Canceled
|
—
|
|
$
|
—
|
|
Outstanding at December 31, 2017
|
700,000,000
|
|
$
|
0.003
|
|
Granted
|
—
|
|
$
|
—
|
|
Exercised
|
—
|
|
$
|
—
|
|
Canceled
|
—
|
|
$
|
—
|
|
Outstanding at March 31, 2018
|
700,000,000
|
|
$
|
0.003
|
|
Exercisable at March 31, 2018
|
700,000,000
|
|
$
|
0.003
|
|
|
|
For the three months ended March 31,
|
|
||||||
|
|
2018
|
|
2017
|
|
||||
Share-based compensation cost included in:
|
|
|
|
|
|
||||
Research and development
|
|
$
|
454
|
|
|
$
|
16,610
|
|
|
Selling, general and administrative
|
|
13,870
|
|
|
63,127
|
|
|
||
Total share-based compensation cost
|
|
$
|
14,324
|
|
|
$
|
79,737
|
|
|
|
|
For the three months ended March 31,
|
|
||||||
|
|
2018
|
|
2017
|
|
||||
Type of Award:
|
|
|
|
|
|
||||
Stock Options
|
|
$
|
14,324
|
|
|
$
|
53,408
|
|
|
Restricted Stock Units and Awards
|
|
—
|
|
|
26,329
|
|
|
||
Total share-based compensation cost
|
|
$
|
14,324
|
|
|
$
|
79,737
|
|
|
•
|
Our ability to generate customer acceptance of and demand for our products;
|
•
|
Successful ramping up of commercial production on the equipment installed;
|
•
|
Our products are successfully and timely certified for use in our target markets;
|
•
|
Successful operating of production tools to achieve the efficiencies, throughput and yield necessary to reach our cost targets;
|
•
|
The products we design are saleable at a price sufficient to generate profits;
|
•
|
Our ability to raise sufficient capital to enable us to reach a level of sales sufficient to achieve profitability on terms favorable to us;
|
•
|
Effective management of the planned ramp up of our domestic and international operations;
|
•
|
Our ability to successfully develop and maintain strategic relationships with key partners, including OEMs, system integrators, distributors, retailers and e-commerce companies, who deal directly with end users in our target markets;
|
•
|
Our ability to maintain the listing of our common stock on the OTC Market;
|
•
|
Our ability to implement remediation measures to address material weaknesses in internal control;
|
•
|
Our ability to achieve projected operational performance and cost metrics;
|
•
|
Our ability to enter into commercially viable licensing, joint venture, or other commercial arrangements; and
|
•
|
Availability of raw materials.
|
1.
|
Personnel and facility related expenses decreased approximately
$83,000
, as compared to the
first
quarter of
2017
. The decrease in personnel and facility related costs was primarily due to a reduction in headcount.
|
2.
|
Consulting and contract services decreased approximately
$11,000
, as compared to the
first
quarter of
2017
. The decrease in expense as compared to the
first
quarter of
2017
was primarily attributed to the reduced number of contractors during the quarter ended
March 31, 2018
.
|
3.
|
Materials and equipment related expenses, decreased approximately
$9,000
, as compared to the
first
quarter of
2017
. The decrease was due to a decrease in production of research and development products.
|
1.
|
Personnel and facility related costs decreased approximately
$361,000
during the three months ended
March 31, 2018
, as compared to the three months ended
March 31, 2017
. The overall decrease in personnel related costs was primarily due a lower headcount for the three months ended
March 31, 2018
, as compared to the three months ended
March 31, 2017
.
|
2.
|
Marketing and related expenses decreased approximately
$83,000
during the three months ended
March 31, 2018
, as compared to the three months ended
March 31, 2017
. The decrease in Marketing and related expenses is due to reduced marketing, advertising, and promotional activities during the three months ended
March 31, 2018
, compared to the
first
quarter of
2017
, which is the direct result of changing our main focus from the retail consumer electronics market to higher-value PV markets.
|
3.
|
Consulting and contract services decreased approximately
$354,000
during the three months ended
March 31, 2018
, as compared to the three months ended
March 31, 2017
. The decrease was a result of decreased use of consultants and contractors.
|
4.
|
Legal expenses increased approximately
$92,000
during the three months ended
March 31, 2018
, as compared to the three months ended
March 31, 2017
. The primary reasons for the increase is due increased and general legal expenses related to financing efforts as compared to the quarter ended
March 31, 2017
, offset by decreases in legal expenses related to our patent activity as compared to the
first
quarter of
2017
.
|
5.
|
Bad debt and settlement expenses decreased approximately
$45,000
during the three months ended
March 31, 2018
, as compared to the three months ended
March 31, 2017
. During the first quarter of 2017 we recorded payments and settlements against existing reserves which were offset by additional reserves for customers whose accounts were greater than 120 days overdue.
|
6.
|
Public company expenses decreased approximately
$78,000
during the three months ended
March 31, 2018
, as compared to the three months ended
March 31, 2017
. The decrease is mostly due to reduced SEC filings and a decrease in public relations expense.
|
1.
|
Interest expense decreased approximately
$648,000
, as compared the
first
quarter of
2017
. The decrease is primarily due to an decrease of non-cash interest expense related to convertible debt, promissory notes, and Preferred Stock.
|
2.
|
Gains and losses on change in fair value of derivatives and on extinguishment of liabilities, net was a loss of approximately
$984,000
during the
first
quarter of
2018
, as compared to an approximate gain of
$673,000
for the
first
quarter of
2017
. The increased expense of approximately
$1,658,000
in this non-cash item is attributable to a loss of approximately
$551,000
on the change in fair value of our embedded derivative instruments during the three months ended
March 31, 2018
, compared to an approximate gain
$3,256,000
in
2017
, offset by a reduction in the loss from extinguishment of liabilities of approximately
$2,149,000
, related to conversions and redemptions of certain convertible notes and preferred stock, for the three months ended
March 31, 2018
, as compared to the the three months ended
March 31, 2017
|
|
|
Decrease (Increase)
to Net Loss
For the Three
Months Ended
March 31, 2018 Compared to the Three Months Ended
March 31, 2017
|
||
Revenues
|
|
97,000
|
|
|
Cost of Revenue
|
|
1,220,000
|
|
|
Research, development and manufacturing operations
|
|
|
||
Materials and Equipment Related Expenses
|
|
9,000
|
|
|
Personnel and Facility Related Expenses
|
|
83,000
|
|
|
Consulting and Contract Services
|
|
11,000
|
|
|
Inventory Impairment Costs
|
|
364,000
|
|
|
Selling, general and administrative expenses
|
|
|
||
Personnel, administrative, and facility Related Expenses
|
|
361,000
|
|
|
Marketing Related Expenses
|
|
83,000
|
|
|
Legal Expenses
|
|
(92,000
|
)
|
|
Public Company Costs
|
|
78,000
|
|
|
Consulting and Contract Services
|
|
354,000
|
|
|
Bad debt and Settlement expense
|
|
45,000
|
|
|
Depreciation and Amortization Expense
|
|
270,000
|
|
|
Other Income / (Expense)
|
|
|
||
Other income
|
|
728,000
|
|
|
Interest Expense
|
|
(648,000
|
)
|
|
Non-Cash Change in Fair Value of Derivatives and Gain/Loss on Extinguishment of Liabilities, net
|
|
1,658,000
|
|
|
Decrease (Increase) to Net Loss
|
|
$
|
1,145,000
|
|
|
|
|
|
Payments by Year
|
|||||||||||||
Contractual Obligation
|
|
Total
|
|
Less than 1 year
|
1-3 Years
|
3-5 Years
|
More than 5 Years
|
||||||||||
Long Term Debt
|
|
$
|
6,834,440
|
|
|
$
|
693,611
|
|
$
|
2,080,832
|
|
$
|
2,080,832
|
|
$
|
1,979,165
|
|
Purchase Obligations
|
|
$
|
423,297
|
|
|
423,297
|
|
|
|
|
|||||||
|
|
$
|
7,257,737
|
|
|
$
|
1,116,908
|
|
$
|
2,080,832
|
|
$
|
2,080,832
|
|
$
|
1,979,165
|
|
|
ASCENT SOLAR TECHNOLOGIES, INC.
|
|
|
|
|
|
By:
|
/
S
/ VICTOR LEE
|
|
|
Lee Kong Hian (aka Victor Lee)
President and Chief Executive Officer
(Principal Executive Officer, Principal Financial Officer, Chief Accounting Officer, and Authorized Signatory)
|
1 Year Ascent Solar Technologies (PK) Chart |
1 Month Ascent Solar Technologies (PK) Chart |
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