Hi, I have just joined this board, this is my first posting. I have done extensive research on Ascent Solar from its past news lease as far back as 2012 and I am much delighted to have found such an innovative company with diversified solar charging products which very much impress me in the Youtube Videos. I think the share price is artificially manipulated and does not reflect the true value of the company, but it offers a basement entry price opportunity. In my research I collected these data:
Quarterly Sales Revenue in US$:
2012 Q1 10K
2012 Q2 63K
2012 Q3 ?
2012 Q4 32K
2013 Q1 176K
2013 Q2 166K
2013 Q3 273K
2013 Q4 580K
2014 Q1 753K
2014 Q2 1.1 MILLION
2014 Q3 1.1 MILLION
2014 Q4 2.4 MILLION
2015 Q1 658K
2015 Q2 2.23 MILLION
2015 Q3 1.3 MILLION
2015 Q4 2.4 MILLION
2016 Q1 710K
2016 Q2 255K
As seen from the sales record, sales have been rising over the past few years. Q1 sales in any year have been slow due to seasonal factor. Victor Lee explains the low sales in Q2,2016 :
Net product sales for the second quarter were negatively impacted by various factors that unfortunately happened concurrently. First, Ascent experienced a temporary slowdown of purchase orders from one of its large customers due to a change in management and purchasing strategies. Secondly, there were changes in the terms to some of the company's customer agreements, resulting in the deferral of a portion of revenue recognition in compliance with the US GAAP accounting rules. Thirdly, the retail industry in the consumer electronics and sporting goods sector has been experiencing some major challenges, including the filing for bankruptcy protection by one of its key clients. Finally, Ascent's ability to build on 2015's sales momentum was severely impacted by limitations on raising further growth capital given the negative impact of moving from its Nasdaq listing to the OTCQB Venture Market.
Active cost-cutting measures were implemented as Ascent restructures its operations following the delisting from the Nasdaq Capital Market. The Company has since lowered selling, general, and administrative expenses as well as other financing costs, which has contributed to improvements to its overall net loss as compared to the prior quarter. Research and development expenses have remained relatively flat while the Company continues to improve the efficiency of its PV products and develop new products to meet customers' demands.
As the management diligently increase partnership with merchants around the world while increasing the diversity of its products, annual sales will likely hit the management's target of $10 million. If Q3 financial which will be released on November 11 will show strong revenue of $2.4 million or higher, there will be a firework in share price, but it could be a case of buy on speculation, sell on good news as subtle investors hoard up shares.
Extract from May 12 news release:
Mr. Lee concluded, "We are very excited about the increased visibility of our EnerPlex products in a growing number of reputable retailers. With entrance into several new retailers in the first half of the year, we are focused on delivering strong results heading into the second half of the year. We are also observing great traction in the high-value PV market, especially for the space, near-space and drone applications, which we believe will add to our revenue velocity going forward. We look forward to moving ahead and updating our shareholders as we execute on our growth strategy."
Personally I have loaded up, hoping to achieve an early retirement.
Happy investing
Reference
investors.ascentsolar.com/news.cfm
