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Ascent Solar Technologies Inc. Photovoltaics company

OTCMKTS: $ASTI  0.0192 Barchart



 



Stock Symbol: $ASTI




Ascent Solar Announces Positive Third Quarter 2018 Results 

11/20/18, 6:00 AM 
THORNTON, CO, Nov. 20, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Ascent Solar Technologies, Inc. (OTCBB: ASTI), a developer and manufacturer of state-of-the-art, lightweight, and flexible thin-film photovoltaic (PV) solutions, reported results for the quarter ended September 30, 2018. 

Q3-2018 Financial Results: 

Net revenues were approximately $32K for the three months ended September 30, 2018, compared to $242K for the three months ended September 30, 2017, a decrease of $210K. The decrease is due to decreased sales of our private sector PV products of approximately $233K compared to the same period last year, slightly offset by sales of $23K of PV products under a government contract for the three months ended September 30, 2018. We expect to continue to experience huge volatility in net revenues booked, given the nature of our project based business model and revenue recognition policy, which recognizes revenue upon shipment of products. This brings our year-to-date nine months revenue to $512K, as compared to $548K in the same period in 2017. 

On the other hand, cost of revenues for the three months ended September 30, 2018 was negligible, compared to $535K for the three months ended September 30, 2017, representing a significant cost reduction. The decrease is primarily attributed to a decrease in materials and labor costs as a result of a decrease in production level as compared to the third quarter in the prior year. Production activities were minimal during the third quarter of 2018, as part of our cost management initiatives. Management believes our factory is currently significantly under-utilized, and a substantial increase in revenue would result in marginal increases to overhead. 

Despite revenue decline, loss from operations reported sharp improvement of approximately 64%, down from ($3.3M) in the third quarter of 2017 to ($1.2M) in this period; the year-to-date operating loss represents an improvement of $6.6M, or 57%, compared to 2017. This improvement was primarily the result of reduced manufacturing activities, progressive cost-reduction initiatives in manufacturing and R&D operations, and lower depreciation and amortization. Going forward, operating expenses are expected to remain manageable at the current level, and should show continued improvement as the Company progresses in the restructure and streamlining of its operations. 

Despite the loss from operation albeit narrowing gap, this is the first time in the corporate history that the Company actually reported quarterly net income of $383K based on US GAAP, for the quarter ended September 30, 2018 as compared to net loss of ($2.36M) in the same period last year. The net income was mainly the result of ongoing cost reduction initiatives, and non-cash items comprised of approximately $1.7M in non-cash interest expense, and a substantial positive swing of approximately $3.3M gain in change of fair value of derivatives liabilities associated with convertible notes. 

Management Comments: 

“We will continue to streamline our business model to better focus on our core strength in the specialty PV markets with high entry barriers like the space and near-space, aviation (drones), military, 1st Responders and emergency power markets,” commented Victor Lee, President and CEO of Ascent Solar Technologies, Inc. “The Company has made significant progress in penetration of these high-value markets, and we will continue to sharpen our focus in such areas where Ascent is truly at the forefront of the competition. The most recent press release on November 19, 2018 with regards to our involvement with the NASA MISSE-X project is a strong testament to our progress in the highly demanding space and near-space market.” 

ABOUT ASCENT SOLAR TECHNOLOGIES, INC: 

Ascent Solar Technologies, Inc., an ISO 9001-2015 certified company, 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 in both 2010 and 2015 by R&D Magazine, and one of TIME Magazine's 50 best inventions for 2011. 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, where the company’s quality management system has achieved ISO 9001:2015 certification. More information can be found at www.AscentSolar.com. 

Forward-Looking Statements: 

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with the Securities and Exchange Commission

Victor Lee 
1-720-872-5233 
victor.lee@ascentsolar.com 
AS Logo.png 

Source: Ascent Solar Technologies, Inc.< 

After two decades of research and development, Ascent Solar was formed in 2005, to commercialize leading-edge CIGS photovoltaic technology on flexible, plastic substrate. Ascent’s unique monolithic integration process enables the highest level of efficiency, durability & weight savings representing the potential to transform the way solar power can be used in everyday life. Ascent Solar’s Research and Development  and its 30 MW nameplate production facility is in Thornton, Colorado.
 
By pioneering a technology that is recognized as the future of the solar industry, Ascent has cemented itself as the leader in the manufacturing of innovative, high performance, flexible thin-film solar panels for both existing and emerging defense, consumer electronic, off-grid, transportation and building applications.

Ascent Solar has won 3 awards thus far that touts it’s superior technology.In 2010, Ascent Solar was awarded an R&D 2010 Award for developing CIGS (Copper-Indium-GalliumSelenide) on a polyimide substrate. This demonstrated that solar cell material can be made with roll-to-roll processing on a ?exible, lightweight polyimide substrate with a monolithic integration.

In 2011, Ascent Solar was recognized as one of Time Magazine’s Top 50 Inventions for the development of their thin-film PV on plastic technology. This allows for the unique possibility of seamless integration into vehicles, buildings material and more without being confined to rigid structures.

Finally in 2015, Ascent Solar was presented the R&D 2015 award for the development of their MilPak solar blanket. The MilPak™ E is IP-67 rated fully integrated mobile power solution that includes a foldable photovoltaic blanket with an attached waterproof battery case that houses a maximum peak power tracker, 86.5 watt hour of power storage with battery management circuitry, a 55 watt 24 volt power circuit, and two high-current USB circuits.
Ascent’s results-oriented team is focused on continued technical innovation while effectively developing current market opportunities and enabling customers to create transformational applications using solar power.


After two decades of research and development, Ascent Solar was formed in 2005, to commercialize leading-edge CIGS photovoltaic technology on flexible, plastic substrate.

Ascent’s unique monolithic integration process enables the highest level of efficiency, durability & weight savings representing the potential to transform the way solar power can be used in everyday life. Ascent Solar’s Research and Development  and its 30 MW nameplate production facility is in Thornton, Colorado.

By pioneering a technology that is recognized as the future of the solar industry, Ascent has cemented itself as the leader in the manufacturing of innovative, high performance, flexible thin-film solar panels for both existing and emerging defense, consumer electronic, off-grid, transportation and building applications.

Ascent’s results-oriented team is focused on continued technical innovation while effectively developing current market opportunities and enabling customers to create transformational applications using solar power.

                                                                                 

 

12300 N. Grant St
Thornton, CO 80241 USA
Phone 1.720.872.5000
Fax 1.720.872.5077
company.info@ascentsolar.com


 

Media Coverage

 

Magazine Articles:

TIME Magazine – The 50 Best Inventions of 2011

News Articles:

The New Military and Tactical Solar Backpack by Eclipse Solar Gear
Ascent Solar, Makers of Thin Film Modules, Get Distributors In Singapore, Malaysia, Greece
Samsonite shows messenger bag with solar panel, charger
FTL Solar Integrates Thin-film and Fabric
New Portable Solar Tent for Disaster Relief
The New Eclipse Solar Tablet Case by Eclipse Solar
 

Recent Releases

Jun 20, 2017
Strategic Investor Increases Shareholding in Ascent Solar to Beyond 12%

May 30, 2017
Strategic Investor Increases Shareholding in Common Stock of Ascent Solar

Mar 11, 2016
Investor Presentation, March 2016

 

Dec 1, 2015
Defense Energy Innovation Summit & Showcase

 

We are committed to serving the best interests of our shareholders. You will find key shareholder information and financial reports available to help put Ascent Solar's financial performance into perspective.

Ascent Solar current Form 10-Q (May 22, 2017)  PDF file 357.5 KB

Ascent Solar current Form 10-K/A (May 1, 2017)  PDF file 287.2 KB

 

                                                                                                                          

 

www.AscentSolar.com
 
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ASTI News: Current Report Filing (8-k) 01/15/2019 12:42:59 PM
ASTI News: Current Report Filing (8-k) 01/03/2019 02:35:55 PM
ASTI News: Quarterly Report (10-q) 11/19/2018 02:29:04 PM
ASTI News: Current Report Filing (8-k) 11/14/2018 06:04:29 AM
ASTI News: Notification That Quarterly Report Will Be Submitted Late (nt 10-q) 11/13/2018 01:49:10 PM
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PostSubject
#42129  Sticky Note ASTI~~Offering of Unsecured Non-Convertible Note m1999 01/03/19 03:08:09 PM
#41961  Sticky Note $ASTI .0022 Possible 52 Week High_Long_Term_Weekly_Chart_HUUUUUGGGEEEE!! CrazyKar123 12/28/18 01:17:01 PM
#33504  Sticky Note Ascent Solar Technologies, Inc. (NASDAQ:ASTI) Set to Announce benhor 08/07/17 11:28:45 AM
#17702  Sticky Note trading strategy for $ASTI: Atlanta1 09/27/16 09:33:05 AM
#42191   Maybe someday a beer to celebrate and some Vandalayind 01/23/19 03:41:13 PM
#42190   Fair enough. rhyminrhymin 01/23/19 03:03:09 PM
#42189   I just ran out of seafood. Vandalayind 01/23/19 03:00:28 PM
#42188   You can eat SHriMP but you can’t eat rhyminrhymin 01/23/19 11:09:45 AM
#42187   ROFLMFAO no one is daring to claim .01 is support... Atlanta1 01/23/19 11:09:34 AM
#42186   Tripsies already. Konger working quick. Vandalayind 01/23/19 11:01:43 AM
#42185   Longs should be excited. Lol lol rhyminrhymin 01/23/19 10:00:23 AM
#42184   Could go to $.000ns before Nov 2019, when mdb1 01/23/19 09:55:42 AM
#42183   Agreed Going trips lower rhyminrhymin 01/22/19 04:59:46 PM
#42182   looks like sub-penny is coming.. Atlanta1 01/22/19 02:13:34 PM
#42181   Why did Kong Lee stop talking to his rhyminrhymin 01/22/19 01:17:34 PM
#42180   Looks promising. Vandalayind 01/18/19 01:56:11 PM
#42179   UPDATE........ lol dumbof 01/18/19 04:54:35 AM
#42178   Look for news of the $3 price target rhyminrhymin 01/17/19 08:32:40 PM
#42177   o/s is already much more than that. Atlanta1 01/17/19 03:55:12 PM
#42176   $ASTI ouch MazelTov 01/17/19 03:51:15 PM
#42175   Shows promise. rhyminrhymin 01/16/19 09:15:27 AM
#42174   Thinking ENP* at 5ish is the next play? Vandalayind 01/16/19 08:52:39 AM
#42173   Kong is at a new low level. rhyminrhymin 01/15/19 05:01:06 PM
#42172   https://ih.advfn.com/stock-market/USOTC/ascent-solar-technologies-inc-ASTI/stock dumbof 01/15/19 12:55:58 PM
#42171   ASTI up at the open on a strong rhyminrhymin 01/15/19 09:48:39 AM
#42169   Solar powered Fentanyl!! Buy as much as U chachingin2017 01/14/19 05:48:20 PM
#42168   She’s dead, Jim rhyminrhymin 01/14/19 02:22:58 PM
#42166   Sorry for your loses on ASTI. Kong rhyminrhymin 01/13/19 08:05:29 AM
#42165   Its all good cheap shares before the next Research2 01/13/19 02:09:47 AM
#42164   Kong Lee is a thinning world champion dumbof 01/12/19 04:49:14 AM
#42163   Kong Lee is no Jeff Bezos. rhyminrhymin 01/10/19 02:08:25 PM
#42162   Hey AMZN created markets for things no one mdb1 01/10/19 11:30:59 AM
#42161   No market for that. Lol @ solar awnings rhyminrhymin 01/10/19 08:46:20 AM
#42160   if they get perovskite solar cells working, they mdb1 01/10/19 07:55:07 AM
#42159   $ASTI = super diluting garbage Atlanta1 01/09/19 10:49:01 AM
#42158   More ASTI blood in the street today. rhyminrhymin 01/09/19 10:40:27 AM
#42157   Why did you think ASTI did the R/S? mdb1 01/08/19 04:07:42 PM
#42156   You just missed the last pump-n-dump opportunity to rhyminrhymin 01/08/19 02:54:50 PM
#42155   ASTI getting ready to take off.Buying time IMO. bigarow 01/08/19 01:06:21 PM
#42154   Interesting to look back in here: Here's wellbri4 01/08/19 11:14:38 AM
#42153   The Baybridge DD does not consider ASTI a carusso 01/08/19 09:09:35 AM
#42152   Is ASTI at the CES show this year rhyminrhymin 01/08/19 05:56:10 AM
#42151   No need to be so helpful EVERY day carusso 01/07/19 11:38:59 AM
#42150   Haha ASTI been bleeding out for months. rhyminrhymin 01/07/19 10:36:45 AM
#42149   ROFLMFAO look at the price history. Atlanta1 01/07/19 09:04:19 AM
#42148   ASTI buy when the blood is in the streets. bigarow 01/07/19 08:39:14 AM
#42147   dumbof - Atlanta1 01/05/19 03:08:37 PM
#42146   @ all dumbof 01/05/19 05:04:22 AM
#42145   gosh, always with the negativity.... carusso 01/04/19 04:09:52 AM
#42144   Market Cap/Borrowing ratio rhyminrhymin 01/03/19 06:27:39 PM
#42138   lol all pinkie are trash and you m1999 01/03/19 06:06:08 PM
#42137   Welcome, bagholder. rhyminrhymin 01/03/19 05:26:14 PM
#42136   No it is not! Only someone naive rhyminrhymin 01/03/19 05:24:43 PM
#42135   lol,100-200 %%% run momney m1999 01/03/19 03:15:42 PM
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