Ascent Solar Technologies, Inc. (OTCMKTS:ASTI) (ASTID) Seeks to Recover Above $10 After 1 in 5,000 Reverse Split

Ascent Solar Technologies, Inc. (OTCMKTS:ASTI) formed a solid base at its all-time Split Adjusted low of $9 per share. This comes after the company recently completed a 1 for 5,000 reverse stock split on January 28, temporarily putting the ticker at ASTID. The Company now plans to apply to list its shares on the Nasdaq Capital Market. Any listing on Nasdaq will be subject to the Company’s compliance with applicable Nasdaq listing criteria and the review and approval of the Company’s application by Nasdaq. Management correctly predicted that a small, clean stock structure on NASDAQ would be much more attractive to investors than the current situation. We have Bernd covered Fortsch and its property of ASTI extensively in previous articles, see here.

ASTI is a former NASDAQ and has a long history of explosive moves since trading on the OTCQB. ASTI was an early pioneer of flexible solar modules and couldn’t be in a stronger position as solar power is currently experiencing a huge 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 new photovoltaic experiment. Another indication of the value of ASTI solar technology is ASTI’s ability to raise funds on very favorable terms and at conversion prices significantly higher than current pps. Over the past few months, ASTI has raised over US$15 million, delivered a major supply contract and signed a JDA with TubeSolar AG that could generate revenue of US$13.5 million.

Ascent Solar Technologies, Inc. (OTCMKTS: ASTI) of Thornton, Colorado is a developer of thin-film photovoltaic modules using flexible substrate materials that are more versatile and robust than traditional solar panels. Ascent Solar modules have been named one of the Top 100 Technologies by R&D Magazine and one of the Top 50 Inventions by TIME Magazine. 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 and monolithically integrated photovoltaic (PV) is based on copper-indium-gallium-selenium (CIGS) chemistry and will benefit a variety of future missions, ranging from CubeSats, solar sails and potentially missions to the moon and Mars. In order to obtain the data necessary to determine the flexibility of CIGS in the space environment, Ascent’s PV modules have undergone extensive evaluations for years, including extensive and demanding ground simulation tests and, as part of the 10th International Space Station Materials Experiment (MISSE-X) aboard the International Space Station launched on November 17, 2018 for a duration of more than 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 new photovoltaic experiment.

In order to achieve their goal of relisting on NASDAQ where they used to trade, ASTI completed a 1 for 5,000 reverse stock split on January 28 and is temporarily trading as ASTID. At the time of the reverse stock split, the company reduced the OS from approximately 23.74 billion shares before the split to approximately 4.81 million shares after the split, but as of today, OTCMARKETS is showing 30.5 million shares outstanding. The number of authorized shares of the Company’s ordinary shares has increased from 30 billion to 500 million ordinary shares.

To discover the Inside Scoop on ASTID Subscribe to Microcapdaily.com now by entering your e-mail in the box below

ASTID

Now that ASTI has assigned the Reverse Split, the Company intends to apply to list its shares on the Nasdaq Capital Market. Any listing on Nasdaq will be subject to the Company’s compliance with applicable Nasdaq listing criteria and the review and approval of the Company’s application by Nasdaq. Management firmly believes that the Reverse Split is essential to the continuation of the Company’s recovery process. As previously reported, Ascent was mostly in a dormant state for much of 2020 due to financial constraints and COVID-19. Beginning in mid-2020, however, the company embarked on several initiatives that assisted in the restructuring, recapitalization and turnaround of Ascent Solar. These initiatives included:

  • Strengthening of the board of directors and management of the Company;
  • Aligned with leading German manufacturer of thin-film agrivoltaic solar tubes, TubeSolar AG, to secure a strategic capital injection of $2.5 million in January 2021, as well as a long-term supply agreement in August 2021;
  • Obtaining a cash injection of $3M in March 2021 from a private equity fund at a fixed price of $0.04 per share;
  • Conversion of outstanding secured debt of $5.8 million in March 2021 into common stock at a fixed price of $0.0345 per share;
  • Completed delivery of a major supply contract in May 2021 with a developer of advanced unmanned helium-filled airships;
  • Be recognized for exceptional aircraft stability during spaceflight experiences while receiving an innovation award at the Defense TechConnect conference; and,
  • Recently completed a strategic fundraising of $10 million from Ascent’s largest stakeholder at a fixed price of $0.015 per share.

On January 28, ASTID announced that the company had been selected by Momentus, Inc., a developer and manufacturer of new “last mile” space solutions, to produce custom flexible CIGS photovoltaic modules to power a deployable photovoltaic array of demonstration to fly on a future Vigoride spacecraft – scheduled to fly in 2022.

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

Ascent’s flexible, ultra-lightweight and monolithically integrated photovoltaic (PV) systems are based on copper-indium-gallium-selenium (CIGS) chemistry and will benefit a variety of future missions, ranging from CubeSats, solar sails and potentially missions to the moon and Mars.

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

“The module developed by Ascent Solar and Momentus is designed for rapid integration into Momentus’ deployable photovoltaic array. We have developed a monolithically integrated custom sub-module for their application to maximize the space utilization of the PV. We then integrated it into our laminated packaging with a harness that negates any magnetic interaction with the current loops, and placed protective bypass diodes on each circuit to make it a really rugged building block for their deployable PV panels. . This is just the first generation of our basic space building block. We will continually seek to improve it, in particular to reduce the weight of the module.

To learn more about ASTI, subscribe now!

ASTI has formed a solid base right at its all-time low Adjusted Split at $9 per share. This comes after the company recently completed a 1 for 5,000 reverse stock split January 28 temporarily putting the ticker at ASTID. The Company now plans to apply to list its shares on the Nasdaq Capital Market. Any listing on Nasdaq will be subject to the Company’s compliance with applicable Nasdaq listing criteria and the review and approval of the Company’s application by Nasdaq. Management correctly predicted that a small, clean stock structure on NASDAQ would be much more attractive to investors than the current situation. ASTI is a former NASDAQ and has a long history of explosive moves since trading on the OTCQB. ASTI was an early pioneer of flexible solar modules and couldn’t be in a stronger position as solar power is currently experiencing a huge 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 new photovoltaic experiment. Another indication of the value of ASTI solar technology is ASTI’s ability to raise funds on very favorable terms and at conversion prices significantly higher than current pps. Over the past few months, ASTI has raised over US$15 million, delivered a major supply contract and signed a JDA with TubeSolar AG that could generate revenue of US$13.5 million. We’ll be updating ASTI as events unfold, so make sure you’re subscribed to Microcapdaily so you know what’s going on with ASTI.

Disclosure: We do not hold any positions in ASTI, long or short, and we have not been compensated for this article.

About Jason Norton

Check Also

Low stock price triggers Nasdaq delisting warning for AlerisLife

AlerisLife (Nasdaq: ALR) needs to raise its stock price or face possible delisting from the …