Core Insights - Ascent Solar Technologies is participating in the 40th Annual Space Symposium to showcase its thin-film photovoltaic solutions and explore partnerships in the space industry [1][2] Company Overview - Ascent Solar Technologies specializes in lightweight, flexible thin-film photovoltaic solutions, with a production facility in Thornton, Colorado [1][5] - The company has 40 years of R&D and 15 years of manufacturing experience, holding a comprehensive IP and patent portfolio [5] Event Participation - Julian Miller, Director of Space Solutions, will meet with potential customers and partners during the Space Symposium to discuss the performance of Ascent's products in space environments [2][3] - The company will conduct tours of its 5MW production facility for symposium attendees and major defense contractors [1][3] Product Capabilities - Ascent's thin-film PV products are designed for orbital and planetary surface environments, emphasizing their lightweight and efficient characteristics [2][3] - The production facility has the capacity to ship orders exceeding 100kW this summer, with ongoing discussions about advanced capabilities in various market sectors [3] Market Opportunities - The company is exploring opportunities in commercial, civil, and defense sectors, including in-space manufacturing and lunar surface operations [3]

Company Overview - Ascent Solar Technologies focuses on manufacturing flexible, durable photovoltaic solar modules for specialized markets, including aerospace and agrivoltaics[15]. - The company is the only known entity focused on commercial-scale production of CIGS on a flexible plastic substrate, providing a competitive edge in weight-sensitive markets[23]. Financial Performance - The company reported cash used in operations of $8,423,569 for the year ended December 31, 2024, with cash and equivalents on hand of $3,170,743[42]. - For the year ended December 31, 2024, the company generated total revenue of $41,893, all from product sales[123]. - The company incurred a net loss of $9,130,274 for the year ended December 31, 2024, resulting in an accumulated deficit of $491,608,710[48]. - Total revenues decreased by $416,367, or 91%, for the year ended December 31, 2024, compared to 2023, primarily due to a large customer order and engineering revenue not repeated in the current period[138]. - Cost of revenues decreased by $1,743,965, or 92%, for the year ended December 31, 2024, primarily due to decreased manufacturing activities and sales[140]. - Research, development, and manufacturing operations costs decreased by $921,335, or 29%, for the year ended December 31, 2024, due to a focus on product and technology improvements[141]. - Selling, general and administrative expenses decreased by $858,186, or 16%, for the year ended December 31, 2024, primarily due to lower personnel costs[142]. - The company has working capital of $1,432,912 as of December 31, 2024, but additional financing will be required to achieve profitability[148]. Research and Development - Research and development expenses for the years ended December 31, 2024 and 2023 were approximately $2,300,948 and $3,222,283, respectively[32]. - Ascent continues to invest in R&D to enhance manufacturing processes and develop next-generation technologies[32]. Market and Competition - Ascent's proprietary CIGS technology offers higher conversion efficiency compared to a-Si and CdTe, with a focus on lightweight and flexible applications[21]. - The integration of solar modules into aerospace and space applications presents significant market opportunities due to high durability and low weight[17]. - The company faces intense competition in the solar energy industry, with competitors having greater financial and technical resources[62]. - The company is targeting emerging markets for product sales, which may not develop as rapidly as anticipated[57]. Operational Risks - The auditors expressed substantial doubt about the company's ability to continue as a going concern, citing insufficient capital resources to sustain operations for 2025 without additional funding[45]. - The company has a limited operating history and has not generated significant revenue, with expectations of continued losses until revenues and gross margins can cover operating expenses[46]. - The company depends on a limited number of third-party suppliers for key raw materials, which poses risks to manufacturing and delivery[55]. - The company may be unable to achieve profitability if sufficient demand for its products does not develop or takes longer than expected[59]. - The company may face substantial litigation expenses and resource diversion due to third-party claims of intellectual property infringement, which could adversely affect its financial results[70]. - The company is subject to various environmental regulations that could lead to significant costs and impact its financial condition, particularly concerning the use of cadmium in its PV modules[75][76]. - The company anticipates that its PV modules will be subject to oversight and regulation, which may result in additional expenses and reduced demand for its products[82]. - The company faces risks related to international operations, including unfavorable political and regulatory conditions that could adversely affect its business[78][79]. Leadership and Governance - The company reported a significant leadership change with Paul Warley appointed as CEO on May 2, 2023, following his role as CFO from December 2022 to May 2023[169]. - Jin Jo has been serving as CFO since May 2023, bringing over 20 years of accounting experience, including her previous role at Empower Retirement[170]. - Bobby Gulati was promoted to COO in May 2023, having over 30 years of experience in engineering and manufacturing roles[172]. - The Board of Directors currently consists of five members, with four identified as independent under Nasdaq standards[183]. - The Audit Committee, chaired by Louis Berezovsky, oversees financial reporting processes and is composed entirely of independent members[189]. - The Compensation Committee, led by Forrest Reynolds, reviews executive compensation and is also comprised of independent directors[191]. - The company has a structured risk management process overseen by the Board, which includes regular discussions on strategy and risks with management[186]. Compliance and Regulations - The company must comply with the Sarbanes-Oxley Act, which requires effective internal control over financial reporting, potentially incurring substantial accounting expenses[86][87]. - The company emphasizes the importance of maintaining accurate financial records and internal controls to comply with generally accepted accounting principles[166]. - The company has adopted a code of ethics applicable to senior finance and accounting staff to promote ethical conduct[209]. Stock and Shareholder Matters - The company's common stock price fluctuated between $2.255 and $85.30 from January 1, 2024, to December 31, 2024, and ranged from $75.50 to $28,600 in 2023[84]. - The company may experience significant dilution of stockholder value due to the potential issuance of additional common stock related to derivative securities[91][92]. - The company received notices from Nasdaq indicating non-compliance with listing rules requiring a minimum of $2,500,000 in stockholders' equity and a minimum bid price of $1.00[98]. - In September 2024, the company regained compliance with Nasdaq's bid price and equity requirements and is subject to a one-year Nasdaq Listing Panel Monitor[99]. - The company did not pay any dividends during the years ended December 31, 2024 and 2023, and does not expect to declare dividends in the foreseeable future[118]. Cybersecurity and Risk Management - The company has a process for assessing and managing cybersecurity risks, overseen by the COO and the Board of Directors[107][109].

Core Insights - Ascent Solar Technologies has delivered spaceflight-ready photovoltaic (PV) blankets to a European space systems provider, enhancing spacecraft capabilities by making them lighter and more powerful [1][3] - The flexible CIGS PV design allows for rollability, addressing mass and volumetric constraints, and will be part of Ascent's Hardware Developer Kit program for prospective customers [2] - The company emphasizes its ability to rapidly customize products to meet urgent mission requirements, supported by a 5 MW production facility and refined manufacturing processes [3] Company Overview - Ascent Solar Technologies has 40 years of R&D and 15 years of manufacturing experience, with a strong IP and patent portfolio, focusing on high-performance, flexible thin-film solar panels [4] - The company's PV modules have been utilized in various applications, including space missions, airborne vehicles, and agrivoltaic installations, showcasing versatility in solar power use cases [4] - The research and development center and production facility are located in Thornton, Colorado, indicating a strong operational base for innovation and manufacturing [4]

Core Insights - Ascent Solar Technologies has received an order to revise the design of its space solar products after evaluation by a potential customer interested in beamed power technologies [1] - The company’s CIGS PV products have been tested by multiple third parties for beamed power applications, leading to the rapid development and delivery of an optimized module prototype [2] - Analysis of the test data for both standard and optimized CIGS PV modules confirmed superior thermal properties and potential for increased performance, prompting the latest design order [3] - The CEO highlighted the growing interest in power beaming and space-based solar power, emphasizing the company's agile design capabilities and the differentiation from traditional silicon-based solar providers [4] Company Overview - Ascent Solar Technologies has 40 years of R&D and 15 years of manufacturing experience, with a strong IP and patent portfolio, positioning it as a leader in flexible thin-film solar panels [6] - The company’s products have been deployed in various applications, including space missions and airborne vehicles, showcasing versatility in solar power use cases [6] - The manufacturing facility in Thornton, Colorado, has a nameplate production capacity of 5MW, enabling rapid design and production adjustments to meet customer needs [4][6]

Core Insights - Ascent Solar Technologies is making significant progress in its commercial initiatives and achieving its annual goals for 2025 [1][3] - The company is collaborating with various strategic partners in the space market to test and integrate its thin-film CIGS solar technology, aiming for long-term revenue agreements [2][3] - Ascent's products are designed to meet the increasing demand for space-based power, with a focus on efficiency and reliability in harsh environments [3][4] Company Overview - Ascent Solar Technologies has 40 years of R&D and 15 years of manufacturing experience, supported by a strong IP and patent portfolio [4] - The company specializes in high-performance, flexible thin-film solar panels suitable for various applications, including space missions and commercial construction [4] - Ascent's production facility is located in Thornton, Colorado, with a nameplate capacity of 5 MW [4]

Core Insights - Ascent Solar Technologies is focusing on optimizing its thin-film photovoltaic (PV) solutions for space environments, targeting a high-growth market in 2025 and beyond [2] - The company aims to build on its 2024 achievements to drive business momentum in 2025, with an emphasis on space and defense capabilities [2][6] - Ascent Solar has a strong foundation with 40 years of R&D and 15 years of manufacturing experience, positioning itself as a leader in flexible thin-film solar technology [4] Company Developments - The leadership team is committed to creating new private partnerships in space to enhance thin-film PV capabilities for satellite power systems and beamed power applications [6] - Continued development of CIGS technology is a priority, with goals to improve efficiency and increase production volumes to meet market demands for solar materials [6] - The company is increasing R&D efforts through collaborations with higher education institutions and private partnerships to advance the next generation of thin-film solar technology [6] Market Position - Ascent Solar's PV modules have been deployed in various applications, including space missions, airborne vehicles, and agrivoltaic installations, showcasing the versatility and reliability of its products [4] - The company is well-positioned to capitalize on the growing emphasis on space and defense from the national government, indicating potential for long-term success [2][3]

The Series A Preferred Stock may be converted into shares of common stock at the option of the Company if the closing price of the common stock exceeds $23.2 billion, adjusted for reverse stock splits, for twenty consecutive trading days, or by the holder at any time. The Company has the right to redeem the Series A Preferred Stock at a price of $8.00 per share, plus any accrued and unpaid dividends, plus the make-whole amount (if applicable). At September 30, 2024, the preferred shares were not eligible fo ...

THORNTON, Colo., Aug. 13, 2024 (GLOBE NEWSWIRE) -- Ascent Solar Technologies (“Ascent” or the “Company”) (Nasdaq: ASTI), the leading U.S. innovator in the design and manufacturing of featherweight, flexible thin-film photovoltaic (PV) solutions, today commented on its positioning withing the solar industry after its previously-announced reverse stock split, which takes effect before market open on August 15, 2024. “By effecting the reverse stock split, we believe we have better positioned the company to suc ...

Core Viewpoint - Ascent Solar Technologies, Inc. will execute a 1-for-100 reverse stock split effective before market open on August 15, 2024, to meet Nasdaq listing standards and increase its stock price above $1.00 [1][2][3] Group 1: Reverse Stock Split Details - The reverse stock split was approved by stockholders at the 2024 Annual Stockholders Meeting on August 7, 2024, and will combine every hundred shares into one share [1][2] - The new CUSIP number for the common stock will be 043635804, and trading on a split-adjusted basis will commence on August 15, 2024 [2] - The total number of issued and outstanding shares is expected to decrease from approximately 102 million to about 1.02 million post-split [3] Group 2: Impact on Stock Options and Warrants - The reverse stock split will also apply to common stock issuable upon the exercise of outstanding warrants, stock options, and restricted stock units, with proportional adjustments to exercise prices [3] Group 3: Company Background - Ascent Solar Technologies is a leader in flexible thin-film photovoltaic solutions, with 40 years of R&D and 15 years of manufacturing experience [4] - The company's PV modules have been utilized in various applications, including space missions and commercial construction, showcasing their versatility and performance [4]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Securities registered pursuant to Section 12(b) of the Act: FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from to Commission File No. 001-32919 Ascent Solar Technologies, Inc. (Exact name of registrant as specified i ...