Ascent Solar Technologies, Inc. - ASTI STOCK NEWS

Ascent Solar Technologies (OTCMKTS: ASTI) announced a 1-for-5,000 reverse stock split effective January 28, 2022, at 5 p.m. ET. Following the split, shares will trade under temporary symbol 'ASTID' starting January 31, 2022, before reverting to 'ASTI' in 20 business days. Post-split, the number of outstanding shares will decrease from approximately 23.74 billion to about 4.81 million, and the authorized shares will reduce from 30 billion to 500 million. The reverse stock split aims to enhance the company's stock price and is part of prior board approvals in late 2021.

Ascent Solar Technologies (ASTI) announced a proposed reverse stock split in a press release dated December 2, 2021. The company's definitive 14C information statement related to this split was filed with the SEC on November 29, 2021, and is currently being distributed to stockholders. The split ratio approved ranges from 1-for-1,000 to 1-for-10,000, with an anticipated implementation of 1-for-5,000. Management believes this step is crucial for the company's turnaround and aims for a return to the Nasdaq Capital Market. Further details will be shared post-SEC review.

Ascent Solar Technologies, Inc. (OTCMKTS: ASTI) has announced plans for a proposed reverse stock split, aiming to enhance its capital structure and facilitate a potential up-listing to the Nasdaq Capital Market. The reverse split is set to occur at a ratio of 1-for-1,000 to 1-for-10,000, pending regulatory approval. This initiative follows a series of strategic moves, including a $2.5 million capital infusion from TubeSolar AG and a $10 million capital raise from its largest stakeholder. Management believes these actions are crucial for the company's turnaround and future growth.

Ascent Solar Technologies, Inc. (ASTI) announced the completion of a $10M funding commitment from BD 1 Investment Holding, LLC, with an additional $5M received recently. The total funds are part of a securities purchase agreement allowing the sale of 666.67 million shares at $0.015 each. This funding will support capacity ramp-up, technological advancements, and strategic sales development. Management sees this investment as a vote of confidence, bolstering their plans for long-term growth in the specialty photovoltaic market.

Ascent Solar Technologies (ASTI) received a prestigious Innovation Award at the Defense TechConnect Conference, held from October 18-21, 2021. This award, in the Energy and Infrastructure Resilience category, highlights Ascent's innovative lightweight and flexible photovoltaic (PV) solutions. These technologies are aimed at enhancing expeditionary mobile power for military applications. Key company leaders expressed commitment to supporting the Department of Defense's mission, emphasizing the importance of their PV technology for operational efficiency on the battlefield.

Ascent Solar Technologies (ASTI) announced that its photovoltaic (PV) solution surpassed performance expectations in NASA's MISSE-X flight experiment. The results revealed that Ascent's PV retained 92% of its beginning of life power after approximately one year in orbit, outperforming NASA's predictions. The success of this testing positions Ascent for future projects, including missions to the Moon and Mars. The company's flexible, lightweight PV technology is validated for use in extreme space conditions, reinforcing its potential applications in CubeSats and other space missions.

Ascent Solar Technologies has announced a multi-million dollar Joint Development Agreement (JDA) with TubeSolar AG to target the growing Agricultural-photovoltaics (APV) market. The JDA encompasses the supply of customized photovoltaic (PV) foils, a $4M engineering fee, milestone payments of up to $13.5M, and a joint venture to establish a manufacturing facility in Germany. TubeSolar anticipates purchasing increasing amounts of PV foils from Ascent, reaching up to 2 gigawatts in future years, enhancing revenue potential and market presence for Ascent Solar in the renewable energy sector.

Ascent Solar Technologies has successfully secured $5M from BD 1 Investment Holding, LLC as part of a two-tranche $10M funding agreement. The funding will help enhance the company's technological capabilities and ramp-up production. BD 1, the largest stakeholder, expressed confidence in Ascent Solar’s innovative technology and management team. The second tranche is expected by October 31, 2021, which will also involve the issuance of 333.33 million shares at $0.015 each. This financial boost aims to solidify Ascent Solar's position in the high-value solar market.

Ascent Solar Technologies (ASTI) reported a 660% increase in net revenue to $0.38 million for Q2 2021, compared to Q2 2020's $0.05 million. However, expenses rose 470% to $2.14 million, leading to a net loss of $1.7 million, which is a 25% increase from the prior year. Year-to-date net revenue reached $0.55 million, significantly higher than $0.07 million in 2020. Cash reserves improved to $1.36 million from $0.17 million in December 2020, while total liabilities dropped by $11.59 million. The company anticipates further improvements with a $10 million funding commitment.