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An Update On Ascent Solar Technologies Inc (OTCMKTS:ASTI)

An Update On Ascent Solar Technologies Inc (OTCMKTS:ASTI)
Written by
Alex Carlson
Published on
July 5, 2016
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Source: EnerPlex

Ascent Solar Technologies Inc (OTCMKTS:ASTI) is hoping to bounce after implementing a 1 for 20 reverse stock split last month. Shares traded under the symbol ASTID to reflect the split and are now back to trading as ASTI. Shareholders are hoping the company can bounce back as endless dilution has destroyed shareholder value. We're hoping the company can deliver some major news fast and get its stock price moving again.Ascent Solar Technologies Inc is a developer of thin-film photovoltaic modules with substrate materials that can be more flexible and affordable than most traditional solar panels. Ascent Solar modules can be directly integrated into standard building materials, aerospace applications, consumer electronics for portable power or configured as stand-alone modules for large scale terrestrial deployment. The company's EnerPlex Division represents Ascent Solar's consumer-facing business and products. These products, many of which are integrated with Ascent Solar's transformational CIGS technology, provide consumers with the ability to integrate solar into their everyday lives, while enabling them to free themselves and their electronics from the outlet.Last month, the EnerPlex Kickr IV, was named to Men's Health' "Best New Gear for the Great Outdoors" list. The magazing listed the Kickr IV's highlights as:

  • POWERFUL: The perfect blend of size & power, 6 watt TRUE OUTPUT designed to charge most USB devices at the same rate as a wall outlet
  • LIGHTWEIGHT: Solar-on-plastic technology makes the unit extremely light & flexible, weighing only 0.6lbs; perfect for camping, hiking or any other outdoor activity.
  • RUGGED: Water resistant & designed for the harshest conditions. Able to withstand high impact shocks, drops and can continue to function even when punctured or damaged.
  • Made in the USA: Leading and trusted American solar technology. Engineered and 100% made in Denver, CO.
  • BEST dawn to dusk performance: Superior all-day performance & higher output in cloudy, overcast or shaded conditions compared to other technologies
  • Built with the World's Most Awarded Solar, one of TIME Magazine's Top 50 Inventions
  • Made for the MILITARY, originally designed for use by soldiers in combat theatres

The key for EnerPlex is continuing to expand its retail footprint. Here, the company is succeeding. In May, EnerPlex expanded its European retail footprint to include 95 Robert Dyas (www.robertdyas.co.uk) stores in the United Kingdom. Prior to this, ASTI announced that it secured a new partnership with GoWireless Inc, one of the nation’s largest Verizon Authorized Retailers, to carry the EnerPlex line of mobility power products in the retailer’s 553 stores. This expanded EnerPlex's penetration of the Verizon Authorized Retailer market beyond 1000 stores nationwide.In Germany, EnerPlex has an agreement for the exclusive distribution of EnerPlex products within Germany with KOMSA, the Hartmannsdorf, Germany based distributor. Germany is a big market for EnerPlex and ASTI COO Rafael Gutierrez said:

"The signing of KOMSA is the first step in our strategy to capitalize on the opportunity presented in Central and Southern Europe, over half of Germans own smartphones, along with a similar percentage for the citizens of France, Italy and Spain. We see the European market as underserved in regards to Mobility Power across all three product verticals EnerPlex manufactures: Mobile, Outdoor and Emergency."

Currently trading with a market cap of $1 million, ASTI has been a disappointment for investors. Consider that when we last profiled the company in May, it had a market cap of $9 million. The company really needs to deliver some major PR and get investors excited again. The good news is that shares are quite oversold at current levels and due for a technical bounce.However, the bad news is still dilution. Last month, ASTI entered into a securities purchase agreement with a private investor for the private placement of up to $2,500,000 of the Company's newly designated Series H 7% Convertible Preferred Stock. On June 9, 2016, the company sold and issued 250 shares of Series H Preferred Stock to Investor in exchange for $250,000. The company also said that it will sell and issue an additional 250 shares of Series H Preferred Stock to Investor in exchange for $250,000 on June 23, 2016. This means more dilution is coming and that's not a good sign. We will be updating Insider Financial as soon as we know more. For continuing coverage on ASTI, sign up for our free newsletter today and get a free ebook as an added bonus!Disclosure: We have no position in ASTI and have not been compensated for this article.

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