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Ascent Solar Technologies Inc (OTCMKTS:ASTI) Climbing Up The Charts

Ascent Solar Technologies Inc (OTCMKTS:ASTI) Climbing Up The Charts
Written by
Alex Carlson
Published on
January 24, 2017
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Ascent Solar Technologies Inc (OTCMKTS:ASTI) has been climbing up the charts ever since we issued a recommendation to our subscribers on January 13 when the stock was trading at just $.0016 a share. We had first alerted our readers that a turnaround was at hand last month. We said in our alert:

Pull up (Ascent Solar: ASTI) right away. Let's just say this looks to be set up to be a solid looking bounce play for this former highly touted Nasdaq IPO. The chart certainly isn't pretty but in this case it may not be so bad. If you look through the history of the past year this one consistently has a history of rebounding after a few consecutive down days. Right now it trades at .00167. One of the main catalysts behind this one is that OTC Markets has the entire market cap is just under $375k. This one just did a 1 for 20 reverse split back in June which certainly lightened the load a bit on this one for traders.

Our subscribers benefited as they got our timely alert that has produced gains of 350% and counting. Judging from the latest news out of the company and its low market cap, there could be a lot more room for ASTI to run.First up, a little background on Ascent Solar. It’s a former NASDAQ Big Board that got kicked down to the OTC Markets after being unable to maintain its listing. Based in Colorado, the company 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.Interest in the company kicked off last week at the 2017 International Consumer Electronics Show (CES) show in Las Vegas where its EnerPlex brand was well received. Ascent's Brad Brochocki said:

"Much like last year, we wowed the 2017 CES trade show audience with what we believed is the best in mobile power. Visitors to our booth got a glimpse of our expanded suite of EnerPlex consumer products, as well as some of Ascent Solar's loftier endeavors -- such as the Aerospace and Military exhibit. Overall, it was an amazing showing with Ascent Solar once again demonstrating our ability to push the boundaries of technological innovation in thin-film solar."

Then Ascent announced that it secured a major contract from an Asian customer to supply its high-voltage, superlight thin-film module for an advanced aerospace application. The company said that "after lengthy and vigorous testing and validation for over 2 years, the customer is now making commercial size orders. They are impressed with Ascent's technology, the team and the unique offerings of monolithically-integrated thin-film modules. The total contract value is approximately $516K, and product will be delivered throughout the year." CEO Victor Lee added:

"This is by far the single largest PV sales contract in the corporate history of Ascent Solar. While the contract is significant in value, it underscores the power of Ascent's technology to address these rapidly emerging and growing markets. We have noted previously that Ascent's thin-film technology produces modules with the highest power-to-weight ratio. For aerospace and space applications, this characteristic is incredibly important. Additionally, the flexibility to integrate the modules into different form factors and applications, makes our technology suitable for this growing market. This contract is only the 'tip of the iceberg' as the project, if successfully launched, is expected to be rolled out on a much larger scale in the near future."

But the big news from last week was that CEO Victor Lee and an entity he controls agreed to swap debt for restricted stock. Ascent issued 333.33 million shares of Ascent Solar's restricted Common Stock in exchange for Tertius Financial Group Pte. Ltd. ("TFG"), a Singapore based entity controlled and 50% owned by Ascent's President & CEO, Victor Lee, canceling its Promissory Note of $600K. This is a big vote of confidence in Ascent and removes the uncertainty of dilution and more shares flooding the market. It certainly looks like the selling pressure is over and that's a big part of the reason why the stock is climbing up the charts. CEO Victor Lee said:

"TFG has been an investor and shareholder in Ascent Solar, through its affiliate TFG Radiant Investment Group, since August 2011 and has never sold a single share of stock. Over the last 5 years, TFG alone has committed approximately $10M to Ascent. This was done, despite an extremely challenging environment for solar module manufacturers that has resulted in dozens of bankruptcies of other competitive solar companies. Our further commitment today is a strong testament to our belief in the Company, the technology, the staff and the entire management team. More importantly, it underscores our confidence in the strategy and vast potential of Ascent's ultra-lightweight, monolithically-integrated and flexible thin-film modules. Both I and TFG are committed to the long term success of Ascent Solar."

Currently trading with a market cap of just $1.5 million, ASTI has turned into a microcap runner overnight as the worst looks to be behind the company. We like what we're seeing from the company and its CEO Victor Lee. While we have been critical of some of his moves in the past, he certainly believes in ASTI and is putting his money where his mouth is. It's a big sign of confidence in the company and should reassure Ascent's shareholder base. We will be updating our subscribers as soon as we know more. For timely alerts on ASTI and other hot microcaps, sign up below!Disclosure: We have previously been compensated a fee of seven thousand five hundred usd regarding ASTI by a non affliated third party, Upstate Webwriters, Inc. This agreement has since expired.

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