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Ascent Solar Technologies Inc (OTCMKTS:ASTI) Secures New Funding

Ascent Solar Technologies Inc (OTCMKTS:ASTI) Secures New Funding
Written by
Richard Sandle
Published on
March 7, 2017
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Just when everyone had given up on the once heralded Ascent Solar Technologies Inc., the company is beginning to show signs of life. While Ascent Solar Technologies’ stock continues its downfall to now lurk well below the single cent level as a result of investors that have given up on the stock and dumped it every time there is a spike in the price, recent events have made the company seem a bit more viable.Ascent Solar Technologies Inc., a Colorado based company, is a developer and manufacturer of state-of-the-art, lightweight, and flexible thin-film photovoltaic (PV) solutions. Their products are more flexible and affordable than most traditional solar panels, and can be can be integrated into many widely utilized building materials, aerospace applications, and consumer electronics for portable power. The technology can also be adapted for large scale terrestrial solar deployment.On February 14, 2017 Ascent Solar Technologies Inc announced a deal with Hong Kong Boone Group Limited which secured a $20 million investment in the company. The financing involves a Securities Purchase Agreement whereby Ascent Solar will receive the $20 million in proceeds in a series of preferred stock sales to Boone Group Limited commencing in February 2017, to be completed by July of 2017.Hong Kong Boone Group is part of the larger Boone Group, a major, multinational industrial group of companies that is headquartered in Guangzhou City in China. It specializes in industrial control system integration and hydraulic pressure systems. The most interesting thing about the partnership with Hong Kong Boone Group is that it also specializes in the procurement, planning, installation and ongoing maintenance of on-grid solar farm projects in China. This makes the partnership with Ascent Solar Technologies mutually beneficial. The Boone Group provides the necessary funding to continue the solar panel manufacturing operations, and provides an entry into the solar market in China, while Ascent Solar provides the products and technology for the Boone Group to expand its solar farm projects in China. The President and CEO of Ascent Solar, Mr. Victor Lee, said:

"We are more than excited to have secured this new investment from a very knowledgeable strategic partner who understands the value and capabilities of our technology. The Boone Group understands that achieving scale is a significant prerequisite to the success of Ascent, and we look forward to their support in aiding in that endeavor. The funding will provide us with ongoing working capital as we continue to focus on the high value specialty PV market. The new investment reinforces our investor's belief in Ascent's strategy and the tremendous potential of the Company's lightweight flexible CIGS solar panel."

To further solidify Ascent Solar Technologies’ commitment to continuing operations and improving the company’s situation, it has recently obtained a certification by Platinum Registration, Inc., as a company that has developed, implemented and maintains a Quality Management System (QMS), and conforms to all the requirements of the ISO 9001:2015 international standard. The certification encompasses the design, development and manufacturing of solar power systems, and consumer electronics and accessories, both solar and non-solar based. This enables the company to pursue the highly specialized military and aerospace markets. Furthermore, the company has elected to concentrate all its resources into its core strength, the development and manufacturing in greater scale the high-value specialty PV market.

The price chart for Ascent Solar Technologies’ stock has nothing positive to show. The financial statements up to now aren’t much better. Fourth quarter financials for 2016 are yet to be reported. Market capitalization now stands at $3.86 million. with 1.54 Billion shares outstanding as of March 6, 2017.The one very positive thing that can be gleaned from the latest press releases for Ascent Solar Technologies is that someone, or a collective group, has decided to invest $20 million in the company. That is not a negligible amount of money by any standards. This someone, or a collective group, obviously has faith in the company, or knows something that everyone else doesn’t. And lest we forget that less than 2 years ago, the stock was trading at about $30.00, down from a high that was well into three figures. At its current price of $.0025, there’s not much downside risk left in the stock. Consequently, the upside potential is looking better.We will be updating our subscribers as soon as we know more. For the latest updates on ASTI, 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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