Ascent Solar Technologies Inc (NASDAQ:ASTI)

CAPS Rating: 1 out of 5

A development stage company that was formed to commercialize certain photovoltaic PV technology developed by ITN for extraterrestrial, terrestrial, and near-space applications.

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Member Avatar SmartAce (99.86) Submitted: 9/2/2014 3:45:54 PM : Underperform Start Price: $2.92 ASTI Score: +10.73

Oh, yeah, Jack Lime? When I'm done with you, my mom's gonna pick me up and take me home.
Brick

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Member Avatar jed71 (44.07) Submitted: 8/29/2014 12:47:35 PM : Underperform Start Price: $2.59 ASTI Score: -0.65

Would you like to own a equity in a company with incredibly weak financials in an industry rife with questionable firms? Well then have I got a deal for you!! I really do want to see solar succeed as an industry – I truly do. I think solar has a long ways to go to be viable but I very much hope the industry is able to evolve and eventually wean itself from the subsidies on which it relies. Unfortunately, there is so much to dislike about many of these firms, they many times make a great selection for anyone who likes to play the short side in Caps.

Ascent Technology (ASTI) is like so many solar firms that have come (and gone) before it. Full of hope and possibilities, but quite weak on results and follow through. This is my second red thumb on this firm, and quite obviously, I removed my first way too early. ASTI has gotten a bit of a breath of life today with an astounding jump of 42% on pretty much no news. It looks to be something of a dead cat bounce but I guess we will see. I am relying more on my ability to review financials and SEC filings than on any sort of technical analysis so this could certainly break the wrong way on me short term. Here are two snippets from recent news announcements :

“Co announced that its board of directors has approved a one-for-ten reverse stock split of the co's common stock to become effective at 5 p.m., ET, August 26, 2014. The reverse stock split is intended to increase the per share trading price of the co's common stock to satisfy the $1.00 minimum bid price requirement for continued listing on the NASDAQ Capital Market.”

“Ascent Solar Announces Termination of $32 Million Secured Convertible Debt Agreement: Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer and manufacturer of state-of-the-art, flexible thin-film photovoltaic modules integrated into the company's EnerPlex(TM) series of consumer products, announced today the transaction contemplated by the Securities Purchase Agreement announced on July 21, 2014 has been terminated. A pre-condition to the closure of the transaction was for Ascent to obtain a consent from a third party under an existing financing agreement. This consent could not be obtained on terms that were mutually agreeable to all parties concerned, resulting in the Company and the prospective investors having to terminate the agreement.”

If you follow the charts, the stock continued to plummet after the reverse split and this looks like a bit of a relief rally after that plummet. The second article referenced shows they had a consortium of investors planning a $32MM investment that completely fell through. In the interim, they have been able to obtain $4MM in much needed funding from their largest investor. Note that investor paid $0.33 per share which post reverse split would be $3.30. One has to wonder if their largest investor was simply protecting their investment $$ from descending into bankruptcy, which, in my view, would have occurred without their last minute rescue.

Even with the $4MM, the financials are absolutely atrocious. Huge ($247MM) accumulated deficit and consistent GAAP losses of approx ($30MM) per year. Cash burn has also been consistently between the $20-30MM per year. With the addition of the $4MM in cash, I am seeing that they maybe have $7MM in cash total. With a cash burn of just at $6MM per quarter, they are going to need another infusion, and fast. I know there are a lot of folks who are fans of this stock, but I just don’t see how they will ever get themselves out of the hole they have dug for themselves. For entertainment value only, I thought I would provide a snippet from the liquidity statement in the newest 10-Q:

“The Company has commenced production at its manufacturing facility. The Company does not expect that sales revenue and cash flows will be sufficient to support operations and cash requirements until we have fully implemented our new consumer products strategy. During the first half of 2014, the Company used $12.7 million in cash for operations. For the remainder of 2014, the Company expects to incur a base level of maintenance capital expenditures and relatively minor improvements to the existing asset base along with an increased sales effort. As of June 30, 2014 the Company's primary significant long term obligation consists of a note payable of $6.2 million to a financial institution secured by a mortgage on its headquarters and manufacturing building in Thornton, Colorado. Total payments of $0.3 million, including principal and interest, on $6.2 million note payable will come due in the remainder of 2014.”

You have to read between the lines a little here, but it’s pretty obvious they’re trying to say they need another ~$13MM for the rest of the year. I personally think this company is going to have to sell existing shareholders down the river to get any more financing. In the event they do convince someone to give them the capital, I don’t see how they are even close to stabilized or out of financial trouble. Long term, I think it’s quite obvious where this is headed. LDKSY anyone?

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Member Avatar timc1981 (99.01) Submitted: 11/26/2013 11:13:22 AM : Outperform Start Price: $7.50 ASTI Score: -76.23

Penny stock...looks like it's around it's support level right now.

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Member Avatar Sicb (< 20) Submitted: 10/18/2013 12:16:35 PM : Underperform Start Price: $9.72 ASTI Score: +88.57

Ascent Solar Technologies, Inc. (Ascent) is a development stage company formed to commercialize flexible photovoltaic (PV) modules using a technology. The Company’s manufacturing process deposits multiple layers of materials, including a thin film of copper-indium-gallium-diselenide (CIGS) semiconductor material, on a flexible, lightweight, plastic substrate and then laser patterns the layers to create interconnected PV cells, or PV modules, in a process known as monolithic integration. On August 12, 2011, the Company completed a strategic alliance with TFG Radiant Investment Group Ltd. and its affiliates. The Company manufactures its products by affixing a thin CIGS layer to a flexible, plastic substrate, and the Company uses monolithic integration techniques that enable it to form complete PV modules without engaging in back end assembly of inter-cell connections. It targets market, which include BIPV/BAPV, defense and portable power, transportation, and space and near-space.

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Member Avatar alfonzomurray01 (< 20) Submitted: 12/25/2012 5:15:00 AM : Outperform Start Price: $6.91 ASTI Score: -102.99

Solar and wind the next sliced bread.

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Member Avatar safaridan (< 20) Submitted: 2/13/2012 1:08:13 PM : Outperform Start Price: $7.99 ASTI Score: -115.69

Alternative energy stocks have nowhere to go but up - and investment will increase as the global economy stabilizes.

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Member Avatar Berishtimes (< 20) Submitted: 9/28/2011 4:27:15 PM : Underperform Start Price: $7.30 ASTI Score: +135.75

Oh My Gosh! Free CAPS points!

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Member Avatar KimLanners (< 20) Submitted: 3/27/2011 2:55:44 PM : Outperform Start Price: $26.70 ASTI Score: -142.79

semis 2011

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Member Avatar ayaghsizian (97.69) Submitted: 1/11/2011 3:04:32 PM : Outperform Start Price: $38.10 ASTI Score: -150.72

no opinion yet

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Member Avatar bg019818 (31.66) Submitted: 10/20/2010 7:26:40 PM : Outperform Start Price: $45.80 ASTI Score: -163.85

flexible photovoltaic (PV) modules

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Member Avatar randomtask16 (93.13) Submitted: 10/12/2010 11:22:08 PM : Underperform Start Price: $58.50 ASTI Score: +166.16

Certification should work out well in time, but for now a pullback is in order.

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Member Avatar binv271828 (< 20) Submitted: 9/8/2010 7:43:51 PM : Outperform Start Price: $21.09 ASTI Score: -177.39

asti .... spumante?
Where is outoffocus, there is some champagne that needs to be popped :)

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Member Avatar kayceygirl (83.04) Submitted: 8/14/2010 1:29:08 AM : Outperform Start Price: $22.90 ASTI Score: -175.23

This is one of my STARZ.
Here is the thought process on this STAR:
a) Divided rate over Zero
b) 3 Year Beta between -5 & +3
c) 15% + Insider ownership
d) No greater than -50% Growth rate for the last 3 years (tought= last couple of years so goo that insiders are still owning the stocks)
e) Current CAPS rating between 3 Stars & 5 Stars
Open to all Industries and Sectors screened this down to just 250 stocks. I like round numbers. 12 of them I already own through other screening tools. I tend to be somewhat conservative but looking for 3 things at this point in my investing:
1. Stability & Strength
2. Yield and Modest Growth
3. Strong Position within a sector regardless of whether the entire sector is strong or not. Each sector has to perform to some degree for the whole world economy to function. I am looking for 5 or more years down the road, ROI, and Growth.
Not looking for rockets, just stars. This is a Star!!

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Member Avatar Dormin113 (< 20) Submitted: 6/15/2010 12:05:03 PM : Outperform Start Price: $29.60 ASTI Score: -172.07

Speculative play on an unproven company. Sell at sub-3.

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Member Avatar binve (< 20) Submitted: 6/11/2010 11:15:26 AM : Outperform Start Price: $30.10 ASTI Score: -175.72

Here we go, green thumb on ASTI

First, lets get the obvious bad stuff out of the way:

- Are they making money? : NO
- Are they even close? : NO
- How much are they losing? : LOTS
- Define lots? : Much larger than wheelbarrow size, Larger than dump truck size, Not quite freighter size

... okay, so they aren't profitable. So what gives with the green thumb?

I am a *huge* fan of thin-film solar technology. All of the major upcoming advances in solar will be in this arena. It is a very nice compromise between efficiency and cost and will continue to get better over time (much better efficiency/cost ratio than tradtional cells when the technology fully matures). The efficiency is really not that bad either. Current ASTI thin film efficiency is 10-12%, which is on par with medium grade terrestrial traditional crystalline cells, whereas state of the art triple-junction Gallium Arsenide PV cells used in high efficiency space applications (about as expensive as you get) are at about 26-29%. But there is over 2 orders of magnitude in cost difference.

I like ASTIs product lines. They are taking their thin film arrays and laminating them onto structural sheets to be used in building construction (a variation on the solar "shingle" theme). They have thin film built into flexible membranes for use on something like a backpack (that is awesome). And they are getting into the military and space applications. I work in the Aerospace industry and solar panels are heavy. But the time you connect/weld all the junctions, bond down the wafers, apply the coverglass, bond down to a stuctural panel to support the weight and still have a high enough natural frequency to avoid coupling with the Attitude Control System, Solar panels are signifant mass fractions of an overall satellite. So high efficiency thin film not only provides a raw cost savings for satellite manufactures, but also mass savings (mass = cost and is a premium for satellite design). I really believe the space industry will be heading this way in the future, and large scale GEO communications satellites use a lot of solar cells.

So I am very bullish long term.

In the short term, I think ASTI's chart is very constructive for a bottom of some sort here. See this chart that I prepared: http://1.bp.blogspot.com/_OpWmYZm7O8I/TBET01BSdRI/AAAAAAAAC2k/Ht_IZYL5ZjA/s1600/0binve-001-asti.png.

I like the long term prospects, I like the short term chart. Hence the green thumb.

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Member Avatar andy1233 (< 20) Submitted: 1/10/2010 8:22:07 AM : Underperform Start Price: $61.00 ASTI Score: +170.17

Look for this stock, will keep going up this year. It will have a short term pop from here.

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Member Avatar derrickhand300 (< 20) Submitted: 10/3/2009 5:17:22 AM : Outperform Start Price: $62.90 ASTI Score: -190.94

This stock is ramping up production finally...look for profits to ramp up also

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Member Avatar TooPoor2 (< 20) Submitted: 9/1/2009 2:39:27 PM : Outperform Start Price: $53.30 ASTI Score: -195.96

Recent certification of modules is milestone and will allow the company to move forward with industry cert testing. Much potential and applications of their product is almost unlimited. Ready to roll!

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Member Avatar hideeho100 (< 20) Submitted: 8/1/2009 7:37:37 AM : Outperform Start Price: $79.20 ASTI Score: -198.66

Look for this stock to keep ging up over the next year. We will have a short term pop from here. The stock is just about book value, but the company is about to report earnings from its frist production line. Within 1 year, production ramp-up will go from 1.5 MW to 31.5 MW. Ascent Solar has govenment contract for guarenteed near space applications and plenty of other partners already signed up to buy all their capacity for years to come at great margins. Ascent is the only CIGS on plastic maker in the world and can make the lightest, most efficent solar cells in the world because they are on plastic. Ascent's product will be a game changer and a disruptive technology to silicon based products. Watch for a possible buyout on this company at around $30 per share in the next year.

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Member Avatar rszeluga (< 20) Submitted: 6/19/2009 9:48:51 AM : Outperform Start Price: $71.90 ASTI Score: -214.23

New Production will manufacture Solar Panels that can be molded into building material such as paneling and roofing material. It just seems like a win-win situation.

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