Ascent Solar Technologies Inc (OTCMKTS:ASTI) Pos

Ascent Solar Technologies Inc (OTCMKTS:ASTI) Posts Strong Results
By Alex Carlson / in Energy & Solar, Momentum Stocks, Stocks / on Sunday, 13 Mar 2016 04:20 AM / 1 Comment / 101 views

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Many investors were discouraged after shares of Ascent Solar Technologies Inc (OTCMKTS:ASTI) got delisted from NASDAQ. However, that wasn’t the case with us at Insider Financial. We know from past experience that many delisted names are able to find a loyal shareholder base on the OTC Markets. Many penny stock investors go in search of former NYSE and NASDAQ names for their portfolios in the hopes that the companies regain their footing and become winners again. We think this is certainly the case with Ascent Solar.

Helping to drive the excitement in shares of ASTI is the company’s recent earnings report. ASTI delivered on multiple fronts. First, the company was able to complete a debt restructuring exercise and successfully redeemed substantially all its outstanding Senior Secured Convertible Notes. Ascent Solar secured a new equity investment of $2.8M Series EConvertible Preferred Stock and implemented a Committed Equity Line which will provide operating capital to the company from time to time over the next 3 years.

Second, the numbers were a big improvement over last year. ASTI posted its highest recorded quarterly net revenue of $2.4M in the fourth quarter of 2015, an approximately 90% increase over third quarter of $1.25M. On a full year basis, the company reported net revenue of $6.5M, a growth of approximately 23% over 2014. Specifically, the EnerPlex brand consumer product line continued to realize growing consumer acceptance, contributing nearly the entirety of the fourth quarter revenue and approximately 90% of the full year 2015 revenue. CEO Victor Lee struck an optimistic tone for 2016.

“I am optimistic about the Company’s future after delivering record-breaking revenue for yet another year. With the ongoing expansion of our distribution channels, I am extremely confident to set another significant revenue milestone of over $10M for 2016. In particular, the achievement of the listing of our products with the GSA in December 2015 after a year of hard work, and our expanded global retail networks, should support our continued growth.”

Third, Enerplex continues to perform well. EnerPlex continued its retail footprint expansion with The Cellular Connection (TCC), the nation’s largest Verizon Premium Wireless retailer, from 300 TCC stores to approximately 500 stores nationwide. EnerPlex is now available in over 1,000 retail locations globally. Enerplex also launched with GovX.com, the number one online shopping destination for military, law enforcement and government agencies.

Fourth, ASTI has introduced two new high voltage-low current products specifically designed to address the needs of the high altitude aerospace market. Photovoltaic modules for this market must deliver high voltage and power while maintaining low current and for the least possible weight. Ascent’s new products provide voltages above 270 volts in a single, lightweight unit. Both products are roughly 3/4th of a square meter and differ in shape to accommodate various applications. Because these fully laminated products, utilize the company’s flexible, monolithically integrated copper-indium-gallium-diselenide (CIGS) photovoltaics, they can conform to the shape of wing and airship hull surfaces. They also retain sufficient environmental protection to keep the solar module safe and functional during all aspects of the mission.

Fifth, in early February ASTI announced that the company had achieved a major breakthrough in power-to-weight ratio for its superlight solar module, delivering over 1700 watts of power per kilogram, operating at AM0, technically known as the space environment. At this performance, Ascent’s superlight module would weigh 66% less than a comparable PV system using the highest-quality crystalline silicon and with far less design complexity. The elimination of two-thirds of the weight is a critical improvement for satellites, space vehicles and space stations.

Sixth, Ascent Solar modules can be directly integrated into consumer products and off-grid applications, as well as aerospace and building integrated applications. The company has a competitive advantage in the solar products space due its light weight CIGs technology, as opposed to crystalline silicon technology.

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We think the worst is behind Ascent Solar. Judging by Mr. Market’s reaction to last week’s earnings report, we think others are getting the exact same message as well. We will be updating Insider Financial as soon as we know more. For continuing coverage on ASTI and our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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