10-Q Filing

Ascent Solar Technologies, Inc. CIK: 1350102 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000950170-23-022273`
Period End Date	20230331
Filing Date	20230515
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	asti-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 87 Income Statement 35 Cash Flow Statement 50 Stockholders Equity 13

Balance Sheet 87 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.48M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.34M	USD	Point-in-time
Trade receivables, net of allowance of $26,000 and $26,000, respectively	`AccountsReceivableNetCurrent`	$1.77K	USD	Point-in-time
Trade receivables, net of allowance of $26,000 and $26,000, respectively	`AccountsReceivableNetCurrent`	$94.88K	USD	Point-in-time
Inventories, net	`InventoryNet`	$615.28K	USD	Point-in-time
Inventories, net	`InventoryNet`	$513.06K	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$344.11K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$26.00K	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.51M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$26.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.44M	USD	Point-in-time
Patents, amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$154.22K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.46M	USD	Point-in-time
Patents, amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$159.01K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property, Plant and Equipment:	`PropertyPlantAndEquipmentGross`	$22.64M	USD	Point-in-time
Property, Plant and Equipment:	`PropertyPlantAndEquipmentGross`	$22.59M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$22.06M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$22.04M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Property, Plant and Equipment, net	`PropertyPlantAndEquipmentNet`	$551.66K	USD	Point-in-time
Property, Plant and Equipment, net	`PropertyPlantAndEquipmentNet`	$579.32K	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$4.32M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$4.14M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Patents, net of accumulated amortization of $159,010 and $154,218 respectively	`FiniteLivedIntangibleAssetsNet`	$79.98K	USD	Point-in-time
Patents, net of accumulated amortization of $159,010 and $154,218 respectively	`FiniteLivedIntangibleAssetsNet`	$81.08K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Equity method investment	`EquityMethodInvestments`	$61.38K	USD	Point-in-time
Equity method investment	`EquityMethodInvestments`	$68.08K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.23M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	34.00M	shares	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.21M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	37.49M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	34.00M	shares	Point-in-time
Total other assets	`OtherAssets`	$5.68M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	37.49M	shares	Point-in-time
Total other assets	`OtherAssets`	$5.52M	USD	Point-in-time
Total Assets	`Assets`	$14.56M	USD	Point-in-time
Total Assets	`Assets`	$18.68M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$595.16K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$581.14K	USD	Point-in-time
Related party payables	`AccountsPayableRelatedPartiesCurrent`	$67.16K	USD	Point-in-time
Related party payables	`AccountsPayableRelatedPartiesCurrent`	$5.34K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$888.87K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$748.08K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$927.26K	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$754.66K	USD	Point-in-time
Accrued professional services fees	`AccruedProfessionalFeesCurrent`	$952.57K	USD	Point-in-time
Accrued professional services fees	`AccruedProfessionalFeesCurrent`	$1.16M	USD	Point-in-time
Accrued interest	`AccruedInterestCurrent`	$725.45K	USD	Point-in-time
Accrued interest	`AccruedInterestCurrent`	$559.06K	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$754.17K	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$733.57K	USD	Point-in-time
Current portion of convertible notes	`ConvertibleNotesPayableCurrent`	$2.00M	USD	Point-in-time
Other payable	`NotePayableExcludingConvertibleNoteCurrent`	$250.00K	USD	Point-in-time
Other payable	`NotePayableExcludingConvertibleNoteCurrent`	$250.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.97M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.98M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$3.63M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$3.83M	USD	Point-in-time
Non-current convertible notes, net	`ConvertibleLongTermNotesPayable`	$6.12M	USD	Point-in-time
Non-current convertible notes, net	`ConvertibleLongTermNotesPayable`	$5.27M	USD	Point-in-time
Accrued warranty liability	`StandardProductWarrantyAccrualNoncurrent`	$21.23K	USD	Point-in-time
Accrued warranty liability	`StandardProductWarrantyAccrualNoncurrent`	$21.23K	USD	Point-in-time
Total liabilities	`Liabilities`	$14.09M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.74M	USD	Point-in-time
Commitments and contingencies (Note XX)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note XX)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Series A preferred stock, $.0001 par value; 750,000 shares authorized; 48,100 and 48,100 shares issued and outstanding, respectively ($862,326 and $850,301 Liquidation Preference, respectively)	`PreferredStockValue`	$5.00	USD	Point-in-time
Series A preferred stock, $.0001 par value; 750,000 shares authorized; 48,100 and 48,100 shares issued and outstanding, respectively ($862,326 and $850,301 Liquidation Preference, respectively)	`PreferredStockValue`	$5.00	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 authorized; 37,491,954 and 34,000,812 shares issued and outstanding, respectively	`CommonStockValue`	$3.40K	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 authorized; 37,491,954 and 34,000,812 shares issued and outstanding, respectively	`CommonStockValue`	$3.75K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$451.34M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$452.14M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-447.54M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-453.51M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-9.32K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.02K	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-2.83M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$2.06M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$4.59M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-2.18M	USD	Point-in-time
Total Liabilities and Stockholders Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$18.68M	USD	Point-in-time
Total Liabilities and Stockholders Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$14.56M	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Total Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$566.21K	USD	1 Quarter
Total Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$124.22K	USD	1 Quarter
Costs of revenue	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$532.89K	USD	1 Quarter
Costs of revenue	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$461.80K	USD	1 Quarter
Research, development and manufacturing operations	`ResearchAndDevelopmentExpense`	$1.67M	USD	1 Quarter
Research, development and manufacturing operations	`ResearchAndDevelopmentExpense`	$1.41M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$821.27K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.59M	USD	1 Quarter
Share-based compensation	`AllocatedShareBasedCompensationExpense`	$1.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$16.66K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$25.78K	USD	1 Quarter
Total Costs and Expenses	`CostsAndExpenses`	$2.78M	USD	1 Quarter
Total Costs and Expenses	`CostsAndExpenses`	$5.15M	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-5.03M	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-2.21M	USD	1 Quarter
Other income/(expense), net	`OtherNonoperatingIncomeExpense`	$10.00K	USD	1 Quarter
Interest expense	`InterestExpenseExcludingWarrantLiability`	$1.07M	USD	1 Quarter
Interest expense	`InterestExpenseExcludingWarrantLiability`	$2.09M	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$-2.09M	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$-1.06M	USD	1 Quarter
Income/(Loss) on Equity Method Investments	`IncomeLossFromEquityMethodInvestments`	$-2.00	USD	1 Quarter
Net Income/(Loss)	`NetIncomeLoss`	$-6.08M	USD	1 Quarter
Net Income/(Loss)	`NetIncomeLoss`	$-4.30M	USD	1 Quarter
Net Income/(Loss) Per Share (Basic)	`EarningsPerShareBasic`	$-0.20	USD	1 Quarter
Net Income/(Loss) Per Share (Basic)	`EarningsPerShareBasic`	$-0.17	USD	1 Quarter
Net Income/(Loss) Per Share (Diluted)	`EarningsPerShareDiluted`	$-0.20	USD	1 Quarter
Net Income/(Loss) Per Share (Diluted)	`EarningsPerShareDiluted`	$-0.17	USD	1 Quarter
Weighted Average Common Shares Outstanding (Basic)	`WeightedAverageNumberOfSharesOutstandingBasic`	35.57M	shares	1 Quarter
Weighted Average Common Shares Outstanding (Basic)	`WeightedAverageNumberOfSharesOutstandingBasic`	21.67M	shares	1 Quarter
Weighted Average Common Shares Outstanding (Diluted)	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.67M	shares	1 Quarter
Weighted Average Common Shares Outstanding (Diluted)	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.57M	shares	1 Quarter
Foreign currency translation gain/(loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-7.10K	USD	1 Quarter
Foreign currency translation gain/(loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$6.71K	USD	1 Quarter
Net Comprehensive Income/(Loss)	`ComprehensiveIncomeNetOfTax`	$-6.08M	USD	1 Quarter
Net Comprehensive Income/(Loss)	`ComprehensiveIncomeNetOfTax`	$-4.30M	USD	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income/(loss)	`NetIncomeLoss`	$-6.08M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$-4.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.66K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$25.78K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$1.40M	USD	1 Quarter
Operating lease asset amortization	`OperatingLeaseAssetAmortization`	$182.56K	USD	1 Quarter
Operating lease asset amortization	`OperatingLeaseAssetAmortization`	$168.67K	USD	1 Quarter
Accretion of debt discount	`AmortizationOfDebtDiscountPremium`	$2.07M	USD	1 Quarter
Accretion of debt discount	`AmortizationOfDebtDiscountPremium`	$901.65K	USD	1 Quarter
Loss on equity method investment	`IncomeLossFromEquityMethodInvestments`	$-2.00	USD	1 Quarter
Inventory reserve expense	`AdjustmentsToInventoryReserveExpense`	$97.47K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$512.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$93.11K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-4.75K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$45.45K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$411.80K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$1.18M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableExcludingRelatedParty`	$-14.02K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableExcludingRelatedParty`	$-41.56K	USD	1 Quarter
Related party payable	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-61.83K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$-157.48K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$-178.62K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInAccruedInterestPayable`	$15.11K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInAccruedInterestPayable`	$166.39K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-107.51K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$403.82K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.94M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.79M	USD	1 Quarter
Contributions to equity method investment	`PaymentsToAcquireEquityMethodInvestments`	$83.56K	USD	1 Quarter
Payments on purchase of assets	`PaymentsToAcquireProductiveAssets`	$57.45K	USD	1 Quarter
Payments on purchase of assets	`PaymentsToAcquireProductiveAssets`	$48.65K	USD	1 Quarter
Patent activity costs	`ProceedsFromPaymentsToPatentActivity`	$-308.00	USD	1 Quarter
Patent activity costs	`ProceedsFromPaymentsToPatentActivity`	$-5.88K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-141.32K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-54.53K	USD	1 Quarter
Payment of convertible notes	`RepaymentsOfConvertibleDebt`	$147.17K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-147.17K	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-5.14M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.93M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.03M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.48M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.96M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.34M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.03M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.48M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.96M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.34M	USD	Point-in-time
Non-cash conversions of convertible notes to equity	`ConversionOfStockToEquityAmount`	$1.59M	USD	1 Quarter
Non-cash conversions of convertible notes to equity	`ConversionOfStockToEquityAmount`	$9.20M	USD	1 Quarter
Series 1A preferred stock conversion	`SeriesOneAPreferredStockConversion`	$740.00	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$-2.83M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.06M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$4.59M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-2.18M	USD	Point-in-time
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$1.40M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-6.08M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-4.30M	USD	1 Quarter
Foreign Currency Translation Loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$6.71K	USD	1 Quarter
Foreign Currency Translation Loss	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$-7.10K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$-2.83M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.06M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$4.59M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-2.18M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.