10-Q Filing

Ascent Solar Technologies, Inc. CIK: 1350102 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001350102-15-000044`
Period End Date	20150331
Filing Date	20150515
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	asti-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 37 Cash Flow Statement 68

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$174.84K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.32M	USD	Point-in-time
Restricted cash - short term	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$24.00M	USD	Point-in-time
Restricted cash - short term	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$24.00M	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$1.60M	USD	Point-in-time
Patents, Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$122.73K	USD	Point-in-time
Patents, Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$132.57K	USD	Point-in-time
Trade receivables, net	`AccountsReceivableNetCurrent`	$2.78M	USD	Point-in-time
Inventories	`InventoryNet`	$2.43M	USD	Point-in-time
Inventories	`InventoryNet`	$3.85M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.95M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.66M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$35.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$31.57M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property, Plant and Equipment:	`PropertyPlantAndEquipmentGross`	$37.62M	USD	Point-in-time
Property, Plant and Equipment:	`PropertyPlantAndEquipmentGross`	$37.60M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$24.37M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$22.94M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$14.66M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$13.25M	USD	Point-in-time
Restricted cash - long term	`RestrictedCashAndCashEquivalentsNoncurrent`	$4.00M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Restricted cash - long term	`RestrictedCashAndCashEquivalentsNoncurrent`	$4.02M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Patents, net of amortization of $132,572 and $122,731, respectively	`FiniteLivedIntangibleAssetsNet`	$1.31M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Patents, net of amortization of $132,572 and $122,731, respectively	`FiniteLivedIntangibleAssetsNet`	$1.41M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	18.21M	shares	Point-in-time
Investment in joint venture	`EquityMethodInvestments`	$320.00K	USD	Point-in-time
Investment in joint venture	`EquityMethodInvestments`	$320.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	26.58M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.58M	shares	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$395.67K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	18.21M	shares	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$449.14K	USD	Point-in-time
Total Other Assets	`OtherAssets`	$6.08M	USD	Point-in-time
Total Other Assets	`OtherAssets`	$6.14M	USD	Point-in-time
Total Assets	`Assets`	$55.92M	USD	Point-in-time
Total Assets	`Assets`	$50.97M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.57M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.93M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.74M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$331.93K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$302.21K	USD	Point-in-time
Current portion of convertible note payable, net of discount of $8,202,450 and $7,607,492, respectively	`ConvertibleNotesPayableCurrent`	$1.19M	USD	Point-in-time
Current portion of convertible note payable, net of discount of $8,202,450 and $7,607,492, respectively	`ConvertibleNotesPayableCurrent`	$364.09K	USD	Point-in-time
Current portion of litigation settlement	`LitigationReserveCurrent`	$493.73K	USD	Point-in-time
Current portion of litigation settlement	`LitigationReserveCurrent`	$505.21K	USD	Point-in-time
Series D preferred stock, net of discount of $0 and $1,194,222	`SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares`	-	USD	Point-in-time
Series D preferred stock, net of discount of $0 and $1,194,222	`SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares`	$224.78K	USD	Point-in-time
Short term embedded derivative liabilities	`EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiabilityCurrent`	$4.43M	USD	Point-in-time
Short term embedded derivative liabilities	`EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiabilityCurrent`	$5.37M	USD	Point-in-time
Make-whole dividend liability	`EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability`	$849.56K	USD	Point-in-time
Make-whole dividend liability	`EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability`	$849.56K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$11.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.31M	USD	Point-in-time
Accrued Litigation Settlement, net of current portion	`LitigationReserveNoncurrent`	$880.76K	USD	Point-in-time
Accrued Litigation Settlement, net of current portion	`LitigationReserveNoncurrent`	$750.07K	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$5.69M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$5.76M	USD	Point-in-time
Long-Term Convertible Note, net of discount of $17,952,871 and $22,930,946. respectively	`ConvertibleDebtNoncurrent`	$1.10M	USD	Point-in-time
Long-Term Convertible Note, net of discount of $17,952,871 and $22,930,946. respectively	`ConvertibleDebtNoncurrent`	$2.60M	USD	Point-in-time
Warrant Liability	`WarrantsAndRightsOutstanding`	$18.23M	USD	Point-in-time
Warrant Liability	`WarrantsAndRightsOutstanding`	$15.87M	USD	Point-in-time
Long Term Embedded Derivative Liabilities	`EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiabilityNoncurrent`	$13.34M	USD	Point-in-time
Long Term Embedded Derivative Liabilities	`EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiabilityNoncurrent`	$11.76M	USD	Point-in-time
Accrued Warranty Liability	`StandardProductWarrantyAccrualNoncurrent`	$136.00K	USD	Point-in-time
Accrued Warranty Liability	`StandardProductWarrantyAccrualNoncurrent`	$147.00K	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.0001 par value, 450,000,000 shares authorized; 26,580,314 and 18,211,104 shares issued and outstanding, respectively	`CommonStockValue`	$1.82K	USD	Point-in-time
Common stock, $0.0001 par value, 450,000,000 shares authorized; 26,580,314 and 18,211,104 shares issued and outstanding, respectively	`CommonStockValue`	$2.66K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$306.95M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$315.54M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$317.07M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$299.28M	USD	Point-in-time
Total stockholders (deficit) equity	`StockholdersEquity`	$-1.52M	USD	Point-in-time
Total stockholders (deficit) equity	`StockholdersEquity`	$7.66M	USD	Point-in-time
Total Liabilities and Stockholders (Deficit) Equity	`LiabilitiesAndStockholdersEquity`	$55.92M	USD	Point-in-time
Total Liabilities and Stockholders (Deficit) Equity	`LiabilitiesAndStockholdersEquity`	$50.97M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Revenue from related parties	`RevenueFromRelatedParties`	$8.05K	USD	1 Quarter
Revenues	`SalesRevenueNet`	$657.64K	USD	1 Quarter
Revenues	`SalesRevenueNet`	$753.06K	USD	1 Quarter
Cost of revenues (exclusive of depreciation shown below)	`CostOfSalesExcludingDepreciation`	-	USD	1 Quarter
Cost of revenues (exclusive of depreciation shown below)	`CostOfSalesExcludingDepreciation`	$1.58M	USD	1 Quarter
Research, development and manufacturing operations (exclusive of depreciation shown below)	`ResearchAndDevelopmentExpense`	$3.82M	USD	1 Quarter
Research, development and manufacturing operations (exclusive of depreciation shown below)	`ResearchAndDevelopmentExpense`	$1.72M	USD	1 Quarter
Selling, general and administrative (exclusive of depreciation shown below)	`SellingGeneralAndAdministrativeExpense`	$2.84M	USD	1 Quarter
Selling, general and administrative (exclusive of depreciation shown below)	`SellingGeneralAndAdministrativeExpense`	$3.04M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.44M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.47M	USD	1 Quarter
Total Costs and Expenses	`CostsAndExpenses`	$8.33M	USD	1 Quarter
Total Costs and Expenses	`CostsAndExpenses`	$7.58M	USD	1 Quarter
Loss from Operations	`IncomeLossFromContinuingOperations`	$-6.92M	USD	1 Quarter
Loss from Operations	`IncomeLossFromContinuingOperations`	$-7.58M	USD	1 Quarter
Other Income, net	`OtherNonoperatingIncomeExpense`	$17.85K	USD	1 Quarter
Other Income, net	`OtherNonoperatingIncomeExpense`	$552.00	USD	1 Quarter
Loss on extinguishment of liabilities	`GainsLossesOnExtinguishmentOfDebt`	$-2.61M	USD	1 Quarter
Loss on extinguishment of liabilities	`GainsLossesOnExtinguishmentOfDebt`	$-351.52K	USD	1 Quarter
Interest expense	`InterestExpenseExcludingWarrantLiability`	$105.48K	USD	1 Quarter
Interest expense	`InterestExpenseExcludingWarrantLiability`	$9.95M	USD	1 Quarter
Deemed interest expense on warrant liability	`InterestExpenseWarrantLiability`	-	USD	1 Quarter
Deemed interest expense on warrant liability	`InterestExpenseWarrantLiability`	$909.09K	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$2.59M	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-735.45K	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$-1.19M	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$-10.87M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-17.79M	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-8.77M	USD	1 Quarter
Deemed dividend on Preferred Stock and accretion of warrants	`PreferredStockDividendsAndOtherAdjustments`	-	USD	1 Quarter
Deemed dividend on Preferred Stock and accretion of warrants	`PreferredStockDividendsAndOtherAdjustments`	$2.92M	USD	1 Quarter
Net Loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-17.79M	USD	1 Quarter
Net Loss applicable to common stockholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-11.69M	USD	1 Quarter
Net Loss Per Share (Basic and diluted) (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.79	USD	1 Quarter
Net Loss Per Share (Basic and diluted) (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-1.77	USD	1 Quarter
Weighted Average Common Shares Outstanding (Basic and diluted) (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.44M	shares	1 Quarter
Weighted Average Common Shares Outstanding (Basic and diluted) (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	6.60M	shares	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-17.79M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.77M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.44M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.47M	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$222.81K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$261.14K	USD	1 Quarter
Amortization of financing costs to interest expense	`AmortizationOfFinancingCosts`	$132.49K	USD	1 Quarter
Amortization of financing costs to interest expense	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
Non-cash interest expense	`StockIssuedDuringPeriodValueIssuedForInterestExpenseExpensePortion`	$560.00K	USD	1 Quarter
Non-cash interest expense	`StockIssuedDuringPeriodValueIssuedForInterestExpenseExpensePortion`	-	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$8.99M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Loss on extinguishment of liabilities	`GainsLossesOnExtinguishmentOfDebt`	$-2.61M	USD	1 Quarter
Loss on extinguishment of liabilities	`GainsLossesOnExtinguishmentOfDebt`	$-351.52K	USD	1 Quarter
Accrued litigation settlement	`IncreaseDecreaseinAccruedLitigation`	$-62.22K	USD	1 Quarter
Accrued litigation settlement	`IncreaseDecreaseinAccruedLitigation`	$-119.21K	USD	1 Quarter
Deemed interest expense on warrant liability	`InterestExpenseWarrantLiability`	-	USD	1 Quarter
Deemed interest expense on warrant liability	`InterestExpenseWarrantLiability`	$909.09K	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$2.59M	USD	1 Quarter
Change in fair value of derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-735.45K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$80.14K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.10M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$316.61K	USD	1 Quarter
Related party receivables and deposits	`IncreaseDecreaseInRelatedPartyReceivablesAndDeposits`	$201.03K	USD	1 Quarter
Related party receivables and deposits	`IncreaseDecreaseInRelatedPartyReceivablesAndDeposits`	-	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.43M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$237.35K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$323.84K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$177.07K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$750.88K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-39.64K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$660.32K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-189.97K	USD	1 Quarter
Warranty reserve	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$11.00K	USD	1 Quarter
Warranty reserve	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$6.06K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.50M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.44M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$-17.04K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.29K	USD	1 Quarter
Interest income on restricted cash	`IncreaseDecreaseInRestrictedCashInterest`	-	USD	1 Quarter
Interest income on restricted cash	`IncreaseDecreaseInRestrictedCashInterest`	$17.85K	USD	1 Quarter
Patent activity costs	`PaymentsToAcquireIntangibleAssets`	$112.23K	USD	1 Quarter
Patent activity costs	`PaymentsToAcquireIntangibleAssets`	$198.39K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-181.35K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-150.38K	USD	1 Quarter
Repayment of debt	`RepaymentsOfBankDebt`	$69.00K	USD	1 Quarter
Repayment of debt	`RepaymentsOfBankDebt`	$49.00K	USD	1 Quarter
Proceeds from issuance of stock and warrants	`ProceedsFromOtherEquity`	$2.50M	USD	1 Quarter
Proceeds from issuance of stock and warrants	`ProceedsFromOtherEquity`	$5.00M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.45M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.93M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.14M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.75M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$174.84K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.32M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.32M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$174.84K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.32M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.56M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.32M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$105.48K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$97.39K	USD	1 Quarter
Non-cash conversions	`Noncashconversions`	$5.48M	USD	1 Quarter
Non-cash conversions	`Noncashconversions`	$3.49M	USD	1 Quarter
Make-whole provision on convertible preferred stock	`Makewholeprovisiononconvertiblepreferredstock`	$2.92M	USD	1 Quarter
Make-whole provision on convertible preferred stock	`Makewholeprovisiononconvertiblepreferredstock`	-	USD	1 Quarter

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