10-Q Filing

Ascent Solar Technologies, Inc. CIK: 1350102 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001350102-16-000156`
Period End Date	20160331
Filing Date	20160512
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	asti-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 30 Cash Flow Statement 66

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$174.84K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$326.22K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$350.32K	USD	Point-in-time
Trade receivables, net of allowance for doubtful accounts of $77,339 and $60,347, respectively	`AccountsReceivableNetCurrent`	$1.99M	USD	Point-in-time
Trade receivables, net of allowance for doubtful accounts of $77,339 and $60,347, respectively	`AccountsReceivableNetCurrent`	$1.52M	USD	Point-in-time
Other receivable	`OtherReceivablesNetCurrent`	$2.00M	USD	Point-in-time
Other receivable	`OtherReceivablesNetCurrent`	-	USD	Point-in-time
Inventories	`InventoryNet`	$4.27M	USD	Point-in-time
Inventories	`InventoryNet`	$4.15M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.66M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.39M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.69M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$60.35K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.99M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$77.34K	USD	Point-in-time
Property, Plant and Equipment:	`PropertyPlantAndEquipmentGross`	$37.58M	USD	Point-in-time
Property, Plant and Equipment:	`PropertyPlantAndEquipmentGross`	$37.58M	USD	Point-in-time
Patents, Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$182.17K	USD	Point-in-time
Patents, Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$169.63K	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$28.48M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$29.85M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$9.09M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$7.73M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Patents, net of amortization of $182,171 and $169,626, respectively	`FiniteLivedIntangibleAssetsNet`	$1.57M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Patents, net of amortization of $182,171 and $169,626, respectively	`FiniteLivedIntangibleAssetsNet`	$1.62M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$98.38K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$105.31K	USD	Point-in-time
Total Other Assets	`OtherAssets`	$1.67M	USD	Point-in-time
Total Other Assets	`OtherAssets`	$1.72M	USD	Point-in-time
Total Assets	`Assets`	$19.14M	USD	Point-in-time
Total Assets	`Assets`	$18.75M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	155.20M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	235.61M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.63M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.44M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	155.20M	shares	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.71M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	235.61M	shares	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.01M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$348.72K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$354.51K	USD	Point-in-time
Current portion of convertible note payable, net of discount of $0 and $22,484, respectively	`ConvertibleNotesPayableCurrent`	$30.04K	USD	Point-in-time
Current portion of convertible note payable, net of discount of $0 and $22,484, respectively	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
September 2015 fixed rate convertible notes, net of discount of $825,000 and $1,237,500, respectively	`FixedConvertibleNotesPayableCurrent`	$1.27M	USD	Point-in-time
September 2015 fixed rate convertible notes, net of discount of $825,000 and $1,237,500, respectively	`FixedConvertibleNotesPayableCurrent`	$811.77K	USD	Point-in-time
Promissory Note	`PromissoryNoteCurrent`	$515.47K	USD	Point-in-time
Promissory Note	`PromissoryNoteCurrent`	$500.49K	USD	Point-in-time
Current portion of litigation settlement	`LitigationReserveCurrent`	$541.25K	USD	Point-in-time
Current portion of litigation settlement	`LitigationReserveCurrent`	$553.83K	USD	Point-in-time
Short term embedded derivative liabilities	`EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiabilityCurrent`	$1.65M	USD	Point-in-time
Short term embedded derivative liabilities	`EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiabilityCurrent`	$613.83K	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`	$10.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$15.12M	USD	Point-in-time
Accrued Litigation Settlement, net of current portion	`LitigationReserveNoncurrent`	$196.24K	USD	Point-in-time
Accrued Litigation Settlement, net of current portion	`LitigationReserveNoncurrent`	$339.50K	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$5.36M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$5.44M	USD	Point-in-time
Accrued Warranty Liability	`StandardProductWarrantyAccrualNoncurrent`	$245.65K	USD	Point-in-time
Accrued Warranty Liability	`StandardProductWarrantyAccrualNoncurrent`	$264.00K	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; 235,609,606 and 155,196,865 shares issued and outstanding, respectively	`CommonStockValue`	$15.52K	USD	Point-in-time
Common stock, $0.0001 par value, 450,000,000 shares authorized; 235,609,606 and 155,196,865 shares issued and outstanding, respectively	`CommonStockValue`	$23.56K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$347.64M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$353.80M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-345.08M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-355.61M	USD	Point-in-time
Total stockholders (deficit) equity	`StockholdersEquity`	$2.58M	USD	Point-in-time
Total stockholders (deficit) equity	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Total Liabilities and Stockholders (Deficit) Equity	`LiabilitiesAndStockholdersEquity`	$19.14M	USD	Point-in-time
Total Liabilities and Stockholders (Deficit) Equity	`LiabilitiesAndStockholdersEquity`	$18.75M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$710.22K	USD	1 Quarter
Revenues	`SalesRevenueNet`	$657.64K	USD	1 Quarter
Cost of revenues (exclusive of depreciation shown below)	`CostOfSalesExcludingDepreciation`	$1.58M	USD	1 Quarter
Cost of revenues (exclusive of depreciation shown below)	`CostOfSalesExcludingDepreciation`	$2.16M	USD	1 Quarter
Research, development and manufacturing operations (exclusive of depreciation shown below)	`ResearchAndDevelopmentExpense`	$1.69M	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`	$2.99M	USD	1 Quarter
Selling, general and administrative (exclusive of depreciation shown below)	`SellingGeneralAndAdministrativeExpense`	$2.84M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.44M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.38M	USD	1 Quarter
Total Costs and Expenses	`CostsAndExpenses`	$8.21M	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`	$-7.50M	USD	1 Quarter
Other Income/(Expense), net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other Income/(Expense), net	`OtherNonoperatingIncomeExpense`	$17.85K	USD	1 Quarter
Interest expense	`InterestExpenseExcludingWarrantLiability`	$2.25M	USD	1 Quarter
Interest expense	`InterestExpenseExcludingWarrantLiability`	$9.95M	USD	1 Quarter
Deemed interest expense on warrant liability	`InterestExpenseWarrantLiability`	$909.09K	USD	1 Quarter
Deemed interest expense on warrant liability	`InterestExpenseWarrantLiability`	-	USD	1 Quarter
Change in fair value of derivatives and gain/(loss) on extinguishment of liabilities, net	`GainLossOnDerivativeAndExtinguishmentOfDebtNet`	$-773.24K	USD	1 Quarter
Change in fair value of derivatives and gain/(loss) on extinguishment of liabilities, net	`GainLossOnDerivativeAndExtinguishmentOfDebtNet`	$-23.47K	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$-3.02M	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$-10.87M	USD	1 Quarter
Net Loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-17.79M	USD	1 Quarter
Net Loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-10.53M	USD	1 Quarter
Net Loss Per Share (Basic and diluted) (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	1 Quarter
Net Loss Per Share (Basic and diluted) (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.79	USD	1 Quarter
Weighted Average Common Shares Outstanding (Basic and diluted) (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	194.24M	shares	1 Quarter
Weighted Average Common Shares Outstanding (Basic and diluted) (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	22.44M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-17.79M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.53M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.44M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.38M	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$217.84K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$261.14K	USD	1 Quarter
Amortization of financing costs to interest expense	`AmortizationOfFinancingCosts`	$80.09K	USD	1 Quarter
Amortization of financing costs to interest expense	`AmortizationOfFinancingCosts`	$132.49K	USD	1 Quarter
Non-cash interest expense	`PaidInKindInterest`	$54.38K	USD	1 Quarter
Non-cash interest expense	`PaidInKindInterest`	$560.00K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$8.99M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$1.92M	USD	1 Quarter
Accrued litigation settlement	`IncreaseDecreaseinAccruedLitigation`	$-119.21K	USD	1 Quarter
Accrued litigation settlement	`IncreaseDecreaseinAccruedLitigation`	$-130.69K	USD	1 Quarter
Deemed interest expense on warrant liability	`InterestExpenseWarrantLiability`	$909.09K	USD	1 Quarter
Deemed interest expense on warrant liability	`InterestExpenseWarrantLiability`	-	USD	1 Quarter
Change in fair value of derivatives and gain/(loss) on extinguishment of liabilities, net	`GainLossOnDerivativeAndExtinguishmentOfDebtNet`	$-773.24K	USD	1 Quarter
Change in fair value of derivatives and gain/(loss) on extinguishment of liabilities, net	`GainLossOnDerivativeAndExtinguishmentOfDebtNet`	$-23.47K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$80.14K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$16.99K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.10M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-453.45K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-119.89K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.43M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$318.85K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$177.07K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-183.33K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$750.88K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$298.15K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-189.97K	USD	1 Quarter
Warranty reserve	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$11.00K	USD	1 Quarter
Warranty reserve	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-18.35K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.86M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.44M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.29K	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	1 Quarter
Interest income on restricted cash	`IncreaseDecreaseInRestrictedCashInterest`	$17.85K	USD	1 Quarter
Interest income on restricted cash	`IncreaseDecreaseInRestrictedCashInterest`	-	USD	1 Quarter
Patent activity costs	`PaymentsToAcquireIntangibleAssets`	$112.23K	USD	1 Quarter
Patent activity costs	`PaymentsToAcquireIntangibleAssets`	$66.47K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-66.47K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-150.38K	USD	1 Quarter
Payment of debt financing costs	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Payment of debt financing costs	`PaymentsOfFinancingCosts`	$25.00K	USD	1 Quarter
Repayment of debt	`RepaymentsOfBankDebt`	$49.00K	USD	1 Quarter
Repayment of debt	`RepaymentsOfBankDebt`	$78.28K	USD	1 Quarter
Proceeds from Committed Equity Line	`ProceedsFromIssuanceOfPrivatePlacement`	-	USD	1 Quarter
Proceeds from Committed Equity Line	`ProceedsFromIssuanceOfPrivatePlacement`	$1.06M	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`	$5.95M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.45M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$24.11K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.14M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.32M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$174.84K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$326.22K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$350.32K	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`	$174.84K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$326.22K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$350.32K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$139.09K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$97.39K	USD	1 Quarter
Non-cash conversions of preferred stock and convertible notes to equity	`Noncashconversions`	$5.48M	USD	1 Quarter
Non-cash conversions of preferred stock and convertible notes to equity	`Noncashconversions`	$3.44M	USD	1 Quarter

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