10-Q Filing

Ascent Solar Technologies, Inc. CIK: 1350102 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001350102-17-000063`
Period End Date	20170331
Filing Date	20170522
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	asti-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 30 Cash Flow Statement 74

Balance Sheet 77 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$246.12K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$60.35K	USD	Point-in-time
Patents, Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$302.86K	USD	Point-in-time
Patents, Amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$169.63K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$350.32K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.98K	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$326.22K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$130.95K	USD	Point-in-time
Trade receivables, net of allowance for doubtful accounts of $246,116 and $60,347, respectively	`AccountsReceivableNetCurrent`	$549.20K	USD	Point-in-time
Trade receivables, net of allowance for doubtful accounts of $246,116 and $60,347, respectively	`AccountsReceivableNetCurrent`	$15.30K	USD	Point-in-time
Inventories	`InventoryNet`	$1.31M	USD	Point-in-time
Inventories	`InventoryNet`	$2.57M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$553.32K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$983.80K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.92M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.23M	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
Property, Plant and Equipment	`PropertyPlantAndEquipmentGross`	$36.64M	USD	Point-in-time
Property, Plant and Equipment	`PropertyPlantAndEquipmentGross`	$36.64M	USD	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$31.32M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	20.00B	shares	Point-in-time
Less accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$30.98M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	2.00B	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	554.22M	shares	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$5.66M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$5.32M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	2.56B	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	2.56B	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	554.22M	shares	Point-in-time
Patents, net of accumulated amortization of $302,864 and $169,626, respectively	`FiniteLivedIntangibleAssetsNet`	$1.55M	USD	Point-in-time
Patents, net of accumulated amortization of $302,864 and $169,626, respectively	`FiniteLivedIntangibleAssetsNet`	$1.65M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$77.56K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$72.63K	USD	Point-in-time
Total Other Assets	`OtherAssets`	$1.63M	USD	Point-in-time
Total Other Assets	`OtherAssets`	$1.73M	USD	Point-in-time
Total Assets	`Assets`	$8.87M	USD	Point-in-time
Total Assets	`Assets`	$11.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$4.90M	USD	Point-in-time
Related party payables	`AccountsPayableRelatedPartiesCurrent`	$214.90K	USD	Point-in-time
Related party payables	`AccountsPayableRelatedPartiesCurrent`	$223.09K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.47M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.87M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$243.11K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$326.86K	USD	Point-in-time
Notes Payable	`UnsecuredDebtCurrent`	$1.17M	USD	Point-in-time
Notes Payable	`UnsecuredDebtCurrent`	-	USD	Point-in-time
Promissory Notes, net of discount of $15,000 and $0, respectively	`PromissoryNoteCurrent`	$3.79M	USD	Point-in-time
Promissory Notes, net of discount of $15,000 and $0, respectively	`PromissoryNoteCurrent`	$1.43M	USD	Point-in-time
Current portion of litigation settlement	`LitigationReserveCurrent`	$339.48K	USD	Point-in-time
Current portion of litigation settlement	`LitigationReserveCurrent`	$196.22K	USD	Point-in-time
Short term embedded derivative liabilities	`EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiabilityCurrent`	$6.58M	USD	Point-in-time
Short term embedded derivative liabilities	`EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiabilityCurrent`	$4.03M	USD	Point-in-time
Make-whole dividend liability	`EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiabilityCurrentDividendComponent`	$500.18K	USD	Point-in-time
Make-whole dividend liability	`EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiabilityCurrentDividendComponent`	$246.65K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.45M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$5.28M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$5.38M	USD	Point-in-time
Accrued Warranty Liability	`StandardProductWarrantyAccrualNoncurrent`	$176.46K	USD	Point-in-time
Accrued Warranty Liability	`StandardProductWarrantyAccrualNoncurrent`	$168.97K	USD	Point-in-time
Commitments and Contingencies (Notes 4 & 23)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Notes 4 & 23)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.0001 par value, 20,000,000,000 shares authorized; 2,561,968,275 and 554,223,320 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$256.20K	USD	Point-in-time
Common stock, $0.0001 par value, 20,000,000,000 shares authorized; 2,561,968,275 and 554,223,320 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$55.42K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$369.89M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$375.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-389.51M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-383.93M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-13.96M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-13.99M	USD	Point-in-time
Total Liabilities, Mezzanine Equity and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$8.87M	USD	Point-in-time
Total Liabilities, Mezzanine Equity and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$11.61M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Revenues	`SalesRevenueNet`	$710.22K	USD	1 Quarter
Revenues	`SalesRevenueNet`	$280.60K	USD	1 Quarter
Cost of revenues (exclusive of depreciation shown below)	`CostOfSalesExcludingDepreciation`	$2.16M	USD	1 Quarter
Cost of revenues (exclusive of depreciation shown below)	`CostOfSalesExcludingDepreciation`	$1.49M	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`	$1.28M	USD	1 Quarter
Inventory impairment costs	`InventoryWriteDown`	-	USD	1 Quarter
Inventory impairment costs	`InventoryWriteDown`	$363.76K	USD	1 Quarter
Selling, general and administrative (exclusive of depreciation shown below)	`SellingGeneralAndAdministrativeExpense`	$1.76M	USD	1 Quarter
Selling, general and administrative (exclusive of depreciation shown below)	`SellingGeneralAndAdministrativeExpense`	$2.99M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$371.65K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.38M	USD	1 Quarter
Total Costs and Expenses	`CostsAndExpenses`	$5.27M	USD	1 Quarter
Total Costs and Expenses	`CostsAndExpenses`	$8.21M	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-4.99M	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-7.50M	USD	1 Quarter
Other Income, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other Income, net	`OtherNonoperatingIncomeExpense`	$728.49K	USD	1 Quarter
Interest expense	`InterestExpenseExcludingWarrantLiability`	$1.99M	USD	1 Quarter
Interest expense	`InterestExpenseExcludingWarrantLiability`	$2.25M	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`	$673.08K	USD	1 Quarter
Total Other Expense	`NonoperatingIncomeExpense`	$-3.02M	USD	1 Quarter
Total Other Expense	`NonoperatingIncomeExpense`	$-589.79K	USD	1 Quarter
Net Loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-10.53M	USD	1 Quarter
Net Loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-5.58M	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`	$-0.00	USD	1 Quarter
Weighted Average Common Shares Outstanding (Basic and diluted) (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	194.21M	shares	1 Quarter
Weighted Average Common Shares Outstanding (Basic and diluted) (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	1.67B	shares	1 Quarter

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.58M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.53M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$371.65K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.38M	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$79.74K	USD	1 Quarter
Share based compensation	`ShareBasedCompensation`	$217.84K	USD	1 Quarter
Realized loss (gain) on sale of assets	`GainLossOnDispositionOfAssets1`	-	USD	1 Quarter
Realized loss (gain) on sale of assets	`GainLossOnDispositionOfAssets1`	$1.21M	USD	1 Quarter
Amortization of financing costs to interest expense	`AmortizationOfFinancingCosts`	$35.16K	USD	1 Quarter
Amortization of financing costs to interest expense	`AmortizationOfFinancingCosts`	$80.09K	USD	1 Quarter
Write down of previously capitalized inventory	`InventoryWriteDown`	-	USD	1 Quarter
Write down of previously capitalized inventory	`InventoryWriteDown`	$363.76K	USD	1 Quarter
Non-cash interest expense	`PaidInKindInterest`	$54.38K	USD	1 Quarter
Non-cash interest expense	`PaidInKindInterest`	$575.01K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$1.92M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$1.47M	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`	$673.08K	USD	1 Quarter
Inducement conversion costs	`PreferredStockConversionsInducements`	$407.97K	USD	1 Quarter
Inducement conversion costs	`PreferredStockConversionsInducements`	-	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$16.99K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$4.08K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-453.45K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-533.82K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-899.91K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-119.89K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$318.85K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-394.55K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-183.33K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-249.69K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$56.72K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$298.15K	USD	1 Quarter
Accrued litigation settlement	`IncreaseDecreaseinAccruedLitigation`	$-130.69K	USD	1 Quarter
Accrued litigation settlement	`IncreaseDecreaseinAccruedLitigation`	$-143.27K	USD	1 Quarter
Warranty reserve	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-7.49K	USD	1 Quarter
Warranty reserve	`ProductWarrantyAccrualPeriodIncreaseDecrease`	$-18.35K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.66M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.86M	USD	1 Quarter
Proceeds from the sale of assets	`ProceedsFromSaleOfProductiveAssets`	-	USD	1 Quarter
Proceeds from the sale of assets	`ProceedsFromSaleOfProductiveAssets`	$150.00K	USD	1 Quarter
Patent activity costs	`PaymentsToAcquireIntangibleAssets`	$66.47K	USD	1 Quarter
Patent activity costs	`PaymentsToAcquireIntangibleAssets`	$19.27K	USD	1 Quarter
Net cash provided by/(used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$130.72K	USD	1 Quarter
Net cash provided by/(used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-66.47K	USD	1 Quarter
Payment of debt financing costs	`PaymentsOfFinancingCosts`	$25.00K	USD	1 Quarter
Payment of debt financing costs	`PaymentsOfFinancingCosts`	$42.50K	USD	1 Quarter
Repayment of debt	`RepaymentsOfBankDebt`	$78.28K	USD	1 Quarter
Repayment of debt	`RepaymentsOfBankDebt`	-	USD	1 Quarter
Proceeds from promissory note	`ProceedsFromNotesPayable`	$2.34M	USD	1 Quarter
Proceeds from promissory note	`ProceedsFromNotesPayable`	-	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`	$150.00K	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`	$-82.97K	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$24.11K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$350.32K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$47.98K	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`	$130.95K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$350.32K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$47.98K	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`	$130.95K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$139.09K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$20.41K	USD	1 Quarter
Non-cash conversions of preferred stock and convertible notes to equity	`Noncashconversions`	$1.70M	USD	1 Quarter
Non-cash conversions of preferred stock and convertible notes to equity	`Noncashconversions`	$3.44M	USD	1 Quarter
Make-whole provision on convertible preferred stock	`Makewholeprovisiononconvertiblepreferredstock`	-	USD	1 Quarter
Make-whole provision on convertible preferred stock	`Makewholeprovisiononconvertiblepreferredstock`	$257.15K	USD	1 Quarter
Accounts payable converted to notes payable	`IncreaseDecreaseInNotesPayableCurrent`	$1.17M	USD	1 Quarter
Accounts payable converted to notes payable	`IncreaseDecreaseInNotesPayableCurrent`	-	USD	1 Quarter

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