10-Q Filing

Ascent Solar Technologies, Inc. CIK: 1350102 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-011219`
Period End Date	20200331
Filing Date	20210305
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	asti-10q_20200331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 69 Income Statement 31 Cash Flow Statement 54 Stockholders Equity 13

Balance Sheet 69 line items

Line Item	Tag	Value	Unit	Period
Inventories	`InventoryNet`	$510.03K	USD	Point-in-time
Inventories	`InventoryNet`	$533.89K	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$51.60K	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$43.54K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$585.49K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$553.57K	USD	Point-in-time
Property, Plant and Equipment:	`PropertyPlantAndEquipmentGross`	$32.91M	USD	Point-in-time
Property, Plant and Equipment:	`PropertyPlantAndEquipmentGross`	$32.30M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$28.11M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$28.68M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$4.19M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$4.23M	USD	Point-in-time
Patents, net of accumulated amortization of $433,596 and $421,182, respectively	`FiniteLivedIntangibleAssetsNet`	$801.14K	USD	Point-in-time
Patents, net of accumulated amortization of $433,596 and $421,182, respectively	`FiniteLivedIntangibleAssetsNet`	$813.40K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$45.88K	USD	Point-in-time
Other Assets	`OtherAssets`	$813.40K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$46.02K	USD	Point-in-time
Other Assets	`OtherAssets`	$801.14K	USD	Point-in-time
Total Assets	`Assets`	$5.63M	USD	Point-in-time
Total Assets	`Assets`	$5.55M	USD	Point-in-time
Patents, amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$421.18K	USD	Point-in-time
Patents, amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$433.60K	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.66M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.37M	USD	Point-in-time
Related party payables	`AccountsPayableRelatedPartiesCurrent`	$460.17K	USD	Point-in-time
Related party payables	`AccountsPayableRelatedPartiesCurrent`	$460.17K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.62M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.94M	USD	Point-in-time
Accrued Interest	`AccruedInterestCurrent`	$2.11M	USD	Point-in-time
Accrued Interest	`AccruedInterestCurrent`	$2.44M	USD	Point-in-time
Notes Payable	`NotePayableExcludingConvertibleNoteCurrent`	$1.50M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Notes Payable	`NotePayableExcludingConvertibleNoteCurrent`	$1.51M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtExcludingNotesPayableCurrent`	$6.24M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	20.00B	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	20.00B	shares	Point-in-time
Current portion of long-term debt	`LongTermDebtExcludingNotesPayableCurrent`	$6.08M	USD	Point-in-time
Secured promissory notes, net of discount of $535,903 and $837,242, respectively	`SecuredPromissoryNotesCurrent`	$6.34M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.76B	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.76B	shares	Point-in-time
Secured promissory notes, net of discount of $535,903 and $837,242, respectively	`SecuredPromissoryNotesCurrent`	$6.64M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.76B	shares	Point-in-time
Promissory notes, net of discount of $0 and $16,666, respectively	`PromissoryNoteCurrent`	$1.09M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.76B	shares	Point-in-time
Promissory notes, net of discount of $0 and $16,666, respectively	`PromissoryNoteCurrent`	$1.11M	USD	Point-in-time
Convertible notes, net of discount of $451,042 and $861,567, respectively	`ConvertibleNotesPayableCurrent`	$2.54M	USD	Point-in-time
Convertible notes, net of discount of $451,042 and $861,567, respectively	`ConvertibleNotesPayableCurrent`	$2.13M	USD	Point-in-time
Embedded Derivative Liability	`EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiabilityCurrent`	$7.72M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$30.71M	USD	Point-in-time
Accrued Warranty Liability	`StandardProductWarrantyAccrualNoncurrent`	$28.40K	USD	Point-in-time
Accrued Warranty Liability	`StandardProductWarrantyAccrualNoncurrent`	$21.14K	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 ($716,022 and $703,863 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 ($716,022 and $703,863 Liquidation Preference, respectively)	`PreferredStockValue`	$5.00	USD	Point-in-time
Common stock, $0.0001 par value, 20,000,000,000 authorized; 4,759,161,650 and 4,759,161,650 shares issued and outstanding, respectively	`CommonStockValue`	$475.92K	USD	Point-in-time
Common stock, $0.0001 par value, 20,000,000,000 authorized; 4,759,161,650 and 4,759,161,650 shares issued and outstanding, respectively	`CommonStockValue`	$475.92K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$397.82M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$397.82M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-423.40M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-417.01M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-22.64M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-18.36M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-25.11M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-18.71M	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$5.55M	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$5.63M	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Total Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$4.09K	USD	1 Quarter
Total Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$215.38K	USD	1 Quarter
Costs of Revenue	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$91.44K	USD	1 Quarter
Costs of Revenue	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$72.71K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$159.46K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$489.06K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$69.52K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$508.38K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$56.26K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$66.35K	USD	1 Quarter
Total Costs and Expenses	`CostsAndExpenses`	$1.16M	USD	1 Quarter
Total Costs and Expenses	`CostsAndExpenses`	$357.95K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-939.84K	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-353.87K	USD	1 Quarter
Other Income/(Expense), net	`OtherNonoperatingIncomeExpense`	$259.60K	USD	1 Quarter
Interest Expense	`InterestExpenseExcludingWarrantLiability`	$2.83M	USD	1 Quarter
Interest Expense	`InterestExpenseExcludingWarrantLiability`	$1.23M	USD	1 Quarter
Change in fair value of derivatives and loss on extinguishment of liabilities, net	`GainLossOnDerivativeAndExtinguishmentOfDebtNet`	$7.01M	USD	1 Quarter
Change in fair value of derivatives and loss on extinguishment of liabilities, net	`GainLossOnDerivativeAndExtinguishmentOfDebtNet`	$7.72M	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$6.75M	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$4.18M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$3.24M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$6.39M	USD	1 Quarter
Net Income Per Share (Basic)	`EarningsPerShareBasic`	$0.00	USD	1 Quarter
Net Income Per Share (Basic)	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Net Income Per Share (Diluted)	`EarningsPerShareBasicAndDiluted`	$0.00	USD	1 Quarter
Net Income Per Share (Diluted)	`EarningsPerShareBasicAndDiluted`	$0.00	USD	1 Quarter
Weighted Average Common Shares Outstanding (Basic)	`WeightedAverageNumberOfSharesOutstandingBasic`	139.24M	shares	1 Quarter
Weighted Average Common Shares Outstanding (Basic)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.76B	shares	1 Quarter
Weighted Average Common Shares Outstanding (Diluted)	`WeightedAverageNumberOfDilutedSharesOutstanding`	3.59B	shares	1 Quarter
Weighted Average Common Shares Outstanding (Diluted)	`WeightedAverageNumberOfDilutedSharesOutstanding`	57.00B	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$3.24M	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.39M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$56.27K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$66.35K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$4.35K	USD	1 Quarter
Realized (gain) on sale of assets	`GainLossOnDispositionOfAssets1`	$254.60K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$14.86K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$2.69K	USD	1 Quarter
Non-cash interest expense	`StockIssuedDuringPeriodValueIssuedForInterestExpenseExpensePortion`	$117.51K	USD	1 Quarter
Non-cash interest expense	`StockIssuedDuringPeriodValueIssuedForInterestExpenseExpensePortion`	$984.83K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$1.36M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$771.45K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$130.00	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$-141.00	USD	1 Quarter
Warranty reserve	`WarrantyReserve`	$-1.27K	USD	1 Quarter
Warranty reserve	`WarrantyReserve`	$-7.26K	USD	1 Quarter
Change in fair value of derivatives and loss on extinguishment of liabilities, net	`GainLossOnDerivativeAndExtinguishmentOfDebtNet`	$7.01M	USD	1 Quarter
Change in fair value of derivatives and loss on extinguishment of liabilities, net	`GainLossOnDerivativeAndExtinguishmentOfDebtNet`	$7.72M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-109.41K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-141.00	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$17.13K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-23.86K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$47.17K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-5.37K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableExcludingRelatedParty`	$-323.71K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableExcludingRelatedParty`	$-293.12K	USD	1 Quarter
Related party payable	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-688.00	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$333.44K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$301.69K	USD	1 Quarter
Accrued Interest	`IncreaseDecreaseInAccruedInterestPayable`	$319.92K	USD	1 Quarter
Accrued Interest	`IncreaseDecreaseInAccruedInterestPayable`	$152.23K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-249.44K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.16M	USD	1 Quarter
Proceeds on sale of Assets	`ProceedsFromSaleOfProductiveAssets`	$254.60K	USD	1 Quarter
Patent activity costs	`PaymentsToAcquireIntangibleAssets`	$157.00	USD	1 Quarter
Patent activity costs	`PaymentsToAcquireIntangibleAssets`	$2.13K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.13K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$254.44K	USD	1 Quarter
Proceeds from debt issuance	`ProceedsFromBankDebt`	$1.20M	USD	1 Quarter
Repayment of debt	`RepaymentsOfBankDebt`	$5.00K	USD	1 Quarter
Payment of debt financing costs	`PaymentsOfFinancingCosts`	$5.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.20M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$32.75K	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$50.91K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.16K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$50.91K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.16K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$20.74K	USD	1 Quarter
Non-cash conversions of preferred stock and convertible notes to equity	`ConversionOfStockToEquityAmount`	$645.98K	USD	1 Quarter
Non-cash financing costs	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	$10.80K	USD	1 Quarter
Interest converted to principal	`CapitalExpendituresIncurredButNotYetPaid`	$171.15K	USD	1 Quarter
Initial embedded derivative liabilities	`InitialEmbeddedDerivativeLiabilities`	$2.23M	USD	1 Quarter
Promissory notes exchanged for convertible notes	`NotesPayableExchangedToConvertibleNotes`	$235.00K	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$-22.64M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-18.36M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-25.11M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-18.71M	USD	Point-in-time
Interest and Dividend Expense paid with Common Stock	`StockIssuedDuringPeriodValueIssuedForInterestExpenseEquity`	$85.61K	USD	1 Quarter
Loss on Extinguishment of Liabilities	`AdjustmentstoAdditionalPaidinCapitalLossonExtinguishmentofLiabilities`	$382.83K	USD	1 Quarter
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.35K	USD	1 Quarter
Net Income	`NetIncomeLoss`	$3.24M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$6.39M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$-22.64M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-18.36M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-25.11M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-18.71M	USD	Point-in-time

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