10-Q Filing

Ascent Solar Technologies, Inc. CIK: 1350102 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-029485`
Period End Date	20210331
Filing Date	20210524
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	asti-10q_20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 28 Cash Flow Statement 46 Stockholders Equity 13

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$167.72K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.66M	USD	Point-in-time
Trade receivables, net of allowance of $26,000 and $45,883, respectively	`AccountsReceivableNetCurrent`	$5.54K	USD	Point-in-time
Trade receivables, net of allowance of $26,000 and $45,883, respectively	`AccountsReceivableNetCurrent`	$17.64K	USD	Point-in-time
Inventories	`InventoryNet`	$664.80K	USD	Point-in-time
Inventories	`InventoryNet`	$534.43K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$45.88K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$26.00K	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$71.58K	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$108.17K	USD	Point-in-time
Patents, amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$467.10K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$779.27K	USD	Point-in-time
Patents, amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$477.25K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.45M	USD	Point-in-time
Property, Plant and Equipment:	`PropertyPlantAndEquipmentGross`	$24.87M	USD	Point-in-time
Property, Plant and Equipment:	`PropertyPlantAndEquipmentGross`	$24.87M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$24.85M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$24.85M	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$18.77K	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$16.04K	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$5.63M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$5.48M	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 $477,250 and $467,102, respectively	`FiniteLivedIntangibleAssetsNet`	$439.84K	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 $477,250 and $467,102, respectively	`FiniteLivedIntangibleAssetsNet`	$412.04K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$500.00K	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
Other non-current assets	`OtherAssetsNoncurrent`	$625.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	18.10B	shares	Point-in-time
Other Assets	`OtherAssets`	$6.51M	USD	Point-in-time
Other Assets	`OtherAssets`	$6.57M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	18.35B	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	18.35B	shares	Point-in-time
Total Assets	`Assets`	$10.98M	USD	Point-in-time
Total Assets	`Assets`	$7.37M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	18.10B	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$622.65K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$736.99K	USD	Point-in-time
Related party payables	`AccountsPayableRelatedPartiesCurrent`	$135.83K	USD	Point-in-time
Related party payables	`AccountsPayableRelatedPartiesCurrent`	$32.50K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.52M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.21M	USD	Point-in-time
Accrued interest	`AccruedInterestCurrent`	$443.48K	USD	Point-in-time
Accrued interest	`AccruedInterestCurrent`	$438.06K	USD	Point-in-time
Notes payable	`NotePayableExcludingConvertibleNoteCurrent`	$250.00K	USD	Point-in-time
Notes payable	`NotePayableExcludingConvertibleNoteCurrent`	$250.00K	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$592.77K	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$575.40K	USD	Point-in-time
Promissory notes, net	`PromissoryNoteCurrent`	$193.20K	USD	Point-in-time
Promissory notes, net	`PromissoryNoteCurrent`	$193.20K	USD	Point-in-time
Embedded derivative liability	`EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiabilityCurrent`	$5.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.15M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$5.18M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$5.02M	USD	Point-in-time
Non-current secured promissory notes, net	`SecuredPromissoryNotesNetNoncurrent`	$5.41M	USD	Point-in-time
Non-current convertible notes, net	`ConvertibleLongTermNotesPayable`	$7.96M	USD	Point-in-time
Non-current convertible notes, net	`ConvertibleLongTermNotesPayable`	$7.81M	USD	Point-in-time
Accrued warranty liability	`StandardProductWarrantyAccrualNoncurrent`	$13.68K	USD	Point-in-time
Accrued warranty liability	`StandardProductWarrantyAccrualNoncurrent`	$14.14K	USD	Point-in-time
Total liabilities	`Liabilities`	$16.34M	USD	Point-in-time
Total liabilities	`Liabilities`	$27.56M	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 ($764,790 and $752,765 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 ($764,790 and $752,765 Liquidation Preference, respectively)	`PreferredStockValue`	$5.00	USD	Point-in-time
Common stock, $0.0001 par value, 20,000,000,000 authorized; 18,345,583,473 and 18,102,583,473 shares issued and outstanding, respectively	`CommonStockValue`	$1.81M	USD	Point-in-time
Common stock, $0.0001 par value, 20,000,000,000 authorized; 18,345,583,473 and 18,102,583,473 shares issued and outstanding, respectively	`CommonStockValue`	$1.83M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$399.78M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$412.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-421.78M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-419.94M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-5.36M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-18.71M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-20.19M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-25.11M	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$10.98M	USD	Point-in-time
Total Liabilities and Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$7.37M	USD	Point-in-time

Income Statement 28 line items

Line Item	Tag	Value	Unit	Period
Total Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$165.16K	USD	1 Quarter
Total Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$4.09K	USD	1 Quarter
Costs of revenue	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$72.78K	USD	1 Quarter
Costs of revenue	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$72.71K	USD	1 Quarter
Research, development and manufacturing operations	`ResearchAndDevelopmentExpense`	$728.04K	USD	1 Quarter
Research, development and manufacturing operations	`ResearchAndDevelopmentExpense`	$159.46K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$561.71K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$69.52K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$56.26K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$12.87K	USD	1 Quarter
Total Costs and Expenses	`CostsAndExpenses`	$357.95K	USD	1 Quarter
Total Costs and Expenses	`CostsAndExpenses`	$1.38M	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-1.21M	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-353.87K	USD	1 Quarter
Other income/(expense), net	`OtherNonoperatingIncomeExpense`	$800.00	USD	1 Quarter
Other income/(expense), net	`OtherNonoperatingIncomeExpense`	$259.60K	USD	1 Quarter
Interest expense	`InterestExpenseExcludingWarrantLiability`	$1.23M	USD	1 Quarter
Interest expense	`InterestExpenseExcludingWarrantLiability`	$562.08K	USD	1 Quarter
Change in fair value of derivatives and gain on extinguishment of liabilities, net	`GainLossOnDerivativeAndExtinguishmentOfDebtNet`	$7.72M	USD	1 Quarter
Change in fair value of derivatives and gain on extinguishment of liabilities, net	`GainLossOnDerivativeAndExtinguishmentOfDebtNet`	$3.62M	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$6.75M	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$3.06M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$1.85M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$6.39M	USD	1 Quarter
Weighted Average Common Shares Outstanding (Basic)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.17B	shares	1 Quarter
Weighted Average Common Shares Outstanding (Basic)	`WeightedAverageNumberOfSharesOutstandingBasic`	4.76B	shares	1 Quarter
Weighted Average Common Shares Outstanding (Diluted)	`WeightedAverageNumberOfDilutedSharesOutstanding`	162.56B	shares	1 Quarter
Weighted Average Common Shares Outstanding (Diluted)	`WeightedAverageNumberOfDilutedSharesOutstanding`	57.00B	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income/(loss)	`NetIncomeLoss`	$1.85M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$6.39M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$56.27K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.87K	USD	1 Quarter
Operating lease asset amortization	`OperatingLeaseAssetAmortization`	$158.50K	USD	1 Quarter
Realized (gain) on sale and foreclosure of assets	`GainLossOnDispositionAndForeclosureOfAssets`	$-254.60K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$2.69K	USD	1 Quarter
Non-cash interest expense	`StockIssuedDuringPeriodValueIssuedForInterestExpenseExpensePortion`	$117.51K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$771.45K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$542.16K	USD	1 Quarter
Bad debt expense	`ProvisionForDoubtfulAccounts`	$-141.00	USD	1 Quarter
Warranty reserve	`WarrantyReserve`	$-7.26K	USD	1 Quarter
Warranty reserve	`WarrantyReserve`	$-463.00	USD	1 Quarter
Gain on extinguishment of liabilities, net	`GainsLossesOnExtinguishmentOfDebt`	$3.62M	USD	1 Quarter
Gain on extinguishment of liabilities, net	`GainsLossesOnExtinguishmentOfDebt`	$7.72M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.10K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-141.00	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-23.86K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$130.37K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-5.37K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$161.59K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableExcludingRelatedParty`	$-114.34K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableExcludingRelatedParty`	$-293.12K	USD	1 Quarter
Related party payable	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-103.33K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$-140.10K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInAccruedInterestPayable`	$5.41K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInAccruedInterestPayable`	$333.44K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$319.92K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-312.07K	USD	1 Quarter
Net cash (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-249.44K	USD	1 Quarter
Net cash (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.03M	USD	1 Quarter
Proceeds on sale of Assets	`ProceedsFromSaleOfProductiveAssets`	$254.60K	USD	1 Quarter
Patent activity costs	`ProceedsFromPaymentsToPatentActivity`	$17.65K	USD	1 Quarter
Patent activity costs	`ProceedsFromPaymentsToPatentActivity`	$-157.00	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$17.65K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$254.44K	USD	1 Quarter
Repayment of debt	`RepaymentsOfBankDebt`	$5.00K	USD	1 Quarter
Proceeds from issuance of stock	`ProceedsFromIssuanceOrSaleOfEquity`	$5.50M	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`	$5.50M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.49M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.66M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$167.72K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.66M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$167.72K	USD	Point-in-time
Non-cash conversions of preferred stock and convertible notes to equity	`ConversionOfStockToEquityAmount`	$5.80M	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$-5.36M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-18.71M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-20.19M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-25.11M	USD	Point-in-time
Proceeds from issuance of Series 1A Preferred Stock	`StockIssuedDuringPeriodValueNewIssues`	$2.50M	USD	1 Quarter
Proceeds from issuance of Common Stock	`StockIssuedDuringPeriodValueOfCommonStock`	$3.00M	USD	1 Quarter
Relieved on Conversion of Derivative Liability	`AdjustmentsToAdditionalPaidInCapitalRelievedOnConversionOfDerivativeLiability`	$1.69M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$1.85M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$6.39M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$-5.36M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-18.71M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-20.19M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-25.11M	USD	Point-in-time

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