10-Q Filing

Ascent Solar Technologies, Inc. CIK: 1350102 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001564590-22-019731`
Period End Date	20220331
Filing Date	20220512
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	asti-10q_20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 34 Cash Flow Statement 47 Stockholders Equity 14

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.03M	USD	Point-in-time
Trade receivables, net of allowance of $26,000 and $26,000, respectively	`AccountsReceivableNetCurrent`	$49.25K	USD	Point-in-time
Trade receivables, net of allowance of $26,000 and $26,000, respectively	`AccountsReceivableNetCurrent`	$561.25K	USD	Point-in-time
Inventories, net	`InventoryNet`	$637.62K	USD	Point-in-time
Inventories, net	`InventoryNet`	$592.17K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$26.00K	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$247.74K	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$659.54K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$26.00K	USD	Point-in-time
Patents, amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$135.05K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.89M	USD	Point-in-time
Patents, amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$139.84K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.85M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property, Plant and Equipment:	`PropertyPlantAndEquipmentGross`	$22.48M	USD	Point-in-time
Property, Plant and Equipment:	`PropertyPlantAndEquipmentGross`	$22.43M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$22.15M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$22.16M	USD	Point-in-time
Property, Plant and Equipment, net	`PropertyPlantAndEquipmentNet`	$279.66K	USD	Point-in-time
Property, Plant and Equipment, net	`PropertyPlantAndEquipmentNet`	$325.24K	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$4.98M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$4.82M	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
Patents, net of accumulated amortization of $139,842 and $135,050 respectively	`FiniteLivedIntangibleAssetsNet`	$82.11K	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 $139,842 and $135,050 respectively	`FiniteLivedIntangibleAssetsNet`	$86.59K	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Equity method investment	`EquityMethodInvestments`	$21.20K	USD	Point-in-time
Equity method investment	`EquityMethodInvestments`	$97.67K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$625.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	4.79M	shares	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$625.00K	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	30.59M	shares	Point-in-time
Total Assets	`Assets`	$10.83M	USD	Point-in-time
Total Assets	`Assets`	$12.85M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	30.59M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	4.79M	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$600.60K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$642.16K	USD	Point-in-time
Related party payables	`AccountsPayableRelatedPartiesCurrent`	$45.00K	USD	Point-in-time
Related party payables	`AccountsPayableRelatedPartiesCurrent`	$45.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$991.53K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.40M	USD	Point-in-time
Accrued interest	`AccruedInterestCurrent`	$490.78K	USD	Point-in-time
Accrued interest	`AccruedInterestCurrent`	$475.67K	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`	$665.59K	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$646.74K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.45M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.05M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$4.53M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$4.36M	USD	Point-in-time
Non-current convertible notes, net	`ConvertibleLongTermNotesPayable`	$8.08M	USD	Point-in-time
Non-current convertible notes, net	`ConvertibleLongTermNotesPayable`	$946.05K	USD	Point-in-time
Accrued warranty liability	`StandardProductWarrantyAccrualNoncurrent`	$21.23K	USD	Point-in-time
Accrued warranty liability	`StandardProductWarrantyAccrualNoncurrent`	$21.23K	USD	Point-in-time
Total liabilities	`Liabilities`	$8.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.68M	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 ($813,558 and $801,533 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 ($813,558 and $801,533 Liquidation Preference, respectively)	`PreferredStockValue`	$5.00	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 authorized; 30,586,804 and 4,786,804 shares issued and outstanding, respectively	`CommonStockValue`	$479.00	USD	Point-in-time
Common stock, $0.0001 par value, 500,000,000 authorized; 30,586,804 and 4,786,804 shares issued and outstanding, respectively	`CommonStockValue`	$3.06K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$424.95M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$434.15M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-432.08M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-427.78M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.10K	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-2.83M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$2.06M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-5.36M	USD	Point-in-time
Total stockholders equity (deficit)	`StockholdersEquity`	$-20.19M	USD	Point-in-time
Total Liabilities and Stockholders Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$12.85M	USD	Point-in-time
Total Liabilities and Stockholders Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$10.83M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Total Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$566.21K	USD	1 Quarter
Total Revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$165.16K	USD	1 Quarter
Costs of revenue	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$532.89K	USD	1 Quarter
Costs of revenue	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$72.78K	USD	1 Quarter
Research, development and manufacturing operations	`ResearchAndDevelopmentExpense`	$728.04K	USD	1 Quarter
Research, development and manufacturing operations	`ResearchAndDevelopmentExpense`	$1.41M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$561.71K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$821.27K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$12.87K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$16.66K	USD	1 Quarter
Total Costs and Expenses	`CostsAndExpenses`	$1.38M	USD	1 Quarter
Total Costs and Expenses	`CostsAndExpenses`	$2.78M	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-1.21M	USD	1 Quarter
Loss from Operations	`OperatingIncomeLoss`	$-2.21M	USD	1 Quarter
Other income/(expense), net	`OtherNonoperatingIncomeExpense`	$800.00	USD	1 Quarter
Interest expense	`InterestExpenseExcludingWarrantLiability`	$562.08K	USD	1 Quarter
Interest expense	`InterestExpenseExcludingWarrantLiability`	$2.09M	USD	1 Quarter
Change in fair value of derivatives and gain/(loss) on extinguishment of liabilities, net	`GainLossOnDerivativeAndExtinguishmentOfDebtNet`	$3.62M	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$3.06M	USD	1 Quarter
Total Other Income/(Expense)	`NonoperatingIncomeExpense`	$-2.09M	USD	1 Quarter
Income/(Loss) on Equity Method Investments	`IncomeLossFromEquityMethodInvestments`	$-2.00	USD	1 Quarter
Net Income/(Loss)	`NetIncomeLoss`	$-4.30M	USD	1 Quarter
Net Income/(Loss)	`NetIncomeLoss`	$1.85M	USD	1 Quarter
Net Income/(Loss) Per Share (Basic)	`EarningsPerShareBasic`	$-0.20	USD	1 Quarter
Net Income/(Loss) Per Share (Basic)	`EarningsPerShareBasic`	$0.51	USD	1 Quarter
Net Income/(Loss) Per Share (Diluted)	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Net Income/(Loss) Per Share (Diluted)	`EarningsPerShareDiluted`	$-0.20	USD	1 Quarter
Weighted Average Common Shares Outstanding (Basic)	`WeightedAverageNumberOfSharesOutstandingBasic`	3.63M	shares	1 Quarter
Weighted Average Common Shares Outstanding (Basic)	`WeightedAverageNumberOfSharesOutstandingBasic`	21.67M	shares	1 Quarter
Weighted Average Common Shares Outstanding (Diluted)	`WeightedAverageNumberOfDilutedSharesOutstanding`	21.67M	shares	1 Quarter
Weighted Average Common Shares Outstanding (Diluted)	`WeightedAverageNumberOfDilutedSharesOutstanding`	32.51M	shares	1 Quarter
Foreign currency translation gain/(loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-7.10K	USD	1 Quarter
Net Comprehensive Income/(Loss)	`ComprehensiveIncomeNetOfTax`	$-4.30M	USD	1 Quarter
Net Comprehensive Income/(Loss)	`ComprehensiveIncomeNetOfTax`	$1.85M	USD	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net income/(loss)	`NetIncomeLoss`	$-4.30M	USD	1 Quarter
Net income/(loss)	`NetIncomeLoss`	$1.85M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$16.66K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$12.87K	USD	1 Quarter
Operating lease asset amortization	`OperatingLeaseAssetAmortization`	$168.67K	USD	1 Quarter
Operating lease asset amortization	`OperatingLeaseAssetAmortization`	$158.50K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$542.16K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$2.07M	USD	1 Quarter
Loss on equity method investment	`IncomeLossFromEquityMethodInvestments`	$-2.00	USD	1 Quarter
Warranty reserve	`WarrantyReserve`	$-463.00	USD	1 Quarter
Gain on extinguishment of liabilities, net	`GainsLossesOnExtinguishmentOfDebt`	$3.62M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.10K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$512.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$45.45K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$130.37K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$161.59K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$411.80K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableExcludingRelatedParty`	$-41.56K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableExcludingRelatedParty`	$-96.69K	USD	1 Quarter
Related party payable	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-103.33K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$-157.48K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInContractWithCustomerLiability`	$-140.10K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInAccruedInterestPayable`	$5.41K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInAccruedInterestPayable`	$15.11K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$403.82K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-312.07K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.79M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.01M	USD	1 Quarter
Contributions to equity method investment	`PaymentsToAcquireEquityMethodInvestments`	$83.56K	USD	1 Quarter
Payments on purchase of assets	`PaymentsToAcquireProductiveAssets`	$57.45K	USD	1 Quarter
Patent activity costs	`ProceedsFromPaymentsToPatentActivity`	$-308.00	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-141.32K	USD	1 Quarter
Proceeds from issuance of stock	`ProceedsFromIssuanceOrSaleOfEquity`	$5.50M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.50M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.49M	USD	1 Quarter
Net change in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.93M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.03M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$167.72K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.66M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.96M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.03M	USD	Point-in-time
Cash and cash equivalents at end 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`	$5.96M	USD	Point-in-time
Non-cash conversions of preferred stock and convertible notes to equity	`ConversionOfStockToEquityAmount`	$9.20M	USD	1 Quarter
Non-cash conversions of preferred stock and convertible notes to equity	`ConversionOfStockToEquityAmount`	$5.80M	USD	1 Quarter
Series 1A preferred stock conversion	`SeriesOneAPreferredStockConversion`	$740.00	USD	1 Quarter

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$-2.83M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$2.06M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-5.36M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$-20.19M	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`	$-4.30M	USD	1 Quarter
Net Income	`NetIncomeLoss`	$1.85M	USD	1 Quarter
Foreign currency translation gain/(loss)	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossBeforeReclassificationAndTax`	$-7.10K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$-2.83M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$2.06M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-5.36M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$-20.19M	USD	Point-in-time

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