The Exciting Run on Ascent Solar (OTCMKTS: ASTI)

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1/15/2021: Ascent Solar (OTCMKTS: ASTI) is making an explosive move up the charts in recent weeks after Bernd Förtsch’s Crowdex became the new majority owner of Ascent via a number of transactions. Mr. Förtsch is a popular entrepreneur from Germany worth several hundred million and he has been hard at working getting the filings up to date with a plan on becoming fully reporting. He has also brought on a top level management team appointing  Michael Gilbreth as CFO and Will Clarke as class 2 director.

ASTI was a NASDAQ listed Company years ago well known for their battery and solar integrated phone cases designed for Apple and Samsung smartphones. The Company made a significant breakthrough in power-to-weight ratio for its superlight solar modules and they own a valuable patent portfolio of 80 patent applications and issued patents. As long time penny stock speculators know these ex big boards are known for making historic moves once on the bulletin boards.

Ascent Solar (OTCMKTS: ASTI) is a developer of thin-film photovoltaic modules using flexible substrate materials that are more versatile and rugged than traditional solar panels.  Ascent Solar modules were named as one of the top 100 technologies in both 2010 and 2015 by R&D Magazine, and one of TIME Magazine’s 50 best inventions for 2011. The technology described above represents the cutting edge of flexible power and can be directly integrated into consumer products and off-grid applications, as well as other aerospace applications. Ascent Solar is headquartered in Thornton, Colorado.

ASTI is famous for the Company’s award winning thin-film CIGS solar modules are more flexible, versatile and rugged than traditional solar panels. They use plastic as their substrate rather than glass that’s used by tradition rooftop solar panels. The Company diversified into consumer goods as they could not compete with the low-cost Chinese solar panels in the traditional electricity generating segment.

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On January 6 ASTI announced the completion of Tranche 2 of the Series 1A Preferred Stock. This comes after the initial September 22 securities purchase agreement (“Series 1A SPA”) with Crowdex Investment LLC, a private investor (“Crowdex”) and sold 2,000 shares of Series 1A Preferred Stock to Crowdex in exchange for $2,000,000 of gross proceeds at initial Tranche 1 closing.m On November 27, 2020, the Company issued to Crowdex a $500,000 Unsecured Convertible Promissory Note (“Note”) in a private placement and received $500,000 of gross proceeds from the offering of the Note. On December 31, 2020, the Company sold 500 shares of Series 1A Preferred Stock to Crowdex in exchange for the cancellation of the Note issued on November 27, 2020. There were no further cash proceeds from this closing.

On January 4, 2021, the Company entered into another securities purchase agreement (“Series 1A Tranche 2 SPA”) with TubeSolar AG, a developer of photovoltaic thin-film tubes that are assembled into modules to enable additional application opportunities in solar power generation compared to conventional solar modules, particularly in the agricultural sector (“TubeSolar”). TubeSolar, headquartered in Augsburg, Germany, is a publicly traded company listed on the Dusseldorf Stock Exchange of Germany under the ticker code: 9TS.DU. Pursuant to the Series 1A Tranche 2 SPA, the Company sold 2,500 shares of Series 1A Tranche 2 Preferred Stock to TubeSolar and received $2,500,000 of gross proceeds on January 5, 2021.

ASTI President and CEO Victor Lee stated:“I am pleased that despite the disruptions conferred by COVID-19, we have completed the full placement of the Series 1A Preferred Stock as part of Ascent’s recent restructuring and recapitalization efforts which began in early 2020. This marks the closure of our Phase I reorganization plan and begins a new era for Ascent Solar. We will continue to strengthen our balance sheet as we ramp up production to serve Tier-1 specialty PV markets in conjunction with satisfying the future demand of TubeSolar. Despite an extraordinarily difficult year in 2020, we are optimistic and look forward to stronger years ahead, as our high-value PV market focus begins to take shape. We will continue to update our shareholders regularly as we make continued progress.”

Dr. Amit Kumar, Chairman of Board of Directors of Ascent Solar, said, “We are pleased to commence our turnaround efforts to establish Ascent as a commercially viable company and a leader in the very high value specialty PV markets. We are looking forward to sustained progress in the upcoming year.”

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ASTI is making an explosive move up the charts in recent weeks after Bernd Förtsch’s Crowdex became the new majority owner of Ascent via a number of transactions. Mr. Förtsch is a popular entrepreneur from Germany worth several hundred million and he has been hard at working getting the filings up to date with a plan on becoming fully reporting. He has also brought on a top level management team appointing  Michael Gilbreth as CFO and Will Clarke as class 2 director. ASTI was a NASDAQ listed Company years ago well known for their battery and solar integrated phone cases designed for Apple and Samsung smartphones. The Company made a significant breakthrough in power-to-weight ratio for its superlight solar modules and they own a valuable patent portfolio of 80 patent applications and issued patents. As long time penny stock speculators know these ex big boards are known for making historic moves once on the bulletin boards. For the inside scoop on ASTI subscribe right now

Sign Up now for our 100% FREE Penny Stock Newsletter

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