Ascent Solar Technologies, Inc. (NASDAQ:ASTI) Reports Major Increase In Fourth Quarter Revenues


Dallas, Texas 03/20/2014 (FINANCIALSTRENDS) – Ascent Solar Technologies, Inc. (NASDAQ:ASTI) reported 112% increase in its total revenue for 4Q2013 with $580K compared to 45k during the same period last year. The company’s product EnerPlex has made very a significant contribution of $490K towards its quarterly revenue. The net operating loss for the quarter was $6.4Mcompared to $27.9M during the same period in 2012. Cash and its equivalents decreased to $3.3M at December 31, 2013 from $3.9M at September 30, 2013.For the fully year, the company reported $1.3M, up from $1.2M in 2012 and its Product revenue increased by 93% reporting $1.1M from $0.6M last year. The company witnessed a decrease in its net operating loss at $27.0M compared to a net operating loss of $27.9M in 2012.

Ascent Solar Technologies, Inc. (NASDAQ:ASTI) Appoints New VP and GM

According to the latest reports from Ascent Solar Technologies, it has appointed Richard Hashim as President & General Manager of the EnerPlex consumer electronics division.

Hashim who holds a Bachelor’s degree in International Business and MBA was earlier with Corsair Components, Inc and was instrumental in building the company into global brand from the start up stage. According to CEO of Ascent Solar, Mr. Victor Lee, with the expertise Hashim brings on; he will be focusing on expanding EnerPlex brand globally.

Ascent Solar Technologies completes Series B preferred stock purchase agreement with Ironridge Technology Co

Ascent Solar Technologies last month announced it has successfully completed $10 Million Series B preferred stock purchase agreement with Ironridge Technology Co

The company which had received first $5 million from Ironridge in November 2013 received the remaining $5million during February. According to the reports, Ascent will utilize the amount from the deal towards funding and expanding its EnerPlex products.