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Ascent Solar Technologies, Inc. (OTCMKTS: ASTI) Big Reversal as Solar Pioneer Secures Favorable Funding, Signs Major Supply Contract & Looks to Up List to National Exchange

Ascent Solar Technologies, Inc. (OTCMKTS: ASTI) is making an explosive move up the charts in recent trading showing some green to investors who have endured many months of decline since the stock topped out at $0.097 in February. Volume has been increasin

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Ascent Solar Technologies, Inc. (OTCMKTS: ASTI) is making an explosive move up the charts in recent trading showing some green to investors who have endured many months of decline since the stock topped out at $0.097 in February. Volume has been increasing too and many speculators are accumulating at current levels. ASTI is ex Nasdaq and as we have reported many times these ex big boards have a long history of historic moves once trading in small caps especially the OTC bulletin board.  ASTI an early pioneer in Flexible Solar Modules could not be in a stronger position as Solar Energy is currently seeing an enormous global boost. The upcoming LISA-T demonstration, part of NASA’s Pathfinder Technology Demonstrator 4 CubeSat slated for launch in 2022, will also include Ascent’s flexible CIGS as part of its further photovoltaic experiment. 

There is a lot to get excited about on ASTI as the Company looks to affect a 5000 for 1 reverse stock split in order to meet the minimum bid requirements for a proposed up listing to the  NASDAQ Capital Market. Management has correctly predicted that a small, clean share structure on the NASDAQ would be significantly more attractive to investors that the current situation. As we have noted many times before when an established Company such as ASTI with award winning thin-film photovoltaic modules does a RS it almost always results in significant moves to the upside. Another indication of just how valuable ASTI solar technology is, is ASTI ability to raise money at very favorable terms and at significantly higher conversion prices than the current pps. In recent months ASTI has raised well over $15 million USD, delivered on a major supply contract and signed a JDA with TubeSolar AG that could results in $13.5 million in revenues. 

Ascent Solar Technologies, Inc. (OTCMKTS: ASTI) operating out of Thornton, Colorado is a developer of award winning thin-film photovoltaic modules with substrate materials that are more flexible, versatile and rugged than traditional solar panels. Ascent Solar modules can be directly integrated into consumer products and off-grid applications, as well as aerospace and building integrated applications. ASTI has won numerous awards including by recognized as one of Time Magazine’s Top 50 Inventions, recognized for developing CIGS (Copper-Indium-Gallium-Selenide) on a polyimide substrate by R&D 100, and was awarded R&D 100 award for the development of its MilPak solar blanket. Ascent owns a valuable intellectual property portfolio related to its solar patents and patents pending. ASTI an early pioneer in Flexible Solar Modules could not be in a stronger position as Solar Energy is currently seeing an enormous global boost.  

Ascent’s flexible, ultra-lightweight, monolithically-integrated photovoltaics (PV) is based on the copper-indium-gallium-selenium (CIGS) chemistry and will benefit various future missions, ranging from CubeSats, solar sails, and potentially missions to the moon and Mars. In order to obtain the necessary data to determine how flexible CIGS performs in the space environment, Ascent’s PV modules have been undergoing extensive evaluation for years, including protracted and demanding ground simulation test and, as a part of the 10th Materials International Space Station Experiment (MISSE-X) flight experiment aboard the International Space Station that was launched on November 17, 2018 for a duration of over one year. The upcoming LISA-T demonstration, part of NASA’s Pathfinder Technology Demonstrator 4 CubeSat slated for launch in 2022, will also include Ascent’s flexible CIGS as part of its further photovoltaic experiment. 

There is a consensus that RS is bad (underlined by ASTI steady drop since they announced the RS in November) and usually results in lower PPS as the result of panic selling etc., but if we really examine the issue we come to an entirely different conclusion. Yes, in almost all cases when a non-revenue, sub penny co with a history of dilution does another RS it almost always ends in more downside. And this is the only logical outcome; if management is doing a RS so they can continue to further dilute shareholders why would any shareholder not sell. At the other end of the spectrum when an established Company such as ASTI with award winning thin-film photovoltaic modules does a RS it almost always results in significant moves to the upside. Looking back at some RS I was watching years ago (I made this list in 2015); CTSO did a 25 for 1 RS on December 1, 2014 the stock opened after the RS at just over $4 a share and quickly ran to over $12 in 3 weeks. Another established Company RS recently was SIAF which did a 9.9 for 1 RS on December 16, 2014 the stock opened after the RS at just over $6 a share and was trading over $9 by the next day. Even if we look back farther and take MSLP (which had many similarities to ASTI when it traded for pennies) which did a 850 for 1 RS on November 26, 2012 opened after the RS at just over $4 and was trading over $12 a share within 6 months. 

In November Ascent Solar initiated the process for a proposed reverse stock split as part of a broader plan to position Ascent Solar for continued growth, including an eventual proposed up-listing onto the Nasdaq Capital Market. As detailed in the Company’s preliminary 14C information statement filed with the SEC on November 17, 2021, the Company’s board has approved a Reverse Split at a ratio of between 1-for-1,000 and 1-for-10,000, with the final ratio within such range and the timing of implementation to be determined by the board in its sole discretion. The Reverse Split is subject to regulatory review by the SEC and FINRA.  

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ASTI

ASTI reported it has filed its definitive 14C information statement relating to the Reverse Split with the SEC on November 29, 2021, and such information statement is currently being mailed to the Company’s stockholders. Subject to market conditions, the Company currently anticipates implementing a Reverse Split ratio of 1-for-5,000. The Company will not issue any fractional shares in connection with the Reverse Split. Any fractional shares result from the Reverse Split in a stockholder’s account will be rounded up to the nearest whole share. 

Following the implementation of the Reverse Split, the Company intends to apply to up-list its shares to the Nasdaq Capital Market. Any up-listing to Nasdaq will be conditioned on the Company satisfying the applicable Nasdaq listing criteria, and the review and approval of the Company’s application by Nasdaq. Management strongly believes that the Reverse Split is essential to continuing the Company’s turnaround process. As previously reported, Ascent was predominantly in a dormant status for much of 2020 due to financial constraints and COVID-19. Beginning in mid-2020, however, the Company engaged in several initiatives that assisted with the restructuring, recapitalization, and turnaround of Ascent Solar.  These initiatives included: 

  • Strengthened the Company’s board and management; 
  • Aligned with leading German agrivoltaic thin-film solar tube maker, TubeSolar AG, to secure a strategic $2.5M capital infusion in January 2021, as well as a long-term supply agreement in August 2021; 
  • Secured a $3M cash injection in March 2021 from a private investment fund at the fixed price of $0.04 per share; 
  • Converted $5.8M outstanding secured debt in March 2021 into Common Stock equity at a fixed price of $0.0345 per share; 
  • Completed delivery on a major supply contract in May 2021 with a developer of advanced unmanned, helium-filled airships; 
  • Being recognized for exceptional device stability during space flight experiments while also receiving an Innovation Award at the Defense TechConnect Conference; and, 
  • Recently completing a strategic capital raise of $10M from Ascent’s largest stakeholder at the fixed price of $0.015 per share. 

Management believes that Ascent Solar is poised to make strong operational advancements, having the ability to better focus on tooling upgrades and next generation tooling designs as well as sourcing and scaling to meet increasing demand for finished goods and bespoke solar products. 

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ASTI is making an explosive move up the charts in recent trading showing some green to investors who have endured many months of decline since the stock topped out at $0.097 in February. Volume has been increasing too and many speculators are accumulating at current levels. ASTI is ex Nasdaq and as we have reported many times these ex big boards have a long history of historic moves once trading in small caps especially the OTC bulletin board.  ASTI an early pioneer in Flexible Solar Modules could not be in a stronger position as Solar Energy is currently seeing an enormous global boost. The upcoming LISA-T demonstration, part of NASA’s Pathfinder Technology Demonstrator 4 CubeSat slated for launch in 2022, will also include Ascent’s flexible CIGS as part of its further photovoltaic experiment.  There is a lot to get excited about on ASTI as the Company looks to affect a 5000 for 1 reverse stock split in order to meet the minimum bid requirements for a proposed up listing to the  NASDAQ Capital Market. Management has correctly predicted that a small, clean share structure on the NASDAQ would be significantly more attractive to investors that the current situation. As we have noted many times before when an established Company such as ASTI with award winning thin-film photovoltaic modules does a RS it almost always results in significant moves to the upside. Another indication of just how valuable ASTI solar technology is, is ASTI ability to raise money at very favorable terms and at significantly higher conversion prices than the current pps. In recent months ASTI has raised well over $15 million USD, delivered on a major supply contract and signed a JDA with TubeSolar AG that could results in $13.5 million in revenues. We will be updating on ASTI as events unfold so make sure you are subscribed to Microcapdaily so you know what is going on with ASTI.

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Disclosure: we hold no position in ASTI either long or short and we have not been compensated for this article.

The post Ascent Solar Technologies, Inc. (OTCMKTS: ASTI) Big Reversal as Solar Pioneer Secures Favorable Funding, Signs Major Supply Contract & Looks to Up List to National Exchange first appeared on Micro Cap Daily.

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Survey Shows Declining Concerns Among Americans About COVID-19

Survey Shows Declining Concerns Among Americans About COVID-19

A new survey reveals that only 20% of Americans view covid-19 as "a major threat"…

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Survey Shows Declining Concerns Among Americans About COVID-19

A new survey reveals that only 20% of Americans view covid-19 as "a major threat" to the health of the US population - a sharp decline from a high of 67% in July 2020.

(SARMDY/Shutterstock)

What's more, the Pew Research Center survey conducted from Feb. 7 to Feb. 11 showed that just 10% of Americans are concerned that they will  catch the disease and require hospitalization.

"This data represents a low ebb of public concern about the virus that reached its height in the summer and fall of 2020, when as many as two-thirds of Americans viewed COVID-19 as a major threat to public health," reads the report, which was published March 7.

According to the survey, half of the participants understand the significance of researchers and healthcare providers in understanding and treating long COVID - however 27% of participants consider this issue less important, while 22% of Americans are unaware of long COVID.

What's more, while Democrats were far more worried than Republicans in the past, that gap has narrowed significantly.

"In the pandemic’s first year, Democrats were routinely about 40 points more likely than Republicans to view the coronavirus as a major threat to the health of the U.S. population. This gap has waned as overall levels of concern have fallen," reads the report.

More via the Epoch Times;

The survey found that three in ten Democrats under 50 have received an updated COVID-19 vaccine, compared with 66 percent of Democrats ages 65 and older.

Moreover, 66 percent of Democrats ages 65 and older have received the updated COVID-19 vaccine, while only 24 percent of Republicans ages 65 and older have done so.

“This 42-point partisan gap is much wider now than at other points since the start of the outbreak. For instance, in August 2021, 93 percent of older Democrats and 78 percent of older Republicans said they had received all the shots needed to be fully vaccinated (a 15-point gap),” it noted.

COVID-19 No Longer an Emergency

The U.S. Centers for Disease Control and Prevention (CDC) recently issued its updated recommendations for the virus, which no longer require people to stay home for five days after testing positive for COVID-19.

The updated guidance recommends that people who contracted a respiratory virus stay home, and they can resume normal activities when their symptoms improve overall and their fever subsides for 24 hours without medication.

“We still must use the commonsense solutions we know work to protect ourselves and others from serious illness from respiratory viruses, this includes vaccination, treatment, and staying home when we get sick,” CDC director Dr. Mandy Cohen said in a statement.

The CDC said that while the virus remains a threat, it is now less likely to cause severe illness because of widespread immunity and improved tools to prevent and treat the disease.

Importantly, states and countries that have already adjusted recommended isolation times have not seen increased hospitalizations or deaths related to COVID-19,” it stated.

The federal government suspended its free at-home COVID-19 test program on March 8, according to a website set up by the government, following a decrease in COVID-19-related hospitalizations.

According to the CDC, hospitalization rates for COVID-19 and influenza diseases remain “elevated” but are decreasing in some parts of the United States.

Tyler Durden Sun, 03/10/2024 - 22:45

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Rand Paul Teases Senate GOP Leader Run – Musk Says “I Would Support”

Rand Paul Teases Senate GOP Leader Run – Musk Says "I Would Support"

Republican Kentucky Senator Rand Paul on Friday hinted that he may jump…

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Rand Paul Teases Senate GOP Leader Run - Musk Says "I Would Support"

Republican Kentucky Senator Rand Paul on Friday hinted that he may jump into the race to become the next Senate GOP leader, and Elon Musk was quick to support the idea. Republicans must find a successor for periodically malfunctioning Mitch McConnell, who recently announced he'll step down in November, though intending to keep his Senate seat until his term ends in January 2027, when he'd be within weeks of turning 86. 

So far, the announced field consists of two quintessential establishment types: John Cornyn of Texas and John Thune of South Dakota. While John Barrasso's name had been thrown around as one of "The Three Johns" considered top contenders, the Wyoming senator on Tuesday said he'll instead seek the number two slot as party whip. 

Paul used X to tease his potential bid for the position which -- if the GOP takes back the upper chamber in November -- could graduate from Minority Leader to Majority Leader. He started by telling his 5.1 million followers he'd had lots of people asking him about his interest in running...

...then followed up with a poll in which he predictably annihilated Cornyn and Thune, taking a 96% share as of Friday night, with the other two below 2% each. 

Elon Musk was quick to back the idea of Paul as GOP leader, while daring Cornyn and Thune to follow Paul's lead by throwing their names out for consideration by the Twitter-verse X-verse. 

Paul has been a stalwart opponent of security-state mass surveillance, foreign interventionism -- to include shoveling billions of dollars into the proxy war in Ukraine -- and out-of-control spending in general. He demonstrated the latter passion on the Senate floor this week as he ridiculed the latest kick-the-can spending package:   

In February, Paul used Senate rules to force his colleagues into a grueling Super Bowl weekend of votes, as he worked to derail a $95 billion foreign aid bill. "I think we should stay here as long as it takes,” said Paul. “If it takes a week or a month, I’ll force them to stay here to discuss why they think the border of Ukraine is more important than the US border.”

Don't expect a Majority Leader Paul to ditch the filibuster -- he's been a hardy user of the legislative delay tactic. In 2013, he spoke for 13 hours to fight the nomination of John Brennan as CIA director. In 2015, he orated for 10-and-a-half-hours to oppose extension of the Patriot Act

Rand Paul amid his 10 1/2 hour filibuster in 2015

Among the general public, Paul is probably best known as Capitol Hill's chief tormentor of Dr. Anthony Fauci, who was director of the National Institute of Allergy and Infectious Disease during the Covid-19 pandemic. Paul says the evidence indicates the virus emerged from China's Wuhan Institute of Virology. He's accused Fauci and other members of the US government public health apparatus of evading questions about their funding of the Chinese lab's "gain of function" research, which takes natural viruses and morphs them into something more dangerous. Paul has pointedly said that Fauci committed perjury in congressional hearings and that he belongs in jail "without question."   

Musk is neither the only nor the first noteworthy figure to back Paul for party leader. Just hours after McConnell announced his upcoming step-down from leadership, independent 2024 presidential candidate Robert F. Kennedy, Jr voiced his support: 

In a testament to the extent to which the establishment recoils at the libertarian-minded Paul, mainstream media outlets -- which have been quick to report on other developments in the majority leader race -- pretended not to notice that Paul had signaled his interest in the job. More than 24 hours after Paul's test-the-waters tweet-fest began, not a single major outlet had brought it to the attention of their audience. 

That may be his strongest endorsement yet. 

Tyler Durden Sun, 03/10/2024 - 20:25

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The Great Replacement Loophole: Illegal Immigrants Score 5-Year Work Benefit While “Waiting” For Deporation, Asylum

The Great Replacement Loophole: Illegal Immigrants Score 5-Year Work Benefit While "Waiting" For Deporation, Asylum

Over the past several…

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The Great Replacement Loophole: Illegal Immigrants Score 5-Year Work Benefit While "Waiting" For Deporation, Asylum

Over the past several months we've pointed out that there has  been zero job creation for native-born workers since the summer of 2018...

... and that since Joe Biden was sworn into office, most of the post-pandemic job gains the administration continuously brags about have gone foreign-born (read immigrants, mostly illegal ones) workers.

And while the left might find this data almost as verboten as FBI crime statistics - as it directly supports the so-called "great replacement theory" we're not supposed to discuss - it also coincides with record numbers of illegal crossings into the United States under Biden.

In short, the Biden administration opened the floodgates, 10 million illegal immigrants poured into the country, and most of the post-pandemic "jobs recovery" went to foreign-born workers, of which illegal immigrants represent the largest chunk.

Asylum seekers from Venezuela await work permits on June 28, 2023 (via the Chicago Tribune)

'But Tyler, illegal immigrants can't possibly work in the United States whilst awaiting their asylum hearings,' one might hear from the peanut gallery. On the contrary: ever since Biden reversed a key aspect of Trump's labor policies, all illegal immigrants - even those awaiting deportation proceedings - have been given carte blanche to work while awaiting said proceedings for up to five years...

... something which even Elon Musk was shocked to learn.

Which leads us to another question: recall that the primary concern for the Biden admin for much of 2022 and 2023 was soaring prices, i.e., relentless inflation in general, and rising wages in particular, which in turn prompted even Goldman to admit two years ago that the diabolical wage-price spiral had been unleashed in the US (diabolical, because nothing absent a major economic shock, read recession or depression, can short-circuit it once it is in place).

Well, there is one other thing that can break the wage-price spiral loop: a flood of ultra-cheap illegal immigrant workers. But don't take our word for it: here is Fed Chair Jerome Powell himself during his February 60 Minutes interview:

PELLEY: Why was immigration important?

POWELL: Because, you know, immigrants come in, and they tend to work at a rate that is at or above that for non-immigrants. Immigrants who come to the country tend to be in the workforce at a slightly higher level than native Americans do. But that's largely because of the age difference. They tend to skew younger.

PELLEY: Why is immigration so important to the economy?

POWELL: Well, first of all, immigration policy is not the Fed's job. The immigration policy of the United States is really important and really much under discussion right now, and that's none of our business. We don't set immigration policy. We don't comment on it.

I will say, over time, though, the U.S. economy has benefited from immigration. And, frankly, just in the last, year a big part of the story of the labor market coming back into better balance is immigration returning to levels that were more typical of the pre-pandemic era.

PELLEY: The country needed the workers.

POWELL: It did. And so, that's what's been happening.

Translation: Immigrants work hard, and Americans are lazy. But much more importantly, since illegal immigrants will work for any pay, and since Biden's Department of Homeland Security, via its Citizenship and Immigration Services Agency, has made it so illegal immigrants can work in the US perfectly legally for up to 5 years (if not more), one can argue that the flood of illegals through the southern border has been the primary reason why inflation - or rather mostly wage inflation, that all too critical component of the wage-price spiral  - has moderated in in the past year, when the US labor market suddenly found itself flooded with millions of perfectly eligible workers, who just also happen to be illegal immigrants and thus have zero wage bargaining options.

None of this is to suggest that the relentless flood of immigrants into the US is not also driven by voting and census concerns - something Elon Musk has been pounding the table on in recent weeks, and has gone so far to call it "the biggest corruption of American democracy in the 21st century", but in retrospect, one can also argue that the only modest success the Biden admin has had in the past year - namely bringing inflation down from a torrid 9% annual rate to "only" 3% - has also been due to the millions of illegals he's imported into the country.

We would be remiss if we didn't also note that this so often carries catastrophic short-term consequences for the social fabric of the country (the Laken Riley fiasco being only the latest example), not to mention the far more dire long-term consequences for the future of the US - chief among them the trillions of dollars in debt the US will need to incur to pay for all those new illegal immigrants Democrat voters and low-paid workers. This is on top of the labor revolution that will kick in once AI leads to mass layoffs among high-paying, white-collar jobs, after which all those newly laid off native-born workers hoping to trade down to lower paying (if available) jobs will discover that hardened criminals from Honduras or Guatemala have already taken them, all thanks to Joe Biden.

Tyler Durden Sun, 03/10/2024 - 19:15

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