26 Sep '16, 12pm

Ascent Solar in dash for cash as sales plummet and heavy losses continue

Ascent Solar in dash for cash as sales plummet and heavy losses continue

Ascent Solar Technologies expects to raise US$1.12 million in a US$1.35 million Series J 10% Convertible Preferred Stock placement with an unidentified investor. Image: Ascent Solar Struggling flexible CIGS thin-film consumer product producer Ascent Solar Technologies expects to raise US$1.12 million in a US$1.35 million Series J 10% Convertible Preferred Stock placement with an unidentified investor. Ascent Solar had cited a catalogue of woes over plummeting sales in the first half of 2016, while significant losses persisted. The company had reported in August that total revenue in the first half of 2016 had plummeted to only US$966,000, compared to US$2.89 million in the prior year period, while losses reached US$14.64 million, up from losses of US$13.85 million in the prior year period. Initial gross proceeds of the latest share offering are US$225,000, with the remaini...

Full article: http://www.pv-tech.org/news/ascent-solar-in-dash-for-cash...

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