Ascent Solar Technologies, Inc. (NASDAQ:ASTI) Can Drop Again to the Bottom as Plans Fail
[[tagnumber 0]]Ascent Solar Technologies, Inc. (NASDAQ:ASTI) stock looks very bearish this week after the company announced the failure of its plan to build a manufacturing facility in China. ASTI intended sale of its headquarters was canceled as well and the company‘s stock seems only good for a short trade recently.[[tagnumber 1]] [[tagnumber 0]][[tagnumber 3]][[tagnumber 1]] [[tagnumber 0]]ASTI closed the last trading session at $0.225 for a share which is 1.36% down from the previous close. The marker consolidated yesterday while the trading volume declined further. Technical indicators on ASTI chart took a bearish position and the stock could lose ground again next week, unless the company files its second quarter financial report and gets again the interest of traders.[[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]] [[tagnumber 0]]News about ASTI have been very bearish in the last couple of weeks. On Tuesday, the company filed an 8–K announcing the termination of an agreement entered into in December 2013. The agreement was with the Government of the Municipal City of Suqian which is located in a Chinese province. The company was supposed to make a join venture for the building of a factory in Suqian to manufacture photovoltaic modules.[[tagnumber 10]][[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]] [[tagnumber 0]]Fortunately for ASTI, which had almost no liquid assets at the end of the first quarter, no ongoing liabilities are expected to arise from the failure of that project. Another plan failed as well, already during the ordinary due diligence procedure– the sale of the company‘s headquarters building in Colorado.[[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]] [[tagnumber 0]]Meanwhile, ASTI diluted its shareholders with 1.5 million newly issued common shares as a result of the cancellation of some warrants. Another 6.8 million shares are reserved for issuance to the same investor by November 2015.[[tagnumber 1]] [[tagnumber 20]] [[tagnumber 1]]
