Liquidity and Continued Operations	12 Months Ended
Dec. 31, 2011
Liquidity and Continued Operations
Liquidity and Continued Operations	LIQUIDITY AND CONTINUED OPERATIONS As of December 31, 2011, the Company had approximately $23.9 million in cash and investments and working capital of approximately $22.3 million. An additional $1.4 million in cash is restricted for future payments on equipment. Through December 31, 2011, sales of $0.3 million were completed through the At-The-Market facility. As discussed in Note 2, the Company is in the development stage and is currently incurring significant losses from operations as it works toward commercialization. The Company made cash payments of approximately $9.7 million in the year ended December 31, 2011 for property, plant and equipment. The Company has remaining obligations for equipment purchases in the approximate amount of $4.1 million, of which approximately $1.6 million is recorded in “Accrued property, plant and equipment”. On March 31, 2011, the Company announced a change in strategy that, in the near term, will focus its solar module technology on applications for emerging and specialty markets. Longer term the Company intends to participate in the building integrated market. The change in strategy resulted in a change in leadership and sizing the company to a new cost structure, primarily through the termination of a portion of the Company’s workforce. The Company incurred a charge of approximately $450,000 in the quarter ended March 31, 2011, comprised of severance costs. This charge has been expensed as “Research and development” and “Selling, general and administrative” in the Statement of Operations in the amounts of approximately $72,000 and $378,000, respectively. Approximately $139,000 is recorded under "Accrued expenses" in the Balance Sheets as of December 31, 2011. Due to recent significant adverse changes in market conditions, particularly the decreases in current and expected average selling prices for PV modules, the Company concluded in the quarter ended June 30, 2011 that the carrying value of Property, Plant and Equipment and Deposits on manufacturing equipment may not be recoverable and a non-cash impairment charge of approximately $78.0 million was recorded. See Note 10. Impairment for additional information. The Company has commenced limited production at its manufacturing facility. The Company does not expect that sales revenue and cash flows will be sufficient to support operations and cash requirements until actual full production capacity is achieved. Changes in the level of expected operating losses, the timing of planned capital expenditures or other factors may negatively impact cash flows and reduce current cash and investments faster than anticipated. The Company will need to raise additional capital or financing in the future. There is no assurance that the Company will be able to raise additional capital on acceptable terms or at all. The Company expects its current cash balance to be sufficient to cover planned capital and operational expenditures through December 31, 2012 based on currently known factors.

LIQUIDITY AND CONTINUED OPERATIONS

As of December 31, 2011, the Company had approximately $23.9 million in cash and investments and working capital of approximately $22.3 million. An additional $1.4 million in cash is restricted for future payments on equipment. Through December 31, 2011, sales of $0.3 million were completed through the At-The-Market facility. As discussed in Note 2, the Company is in the development stage and is currently incurring significant losses from operations as it works toward commercialization. The Company made cash payments of approximately $9.7 million in the year ended December 31, 2011 for property, plant and equipment. The Company has remaining obligations for equipment purchases in the approximate amount of $4.1 million, of which approximately $1.6 million is recorded in “Accrued property, plant and equipment”.

On March 31, 2011, the Company announced a change in strategy that, in the near term, will focus its solar module technology on applications for emerging and specialty markets. Longer term the Company intends to participate in the building integrated market. The change in strategy resulted in a change in leadership and sizing the company to a new cost structure, primarily through the termination of a portion of the Company’s workforce. The Company incurred a charge of approximately $450,000 in the quarter ended March 31, 2011, comprised of severance costs. This charge has been expensed as “Research and development” and “Selling, general and administrative” in the Statement of Operations in the amounts of approximately $72,000 and $378,000, respectively. Approximately $139,000 is recorded under "Accrued expenses" in the Balance Sheets as of December 31, 2011.

Due to recent significant adverse changes in market conditions, particularly the decreases in current and expected average selling prices for PV modules, the Company concluded in the quarter ended June 30, 2011 that the carrying value of Property, Plant and Equipment and Deposits on manufacturing equipment may not be recoverable and a non-cash impairment charge of approximately $78.0 million was recorded. See Note 10. Impairment for additional information.

The Company has commenced limited production at its manufacturing facility. The Company does not expect that sales revenue and cash flows will be sufficient to support operations and cash requirements until actual full production capacity is achieved. Changes in the level of expected operating losses, the timing of planned capital expenditures or other factors may negatively impact cash flows and reduce current cash and investments faster than anticipated. The Company will need to raise additional capital or financing in the future. There is no assurance that the Company will be able to raise additional capital on acceptable terms or at all. The Company expects its current cash balance to be sufficient to cover planned capital and operational expenditures through December 31, 2012 based on currently known factors.