10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________________________________________ 

FORM 10-Q

 ______________________________________________________

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2014

or

o TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Transition Period from             to             

Commission File No. 001-32919

______________________________________________________ 

Ascent Solar Technologies, Inc.

(Exact name of registrant as specified in its charter)

 _______________________________________________________

Delaware	20-3672603
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
12300 Grant Street, Thornton, CO	80241
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number including area code: 720-872-5000

_________________________________________________________

Indicate by check mark whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    x  Yes    o  No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act:

Large accelerated filer	o	Accelerated filer	o
Non-accelerated filer	o  (Do not check if a smaller reporting company)	Smaller reporting company	x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  o    No  x

As of July 31, 2014, there were 97,828,234 shares of our common stock issued and outstanding.

ASCENT SOLAR TECHNOLOGIES, INC.

Quarterly Report on Form 10-Q

Quarterly Period Ended June 30, 2014

Table of Contents

PART I. FINANCIAL INFORMATION
Item 1.	Condensed Financial Statements (unaudited)	3
	Condensed Balance Sheets—As of June 30, 2014 and December 31, 2013	3
	Condensed Statements of Operations—For the three months ended June 30, 2014 and June 30, 2013 and for the period from inception (October 18, 2005) through June 30, 2014	4
	Condensed Statements of Cash Flows—For the three months ended June 30, 2014 and June 30, 2013 and for the period from inception (October 18, 2005) through June 30, 2014	5
	Notes to Condensed Financial Statements	6
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	16
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	23
Item 4.	Controls and Procedures	23
PART II. OTHER INFORMATION
Item 1.	Legal Proceedings	24
Item 1A.	Risk Factors	24
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	24
Item 3.	Defaults Upon Senior Securities	24
Item 4.	Mine Safety Disclosures	24
Item 5.	Other Information	24
Item 6.	Exhibits	24
SIGNATURES		26
EXHIBIT INDEX		27

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PART I. FINANCIAL INFORMATION

Item 1. Condensed Financial Statements

ASCENT SOLAR TECHNOLOGIES, INC.

(A Development Stage Company)

CONDENSED BALANCE SHEETS

(Unaudited)

	June 30, 2014			December 31, 2013
ASSETS
Current Assets:
Cash and cash equivalents	$	1,326,256		$	3,318,155
Trade receivables	1,178,606			458,076
Related party receivables and deposits	134,200			21,122
Inventories	2,334,116			1,887,612
Prepaid expenses and other current assets	1,153,453			1,157,484
Total current assets	6,126,631			6,842,449
Property, Plant and Equipment:	38,668,416			38,614,905
Less accumulated depreciation and amortization	(20,804,558		)	(17,850,688		)
	17,863,858			20,764,217
Other Assets:
Patents, net of amortization of $92,650 and $83,364, respectively	1,125,768			879,541
Other non-current assets	165,938			52,813
	1,291,706			932,354
Total Assets	$	25,282,195		$	28,539,020
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	569,818		$	442,754
Accrued expenses	2,608,986			1,800,369
Current portion of long-term debt	292,427			282,960
Current Portion of Litigation Settlement	471,559			—
Make-whole dividend liability	5,518,860			3,146,156
Total current liabilities	9,461,650			5,672,239
Accrued Litigation Settlement, net of current portion	1,133,299			1,317,500
Long-Term Debt, net of current portion	5,918,556			6,067,175
Accrued Warranty Liability	54,000			47,937
Commitments and Contingencies (Notes 4 & 12)
Stockholders’ Equity:
Series A preferred stock, $.0001 par value; 750,000 shares authorized and issued; 212,390 and 362,390 shares outstanding as of June 30, 2014 and December 31, 2013, respectively ($2,548,680 Liquidation Preference)	21			36
Series B-1 preferred stock, $.0001 par value; 1,000 shares authorized and issued; 0 and 350 shares outstanding as of June 30, 2014 and December 31, 2013, respectively	—			—
Series C preferred stock, $.0001 par value; 1000 shares authorized and 630 shares issued; 530 and 0 shares outstanding as of June 30, 2014 and December 31, 2013, respectively ($9,969,300 Liquidation Preference)	—			—
Common stock, $0.0001 par value, 250,000,000 shares authorized; 87,964,103 and 61,748,524 shares issued and outstanding, respectively	8,796			6,175
Additional paid in capital	283,825,284			263,270,005
Deficit accumulated during the development stage	(275,119,411		)	(247,842,047		)
Total stockholders’ equity	8,714,690			15,434,169
Total Liabilities and Stockholders’ Equity	$	25,282,195		$	28,539,020

The accompanying notes are an integral part of these condensed financial statements.

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ASCENT SOLAR TECHNOLOGIES, INC.

(A Development Stage Company)

CONDENSED STATEMENTS OF OPERATIONS

(Unaudited)

	For the Three Months Ended						For the Six Months Ended						For the Period from Inception (October 18, 2005) Through June 30, 2014
	June 30,						June 30,
	2014			2013			2014			2013
Revenues
Products *	$	992,064		$	166,271		$	1,664,147		$	341,956		$	4,709,934
Government contracts	98,316			58,780			179,297			118,032			10,045,299
Total Revenues	1,090,380			225,051			1,843,444			459,988			14,755,233
Costs and Expenses
Research, development and manufacturing operations	5,787,290			5,590,336			11,007,367			10,910,565			132,764,123
Selling, general and administrative	3,196,079			1,610,822			6,307,386			2,853,413			54,528,687
Impairment loss	—			—			—			—			83,993,440
Total Costs and Expenses	8,983,369			7,201,158			17,314,753			13,763,978			271,286,250
Loss from Operations	(7,892,989		)	(6,976,107		)	(15,471,309		)	(13,303,990		)	(256,531,017		)
Other Income/(Expense)
Other Income/(Expense), net	(1,073,991		)	(107,017		)	(1,530,440		)	(213,485		)	(1,061,634		)
Change in fair value of make-whole dividend liability	(1,452,661		)	—			(2,188,115		)	—			(3,503,498		)
Total Other Income/(Expense)	(2,526,652		)	(107,017		)	(3,718,555		)	(213,485		)	(4,565,132		)
Net Loss	$	(10,419,641	)	$	(7,083,124	)	$	(19,189,864	)	$	(13,517,475	)	$	(261,096,149	)
Deemed dividend on Preferred Stock and accretion of warrants	(5,167,500		)	(597,259		)	(8,087,500		)	(597,259		)	(14,023,262		)
Net Loss applicable to common stockholders	$	(15,587,141	)	$	(7,680,383	)	$	(27,277,364	)	$	(14,114,734	)	$	(275,119,411	)
Net Loss Per Share (Basic and diluted)	$	(0.19	)	$	(0.15	)	$	(0.37	)	$	(0.27	)
Weighted Average Common Shares Outstanding (Basic and diluted)	81,032,288			52,931,642			73,721,905			52,137,145

* Includes related party revenue of $555,230 for the period from inception through June 30, 2014.

The accompanying notes are an integral part of these condensed financial statements.

4

ASCENT SOLAR TECHNOLOGIES, INC.

(A Development Stage Company)

CONDENSED STATEMENTS OF CASH FLOWS

(Unaudited)

							For the Period  from Inception (October 18, 2005) through June 30,
	Six Months Ended
	June 30,
	2014			2013			2014
Operating Activities:
Net loss	$	(19,189,864	)	$	(13,517,475	)	$	(261,096,149	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,975,428			3,096,426			33,714,429
Share based compensation	425,323			367,918			13,858,520
Common stock issued for services	—			65,000			201,949
Realized loss on forward contracts	—			—			1,430,766
Foreign currency transaction loss (gain)	—			—			(590,433		)
Amortization of financing costs and discounts	—			—			998,565
Impairment loss	—			—			83,993,440
Contract cancellation loss	—			—			1,167,586
Loss on extinguishment of liabilities	983,013			—			1,142,855
Accrued litigation settlement	287,358			—			1,987,358
Change in fair value of make-whole dividend liability	2,188,115			—			3,503,498
Changes in operating assets and liabilities:
Accounts receivable	(720,530		)	(35,228		)	(1,178,606		)
Related party receivables and deposits	(113,078		)	421,222			(134,200		)
Inventories	(446,504		)	80,863			(2,334,116		)
Prepaid expenses and other current assets	4,031			(271,502		)	(1,153,453		)
Accounts payable	127,064			(514,086		)	569,817
Accrued expenses	808,618			322,607			1,275,450
Warranty reserve	6,063			3,216			54,000
Net cash used in operating activities	(12,664,963		)	(9,981,039		)	(122,588,724		)
Investing Activities:
Purchases of available-for-sale securities	—			—			(907,118,828		)
Maturities and sales of available-for-sale securities	—			—			907,118,828
Purchase of property, plant and equipment	(53,511		)	(648,056		)	(135,395,255		)
Patent activity costs	(265,911		)	(261,052		)	(1,203,858		)
Net cash used in investing activities	(319,422		)	(909,108		)	(136,599,113		)
Financing Activities:
Proceeds from bridge loan financing	—			—			1,600,000
Repayment of bridge loan financing	—			—			(1,600,000		)
Payment of debt financing costs	(115,000		)	—			(388,565		)
Payment of equity offering costs	—			—			(10,514,523		)
Proceeds from debt	—			—			7,700,000
Repayment of debt	(139,152		)	(130,288		)	(2,589,018		)
Proceeds from shareholder under Section 16(b)	—			—			148,109
Proceeds from issuance of stock and warrants	11,246,638			2,395,017			266,206,218
Redemption of Class A warrants	—			—			(48,128		)
Net cash provided by financing activities	10,992,486			2,264,729			260,514,093
Net change in cash and cash equivalents	(1,991,899		)	(8,625,418		)	1,326,256
Cash and cash equivalents at beginning of period	3,318,155			12,621,477			—
Cash and cash equivalents at end of period	$	1,326,256		$	3,996,059		$	1,326,256
Non-Cash Transactions:
ITN initial contribution of assets for equity	$	—		$	—		$	31,200
Note with ITN and related capital expenditures	$	—		$	—		$	1,100,000
Non-cash conversions of preferred stock	$	7,902,911		$	—		$	9,586,837
Make-whole provision on convertible preferred stock	$	8,087,500		$	332,000		$	11,602,199
Beneficial conversion feature on convertible preferred stock	$	—		$	265,259		$	2,421,063

The accompanying notes are an integral part of these condensed financial statements.

5

ASCENT SOLAR TECHNOLOGIES, INC.

(A Development Stage Company)

NOTES TO CONDENSED FINANCIAL STATEMENTS

(Unaudited)

NOTE 1. ORGANIZATION

Ascent Solar Technologies, Inc. (“Ascent” or “the Company”) was incorporated on October 18, 2005 from the separation by ITN Energy Systems, Inc. (“ITN”) of its Advanced Photovoltaic Division and all of that division’s key personnel and core technologies. ITN, a private company incorporated in 1994, is an incubator dedicated to the development of thin-film, photovoltaic (“PV”), battery, fuel cell and nano technologies. Through its work on research and development contracts for private and governmental entities, ITN developed proprietary processing and manufacturing know-how applicable to PV products generally, and to Copper-Indium-Gallium-diSelenide (“CIGS”) PV products in particular. ITN formed Ascent to commercialize its investment in CIGS PV technologies. In January 2006, in exchange for 1,028,000 shares of common stock of Ascent, ITN assigned to Ascent certain CIGS PV technologies and trade secrets and granted to Ascent a perpetual, exclusive, royalty-free worldwide license to use, in connection with the manufacture, development, marketing and commercialization of CIGS PV to produce solar power, certain of ITN’s existing and future proprietary and control technologies that, although non-specific to CIGS PV, Ascent believes will be useful in its production of PV modules for its target markets. Upon receipt of the necessary government approvals and pursuant to novation in early 2007, ITN assigned government-funded research and development contracts to Ascent and also transferred the key personnel working on the contracts to Ascent.

Currently, the Company is producing consumer oriented products focusing on charging mobile devices powered by or enhanced by the Company's solar modules. Products in these markets are priced based on the overall product value proposition rather than a commodity-style price per watt basis. The Company continues to develop new consumer products and has adjusted utilization of its equipment to meet near term sales forecasts.

NOTE 2. BASIS OF PRESENTATION

The Company’s activities to date have consisted substantially of raising capital, research and development, establishment and development of the Company's production plant, product development and establishing a sales channel for its line of consumer products which is sold under the EnerPlex™ brand. A development stage entity is defined as an entity devoting substantially all of its efforts to establishing a new business and for which either a) planned principal operations have not commenced or b) planned principal operations have commenced, but there has been no significant revenue therefrom. Revenues to date have been primarily generated from the Company’s governmental research and development contracts and have not been significant. The Company’s planned principal operations to commercialize flexible PV modules and PV integrated consumer products have commenced, but have generated limited revenue to date. The EnerPlex™ brand of consumer oriented products was introduced in 2012. Despite experiencing substantial sequential growth in the fourth quarter of 2013 and first half of 2014, total revenue to date has not been significant. Accordingly, the Company is considered to be in the development stage and has provided additional disclosure of inception to date activity in its Statements of Operations, Statements of Stockholders’ Equity and Statements of Cash Flows. Additionally, due to the development stage nature of the Company, the majority of the Company’s costs are considered to be research and development costs.

The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these interim financial statements do not include all of the information and footnotes typically found in U.S. GAAP audited annual financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair statement have been included. The Condensed Balance Sheet at December 31, 2013 has been derived from the audited financial statements as of that date but does not include all of the information and footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. These condensed financial statements and notes should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Operating results for the six months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014.

`NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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The Company’s significant accounting policies were described in Note 3 to the audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

In May 2014, FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). The update will establish a comprehensive revenue recognition standard for virtually all industries in GAAP. ASU 2014-09 will change the amount and timing of revenue and cost recognition, implementation, disclosures and documentation. ASU 2014-09 is effective for fiscal years beginning in 2017. The Company is researching whether the adoption of ASU 2014-09 will have a material effect on the Company’s consolidated financial statements.

NOTE 4. LIQUIDITY AND CONTINUED OPERATIONS

As of June 30, 2014, the Company had approximately $1.3 million in cash and cash equivalents. The Company is in the development stage and is currently incurring significant losses from operations as it works toward further commercialization. In February 2014, the Company completed the sale of 500 shares of Series B-1 preferred stock in a private placement for gross proceeds of $5.0 million. In May 2014, the Company completed the sale of 600 shares of Series C preferred stock in a private placement for gross proceeds of $6.0 million. On July 29, 2014, Ascent Solar Technology, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with SHTARD Enterprises Ltd. (the “Investor”). Pursuant to the terms of the Purchase Agreement, the Company issued and sold to the Investor 4,000,000 shares of the Company’s common stock in the aggregate original amount of $1,320,000 or $0.33 per share. On August 11, 2014, the Investor purchased an additional 8,000,000 shares from the Company at $0.33 per share or $2,640,000 total.

The Company has commenced 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 we have fully implemented our new consumer products strategy. During the first half of 2014, the Company used $12.7 million in cash for operations. For the remainder of 2014, the Company expects to incur a base level of maintenance capital expenditures and relatively minor improvements to the existing asset base along with an increased sales effort. As of June 30, 2014 the Company's primary significant long term obligation consists of a note payable of $6.2 million to a financial institution secured by a mortgage on its headquarters and manufacturing building in Thornton, Colorado. Total payments of $0.3 million, including principal and interest, on $6.2 million note payable will come due in the remainder of 2014.

On June 30, 2014, the Company entered into a Service Agreement with Swyft, Inc. (“Swyft”). Swyft will sell consumer products through automated retail stores (kiosks), provide online and mobile retail channels through a website and mobile application, and provide visual and text based advertising through both physical and digital channels. The Company will provide financing to Swyft in the form of a three year 8% convertible note to purchase seventy five (75) automated retail stores at $4,500 per store, or a total of $337,500, from ZoomSystems, the manufacturer of automated retail machines. The first convertible loan financing for thirty eight (38) automated retail stores of $171,000 was provided by the Company by July 31, 2014 and the second convertible loan financing for thirty seven (37) automated retail stores of $166,500 will be provided by the Company by January 7, 2015. The Company also has an option to continue loan financing for each additional block of fifty (50) automated retail stores. The Service Agreement also requires the Company to pay one time project set-up fees of $125,000 due within seventy five days after June 30, 2014, the effective date of the agreement.

The Company owes $1.6 million related to a litigation settlement reached in April 2014, which is being paid in equal installments over 40 months beginning in April 2014. Additional projected product revenues are not anticipated to result in a positive cash flow position for the year 2014 overall. However, the Company believes it will have sufficient cash liquidity for the year ending December 31, 2014, given the aforementioned new financing and additional financing that is expected to be secured in the second half of the year. We have begun activities related to securing additional financing through strategic or financial investors, but there is no assurance we will be able to raise additional capital on acceptable terms or at all. 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. If revenues do not increase rapidly, and/or additional financing is not obtained, we will be required to significantly curtail operations to reduce costs and/or sell assets. Such actions would likely have an adverse impact on our future operations.The Company is currently not in compliance with the NASDAQ minimum $1.00 bid price requirement. On March 27, 2014, the Company received approval to transfer its listing from the NASDAQ Global Market tier to the NASDAQ Capital Market tier, effective with opening of the market on March 28, 2014. The Company's common stock will continue to trade under the symbol “ASTI”.  The NASDAQ Capital Market is a continuous trading market that operates in substantially the same manner as the NASDAQ Global Market.Transfer of the Company's listing to the NASDAQ Capital Market resulted in an additional 180-day period within which to regain compliance with the $1.00 minimum bid price requirement, through September 15, 2014 (the "Compliance Date"). The Company intends to continue to monitor the bid price of its common stock. If the Company's common stock does not trade at a level that is likely to regain compliance with the NASDAQ requirements, the Company's Board of Directors may consider other options that may be available to achieve compliance. One option to regain compliance is a reverse stock split; however a reverse stock split could have negative implications. If at any time before the

7

Compliance Date, the closing bid price of the Company's common stock is at least $1.00 per share for at least ten consecutive business days, the Company will regain compliance with the price requirement. There is no assurance that the Company can demonstrate compliance by the Compliance Date or comply with the terms of the extension granted by NASDAQ, and the Company's common stock may then be subject to delisting.

NOTE 5. PROPERTY, PLANT AND EQUIPMENT

The following table summarizes property, plant and equipment as of June 30, 2014 and December 31, 2013:

	As of June 30,			As of December 31,
	2014			2013
Building	$	5,820,509		$	5,820,509
Furniture, fixtures, computer hardware and computer software	473,842			461,491
Manufacturing machinery and equipment	32,374,065			32,332,905
Net depreciable property, plant and equipment	38,668,416			38,614,905
Less: Accumulated depreciation and amortization	(20,804,558		)	(17,850,688		)
Net property, plant and equipment	$	17,863,858		$	20,764,217

The Company analyzes its long-lived assets for impairment, both individually and as a group, whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable.

Depreciation expense for the three months ended June 30, 2014 and 2013 was $1,493,944 and $1,544,282, respectively and for the six months ended June 30, 2014 and 2013 was $2,961,690 and $3,077,911, respectively. Depreciation expense is recorded under “Research, development and manufacturing operations” expense and “Selling, general and administrative” expense in the Condensed Statements of Operations.

NOTE 6. INVENTORIES

Inventories consisted of the following at June 30, 2014 and December 31, 2013:

	As of June 30,		As of December 31,
	2014		2013
Raw materials	$	1,246,936	$	1,190,079
Work in process	550,164		401,274
Finished goods	537,016		296,259
Total	$	2,334,116	$	1,887,612

NOTE 7. DEBT

On February 8, 2008, the Company acquired a manufacturing and office facility in Thornton, Colorado, for approximately $5.5 million. The purchase was financed by a promissory note, deed of trust and construction loan agreement (the “Construction Loan”) with the Colorado Housing and Finance Authority (“CHFA”), which provided the Company borrowing availability of up to $7.5 million for the building and building improvements. In 2009, the Construction Loan was converted to a permanent loan pursuant to a Loan Modification Agreement between the Company and CHFA (the “Permanent Loan”). The Permanent Loan, collateralized by the building, has an interest rate of 6.6% and the principal will be amortized through its term to January 2028. The Company will incur a prepayment penalty if the Permanent Loan is prepaid prior to December 31, 2015. Further, pursuant to certain negative covenants in the Permanent Loan, the Company may not, among other things, without CHFA’s prior written consent (which by the terms of the deed of trust is subject to a reasonableness requirement): create or incur additional indebtedness (other than obligations created or incurred in the ordinary course of business); merge or consolidate with any other entity; or make loans or advances to the Company’s officers, shareholders, directors or employees. The outstanding balance of the Permanent Loan was $6,210,983 as of June 30, 2014.

As of June 30, 2014, future principal payments on long-term debt are due as follows:

8

2014	$	143,808
2015	302,210
2016	322,771
2017	344,730
2018	368,183
Thereafter	4,729,281
	$	6,210,983

NOTE 8. MAKE-WHOLE DIVIDEND LIABILITY

In June 2013, the Company entered into a Series A Preferred Stock Purchase Agreement. Holders of Series A Preferred Stock are entitled to cumulative dividends at a rate of 8.0% per annum, with the dividend rate being indexed to the Company's stock price and subject to adjustment. Conversion or redemption of the Series A Preferred Stock within 4 years of issuance requires the Company pay a make-whole dividend to the holders, whereby dividends for the full four year period are to be paid in cash or common stock (valued at 10% below market price).

In October 2013, the Company entered into a Series B Preferred Stock Purchase Agreement. Holders of Series B Preferred Stock are entitled to cumulative dividends at a rate of 5.75% per annum, with the dividend rate being indexed to the Company's stock price and subject to adjustment. Conversion or redemption of the Series B Preferred Stock within 5 years of issuance requires the Company pay a make-whole dividend to the holders, whereby dividends for the full five year period are to be paid in cash or common stock (valued at 8% below market price, but not to exceed the lowest closing price paid during the applicable measurement period).

In May 2014, the Company entered into a Securities Purchase Agreement to issue 600 shares of Series C Preferred Stock to an investor in exchange for $6.0 million. Holders of Series C Preferred Stock are entitled to cumulative dividends at a rate of 5.75% per annum, when and if declared by the Board of Directors in its sole discretion. The dividends may be paid in cash or in the form of common stock (valued at 8% below market price, but not to exceed 92% of the lowest closing price during the applicable measurement period), at the discretion of the Board of Directors. The dividend rate on the Series C Preferred Stock is indexed to the Company's stock price and subject to adjustment. In addition, the Series C Preferred Stock contains an embedded dividend provision whereby, conversion or redemption of the preferred stock within 5 years of issuance will require dividends for the full five year period to be paid by the Company in cash or common stock (valued at 8% below market price, but not to exceed 92% of the lowest closing price during the applicable measurement period).

The Company concluded the make-whole dividends should be characterized as embedded derivatives under ASC 815. Make-whole dividends are expensed at the time of issuance and recorded as "Deemed dividends on Preferred Stock and accretion of warrants" in the Condensed Statements of Operations and "Make-whole dividend liability" in the Condensed Balance Sheets. During the six months ended June 30, 2014, the Company recorded $4.7 million for make-whole dividends related to the issuance of 630 Series C preferred shares. See Note 9. Stockholders' Equity.

The fair value of these dividend liabilities, which are indexed to the Company's common stock, must be evaluated at each period end. The fair value measurements rely primarily on Company-specific inputs and the Company’s own assumptions. With the absence of observable inputs, the Company determined these recurring fair value measurements reside primarily within Level 3 of the fair value hierarchy. Fair value determination required forecasting stock price volatility, expected average annual return and conversion date. During the six months ended June 30, 2014, the Company recorded a net increase in fair value of the liability in the amount of $2.2 million, recorded as "Change in fair value of make-whole dividend liability" in Other Income/(Expense) in the Condensed Statements of Operations and in the Condensed Statement of Cash Flows.

At June 30, 2014, there were 212,390 shares and 530 shares of Series A and Series C Preferred Shares outstanding, respectively. At June 30, 2014, the Company was entitled to redeem the outstanding Series A preferred shares for $1.7 million, plus a make-whole amount of $0.8 million, payable in cash or common shares. At June 30, 2014, the Company was entitled to redeem the outstanding Series C preferred shares for $5.3 million, plus a make-whole amount of $4.7 million , payable in cash or common shares. The combined fair value of the make-whole dividend liabilities for the Series A and Series C preferred shares, which approximates cash value, was $5.5 million as of June 30, 2014.

NOTE 9. STOCKHOLDERS’ EQUITY

Common Stock

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At June 30, 2014, the Company had 250,000,000 shares of common stock, $0.0001 par value, authorized for issuance. Each share of common stock has the right to one vote. As of June 30, 2014, the Company had 87,964,103 shares of common stock outstanding. The Company has not declared or paid any dividends related to the common stock through June 30, 2014.

Preferred Stock

At June 30, 2014, the Company had 25,000,000 shares of preferred stock, $0.0001 par value, authorized for issuance. Preferred stock may be issued in classes or series. Designations, powers, preferences, rights, qualifications, limitations and restrictions are determined by the Company’s Board of Directors. 750,000 shares have been designated as Series A preferred stock, 2,000 shares have been designated for Series B-1 and B-2 preferred stock, and 690 shares of Series C preferred stock. As of June 30, 2014, the Company had 212,390 shares of Series A preferred stock, no shares of Series B-1 preferred stock and no shares of Series B-2 preferred stock and 530 shares of Series C preferred stock outstanding. The Company has no declared unpaid dividends related to the preferred stock as of June 30, 2014.

Series A Preferred Stock

In June 2013, the Company entered into a Securities Purchase Agreement with an investor to sell an aggregate of 750,000 shares of Series A Preferred Stock at a price of $8.00 per share, resulting in gross proceeds of $6,000,000. This purchase agreement included warrants to purchase up to 2,625,000 shares of common stock of the Company. The transfer of cash and securities took place incrementally, the first closing occurring on June 17, 2013 with the transfer of 125,000 shares of Series A Preferred Stock and a warrant to purchase 437,500 shares of common stock for $1,000,000. The final closings took place in August 2013, with the transfer of 625,000 shares of Series A Preferred Stock and a warrant to purchase 2,187,500 shares of common stock for $5,000,000.

Holders of Series A Preferred Stock are entitled to cumulative dividends at a rate of 8.0% per annum when and if declared by the Board of Directors in its sole discretion. The dividends may be paid in cash or in the form of common stock (valued at 10% below market price, but not to exceed the lowest closing price during the applicable measurement period), at the discretion of the Board of Directors. The dividend rate on the Series A Preferred Stock is indexed to the Company's stock price and subject to adjustment. In addition, the Series A Preferred Stock contains a make-whole provision whereby, conversion or redemption of the preferred stock within 4 years of issuance will require dividends for the full four year period to be paid by the Company in cash or common stock (valued at 10% below market price, but not to exceed the lowest closing price during the applicable measurement period).

The Series A Preferred Stock may be converted into shares of common stock at the option of the Company if the closing price of the common stock exceeds $1.60, as adjusted, for 20 consecutive trading days, or by the holder at any time. The Company has the right to redeem the Series A Preferred Stock at a price of $8.00 per share, plus any accrued and unpaid dividends, plus the make-whole amount (if applicable). At June 30, 2014, the preferred shares were not eligible for conversion to common shares at the option of the Company. The holder of the preferred shares may convert to common shares at any time, at no cost, at a ratio of 1 preferred share into 10 common shares (subject to standard ratable anti-dilution adjustments). Upon any conversion (whether at the option of the Company or the holder), the holder is entitled to receive any accrued but unpaid dividends and also any make-whole amount (if applicable). See Note 8. Make-Whole Dividend Liability.

During the three months ended June 30, 2014, the holder of the Series A Preferred Shares converted 150,000 preferred shares into 1,500,000 shares of common stock. As a result of this conversion, the Company paid a make-whole dividend on the conversion of Series A preferred stock in the amount of 1,040,749 shares of common stock in lieu of a cash payment of $520,000. As of August 11, 2014 there were 212,390 Series A Preferred Shares outstanding.

Except as otherwise required by law (or with respect to approval of certain actions), the Series A Preferred Stock shall have no voting rights. Upon any liquidation, dissolution or winding up of the Company, after payment or provision for payment of debts and other liabilities of the Company, the holders of Series A Preferred Stock shall be entitled to receive, pari passu with any distribution to the holders of common stock of the Company, an amount equal to $8.00 per share of Series A Preferred Stock plus any accrued and unpaid dividends.

The warrants offered as part of the Securities Purchase Agreement have a three year term and require payment of an exercise price of $0.90 per common share to the Company.

The Securities Purchase Agreement for the Series A Preferred Stock required that the registration statement, filed on August 16, 2013, must be declared effective within 90 days of the filing date. If the registration statement was not declared effective by this date, damages of 1% of the total investment amount, or $60,000, plus interest, would have been owed by the Company to the Holder for each month until registration statement effectiveness is reached or the investment amount is repaid in full. The registration statement became effective on August 30, 2013, therefore any potential registration rights liability owed to the Holder by the Company was eliminated as of September 30, 2013.

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Series B Preferred Stock

In October 2013, the Company entered into a Securities Purchase Agreement with an investor to offer up to 1,000 shares of Series B-1 or Series B-2 preferred stock at a price of $10,000 per share, and gross proceeds of up to $10,000,000. The Company offered the Series B preferred stock in two tranches.  The first tranche closed on November 1, 2013, with the Company selling 500 shares of Series B-1 preferred stock in exchange for gross proceeds of $5,000,000. On January 20, 2014, at a special meeting of the stockholder's, the Company obtained stockholder approval for the offering. Delivery of the second tranche of $5,000,000 in exchange for 500 shares of Series B-1 preferred shares occurred on February 7, 2014. With the closing of both tranches resulting in the issuance of Series B-1 preferred shares, the Company will not offer Series B-2 preferred shares.

Holders of Series B preferred stock were entitled to cumulative dividends at a rate of 5.75% per annum when, and if, declared by the Board of Directors in its sole discretion. The dividends may be paid in cash or in the form of common stock (valued at 8% below market price, but not to exceed the lowest closing price during the applicable measurement period), at the discretion of the Board of Directors. The dividend rate on the Series B preferred stock is indexed to the Company's stock price and subject to adjustment. In addition, the Series B preferred stock contains an embedded dividend provision whereby, conversion or redemption of the preferred stock within 5 years of issuance will require dividends for the full five year period to be paid by the Company in cash or common stock (valued at 8% below market price, but not to exceed the lowest closing price during the applicable measurement period).

The Series B preferred stock may be converted into shares of common stock at the option of the Company if the closing price of the common stock exceeds $2.00, as adjusted, for 20 consecutive trading days, or by the holder at any time. The Company has the right to redeem the Series B preferred stock at a price of $10,000 per share, plus any accrued and unpaid dividends, plus the embedded dividend liability amount (if applicable). The holder of the Series B-1 preferred stock may convert to common shares at any time, at no cost, at a conversion price of $1.15 and a ratio of 1 preferred share into 8,696 common shares. Conversions by the holder are subject to standard ratable anti-dilution adjustments. Upon any conversion (whether at the option of the Company or the holder), the holder is entitled to receive any accrued but unpaid dividends and also any embedded dividend amount (if applicable). See Note 8. Make-whole dividend liability.

During the six months ended June 30, 2014, the holder of the Series B preferred stock converted all remaining 850 preferred shares into 7,391,304 shares of common stock. As a result of these conversions, the Company paid a make-whole dividends in the amount of 12,386,806 shares of common stock in lieu of a cash payment of $6,483,000.

Series C Preferred Stock

On April 1, 2014, the Company entered into a Securities Purchase Agreement to issue 600 shares of Series C Preferred Stock to an investor in exchange for $6.0 million.

The Series C Preferred Stock is convertible into common stock at a fixed conversion price of $1.15 per share of common stock. Holders of Series C Preferred Stock are entitled to cumulative dividends at a rate of 5.75% per annum when and if declared by the Board of Directors in its sole discretion. The dividends may be paid in cash or in the form of common stock (valued at 8% below market price, but not to exceed 92% of the lowest closing price during the applicable measurement period), at the discretion of the Board of Directors. The dividend rate on the Series C Preferred Stock is indexed to the Company's stock price and subject to adjustment. In addition, the Series C Preferred Stock contains an embedded dividend provision whereby, conversion or redemption of the preferred stock within 5 years of issuance will require dividends for the full five year period to be paid by the Company in cash or common stock (valued at 8% below market price, but not to exceed 92% of the lowest closing price during the applicable measurement period).

The Series C Preferred Stock may be converted into shares of common stock at the option of the Company if the closing price of the common stock exceeds $2.30, as adjusted, for 20 consecutive trading days, or by the holder at any time. The Company has the right to redeem the Series C Preferred Stock at a price of $10,000 per share, plus any accrued and unpaid dividends, plus the embedded dividend amount (if applicable). The holder of the Series C Preferred Stock may convert to common shares at any time, at no cost, at a conversion price of $1.15 and a ratio of 1 preferred share into 8,696 common shares. Conversions by the holder are subject to standard ratable anti-dilution adjustments. Upon any conversion (whether at the option of the Company or the holder), the holder is entitled to receive any accrued but unpaid dividends and also any embedded dividend amount (if applicable).

Except as otherwise required by law (or with respect to approval of certain actions), the Series C Preferred Stock shall have no voting rights. Upon any liquidation, dissolution or winding up of the Company, holders of Series C Preferred Stock will be entitled to be paid out of the Company's assets, on a parity with holders of the Company's common stock and the Company's Series A preferred stock, an amount equal to $10,000 per share plus any accrued but unpaid dividends thereon.

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In connection with the Securities Purchase Agreement, the Company entered into a Registration Rights Agreement (“RRA”). The RRA provides that if a resale registration statement is not to be declared effective on or before (i) the 30th day after April 1, 2014, the Company will be required to issue 30 additional shares of Series C Preferred Stock to the investor; (ii) the 60th day after April 1, 2014, the Company will be required to issue 30 additional shares of Series C Preferred Stock to the investor; and (iii) before the 90th day after April 1, 2014, the Company will be required to issue 30 additional shares of Series C Preferred Stock to the investor. Because the resale registration statement had not yet been declared effective, on May 1, 2014, the Company issued 30 additional shares of Series C Preferred Stock to the investor.

During the six months ended June 30, 2014, the holder of the Series C preferred stock converted 100 preferred shares into 869,565 shares of common stock. As a result of these conversions, the Company paid a make-whole dividends in the amount of 2,835,539 shares of common stock in lieu of a cash payment of $900,000. Subsequent to June 30, 2014, the holders of Series C Preferred Stock converted 275 preferred shares into a total of 7,472,827 common shares, which include make-whole dividends. As of August 11, 2014, there were 255 shares of Series C Preferred Stock outstanding.

NOTE 10. EQUITY PLANS AND SHARE-BASED COMPENSATION

Share-Based Compensation: The Company measures share-based compensation cost at the grant date based on the fair value of the award and recognizes this cost as an expense over the grant recipients’ requisite service periods for all awards made to employees, officers, directors and consultants.

The share-based compensation expense recognized in the Condensed Statements of Operations was as follows:

	For the three months ended June 30,				For the six months ended June 30,
	2014		2013		2014		2013
Share-based compensation cost included in:
Research and development	$	83,576	$	58,570	187,070		$	124,826
Selling, general and administrative	118,934		134,457		238,253		243,092
Total share-based compensation cost	$	202,510	$	193,027	$	425,323	$	367,918

The following table presents share-based compensation expense by type:

	For the three months ended June 30,				For the six months ended June 30,
	2014		2013		2014		2013
Type of Award:
Stock Options	$	83,247	$	96,595	215,539		$	201,545
Restricted Stock Units and Awards	119,263		96,432		209,784		166,373
Total share-based compensation cost	$	202,510	$	193,027	$	425,323	$	367,918

Stock Options: The Company recognized share-based compensation expense for stock options of $216,000 to officers, directors and employees for the six months ended June 30, 2014 related to stock option awards ultimately expected to vest. The weighted average estimated fair value of employee stock options granted for the six months ended June 30, 2014 and 2013 was $0.50 and $0.48 per share, respectively. Fair value was calculated using the Black-Scholes Model with the following assumptions:

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	For the six months ended June 30,
	2014	2013
Expected volatility	95%	97%
Risk free interest rate	2%	1%
Expected dividends	—	—
Expected life (in years)	5.9	5.2

Expected volatility is based on the historical volatility of the Company’s stock. The risk-free rate of return is based on the yield of U.S. Treasury bonds with a maturity equal to the expected term of the award. Historical data is used to estimate forfeitures within the Company’s valuation model. The Company’s expected life of stock option awards is derived from historical experience and represents the period of time that awards are expected to be outstanding.

As of June 30, 2014, total compensation cost related to non-vested stock options not yet recognized was $349,000 which is expected to be recognized over a weighted average period of approximately 1.7 years. As of June 30, 2014, 1,783,172 shares were vested or expected to vest in the future at a weighted average exercise price of $1.59. As of June 30, 2014, 614,967 shares remained available for future grants under the Option Plan.

Restricted Stock: In addition to the stock options discussed above, the Company recognized share-based compensation expense related to restricted stock grants of $210,000 for the six months ended June 30, 2014. The weighted average estimated fair value of restricted stock grants for the six months ended June 30, 2014 and 2013 was $0.71 and $0.62 per share, respectively.

Total unrecognized share-based compensation expense from unvested restricted stock as of June 30, 2014 was $207,000 which is expected to be recognized over a weighted average period of approximately 0.7 years. As of June 30, 2014, 583,406 shares were expected to vest in the future. As of June 30, 2014, 2,136,485 shares remained available for future grants under the Restricted Stock Plan.

NOTE 11. RELATED PARTY TRANSACTIONS

TFG Radiant Investment Group Ltd. and its affiliates ("TFG Radiant") own approximately 18%of the Company's outstanding common stock as ofJune 30, 2014.In February 2012, the Company announced the appointment of Victor Lee as President and Chief Executive Officer. Mr. Lee had served on the Company's Board of Directors since November 2011 and is currently the managing director of Tertius Financial Group Pte Ltd, the joint venture partner with Radiant Group in TFG Radiant. In April 2012,the Company appointed the Chairman of TFG Radiant, Mr. Winston Xu (aka Xu Biao), as a member of its Board of Directors.

In June 2012, the Company entered into a supply agreement and a contract manufacturing agreement with TFG Radiant. Under the terms of the contract manufacturing agreement, TFG Radiant will oversee certain aspects of the contract manufacturing process related to the Company's EnerPlex™ line of consumer products. The Company will compensate TFG Radiant for acting as general contractor in the contract manufacturing process. Under the supply agreement, TFG Radiant intends to distribute the Company's consumer products in Asia. In December 2012, the Company entered into a consulting services agreement with TFG Radiant for product design, product development and manufacturing coordinating activities provided by TFG Radiant to the Company in connection with the Company's new line of consumer electronic products. The consulting services agreement was terminated effective March 31, 2014.

During six months ended June 30, 2014, the Company made disbursements to TFG Radiant in the amount of $537,000, consisting of $200,000 for consulting fees and $337,000 for finished goods received and deposits for work-in-process. During the period from inception through June 30, 2014, the Company recognized revenue in the amount of $555,000 for products sold to TFG Radiant under the supply agreement. As of June 30, 2014 and December 31, 2013, the Company held $134,000and$21,000, respectively, in receivables and deposits with TFG Radiant.

NOTE 12. COMMITMENTS AND CONTINGENCIES

On October 21, 2011, the Company was notified that a complaint claiming $3 million for an investment banking fee (the “Lawsuit”) was filed by Jefferies & Company, Inc. (“Jefferies”) against the Company in New York State Supreme Court in the County of New York. In December 2010, Ascent and Jefferies entered into an engagement agreement (the “Fee Agreement”) pursuant to which Jefferies was hired to act as the Company's financial advisor in relation to certain potential transactions. In addition, Jefferies claimed an award for attorney's fees and prejudgment interest in the approximate amount of $1.2 million.

On April 16, 2014, the parties settled the lawsuit where the Company agreed to pay Jefferies a total of $2.0 million in equal installments over 40 months. The Company has paid $150,000 through June 30, 2014.

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The Company records a liability in its financial statements for costs related to claims, including settlements and judgments, where the Company has assessed that a loss is probable and an amount can be reasonably estimated. The Company accrued $1.7 million, the net present value of the $2.0 million settlement, as of December 31, 2013. As of June 30, 2014, $1.1 million was accrued for the long-term portion of this settlement and $0.5 million was recorded as Accrued litigation settlement, current portion, in the Condensed Balance Sheets.

On June 30, 2014, the Company entered into a Service Agreement with Swyft, Inc. (“Swyft”). Swyft will sell consumer products through automated retail stores (kiosks), provide online and mobile retail channels through a website and mobile application, and provide visual and text based advertising through both physical and digital channels. The Company will provide financing to Swyft in the form of a three year 8% convertible note to purchase seventy five (75) automated retail stores at $4,500 per store or a total of $337,500 from ZoomSystems, the manufacturer of automated retail machines. The first convertible loan financing for thirty eight (38) automated retail stores of $171,000 was provided by the Company by July 31, 2014 and the second convertible loan financing for thirty seven (37) automated retail stores of $166,500 will be provided by the Company by January 7, 2015. The Company also has an option to continue loan financing for each additional block of fifty (50) automated retail stores. The Service Agreement also requires the Company to pay one time project set-up fees of $125,000 due within seventy-five days after June 30, 2014, the effective date of the agreement.

NOTE 13. JOINT VENTURE

On December 28, 2013, the Company entered into a definitive agreement for the establishment of a joint venture with the Government of the Municipal City of Suqian in Jiangsu Province, China (“Suqian”).

The agreement covers a multi-faceted, three-phase project. Completion of all three phases would involve an anticipated investment of up to $500 million over 6 years, comprised of equipment, intellectual property and cash funded by Suqian, the Company, and other supporting investors to be brought in by the Company.

In the initial phase of the project, the Company and Suqian will form a joint venture entity (“JV”) in which Suqian will inject approximately $4.8 million in cash and have majority interest of 75%. The Company will inject approximately $1.6 million in cash and hold a minority interest of 25%. Later in 2014, Suqian will further inject the balance of the committed $32.5 million while the Company will contribute its proprietary technology and intellectual property, as well as certain equipment from its Colorado facility, thereby increasing the Company's shareholdings progressively up to an 80% ownership.

Under the terms of the definitive agreement, in phase 1 and phase 2 of the project, the Company is required to contribute to the JV manufacturing equipment, intellectual property assets, proprietary technology and know-how, and cash for its ownership share, and Suqian is required to contribute cash for its ownership share. Pursuant to the terms of the Definitive Agreement, the Company's total contribution for phase 1 and phase 2 is required to be approximately $130 million. Suqian's total contribution for phase 1 and phase 2 is required to be approximately $32 million.

Pursuant to the terms of the Definitive Agreement, Ascent and Suqian are required to ascribe a dollar value to the Company's non-cash contributions. The major milestone was the agreement by the Suqian government to credit approximately $77 million to the Company's contribution of its proprietary technology, which represents 60% towards Ascent's total required contribution of $130 million. In order to value the Company's intellectual property assets, the parties jointly agreed to hire an independent appraisal company located in China. The appraisal company has now completed that review and has submitted the valuation report to each of the JV partners. This report valued the Company's intellectual property assets at approximately $65 million, plus 20% premium added by Suqian government to bring the total value to $77 million. The remaining 40% of the Company's contribution will be in the form of some equipment from its Colorado plant and/or cash. The exact amounts of cash and equipment will be determined at a later date. These amounts of cash and equipment will depend, among other things, on an assessment of the contributed equipment by a Chinese appraisal firm mutually selected by the Company and Suqian.

The actual contributions of cash and other assets into the JV by the Company and Suqian will happen incrementally over time. In addition, under the Definitive Agreement, Suqian has agreed to provide rent-free use of the 331,000-square-foot manufacturing facility and office space that is currently being built for the Company in the Suqian Economic and Industrial Development Science Park.

The JV will build a factory to manufacture the Company's proprietary photovoltaic modules. The Company is committed to purchase this factory within the first 5 years at the initial construction cost, and will also purchase Suqian's ownership interest in the JV at a cost of 1.5 times Suqian's cash investment.

The implementation of the agreement, including the formation of the JV entity, will be subject to a number of contractual conditions and governmental approvals. Such conditions and approvals must be obtained in the future in order for the Suqian factory to be built and become operational.

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In December 2013, the Company established a wholly owned legal entity in Singapore (Ascent Solar (Asia) PTE. LTD. "Ascent Asia"). Ascent Asia was established initially to manage the Company's contract manufacturing partners in Asia.  In the longer term, this entity will serve as the Company's sales headquarters in Asia, in addition to providing management of regional warehousing operations. Any activity for Ascent Asia will be consolidated into the Company's financial statements.

NOTE 14. SUBSEQUENT EVENTOn July 29, 2014, Ascent Solar Technology, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with SHTARD Enterprises Ltd. (the “Investor”). Pursuant to the terms of the Purchase Agreement, the Company issued and sold to the Investor 4,000,000 shares of the Company’s common stock in the aggregate original amount of $1,320,000 or $0.33 per share. On August 11, 2014, the Investor purchased an additional 8,000,000 shares from the Company at $0.33 per share or $2,640,000 total.

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Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

The following discussion of our financial condition and results of operations should be read in conjunction with our unaudited financial statements and the notes to those financial statements appearing elsewhere in this Form 10-Q. This discussion and analysis contains statements of a forward-looking nature relating to future events or our future financial performance. As a result of many factors, our actual results may differ materially from those anticipated in these forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Overview

We are a development stage company formed to commercialize flexible photovoltaic modules using our proprietary technology. For the six months ended June 30, 2014, we generated $1.1 million of revenue. Our revenue from product sales was $1.0 million and our revenue from government research and development contracts was $0.1 million. As of June 30, 2014, we had an accumulated deficit of $275.1 million.

Our proprietary manufacturing process deposits multiple layers of materials, including a thin film of highly efficient copper-indium-gallium-diselenide (“CIGS”) semiconductor material, on a flexible, lightweight, high tech plastic substrate using a roll-to-roll manufacturing process and then laser patterns the layers to create interconnected photovoltaic ("PV") cells, or PV modules, in a process known as monolithic integration. We believe that our technology and manufacturing process, which results in a lighter, flexible module package, provides us with unique market opportunities relative to both the crystalline silicon (“c-Si”) based PV manufacturers that currently lead the PV market, as well as other thin film PV manufacturers that use substrate materials such as glass, stainless steel or other metals that can be heavier and more rigid than plastics.

We believe that the use of CIGS on a flexible, durable, lightweight, high tech plastic substrate will allow for unique and seamless integration of our PV modules into a variety of electronic products, building materials, defense, transportation and space applications, as well as other products and applications that may emerge. For markets that place a high premium on weight, such as consumer electronics, rooftop, defense, space, near space, and aeronautic markets, we believe our materials provide attractive increases in power-to-weight ratio, and we believe that our materials have higher power-to-area ratios and voltage-to-area ratios than competing flexible PV thin film technologies. We believe that our lightweight, flexible, and ultra-rugged technology is transformational in nature, and will provide us advantages in serving newly emerging specialty markets such as UAV’s (unmanned aerial vehicles) as well as BAPV (building applied photovoltaic) and other applications where it is not possible to add solar panels to existing structures using traditional crystalline solar technology.

In 2012, we added a new strategic focus to our business model by introducing consumer oriented products sold under the EnerPlex™ brand, concentrating on charging devices powered by or enhanced by our solar modules. Products in the consumer electronics market are priced based on the overall product value proposition rather than a commodity-style price per watt basis which only takes into account the value of the solar component. The majority of our resources are applied towards developing these consumer products; however we have maintained working relationships with co-development partners in developing products for a number of diverse PV integrated charging applications in industries such as: automotive, military, transportation, outdoor recreation and aerospace.

Notable EnerPlex product launches include:

• In June 2012, we introduced the EnerPlex Surfr™, a battery and a solar case for the Apple® iPhone® 4/4S smart phone featuring our ultra-light CIGS thin film technology integrated directly into the case. The case incorporates our ultra-light and thin PV module into a sleek, protective iPhone 4/4S case, along with a thin, life extending, battery. The charger adds minimal weight and size to an iPhone, yet provides supplemental charging when needed. In August of 2012, we announced the launch of the second version of Surfr for the Samsung® Galaxy S® III, which provides 85% additional battery life.

• December 2012, we introduced the EnerPlex Kickr™ and EnerPlex Jumpr™ product series. The Kickr IV is an extremely portable, compact and durable solar charging device, approximately seven inches by seven inches when folded, and weighs less than half a pound. The Kickr IV provides 6.5 watts of regulated power that can help charge phones, digital cameras, and other small USB enabled devices. The Kickr IV is ideal for outdoor activities such as camping, hiking and mountain climbing as well as daily city use. To complement the Kickr IV, we also released the Jumpr™ series of portable power banks. The Jumpr™ series provides a compact power storage solution for those who need to take the power of the sun with them on the go.

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• During 2013, the EnerPlex™ brand rapidly expanded adding two additional product series as well as over fifteen new products. In the beginning of 2013, we introduced new additions to the Jumpr™ line of portable power banks; releasing the Jumpr Mini in August, Jumpr Stack in August and Jumpr Max in September. The latest additions to the Kickr™ line of portable solar chargers, the Kickr I and Kickr II were introduced in August at the Outdoor Retailer show. Furthermore, in October 2013 we released our first series of solar integrated backpacks for consumer use, the Packr™, a fashion forward and functional pack perfect. Before the holiday season we debuted the third installment in our phone case line, the Sufr Battery & Solar case for the Samsung Galaxy S4.

• To date in 2014, we released the Surfr for the iPhone 5 & 5S and introduced the RedDot award winning Jumpr Slate 10K and 5K, the thinnest lithium polymer batteries currently available. In addition, we announced our intention to aggressively pursue a product expansion strategy aimed specifically at the outdoor market to complement our position in the urban consumer electronics market.

We continue to aggressively pursue new distribution channels for the EnerPlex™ brand and these activities have led to placement in a variety of high-traffic e-commerce venues, such as www. walmart.com, www.brookstone.com, www.newegg.com, as well as many others, including our own e-commerce platform at www.goenerplex.com. EnerPlex products are also carried in all 34 Fry’s Electronics stores across 9 states. Each store is provided with EnerPlex branded merchandising assets to highlight the uniqueness of our product lines. We began our direct sales to consumers through kiosks in the second half of 2013, and currently have 13 kiosks in 4 states (Colorado, California, Nevada and Texas) with plans for expansion throughout the remainder of 2014. The agreement with Swyft to deploy up to 200 automated retail stores (kiosks) will rapidly expend our direct sales channel.

Commercialization and Manufacturing Strategy

Our proprietary manufacturing process deposits multiple layers of materials, including a thin film of highly efficient Copper-Indium-Gallium-diSelenide (“CIGS”) semiconductor material, on a flexible, lightweight, plastic substrate using a roll-to-roll manufacturing process and then laser patterns the layers to create interconnected PV cells, or PV modules, in a process known as monolithic integration. Our monolithic integration techniques enable us to form complete PV modules with less or no costly back end assembly of intercell connections. Traditional PV manufacturers assemble PV modules by bonding or soldering discrete PV cells together. This manufacturing step typically increases manufacturing costs and at times proves detrimental to the overall yield and reliability of the finished product. By reducing or eliminating this added step using our proprietary monolithic integration techniques, we believe we can achieve cost savings in, and increase the reliability of, our PV modules. We believe our technology and manufacturing process, which results in a lighter, flexible module package, provides us with unique market opportunities relative to both the crystalline silicon (“c-Si”) based PV manufacturers that currently lead the PV market, as well as other thin-film PV manufacturers that use substrate materials such as glass, stainless steel or other metals that can be heavier and more rigid than plastics.

Currently, we are producing consumer oriented products focusing on charging devices powered by or enhanced by our solar modules. We continue to develop new consumer products and we have adjusted our utilization of our equipment to meet our near term forecast sales. We plan to continue the development of our current PV technology to increase module efficiency, improve our manufacturing tooling and process capabilities and reduce manufacturing costs. We also plan to continue to take advantage of research and development contracts to fund a portion of this development.

On December 28, 2013, we entered into a definitive agreement for the establishment of a joint venture with the Government of the Municipal City of Suqian in Jiangsu Province, China (“Suqian”).

The agreement covers a multi-faceted, three-phase project. Completion of all three phases would involve an anticipated investment of up to $500 million over 6 years, comprised of equipment, intellectual property and cash funded by Suqian, our business, and other supporting investors brought into the project by us.

In the initial phase of the project during 2014, we and Suqian will form a joint venture entity (“JV”) in which Suqian will inject approximately $4.8 million in cash and have a majority interest of 75%. We shall inject approximately $1.6 million in cash and hold a minority interest of 25%. Later in 2014, Suqian will further inject the balance of the committed $32.5 million while we will contribute our proprietary technology and intellectual property, as well as certain equipment from our Colorado facility, thereby increasing our shareholdings progressively up to an 80% ownership.

Under the terms of the definitive agreement, in phase 1 and phase 2 of the project, Ascent is required to contribute to the JV manufacturing equipment, intellectual property assets, proprietary technology and know-how, and cash for its ownership share, and Suqian is required to contribute cash for its ownership share. Pursuant to the terms of the Definitive Agreement, Ascent's total contribution for phase 1 and phase 2 is required to be approximately $130 million. Suqian's total contribution for phase 1 and phase 2 is required to be approximately $32 million.

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Pursuant to the terms of the Definitive Agreement, Ascent and Suqian are required to ascribe a dollar value to Ascent's non-cash contributions. The major milestone was the agreement by the Suqian government to credit approximately $77 million to Ascent's contribution of its proprietary technology, which represents 60% towards Ascent's total required contribution of $130 million. In order to value Ascent's intellectual property assets, the parties jointly agreed to hire an independent appraisal company located in China. The appraisal company has now completed that review and has submitted the valuation report to each of the JV partners. This report valued Ascent's intellectual property assets at approximately $65 million, plus 20% premium added by Suqian government to bring the total value to $77 million. The remaining 40% of Ascent's contribution will be in the form of some equipment from its Colorado plant and/or cash. The exact amounts of cash and equipment will be determined at a later date. These amounts of cash and equipment will depend, among other things, on an assessment of the contributed equipment by a Chinese appraisal firm mutually selected by Ascent and Suqian.

The actual contributions of cash and other assets into the JV by Ascent and Suqian will happen incrementally over time. In addition, under the Definitive Agreement, Suqian has agreed to provide rent-free use of the 331,000-square-foot manufacturing facility and office space that is currently being built for Ascent in the Suqian Economic and Industrial Development Science Park.

The JV will build a factory to manufacture our proprietary photovoltaic modules. We are committed to purchase this factory within the first 5 years, at the initial construction cost, and we will also purchase Suqian's ownership interest in the JV at a cost of 1.5 times Suqian's cash investment.

The implementation of the agreement, including the formation of the JV entity, will be subject to a number of contractual conditions and governmental approvals. Such conditions and approvals must be obtained in the future in order for the Suqian factory to be built and become operational.

On June 30, 2014, the Company entered into Service Agreement with Swyft, Inc. (“Swyft”). Swyft will sell consumer products through automated retail stores (kiosks), provide online and mobile retail channels through a website and mobile application, and provide visual and text based advertising through both physical and digital channels. The Company will provide financing to Swyft in the form of a three year 8% convertible note to purchase seventy five (75) automated retail stores at $4,500 per store or total of $337,500 from ZoomSystems, the manufacturer of automated retail machines. The first convertible loan financing for thirty eight (38) automated retail stores or $171,000 was provided by the Company by July 31, 2014 and the second convertible loan financing for thirty seven (37) automated retail stores or $166,500 will be provided by the Company by January 7, 2015. The Company also has an option to continue loan financing for each additional block of fifty (50) automated retail stores. The Service Agreement also requires the Company to pay one time project set-up fee of $125,000 due within seventy five days after June 30, 2014, the effective date of the agreement.

Related Party Activity

In February 2012, we announced the appointment of Victor Lee as President and Chief Executive Officer. Mr. Lee had served on our Board of Directors since November 2011 and is currently the managing director of Tertius Financial Group Pte Ltd, the joint venture partner with Radiant Group, in TFG Radiant. In April 2012, we appointed the Chairman of TFG Radiant, Mr. Winston Xu (aka Xu Biao), as a member of our Board of Directors. TFG Radiant owns approximately 18% of our outstanding common stock as of March 31, 2014.The addition of TFG Radiant as a major shareholder has significantly improved our capabilities on a number of fronts. TFG Radiant's domicile in China provides us access to high quality, low cost contract manufacturing in Asia through expansion of TFG Radiant's existing relationships, developed through many years of successful operation in China. Integrating these suppliers into our supply chain enables us to bring our products to market faster. TFG Radiant also provides a global product perspective that significantly improves the product design activities of our Thornton, Colorado designers as they collaborate with designers in Asia. We continue to integrate and improve the design-to-manufacture process where we manufacture modules in our US plant, ship them to Asia for completion into finished goods at low cost and then ship products to all markets we will serve.

In June 2012, we entered into a supply agreement and a contract manufacturing agreement with TFG Radiant. Under the terms of the contract manufacturing agreement TFG Radiant will oversee certain aspects of the contract manufacturing process related to our EnerPlex™ line of consumer products. We will compensate TFG Radiant for acting as general contractor in the contract manufacturing process. Under the supply agreement TFG Radiant intends to distribute our consumer products in Asia. In December 2012, we entered into a consulting agreement with TGF Radiant for product design, product development and manufacturing coordination activities provided by TFG Radiant to us in connection with our line of consumer electronics products. The services agreement was discontinued as of March 31, 2014.

During the six months ended June 30, 2014, we made disbursements to TFG Radiant in the amount of $537,000, consisting of $200,000 for consulting fees and $337,000 for finished goods received and deposits for work-in-process. During the period from inception through June 30, 2014 , we recognized revenue in the amount of $555,000 and for products sold to TFG Radiant

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under the supply agreement. As of June 30, 2014 and December 31, 2013, we held $134,000and$21,000, respectively, in receivables and deposits with TFG Radiant.

Significant Trends, Uncertainties and Challenges

We believe that the significant trends, uncertainties and challenges that directly or indirectly affect our financial performance and results of operations include:

• our ability to generate customer acceptance of and demand for our products;

• successful ramping up of commercial production on the equipment installed;

• successful and timely certification of our products for use in our target markets;

• successful operating of production tools to achieve the efficiencies, throughput and yield necessary to reach our cost targets;

• design resulting in products saleable at a prices sufficient to generate profits;

• our strategic alliance with TFG Radiant resulting in the design, manufacture and sale of sufficient products to achieve profitability;

• our ability to raise sufficient capital to enable us to reach a level of sales sufficient to achieve profitability on terms favorable to us;

• our ability to successfully design, manufacture, market, distribute and sell our newly introduced line of consumer oriented products;

• effective management of the planned ramp up of our domestic and international operations;

• our ability to maintain the listing of our common stock on The NASDAQ Capital Market;

• our ability to achieve projected operational performance and cost metrics;

• our ability to successfully develop and maintain strategic relationships with key partners, including OEMs, system integrators, distributors, retailers and e-commerce companies, who deal directly with end users in our target markets;

• our ability to enter into commercially viable licensing, joint venture, or other commercial arrangements; and

• availability of raw materials.

Critical Accounting Policies and Estimates

Critical accounting policies used in reporting our financial results are reviewed by management on a regular basis. The preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosure of contingent assets and liabilities. Processes used to develop these estimates are evaluated on an ongoing basis. Estimates are based on historical experience and various other assumptions that are believed to be reasonable for making judgments about the carrying value of assets and liabilities. Actual results may differ as outcomes from assumptions may change.

Our significant accounting policies were described in Note 3 to our audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2013. There have been no changes to these policies that are of potential significance to us during the six months ended June 30, 2014.

Recent Accounting Pronouncements

See Note 3, “Summary of Significant Accounting Policies,” in the Notes to Condensed Financial Statements.

In May 2014, FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). The update will establish a comprehensive revenue recognition standard for virtually all industries in GAAP. ASU 2014-09 will change the amount and timing of revenue and cost recognition, implementation, disclosures and documentation. ASU 2014-09 is effective for fiscal years beginning in 2017. The Company is researching whether the adoption of ASU 2014-09 will have a material effect on the Company’s consolidated financial statements.

Results of Operations

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Comparison of the Three and Six Months Ended June 30, 2014 and 2013

Our activities to date have substantially consisted of raising capital, business and product development, research and development and the development of our production lines.

Revenues. Our revenues were $1,090,000 for the three months ended June 30, 2014 compared to $225,000 for the three months ended June 30, 2013, an increase of $865,000. Revenues for the three months ended June 30, 2014 include $992,000 of product sales compared to $166,000 for the three months ended June 30, 2013, an increase of $826,000. Revenues earned from our government research and development contracts increased by $39,000 during the three months ended June 30, 2014 to $98,000.

Our revenues were $1,843,000 for the six months ended June 30, 2014 compared to $460,000 for the six months ended June 30, 2013, an increase of $1,383,000. Revenues for the six months ended June 30, 2014 include $1,664,000 of product sales compared to $342,000 for the six months ended June 30, 2013, an increase of $1,322,000. Revenues earned on our government research and development contracts increased by $61,000 during the six months ended June 30, 2014 to $179,000.

Research, development and manufacturing operations. Research, development and manufacturing operations costs were $5,787,000 for the three months ended June 30, 2014 compared to $5,590,000 for the three months ended June 30, 2013, an increase of $197,000. Research, development and manufacturing operations costs include costs incurred for product development, pre-production and production activities in our manufacturing facility. Research, development and manufacturing operations costs also include costs related to technology development and governmental contracts. Costs related to product development, pre-production and production activities increased by $171,000. The production cost increase was comprised of production materials costs of $435,000, supplies and equipment related costs of $66,000, personnel related costs of $43,000 and stock compensation expense of $17,000, partially offset by decreases in consulting and contract service costs of $298,000 , facility related costs of $56,000, and depreciation and amortization of $41,000. Technology development and government contract costs increased by $26,000 in the three months ended June 30, 2014. This increase was primarily the result of an increase in material and supply costs on billable contracts of $22,000.

Research, development and manufacturing operations costs were $11,007,000 for the six months ended June 30, 2014 compared to $10,910,000 for the six months ended June 30, 2013, an increase of $97,000. Research, development and manufacturing operations costs include costs incurred for product development, pre-production and production activities in our manufacturing facility. Research, development and manufacturing operations costs also include costs related to technology development and governmental contracts. Costs related to product development, pre-production and production activities increased by $98,000. The production cost increase was comprised of production materials costs of $551,000, personnel related costs of $91,000, stock compensation expense of $48,000 and facility related costs of $19,000, partially offset by decreases in consulting and contract service costs of $418,000 , depreciation and amortization of $108,000 and supplies and equipment related costs of $89,000. Technology development and government contract costs decreased by $1,000 in the six months ended June 30, 2014.

Selling,general and administrative. Selling, general and administrative expenses were $3,196,000 for the three months ended June 30, 2014 compared to $1,611,000 for the three months ended June 30, 2013, an increase of $1,585,000. This increase is comprised of marketing related costs of $560,000, consulting and contract service costs related to the operation of our kiosks of $760,000, personnel related costs of $315,000 and public company costs of $46,000, partially offset by a decrease in legal costs of $116,000.

Selling, general and administrative expenses were $6,307,000 for the six months ended June 30, 2014 compared to $2,853,000 for the six months ended June 30, 2013, an increase of $3,454,000. This increase is comprised of marketing related costs of $1,419,000, consulting and contract service costs related to the operation of our kiosks of $1,347,000, personnel related costs of $465,000, public company costs of $158,000 and subscription and membership costs of $64,000.

Other Income / (Expense), net. Other Income / (Expense) was $1,073,991 net expense for the three months ended June 30, 2014 compared to $107,000 net expense for the three months ended June 30, 2013, an increase of $967,000. This increase was the result a loss on extinguishment of liabilities related to make-whole payments on Series A , Series B, and Series C preferred stock conversions in the amount of $631,000 and $300,000 penalty shares issued for the Series C preferred stock, as well as $35,000 of interest expense.

Other Income / (Expense) was $1,530,440 net expense for the six months ended June 30, 2014 compared to $213,000 net expense for the six months ended June 30, 2013, an increase of $1,316,000. This increase was the result a loss on extinguishment of liabilities related to make-whole payments on Series A , Series B, and Series C preferred stock conversions in the amount of $983,013, $300,000 penalty shares issued for the Series C preferred stock, as well as $34,000 of interest expense.

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Change in fair value of make-whole dividend liability. Change in fair value of make-whole dividend liability was $1,453,000 for the three months ended June 30, 2013. This expense is the result of an increase in the fair value of make-whole dividends payable to the holders of Series A and Series C preferred stock.

Change in fair value of make-whole dividend liability was $2,188,000 for the six months ended June 30, 2013. This expense is the result of an increase in the fair value of make-whole dividends payable to the holders of Series A and Series C preferred stock.

Net Loss. Our Net Loss was $10,420,000 for the three months ended June 30, 2014 compared to a Net Loss of $7,083,000 for the three months ended June 30, 2013, an increase of $3,337,000.

Our Net Loss was $19,190,000 for the six months ended June 30, 2014 compared to a Net Loss of $13,517,000 for the six months ended June 30, 2013, an increase of $5,672,000.

The increase in Net Loss can be summarized in variances in significant account activity as follows:

	Decrease (increase) to Net Loss For the Three Months  Ended June 30, 2014 Compared to the Three Months Ended June 30, 2013			Decrease (increase) to Net Loss For the Six Months  Ended June 30, 2014 Compared to the Six Months Ended June 30, 2013
Revenues
Products	$	826,000		$	1,322,000
Government Contracts	39,000			61,000
Research, development and manufacturing operations
Product development, pre-production and production	(154,000		)	(50,000		)
Technology and government contracts	(18,000		)	15,000
Non-cash stock based compensation	(25,000		)	(62,000		)
Selling, general and administrative expenses
Corporate selling, general and administrative	(1,601,000		)	(3,459,000		)
Non-cash stock based compensation	16,000			5,000
Other Income / (Expense)
Other Income / (Expense), net	(967,000		)	(1,316,000		)
Change in fair value of make-whole dividend liability	(1,453,000		)	(2,188,000		)
Increase to Net Loss	$	(3,337,000	)	$	(5,672,000	)

Liquidity and Capital Resources

As of June 30, 2014, we had approximately $1.3 million in cash and cash equivalents. We are in the development stage and are currently incurring significant losses from operations as we work toward further commercialization. In February 2014, we completed the sale of 500 shares of Series B-1 preferred stock in a private placement for gross proceeds of $5.0 million. In May 2014, we completed the sale of 600 shares of Series C preferred stock in a private placement for gross proceeds of $6.0 million. On July 29, 2014, Ascent Solar Technology, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with SHTARD Enterprises Ltd. (the “Investor”). Pursuant to the terms of the Purchase Agreement, the Company issued and sold to the Investor 4,000,000 shares of the Company’s common stock in the aggregate original amount of $1,320,000 or $0.33 per share. On August 11, 2014, the Investor purchased an additional 8,000,000 shares from the Company at $0.33 per share or $2,640,000 total.

We have commenced production at our manufacturing facility. We do not expect that sales revenue and cash flows will be sufficient to support operations and cash requirements until we have fully implemented our new consumer products strategy. We currently expect our increased sales and marketing costs to exceed our increase in revenue while we expand our retail channels and increase our product line. During the first half of 2014, we used $12.7 million in cash for operations. For the remainder of 2014, we expect to incur a base level of maintenance capital expenditures and relatively minor improvements to the existing asset base along with an increased sales effort. Our primary significant long term obligations consists of $6.2 million to a financial institution secured by a mortgage on our headquarters and manufacturing building in Thornton, Colorado. Total payments of $0.3 million, including principal and interest, on $6.2 million note payable will come due in the remainder of 2014.

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On June 30, 2014, we entered into a Service Agreement with Swyft, Inc. (“Swyft”). Swyft will sell consumer products through automated retail stores (kiosks), provide online and mobile retail channels through a website and mobile application, and provide visual and text based advertising through both physical and digital channels. We will provide financing to Swyft in the form of a three year 8% convertible note to purchase seventy five (75) automated retail stores at $4,500 per store, or a total of $337,500, from ZoomSystems, the manufacturer of automated retail machines. The first convertible loan financing for thirty eight (38) automated retail stores of $171,000 was provided by us by July 31, 2014 and the second convertible loan financing for thirty seven (37) automated retail stores of $166,500 will be provided by us by January 7, 2015. We also have an option to continue loan financing for each additional block of fifty (50) automated retail stores. The Service Agreement also requires us to pay one time project set-up fees of $125,000 due within seventy five days after June 30, 2014, the effective date of the agreement.

At June 30, 2014, we owe $1.6 million related to a litigation settlement reached in April 2014, which is being paid in equal installments over 40 months beginning in April 2014. Additional projected product revenues are not anticipated to result in a positive cash flow position for the year 2014 overall. However, the Company will have sufficient cash liquidity for the year ending December 31, 2014, given the aforementioned new financing and additional financing that is expected to be secured in the second half of the year. We have begun activities related to securing additional financing through strategic or financial investors, but there is no assurance we will be able to raise additional capital on acceptable terms or at all. 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. If revenues do not increase rapidly, and/or additional financing is not obtained, we will be required to significantly curtail operations to reduce costs and/or sell assets. Such actions would likely have an adverse impact on our future operations.

We are currently not in compliance with the NASDAQ minimum $1.00 bid price requirement. On March 27, 2014, we received approval to transfer our listing from the NASDAQ Global Market tier to the NASDAQ Capital Market tier, effective with opening of the market on March 28, 2014. Our common stock will continue to trade under the symbol “ASTI”.  The NASDAQ Capital Market is a continuous trading market that operates in substantially the same manner as the NASDAQ Global Market.Transfer of our listing to the NASDAQ Capital Market resulted in an additional 180-day period within which to regain compliance with the $1.00 minimum bid price requirement, through September 15, 2014 (the "Compliance Date"). We intend to continue to monitor the bid price of our common stock. If the our common stock does not trade at a level that is likely to regain compliance with the NASDAQ requirements, our Board of Directors may consider other options that may be available to achieve compliance. One option to regain compliance is a reverse stock split, however a reverse stock split could have negative implications. If at any time before the Compliance Date, the closing bid price of our common stock is at least $1.00 per share for at least ten consecutive business days, we will regain compliance with the price requirement. There is no assurance that we can demonstrate compliance by the Compliance Date or comply with the terms of the extension granted by NASDAQ, and tour common stock may then be subject to delisting.

Statements of Cash Flows Comparison of the Six Months Ended June 30, 2014 and 2013

For the six months ended June 30, 2014, our cash used in operations was $12.7 million compared to $10.0 million for the six months ended June 30, 2013, an increase of $2.7 million, which is primarily the result of an increase in net loss. For the six months ended June 30, 2014, our cash used in investing activities was $0.3 million compared to $0.9 million for the six months ended June 30, 2013, a decrease of $0.6 million, resulting from a decrease in purchases of property, plant and equipment. During six months ended June 30, 2014, negative operating cash flows of $12.7 million was funded through $11.2 million of net funding received from issuances of preferred stock and the use of cash and cash equivalents held at December 31, 2013.

Contractual Obligations

The following table presents our contractual obligations as of June 30, 2014. Our long-term debt obligation is related to our building loan and our litigation settlement reflecting both principal and interest. Our purchase obligations include orders for equipment, inventory and operating expenses.

			Payments Due by Year (in thousands)
Contractual Obligations	Total		Less Than 1 Year		1-3 Years		3-5 Years		More Than 5 Years
Long-term debt obligations	$	11,271	$	1,293	$	3,331	$	2,081	$	4,566
Operating lease obligations	184		184		—		—		—
Purchase obligations	1,945		1,945		—		—		—
Total	$	13,400	$	3,422	$	3,331	$	2,081	$	4,566

Off Balance Sheet Transactions

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As of June 30, 2014, we did not have any off balance sheet arrangements as defined in Item 303(a)(4)(ii) of SEC Regulation S-K.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Foreign Currency Exchange Risk

Although our reporting currency is the U.S. Dollar, we may conduct business and incur costs in the local currencies of other countries in which we may operate, make sales and buy materials. As a result, we are subject to currency translation risk. Further, changes in exchange rates between foreign currencies and the U.S. Dollar could affect our future net sales and cost of sales and could result in exchange losses.

Interest Rate Risk

Our exposure to market risks for changes in interest rates relates primarily to our cash equivalents. As of June 30, 2014, our cash equivalents consisted only of federally insured operating and savings accounts held with financial institutions. From time to time we hold money market funds, investments in U.S. government securities and high quality corporate securities. The primary objective of our investment activities is to preserve principal and provide liquidity on demand, while at the same time maximizing the income we receive from our investments without significantly increasing risk. The direct risk to us associated with fluctuating interest rates is limited to our investment portfolio and we do not believe that a change in interest rates will have a significant impact on our financial position, results of operations or cash flows.

Credit Risk

From time to time we hold certain financial and derivative instruments that potentially subject us to credit risk. These consist primarily of cash, cash equivalents, restricted cash, investments and foreign currency option contracts. We are exposed to credit losses in the event of nonperformance by the counter parties to our financial and derivative instruments. We place cash, cash equivalents, investments and forward foreign currency option contracts with various high-quality financial institutions, and exposure is limited at any one institution. We continuously evaluate the credit standing of our counter party financial institutions.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) is recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission (SEC) rules and forms. Our management, including our Chief Executive Officer and Chief Financial Officer, conducted an evaluation required by Rules 13a-15 and 15d-15 under the Exchange Act of the effectiveness of our disclosure controls and procedures as defined in Rules 13a-15 and 15d-15 under the Exchange Act as of June 30, 2014. Based on this evaluation, our Chief Executive Officer and Chief Financial Officer concluded that as of June 30, 2014, our disclosure controls and procedures were effective.

Changes in Internal Control over Disclosure and Reporting

There was no change in our internal control over financial reporting that occurred during the quarterly period ended June 30, 2014 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

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PART II. OTHER INFORMATION

Item 1. Legal Proceedings

On October 21, 2011, we were notified that a complaint (the “Lawsuit”) was filed by Jefferies against us in state court located in the County and State of New York.

In December 2010, we and Jefferies entered into an engagement agreement (the “Fee Agreement”) pursuant to which Jefferies was hired to act as our financial advisor in relation to certain potential transactions. In the Lawsuit, Jefferies claimed that it was entitled to receive an investment banking fee of $3 million (plus expense reimbursement of approximately $49,000) under the Fee Agreement in connection with the August 2011 investment and strategic alliance transaction (the “Financing”) between us and TFG Radiant. In addition, Jefferies claimed an award for attorney's fees and prejudgment interest in the approximate amount of $1.2 million.

On April 16, 2014, the parties settled the Lawsuit. Under the settlement agreement, we have agreed to pay Jefferies $50,000 per month in cash.  We will have no further obligations to Jefferies if we make 40 timely monthly payments  (aggregating to $2.0 million).  Otherwise, we will owe an aggregate of $3.0 million to Jefferies. 

Our obligations under the settlement agreement will be secured by a second mortgage lien on our headquarters and manufacturing building in Thornton, Colorado.  Such second mortgage lien has been approved by the Colorado Housing and Finance Authority (“CHFA”), which holds the first mortgage lien on this building. 

We record a liability in our financial statements for costs related to claims, including settlements and judgments, where we have assessed that a loss is probable and an amount can be reasonably estimated. We accrued $1.7 million, the net present value of the $2.0 million settlement, as of December 31, 2013. As of June 30, 2014, $1.1 million was accrued for the short-term portion of this settlement, included in Accrued expenses, and $0.5 million was recorded as Accrued litigation settlement, net of current portion, in the Condensed Balance Sheets.

Item 1A. Risk Factors

In addition to the other information set forth in this report, you should carefully consider the factors discussed in the updated risk factors in our Annual Report on Form 10-K filed on March 28, 2014, which could materially affect our business, financial condition or future results. The risks described in our Annual Report on Form 10-K filed on March 28, 2014 are not the only risks facing our company. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition or future results.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Not required.

Item 3. Defaults Upon Senior Securities

Not applicable.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

Not applicable.

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Item 6. Exhibits

A list of exhibits is found on page 24 of this report.

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ASCENT SOLAR TECHNOLOGIES, INC.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on the 13th day of August, 2014.

ASCENT SOLAR TECHNOLOGIES, INC.
By:	/S/ WILLIAM M. GREGORAK
	William M. Gregorak Vice President and Chief Financial Officer (Principal Financial Officer and Authorized Signatory)

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ASCENT SOLAR TECHNOLOGIES, INC.

EXHIBIT INDEX

Exhibit No.	Description
3.1	Certificate of Amendment dated February 7, 2014 to the Amended and Restated Certificate of Incorporation (filed as Exhibit 3.1 to our Current Report on Form 8-K filed February 11, 2014).
4.1	Certificate of Designations of Preferences, Rights and Limitations of Series C Preferred Stock (attached as Exhibit 2 to the Stock Purchase Agreement filed as Exhibit 10.1 to our Current Report on Form 8-K filed on April 2, 2014).
10.1	Securities Purchase Agreement, dated April 1, 2014, between the Company and Ironridge Global IV, Ltd. (filed as Exhibit 10.1 to our Current Report on Form 8-K April 2, 2014).
10.2	Registration Rights Agreement dated April 1, 2014 between the Company and Ironridge Global IV, Ltd. (filed as exhibit 10.2 to our Current Report on Form 8-K filed April 2, 2014).
10.3	Voting Agreement dated April 1, 2014 between TFG Radiant Investment Group Ltd. and Ironridge Global IV, Ltd. (filed as exhibit 10.3 to our Current Report on Form 8-K filed April 2, 2014).
10.4***	Executive Employment Agreement, dated April 4, 2014, between the Company and Victor Lee (filed as Exhibit 10.1 to our Current Report on Form 8-K filed on April 9, 2014).
10.5	Settlement Agreement and Release dated April 15, 2014 between the Company and Jefferies LLC (filed as Exhibit 10.1 to our Current Report on Form 8-K filed on April 22, 2014).
31.1*	Chief Executive Officer Certification pursuant to section 302 of the Sarbanes-Oxley Act of 2002
31.2*	Chief Financial Officer Certification pursuant to section 302 of the Sarbanes-Oxley Act of 2002
32.1*	Chief Executive Officer Certification pursuant to section 906 of the Sarbanes-Oxley Act of 2002
32.2*	Chief Financial Officer Certification pursuant to section 906 of the Sarbanes-Oxley Act of 2002
101.INS**	XBRL Instance Document
101.SCH**	XBRL Taxonomy Extension Schema Document
101.CAL**	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF**	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB**	XBRL Taxonomy Extension Label Linkbase Document
101.PRE**	XBRL Taxonomy Extension Presentation Linkbase Document

*	Filed herewith.
**	XBRL information is furnished and not filed or a part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Exchange Act of 1933, as amended, is deemed not filed for purposes of section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.
***	Denotes management or compensatory plan or arrangement.

27

EX-31.1

Exhibit 31.1

ASCENT SOLAR TECHNOLOGIES, INC.

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Victor Lee, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Ascent Solar Technologies, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

August 13, 2014
	/s/ VICTOR LEE
	Victor Lee President and Chief Executive Officer

EX-31.2

Exhibit 31.2

ASCENT SOLAR TECHNOLOGIES, INC.

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Bill Gregorak, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Ascent Solar Technologies, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

August 13, 2014
	/s/ BILL GREGORAK
	Bill Gregorak Vice President and Chief Financial Officer

EX-32.1

Exhibit 32.1

ASCENT SOLAR TECHNOLOGIES, INC.

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT

TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Ascent Solar Technologies, Inc. (the “Company”) on Form 10-Q for the period ended June 30, 2014 as filed with the Securities and Exchange Commission on the date therein specified (the “Report”), I, Victor Lee, President and Chief Executive Officer of the Company, certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1 The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2 The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

August 13, 2014
	/s/ VICTOR LEE
	Victor Lee President and Chief Executive Officer

EX-32.2

Exhibit 32.2

ASCENT SOLAR TECHNOLOGIES, INC.

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 AS ADOPTED PURSUANT

TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Ascent Solar Technologies, Inc. (the “Company”) on Form 10-Q for the period ended June 30, 2014 as filed with the Securities and Exchange Commission on the date therein specified (the “Report”), I, Bill Gergorak, Chief Financial Officer of the Company, certify pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1 The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2 The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

August 13, 2014
	/s/ BILL GREGORAK
	Bill Gregorak Vice President and Chief Financial Officer

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Commitments and Contingencies (Details) (USD $)	0 Months Ended	1 Months Ended				0 Months Ended	3 Months Ended	0 Months Ended					1 Months Ended
	Oct. 21, 2011	Apr. 30, 2014	Dec. 31, 2010	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014 Service Agreement with Swyft, Inc. [Member]	Jun. 30, 2014 Service Agreement with Swyft, Inc. [Member] store	Jun. 30, 2014 8% Convertible Debt [Member] Convertible Debt [Member] Service Agreement with Swyft, Inc. [Member]	Jun. 30, 2014 8% Convertible Debt [Member] Convertible Debt [Member] Service Agreement with Swyft, Inc. [Member]	Jun. 30, 2014 8% Convertible Debt [Member] First Convertible Debt Loan [Member] Service Agreement with Swyft, Inc. [Member] store	Jun. 30, 2014 8% Convertible Debt [Member] Second Convertible Debt Loan [Member] Service Agreement with Swyft, Inc. [Member] store	Jun. 30, 2014 8% Convertible Debt [Member] Continued Convertible Debt Loan Financing [Member] Service Agreement with Swyft, Inc. [Member] store	Apr. 30, 2014 Jefferies [Member]
Other Commitments [Line Items]
Complaint claim amount	$ 3,000,000
Attorney's fees and prejudgment interest			1,200,000
Litigation settlement (against) the company		(1,600,000)											(2,000,000)
Litigation settlement, payment period		40 months
Payments for legal settlements							150,000
Estimated litigation liability					1,700,000
Estimated litigation liability, noncurrent				1,133,299	1,317,500
Estimated litigation liability, current				471,559	0
Debt instrument, term								3 years
Stated interest rate									8.00%
Number of stores							75			38	37	50
Store price							4,500
Convertible debt									337,500	171,000	166,500
Deferred set-up costs							$ 125,000
Deferred set-up cost, duration						75 days

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Stockholders' Equity (Preferred Stock) (Details) (USD $)	6 Months Ended	1 Months Ended	3 Months Ended					1 Months Ended						1 Months Ended		6 Months Ended					1 Months Ended
	Jun. 30, 2014	Jun. 30, 2013 Series A Preferred Stock [Member]	Jun. 30, 2014 Series A Preferred Stock [Member]	Dec. 31, 2013 Series A Preferred Stock [Member]	Aug. 31, 2013 Series A Preferred Stock [Member]	Aug. 16, 2013 Series A Preferred Stock [Member]	Jun. 17, 2013 Series A Preferred Stock [Member]	Oct. 31, 2013 Series B Preferred Stock [Member] tranche	Jun. 30, 2014 Series B-1 and B-2 Preferred Stock [Member]	Jun. 30, 2014 Series B-1 Preferred Stock [Member]	Dec. 31, 2013 Series B-1 Preferred Stock [Member]	Oct. 31, 2013 Series B-1 Preferred Stock [Member]	Jun. 30, 2014 Series B-2 Preferred Stock [Member]	May 31, 2014 Series C Preferred Stock [Member]	Oct. 31, 2013 Series C Preferred Stock [Member]	Jun. 30, 2014 Series C Preferred Stock [Member]	Dec. 31, 2013 Series C Preferred Stock [Member]	Oct. 31, 2013 Sale of Stock Tranche One [Member] Series B-1 Preferred Stock [Member]	Feb. 07, 2014 Sale of Stock Tranche Two [Member] Series B-1 Preferred Stock [Member]	Feb. 28, 2014 Sale of Stock Tranche Two [Member] Series C Preferred Stock [Member]	Aug. 12, 2014 Subsequent Event [Member] Series C Preferred Stock [Member]	Aug. 11, 2014 Subsequent Event [Member] Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	25,000,000		750,000	750,000					2,000	1,000	1,000					1,000	1,000
Preferred stock, shares authorized, designated																690
Preferred stock, par value (in dollars per share)	$ 0.0001		$ 0.0001	$ 0.0001						$ 0.0001	$ 0.0001					$ 0.0001	$ 0.0001
Preferred stock, shares outstanding (in shares)			212,390	362,390						0	350		0			530	0					255
Preferred stock, shares issued		750,000	750,000	750,000	625,000		125,000	1,000		1,000	1,000			600		630	630	500	500	630
Share price (in dollars per share)		$ 8.00						$ 10,000
Preferred stock, issued		$ 6,000,000	$ 21	$ 36	$ 5,000,000		$ 1,000,000	$ 10,000,000		$ 0	$ 0			$ 6,000,000		$ 0	$ 0	$ 5,000,000	$ 5,000,000
Number of shares called by warrants		2,625,000			2,187,500		437,500
Preferred stock, dividend rate, percentage		8.00%						5.75%							5.75%
Preferred stock, dividend rate, share price percentage to market price		10.00%						8.00%						8.00%
Preferred stock, dividends percentage of closing stock price														92.00%
Preferred stock, dividend issuance term		4 years 0 months 0 days						5 years						5 years
Preferred stock, conversion, required common share price (in dollars per share)		$ 1.60						$ 2.00						$ 2.30
Preferred stock, conversion, required common share price, term		20 days						20 days						20 days
Preferred stock, redemption price per share (in dollars per share)		$ 8.00						$ 10,000						$ 10,000
Warrants term		3 years 0 months 0 days
Warrants, exercise price (in dollars per unit)		0.90
Percent of damages of the total investment amount						1.00%
Amount of damages of the total investment						60,000
Number of issuance tranches								2
Shares converted	850		150,000													100					275
Conversion price (in dollars per share)												$ 1.15		$ 1.15
Shares issued upon conversion		10										8,696		8,696
Shares issued for conversion of preferred stock	7,391,304		1,500,000													869,565					7,472,827
Shares issued in lieu of cash for conversion of preferred stock	12,386,806		1,040,749													2,835,539
Value of shares issued in lieu of cash for conversion of preferred stock	$ 6,483,000		$ 520,000													$ 900,000
Liquidation preference per share (in dollars per share)														$ 10,000
Securities purchase agreement, required shares to be issued, 30th day after April 1, 2014														30
Securities purchase agreement, required shares to be issued, 60th day after April 1, 2014														30
Securities purchase agreement, required shares to be issued, 90th day after April 1, 2014														30
Issuance of common stock (in shares)														30

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Organization (Details)	1 Months Ended
	Jan. 31, 2006
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Common stock issued (in shares)	1,028,000

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Equity Plans and Share-Based Compensation (Narrative) (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 202,510	$ 193,027	$ 425,323	$ 367,918
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	83,247	96,595	215,539	201,545
Weighted average grant date fair value (in dollars per share)			$ 0.50	$ 0.48
Total compensation cost not yet recognized	349,000		349,000
Recognized over a weighted average period			1 year 8 months 0 days
Vested and expected to vest shares (in shares)	1,783,172		1,783,172
Vested and expected to vest weighted average exercise price (in dollars per share)	$ 1.59		$ 1.59
Number of shares available for grant (in shares)	614,967		614,967
Restricted Stock Units and Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	119,263	96,432	209,784	166,373
Total compensation cost not yet recognized	$ 207,000		$ 207,000
Recognized over a weighted average period			0 years 8 months 19 days
Number of shares available for grant (in shares)	2,136,485		2,136,485
Restricted stock, weighted average estimated fair value (in dollars per share)			$ 0.71	$ 0.62
Restricted stock expected to vest (in shares)	583,406		583,406

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Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2014

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Company’s significant accounting policies were described in Note 3 to the audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

In May 2014, FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). The update will establish a comprehensive revenue recognition standard for virtually all industries in GAAP. ASU 2014-09 will change the amount and timing of revenue and cost recognition, implementation, disclosures and documentation. ASU 2014-09 is effective for fiscal years beginning in 2017. The Company is researching whether the adoption of ASU 2014-09 will have a material effect on the Company’s consolidated financial statements.

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Debt Narrative (Details) (USD $)	Jun. 30, 2014	Feb. 08, 2008 Construction Loan [Member]	Dec. 31, 2009 Permanent Loan [Member]	Feb. 08, 2008 Manufacturing and Office Facility [Member]
Debt Instrument [Line Items]
Cost of acquisition				$ 5,500,000
Available borrowing capacity		7,500,000
Stated interest rate			6.60%
Long-term debt	$ 6,210,983

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Inventories (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]
Raw materials	$ 1,246,936	$ 1,190,079
Work in process	550,164	401,274
Finished goods	537,016	296,259
Total	$ 2,334,116	$ 1,887,612

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Debt (Schedule of Maturities of Long-term Debt) (Details) (USD $)	Jun. 30, 2014
Debt Disclosure [Abstract]
2014	$ 143,808
2015	302,210
2016	322,771
2017	344,730
2018	368,183
Thereafter	4,729,281
Total maturities	$ 6,210,983

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Make-Whole Dividend Liability (Details) (USD $)	3 Months Ended		6 Months Ended		104 Months Ended		1 Months Ended					1 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013 Series A Preferred Stock [Member]	Jun. 30, 2014 Series A Preferred Stock [Member]	Dec. 31, 2013 Series A Preferred Stock [Member]	Aug. 31, 2013 Series A Preferred Stock [Member]	Jun. 17, 2013 Series A Preferred Stock [Member]	Oct. 31, 2013 Series B Preferred Stock [Member]	May 31, 2014 Series C Preferred Stock [Member]	Oct. 31, 2013 Series C Preferred Stock [Member]	Jun. 30, 2014 Series C Preferred Stock [Member]	Dec. 31, 2013 Series C Preferred Stock [Member]	Feb. 28, 2014 Sale of Stock Tranche Two [Member] Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, dividend rate, percentage							8.00%					5.75%		5.75%
Preferred stock, redemption, term, required make-whole dividend							4 years					5 years
Preferred stock, dividend, make-whole dividend rate to market value							10.00%					8.00%
Preferred stock, shares issued							750,000	750,000	750,000	625,000	125,000	1,000	600		630	630	630
Preferred stock, issued							$ 6,000,000	$ 21	$ 36	$ 5,000,000	$ 1,000,000	$ 10,000,000	$ 6,000,000		$ 0	$ 0
Preferred stock, dividend rate, share price percentage to market price							10.00%					8.00%	8.00%
Preferred stock, dividends percentage of closing stock price													92.00%
Preferred stock, dividend issuance term							4 years 0 months 0 days					5 years	5 years
Change in fair value of make-whole dividend liability	1,452,661	0	2,188,115	0	3,503,498
Preferred stock, shares outstanding								212,390	362,390						530	0
Preferred stock, redemption amount								1,700,000							5,300,000
Preferred stock, redemption amount, additional make-whole amount	4,700,000		4,700,000		4,700,000			800,000
Make-whole dividend liability	$ 5,518,860		$ 5,518,860		$ 5,518,860	$ 3,146,156

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Basis of Presentation

6 Months Ended

Jun. 30, 2014

Basis Of Presentation [Abstract]

Basis of Presentation

BASIS OF PRESENTATION

The Company’s activities to date have consisted substantially of raising capital, research and development, establishment and development of the Company's production plant, product development and establishing a sales channel for its line of consumer products which is sold under the EnerPlex™ brand. A development stage entity is defined as an entity devoting substantially all of its efforts to establishing a new business and for which either a) planned principal operations have not commenced or b) planned principal operations have commenced, but there has been no significant revenue therefrom. Revenues to date have been primarily generated from the Company’s governmental research and development contracts and have not been significant. The Company’s planned principal operations to commercialize flexible PV modules and PV integrated consumer products have commenced, but have generated limited revenue to date. The EnerPlex™ brand of consumer oriented products was introduced in 2012. Despite experiencing substantial sequential growth in the fourth quarter of 2013 and first half of 2014, total revenue to date has not been significant. Accordingly, the Company is considered to be in the development stage and has provided additional disclosure of inception to date activity in its Statements of Operations, Statements of Stockholders’ Equity and Statements of Cash Flows. Additionally, due to the development stage nature of the Company, the majority of the Company’s costs are considered to be research and development costs.

The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these interim financial statements do not include all of the information and footnotes typically found in U.S. GAAP audited annual financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair statement have been included. The Condensed Balance Sheet at December 31, 2013 has been derived from the audited financial statements as of that date but does not include all of the information and footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. These condensed financial statements and notes should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Operating results for the six months ended June 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014.

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Stockholders' Equity (Common Stock) (Details) (USD $)	Jun. 30, 2014 votes	Dec. 31, 2013
Equity [Abstract]
Common stock, shares authorized	250,000,000	125,000,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Number of votes per share	1
Common stock, shares outstanding	87,964,103	61,748,524

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Joint Venture (Details) (Municipal City of Suqian [Member], USD $)	0 Months Ended
	Dec. 28, 2013	Jun. 30, 2014 sqft	Dec. 31, 2014 Scenario, Forecast [Member]	Jun. 30, 2014 Ascent Solar Technology [Member]	Jun. 30, 2014 Suqian [Member]
Schedule of Equity Method Investments [Line Items]
Joint venture, total investment	$ 500,000,000			$ 130,000,000	$ 32,000,000
Joint venture, agreement term	6 years
Joint venture, cash contribution	4,800,000		32,500,000
Joint Venture, ownership percentage of parent	75.00%		80.00%
Joint venture, cash contribution, minority interest	1,600,000
Joint venture, ownership percentage of minority interest	25.00%
Joint venture, intellectual property contribution to joint venture		77,000,000
Joint venture, intellectual property contribution to joint venture, percentage		60.00%
Joint venture, required contribution		130,000,000
Joint venture, appraised value of intellectual property		$ 65,000,000
Joint venture, appraised value of intellectual property, premium		20.00%
Joint venture, cash and property contribution to joint venture, percentage		40.00%
Joint venture, square footage of contributed property		331,000
Joint venture, right to purchase assets, term	5 years
Joint venture, future buy-out cost ratio to initial cash investment	1.5

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Condensed Balance Sheets (USD $)	Jun. 30, 2014	Dec. 31, 2013
Current Assets:
Cash and cash equivalents	$ 1,326,256	$ 3,318,155
Trade receivables	1,178,606	458,076
Related party receivables and deposits	134,200	21,122
Inventories	2,334,116	1,887,612
Prepaid expenses and other current assets	1,153,453	1,157,484
Total current assets	6,126,631	6,842,449
Property, Plant and Equipment:	38,668,416	38,614,905
Less accumulated depreciation and amortization	(20,804,558)	(17,850,688)
Net property, plant and equipment	17,863,858	20,764,217
Other Assets:
Patents, net of amortization of $92,650 and $83,364, respectively	1,125,768	879,541
Other non-current assets	165,938	52,813
Total Other Assets	1,291,706	932,354
Total Assets	25,282,195	28,539,020
Current Liabilities:
Accounts payable	569,818	442,754
Accrued expenses	2,608,986	1,800,369
Current portion of long-term debt	292,427	282,960
Current Portion of Litigation Settlement	471,559	0
Make-whole dividend liability	5,518,860	3,146,156
Total current liabilities	9,461,650	5,672,239
Accrued Litigation Settlement, net of current portion	1,133,299	1,317,500
Long-Term Debt, net of current portion	5,918,556	6,067,175
Accrued Warranty Liability	54,000	47,937
Commitments and Contingencies
Stockholders’ Equity:
Common stock, $0.0001 par value, 250,000,000 shares authorized; 87,964,103 and 61,748,524 shares issued and outstanding, respectively	8,796	6,175
Additional paid in capital	283,825,284	263,270,005
Deficit accumulated during the development stage	(275,119,411)	(247,842,047)
Total stockholders’ equity	8,714,690	15,434,169
Total Liabilities and Stockholders’ Equity	$ 25,282,195	$ 28,539,020

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Condensed Statements of Cash Flows (USD $)	6 Months Ended		104 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
Operating Activities:
Net loss	$ (19,189,864)	$ (13,517,475)	$ (261,096,149)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,975,428	3,096,426	33,714,429
Share based compensation	425,323	367,918	13,858,520
Common stock issued for services	0	65,000	201,949
Realized loss on forward contracts	0	0	1,430,766
Foreign currency transaction loss (gain)	0	0	(590,433)
Amortization of financing costs and discounts	0	0	998,565
Impairment loss	0	0	83,993,440
Contract cancellation loss	0	0	1,167,586
Loss on extinguishment of liabilities	983,013	0	1,142,855
Accrued litigation settlement	287,358	0	1,987,358
Change in fair value of make-whole dividend liability	2,188,115	0	3,503,498
Changes in operating assets and liabilities:
Accounts receivable	(720,530)	(35,228)	(1,178,606)
Related party receivables and deposits	(113,078)	421,222	(134,200)
Inventories	(446,504)	80,863	(2,334,116)
Prepaid expenses and other current assets	4,031	(271,502)	(1,153,453)
Accounts payable	127,064	(514,086)	569,817
Accrued expenses	808,618	322,607	1,275,450
Warranty reserve	6,063	3,216	54,000
Net cash used in operating activities	(12,664,963)	(9,981,039)	(122,588,724)
Investing Activities:
Purchases of available-for-sale securities	0	0	(907,118,828)
Maturities and sales of available-for-sale securities	0	0	907,118,828
Purchase of property, plant and equipment	(53,511)	(648,056)	(135,395,255)
Patent activity costs	(265,911)	(261,052)	(1,203,858)
Net cash used in investing activities	(319,422)	(909,108)	(136,599,113)
Financing Activities:
Proceeds from bridge loan financing	0	0	1,600,000
Repayment of bridge loan financing	0	0	(1,600,000)
Payment of debt financing costs	(115,000)	0	(388,565)
Payment of equity offering costs	0	0	(10,514,523)
Proceeds from debt	0	0	7,700,000
Repayment of debt	(139,152)	(130,288)	(2,589,018)
Proceeds from shareholder under Section 16(b)	0	0	148,109
Proceeds from issuance of stock and warrants	11,246,638	2,395,017	266,206,218
Redemption of Class A warrants	0	0	(48,128)
Net cash provided by financing activities	10,992,486	2,264,729	260,514,093
Net change in cash and cash equivalents	(1,991,899)	(8,625,418)	1,326,256
Cash and cash equivalents at beginning of period	3,318,155	12,621,477	0
Cash and cash equivalents at end of period	1,326,256	3,996,059	1,326,256
Non-Cash Transactions:
ITN initial contribution of assets for equity	0	0	31,200
Note with ITN and related capital expenditures	0	0	1,100,000
Non-cash conversions of preferred stock	7,902,911	0	9,586,837
Make-whole provision on convertible preferred stock	8,087,500	332,000	11,602,199
Beneficial conversion feature on convertible preferred stock	$ 0	$ 265,259	$ 2,421,063

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Equity Plans and Share-Based Compensation (Share-based compensation cost by award type) (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation cost	$ 202,510	$ 193,027	$ 425,323	$ 367,918
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation cost	83,247	96,595	215,539	201,545
Restricted Stock Units and Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation cost	$ 119,263	$ 96,432	$ 209,784	$ 166,373

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Inventories (Tables)

6 Months Ended

Jun. 30, 2014

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventories consisted of the following at June 30, 2014 and December 31, 2013:

	As of June 30,		As of December 31,
	2014		2013
Raw materials	$	1,246,936	$	1,190,079
Work in process	550,164		401,274
Finished goods	537,016		296,259
Total	$	2,334,116	$	1,887,612

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Equity Plans and Share-Based Compensation (Share-based compensation fair value assumptions) (Details)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (in years)	5 years 10 months 15 days	5 years 1 month 25 days
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	95.00%	97.00%
Risk free interest rate	2.00%	1.00%
Expected dividends	0.00%	0.00%

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Equity Plans and Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based compensation cost by line item

The share-based compensation expense recognized in the Condensed Statements of Operations was as follows:

	For the three months ended June 30,				For the six months ended June 30,
	2014		2013		2014		2013
Share-based compensation cost included in:
Research and development	$	83,576	$	58,570	187,070		$	124,826
Selling, general and administrative	118,934		134,457		238,253		243,092
Total share-based compensation cost	$	202,510	$	193,027	$	425,323	$	367,918

Share-based compensation cost by award type

The following table presents share-based compensation expense by type:

	For the three months ended June 30,				For the six months ended June 30,
	2014		2013		2014		2013
Type of Award:
Stock Options	$	83,247	$	96,595	215,539		$	201,545
Restricted Stock Units and Awards	119,263		96,432		209,784		166,373
Total share-based compensation cost	$	202,510	$	193,027	$	425,323	$	367,918

Share-based compensation fair value assumptions

Fair value was calculated using the Black-Scholes Model with the following assumptions:

	For the six months ended June 30,
	2014	2013
Expected volatility	95%	97%
Risk free interest rate	2%	1%
Expected dividends	—	—
Expected life (in years)	5.9	5.2

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Organization

6 Months Ended

Jun. 30, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization

ORGANIZATION

Ascent Solar Technologies, Inc. (“Ascent” or “the Company”) was incorporated on October 18, 2005 from the separation by ITN Energy Systems, Inc. (“ITN”) of its Advanced Photovoltaic Division and all of that division’s key personnel and core technologies. ITN, a private company incorporated in 1994, is an incubator dedicated to the development of thin-film, photovoltaic (“PV”), battery, fuel cell and nano technologies. Through its work on research and development contracts for private and governmental entities, ITN developed proprietary processing and manufacturing know-how applicable to PV products generally, and to Copper-Indium-Gallium-diSelenide (“CIGS”) PV products in particular. ITN formed Ascent to commercialize its investment in CIGS PV technologies. In January 2006, in exchange for 1,028,000 shares of common stock of Ascent, ITN assigned to Ascent certain CIGS PV technologies and trade secrets and granted to Ascent a perpetual, exclusive, royalty-free worldwide license to use, in connection with the manufacture, development, marketing and commercialization of CIGS PV to produce solar power, certain of ITN’s existing and future proprietary and control technologies that, although non-specific to CIGS PV, Ascent believes will be useful in its production of PV modules for its target markets. Upon receipt of the necessary government approvals and pursuant to novation in early 2007, ITN assigned government-funded research and development contracts to Ascent and also transferred the key personnel working on the contracts to Ascent.

Currently, the Company is producing consumer oriented products focusing on charging mobile devices powered by or enhanced by the Company's solar modules. Products in these markets are priced based on the overall product value proposition rather than a commodity-style price per watt basis. The Company continues to develop new consumer products and has adjusted utilization of its equipment to meet near term sales forecasts.

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Condensed Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014 Series A Preferred Stock [Member]	Jun. 30, 2014 Series C Preferred Stock [Member]
Patents, Amortization	$ 92,650	$ 83,364
Preferred stock, par value (in dollars per share)	$ 0.0001		$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	25,000,000		750,000	1,000
Preferred stock, shares issued (in shares)			750,000	630
Preferred stock, shares outstanding (in shares)			212,390	530
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	250,000,000	125,000,000
Common stock, shares issued (in shares)	87,964,103	61,748,524
Common stock, shares outstanding	87,964,103	61,748,524
Liquidation preference			$ 2,548,680	$ 9,969,300

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Related Party Transactions

6 Months Ended

Jun. 30, 2014

Related Party Transactions [Abstract]

Related Party Transactions

RELATED PARTY TRANSACTIONS

TFG Radiant Investment Group Ltd. and its affiliates ("TFG Radiant") own approximately 18%of the Company's outstanding common stock as ofJune 30, 2014.In February 2012, the Company announced the appointment of Victor Lee as President and Chief Executive Officer. Mr. Lee had served on the Company's Board of Directors since November 2011 and is currently the managing director of Tertius Financial Group Pte Ltd, the joint venture partner with Radiant Group in TFG Radiant. In April 2012,the Company appointed the Chairman of TFG Radiant, Mr. Winston Xu (aka Xu Biao), as a member of its Board of Directors.

In June 2012, the Company entered into a supply agreement and a contract manufacturing agreement with TFG Radiant. Under the terms of the contract manufacturing agreement, TFG Radiant will oversee certain aspects of the contract manufacturing process related to the Company's EnerPlex™ line of consumer products. The Company will compensate TFG Radiant for acting as general contractor in the contract manufacturing process. Under the supply agreement, TFG Radiant intends to distribute the Company's consumer products in Asia. In December 2012, the Company entered into a consulting services agreement with TFG Radiant for product design, product development and manufacturing coordinating activities provided by TFG Radiant to the Company in connection with the Company's new line of consumer electronic products. The consulting services agreement was terminated effective March 31, 2014.

During six months ended June 30, 2014, the Company made disbursements to TFG Radiant in the amount of $537,000, consisting of $200,000 for consulting fees and $337,000 for finished goods received and deposits for work-in-process. During the period from inception through June 30, 2014, the Company recognized revenue in the amount of $555,000 for products sold to TFG Radiant under the supply agreement. As of June 30, 2014 and December 31, 2013, the Company held $134,000and$21,000, respectively, in receivables and deposits with TFG Radiant.

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Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 31, 2014
Document And Entity Information [Abstract]
Entity Registrant Name	Ascent Solar Technologies, Inc.
Entity Central Index Key	0001350102
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Document Type	10-Q
Document Period End Date	Jun. 30, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		97,828,234

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

On October 21, 2011, the Company was notified that a complaint claiming $3 million for an investment banking fee (the “Lawsuit”) was filed by Jefferies & Company, Inc. (“Jefferies”) against the Company in New York State Supreme Court in the County of New York. In December 2010, Ascent and Jefferies entered into an engagement agreement (the “Fee Agreement”) pursuant to which Jefferies was hired to act as the Company's financial advisor in relation to certain potential transactions. In addition, Jefferies claimed an award for attorney's fees and prejudgment interest in the approximate amount of $1.2 million.

On April 16, 2014, the parties settled the lawsuit where the Company agreed to pay Jefferies a total of $2.0 million in equal installments over 40 months. The Company has paid $150,000 through June 30, 2014.

The Company records a liability in its financial statements for costs related to claims, including settlements and judgments, where the Company has assessed that a loss is probable and an amount can be reasonably estimated. The Company accrued $1.7 million, the net present value of the $2.0 million settlement, as of December 31, 2013. As of June 30, 2014, $1.1 million was accrued for the long-term portion of this settlement and $0.5 million was recorded as Accrued litigation settlement, current portion, in the Condensed Balance Sheets.

On June 30, 2014, the Company entered into a Service Agreement with Swyft, Inc. (“Swyft”). Swyft will sell consumer products through automated retail stores (kiosks), provide online and mobile retail channels through a website and mobile application, and provide visual and text based advertising through both physical and digital channels. The Company will provide financing to Swyft in the form of a three year 8% convertible note to purchase seventy five (75) automated retail stores at $4,500 per store or a total of $337,500 from ZoomSystems, the manufacturer of automated retail machines. The first convertible loan financing for thirty eight (38) automated retail stores of $171,000 was provided by the Company by July 31, 2014 and the second convertible loan financing for thirty seven (37) automated retail stores of $166,500 will be provided by the Company by January 7, 2015. The Company also has an option to continue loan financing for each additional block of fifty (50) automated retail stores. The Service Agreement also requires the Company to pay one time project set-up fees of $125,000 due within seventy-five days after June 30, 2014, the effective date of the agreement.

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Condensed Statements of Operations (USD $)	3 Months Ended		6 Months Ended		104 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014
Revenues
Products	$ 992,064	$ 166,271	$ 1,664,147	$ 341,956	$ 4,709,934	[1]
Government contracts	98,316	58,780	179,297	118,032	10,045,299
Total Revenues	1,090,380	225,051	1,843,444	459,988	14,755,233
Costs and Expenses
Research, development and manufacturing operations	5,787,290	5,590,336	11,007,367	10,910,565	132,764,123
Selling, general and administrative	3,196,079	1,610,822	6,307,386	2,853,413	54,528,687
Impairment loss	0	0	0	0	83,993,440
Total Costs and Expenses	8,983,369	7,201,158	17,314,753	13,763,978	271,286,250
Loss from Operations	(7,892,989)	(6,976,107)	(15,471,309)	(13,303,990)	(256,531,017)
Other Income/(Expense), net	(1,073,991)	(107,017)	(1,530,440)	(213,485)	(1,061,634)
Change in fair value of make-whole dividend liability	(1,452,661)	0	(2,188,115)	0	(3,503,498)
Total Other Income/(Expense)	(2,526,652)	(107,017)	(3,718,555)	(213,485)	(4,565,132)
Net Loss	(10,419,641)	(7,083,124)	(19,189,864)	(13,517,475)	(261,096,149)
Deemed dividend on Preferred Stock and accretion of warrants	(5,167,500)	(597,259)	(8,087,500)	(597,259)	(14,023,262)
Net Loss applicable to common stockholders	$ (15,587,141)	$ (7,680,383)	$ (27,277,364)	$ (14,114,734)	$ (275,119,411)
Net Loss Per Share (Basic and diluted) (in dollars per share)	$ (0.19)	$ (0.15)	$ (0.37)	$ (0.27)
Weighted Average Common Shares Outstanding (Basic and diluted) (in shares)	81,032,288	52,931,642	73,721,905	52,137,145

[1] Includes related party revenue of $555,230 for the period from inception through June 30, 2014.

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Inventories

6 Months Ended

Jun. 30, 2014

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories consisted of the following at June 30, 2014 and December 31, 2013:

	As of June 30,		As of December 31,
	2014		2013
Raw materials	$	1,246,936	$	1,190,079
Work in process	550,164		401,274
Finished goods	537,016		296,259
Total	$	2,334,116	$	1,887,612

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Property, Plant and Equipment

6 Months Ended

Jun. 30, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

PROPERTY, PLANT AND EQUIPMENT

The following table summarizes property, plant and equipment as of June 30, 2014 and December 31, 2013:

	As of June 30,			As of December 31,
	2014			2013
Building	$	5,820,509		$	5,820,509
Furniture, fixtures, computer hardware and computer software	473,842			461,491
Manufacturing machinery and equipment	32,374,065			32,332,905
Net depreciable property, plant and equipment	38,668,416			38,614,905
Less: Accumulated depreciation and amortization	(20,804,558		)	(17,850,688		)
Net property, plant and equipment	$	17,863,858		$	20,764,217

The Company analyzes its long-lived assets for impairment, both individually and as a group, whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable.

Depreciation expense for the three months ended June 30, 2014 and 2013 was $1,493,944 and $1,544,282, respectively and for the six months ended June 30, 2014 and 2013 was $2,961,690 and $3,077,911, respectively. Depreciation expense is recorded under “Research, development and manufacturing operations” expense and “Selling, general and administrative” expense in the Condensed Statements of Operations.

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Debt (Tables)

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Schedule of Maturities of Long-term Debt

As of June 30, 2014, future principal payments on long-term debt are due as follows:

2014	$	143,808
2015	302,210
2016	322,771
2017	344,730
2018	368,183
Thereafter	4,729,281
	$	6,210,983

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Joint Venture

6 Months Ended

Jun. 30, 2014

Equity Method Investments and Joint Ventures [Abstract]

Joint Venture

JOINT VENTURE

On December 28, 2013, the Company entered into a definitive agreement for the establishment of a joint venture with the Government of the Municipal City of Suqian in Jiangsu Province, China (“Suqian”).

The agreement covers a multi-faceted, three-phase project. Completion of all three phases would involve an anticipated investment of up to $500 million over 6 years, comprised of equipment, intellectual property and cash funded by Suqian, the Company, and other supporting investors to be brought in by the Company.

In the initial phase of the project, the Company and Suqian will form a joint venture entity (“JV”) in which Suqian will inject approximately $4.8 million in cash and have majority interest of 75%. The Company will inject approximately $1.6 million in cash and hold a minority interest of 25%. Later in 2014, Suqian will further inject the balance of the committed $32.5 million while the Company will contribute its proprietary technology and intellectual property, as well as certain equipment from its Colorado facility, thereby increasing the Company's shareholdings progressively up to an 80% ownership.

Under the terms of the definitive agreement, in phase 1 and phase 2 of the project, the Company is required to contribute to the JV manufacturing equipment, intellectual property assets, proprietary technology and know-how, and cash for its ownership share, and Suqian is required to contribute cash for its ownership share. Pursuant to the terms of the Definitive Agreement, the Company's total contribution for phase 1 and phase 2 is required to be approximately $130 million. Suqian's total contribution for phase 1 and phase 2 is required to be approximately $32 million.

Pursuant to the terms of the Definitive Agreement, Ascent and Suqian are required to ascribe a dollar value to the Company's non-cash contributions. The major milestone was the agreement by the Suqian government to credit approximately $77 million to the Company's contribution of its proprietary technology, which represents 60% towards Ascent's total required contribution of $130 million. In order to value the Company's intellectual property assets, the parties jointly agreed to hire an independent appraisal company located in China. The appraisal company has now completed that review and has submitted the valuation report to each of the JV partners. This report valued the Company's intellectual property assets at approximately $65 million, plus 20% premium added by Suqian government to bring the total value to $77 million. The remaining 40% of the Company's contribution will be in the form of some equipment from its Colorado plant and/or cash. The exact amounts of cash and equipment will be determined at a later date. These amounts of cash and equipment will depend, among other things, on an assessment of the contributed equipment by a Chinese appraisal firm mutually selected by the Company and Suqian.

The actual contributions of cash and other assets into the JV by the Company and Suqian will happen incrementally over time. In addition, under the Definitive Agreement, Suqian has agreed to provide rent-free use of the 331,000-square-foot manufacturing facility and office space that is currently being built for the Company in the Suqian Economic and Industrial Development Science Park.

The JV will build a factory to manufacture the Company's proprietary photovoltaic modules. The Company is committed to purchase this factory within the first 5 years at the initial construction cost, and will also purchase Suqian's ownership interest in the JV at a cost of 1.5 times Suqian's cash investment.

The implementation of the agreement, including the formation of the JV entity, will be subject to a number of contractual conditions and governmental approvals. Such conditions and approvals must be obtained in the future in order for the Suqian factory to be built and become operational.

In December 2013, the Company established a wholly owned legal entity in Singapore (Ascent Solar (Asia) PTE. LTD. "Ascent Asia"). Ascent Asia was established initially to manage the Company's contract manufacturing partners in Asia.  In the longer term, this entity will serve as the Company's sales headquarters in Asia, in addition to providing management of regional warehousing operations. Any activity for Ascent Asia will be consolidated into the Company's financial statements.

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Stockholders' Equity

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

Common Stock

At June 30, 2014, the Company had 250,000,000 shares of common stock, $0.0001 par value, authorized for issuance. Each share of common stock has the right to one vote. As of June 30, 2014, the Company had 87,964,103 shares of common stock outstanding. The Company has not declared or paid any dividends related to the common stock through June 30, 2014.

Preferred Stock

At June 30, 2014, the Company had 25,000,000 shares of preferred stock, $0.0001 par value, authorized for issuance. Preferred stock may be issued in classes or series. Designations, powers, preferences, rights, qualifications, limitations and restrictions are determined by the Company’s Board of Directors. 750,000 shares have been designated as Series A preferred stock, 2,000 shares have been designated for Series B-1 and B-2 preferred stock, and 690 shares of Series C preferred stock. As of June 30, 2014, the Company had 212,390 shares of Series A preferred stock, no shares of Series B-1 preferred stock and no shares of Series B-2 preferred stock and 530 shares of Series C preferred stock outstanding. The Company has no declared unpaid dividends related to the preferred stock as of June 30, 2014.

Series A Preferred Stock

In June 2013, the Company entered into a Securities Purchase Agreement with an investor to sell an aggregate of 750,000 shares of Series A Preferred Stock at a price of $8.00 per share, resulting in gross proceeds of $6,000,000. This purchase agreement included warrants to purchase up to 2,625,000 shares of common stock of the Company. The transfer of cash and securities took place incrementally, the first closing occurring on June 17, 2013 with the transfer of 125,000 shares of Series A Preferred Stock and a warrant to purchase 437,500 shares of common stock for $1,000,000. The final closings took place in August 2013, with the transfer of 625,000 shares of Series A Preferred Stock and a warrant to purchase 2,187,500 shares of common stock for $5,000,000.

Holders of Series A Preferred Stock are entitled to cumulative dividends at a rate of 8.0% per annum when and if declared by the Board of Directors in its sole discretion. The dividends may be paid in cash or in the form of common stock (valued at 10% below market price, but not to exceed the lowest closing price during the applicable measurement period), at the discretion of the Board of Directors. The dividend rate on the Series A Preferred Stock is indexed to the Company's stock price and subject to adjustment. In addition, the Series A Preferred Stock contains a make-whole provision whereby, conversion or redemption of the preferred stock within 4 years of issuance will require dividends for the full four year period to be paid by the Company in cash or common stock (valued at 10% below market price, but not to exceed the lowest closing price during the applicable measurement period).

The Series A Preferred Stock may be converted into shares of common stock at the option of the Company if the closing price of the common stock exceeds $1.60, as adjusted, for 20 consecutive trading days, or by the holder at any time. The Company has the right to redeem the Series A Preferred Stock at a price of $8.00 per share, plus any accrued and unpaid dividends, plus the make-whole amount (if applicable). At June 30, 2014, the preferred shares were not eligible for conversion to common shares at the option of the Company. The holder of the preferred shares may convert to common shares at any time, at no cost, at a ratio of 1 preferred share into 10 common shares (subject to standard ratable anti-dilution adjustments). Upon any conversion (whether at the option of the Company or the holder), the holder is entitled to receive any accrued but unpaid dividends and also any make-whole amount (if applicable). See Note 8. Make-Whole Dividend Liability.

During the three months ended June 30, 2014, the holder of the Series A Preferred Shares converted 150,000 preferred shares into 1,500,000 shares of common stock. As a result of this conversion, the Company paid a make-whole dividend on the conversion of Series A preferred stock in the amount of 1,040,749 shares of common stock in lieu of a cash payment of $520,000. As of August 11, 2014 there were 212,390 Series A Preferred Shares outstanding.

Except as otherwise required by law (or with respect to approval of certain actions), the Series A Preferred Stock shall have no voting rights. Upon any liquidation, dissolution or winding up of the Company, after payment or provision for payment of debts and other liabilities of the Company, the holders of Series A Preferred Stock shall be entitled to receive, pari passu with any distribution to the holders of common stock of the Company, an amount equal to $8.00 per share of Series A Preferred Stock plus any accrued and unpaid dividends.

The warrants offered as part of the Securities Purchase Agreement have a three year term and require payment of an exercise price of $0.90 per common share to the Company.

The Securities Purchase Agreement for the Series A Preferred Stock required that the registration statement, filed on August 16, 2013, must be declared effective within 90 days of the filing date. If the registration statement was not declared effective by this date, damages of 1% of the total investment amount, or $60,000, plus interest, would have been owed by the Company to the Holder for each month until registration statement effectiveness is reached or the investment amount is repaid in full. The registration statement became effective on August 30, 2013, therefore any potential registration rights liability owed to the Holder by the Company was eliminated as of September 30, 2013.

Series B Preferred Stock

In October 2013, the Company entered into a Securities Purchase Agreement with an investor to offer up to 1,000 shares of Series B-1 or Series B-2 preferred stock at a price of $10,000 per share, and gross proceeds of up to $10,000,000. The Company offered the Series B preferred stock in two tranches.  The first tranche closed on November 1, 2013, with the Company selling 500 shares of Series B-1 preferred stock in exchange for gross proceeds of $5,000,000. On January 20, 2014, at a special meeting of the stockholder's, the Company obtained stockholder approval for the offering. Delivery of the second tranche of $5,000,000 in exchange for 500 shares of Series B-1 preferred shares occurred on February 7, 2014. With the closing of both tranches resulting in the issuance of Series B-1 preferred shares, the Company will not offer Series B-2 preferred shares.

Holders of Series B preferred stock were entitled to cumulative dividends at a rate of 5.75% per annum when, and if, declared by the Board of Directors in its sole discretion. The dividends may be paid in cash or in the form of common stock (valued at 8% below market price, but not to exceed the lowest closing price during the applicable measurement period), at the discretion of the Board of Directors. The dividend rate on the Series B preferred stock is indexed to the Company's stock price and subject to adjustment. In addition, the Series B preferred stock contains an embedded dividend provision whereby, conversion or redemption of the preferred stock within 5 years of issuance will require dividends for the full five year period to be paid by the Company in cash or common stock (valued at 8% below market price, but not to exceed the lowest closing price during the applicable measurement period).

The Series B preferred stock may be converted into shares of common stock at the option of the Company if the closing price of the common stock exceeds $2.00, as adjusted, for 20 consecutive trading days, or by the holder at any time. The Company has the right to redeem the Series B preferred stock at a price of $10,000 per share, plus any accrued and unpaid dividends, plus the embedded dividend liability amount (if applicable). The holder of the Series B-1 preferred stock may convert to common shares at any time, at no cost, at a conversion price of $1.15 and a ratio of 1 preferred share into 8,696 common shares. Conversions by the holder are subject to standard ratable anti-dilution adjustments. Upon any conversion (whether at the option of the Company or the holder), the holder is entitled to receive any accrued but unpaid dividends and also any embedded dividend amount (if applicable). See Note 8. Make-whole dividend liability.

During the six months ended June 30, 2014, the holder of the Series B preferred stock converted all remaining 850 preferred shares into 7,391,304 shares of common stock. As a result of these conversions, the Company paid a make-whole dividends in the amount of 12,386,806 shares of common stock in lieu of a cash payment of $6,483,000.

Series C Preferred Stock

On April 1, 2014, the Company entered into a Securities Purchase Agreement to issue 600 shares of Series C Preferred Stock to an investor in exchange for $6.0 million.

The Series C Preferred Stock is convertible into common stock at a fixed conversion price of $1.15 per share of common stock. Holders of Series C Preferred Stock are entitled to cumulative dividends at a rate of 5.75% per annum when and if declared by the Board of Directors in its sole discretion. The dividends may be paid in cash or in the form of common stock (valued at 8% below market price, but not to exceed 92% of the lowest closing price during the applicable measurement period), at the discretion of the Board of Directors. The dividend rate on the Series C Preferred Stock is indexed to the Company's stock price and subject to adjustment. In addition, the Series C Preferred Stock contains an embedded dividend provision whereby, conversion or redemption of the preferred stock within 5 years of issuance will require dividends for the full five year period to be paid by the Company in cash or common stock (valued at 8% below market price, but not to exceed 92% of the lowest closing price during the applicable measurement period).

The Series C Preferred Stock may be converted into shares of common stock at the option of the Company if the closing price of the common stock exceeds $2.30, as adjusted, for 20 consecutive trading days, or by the holder at any time. The Company has the right to redeem the Series C Preferred Stock at a price of $10,000 per share, plus any accrued and unpaid dividends, plus the embedded dividend amount (if applicable). The holder of the Series C Preferred Stock may convert to common shares at any time, at no cost, at a conversion price of $1.15 and a ratio of 1 preferred share into 8,696 common shares. Conversions by the holder are subject to standard ratable anti-dilution adjustments. Upon any conversion (whether at the option of the Company or the holder), the holder is entitled to receive any accrued but unpaid dividends and also any embedded dividend amount (if applicable).

Except as otherwise required by law (or with respect to approval of certain actions), the Series C Preferred Stock shall have no voting rights. Upon any liquidation, dissolution or winding up of the Company, holders of Series C Preferred Stock will be entitled to be paid out of the Company's assets, on a parity with holders of the Company's common stock and the Company's Series A preferred stock, an amount equal to $10,000 per share plus any accrued but unpaid dividends thereon.

In connection with the Securities Purchase Agreement, the Company entered into a Registration Rights Agreement (“RRA”). The RRA provides that if a resale registration statement is not to be declared effective on or before (i) the 30th day after April 1, 2014, the Company will be required to issue 30 additional shares of Series C Preferred Stock to the investor; (ii) the 60th day after April 1, 2014, the Company will be required to issue 30 additional shares of Series C Preferred Stock to the investor; and (iii) before the 90th day after April 1, 2014, the Company will be required to issue 30 additional shares of Series C Preferred Stock to the investor. Because the resale registration statement had not yet been declared effective, on May 1, 2014, the Company issued 30 additional shares of Series C Preferred Stock to the investor.

During the six months ended June 30, 2014, the holder of the Series C preferred stock converted 100 preferred shares into 869,565 shares of common stock. As a result of these conversions, the Company paid a make-whole dividends in the amount of 2,835,539 shares of common stock in lieu of a cash payment of $900,000. Subsequent to June 30, 2014, the holders of Series C Preferred Stock converted 275 preferred shares into a total of 7,472,827 common shares, which include make-whole dividends. As of August 11, 2014, there were 255 shares of Series C Preferred Stock outstanding.

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Debt

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Debt

DEBT

On February 8, 2008, the Company acquired a manufacturing and office facility in Thornton, Colorado, for approximately $5.5 million. The purchase was financed by a promissory note, deed of trust and construction loan agreement (the “Construction Loan”) with the Colorado Housing and Finance Authority (“CHFA”), which provided the Company borrowing availability of up to $7.5 million for the building and building improvements. In 2009, the Construction Loan was converted to a permanent loan pursuant to a Loan Modification Agreement between the Company and CHFA (the “Permanent Loan”). The Permanent Loan, collateralized by the building, has an interest rate of 6.6% and the principal will be amortized through its term to January 2028. The Company will incur a prepayment penalty if the Permanent Loan is prepaid prior to December 31, 2015. Further, pursuant to certain negative covenants in the Permanent Loan, the Company may not, among other things, without CHFA’s prior written consent (which by the terms of the deed of trust is subject to a reasonableness requirement): create or incur additional indebtedness (other than obligations created or incurred in the ordinary course of business); merge or consolidate with any other entity; or make loans or advances to the Company’s officers, shareholders, directors or employees. The outstanding balance of the Permanent Loan was $6,210,983 as of June 30, 2014.

As of June 30, 2014, future principal payments on long-term debt are due as follows:

2014	$	143,808
2015	302,210
2016	322,771
2017	344,730
2018	368,183
Thereafter	4,729,281
	$	6,210,983

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Make-Whole Dividend Liability

6 Months Ended

Jun. 30, 2014

Make-whole dividend liability [Abstract]

Make-Whole Dividend Liability

MAKE-WHOLE DIVIDEND LIABILITY

In June 2013, the Company entered into a Series A Preferred Stock Purchase Agreement. Holders of Series A Preferred Stock are entitled to cumulative dividends at a rate of 8.0% per annum, with the dividend rate being indexed to the Company's stock price and subject to adjustment. Conversion or redemption of the Series A Preferred Stock within 4 years of issuance requires the Company pay a make-whole dividend to the holders, whereby dividends for the full four year period are to be paid in cash or common stock (valued at 10% below market price).

In October 2013, the Company entered into a Series B Preferred Stock Purchase Agreement. Holders of Series B Preferred Stock are entitled to cumulative dividends at a rate of 5.75% per annum, with the dividend rate being indexed to the Company's stock price and subject to adjustment. Conversion or redemption of the Series B Preferred Stock within 5 years of issuance requires the Company pay a make-whole dividend to the holders, whereby dividends for the full five year period are to be paid in cash or common stock (valued at 8% below market price, but not to exceed the lowest closing price paid during the applicable measurement period).

In May 2014, the Company entered into a Securities Purchase Agreement to issue 600 shares of Series C Preferred Stock to an investor in exchange for $6.0 million. Holders of Series C Preferred Stock are entitled to cumulative dividends at a rate of 5.75% per annum, when and if declared by the Board of Directors in its sole discretion. The dividends may be paid in cash or in the form of common stock (valued at 8% below market price, but not to exceed 92% of the lowest closing price during the applicable measurement period), at the discretion of the Board of Directors. The dividend rate on the Series C Preferred Stock is indexed to the Company's stock price and subject to adjustment. In addition, the Series C Preferred Stock contains an embedded dividend provision whereby, conversion or redemption of the preferred stock within 5 years of issuance will require dividends for the full five year period to be paid by the Company in cash or common stock (valued at 8% below market price, but not to exceed 92% of the lowest closing price during the applicable measurement period).

The Company concluded the make-whole dividends should be characterized as embedded derivatives under ASC 815. Make-whole dividends are expensed at the time of issuance and recorded as "Deemed dividends on Preferred Stock and accretion of warrants" in the Condensed Statements of Operations and "Make-whole dividend liability" in the Condensed Balance Sheets. During the six months ended June 30, 2014, the Company recorded $4.7 million for make-whole dividends related to the issuance of 630 Series C preferred shares. See Note 9. Stockholders' Equity.

The fair value of these dividend liabilities, which are indexed to the Company's common stock, must be evaluated at each period end. The fair value measurements rely primarily on Company-specific inputs and the Company’s own assumptions. With the absence of observable inputs, the Company determined these recurring fair value measurements reside primarily within Level 3 of the fair value hierarchy. Fair value determination required forecasting stock price volatility, expected average annual return and conversion date. During the six months ended June 30, 2014, the Company recorded a net increase in fair value of the liability in the amount of $2.2 million, recorded as "Change in fair value of make-whole dividend liability" in Other Income/(Expense) in the Condensed Statements of Operations and in the Condensed Statement of Cash Flows.

At June 30, 2014, there were 212,390 shares and 530 shares of Series A and Series C Preferred Shares outstanding, respectively. At June 30, 2014, the Company was entitled to redeem the outstanding Series A preferred shares for $1.7 million, plus a make-whole amount of $0.8 million, payable in cash or common shares. At June 30, 2014, the Company was entitled to redeem the outstanding Series C preferred shares for $5.3 million, plus a make-whole amount of $4.7 million , payable in cash or common shares. The combined fair value of the make-whole dividend liabilities for the Series A and Series C preferred shares, which approximates cash value, was $5.5 million as of June 30, 2014.

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Equity Plans and Share-Based Compensation

6 Months Ended

Jun. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Equity Plans and Share-Based Compensation

EQUITY PLANS AND SHARE-BASED COMPENSATION

Share-Based Compensation: The Company measures share-based compensation cost at the grant date based on the fair value of the award and recognizes this cost as an expense over the grant recipients’ requisite service periods for all awards made to employees, officers, directors and consultants.

The share-based compensation expense recognized in the Condensed Statements of Operations was as follows:

	For the three months ended June 30,				For the six months ended June 30,
	2014		2013		2014		2013
Share-based compensation cost included in:
Research and development	$	83,576	$	58,570	187,070		$	124,826
Selling, general and administrative	118,934		134,457		238,253		243,092
Total share-based compensation cost	$	202,510	$	193,027	$	425,323	$	367,918

The following table presents share-based compensation expense by type:

	For the three months ended June 30,				For the six months ended June 30,
	2014		2013		2014		2013
Type of Award:
Stock Options	$	83,247	$	96,595	215,539		$	201,545
Restricted Stock Units and Awards	119,263		96,432		209,784		166,373
Total share-based compensation cost	$	202,510	$	193,027	$	425,323	$	367,918

Stock Options: The Company recognized share-based compensation expense for stock options of $216,000 to officers, directors and employees for the six months ended June 30, 2014 related to stock option awards ultimately expected to vest. The weighted average estimated fair value of employee stock options granted for the six months ended June 30, 2014 and 2013 was $0.50 and $0.48 per share, respectively. Fair value was calculated using the Black-Scholes Model with the following assumptions:

	For the six months ended June 30,
	2014	2013
Expected volatility	95%	97%
Risk free interest rate	2%	1%
Expected dividends	—	—
Expected life (in years)	5.9	5.2

Expected volatility is based on the historical volatility of the Company’s stock. The risk-free rate of return is based on the yield of U.S. Treasury bonds with a maturity equal to the expected term of the award. Historical data is used to estimate forfeitures within the Company’s valuation model. The Company’s expected life of stock option awards is derived from historical experience and represents the period of time that awards are expected to be outstanding.

As of June 30, 2014, total compensation cost related to non-vested stock options not yet recognized was $349,000 which is expected to be recognized over a weighted average period of approximately 1.7 years. As of June 30, 2014, 1,783,172 shares were vested or expected to vest in the future at a weighted average exercise price of $1.59. As of June 30, 2014, 614,967 shares remained available for future grants under the Option Plan.

Restricted Stock: In addition to the stock options discussed above, the Company recognized share-based compensation expense related to restricted stock grants of $210,000 for the six months ended June 30, 2014. The weighted average estimated fair value of restricted stock grants for the six months ended June 30, 2014 and 2013 was $0.71 and $0.62 per share, respectively.

Total unrecognized share-based compensation expense from unvested restricted stock as of June 30, 2014 was $207,000 which is expected to be recognized over a weighted average period of approximately 0.7 years. As of June 30, 2014, 583,406 shares were expected to vest in the future. As of June 30, 2014, 2,136,485 shares remained available for future grants under the Restricted Stock Plan.

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Equity Plans and Share-Based Compensation (Share-based compensation cost by line item) (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation cost	$ 202,510	$ 193,027	$ 425,323	$ 367,918
Research and development [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation cost	83,576	58,570	187,070	124,826
Selling, general, administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation cost	$ 118,934	$ 134,457	$ 238,253	$ 243,092

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Property, Plant and Equipment (Tables)

6 Months Ended

Jun. 30, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

The following table summarizes property, plant and equipment as of June 30, 2014 and December 31, 2013:

	As of June 30,			As of December 31,
	2014			2013
Building	$	5,820,509		$	5,820,509
Furniture, fixtures, computer hardware and computer software	473,842			461,491
Manufacturing machinery and equipment	32,374,065			32,332,905
Net depreciable property, plant and equipment	38,668,416			38,614,905
Less: Accumulated depreciation and amortization	(20,804,558		)	(17,850,688		)
Net property, plant and equipment	$	17,863,858		$	20,764,217

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Liquidity and Continued Operations (Details) (USD $)	1 Months Ended	6 Months Ended		104 Months Ended								0 Months Ended					0 Months Ended
	Apr. 30, 2014	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2014 Series B-1 Preferred Stock [Member]	Dec. 31, 2013 Series B-1 Preferred Stock [Member]	Jun. 30, 2014 Series C Preferred Stock [Member]	May 31, 2014 Series C Preferred Stock [Member]	Dec. 31, 2013 Series C Preferred Stock [Member]	Oct. 31, 2013 Sale of Stock Tranche One [Member] Series B-1 Preferred Stock [Member]	Jun. 30, 2014 Service Agreement with Swyft, Inc. [Member] store	Jun. 30, 2014 8% Convertible Debt [Member] Convertible Debt [Member] Service Agreement with Swyft, Inc. [Member]	Jun. 30, 2014 8% Convertible Debt [Member] Convertible Debt [Member] Service Agreement with Swyft, Inc. [Member]	Jun. 30, 2014 8% Convertible Debt [Member] First Convertible Debt Loan [Member] Service Agreement with Swyft, Inc. [Member] store	Jun. 30, 2014 8% Convertible Debt [Member] Second Convertible Debt Loan [Member] Service Agreement with Swyft, Inc. [Member] store	Jun. 30, 2014 8% Convertible Debt [Member] Continued Convertible Debt Loan Financing [Member] Service Agreement with Swyft, Inc. [Member] store	Jul. 29, 2014 Subsequent Event [Member] Common Stock [Member]	Aug. 11, 2014 Subsequent Event [Member] Common Stock [Member]
Schedule of Liquidity and Continued Operations [Line Items]
Cash and investments		$ 1,300,000		$ 1,300,000
Preferred stock, shares issued					1,000	1,000	630	600	630	500
Preferred stock, issued					0	0	0	6,000,000	0	5,000,000
Shares issued for the securities purchase agreement (in shares)																	4,000,000
Value of shares issued for the securities purchase agreement																	1,320,000
Share price (in dollars per share)																		$ 0.33
Net cash (used in) operating activities		(12,664,963)	(9,981,039)	(122,588,724)
Notes payable		6,200,000		6,200,000
Notes payable, repayments of principal and interest in remainder of fiscal year		300,000		300,000
Debt instrument, term												3 years
Stated interest rate													8.00%
Convertible debt													337,500	171,000	166,500
Number of stores											75			38	37	50
Store price											4,500
Deferred set-up costs											125,000
Litigation settlement (against) the company	$ (1,600,000)
Litigation settlement, payment period	40 months
Minimum bid price requirement for continued listing (in dollars per share)		$ 1.00		$ 1.00

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Subsequent Event (Details) (Common Stock [Member], Subsequent Event [Member], USD $) In Thousands, except Share data, unless otherwise specified	0 Months Ended
	Aug. 11, 2014	Jul. 29, 2014	Aug. 11, 2014
Common Stock [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Shares issued for the securities purchase agreement (in shares)		4,000,000
Value of shares issued for the securities purchase agreement		$ 1,320
Share price (in dollars per share)			$ 0.33
Option to purchase additional shares (in shares)	8,000,000
Option to purchase additional shares	$ 2,640

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Condensed Statements of Operations (Parenthetical) (USD $)	104 Months Ended
	Jun. 30, 2014
Income Statement [Abstract]
Revenue from related parties	$ 555,230

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Liquidity and Continued Operations

6 Months Ended

Jun. 30, 2014

LIQUIDITY AND CONTINUED OPERATIONS [Abstract]

Liquidity and Continued Operations

LIQUIDITY AND CONTINUED OPERATIONS

As of June 30, 2014, the Company had approximately $1.3 million in cash and cash equivalents. The Company is in the development stage and is currently incurring significant losses from operations as it works toward further commercialization. In February 2014, the Company completed the sale of 500 shares of Series B-1 preferred stock in a private placement for gross proceeds of $5.0 million. In May 2014, the Company completed the sale of 600 shares of Series C preferred stock in a private placement for gross proceeds of $6.0 million. On July 29, 2014, Ascent Solar Technology, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with SHTARD Enterprises Ltd. (the “Investor”). Pursuant to the terms of the Purchase Agreement, the Company issued and sold to the Investor 4,000,000 shares of the Company’s common stock in the aggregate original amount of $1,320,000 or $0.33 per share. On August 11, 2014, the Investor purchased an additional 8,000,000 shares from the Company at $0.33 per share or $2,640,000 total.

The Company has commenced 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 we have fully implemented our new consumer products strategy. During the first half of 2014, the Company used $12.7 million in cash for operations. For the remainder of 2014, the Company expects to incur a base level of maintenance capital expenditures and relatively minor improvements to the existing asset base along with an increased sales effort. As of June 30, 2014 the Company's primary significant long term obligation consists of a note payable of $6.2 million to a financial institution secured by a mortgage on its headquarters and manufacturing building in Thornton, Colorado. Total payments of $0.3 million, including principal and interest, on $6.2 million note payable will come due in the remainder of 2014.

On June 30, 2014, the Company entered into a Service Agreement with Swyft, Inc. (“Swyft”). Swyft will sell consumer products through automated retail stores (kiosks), provide online and mobile retail channels through a website and mobile application, and provide visual and text based advertising through both physical and digital channels. The Company will provide financing to Swyft in the form of a three year 8% convertible note to purchase seventy five (75) automated retail stores at $4,500 per store, or a total of $337,500, from ZoomSystems, the manufacturer of automated retail machines. The first convertible loan financing for thirty eight (38) automated retail stores of $171,000 was provided by the Company by July 31, 2014 and the second convertible loan financing for thirty seven (37) automated retail stores of $166,500 will be provided by the Company by January 7, 2015. The Company also has an option to continue loan financing for each additional block of fifty (50) automated retail stores. The Service Agreement also requires the Company to pay one time project set-up fees of $125,000 due within seventy five days after June 30, 2014, the effective date of the agreement.

The Company owes $1.6 million related to a litigation settlement reached in April 2014, which is being paid in equal installments over 40 months beginning in April 2014. Additional projected product revenues are not anticipated to result in a positive cash flow position for the year 2014 overall. However, the Company believes it will have sufficient cash liquidity for the year ending December 31, 2014, given the aforementioned new financing and additional financing that is expected to be secured in the second half of the year. We have begun activities related to securing additional financing through strategic or financial investors, but there is no assurance we will be able to raise additional capital on acceptable terms or at all. 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. If revenues do not increase rapidly, and/or additional financing is not obtained, we will be required to significantly curtail operations to reduce costs and/or sell assets. Such actions would likely have an adverse impact on our future operations.The Company is currently not in compliance with the NASDAQ minimum $1.00 bid price requirement. On March 27, 2014, the Company received approval to transfer its listing from the NASDAQ Global Market tier to the NASDAQ Capital Market tier, effective with opening of the market on March 28, 2014. The Company's common stock will continue to trade under the symbol “ASTI”.  The NASDAQ Capital Market is a continuous trading market that operates in substantially the same manner as the NASDAQ Global Market.Transfer of the Company's listing to the NASDAQ Capital Market resulted in an additional 180-day period within which to regain compliance with the $1.00 minimum bid price requirement, through September 15, 2014 (the "Compliance Date"). The Company intends to continue to monitor the bid price of its common stock. If the Company's common stock does not trade at a level that is likely to regain compliance with the NASDAQ requirements, the Company's Board of Directors may consider other options that may be available to achieve compliance. One option to regain compliance is a reverse stock split; however a reverse stock split could have negative implications. If at any time before the Compliance Date, the closing bid price of the Company's common stock is at least $1.00 per share for at least ten consecutive business days, the Company will regain compliance with the price requirement. There is no assurance that the Company can demonstrate compliance by the Compliance Date or comply with the terms of the extension granted by NASDAQ, and the Company's common stock may then be subject to delisting.

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Property, Plant and Equipment (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 38,668,416		$ 38,668,416		$ 38,614,905
Less: Accumulated depreciation and amortization	(20,804,558)		(20,804,558)		(17,850,688)
Net property, plant and equipment	17,863,858		17,863,858		20,764,217
Depreciation expense	1,493,944	1,544,282	2,961,690	3,077,911
Building [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	5,820,509		5,820,509		5,820,509
Furniture, fixtures, computer hardware and computer software [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	473,842		473,842		461,491
Manufacturing machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 32,374,065		$ 32,374,065		$ 32,332,905

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Related Party Transactions (Details) (USD $)	104 Months Ended		6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014 TFG Radiant [Member]	Dec. 31, 2013 TFG Radiant [Member]
Related Party Transaction [Line Items]
Percent of common stock outstanding			18.00%
Related Party Transaction, Expenses from Transactions with Related Party			$ 537,000
Related Party Transaction, Expenses from Transactions with Related Party, Consulting Fees			200,000
Related Party Transaction, Expenses from Transactions with Related Party, Finished Goods and Deposits on Work In Process			337,000
Revenue from related parties	555,230
Related party receivables and deposits	$ 134,200	$ 21,122	$ 134,000	$ 21,000

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Subsequent Event

6 Months Ended

Jun. 30, 2014

Subsequent Events [Abstract]

Subsequent Event

SUBSEQUENT EVENTOn July 29, 2014, Ascent Solar Technology, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with SHTARD Enterprises Ltd. (the “Investor”). Pursuant to the terms of the Purchase Agreement, the Company issued and sold to the Investor 4,000,000 shares of the Company’s common stock in the aggregate original amount of $1,320,000 or $0.33 per share. On August 11, 2014, the Investor purchased an additional 8,000,000 shares from the Company at $0.33 per share or $2,640,000 total.