ASCENT SOLAR TECHNOLOGIES, INC. (OTCMKTS:ASTI) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
Entry into Settlement Agreement
On July 24, 2017, the Company entered into a settlement agreement with a consultant that had been retained by the Company in July 2016. The Company settled all of its obligations with the consultant and canceled the consulting agreement.
Under the settlement, the Company will pay the consultant $20,000 in cash. In addition, the Company will issue a warrant to the consultant for 250,000,000 shares of common stock.
The warrant has a fixed exercise price of $0.004 per common share and has a one year term.
The warrant may not be exercised if, after giving effect to the exercise, the holder would beneficially own in excess of 9.99%, at the election of the holder as of the Closing Date, of the outstanding shares of Common Stock.
Item 1.01 Unregistered Sales of Equity Securities.
All of the securities described in this Current Report on Form 8-K were or will be offered and sold in reliance upon exemptions from registration to 4(a)(2) under the Securities Act of 1933, as amended (“Securities Act”), and Rule 506 of Regulation D promulgated thereunder.
Item 1.01Financial Statements and Exhibits.
(d)The following exhibits are filed with this report:
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Exhibit Number |
Description |
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10.1 |
Warrant dated July 24, 2017 |
Ascent Solar Technologies, Inc. ExhibitEX-10.1 2 ex101warrant-7x24x17.htm EXHIBIT 10.1 Exhibit Exhibit 10.1NEITHER THIS WARRANT NOR ANY SHARES ISSUABLE UPON THE EXERCISE OF THIS WARRANT (TOGETHER,…To view the full exhibit click here
About ASCENT SOLAR TECHNOLOGIES, INC. (OTCMKTS:ASTI)
Ascent Solar Technologies, Inc. is engaged in commercializing flexible photovoltaic (PV) modules using its technology. The Company’s manufacturing process deposits multiple layers of materials, including a thin film of copper-indium-gallium-diselenide (CIGS) semiconductor material, on a 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. The Company is producing consumer oriented products focusing on charging devices powered by its solar modules. It manufactures its products by affixing a thin CIGS layer to a flexible, plastic substrate using a roll-to-roll process. Its EnerPlex products are available on www.goenerplex.com and a range of third-party e-commerce sites, including www.amazon.com, www.bestbuy.com, www.walmart.com, www.newegg.com, www.frys.com, www.cabelas.com and several others.
