This trading challenge student who named his newborn baby after me as you read about here is one of my favs and he just sent me an email with some solid research on ASTI….good stuff:
(especially since he too has come to believe Seeking Alpha has been used to pump up penny stocks…as I wrote about here)
- on Aug 6 it gapped up from 1.10s to 1.30s on when they announced that they will supply panels to Foxconn http://www.bloomberg.com/news/
- on Aug 10 it was pushed higher with the help of SA article, author believes that ASTI will be as successful as ZAGG with the solar battery market what ZAGG did with the protective screen market for mobile devices. http://seekingalpha.com/
- on Aug 13 it surged from 1.30s to 1.60s when they announced it has launched a charger for the Samsung® Galaxy S III® http://finance.yahoo.com/news/
- on Aug 14 another SA article http://seekingalpha.com/
- on Aug 10 for some reason its ugly quarterly report slipped from investors view as it did not effect the stock price http://yahoo.brand.edgar-
*Rev. $154K vs $442K in 2012Q2 vs $1M in 2011Q3, Net loss $5.9M vs $5.5M in 2012Q2 vs $85M in 2011Q3 and acc. deficit is -$194M
*Our revenues were $155,000 for the three months ended June 30, 2012 compared to $1,027,000 for the three months ended June 30, 2011 , a decrease of $872,000 . Revenues for the three months ended June 30, 2012 include $63,000 of product sales compared to $83,000 for the three months ended June 30, 2011 , a decrease of $20,000 .
*Our revenues were $596,000 for the six months ended June 30, 2012 compared to $2,211,000 for the six months ended June 30, 2011 , a decrease of $1,615,000 . Revenues for the six months ended June 30, 2012 include $73,000 of product sales compared to $301,000 for the six months ended June 30, 2011 , a decrease of $228,000 . Revenues earned on our government research and development contracts decreased by $852,000 and $1,387,000 during the three and six months ended June 30, 2012 , respectively, due to the winding down of two government contracts.
*We have commenced limited 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 strategy.
*On April 11, 2012, we received notice from The NASDAQ Stock Market (“Nasdaq”) stating that because we had not regained compliance with the $1.00 minimum bid price requirement for continued listing, our common stock (listed on The Nasdaq Global Market) would be subject to delisting. We presented our plan to regain compliance before a Nasdaq Hearings Panel in May 2012. As a result of this hearing, we were granted a stay on any delisting action until October 8, 2012. Although our stock recently traded above $1.00 per share, we may if ultimately necessary, seek shareholder approval to implement a reverse stock split to remain in compliance with the $1.00 bid price requirement prior to October 8, 2012.
*On August 12, 2011, we completed a strategic alliance with TFG Radiant. As part of this strategic alliance, TFG Radiant acquired 6,400,000 shares of our common stock at a price of $1.15 per share or $7,360,000 in the aggregate. The closing price of our common stock on August 12, 2011 was $0.73 per share. In addition, TFG Radiant received an option to acquire an additional 9,500,000 shares of our common stock at an exercise price of $1.55 per share. The option was approved by our shareholders on October 27, 2011, as well as an increase in the number of authorized shares of common stock to 125,000,000. TFG Radiant may not exercise this option unless and until TFG Radiant meets a specified milestone associated with the construction of the first East Asia FAB. This option expires on February 12, 2014.
*On December 29, 2011, we filed a “shelf” Registration Statement on Form S-3 with the SEC, which replaced our previously effective shelf registration. With the shelf registration, we may from time to time sell common stock, preferred stock, warrants or some combination in one or more offerings for up to $25.0 million. The registration became effective February 14, 2012.
*On January 5, 2012, we entered into an At-the-Market Offering Sales Agreement pursuant to which we may issue and sell such number of shares of our common stock having an aggregate offering price of up to $5,000,000. Sales of common stock, if any, will be made at market prices by any method that is deemed an “at-the-market” offering as defined in Rule 415 under the Securities Act, including sales made directly on the NASDAQ stock exchange and any other trading market for our common stock, and sales to or through a market maker other than on an exchange. There is no assurance we will be able to sell shares of our common stock under this agreement at acceptable prices or at all. The aggregate compensation payable to the sales agent shall be equal to 3% of the gross sales price of the shares sold. As of March 31, 2012, 1,594,395 shares had been sold under this facility with net proceeds of $1,234,391 . There were no share sales during the quarter ended June 30, 2012.
- as you see see there is a pending shelf of $25M and they have the rights to sell up to $5M “at-the-market”, so far they have sold 1,594,395 shares or $1.2M. And TFG Radiant has an option to acquire an additional 9,500,000 shares @an exercise price of $1.55. Currently there are 41,318,928 s/o if TFG executes its option and they sell the remaining of $3.8M at ATM, its o/s will balloon to > 51M.
With such pressure and fluff news it should be back down at low $1s or even under $1 in the next few months.
Posted in Penny Stock Research Reports
