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Ascent Solar Technologies, Inc. Message Board

  • solarguru621 solarguru621 Oct 29, 2013 12:07 PM Flag

    Insiders diluting and selling into rallies

    Almost 4 million more shares to be sold if Mr. Seow converts all of his Class A...
    Enerplex sales are weak at best..
    Surprised they claim 4.9 M still in the kitty as of 9/30 unless thre was another stealth secondary...

    "During September and October 2013, Mr. Seow converted a total of 387,610 shares of Series A Preferred Stock. Upon such conversion, the Company issued to Mr. Seow a total 4,897,872 shares of Common Stock in accordance with the terms of the Series A Preferred Stock.

    3,876,100 of such shares were issued in accordance with the applicable 1-for-10 conversion ratio. 1,021,772 of such shares were issued in payment (in lieu of cash) of the accrued dividend and make-whole amounts applicable to the Series A Preferred Stock.

    The Company did not receive any additional proceeds in connection with the conversion transactions.

    All of the shares of Common Stock described in this Current Report on Form 8-K were offered and sold in reliance upon the exemption from registration pursuant to Section 3(a)(9) under the Securities Act of 1933, as amended ("Securities Act"). "

    Sentiment: Sell

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