After all the dilution to occur next year, you'll have about 1/3 or 1/4 of the share of the company that you have now. ASTI will need to hit $100M in sales to make the stock worth even one dollar.
They're probably using the Turkey site as a test market. They also have a series of mountaineering packs listed there but "out of stock". Maybe not even in production yet, but just getting a feel for the demand?
The packr backpack is decent but could use a little bit of improvement in quality. The pack itself is pretty average fare in terms of build quality. Looks nice, though.
Another thought is that these packs are a proof-of-concept that will serve to attract specialized pack manucturers (i.e. Jansport, The North Face, etc. etc.). They could sell the panels to them (in the same way Gore-Tex sells their technology to other brands). That might ultimately be a more profitable business model. Specialized applications such as backpacks is really where Ascent can shine.
Cause the results were pathetic. Investors should be tired of the excuses. Management said they would do $10-12M this year. They won't even come close. Bad, bad, bad .. no if, ands or buts about it.
Ascent is clearly not doing something right. Goal zero brand is beating the pants off Enerplex. Cost-cutting is nice but they still need to sell some product. Hard to believe what management says about labor under-utilization and expanding sales channels blah blah blah - cause everything they've said prior has turned out to be a lie.
If they were flush with cash right now they might be able to get on track next year. But new dilution (which management spins as more shareholder friendly, lol) is going to kill the stock. The new "private investor" gets shares 20% below market. They can flip those shares to the public for a tidy profit. So they win, the company wins but the retail guy loses.
Also notice how they conveniently put out the 10-Q Friday after hours. (wait till nobody's paying attention so the damage is minimized)
Restructuring was used as the excuse. This company is high on excuses and weak on execution. At the end of the day, the revenue is what counts and ASTI is coming up short. A large liquor store in a prime location can make the kind of money this gadget maker with international presence is making. And turn a profit.
The bragging about how 4th quarter is going really doesn't impress either. Sept/Oct is when all the retailers put in their big orders to bulk up for the holiday shopping season. Strong sales during this time is to be expected, unfortunately it's not enough. Still there's a faint glimmer of hope but it just got fainter.