Net loss for the quarter was US$6.1 million, compared to US$11.3 million in the prior quarter. Net loss for the first nine months of 2015 reached US$35.9 million, compared to US$31.4 million in the same period of 2014.
"While we are not satisfied with the results after a strong secsolar panel system 1500w
ond quarter, we feel we are in a much better financial position after our recent balance sheet restructuring activity," said Victor Lee, president and CEO of Ascent Solar Technologies. "Third quarter operations were severely impacted by our cash flow constraints due to the ongoing senior secured notes restructurinsolar panel system 1500w
g exercise that was announced in September and October of 2015. As announced most recently on November 11, 2015, the company has secured a new funding source and expects that the existing senior secured notes will be mostly or entirely retired by the end of the year."
As a result of the financial constraints said by management to hasolar panel system 1500w
ve eased, Ascent Solar noted shipments had recovered to around US$1.6 million of merchandise so far in the fourth quarter and was expect to end the quarter with approximately US$3.1 million revenue and full year revenusolar panel system 1500w
es of approximately US$7.2 million.
“While this would fall short of our earlier guidance of a minimum of US$10 million, given all the constraints that we have had, it still represents healthy growth of apsolar panel system 1500w
proximately 34% year-over-year,” concluded Lee.
The company recently announced new capital injection of several million dsolar panel system 1500w
ollars, but at the end of September, 2015 had had approximately US$0.6 million in cash and cash equivalents.
Ascent Solar has plans board permission to raise a total of US$35 million in the next 12 months.
A new report from the Climate Policy Initiative gives an in-depth look at how economic adjustments and financial resources could play a huge role in combatting climate change.solar panel system 1500w
According to the report, 'Global Landscape of Climate Finance 2015', more money than ever was invested in low-carbon and climate-resistant growth in 2014, with US$391 billion invested last year — a boost from US$331 billion generated in 2013.
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