Ascent Solar Technologies Inc., a Thornton, Colorado-based developer and manufacturer of flexible thin-film modules based on CIGS solar cells, obtains further funding from its strategic investor Hong Kong Boone Group Limited, which converted another 3,000 shares ($3.0 million of invested capital) of the Series K Convertible Preferred Stock into Common Stock of the company at the fixed price of $0.0040 per share. Ascent issued an additional 750 million shares of restricted Common Stock to the Boone Group. In aggregate, Boone Group has now converted $6.2 million worth of the Series K Preferred Stock and owns 1,550 million shares of the company, which represents approximately 19.15 percent of the company's total outstanding shares.
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