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Quercus Trust, et al. – ‘SC 13D/A’ on 9/14/07 re: Ascent Solar Technologies, Inc.

On:  Friday, 9/14/07, at 7:05pm ET   ·   As of:  9/17/07   ·   Accession #:  1019687-7-3073   ·   File #:  5-82435

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 9/17/07  Quercus Trust                     SC 13D/A    9/14/07    1:14K  Ascent Solar Technologies, Inc.   Publicease Inc/FA
          David Gelbaum, Trustee
          Monica Chavez Gelbaum, Trustee
          The Quercus Trust

Amendment to General Statement of Beneficial Ownership   —   Schedule 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D/A    Amendment No. 2                                        7     28K

Document Table of Contents

Page (sequential) | (alphabetic) Top
 
11st Page   -   Filing Submission
5Item 5. Interest in Securities of the Issuer
"Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
"Item 7. Material to Be Filed as Exhibits 
SC 13D/A1st Page of 7TOC↑TopPreviousNext↓BottomJust 1st
 

CUSIP No. 043635101                                                             
 UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 13D

(Amendment No. 2) 

 UNDER THE SECURITIES EXCHANGE ACT OF 1934

 Ascent Solar Technologies, Inc.

(Name of Issuer)

 Common Stock, par value $0.0001

(Title of Class of Securities)

 043635101

(CUSIP Number)

Joseph P. Bartlett, Esq.
Greenberg Glusker Fields Claman & Machtinger LLP
1900 Avenue of the Stars, Suite 2100
 Los Angeles, CA 90067
(310) 201-7481

 (Name, Address and Telephone Number of Person Authorized to Receive Notices
 and Communications)

September 12, 2007
 (Date of Event which Requires Filing of this Statement)

If the reporting person has previously filed a statement on Schedule 13G to     
report the acquisition that is the subject of this Schedule 13D, and is filing  
this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),   
check the following box / /.                                                    

NOTE: Schedules filed in paper format shall include a signed original and five  
copies of the schedule, including all exhibits. See Section 240.13d-7(b) for    
other parties to whom copies are to be sent.                                    

* The remainder of this cover page shall be filled out for a reporting person's 
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter           
disclosures provided in a prior cover page.                                     

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of   
1934 ("Act") or otherwise subject to the liabilities of that section of the Act 
but shall be subject to all other provisions of the Act (however, see the       
Notes).                                                                         


SC 13D/A2nd Page of 7TOC1stPreviousNext↓BottomJust 2nd

--------------------------------------------------------------------------------
1.   Name of Reporting Persons.                                                 
I.R.S. Identification Nos. of above persons (entities only).          

David Gelbaum, Trustee, The Quercus Trust                             
--------------------------------------------------------------------------------
2.   Check the Appropriate Box If a Member of a Group (See Instructions)        
(a)  [X]                                                              
(b)  [_]                                                              
--------------------------------------------------------------------------------
3.   SEC Use Only                                                               

--------------------------------------------------------------------------------
4.   Source of Funds (See Instructions)                                         
PF                                                                    
--------------------------------------------------------------------------------
5.   Check If Disclosure of Legal Proceedings Is Required Pursuant to           
Items 2(d) or 2(e)                                             [_]    

--------------------------------------------------------------------------------
6.   Citizenship or Place of Organization                                       
U.S.                                                                  
--------------------------------------------------------------------------------
7.   Sole Voting Power                            
NUMBER OF         -0-                                                       
   SHARES      -----------------------------------------------------------------
BENEFICIALLY   8.   Shared Voting Power                                         
OWNED BY           1,123,146                                                  
    EACH       -----------------------------------------------------------------
REPORTING    9.   Sole Dispositive Power                                    
PERSON           -0-                                                      
    WITH       -----------------------------------------------------------------
10.  Shared Dispositive Power                     
1,123,146                               
--------------------------------------------------------------------------------
11.  Aggregate Amount Beneficially Owned by Each Reporting Person               
1,123,146                                                             
--------------------------------------------------------------------------------
12.  Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares      
(See Instructions)                                               [_]  
--------------------------------------------------------------------------------
13.  Percent of Class Represented by Amount in Row (11)                         
10.2%(1)                                                              
--------------------------------------------------------------------------------
14.  Type of Reporting Person (See Instructions)                                
IN                                                                    
--------------------------------------------------------------------------------

_____________                                                                   
(1) Based on 11,009,602 shares of Common Stock, par value $0.0001 per share, as 
reported in the Issuer's Quarterly Report on Form 10-QSB for the quarter period 
ended June 30, 2007 and Current Report on Form 8K dated August 16, 2007.        

2 


SC 13D/A3rd Page of 7TOC1stPreviousNext↓BottomJust 3rd

--------------------------------------------------------------------------------
1.   Name of Reporting Persons.                                                 
I.R.S. Identification Nos. of above persons (entities only).          

Monica Chavez Gelbaum, Trustee, The Quercus Trust                     
--------------------------------------------------------------------------------
2.   Check the Appropriate Box If a Member of a Group (See Instructions)        
(a)  [X]                                                              
(b)  [_]                                                              
--------------------------------------------------------------------------------
3.   SEC Use Only                                                               

--------------------------------------------------------------------------------
4.   Source of Funds (See Instructions)                                         
PF                                                                    
--------------------------------------------------------------------------------
5.   Check If Disclosure of Legal Proceedings Is Required Pursuant to           
Items 2(d) or 2(e)                                             [_]    

--------------------------------------------------------------------------------
6.   Citizenship or Place of Organization                                       
U.S.                                                                  
--------------------------------------------------------------------------------
7.   Sole Voting Power                            
NUMBER OF         -0-                                                       
   SHARES      -----------------------------------------------------------------
BENEFICIALLY   8.   Shared Voting Power                                         
OWNED BY           1,123,146                                                  
    EACH       -----------------------------------------------------------------
REPORTING    9.   Sole Dispositive Power                                    
PERSON           -0-                                                      
    WITH       -----------------------------------------------------------------
10.  Shared Dispositive Power                     
1,123,146                               
--------------------------------------------------------------------------------
11.  Aggregate Amount Beneficially Owned by Each Reporting Person               
1,123,146                                                             
--------------------------------------------------------------------------------
12.  Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares      
(See Instructions)                                               [_]  
--------------------------------------------------------------------------------
13.  Percent of Class Represented by Amount in Row (11)                         
10.2%(1)                                                              
--------------------------------------------------------------------------------
14.  Type of Reporting Person (See Instructions)                                
IN                                                                    
--------------------------------------------------------------------------------
______________________                                                          
(1) Based on 11,009,602 shares of Common Stock, par value $0.0001 per share, as 
reported in the Issuer's Quarterly Report on Form 10-QSB for the quarter period 
ended June 30, 2007 and Current Report on Form 8K dated August 16, 2007.        

3 


SC 13D/A4th Page of 7TOC1stPreviousNext↓BottomJust 4th

--------------------------------------------------------------------------------
1.   Name of Reporting Persons.                                                 
I.R.S. Identification Nos. of above persons (entities only).          

The Quercus Trust                                                     
--------------------------------------------------------------------------------
2.   Check the Appropriate Box If a Member of a Group (See Instructions)        
(a)  [X]                                                              
(b)  [_]                                                              
--------------------------------------------------------------------------------
3.   SEC Use Only                                                               

--------------------------------------------------------------------------------
4.   Source of Funds (See Instructions)                                         
PF                                                                    
--------------------------------------------------------------------------------
5.   Check If Disclosure of Legal Proceedings Is Required Pursuant to           
Items 2(d) or 2(e)                                             [_]    

--------------------------------------------------------------------------------
6.   Citizenship or Place of Organization                                       
U.S.                                                                  
--------------------------------------------------------------------------------
7.   Sole Voting Power                            
NUMBER OF         -0-                                                       
   SHARES      -----------------------------------------------------------------
BENEFICIALLY   8.   Shared Voting Power                                         
OWNED BY           1,123,146                                                  
    EACH       -----------------------------------------------------------------
REPORTING    9.   Sole Dispositive Power                                    
PERSON           -0-                                                      
    WITH       -----------------------------------------------------------------
10.  Shared Dispositive Power                     
1,123,146                               
--------------------------------------------------------------------------------
11.  Aggregate Amount Beneficially Owned by Each Reporting Person               
1,123,146                                                             
--------------------------------------------------------------------------------
12.  Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares      
(See Instructions)                                               [_]  
--------------------------------------------------------------------------------
13.  Percent of Class Represented by Amount in Row (11)                         
10.2(1)                                                               
--------------------------------------------------------------------------------
14.  Type of Reporting Person (See Instructions)                                
OO                                                                    
--------------------------------------------------------------------------------

____________________                                                            
(1) Based on 11,009,602 shares of Common Stock, par value $0.0001 per share, as 
reported in the Issuer's Quarterly Report on Form 10-QSB for the quarter period 
ended June 30, 2007 and Current Report on Form 8K dated August 16, 2007.        

4 


SC 13D/A5th Page of 7TOC1stPreviousNext↓BottomJust 5th

Item 1.                                                                         

      This Amendment No. 2 to Schedule 13D (this "Amendment No. 1") amends
and restates, where indicated, the statement on Schedule 13D relating to the    
Common Stock of the Issuer filed by The Quercus Trust, David Gelbaum and Monica 
Chavez Gelbaum (the "reporting persons") with the Securities and Exchange       
Commission on August 31, 2007 (the "Initial Schedule 13D"). Capitalized terms   
used in this Amendment No. 2 but not otherwise defined herein have the meanings 
given to them in the Initial Schedule 13D or prior amendments thereto.          

   This Amendment No. 2 is being made to disclose the acquisition of
additional shares (the "Shares") of Common Stock of the Issuer. Except as       
otherwise set forth herein, this Amendment No. 2 does not modify any of the     
information previously reported by the reporting persons in the Initial Schedule
13D or prior amendments thereto.                                                

Item 5.  Interest in Securities of the Issuer                                   

   (a) As of the date of this Amendment No. 2, each reporting person
beneficially owns 1,123,146 shares of Common Stock, which are held of record by 
the Trust.                                                                      

        (b) Each of David Gelbaum and Monica Chavez Gelbaum, acting alone, has
the power to exercise voting and investment control over the shares of Common   
Stock owned by the Trust.                                                       

        (c) Since September 10, 2007, the Trust has purchased shares of Common
Stock in brokered transactions as follows:                                      

          Date           Number of Shares      Price Per Share
          ----           ----------------      ---------------
     9/10/2007             32,547               $ 8.9787
     9/11/2007             35,000               $ 9.4891
     9/12/2007             55,000               $ 9.9121
     9/13/2007             33,000               $ 9.9298

(d) Not applicable.                                           

(e) Not applicable.                                           

Item 6.  Contracts, Arrangements, Understandings or Relationships With          
Respect to Securities of the Issuer                           

         Pursuant to the Power of Attorney filed as Exhibit "B" to Amendment No.
1 to Schedule 13D filed on August 24, 2007 with respect to the issuer Emcore    
Corp., David Gelbaum has been appointed as Monica Chavez Gelbaum's              
Attorney-In-Fact.                                                               

Item 7.  Material to Be Filed as Exhibits                                       

   Exhibit A: Agreement Regarding Joint Filing of Amendment No. 2 to
Schedule 13D.                                                                   


SC 13D/A6th Page of 7TOC1stPreviousNext↓BottomJust 6th

SIGNATURE                                                                       

      After reasonable inquiry and to the best of its knowledge and belief, each
of the undersigned certifies that the information set forth in this statement is
true, complete and correct and agrees that this statement may be filed jointly  
with the other undersigned parties.                                             

Dated:  September 15, 2007        /s/ David Gelbaum                             
                                  ----------------------------------------------
                                  David Gelbaum, Co-Trustee of The Quercus Trust

                              /s/ David Gelbaum, as Attorney-In-Fact for
         Monica Chavez Gelbaum
                                  ----------------------------------------------
                            Monica Chavez Gelbaum, Co-Trustee of The
 Quercus Trust

     /s/ David Gelbaum
                                  ----------------------------------------------
                                The Quercus Trust, David Gelbaum, Co-Trustee
        of The Quercus Trust


SC 13D/ALast Page of 7TOC1stPreviousNext↓BottomJust 7th

CUSIP No. 043635101                                                             

 EXHIBIT A

 AGREEMENT REGARDING JOINT FILING OF AMENDMENT NO. 2 TO SCHEDULE 13D

The undersigned agree that the Amendment No. 2 to Schedule 13D with 
respect to the Common Stock of Ascent Solar Technologies, Inc. is a joint filing
being made on their behalf.                                                     

Dated:  September 15, 2007        /s/ David Gelbaum                             
                                  ----------------------------------------------
                                  David Gelbaum, Co-Trustee of The Quercus Trust

                              /s/ David Gelbaum, as Attorney-In-Fact for
         Monica Chavez Gelbaum
                                  ----------------------------------------------
                            Monica Chavez Gelbaum, Co-Trustee of The
 Quercus Trust

     /s/ David Gelbaum
                                  ----------------------------------------------
                                The Quercus Trust, David Gelbaum, Co-Trustee
        of The Quercus Trust

Dates Referenced Herein   and   Documents Incorporated by Reference

Referenced-On Page
This ‘SC 13D/A’ Filing    Date First  Last      Other Filings
Filed as of:9/17/074,  SC 13D/A
9/15/0767
Filed on:9/14/074,  SC 13D/A
9/12/0714
9/10/075SC 13D/A
8/31/075SC 13D
8/24/0754,  SC 13D/A
8/16/07244,  8-K,  SC 13D
6/30/072410QSB
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