Registrant's telephone number, including area code: (720) 872-5000
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Former name or former address, if changed since last report
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Item 1.01
Entry into a Material Definitive Agreement.
On December 10, 2012, Ascent Solar Technologies, Inc. (the
Company) and TFG Radiant Investment Group Ltd. (TFGR) executed a services agreement. The agreement covers product design, product development and manufacturing coordination activities provided by TFGR to the Company in connection with the Company's new line of consumer electronics products. The services agreement has a one year term initially, and the services agreement may be terminated by either party upon 10 days prior written notice.
Under the services agreement, the Company will make certain quarterly cash payments of $200,000 to TFGR, for the services performed.
TFGR currently owns approximately 31% of the
Company's outstanding common stock.
TFGR is a joint venture of Radiant Group (www.sradiant.com), a Chinese conglomerate in construction and real estate, and Tertius Financial Group, a private investment firm based in Singapore.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
