<SEC-DOCUMENT>0001079973-25-001075.txt : 20250630
<SEC-HEADER>0001079973-25-001075.hdr.sgml : 20250630
<ACCEPTANCE-DATETIME>20250630102115
ACCESSION NUMBER:		0001079973-25-001075
CONFORMED SUBMISSION TYPE:	424B4
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250630
DATE AS OF CHANGE:		20250630

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ascent Solar Technologies, Inc.
		CENTRAL INDEX KEY:			0001350102
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				203672603
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B4
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-288300
		FILM NUMBER:		251089331

	BUSINESS ADDRESS:	
		STREET 1:		12300 GRANT STREET
		CITY:			THORNTON
		STATE:			CO
		ZIP:			80241
		BUSINESS PHONE:		(720) 872-5000

	MAIL ADDRESS:	
		STREET 1:		12300 GRANT STREET
		CITY:			THORNTON
		STATE:			CO
		ZIP:			80241
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B4
<SEQUENCE>1
<FILENAME>asti_424b4.htm
<DESCRIPTION>424B4
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Filed Pursuant to Rule 424(b)(4)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Registration No. 333-288300</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ASCENT SOLAR TECHNOLOGIES, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>507,000 SHARES OF COMMON STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AND 507,000 ACCOMPANYING WARRANTS TO PURCHASE UP
TO 507,000 SHARES OF COMMON STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>493,000 PRE-FUNDED WARRANTS TO PURCHASE UP TO 493,000
SHARES OF COMMON STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AND ACCOMPANYING WARRANTS TO PURCHASE UP TO 493,000
SHARES OF COMMON STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>70,000 PLACEMENT AGENT WARRANTS TO PURCHASE UP TO
70,000 SHARES OF COMMON STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>1,563,000 SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE
OF THE WARRANTS, PRE-FUNDED WARRANTS AND PLACEMENT AGENT WARRANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are offering 507,000 shares of common stock, par
value $0.0001 per share (the &ldquo;Common Stock&rdquo;), together with warrants to purchase up to 507,000 shares of common stock (the
&ldquo;Warrants&rdquo;), pursuant to this prospectus. The combined public offering price for each share of Common Stock, together with
an accompanying Warrant to purchase one (1) share of Common Stock, is $2.00. The shares of Common Stock and accompanying Warrants will
be separately issued, but the shares of Common Stock and accompanying Warrants will be issued to purchasers in the ratio of one-for-one
(1 for 1). Each Warrant will have an exercise price of $2.00 per share and will be exercisable upon issuance (the &ldquo;Initial Exercise
Date&rdquo;). The Warrants will expire on the five (5) year anniversary of the Initial Exercise Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are also offering 493,000 pre-funded warrants (the
&ldquo;Pre-Funded Warrants&rdquo;) to those purchasers whose purchase of shares of Common Stock in this offering would result in the purchaser,
together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%)
of our outstanding Common Stock following the consummation of this offering in lieu of the shares of our Common Stock that would result
in ownership in excess of 4.99% (or, at the election of the purchaser, 9.99%). Each Pre-Funded Warrant will be exercisable for one (1)
share of Common Stock at an exercise price of $0.0001 per share. Each Pre-Funded Warrant is being issued together with the same Warrants
described above being issued with each share of Common Stock. The combined public offering price for each such Pre-Funded Warrant, together
with an accompanying Warrant to purchase one (1) share of Common Stock, is $1.9999. Each Pre-Funded Warrant will be exercisable upon issuance
and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full. The Pre-Funded Warrants and accompanying
Warrants are immediately separable and will be issued separately in this offering, but the Pre-Funded Warrants and Warrants will be issued
to purchasers in the ratio of one-for-one (1 for 1). This prospectus also relates to the offering of the shares of Common Stock issuable
upon exercise of the Warrants, Pre-Funded Warrants and Placement Agent Warrants (as defined herein).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There is no established public trading market for
the Warrants or the Pre-Funded Warrants, and we do not expect a market to develop. We do not intend to apply for listing of the Warrants
or the Pre-Funded Warrants on any securities exchange or other nationally recognized trading system. Without an active trading market,
the liquidity of the Warrants and the Pre-Funded Warrants will be limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The securities will be offered at a fixed combined
public offering price and are expected to be issued in a single closing. We expect this offering to be completed on or about June 30,
2025, and we will deliver all securities to be issued in connection with this offering delivery versus payment/receipt versus payment
upon receipt by us of investor funds. Accordingly, neither we nor the Placement Agent (as defined below) have made any arrangements to
place investor funds in an escrow account or trust account since the Placement Agent will not receive investor funds in connection with
the sale of the securities offered hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have engaged H.C. Wainwright &amp; Co., LLC (the
&ldquo;Placement Agent&rdquo;), to act as our exclusive placement agent in connection with this offering. The Placement Agent has agreed
to use its reasonable best efforts to arrange for the sale of the securities offered by this prospectus. The Placement Agent is not purchasing
or selling any of the securities we are offering and the Placement Agent is not required to arrange the purchase or sale of any specific
number of securities or dollar amount. We have agreed to pay to the Placement Agent the Placement Agent fees set forth in the table below,
which assumes that we sell all of the securities offered by this prospectus. There is no minimum number of securities or amount of proceeds
required as a condition to closing in this offering. In addition, because there is no escrow trust or similar arrangement and no minimum
offering amount, investors could be in a position where they have invested in our company, but we are unable to fulfill all of our contemplated
objectives due to a lack of interest in this offering. Investors in this offering will not receive a refund in the event that we do not
sell an amount of securities sufficient to pursue our business goals described in this prospectus. Further, any proceeds from the sale
of securities offered by us will be available for our immediate use, despite uncertainty about whether we would be able to use such funds
to effectively implement our business plan. We will bear all costs associated with the offering. See &ldquo;<A HREF="#a_013">Plan of Distribution</A>&rdquo;
on page 23 of this prospectus for more information regarding these arrangements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our Common Stock is traded on the Nasdaq Capital Market
under the symbol &ldquo;ASTI.&rdquo; On June 26, 2025, the closing price for our Common Stock, as reported on the Nasdaq Capital Market,
was $2.84 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The combined public offering price per share of Common
Stock and accompanying Warrant and the combined public offering price per Pre-Funded Warrant and accompanying Warrant we are offering
and the exercise price and other terms of the Warrants were negotiated between us and the purchasers, in consultation with the Placement
Agent based on the trading of our Common Stock prior to this offering, among other factors. Other factors considered in determining the
offering price of the securities we are offering and the exercise price and other terms of the Warrants include the history and prospects
of our company, the stage of development of our business, our business plans for the future and the extent to which they have been implemented,
an assessment of our management, general conditions of the securities markets at the time of the offering and such other factors as were
deemed relevant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">You should read this prospectus, together with additional
information described under the headings &ldquo;<A HREF="#a_016">Information Incorporated by Reference</A>&rdquo; and &ldquo;<A HREF="#a_017">Where You Can Find More Information</A>&rdquo;
carefully before you invest in any of our securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 587.1pt 0 0">&nbsp;</P>


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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are a &ldquo;smaller reporting company&rdquo; as
defined under the federal securities laws and, as such, have elected to be subject to reduced public company reporting requirements. See
&ldquo;Prospectus Summary- Smaller Reporting Company Status.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 12pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Per
    Share and Accompanying Warrant</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Per
    Pre-Funded Warrant and Accompanying Warrant</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Total</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 55%; font-size: 10pt; text-align: left; padding-left: 1.25pt">Combined public off<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ering
    price</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.00</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.9999</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="width: 12%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,999,950.70</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 1.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Placement
    Agent fees(1)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.14</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.1400</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">140,000.00</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 1.25pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proceeds
    to us, before expenses(2)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.86</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.8599</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,859,950.70</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">__________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(1) Represents a cash fee equal to 7.0% of the aggregate
gross proceeds raised in this offering. In addition, we have also agreed to pay the Placement Agent a management fee equal to 1.0% of
the aggregate gross proceeds raised in this offering and to reimburse the Placement Agent for its legal fees and expenses and other out-of-pocket
expenses in an amount of up to $100,000. In addition, we have agreed to issue to the Placement Agent, or its designees, warrants (the
&ldquo;Placement Agent Warrants&rdquo;) as compensation in connection with this offering to purchase a number of shares of our Common
Stock equal to 7.0% of the aggregate number of shares of Common Stock and Pre-Funded Warrants being offered at an exercise price equal
to 125% of the combined public offering price per share of Common Stock and accompanying Warrant. See the section entitled &ldquo;Plan
of Distribution&rdquo; of this prospectus for a description of the compensation to be received by the Placement Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(2) Because there is no minimum number of securities
or amount of proceeds required as a condition to closing in this offering, the actual offering amount, Placement Agent fees, estimated
expenses and net proceeds to us, if any, are not presently determinable and may be substantially less than the total maximum offering
amounts set forth above. The amount of the proceeds to us presented in this table does not give effect to any exercise of the Warrants
or Placement Agent Warrants offered hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0">We anticipate that delivery of the securities against payment will be made
on or about June 30, 2025, subject to the satisfaction of customary closing conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Investing in our securities involves a high degree
of risk. Before buying any shares, you should carefully read the discussion of material risks of investing in our securities in &ldquo;Risk
Factors&rdquo; beginning on page 8 of this prospectus. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Neither the Securities and Exchange Commission
nor any state securities commission has approved or disapproved of these securities or passed on the adequacy or accuracy of this prospectus.
Any representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>H.C. Wainwright &amp; Co.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>The date of this prospectus is June 27, 2025 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">ii&nbsp;</FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Page</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="width: 90%; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_001">About this Prospectus</A></FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 10%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">iv</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_002">Prospectus Summary</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_003">Information Regarding Forward-Looking Statements</A></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_004">The Offering</A></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_005">Risk Factors</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_006">Market and Industry Data</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_007">Use of Proceeds</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_008">Market Price of and Dividends on Common Equity and Related Stockholders Matters</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_009">Dilution</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_010">Description of Capital Stock</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_011">Description of Securities We Are Offering</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_012">Shares Eligible for Future Sale</A></FONT></TD>
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_013">Plan of Distribution</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_014">Legal Matters</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_015">Experts</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_016">Information Incorporated by Reference</A></FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">27</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a_017">Where You Can Find More Information</A></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">28</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: center">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">iii&nbsp;</FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_001"></A><B>ABOUT THIS PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The registration statement of which this prospectus
forms a part that we filed with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) includes exhibits that provide more detail
of the matters discussed in this prospectus. You should read this prospectus and the related exhibits filed with the SEC, together with
the additional information described under the headings &ldquo;<A HREF="#a_017">Where You Can Find Additional Information</A>&rdquo; and &ldquo;<A HREF="#a_016">Information Incorporated by Reference</A>&rdquo; before making your investment decision. You should rely only on the information provided or incorporated
by reference in this prospectus, in any prospectus supplement or in a related free writing prospectus, or documents to which we otherwise
refer you. In addition, this prospectus contains summaries of certain provisions contained in some of the documents described herein,
but reference is made to the actual documents for complete information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This prospectus includes important information about
us, the securities being offered and other information you should know before investing in our securities. You should not assume that
the information contained in or incorporated by reference this prospectus is accurate on any date subsequent to the date set forth on
the front cover of this prospectus, even though this prospectus is delivered or securities are sold or otherwise disposed of on a later
date. It is important for you to read and consider all information contained or incorporated by reference in this prospectus in making
your investment decision. All of the summaries in this prospectus are qualified in their entirety by the actual documents. Copies of some
of the documents referred to herein have been filed, is filed or will be incorporated by reference as exhibits to the registration
statement of which this prospectus is a part, and you may obtain copies of those documents as described below under the heading &ldquo;<A HREF="#a_017">Where You Can Find Additional Information</A>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Neither we nor the Placement Agent has authorized
anyone to provide any information or to make any representations other than those contained in or incorporated by reference in this prospectus
or in any free writing prospectus prepared by or on behalf of us or to which we have referred you. We and the placement agent take no
responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. This prospectus
is an offer to sell only the securities offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so.
The information contained in or incorporated by reference in this prospectus or in any applicable free writing prospectus is current only
as of its date, regardless of its time of delivery or any sale of shares of our securities. Our business, financial condition, results
of operations and prospects may have changed since that date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">To the extent there is a conflict between the information
contained in this prospectus, on the one hand, and the information contained in any document incorporated by reference filed with the
Securities and Exchange Commission, or the SEC, before the date of this prospectus, on the other hand, you should rely on the information
in this prospectus. If any statement in a document incorporated by reference is inconsistent with a statement in another document incorporated
by reference having a later date, the statement in the document having the later date modifies or supersedes the earlier statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">No action is being taken in any jurisdiction outside
the United States to permit a public offering of our securities or possession or distribution of this prospectus in that jurisdiction.
Persons who come into possession of this prospectus in jurisdictions outside the United States are required to inform themselves about
and to observe any restrictions as to this public offering and the distribution of this prospectus applicable to that jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Unless otherwise indicated, information contained
in this prospectus concerning our industry and the markets in which we operate, including our general expectations and market position,
market opportunity and market share, is based on information from our own management estimates and research, as well as from industry
and general publications and research, surveys and studies conducted by third-parties. Management estimates are derived from publicly
available information, our knowledge of our industry and assumptions based on such information and knowledge, which we believe to be reasonable.
Our management estimates have not been verified by any independent source, and we have not independently verified any third-party information.
In addition, assumptions and estimates of our and our industry&rsquo;s future performance are necessarily subject to a high degree of
uncertainty and risk due to a variety of factors, including those described in &ldquo;<A HREF="#a_005">Risk Factors</A>.&rdquo; These and other factors could
cause our future performance to differ materially from our assumptions and estimates. See &ldquo;<A HREF="#a_005">Risk Factors</A>&rdquo; and &ldquo;<A HREF="#a_003">Information Regarding Forward-Looking Statements</A>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We further note that the representations, warranties
and covenants made by us in any agreement that is filed as an exhibit to the registration statement of which this prospectus is a part
were made solely for the benefit of the parties to such agreement, including, in some cases, for the purpose of allocating risk among
the parties to such agreements, and should not be deemed to be a representation, warranty or covenant to you. Moreover, such representations,
warranties or covenants were accurate only as of the date when made. Accordingly, such representations, warranties and covenants should
not be relied on as accurately representing the current state of our affairs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We may also provide a prospectus supplement or post-effective
amendment to the registration statement to add information to, or update or change information contained in, this prospectus. You should
read both this prospectus and any applicable prospectus supplement or post-effective amendment to the registration statement together
with the additional information to which we refer you in the sections of this prospectus entitled &ldquo;<A HREF="#a_017">Where You Can Find More Information.</A>&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">iv&nbsp;</FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<DIV STYLE="padding: 10pt; border: Black 0.5pt solid">

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A NAME="a_002"></A><B>PROSPECTUS
SUMMARY</B></FONT><FONT STYLE="font-size: 8pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>The following summary highlights information
contained elsewhere in this prospectus or incorporated by reference into this prospectus from our filings with the SEC listed in the
section entitled &ldquo;Information Incorporated by Reference.&rdquo; This summary is not complete and may not contain all the
information you should consider before investing in our securities. You should read this entire prospectus and the documents
incorporated by reference into this prospectus carefully, especially the risks of investing in our securities discussed under the
heading &ldquo;Risk Factors,&rdquo; and our financial statements and related notes incorporated by reference in this prospectus
before making an investment decision. Except as otherwise indicated herein or as the context otherwise requires, references in this
prospectus and the documents incorporated by reference in this prospectus to &ldquo;ASTI&rdquo;, &ldquo;Ascent&rdquo;, &ldquo;Ascent
Solar&rdquo;, &ldquo;the Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us&rdquo; and &ldquo;our&rdquo; refer to Ascent Solar
Technologies, Inc. This prospectus includes forward-looking statements that involve risks and uncertainties. See &ldquo;<A HREF="#a_003">Information
Regarding Forward-Looking Statements</A>.&rdquo;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>This prospectus includes trademarks, service marks
and trade names owned by us or other companies. All trademarks, service marks and trade names included in this prospectus are the property
of their respective owners.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Except as otherwise noted, all information in this
prospectus reflects and assumes (i) the full exercise of the Pre-Funded Warrants sold in this offering, and (ii) no exercise of the Warrants
issued in this offering.</I></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Overview</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We were incorporated in 2005 from the separation by
ITN Energy Systems, Inc. (&ldquo;ITN&rdquo;) of its Advanced Photovoltaic Division and all of that division&rsquo;s key personnel, core
technologies, and certain trade secrets and royalty free licenses to use in connection with the manufacturing, developing marketing, and
commercializing Copper-Indium-Gallium-diSelenide (&ldquo;CIGS&rdquo;) photovoltaic (&ldquo;PV&rdquo;) products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are a solar technology company that manufactures
and sells PV solar modules that are flexible, durable, and possess attractive power to weight and power to area performance. Our technology
provides renewable power solutions to high-value production and specialty solar markets where traditional rigid solar panels are not suitable,
including space power beaming, aerospace, satellites, near earth orbiting vehicles, fixed wing unmanned aerial vehicles (&ldquo;UAV&rdquo;),
and agrivoltaics. We operate in these target markets because they have highly specialized needs for power generation and offer attractive
pricing due to the significant technological requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We believe the value proposition of Ascent&rsquo;s
proprietary solar technology not only aligns with the needs of customers in our target markets, but also overcomes many of the obstacle&rsquo;s
other solar technologies face in space, aerospace and other markets. Ascent designs and develops finished products for end users in these
areas and collaborates with strategic partners to design and develop integrated solutions for products like satellites, spacecraft, airships
and UAV. Ascent sees significant overlap in the needs of end users across some of these markets and believes it can achieve economies
of scale in sourcing, development, and production in commercializing products for these customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The integration of Ascent's solar modules into space,
near space, and aeronautic vehicles with ultra-lightweight and flexible solar modules is an important market opportunity for the Company.
Customers in this market have historically required a high level of durability, high voltage and conversion efficiency from solar module
suppliers, and we believe our products are well suited to compete in this premium market and will fill a void in the satellite market
with a lower cost, lighter module and a product that, if struck by an object in space, will create limited space debris.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Commercialization and Manufacturing Strategy</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We manufacture our products by affixing a thin CIGS
layer to a flexible, plastic substrate using a large format, roll-to-roll process that permits us to fabricate our flexible PV modules
in an integrated sequential operation. We use proprietary monolithic integration techniques which enable us to form complete PV modules
with little to no costly back-end assembly of inter-cell connections. Traditional PV manufacturers assemble PV modules by bonding or soldering
discrete PV cells together. This manufacturing step typically increases manufacturing costs and, at times, proves detrimental to the overall
yield and reliability of the finished product. By reducing or eliminating this added step, using our proprietary monolithic integration
techniques, we believe we can achieve cost savings in, and increase the reliability of, our PV modules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

</DIV>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<DIV STYLE="padding: 10pt; border: Black 0.5pt solid">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Advantages of CIGS on a Flexible Plastic Substrate</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Thin film PV solutions differ based on the type of
semiconductor material chosen to act as a sunlight absorbing layer, and also on the type of substrate on which the sunlight absorbing
layer is affixed. To the best of our knowledge, we believe we are the only company in the world currently focused on commercial scale
production of PV modules using CIGS on a flexible, plastic substrate with monolithic integration. We utilize CIGS as a semiconductor material
because, at the laboratory level, it has a higher demonstrated cell conversion efficiency than amorphous silicon (&ldquo;a-Si&rdquo;)
and cadmium telluride (&ldquo;CdTe&rdquo;). We also believe CIGS offers other compelling advantages over both a-Si and CdTe, including:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 10pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>CIGS versus a-Si: </I> Although
a-Si, like CIGS, can be deposited on a flexible substrate, its conversion efficiency, which already is generally much lower than that
of CIGS, measurably degrades when it is exposed to ultraviolet light, including natural sunlight. To mitigate such degradation, manufacturers
of a-Si solar cells are required to implement measures that add cost and complexity to their manufacturing processes.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 10pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>CIGS versus CdTe: </I> Although
CdTe modules have achieved conversion efficiencies that are generally comparable to CIGS in production, we believe CdTe has never been
successfully applied to a flexible substrate on a commercial scale. We believe the use of CdTe on a rigid, transparent substrate, such
as glass, is unsuitable for a number of our applications. We also believe CIGS can achieve higher conversion efficiencies than CdTe in
production.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We also believe that, although over time, Gallium
Arsenide (&quot;GaSa&quot;) modules have achieved conversion efficiencies that are generally comparable to CIGS, GaSa is more expensive
than our CIGS products and that CIGS has a more advantageous weight per watt output when compared to GaSa.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We believe our choice of substrate material further
differentiates us from other thin-film PV manufacturers. We believe the use of a flexible, lightweight, insulating substrate that is easier
to install provides clear advantages for our target markets, especially where rigid substrates are unsuitable. We also believe our use
of a flexible, plastic substrate provides us significant cost advantages because it enables us to employ monolithic integration techniques
on larger components, which we believe are unavailable to manufacturers who use flexible, metal substrates. Accordingly, we are able to
significantly reduce part count, thereby reducing the need for costly back end assembly of inter cell connections. As the only company,
to our knowledge, focused on the commercial production of PV modules using CIGS on a flexible, plastic substrate with monolithic integration,
we believe we have the opportunity to address the aerospace, agrivoltaics and other weight-sensitive markets with transformational high
quality, value added product applications. It is these same unique features and our overall manufacturing process that enable us to produce
extremely robust, light and flexible products.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Competitive Strengths</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We believe we possess a number of competitive strengths
that provide us with an advantage over our competitors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We are a pioneer in CIGS technology with a proprietary, flexible, lightweight, high power PV thin film product that positions us to penetrate a wide range of attractive high value added markets such as aerospace, power beaming, and agrivoltaics. In addition, we have provided renewable power solutions for off grid, portable power, transportation, defense, and other markets.</I></B>&nbsp;&nbsp;By applying CIGS to a flexible plastic substrate, we have developed a PV module that is efficient, lightweight and flexible; with the highest power-to-weight ratio in at-scale commercially available solar. Relative to our thin film competitors, we believe our advantage in thin film CIGS on plastic technology provides us with a superior product offering for these strategic market segments.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We have the ability to manufacture PV modules for different markets and for customized applications without altering our production processes.</I></B>&nbsp;&nbsp;Our ability to produce PV modules in customized shapes and sizes, or in a variety of shapes and sizes simultaneously, without interrupting production flow, provides us with flexibility in addressing target markets and product applications, and allows us to respond quickly to changing market conditions. Many of our competitors are limited by their technology and/or their manufacturing processes to a more restricted set of product opportunities.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Our integrated, roll-to-roll manufacturing process and proprietary monolithic integration techniques provide us a potential cost advantage over our competitors.</I></B> Historically, manufacturers have formed PV modules by manufacturing individual solar cells and then interconnecting them. Our large format, roll-to-roll manufacturing process allows for integrated continuous production. In addition, our proprietary monolithic integration techniques allow us to utilize laser patterning to create interconnects, thereby creating PV modules at the same time we create PV cells. In so doing, we are able to reduce or eliminate an entire back end processing step, saving time as well as labor and manufacturing costs relative to our competitors.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<DIV STYLE="padding: 10pt; border: Black 0.5pt solid">

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Our lightweight, powerful, and durable solar panels provide a performance advantage over our competitors.</I></B>&nbsp;&nbsp;For applications where a premium is placed on the weight and profile of the product, our ability to integrate our PV modules into portable packages offers the customer a lightweight and durable solution.</FONT></TD></TR>
</TABLE><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Our proven research and development capabilities position us to continue the development of next generation PV modules and technologies.</I></B>&nbsp;&nbsp;Our ability to produce CIGS based PV modules on a flexible plastic substrate is the result of a concerted research and development effort that began more than 20 years ago. We continue to pursue research and development in an effort to drive efficiency improvements in our current PV modules and to work toward next generation technologies and additional applications.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Our manufacturing process can be differentiated into two distinct functions; a front-end module manufacturing process and a back-end packaging process.</I></B>&nbsp;&nbsp;Our ability to produce finished unpackaged rolls of CIGS material for shipment worldwide to customers for encapsulation and integration into various products enhances our ability to work with partners internationally and domestically.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;<B>Markets and Marketing Strategy</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We target high-value specialty solar markets including
space power beaming, aerospace, satellites, near earth orbiting vehicles, fixed wing UAV, and agrivoltaics applications. This strategy
enables us to fully leverage the unique advantages of our technology, including flexibility, durability and attractive power to weight
and power to area performance. We operate in these target markets because they have highly specialized needs for power generation and
offer attractive pricing due to the significant technological requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We believe the value proposition of Ascent&rsquo;s
proprietary solar technology not only aligns with the needs of customers in our target markets, but also overcomes many of the obstacle&rsquo;s
other solar technologies face in space, aerospace and other markets. Ascent designs and develops finished products for end users in these
areas and collaborates with strategic partners to design and develop integrated solutions for products like satellites, spacecraft, airships
and UAV. Ascent sees significant overlap in the needs of end users across some of these markets and believes it can achieve economies
of scale in sourcing, development, and production in commercializing products for these customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">ASTI is in early discussions with several satellite
companies, which could realize multiple sources of revenue. There is no assurance that these early discussions will ultimately lead to
significant new revenue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Product Update</B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 10pt 0 8pt; text-align: justify">The Company continues to focus on cell
and aerial efficiency improvements on our Copper-Indium-Gallium-diSelenide (&quot;CIGS&quot;)-based solar cells. With the incorporation
of Zn(O,S) as a buffer layer, the Company learned that reintroducing CdS as a combined hybrid buffer layer improved overall performance
and efficiencies by minimizing optical losses and improving overall short-circuit current and open-circuit voltages. These efforts resulted
in Ascent&rsquo;s engineering and production teams consistently achieving increases in device efficiency and overall performance since
September 2023. In the last 18 months, Ascent has reached significant milestones in efficiency testing, with the latest achievement of
15.7% representing a significant increase from Q1 2024:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Q3 2023: 11.6 watts</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin-top: 10pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Q4 2023: 13.3 watts</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin-top: 10pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Q1 2024: 14.0 watts</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin-top: 10pt; margin-bottom: 8pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Q2 2025: 15.7 watts</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 10pt 0 8pt; text-align: justify">The Company will continue to focus its
R&amp;D efforts on increasing aerial efficiencies and power to weight ratios in the AM0 spectrum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Due to the high durability enabled by the monolithic
integration employed by our technology, the capability to customize modules into different form factors and what we believe is the industry
leading light weight and flexibility provided by our modules, we believe that the potential applications for our products are extensive,
including integrated solutions anywhere that may need power generation such as power beaming solutions, vehicles in space or in flight
or dual-use installations on agricultural land.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Risks associated with our business</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Investing in our securities involves a high degree
of risk. You should carefully consider the risks described in &ldquo;<A HREF="#a_005">Risk Factors</A>&rdquo; beginning on page 8 before making a decision
to invest in our securities. If any of these risks actually occurs, our business, financial condition, results of operations and prospects
would likely be materially, adversely affected. In that event, the trading price of our common stock could decline, and you could lose
part or all of your investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Going Concern Opinion</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our working capital deficiency, stockholders&rsquo;
deficit, and recurring losses from operations raise substantial doubt about our ability to continue as a going concern. As a result, our
independent registered public accounting firm included an explanatory paragraph in its report on our financial statements for the year
ended December 31, 2024 with respect to this uncertainty. Our ability to continue as a going concern will require us to obtain additional
funding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Smaller Reporting Company Status</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are a &ldquo;smaller reporting company&rdquo; meaning
that the market value of our stock held by non-affiliates is less than $700 million and our annual revenue was less than $100 million
during the most recently completed fiscal year. We may continue to be a smaller reporting company if either (i) the market value of our
stock held by non-affiliates is less than $250 million or (ii) our annual revenue was less than $100 million during the most recently
completed fiscal year and the market value of our stock held by non-affiliates is less than $700 million. As a smaller reporting company,
we may rely on exemptions from certain disclosure requirements that are available to smaller reporting companies. Specifically, as a smaller
reporting company we may choose to present only the two most recent fiscal years of audited financial statements in our Annual Report
on Form 10-K and smaller reporting companies have reduced disclosure obligations regarding executive compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<DIV STYLE="padding: 10pt; border: Black 0.5pt solid">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have taken advantage of these reduced reporting
requirements in this prospectus and in the documents incorporated by reference into this prospectus. Accordingly, the information contained
herein may be different from the information you receive from other public companies that are not smaller reporting companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Our corporate information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We were incorporated under the laws of Delaware in
October 2005. Our principal business office is located at 12300 Grant Street, Thornton, Colorado 80241, and our telephone number is (720)
872-5000. Our website address is www.ascentsolar.com. Information contained on our website or any other website does not constitute, and
should not be considered, part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_003"></A>INFORMATION REGARDING FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This prospectus and the documents incorporated by
reference in this prospectus include forward-looking statements, which involve risks and uncertainties. These forward-looking statements
can be identified by the use of forward-looking terminology, including the terms &ldquo;believe,&rdquo; &ldquo;estimate,&rdquo; &ldquo;project,&rdquo;
&ldquo;anticipate,&rdquo; &ldquo;expect,&rdquo; &ldquo;seek,&rdquo; &ldquo;predict,&rdquo; &ldquo;continue,&rdquo; &ldquo;possible,&rdquo;
&ldquo;intend,&rdquo; &ldquo;may,&rdquo; &ldquo;might,&rdquo; &ldquo;will,&rdquo; &ldquo;could,&rdquo; would&rdquo; or &ldquo;should&rdquo;
or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters
that are not historical facts. They appear in a number of places throughout this prospectus and the documents incorporated by reference
in this prospectus, and include statements regarding our intentions, beliefs or current expectations concerning, among other things, our
product candidates, research and development, commercialization objectives, prospects, strategies, the industry in which we operate and
potential collaborations. We derive many of our forward-looking statements from our operating budgets and forecasts, which are based upon
many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact
of known factors, and, of course, it is impossible for us to anticipate all factors that could affect our actual results. Forward-looking
statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance
or results will be achieved. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this
prospectus may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Forward-looking statements speak only as of the date
of this prospectus. You should not put undue reliance on any forward-looking statements. We assume no obligation to update forward-looking
statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except
to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will
make additional updates with respect to those or other forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">You should read this prospectus, the documents incorporated
by reference in this prospectus, and the documents that we reference in this prospectus and have filed with the SEC as exhibits to the
registration statement of which this prospectus is a part with the understanding that our actual future results, levels of activity, performance
and events and circumstances may be materially different from what we expect. All forward-looking statements are based upon information
available to us on the date of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">By their nature, forward-looking statements involve
risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution
you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition,
business and prospects may differ materially from those made in or suggested by the forward-looking statements contained in this prospectus.
In addition, even if our results of operations, financial condition, business and prospects are consistent with the forward-looking statements
contained (or incorporated by reference) in this prospectus, those results may not be indicative of results in subsequent periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Forward-looking statements necessarily involve risks
and uncertainties, and our actual results could differ materially from those anticipated in the forward-looking statements due to several
factors, including those set forth below under &ldquo;Risk Factors&rdquo; and elsewhere in this prospectus. The factors set forth below
under &ldquo;Risk Factors&rdquo; and other cautionary statements made in this prospectus should be read and understood as being applicable
to all related forward-looking statements wherever they appear in this prospectus. The forward-looking statements contained in this prospectus
represent our judgment as of the date of this prospectus. We caution readers not to place undue reliance on such statements. Except as
required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, even if new information
becomes available or other events occur in the future. All subsequent written and oral forward-looking statements attributable to us or
persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained above and throughout this
prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">You should read this prospectus, the documents incorporated
by reference in this prospectus, and the documents that we reference in this prospectus and have filed as exhibits to the registration
statement of which this prospectus is a part completely and with the understanding that our actual future results may be materially different
from what we expect. We qualify all of our forward-looking statements by these cautionary statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_004"></A><B>THE OFFERING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 38%; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities we are offering</FONT></TD>
    <TD STYLE="width: 62%; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">507,000 shares of Common Stock, Pre-Funded Warrants to purchase up
to 493,000 shares of Common Stock and accompanying Warrants to purchase up to 1,000,000 shares of Common Stock. The shares of Common Stock,
or Pre-Funded Warrants, and in each case the accompanying Warrants will be separately transferable immediately upon issuance, but the
shares of Common Stock, or Pre-Funded Warrants, and in each case the accompanying Warrants will be issued to purchasers in the ratio of
one-for-one (1 for 1). There is no established trading market for the Warrants or the Pre-Funded Warrants, and we do not expect a market
to develop. In addition, we do not intend to apply for the listing of the Warrants or the Pre-Funded Warrants on any national securities
exchange or other trading market. Without an active trading market, the liquidity of the Warrants and Pre-Funded Warrants will be limited.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description of Warrants:</FONT></TD>
    <TD>
    <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0">Each Warrant will be exercisable for one (1) share of Common Stock,
will have an exercise price of $2.00 per share, and will be exercisable upon the Initial Exercise Date. The Warrants will expire on the
five (5) year anniversary of the Initial Exercise Date.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0">To better understand the terms of the Warrants, you should carefully read
    the &ldquo;<A HREF="#a_011">Description of Securities We Are Offering</A>&rdquo; section of this prospectus. You should also read the form of Warrant, which
    is filed as an exhibit to the registration statement that includes this prospectus. This prospectus also relates to the offering
    of the shares of Common Stock issuable upon exercise of the Warrants.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description of Pre-Funded Warrants:</FONT></TD>
    <TD>
    <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0">If the issuance of shares of our Common Stock to a purchaser in this
offering would result in such purchaser, together with its affiliates and certain related parties, beneficially owning more than 4.99%
(or, at the election of the purchaser, 9.99%) of our outstanding Common Stock following the consummation of this offering, then such purchaser
may purchase, if they so choose, in lieu of the shares of our Common Stock that would result in such excess ownership, a Pre-Funded Warrant
to purchase shares of our Common Stock for a purchase price per share of Common Stock issuable upon exercise of such Pre-Funded Warrant
equal to the per share combined public offering price for the Common Stock sold in this offering less $0.0001. Each Pre-Funded Warrant
will have an exercise price of $0.0001 per share, will be exercisable upon issuance and may be exercised at any time until all of the
Pre-Funded Warrants are exercised in full. Purchasers of Pre-Funded Warrants will also receive accompanying Warrants as if such purchasers
were buying shares of our Common Stock in this offering. This prospectus also relates to the offering of the shares of Common Stock issuable
upon exercise of these Pre-Funded Warrants.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0">To better understand the terms of the Pre-Funded Warrants, you should carefully
    read the &ldquo;<A HREF="#a_011">Description of Securities We Are Offering</A>&rdquo; section of this prospectus. You should also read the form of Pre-Funded
    Warrant, which is filed as an exhibit to the registration statement that includes this prospectus.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

</DIV>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 38%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description of Placement Agent Warrants:</FONT></TD>
    <TD STYLE="width: 62%">
    <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0">We have also agreed to issue to the Placement Agent or its designees
as compensation in connection with this offering, the Placement Agent Warrants to purchase up to&nbsp;70,000 shares of Common Stock. The
Placement Agent Warrants will be exercisable upon issuance and will have substantially the same terms as the Warrants, except that the
Placement Agent Warrants will have an exercise price of $2.50 per share (representing 125% of the combined public offering price per share
of Common Stock and accompanying Warrant) and a termination date that will be five (5) years from the commencement of the sales of securities
pursuant to this offering. See
    &ldquo;<A HREF="#a_013">Plan of Distribution</A>&rdquo; below.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
    <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0">To better understand the terms of the Placement
    Agent Warrants, you should carefully read the descriptions of the Placement Agent Warrants in the &ldquo;Description of Securities
    We Are Offering&rdquo; and &ldquo;Plan of Distribution&rdquo; sections of this prospectus. You should also read the form of
    Placement Agent Warrant, which is filed as an exhibit to the registration statement that includes this prospectus. This
    prospectus also relates to the offering of the shares of Common Stock issuable upon exercise of the Placement Agent Warrant.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common stock to be outstanding prior to this offering</FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">2,177,658 shares.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common stock to be outstanding after this offering</FONT></TD>
    <TD>
    <P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0">3,177,658 shares of Common Stock, assuming full exercise of the Pre-Funded
Warrants being issued in this offering and no exercise of the Warrants or Placement Agent Warrants being issued in this offering.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use of Proceeds</FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We estimate that the net proceeds of this offering, after deducting
Placement Agent fees and estimated offering expenses, will be approximately $1.6 million, assuming full exercise of the Pre-Funded Warrants
offered hereby and no exercise of the Warrants and Placement Agent Warrants.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We currently intend to use the net proceeds from this
    offering for working capital, product development activities, general and administrative expenses and other general corporate purposes.
    See &ldquo;<A HREF="#a_007">Use of Proceeds</A>.&rdquo;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nasdaq Capital Market Symbol</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our Common Stock is listed on The Nasdaq Capital Market under the symbol &ldquo;ASTI&rdquo;.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk Factors</FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Investing in our securities involves a high
    degree of risk. See &ldquo;<A HREF="#a_005">Risk Factors</A>&rdquo; beginning on page 8 of this prospectus for a discussion of factors you should
    carefully consider before deciding to invest in our securities.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

</DIV>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 38%">&nbsp;</TD>
    <TD STYLE="width: 62%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Best Efforts Offering</FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have agreed to offer and sell the securities offered
    hereby to the purchasers through the Placement Agent. The Placement Agent is not required to buy or sell any specific number or dollar
    amount of the securities offered hereby, but it will use its reasonable best efforts to solicit offers to purchase the securities offered
    by this prospectus. See &ldquo;<A HREF="#a_013">Plan of Distribution</A>&rdquo; on page  23 of this prospectus.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lock-up</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We, each of our officers and directors have agreed, subject to certain exceptions, not to sell, offer, agree to sell, contract to sell, hypothecate, pledge, grant any option to purchase, make any short sale of, or otherwise dispose of or hedge, directly or indirectly, any shares of our capital stock or any securities convertible into or exercisable or exchangeable for shares of capital stock, for a period of 90 days after the date of this prospectus, without the prior written consent of the placement agent. See &ldquo;<A HREF="#a_012">Shares Eligible for Future Sale</A>&rdquo; and &ldquo;<A HREF="#a_013">Plan of Distribution</A>&rdquo; for additional information.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The number of shares outstanding after this offering
is based on 2,177,658 shares of our common stock outstanding as of June 27, 2025, and excludes:&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 5%; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 90%; font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9 shares of our common stock reserved for issuance under outstanding restricted stock units (&ldquo;RSUs&rdquo;) granted as employment inducement award to our CEO,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">630,628 shares of our common stock reserved for issuance in connection with outstanding grants under our 2023 Equity Incentive Plan,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">102 shares of common stock reserved for issuance upon the exercise of outstanding common stock warrants, at an exercise price of $74,086 per share,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">85,543 shares of common stock reserved for issuance upon the exercise of outstanding common stock warrants, at an exercise price of $11.68 per share,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">43,044 shares of common stock reserved for issuance upon the exercise of outstanding common stock warrants, at an exercise price of $240.30 per share,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,292 shares of common stock reserved for issuance upon the exercise of outstanding common stock warrants, at an exercise price of $327.91 per share,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13,136 shares of common stock reserved for issuance upon the exercise of outstanding common stock warrants, at an exercise price of $14.60 per share,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">825,091 shares reserved for issuance upon the conversion of our outstanding shares of preferred stock,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24,400 shares of common stock reserved for issuance in connection with future grants that may be made under our 2023 Equity Incentive Plan, and </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt/105% Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">
    70,000 shares of common stock reserved for issuance upon the exercise of the placement agent&rsquo;s warrants to be issued in
    connection with this offering.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Except as otherwise indicated, all information in
this prospectus assumes no exercise of the outstanding warrants or options, no conversion of preferred stock, no shares of our Common
Stock are issued pursuant to outstanding RSUs and no shares of Common Stock or other awards are issued pursuant to our 2023 Equity Incentive
Plan described above. The discussion above assumes the full exercise of the Pre-Funded Warrants and no exercise of Warrants or Placement Agent Warrants
in this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_005"></A><B>RISK FACTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Investing in our securities involves a high degree
of risk. You should carefully consider the risks and uncertainties described below, together with those under the heading &ldquo;Risk
Factors&rdquo; in our most recent Annual Report on Form 10-K, which is incorporated by reference into this prospectus, as those risk factors
are amended or supplement by our subsequent filings with the SEC, together with all of the other information contained or incorporated
by reference in this prospectus, including our financial statements and the related notes, before deciding to invest in our securities.
The risks and uncertainties described below are not the only ones we face. Other sections of this prospectus may include additional factors
which could adversely affect our business, results of operations and financial performance. Additional risks and uncertainties that we
are unaware of, or that we currently believe are not material, may also become important factors that affect us. If any of the following
risks actually occurs, our business, financial condition, results of operations and prospects could be materially and adversely affected,
the trading price of our common stock could decline and you could lose all or part of your investment.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Risks Relating to Our Business</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Our continuing operations will require additional
capital which we may not be able to obtain on favorable terms, if at all, or without dilution to our stockholders.</B> Since inception,
we have incurred significant losses. We expect to continue to incur net losses in the near term. For the year ended December&nbsp;31,
2024, our cash used in operations was $8,423,569. At December&nbsp;31, 2024, we had cash and equivalents on hand of $3,170,743. For the
three months ended March 31, 2025, our cash used in operations was approximately $1.6 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We currently have limited industrial scale production
capacities and we continue to focus on research and development activities to improve our PV products. We do not expect that sales revenue
and cash flows will be sufficient to support operations and cash requirements until we have fully implemented our strategy of focusing
on high value PV products and manufacturing at full industrial scale. Product revenues did not result in a positive cash flow for the
2024 year and the quarter ended March 31, 2025, and are not anticipated to result in a positive cash flow for the next twelve months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0 8pt; text-align: justify">During 2024, we entered into multiple
financing agreements to fund operations, raising approximately $17.2 million in gross proceeds, of which $6.1 million was used to pay
down debt and repurchase fully ratcheting warrants. We do not expect that sales revenue and cash flows will be sufficient to support operations
and cash requirements for the foreseeable future, and we will depend on raising additional capital to maintain operations until we become
profitable. There is no assurance that we will be able to raise additional capital on acceptable terms or at all. If we raise additional
funds through the issuance of equity or convertible debt securities, the percentage ownership of our existing stockholders could be significantly
diluted, and these newly issued securities may have rights, preferences or privileges senior to those of existing stockholders. If we
raise additional funds through debt financing, which may involve restrictive covenants, our ability to operate our business may be restricted.
If adequate funds are not available or are not available on acceptable terms, if and when needed, our ability to fund our operations,
take advantage of unanticipated opportunities, develop or enhance our products, expand capacity or otherwise respond to competitive pressures
could be significantly limited, and our business, results of operations and financial condition could be materially and adversely affected.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We currently have limited committed sources of capital
and we have limited liquidity. Our cash and cash equivalents as of March 31, 2025 was $2.3 million. We expect our current cash and cash
equivalents will be sufficient to fund our operations into August 2025. Therefore, we will require substantial future capital in order
to continue operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Following the receipt of $1.6 million in net proceeds
from this offering, we believe our cash resources would be sufficient to fund our current operating plans into Q4 2025. We have based
these estimates, however, on assumptions that may prove to be wrong, and we could spend our available financial resources much faster
than we currently expect and need to raise additional funds sooner than we anticipate. If we are unable to raise additional capital when
needed or on acceptable terms, we would be forced to delay, reduce, or eliminate our technology development and commercialization efforts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Our auditors have expressed substantial doubt about
our ability to continue as a going concern.</B> Our auditors&rsquo; report on our December 31, 2024 financial statements expresses an
opinion that our capital resources as of the date of their audit report were not sufficient to sustain operations or complete our planned
activities for the year 2025 unless we raised additional funds. Additionally, as a result of the Company&rsquo;s recurring losses from
operations, and the need for additional financing to fund its operating and capital requirements, there is uncertainty regarding the Company&rsquo;s
ability to maintain liquidity sufficient to operate its business effectively, which raises doubt as to the Company&rsquo;s ability to
continue as a going concern. Management cannot provide any assurances that the Company will be successful in accomplishing any of its
plans. Our December 31, 2024 financial statements do not include any adjustments that might be necessary should the Company be unable
to continue as a going concern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>We have a limited history of operations, have not
generated significant revenue from operations and have had limited production of our products.</B> We have a limited operating history
and have generated limited revenue from operations. Currently we are producing products in quantities necessary to meet current demand.
Under our current business plan, we expect losses to continue until annual revenues and gross margins reach a high enough level to cover
operating expenses. Our ability to achieve our business, commercialization and expansion objectives will depend on a number of factors,
including whether:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We can generate customer acceptance of and demand for our products;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We successfully ramp up commercial production on the equipment installed;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our products are successfully and timely certified for use in our target markets;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We successfully operate production tools to achieve the efficiencies, throughput and yield necessary to reach our cost targets;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The products we design are saleable at a price sufficient to generate profits;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We raise sufficient capital to enable us to reach a level of sales sufficient to achieve profitability on terms favorable to us;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We are able to successfully design, manufacture, market, distribute and sell our products;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
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    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We effectively manage the planned ramp up of our operations;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We successfully develop and maintain strategic relationships with key partners, including OEMs, system integrators and distributors, who deal directly with end users in our target markets;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our ability to maintain the listing of our common stock on the Nasdaq Capital Market;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our ability to achieve projected operational performance and cost metrics;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our ability to enter into commercially viable licensing, joint venture, or other commercial arrangements; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The availability of raw materials.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Each of these factors is critical to our success and
accomplishing each of these tasks may take longer or cost more than expected or may never be accomplished. It also is likely that problems
we cannot now anticipate will arise. If we cannot overcome these problems, our business, results of operations and financial condition
could be materially and adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>We have to date incurred net losses and may be
unable to generate sufficient sales in the future to become profitable.</B> We incurred a net loss of $9,130,274 for the year ended December&nbsp;31,
2024 and reported an accumulated deficit of $491,608,710 as of December&nbsp;31, 2024. We incurred a net loss of $1,746,430 for the quarter
ended March 31, 2025 and reported an accumulated deficit of $493,283,006 as of March 31, 2025. We expect to incur net losses in the near
term. Our ability to achieve profitability depends on a number of factors, including market acceptance of our specialty PV products at
competitive prices. If we are unable to raise additional capital and generate sufficient revenue to achieve profitability and positive
cash flows, we may be unable to satisfy our commitments and may have to discontinue operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Risks Relating to our Securities and an Investment
in our Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Our stockholders may experience significant dilution
as a result of shares of our common stock that may be issued (i) upon the exercise of our outstanding common stock warrants, (ii) upon
the conversion of our convertible preferred stock, (iii) upon the sale of common stock using our at-the-market facility, and (iv) also
pursuant to new securities that we may issue in the future. </B>We may issue substantial amounts of additional common stock in connection
with the exercise or conversion of our outstanding common stock warrants, convertible preferred stock, and sale of common stock using
our at the market facility. See &ldquo;<A HREF="#a_010">Description of Capital Stock</A>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The at-the-market facility contains variable pricing
mechanisms. The number of shares that we will issue pursuant to these agreements, therefore, will fluctuate based on the price of our
common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>The price of our common stock may continue to be
volatile.</B> Our common stock is currently traded on the Nasdaq Capital Market. The trading price of our common stock from time to time
has fluctuated widely and may be subject to similar volatility in the future. For example, during the period from January 1, 2024 through
December 31, 2024, our common stock ranged from $2.255 to $85.30, and in 2023, our common stock ranged from $75.50 to $28,600 (all prices
as adjusted for our prior reverse stock splits). The trading price of our common stock in the future may be affected by a number of factors,
including events described in these Risk Factors. In recent years, broad stock market indices, in general, and smaller capitalization
and PV companies, in particular, have experienced substantial price fluctuations. In a volatile market, we may experience wide fluctuations
in the market price of our common stock. These fluctuations may have a negative effect on the market price of our common stock regardless
of our operating performance. In the past, following periods of volatility in the market price of a company&rsquo;s securities, securities
class action litigation has often been instituted. A securities class action suit against us could result in substantial costs, potential
liabilities and the diversion of management&rsquo;s attention and resources and could have a material adverse effect on our financial
condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>As a public company we are subject to complex legal
and accounting requirements that require us to incur substantial expenses, and our financial controls and procedures may not be sufficient
to ensure timely and reliable reporting of financial information, which, as a public company, could materially harm our stock price and
listing on Nasdaq Capital Market.</B> As a public company, we are subject to numerous legal and accounting requirements that do not apply
to private companies. The cost of compliance with many of these requirements is substantial, not only in absolute terms but, more importantly,
in relation to the overall scope of the operations of a small company. Failure to comply with these requirements can have numerous adverse
consequences including, but not limited to, our inability to file required periodic reports on a timely basis, loss of market confidence,
delisting of our securities and/or governmental or private actions against us. We cannot assure you we will be able to comply with all
of these requirements or the cost of such compliance will not prove to be a substantial competitive disadvantage vis-&agrave;-vis our
privately held and larger public competitors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Sarbanes-Oxley Act of 2002 (&ldquo;Sarbanes-Oxley&rdquo;)
requires, among other things, that we maintain effective internal control over financial reporting and disclosure controls and procedures.
In particular, we must perform system and process evaluation and testing of our internal control over financial reporting to allow management
to report on the effectiveness of our internal control over financial reporting, as required by Section 404 of Sarbanes-Oxley. Our compliance
with Section 404 of Sarbanes-Oxley will require we incur substantial accounting expense and expend significant management efforts. The
effectiveness of our controls and procedures may, in the future, be limited by a variety of factors, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Faulty human judgment and simple errors, omissions or mistakes;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fraudulent action of an individual or collusion of two or more people;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inappropriate management override of procedures; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The possibility that any enhancements to controls and procedures may still not be adequate to assure timely and accurate financial information.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If we are not able to comply with the requirements
of Section 404 in a timely manner, or if we or our independent registered public accounting firm, identifies deficiencies in our internal
control over financial reporting that are deemed to be material weaknesses, we may be subject to Nasdaq Capital market delisting, investigations
by the SEC and civil or criminal sanctions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our ability to successfully implement our business
plan and comply with Section 404 requires us to be able to prepare timely and accurate financial statements. We expect we will need to
continue to improve existing, and implement new operational, financial and accounting systems, procedures and controls to manage our business
effectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Any delay in the implementation of, or disruption
in the transition to, new or enhanced systems, procedures or controls may cause our operations to suffer, and we may be unable to conclude
that our internal control over financial reporting is effective as required under Section 404 of Sarbanes-Oxley. If we are unable to complete
the required Section 404 assessment as to the adequacy of our internal control over financial reporting, if we fail to maintain or implement
adequate controls, our ability to obtain additional financing could be impaired. In addition, investors could lose confidence in the reliability
of our internal control over financial reporting and in the accuracy of our periodic reports filed under the Securities Exchange Act of
1934, as amended (&ldquo;Exchange Act&rdquo;). A lack of investor confidence in the reliability and accuracy of our public reporting could
cause our stock price to decline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Our stockholders may experience significant dilution
as a result of shares of our common stock that may be issued (i) upon the exercise or conversion of our derivative securities including
convertible preferred stock and warrants, and (ii) pursuant to new securities that we may issue in the future<FONT STYLE="background-color: white">.
</FONT></B>We may issue substantial amounts of additional common stock in connection with the exercise or conversion of our derivative
securities including convertible preferred stock and warrants.</P>

<P STYLE="font: 10pt  Times New Roman, Times, Serif; margin: 10pt 0 8pt; text-align: justify">If we obtain additional financing involving
the issuance of equity securities or securities convertible or exercisable for equity securities, our existing stockholders&rsquo; investment
would be further diluted. Such dilution could cause the market price of our common stock to decline, which could impair our ability to
raise additional financing. Depending on market liquidity at the time, sales of such newly issued additional shares into the market may
cause the trading price of our common stock to fall.</P>

<P STYLE="font: 10pt  Times New Roman, Times, Serif; margin: 10pt 0 8pt; text-align: justify"><FONT STYLE="background-color: white">Depending
on market liquidity at the time, sales of such newly issued additional shares into the market may cause the trading price of our common
stock to fall.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Sales of a significant number of shares of our
common stock in the public markets or significant short sales of our stock, or the perception that such sales could occur, could depress
the market price of our common stock and impair our ability to raise capital.</B> Substantially all of our outstanding shares (and substantially
all of the shares underlying our outstanding derivative securities), unless held by our affiliates, may be resold in the public market
immediately without restriction. Shares held by our affiliates may be resold into the public market subject to compliance with the requirements
of the SEC&rsquo;s Rule 144.&nbsp; Sales of a substantial number of shares of our common stock or other equity-related securities in the
public markets could depress the market price of our common stock. If there are significant short sales of our stock, the price decline
that could result from this activity may cause the share price to decline more so, which, in turn, may cause long holders of the stock
to sell their shares, thereby contributing to sales of stock in the market. Such sales also may impair our ability to raise capital through
the sale of additional equity securities in the future at a time and price that our management deems acceptable, if at all.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="background-color: white"><B>W</B></FONT><B>e
may fail to continue to meet the listing standards of The Nasdaq Capital Market. Failure to maintain the listing of our common stock with
a U.S. national securities exchange could adversely affect the liquidity off our common stock. </B>Our common stock is currently listed
on The Nasdaq Capital Market. In order to maintain that listing, we must satisfy minimum financial and other continued listing requirements
and standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0 8pt; text-align: justify">During 2023 and 2024, the Company received
notices from Nasdaq indicating that the Company was not in compliance with (i) Nasdaq Listing Rule 5550(b)(1), which requires companies
listed on The Nasdaq Stock Market to maintain a minimum of $2,500,000 in stockholders&rsquo; equity for continued listing, and (ii) Nasdaq
Listing Rule 5550(a)(2) which requires companies listed on The Nasdaq Stock Market to maintain a minimum of a $1.00 bid price for continued
listing.</P>

<P STYLE="font: 10pt  Times New Roman, Times, Serif; margin: 10pt 0 8pt; text-align: justify">In September 2024, the Company received
written notice from Nasdaq indicating that the Company had regained compliance with the bid price requirement and the equity requirement.
The Company will be subject to a one year Nasdaq Listing Panel Monitor.&nbsp;</P>

<P STYLE="font: 10pt  Times New Roman, Times, Serif; margin: 10pt 0 8pt; text-align: justify">If we fail in the future to satisfy the
continued listing requirements of Nasdaq, Nasdaq may take steps to delist our securities. Such a delisting would likely have a negative
effect on the price and liquidity of our common stock and would impair your ability to sell or purchase our common stock when you wish
to do so. In the event of a delisting, we would take actions to restore our compliance with Nasdaq&rsquo;s listing requirements, but we
can provide no assurance that any such action taken by us would allow our common stock to become listed again, stabilize the market price
or improve the liquidity of our securities, prevent our common stock from dropping below the Nasdaq minimum share price requirement or
prevent future&nbsp;non-compliance&nbsp;with Nasdaq&rsquo;s listing requirements.</P>

<P STYLE="font: 10pt  Times New Roman, Times, Serif; margin: 10pt 0 8pt; text-align: justify">If our common stock were to be delisted
from Nasdaq, our common stock could begin to trade on one of the markets operated by OTC Markets Group, including OTCQX, OTCQB or OTC
Pink (formerly known as the &ldquo;pink sheets&rdquo;), as the case may be. In such event, our common stock could be subject to the &ldquo;penny
stock&rdquo; rules which, among other things, require brokers or dealers to approve investors&rsquo; accounts, receive written agreements
and determine investor suitability for transactions and disclose risks relating to investing in the penny stock market. Any such delisting
of our common stock could have an adverse effect on the market price of, and the efficiency of the trading market for our common stock,
not only in terms of the number of shares that can be bought and sold at a given price, but also through delays in the timing of transactions
and less coverage of us by securities analysts, if any. Also, if in the future we were to determine that we need to seek additional equity
capital, it could have an adverse effect on our ability to raise capital in the public or private equity markets. In addition, there can
be no assurance that our common stock would be eligible for trading on any such alternative exchange or markets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Delisting from Nasdaq could adversely affect our ability
to raise additional financing through public or private sales of equity securities, would significantly affect the ability of investors
to trade our securities and would negatively affect the value and liquidity of our common stock. Delisting could also have other negative
results, including the potential loss of confidence by employees, the loss of institutional investor interest and fewer business development
opportunities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Some provisions of our charter documents and Delaware
law may have anti-takeover effects that could discourage an acquisition of us by others, even if an acquisition would be beneficial to
our stockholders, and may prevent attempts by our stockholders to replace or remove our current management.</B> Provisions in our Certificate
of Incorporation and Bylaws, each as amended, as well as provisions of Delaware law, could make it more difficult for a third party to
acquire us, or for a change in the composition of our Board of Directors (our &ldquo;Board&rdquo;) or management to occur, even if doing
so would benefit our stockholders. These provisions include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorizing the issuance of &ldquo;blank check&rdquo; preferred stock, the terms of which may be established and shares of which may be issued without stockholder approval;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividing our Board into three classes;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Limiting the removal of directors by the stockholders; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Limiting the ability of stockholders to call a special meeting of stockholders.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, we are subject to Section 203 of the
Delaware General Corporation Law, which generally prohibits a Delaware corporation from engaging in any of a broad range of business combinations
with an interested stockholder for a period of three years following the date on which the stockholder became an interested stockholder,
unless such transactions are approved by our Board. This provision could have the effect of delaying or preventing a change of control,
whether or not it is desired by, or beneficial to, our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Risks Relating to this Offering</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>You will experience immediate dilution as a result
of this offering and may experience additional dilution in the future. </B>The public offering price for the shares offered hereby will
be substantially higher than the net tangible book value per share of our common stock as of March 31, 2025, immediately after this offering.
See the section entitled &ldquo;<A HREF="#a_009">Dilution</A>&rdquo; of this prospectus for a more detailed discussion of the dilution you will incur if you
purchase Common Stock or Pre-Funded Warrants in this offering. If you purchase securities in this offering, you will incur substantial
and immediate dilution in the net tangible book value of your investment. Net tangible book value per share represents the amount of total
tangible assets less total liabilities,  divided by the number of shares of our common stock then outstanding. To
the extent that warrants that are currently outstanding or that are issued in this offering are exercised, there will be further dilution
to your investment. We may also issue additional common stock, warrants, options and other securities in the future that may result in
further dilution of your shares of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Future sales of our common stock, or the perception
that such sales may occur, could depress the trading price of our common stock. </B>After the completion of this offering (and assuming full exercise
of the Pre-Funded Warrants sold in this offering and assuming that the Warrants and Placement Agent Warrants are not exercised), we expect
to have 3,177,658 shares of our common stock outstanding, which may be resold in the public market immediately after this offering. We
and all of our directors and executive officers have signed lock-up agreements for a period of 90 days following the date of this prospectus,
subject to specified exceptions. See &ldquo;<A HREF="#a_013">Plan of Distribution</A>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Placement Agent may, in its sole discretion and
without notice, release all or any portion of the shares of our common stock subject to&nbsp;lock-up&nbsp;agreements. As restrictions
on resale end, the market price of our common stock could drop significantly if the holders of these shares of our common stock sell them
or are perceived by the market as intending to sell them. These factors could also make it more difficult for us to raise additional funds
through future offerings of our common stock or other securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>The best efforts structure of this offering may
have an adverse effect on our business plan. </B>The Placement Agent is offering the securities in this offering on a best efforts basis.
The Placement Agent is not required to purchase any securities or arrange for the purchase or sale of any specific number or dollar amount
of the securities, but will use its best efforts to sell the securities offered. As a &ldquo;best efforts&rdquo; offering, there can be
no assurance that the offering contemplated hereby will ultimately be consummated or will result in any proceeds being made available
to us. Because there is no minimum offering amount required as a condition to the closing of this offering, the actual offering amount,
placement agent fees and proceeds to us are not presently determinable and may be substantially less than the maximum amounts set forth
herein. The success of this offering will impact our ability to use the proceeds to execute our business plan. We may have insufficient
capital to implement our business plan, potentially resulting in greater operating losses unless we are able to raise the required capital
from alternative sources. There is no assurance that alternative capital, if needed, would be available on terms acceptable to us, or
at all.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>We have broad discretion in the use of the net
proceeds we receive from this offering and may not use them effectively. </B>Our management will have broad discretion in the application
of the net proceeds we receive in this offering, including for any of the purposes described in the section entitled &ldquo;Use of Proceeds,&rdquo;
and you will not have the opportunity as part of your investment decision to assess whether our management is using the net proceeds appropriately.
Because of the number and variability of factors that will determine our use of our net proceeds from this offering, their ultimate use
may vary substantially from their currently intended use. The failure by our management to apply these funds effectively could result
in financial losses that could have a material adverse effect on our business and cause the price of our common stock to decline. Pending
their use, we may invest our net proceeds from this offering in short-term, investment-grade, interest-bearing securities. These investments
may not yield a favorable return to our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Financial Industry Regulatory Authority (&ldquo;FINRA&rdquo;)
sales practice requirements may limit a stockholder&rsquo;s ability to buy and sell our securities. </B>Effective June 30, 2020, the SEC
implemented Regulation Best Interest requiring that &ldquo;a broker, dealer, or a natural person who is an associated person of a broker
or dealer, when making a recommendation of any securities transaction or investment strategy involving securities (including account recommendations)
to a retail customer, shall act in the best interest of the retail customer at the time the recommendation is made, without placing the
financial or other interest of the broker, dealer, or natural person who is an associated person of a broker or dealer making the recommendation
ahead of the interest of the retail customer.&rdquo; This is a significantly higher standard for broker-dealers to recommend securities
to retail customers than before under FINRA &ldquo;suitability rules.&rdquo; FINRA suitability rules do still apply to institutional investors
and require that in recommending an investment to a customer, a broker-dealer must have reasonable grounds for believing that the investment
is suitable for that customer. Prior to recommending securities to their customers, broker-dealers must make reasonable efforts to obtain
information about the customer&rsquo;s financial status, tax status, investment objectives and other information, and for retail customers
determine the investment is in the customer&rsquo;s &ldquo;best interest&rdquo; and meet other SEC requirements. Both SEC Regulation Best
Interest and FINRA&rsquo;s suitability requirements may make it more difficult for broker-dealers to recommend that their customers buy
speculative, low-priced securities. They may affect investing in our Common Stock, which may have the effect of reducing the level of
trading activity in our securities. As a result, fewer broker-dealers may be willing to make a market in our Common Stock, reducing a
stockholder&rsquo;s ability to resell our Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Purchasers who purchase our securities in
this offering pursuant to a securities purchase agreement may have rights not available to purchasers that purchase without the
benefit of a securities purchase agreement.</B> In addition to rights and remedies available to all purchasers in this offering
under federal securities and state law, the purchasers that enter into a securities purchase agreement will also be able to bring
claims of breach of contract against us. The ability to pursue a claim for breach of contract provides those investors with the
means to enforce the covenants uniquely available to them under the securities purchase agreement including, but not limited to: (i)
timely delivery of shares; (ii) agreement to not enter into variable rate financings for one (1) year from closing,
subject to certain exceptions; (iii) agreement to not enter into any financings for 90 days from closing, subject to certain
exceptions; and (iv) indemnification for breach of contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>There is no public market for the Warrants and
Pre-Funded Warrants being offered in this offering.</B> There is no established public trading market for the Warrants and Pre-Funded
Warrants being offered in this offering, and we do not expect a market to develop. In addition, we do not intend to apply to list the
Warrants or Pre-Funded Warrants on any securities exchange or nationally recognized trading system, including The Nasdaq Capital Market.
Without an active market, the liquidity of the Warrants or Pre-Funded Warrants will be limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>The holders of Warrants and Pre-Funded Warrants
purchased in this offering will have no rights as common stockholders until such holders exercise their Warrants or Pre-Funded Warrants
and acquire shares of our Common Stock, except as set forth in the Warrants and Pre-Funded Warrants.</B> Until a holder of Warrants and
Pre-Funded Warrants acquires the shares of Common Stock upon exercise of the Warrants and Pre-Funded Warrants, as the case may be, such
holder will have no rights with respect to the shares of Common Stock underlying such Warrants and Pre-Funded Warrants, except as set
forth in the Warrants and Pre-Funded Warrants. Upon exercise of the Warrants and Pre-Funded Warrants, holders will be entitled to exercise
the rights of common stockholders only as to matters for which the record date occurs after the exercise date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>The Warrants and Pre-Funded Warrants are speculative
in nature.</B> The Warrants and Pre-Funded Warrants do not confer any rights of Common Stock ownership on their holders, such as voting
rights, but rather merely represent the right to acquire shares of Common Stock at a fixed price for a limited period of time. There can
be no assurance that the market price of the Common Stock will ever equal or exceed the exercise price of the Warrants, and consequently,
it may not ever be profitable for holders of the Warrants to exercise the Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_006"></A><B>MARKET AND INDUSTRY DATA</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Unless otherwise indicated, information contained
(or incorporated by reference) in this prospectus concerning our industry and the markets in which we operate is based on information
from independent industry and research organizations, other third-party sources and management estimates. Management estimates are derived
from publicly available information released by independent industry analysts and third-party sources, as well as data from our internal
research, and are based on assumptions made by us upon reviewing such data and our knowledge of such industry and markets which we believe
to be reasonable. Although we believe the data from these third-party sources is reliable, we have not independently verified any third-party
information. In addition, projections, assumptions and estimates of the future performance of the industry in which we operate and our
future performance are necessarily subject to uncertainty and risk due to a variety of factors, including those described in &quot;Risk
Factors&quot; and &quot;Information Regarding Forward-Looking Statements.&quot; These and other factors could cause results to differ
materially from those expressed in the estimates made by the independent parties and by us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_007"></A><B>USE OF PROCEEDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We estimate that the net proceeds from this offering
will be approximately $1.6 million, after deducting the Placement Agent&rsquo;s fees and estimated offering expenses payable by us, and
assuming full exercise of the Pre-Funded Warrants in this offering and no exercise of the Warrants or Placement Agent Warrants being issued
in this offering. However, because this is a reasonable best efforts offering and there is no minimum offering amount required as a condition
to the closing of this offering and we may not sell all or any of these securities offered pursuant to this prospectus, the actual offering
amount, the Placement Agent&rsquo;s fees and net proceeds to us are not presently determinable and may be substantially less than the
maximum amounts set forth on the cover page of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These estimates exclude the proceeds, if any, from
the exercise of the Warrants issued in this offering. If all of the Warrants issued in this offering were to be exercised in cash at an
exercise price of $2.00 per share of Common Stock, we would receive additional proceeds of approximately $2.0 million. We cannot predict
when or if these Warrants will be exercised. It is possible that these Warrants may expire and may never be exercised. Additionally, the
Warrants contain a cashless exercise provision that permit exercise of Warrants on a cashless basis at any time where there is no effective
registration statement under the Securities Act covering the issuance of the underlying shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These estimates also exclude the proceeds, if any,
from the exercise of the Placement Agent Warrants issued in this offering. If all of the Placement Agent Warrants issued in this offering
were to be exercised in cash at an exercise price of $2.50 per share of Common Stock, we would receive additional proceeds of approximately
$175,000. We cannot predict when or if these Placement Agent Warrants will be exercised. It is possible that these Placement Agent Warrants
may expire and may never be exercised. Additionally, the Placement Agent Warrants contain a cashless exercise provision that permit exercise
of Placement Agent Warrants on a cashless basis at any time where there is no effective registration statement under the Securities Act
covering the issuance of the underlying shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We intend to use the net proceeds from this offering,
together with our existing cash, for working capital, product development activities, general and administrative expenses and other general
corporate purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our expected use of net proceeds from this offering
represents our current intentions based upon our present plans and business condition. As of the date of this prospectus, we cannot predict
with complete certainty all of the particular uses for the net proceeds to be received upon the completion of this offering or the actual
amounts that we will spend on the uses set forth above. We believe opportunities may exist from time to time to expand our current business
through the acquisition or in-license of complementary product candidates. While we have no current agreements for any specific acquisitions
or in-licenses at this time, we may use a portion of the net proceeds for these purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pending the uses described above, we plan to invest
the net proceeds from this offering in short- and intermediate-term, interest-bearing obligations, investment-grade instruments, certificates
of deposit or direct or guaranteed obligations of the U.S. government.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_008"></A><B>MARKET PRICE OF AND DIVIDENDS ON COMMON EQUITY AND
RELATED STOCKHOLDER MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0 8pt; text-align: justify"><B>Market Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 24, 2022, our common stock began trading
on the Nasdaq Capital Market. Our trading symbol is &ldquo;ASTI.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0 8pt; text-align: justify"><B>Holders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of June 27, 2025, the number of record holders
of our common stock was 39. Because many of our shares of common stock are held by brokers and other institutions on behalf of stockholders,
we are unable to estimate the total number of stockholders represented by these record holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0 8pt; text-align: justify"><B>Dividends</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The holders of common stock are entitled to receive
such dividends as may be declared by our Board of Directors. During the years ended December 31, 2024 and 2023, we did not pay any common
stock dividends, and we do not expect to declare or pay any dividends in the foreseeable future. Payment of future dividends will be within
the discretion of our Board of Directors and will depend on, among other factors, our retained earnings, capital requirements, and operating
and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_009"></A><B>DILUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Except as otherwise noted, all information in this
prospectus reflects and assumes (i) full exercise of the Pre-Funded Warrants sold in this offering and (ii) no exercise of the Warrants
or Placement Agent Warrants issued in this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If you invest in this offering, your ownership interest
will be diluted to the extent of the difference between the public offering price per share of Common Stock and accompanying Warrant and
the pro forma as adjusted net tangible book value per share of our common stock immediately after this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Historical net tangible book value (deficit) per share
is determined by dividing our total tangible assets less our total liabilities by the total number of shares of common stock outstanding.
Our historical net tangible book value as of March 31, 2025, was approximately $0.8 million, or $0.47 per share, based on 1,705,977 shares
of common stock outstanding as of that date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our pro forma net tangible book value as
of March 31, 2025, was $1.9 million, or $0.87 per share, based on the total number of shares of our common stock outstanding as of March
31, 2025. Pro forma net tangible book value per share is determined by dividing our total tangible assets, less total liabilities, by
the number of shares of our common stock outstanding as of March 31, 2025, after giving effect to the issuance of 471,674 shares of our
common stock subsequent to March 31, 2025, for net proceeds of $1.1 million pursuant to our &ldquo;at-the-market&rdquo; offering program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">After
giving further effect to the sale of 507,000 shares of our Common Stock, 493,000 Pre-Funded Warrants and accompanying Warrants to purchase
up to 1,000,000 shares of our Common Stock at the public offering price of $2.00 per share of Common Stock and accompanying Warrant, assuming
full exercise of the Pre-Funded Warrants sold in this offering, and after deducting the estimated Placement Agent fees and estimated offering
expenses payable by us, and excluding the proceeds, if any, from the exercise of the Warrants and Placement Agent Warrants issued in this
offering, our pro forma as adjusted net tangible book value as of March 31, 2025 would have been approximately $3.5 million, or approximately
$1.11 per share. This represents an immediate increase in the net tangible book value to existing stockholders of $0.24 per share and
an immediate dilution in the pro forma as adjusted net tangible book value of $0.89 per share of our Common Stock to the investors purchasing
securities in this offering.</FONT><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table illustrates this dilution per
share:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 12pt Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; font: 10pt Times New Roman, Times, Serif; text-align: left">Public offering price per share and accompanying warrant</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 11pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 12%; font: 11pt Times New Roman, Times, Serif; text-align: right">2.00</TD><TD STYLE="width: 1%; font: 11pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Historical net tangible book value per share as of March 31, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0.47</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Pro Forma increase in net tangible book value per share of as of March 31, 2025 attributable to the pro forma transactions described above</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">0.40</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Pro forma net tangible book value as of March 31, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0.87</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Increase in net tangible book value per share attributable to new investors participating in this offering</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">0.24</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Pro forma as adjusted net tangible book value per share after this offering</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1.11</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Dilution per share to new investors participating in this offering</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">0.89</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The foregoing table and calculations (other than the
historical net tangible book value calculation) are based on 1,705,977 shares of common stock outstanding as of March 31, 2025, and excludes:</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9 shares of our common stock reserved for issuance under outstanding restricted stock units (&ldquo;RSUs&rdquo;) granted as employment inducement award to our CEO,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">630,628 shares of our common stock reserved for issuance in connection with outstanding grants under our 2023 Equity Incentive Plan,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">102 shares of common stock reserved for issuance upon the exercise of outstanding common stock warrants, at an exercise price of $74,086 per share,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">85,543 shares of common stock reserved for issuance upon the exercise of outstanding common stock warrants, at an exercise price of $11.68 per share,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">43,044 shares of common stock reserved for issuance upon the exercise of outstanding common stock warrants, at an exercise price of $240.30 per share,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,292 shares of common stock reserved for issuance upon the exercise of outstanding common stock warrants, at an exercise price of $327.91 per share,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 105%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">13,136 shares of common stock reserved for issuance upon the exercise of outstanding common stock warrants, at an exercise price of $14.60 per share,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 105%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">825,091 shares reserved for issuance upon the conversion of our outstanding preferred stock</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 105%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">471,674 shares reserved for issuance upon the sale of common stock on an at the market facility,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 105%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">24,400 shares of common stock reserved for issuance in connection with future grants that may be made under our 2023 Equity Incentive Plan,&nbsp;and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 105%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 105%">70,000
    shares of common stock reserved for issuance upon the exercise of the placement agent&rsquo;s warrants to be issued in connection
    with this offering.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The discussion and table above assume of the full
exercise of the Pre-Funded Warrants, , and no exercise of any Warrants or Placement Agent Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_010"></A>DESCRIPTION OF CAPITAL STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>The following summary describes our common stock and the material
provisions of our certificate of incorporation and our bylaws, each of which are incorporated by reference to the registration statement
of which this prospectus forms a part, and of the Delaware General Corporation Law (the &ldquo;DGCL&rdquo;). Because the following is
only a summary, it does not contain all of the information that may be important to you. For a complete description, you should refer
to our certificate of incorporation and bylaws. We encourage you to read those documents and the DGCL carefully</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0; text-align: justify"><B>Authorized Capital Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">Our authorized capital stock consists of 200,000,000
shares of common stock, par value $0.0001 per share, and 25,000,000 shares of preferred stock, par value $0.0001 per share, of which 750,000
have been designated Series A preferred stock and 4,000 have been designated Series 1C preferred stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">The authorized but unissued shares of common
and preferred stock are available for future issuance without stockholder approval, unless otherwise required by law or applicable stock
exchange rules. Additional authorized but unissued shares may be used for a variety of corporate purposes, including future public offerings
to raise additional capital, corporate acquisitions and employee benefit plans. The existence of authorized but unissued shares could
hinder or discourage an attempt to obtain control of us by means of a proxy contest, tender offer, merger or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0"><B>Outstanding Capital Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify">As of June 27, 2025, the Company had issued
and outstanding 2,177,658 shares of common stock, 48,100 shares of Series A preferred stock and 815 shares of Series 1C preferred stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Series A Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Rank</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Series A preferred stock ranks pari passu to the
common stock with respect to dividends and rights upon liquidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Voting Rights</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Except as otherwise required by law (or with respect
to approval of certain actions), the Series A preferred stock shall have no voting rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Dividends</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0 0; text-align: justify">Holders of Series A preferred stock are entitled
to cumulative dividends at a rate of 8% per annum when and if declared by the Board of Directors at its sole discretion. The dividends
may be paid in cash or in the form of common stock (valued at 10% below market price, but not to exceed the lowest closing price during
the applicable measurement period), at the discretion of the Board of Directors. The dividend rate on the Series A Preferred Stock is
indexed to the Company's stock price and subject to adjustment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Conversion and Redemption Rights</I></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 12pt 0 8pt; text-align: justify">The Series A Preferred Stock may be
converted into shares of common stock at the option of the Company if the closing price of the common stock exceed<FONT STYLE="background-color: white">s
$23.2 billion, adjusted for reverse stock splits, for twenty consecutive trading days, or by the holder at any time. The Company has the
right t</FONT>o redeem the Series A Preferred Stock at a price of $8.00 per share, plus any accrued and unpaid dividends, plus the make-whole
amount (if applicable). At March&nbsp;31, 2025, the preferred shares were not eligible for conversion to common shares at the option of
the Company. The holder of the preferred shares may convert to common shares at any time. After making adjustment for the Company&rsquo;s
prior reverse stock splits, all 48,100 outstanding Series A preferred shares are convertible into less than one common share. Upon any
conversion (whether at the option of the Company or the holder), the holder is entitled to receive any accrued but unpaid dividends.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Liquidation Value</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0 0; text-align: justify">Upon any liquidation, dissolution or winding
up of the Company, after payment or provision for payment of debts and other liabilities of the Company, the holders of Series A preferred
stock shall be entitled to receive, pari passu with any distribution to the holders of common stock of the Company, an amount equal to
$8.00 per share of Series A preferred stock plus any accrued and unpaid dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Series 1C Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Rank</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Series 1C preferred stock ranks senior to the
common stock with respect to dividends and rights upon liquidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Voting Rights</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="background-color: white">On any matter
presented to the stockholders of the Company for their action or consideration at any meeting of stockholders of the Company (or by written
consent of stockholders in lieu of meeting), each holder of outstanding shares of Series 1C Preferred Stock shall be entitled to cast
the number of votes equal to the number of whole shares of common stock into which the outstanding shares of Series 1C Preferred Stock
held by such holder are convertible as of the record date (but only after giving effect to the maximum percentage conversion limitations
referred to above). Except as provided by law or by the other provisions of the Series 1C Preferred Stock, holders of Series 1C Preferred
Stock shall vote together with the holders of common stock as a single class and on an as-converted to common stock basis.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Dividends</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="background-color: white"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="background-color: white">Holders of the
Series 1C Preferred Stock are entitled to dividends on the per share stated value of $1,000 in the amount of 10% per annum, payable quarterly.
The dividend rate will increase to 15% if any of the Series 1C Preferred Stock remains outstanding on or after October 17, 2027. Unless
the Company elects to pay dividends on the Series 1C Preferred Stock in cash, the Company will cumulate the dividends, in which case the
accrued dividend amount shall be added to the stated value of each share of Series 1C Preferred Stock. The Company recorded accrued dividends
of $86,369 as of March 31, 2025.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="background-color: white"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Conversion Rights</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="background-color: white">The Series 1C
Preferred Stock is convertible into common stock at any time after April 17, 2025 at the option of the holder at an initial fixed conversion
price of $2.50 per share of common stock; however, the holder may not convert any portion to the extent that the holder would beneficially
own more than 4.99% of the Company's outstanding shares of Common Stock outstanding immediately after giving effect to the conversion.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Redemption</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="background-color: white">If at any time
the closing sale price of the Company&rsquo;s common stock equals at least 300% of the conversion price for the most recent 20 consecutive
trading days, the Company shall have the right to redeem all, but not less than all, of the Series 1C Preferred Stock then outstanding
in cash at a price equal to 110% of the stated value of the shares being redeemed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Liquidation Value</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="background-color: white">Upon our liquidation,
dissolution or winding up, holders of Series 1C Preferred Stock shall be entitled to receive in cash out of the assets of the Company,
before any amount shall be paid to the holders of any of shares of common stock, an amount per share of Series 1C Preferred Stock equal
to the greater of (A) 110% of the stated value of such preferred share and (B) the amount per share such holder would receive if such
holder converted such preferred share into common stock immediately prior to the date of such payment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The holders of our common stock are entitled to one
vote for each share held on all matters submitted to a vote of the stockholders. The holders of our common stock do not have any cumulative
voting rights. Holders of our common stock are entitled to receive ratably any dividends <FONT STYLE="background-color: white">declared</FONT>
by our board of directors out of funds legally available for that purpose, subject to any preferential dividend rights of any outstanding
preferred stock. Our common stock has no preemptive rights, conversion rights or other subscription rights or redemption or sinking fund
provisions.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the event of our liquidation, dissolution or winding
up, holders of our common stock will be entitled to share ratably in all assets remaining after payment of all debts and other liabilities
and any liquidation preference of any outstanding preferred stock. Each outstanding share of common stock is duly and validly issued,
fully paid and non-assessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our board is authorized by our charter to establish
classes or series of preferred stock and fix the designation, powers, preferences and rights of the shares of each such class or series
and the qualifications, limitations or restrictions thereof without any further vote or action by our stockholders. Any shares of preferred
stock so issued could have priority over our common stock with respect to dividend or liquidation rights. Any future issuance of preferred
stock may have the effect of delaying, deferring or preventing a change in our control without further action by our stockholders and
may adversely affect the voting and other rights of the holders of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The issuance of shares of preferred stock, or the
issuance of rights to purchase such shares, could be used to discourage an unsolicited acquisition proposal. For instance, the issuance
of a series of preferred stock might impede a business combination by including class voting rights that would enable a holder to block
such a transaction. In addition, under certain circumstances, the issuance of preferred stock could adversely affect the voting power
of holders of our common stock. Although our board is required to make any determination to issue preferred stock based on its judgment
as to the best interests of our stockholders, our board could act in a manner that would discourage an acquisition attempt or other transaction
that some, or a majority, of our stockholders might believe to be in their best interests or in which such stockholders might receive
a premium for their stock over the then market price of such stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Anti-Takeover Effects of Certain Provisions of
Delaware Law and Our Certificate of Incorporation and Bylaws</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our charter and bylaws contain a number of provisions
that could make our acquisition by means of a tender or exchange offer, a proxy contest or otherwise more difficult. These provisions
are summarized below.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><I>Board Composition; Removal of Directors and Filling Board
Vacancies</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our charter provides that stockholders may remove
directors only for cause and only by the affirmative vote of the holders of at least a majority of the shares entitled to vote at an election
of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our bylaws authorize only our board of directors to
fill vacant directorships, including newly created seats. In addition, the number of directors constituting our board of directors may
only be set by a resolution adopted by a majority vote of our entire board of directors. These provisions would prevent a stockholder
from increasing the size of our board of directors and then gaining control of our board of directors by filling the resulting vacancies
with its own nominees. This makes it more difficult to change the composition of our board of directors but promotes continuity of management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><I>Staggered Board</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our Board is divided into three classes, with one
class of directors elected at each year's annual stockholders meeting. Staggered terms tend to protect against sudden changes in management
and may have the effect of delaying, deferring or preventing a change in our control without further action by our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><I>Advance Notice Requirements</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our bylaws provide advance notice procedures for stockholders
seeking to bring matters before our annual meeting of stockholders or to nominate candidates for election as directors at our annual meeting
of stockholders. Our bylaws also specify certain requirements regarding the form and content of a stockholder&rsquo;s notice. These provisions
might preclude our stockholders from bringing matters before our annual meeting of stockholders or from making nominations for directors
at our annual meeting of stockholders if the proper procedures are not followed. We expect that these provisions might also discourage
or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer&rsquo;s own slate of directors or otherwise
attempting to obtain control of our company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><I>Special Meetings</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our bylaws provide that special meetings of stockholders
may only be called at the request of a majority of the board, and only those matters set forth in the notice of the special meeting may
be considered or acted upon at a special meeting of stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><I>Undesignated Preferred Stock</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our charter provides for 25,000,000 authorized shares
of preferred stock. The existence of authorized but unissued shares of preferred stock may enable our board to discourage an attempt to
obtain control of us by means of a merger, tender offer, proxy contest or otherwise. For example, if in the due exercise of its fiduciary
obligations, our board of directors were to determine that a takeover proposal is not in the best interests of our stockholders, our board
could cause shares of convertible preferred stock to be issued without stockholder approval in one or more private offerings or other
transactions that might dilute the voting or other rights of the proposed acquirer or insurgent stockholder or stockholder group. In this
regard, our charter grants our board broad power to establish the rights and preferences of authorized and unissued shares of preferred
stock. The issuance of shares of preferred stock could decrease the amount of earnings and assets available for distribution to holders
of shares of common stock. The issuance may also adversely affect the rights and powers, including voting rights, of these holders and
may have the effect of delaying, deterring or preventing a change in control of us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><I>Delaware Anti-Takeover Statute</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are subject to the provisions of Section 203 of
the DGCL. In general, Section 203 prohibits a publicly held Delaware corporation from engaging in a &ldquo;business combination&rdquo;
with an &ldquo;interested stockholder&rdquo; for a three-year period following the time that this stockholder becomes an interested stockholder,
unless the business combination is approved in a prescribed manner. Under Section 203, a business combination between a corporation and
an interested stockholder is prohibited unless it satisfies one of the following conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; padding-bottom: 8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-bottom: 8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">&bull;</FONT></TD>
    <TD STYLE="width: 88%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">before the stockholder became interested, our board approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">&bull;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding, shares owned by persons who are directors and also officers, and employee stock plans, in some instances, but not the outstanding voting stock owned by the interested stockholder; or</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">&bull;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">at or after the time the stockholder became interested, the business combination was approved by our board and authorized at an annual or special meeting of the stockholders by the affirmative vote of at least two-thirds of the outstanding voting stock which is not owned by the interested stockholder.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">Section 203 defines a business combination to include:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 9%; padding-bottom: 8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-bottom: 8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">&bull;</FONT></TD>
    <TD STYLE="width: 87%; padding-bottom: 8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">any merger or consolidation involving the corporation and the interested stockholder;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">&nbsp;</FONT>&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">&bull;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">any sale, transfer, lease, pledge, exchange, mortgage or other disposition involving the interested stockholder of 10% or more of the assets of the corporation;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">&bull;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">subject to exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder; or</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">&nbsp;</FONT>&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">&bull;</FONT></TD>
    <TD STYLE="padding-bottom: 8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">In general, Section 203 defines an interested stockholder as
any entity or person beneficially owning 15% or more of the outstanding voting stock of the corporation and any entity or person affiliated
with or controlling or controlled by the entity or person.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Transfer Agent and Registrar</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The transfer agent and registrar of our common stock
is Computershare Investor Services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_011"></A><B>DESCRIPTION OF SECURITIES WE ARE OFFERING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are offering 507,000 shares of Common Stock, together
with Warrants to purchase up to 1,000,000 shares of Common Stock. We are also offering Pre-Funded Warrants to purchase up to 493,000 shares
of Common Stock to those purchasers, whose purchase of shares of Common Stock in this offering would result in the purchaser, together
with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%) of
our outstanding Common Stock following the consummation of this offering in lieu of the shares of our Common Stock that would result in
ownership in excess of 4.99% (or, at the election of the purchaser, 9.99%). Each Pre-Funded Warrant will be exercisable for one (1) share
of Common Stock. Each Pre-Funded Warrant is being issued together with the same Warrant described above being issued with each share of
Common Stock. The shares of Common Stock or Pre-Funded Warrants, as the case may be, and the accompanying Warrants, can only be purchased
together in this offering, but the shares of Common Stock and Pre-Funded Warrants and accompanying Warrants are immediately separable
and will be issued separately in this offering. We are also registering the shares of Common Stock issuable from time to time upon exercise
of the Pre-Funded Warrants and Warrants offered hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The material terms and provisions of our Common Stock
are described under the caption &ldquo;<A HREF="#a_010">Description of Capital Stock</A>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following summary of certain terms and provisions
of the Warrants included with the shares of Common Stock and the Pre-Funded Warrants that are being issued hereby is not complete and
is subject to, and qualified in its entirety by, the provisions of the Warrants, the form of which is filed as an exhibit to the registration
statement of which this prospectus forms a part. Prospective investors should carefully review the terms and provisions of the form of
warrant for a complete description of the terms and conditions of the Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Duration, Exercise Price and Form</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Each Warrant offered hereby will have an exercise
price of $2.00 per share and will be exercisable upon the Initial Exercise Date. The Warrants will expire on the five (5) year anniversary
of the Initial Exercise Date. The exercise price and number of shares of Common Stock issuable upon exercise of the Warrants is subject
to appropriate adjustment in the event of stock dividends, stock splits, reorganizations or similar events affecting our Common Stock
and the exercise price. The Warrants will be issued separately from the Common Stock and Pre-Funded Warrants and may be transferred separately
immediately thereafter.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Exercisability</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Warrants will be exercisable, at the option of
each holder, in whole or in part, by delivering to us a duly executed exercise notice accompanied by payment in full for the number of
shares of our Common Stock purchased upon such exercise (except in the case of a cashless exercise as discussed below). A holder (together
with its affiliates) may not exercise any portion of the Warrant to the extent that the holder would own more than 4.99% (or, at the election
of the purchaser prior to the issuance of the Warrants, 9.99%) of the outstanding Common Stock immediately after exercise. Following the
issuance of the Warrants, upon notice from the holder to us, the holder may increase or decrease the amount of beneficial ownership of
outstanding Common Stock after exercising the holder&rsquo;s Warrants up to 9.99% of the number of shares of our Common Stock outstanding
immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the Warrants
and in accordance with the rules and regulations of the SEC, provided that any increase in the beneficial ownership limitation shall not
be effective until sixty-one (61) days following notice to us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I></I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Cashless Exercise</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If, at the time a holder exercises its Warrants, a
registration statement registering the issuance of the shares of Common Stock underlying the Warrants under the Securities Act is not
then effective or available for the issuance of such shares, then in lieu of making the cash payment otherwise contemplated to be made
to us upon such exercise in payment of the aggregate exercise price, the holder may elect instead to receive upon such exercise (either
in whole or in part) the net number of shares of Common Stock determined according to a formula set forth in the Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Fractional Shares</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">No fractional shares of common stock will be issued
upon the exercise of the Warrants. Rather, the number of shares of Common Stock to be issued will be rounded up to the next whole share
or we will pay a cash adjustment equal to such fraction multiplied by the exercise price to the holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Transferability</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Subject to applicable laws, a Warrant may be transferred
at the option of the holder upon surrender of the Warrant to us together with the appropriate instruments of transfer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Trading Market and Listing</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There is no trading market available for the Warrants
on any securities exchange or nationally recognized trading system, and we do not expect a trading market to develop. We do not intend
to list the Warrants on any securities exchange or other trading market. Without a trading market, the liquidity of the warrants will
be extremely limited. The Common Stock issuable upon exercise of the Warrants is currently listed on The Nasdaq Capital Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Rights as a Stockholder</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Except as otherwise provided in the Warrants or by
virtue of such holder&rsquo;s ownership of shares of our Common Stock, the holders of the Warrants do not have the rights or privileges
of holders of our Common Stock, including any voting rights, until they exercise their Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Fundamental Transaction</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the event of a fundamental transaction, as described
in the Warrants and generally including any reorganization, recapitalization or reclassification of our Common Stock, the sale, transfer
or other disposition of all or substantially all of our properties or assets, our consolidation or merger with or into another person,
the acquisition of greater than 50% of our outstanding Common Stock, or any person or group becoming the beneficial owner of greater than
50% of the voting power represented by our outstanding Common Stock, the holders of the Warrants will be entitled to receive upon exercise
of the Warrants the kind and amount of securities, cash or other property that the holders would have received had they exercised the
Warrants immediately prior to such fundamental transaction. In addition, in certain circumstances, upon a fundamental transaction, the
holder of the Warrants will have the right to require us to repurchase its Warrants at the Black-Scholes value; provided, however, that,
if the fundamental transaction is not within our control, including not approved by our Board, then the holder will only be entitled to
receive the same type or form of consideration (and in the same proportion), at the Black-Scholes value of the unexercised portion of
the Warrant that is being offered and paid to the holders of our Common Stock in connection with the fundamental transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Waivers and Amendments</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Warrants may be modified or amended, or the provisions
thereof waived, with the written consent of the holder of such Warrant and us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Pre-Funded Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following summary of certain terms and provisions
of the Pre-Funded Warrants that are being issued hereby is not complete and is subject to, and qualified in its entirety by, the provisions
of the Pre-Funded Warrant, the form of which is filed as an exhibit to the registration statement of which this prospectus forms
a part. Prospective investors should carefully review the terms and provisions of the form of Pre-Funded Warrant for a complete description
of the terms and conditions of the Pre-Funded Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Duration, Exercise Price and Form</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Each Pre-Funded Warrant offered hereby will have an
initial exercise price per share equal to $0.0001. The Pre-Funded Warrants will be immediately exercisable and may be exercised at any
time until all of the Pre-Funded Warrants are exercised in full. The exercise price and number of shares of Common Stock issuable upon
exercise is subject to appropriate adjustment in the event of stock dividends, stock splits, reorganizations or similar events affecting
our Common Stock and the exercise price. The Pre-Funded Warrants will be issued separately from the accompanying Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Exercisability</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Pre-Funded Warrants will be exercisable, at the
option of each holder, in whole or in part, by delivering to us a duly executed exercise notice accompanied by payment in full for the
number of shares of our Common Stock purchased upon such exercise (except in the case of a cashless exercise as discussed below). A holder
(together with its affiliates) may not exercise any portion of the Pre-Funded Warrant to the extent that the holder would own more than
4.99% (or, at the election of the purchaser prior to the issuance of the Pre-Funded Warrant, 9.99%) of the outstanding Common Stock immediately
after exercise. Following the issuance of the Pre-Funded Warrants, upon notice from the holder to us, the holder may increase or decrease
the amount of beneficial ownership of outstanding Common Stock after exercising the holder&rsquo;s Pre-Funded Warrants up to 9.99% of
the number of shares of our Common Stock outstanding immediately after giving effect to the exercise, as such percentage ownership is
determined in accordance with the terms of the Pre-Funded Warrants and in accordance with the rules and regulations of the SEC. Purchasers
of Pre-Funded Warrants in this offering may also elect prior to the issuance of the Pre-Funded Warrants to have the initial exercise limitation
set at 9.99% of our outstanding Common Stock, provided that any increase in the beneficial ownership limitation shall not be effective
until sixty-one (61) days following notice to us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Cashless Exercise</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In lieu of making the cash payment otherwise contemplated
to be made to us upon such exercise in payment of the aggregate exercise price, the holder may elect instead to receive upon such exercise
(either in whole or in part) the net number of shares of Common Stock determined according to a formula set forth in the Pre-Funded Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Fractional Shares</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">No fractional shares of Common Stock will be issued
upon the exercise of the Pre-Funded Warrants. Rather, the number of shares of Common Stock to be issued will be rounded up to the next
whole share or we will pay a cash adjustment to such fraction multiplied by the exercise price to the holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Transferability</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Subject to applicable law, the Pre-Funded Warrants
may be transferred at the option of the holder upon surrender of the Pre-Funded Warrants to us together with the appropriate instruments
of transfer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Trading Market and Listing</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There is no trading market available for the Pre-Funded
Warrants on any securities exchange or nationally recognized trading system, and we do not expect a trading market to develop. We do not
intend to list the Pre-Funded Warrants on any securities exchange or other trading market. Without a trading market, the liquidity of
the Pre-Funded Warrants will be extremely limited. The Common Stock issuable upon exercise of the Pre-Funded Warrants is currently listed
on The Nasdaq Capital Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Rights as a Stockholder</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Except as otherwise provided in the Pre-Funded Warrants
or by virtue of such holder&rsquo;s ownership of shares of our Common Stock, the holders of the Pre-Funded Warrants do not have the rights
or privileges of holders of our Common Stock, including any voting rights, until they exercise their Pre-Funded Warrants. The Pre-Funded
Warrants will provide that holders have the right to participate in distributions or dividends paid on our Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Fundamental Transaction</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the event of a fundamental transaction, as described
in the Pre-Funded Warrants and generally including any reorganization, recapitalization or reclassification of our Common Stock, the sale,
transfer or other disposition of all or substantially all of our properties or assets, our consolidation or merger with or into another
person, the acquisition of greater than 50% of our outstanding Common Stock, or any person or group becoming the beneficial owner of greater
than 50% of the voting power represented by our outstanding Common Stock, the holders of the Pre-Funded Warrants will be entitled to receive
upon exercise of the Pre-Funded Warrants the kind and amount of securities, cash or other property that the holders would have received
had they exercised the Pre-Funded Warrants immediately prior to such fundamental transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Waivers and Amendments</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Pre-Funded Warrants may be modified or amended,
or the provisions thereof waived, with the written consent of the holder of such Pre-Funded Warrant and us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Placement Agent Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have also agreed to issue to the Placement Agent or its designees
as compensation in connection with this offering, the Placement Agent Warrants to purchase up to 70,000&nbsp;shares of Common Stock. The
Placement Agent Warrants will be exercisable upon issuance and will have substantially the same terms as the Warrants described above,
except that the Placement Agent Warrants will have an exercise price of $2.50 per share (representing 125% of the combined public offering
price per share and accompanying Warrant) and a termination date that will be five (5) years from the commencement of the sales pursuant
to this offering. See &ldquo;<A HREF="#a_013">Plan of Distribution</A>&rdquo; below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_012"></A>SHARES ELIGIBLE FOR FUTURE SALE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Future sales of our common stock, including shares
issued upon exercise of outstanding options and warrants, in the public market after this offering, or the perception that those sales
may occur, could cause the prevailing market price for our common stock to fall or impair our ability to raise equity capital in the future.
As described below, only a limited number of shares of our common stock will be available for sale in the public market after consummation
of this offering due to contractual and legal restrictions on resale described below. Future sales of our common stock in the public market
either before (to the extent permitted) or after restrictions lapse, or the perception that those sales may occur, could adversely affect
the prevailing market price of our common stock at such time and our ability to raise equity capital at a time and price we deem appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Sale of outstanding shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Except as otherwise noted, all information in this
prospectus reflects and assumes (i) full exercise of the Pre-Funded Warrants sold in this offering, and (ii) no exercise of the Warrants
or Placement Agent Warrants issued in this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Based on the number of shares of our common stock
outstanding as of June 27, 2025, upon the closing of this offering we will have outstanding 3,177,658 shares of common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Except for the outstanding shares that are held by
our affiliates, substantially all of our outstanding shares may be resold in the public market immediately (i) without any restriction
or (ii) with minimal restrictions in compliance with the SEC&rsquo;s Rule 144 (as described below) as applied to sales by non-affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Unless purchased or held by our affiliates, the 507,000
shares of common stock sold in this offering and the 1,563,000&nbsp;shares issuable upon the exercise of the Warrants, Pre-Funded Warrants
and the Placement Agent Warrants may be resold in the public market immediately without any restriction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Lock-up agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with this offering, we, our officers
and directors agreed that, for a period of 90 days from&nbsp;June 30, 2025 (the date of this prospectus), we and they will not, without
the prior written consent of the Placement Agent, dispose of or hedge any shares or any securities convertible into or exchangeable for
our common stock, subject to certain exceptions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Placement Agent, in its sole discretion may release
any of the securities subject to these lock-up agreements at any time. If the restrictions under the lock-up agreements are waived, shares
of our common stock may become available for resale into the market, subject to applicable law, which could reduce the market price for
our common stock. &ldquo;<A HREF="#a_013">Plan of Distribution</A>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Rule 144</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In general, under Rule 144, as currently in effect,
once we have been subject to the public company reporting requirements of the Exchange Act, for at least 90 days, a person (or persons
whose shares are required to be aggregated) who is not deemed to have been one of our &ldquo;affiliates&rdquo; for purposes of Rule 144
at any time during the three months preceding a sale, and who has beneficially owned restricted securities within the meaning of Rule
144 for at least six months, including the holding period of any prior owner other than one of our &ldquo;affiliates,&rdquo; is entitled
to sell those shares in the public market (subject to the lock-up agreements referred to above, if applicable) without complying with
the manner of sale, volume limitations or notice provisions of Rule 144, but subject to compliance with the public information requirements
of Rule 144.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Rule 144(a)(1) defines an &ldquo;affiliate&rdquo;
of an issuing company as a person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is
under common control with, such issuer. Directors, officers and holders of ten percent or more of the Company&rsquo;s voting securities
(including securities which are issuable within the next sixty days) are deemed to be affiliates of the issuing company. If such a person
has beneficially owned the shares proposed to be sold for at least one year, including the holding period of any prior owner other than
&ldquo;affiliates,&rdquo; then such person is entitled to sell such shares in the public market without complying with any of the requirements
of Rule 144 (subject to the lock-up agreements referred to above, if applicable).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In general, under Rule 144, as currently in effect,
once we have been subject to the public company reporting requirements of the Exchange Act for at least 90 days, our &ldquo;affiliates,&rdquo;
as defined in Rule 144, who have beneficially owned the shares proposed to be sold for at least six months, including the holding period
of any prior owner other than one of our &ldquo;affiliates,&rdquo; are entitled to sell in the public market, upon expiration of any applicable
lock-up agreements and within any three-month period, a number of those shares of our common stock that does not exceed the greater of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; background-color: white; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1% of the number of common shares then outstanding; or</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; background-color: white; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 1%; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 98%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the average weekly trading volume of our common stock on the Nasdaq during the four calendar weeks preceding the filing of a notice on Form 144 with respect to such sale.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Such sales under Rule 144 by our &ldquo;affiliates&rdquo;
or persons selling shares on behalf of our &ldquo;affiliates&rdquo; are also subject to certain manner of sale provisions, notice requirements
and to the availability of current public information about us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_013"></A>PLAN OF DISTRIBUTION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to an engagement agreement, dated June 17,
2025, as amended on June 23, 2025 (the &ldquo;Engagement Agreement&rdquo;), we have engaged H.C. Wainwright &amp; Co., LLC (the &ldquo;Placement Agent&rdquo;) to act
as our exclusive placement agent to solicit offers to purchase the securities offered pursuant to this prospectus on a &ldquo;reasonable
best efforts&rdquo; basis. The Engagement Agreement does not give rise to any commitment by the Placement Agent to purchase any of our
securities, and the Placement Agent will have no authority to bind us by virtue of the Engagement Agreement. The Placement Agent is not
purchasing or selling any of the securities offered by us under this prospectus, nor is it required to arrange for the purchase or sale
of any specific number or dollar amount of securities. This is a reasonable best efforts offering, and there is no minimum offering amount
required as a condition to the closing of this offering. The Placement Agent has agreed to use reasonable best efforts to arrange for
the sale of the securities by us. Therefore, we may not sell all of the shares of Common Stock, Pre-Funded Warrants and Warrants being
offered. The terms of this offering are subject to market conditions and negotiations between us, the Placement Agent and prospective
investors. The Placement Agent does not guarantee that it will be able to raise new capital in any prospective offering. The Placement
Agent may engage sub-agents or selected dealers to assist with the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Investors purchasing securities offered hereby will
have the option to execute a securities purchase agreement with us. In addition to rights and remedies available to all purchasers in
this offering under federal securities and state law, the purchasers which enter into a securities purchase agreement will also be able
to bring claims of breach of contract against us. The ability to pursue a claim for breach of contract is material to larger purchasers
in this offering as a means to enforce the following covenants uniquely available to them under the securities purchase agreement: (i)
a covenant to not enter into variable rate financings for a period of one (1) year following the closing of the offering, subject to certain
exceptions; and (ii) a covenant to not enter into any equity financings for 90 days from closing of the offering, subject to certain exceptions.
The nature of the representations, warranties and covenants in the securities purchase agreements shall include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">standard issuer representations
and warranties on matters such as organization, qualification, authorization, no conflict, no governmental filings required, current in
SEC filings, no litigation, labor or other compliance issues, environmental, intellectual property and title matters and compliance with
various laws such as the Foreign Corrupt Practices Act; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">covenants regarding matters
such as no integration with other offerings, filing of a Current Report on Form 8-K to disclose entering into these securities purchase
agreements, no stockholder rights plans, no material nonpublic information, use of proceeds, indemnification of purchasers, reservation
and listing of shares of Common Stock and no subsequent equity sales for days.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Delivery of the shares of Common Stock, the
Warrants and the Pre-Funded Warrants, if any, offered hereby is expected to occur on or about June 30,
2025, subject to the satisfaction of certain customary closing conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Fees and Expenses</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have agreed to pay the Placement Agent a total
cash fee equal to 7.0% of the aggregate gross proceeds raised in this offering and a management fee equal to 1.0% of the aggregate gross
proceeds raised in this offering. We will also reimburse the Placement Agent&rsquo;s legal fees and expenses in an amount up to $100,000.
We estimate the total offering expenses of this offering that will be payable by us, excluding the Placement Agent&rsquo;s fees and expenses,
will be approximately $107,900. After deducting the Placement Agent&rsquo;s fees and our estimated offering expenses, we expect the net
proceeds from this offering to be approximately $1.6 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table shows the per share, per Pre-Funded
Warrant and total cash fees we will pay to the Placement Agent in connection with the sale of the Common Stock, the Warrants and the Pre-Funded
Warrants pursuant to this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Per Share
    and Accompanying Warrant</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Per Pre-Funded
    Warrant and Accompanying Warrant</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Total</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 55%; text-align: left; padding-left: 1.25pt">Combined public offering price</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">2.00</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">1.9999</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">1,999,950.70</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 1.25pt">Placement Agent fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.14</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.1400</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">140,000.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 1.25pt">Proceeds to us, before expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.86</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.8599</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1,859,950.70</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Placement Agent Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have agreed to grant Placement Agent Warrants to
the Placement Agent or its designees to purchase a number of shares of our Common Stock equal to 7.0% of the aggregate number of shares
of Common Stock and Pre-Funded Warrants sold to the investors in this offering. The Placement Agent Warrants will have an exercise price
of $2.50 per share (125% of the combined public offering price per share of Common Stock and accompanying Warrant), will be exercisable
upon issuance and will terminate on the five (5) year anniversary of the commencement of sales in this offering. The Placement Agent Warrants
are registered on the registration statement of which this prospectus is a part. The form of the Placement Agent Warrant is included as
an exhibit to this registration statement of which this prospectus forms a part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Placement Agent Warrants provide for customary
anti-dilution provisions (for stock dividends, splits and recapitalizations and the like) consistent with FINRA Rule 5110. Pursuant to
FINRA Rule 5110(e), the Placement Agent Warrants and any shares issuable thereunder shall not be sold, transferred, assigned, pledged,
or hypothecated, or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective
economic disposition of the securities by any person for a period of 180 days immediately following the date of commencement of sales
of this offering, except the transfer of any security: (i) by operation of law or by reason of reorganization of the issuer; (ii) to any
FINRA member firm participating in the offering and the officers, partners, registered persons or affiliates thereof, if all securities
so transferred remain subject to the lock-up restriction set forth above for the remainder of the time period; (iii) if the aggregate
amount of our securities held by the Placement Agent persons does not exceed 1% of the securities being offered; (iv) that is beneficially
owned on a pro-rata basis by all equity owners of an investment fund, provided that no participating member manages or otherwise directs
investments by the fund and the participating members in the aggregate do not own more than 10% of the equity in the fund; (v) the exercise
or conversion of any security, if all securities remain subject to the lock-up restriction set forth above for the remainder of the time
period; (vi) if we meet the registration requirements of Forms S-3, F-3 or F-10; or (vii) back to us in a transaction exempt from registration
under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Right of First Refusal</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have granted the Placement Agent a right of first
refusal for a period of 12 months following the closing of this offering to act as sole book-running manager, sole underwriter or sole
placement agent for each and every future public or private offering or other capital-raising financing of equity, equity-linked or debt
securities by us or any of our successors or subsidiaries, subject to certain exceptions. Notwithstanding anything to the contrary contained
in this paragraph, in accordance with FINRA Rule 5110(g)(6)(A)(i), any such right of first refusal described in this paragraph shall not
have a duration of more than three years from the commencement of sales of the first offering or the termination date of the term of the
Engagement Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Tail</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have also agreed to pay the Placement Agent a tail
fee equal to (i) a cash fee of 7.0% raised in any financing subject to the tail provision, and (ii) warrant coverage equal to 7.0% of
the aggregate number of shares of Common Stock (or Common Stock equivalent) placed in any financing subject to the tail provision, as
applicable to such financing, if any investor, who was contacted by the Placement Agent or &ldquo;wall crossed&rdquo; during the term
of its engagement, provides us with capital in any public or private offering or other financing or capital raising transaction during
the 12 month period following expiration or termination of our engagement of the Placement Agent, subject to certain exceptions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Other Relationships</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">From time to time, the Placement Agent or its affiliates
has provided, or may provide in the future, various advisory, investment and commercial banking and other services to us or our affiliates
in the ordinary course of business, for which it has or may receive customary fees and commissions. Except as disclosed in this prospectus,
we have no present arrangements with the Placement Agent for any services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On May 16, 2024, the Company entered into an At The
Market Offering Agreement (the &ldquo;ATM Agreement&rdquo;) with the Placement Agent, to sell shares of Common Stock, from time to time,
through an &ldquo;at the market offering&rdquo; program under which the Placement Agent will act as sales agent. We agreed to pay the
Placement Agent certain cash commissions, expenses and reimbursements in connection with the ATM Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">An associated person of the Placement Agent has agreed
to purchase in this offering, on the same terms and conditions as the other investors, an aggregate of 120,000 shares of common stock,
Pre-Funded Warrants to purchase up to 130,000 shares of common stock and Warrants to purchase up to 250,000 shares of common stock, for
a total purchase price of $500,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, in the ordinary course of their business
activities, the Placement Agent and its affiliates may make or hold a broad array of investments and actively trade debt and equity securities
(or related derivative securities) for their own account and for the accounts of their customers. Such investments and securities activities
may involve securities and/or instruments of ours or our affiliates. The Placement Agent and its affiliates may also make investment recommendations
and/or publish or express independent research views in respect of such securities or financial instruments and may hold, or recommend
to clients that they acquire, long and/or short positions in such securities and instruments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Determination of Offering Price</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The combined public offering price per share of Common
Stock and accompanying Warrant and the combined public offering price per Pre-Funded Warrant and accompanying Warrant we are offering,
and the exercise prices and other terms of the Warrants were negotiated between us and the investors, in consultation with the Placement
Agent based on the trading of our Common Stock prior to this offering, among other things. Other factors considered in determining the
offering prices of the securities we are offering and the exercise prices and other terms of the Warrants include the history and prospects
of our company, the stage of development of our business, our business plans for the future and the extent to which they have been implemented,
an assessment of our management, general conditions of the securities markets at the time of the offering and such other factors as were
deemed relevant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Lock-Up Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We and each of our officers and directors have agreed
with the Placement Agent to be subject to a lock-up period of 90 days following the date of closing of the offering pursuant to this prospectus.
This means that, during the applicable lock-up period, we and such persons may not offer for sale, contract to sell, sell,  pledge, hypothecate or otherwise dispose of, directly or indirectly, any of our shares
of Common Stock or any securities convertible into, or exercisable or exchangeable for, shares of Common Stock, subject to customary exceptions.
The Placement Agent may waive the terms of these lock-up agreements in its sole discretion and without notice. In addition, we have agreed
to not issue any securities that are subject to a price reset based on the trading prices of our Common Stock or upon a specified or contingent
event in the future or enter into any agreement to issue securities at a future determined price for a period of one (1) year following
the closing date of this offering, subject to certain exceptions. The Placement Agent may waive this prohibition in its sole discretion
and without notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Transfer Agent and Registrar</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The transfer agent and registrar for our Common Stock
is Computershare Investor Services. There is no established public trading market for the Warrants and the Pre-Funded Warrants, and we
do not plan on making an application to list the Warrants or the Pre-Funded Warrants on Nasdaq, any national securities exchange or other
nationally recognized trading system. We will act as the registrar and transfer agent for the Warrants and the Pre-Funded Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Nasdaq Listing</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our Common Stock is currently listed on The Nasdaq
Capital Market under the symbol &ldquo;ASTI.&rdquo; On June 26, 2025, the reported closing price per share of our Common Stock was $2.84.
We do not plan to list the Warrants or the Pre-Funded Warrants on The Nasdaq Capital Market or any other securities exchange or trading
market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Indemnification</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have agreed to indemnify the Placement Agent against
certain liabilities, including liabilities under the Securities Act, or to contribute to payments the Placement Agent may be required
to make with respect to any of these liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Regulation M</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Placement Agent may be deemed to be an underwriter
within the meaning of Section 2(a)(11) of the Securities Act and any fees received by it and any profit realized on the sale of the securities
by it while acting as principal might be deemed to be underwriting discounts or commissions under the Securities Act. The Placement Agent
will be required to comply with the requirements of the Securities Act and the Exchange Act, including, without limitation, Rule 10b-
5 and Regulation M under the Exchange Act. These rules and regulations may limit the timing of purchases and sales of our securities by
the Placement Agent. Under these rules and regulations, the Placement Agent may not (i) engage in any stabilization activity in connection
with our securities; and (ii) bid for or purchase any of our securities or attempt to induce any person to purchase any of our securities,
other than as permitted under the Exchange Act, until they have completed their participation in the distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Electronic Offer, Sale and Distribution of Securities</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A prospectus in electronic format may be made available
on the websites maintained by the Placement Agent, if any, participating in this offering and the Placement Agent may distribute prospectuses
electronically. Other than the prospectus in electronic format, the information on these websites is not part of this prospectus or the
registration statement of which this prospectus forms a part, has not been approved or endorsed by us or the Placement Agent, and should
not be relied upon by investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Electronic Distribution</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This prospectus in electronic format may be made
available on websites or through other online services maintained by the Placement Agent, or by its affiliates. Other than this prospectus
in electronic format, the information on the Placement Agent&rsquo;s website and any information contained in any other website maintained
by the Placement Agent is not part of this prospectus or the registration statement of which this prospectus forms a part, has not been
approved and/or endorsed by us or the Placement Agent in its capacity as placement agent, and should not be relied upon by investors.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_014"></A><B>LEGAL MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Carroll Legal LLC, Denver, CO will pass upon the validity
of the securities offered hereby for us. Certain legal matters will be passed upon for the Placement Agent by Haynes and Boone, LLP, New
York, New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_015"></A><B>EXPERTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The audited financial statements incorporated by reference
in this prospectus and elsewhere in the registration statement have been so incorporated by reference in reliance upon the report of Haynie
&amp; Company, independent registered public accountants, as set forth in their report, thereon (which contains an explanatory paragraph
relating to substantial doubt about the ability of Ascent Solar Technologies, Inc. to continue as a going concern as described in Note
4 to the financial statements as of December 31, 2024 and 2023), appearing elsewhere in this prospectus, and are included in reliance
on such report given on the authority of such firm as experts in auditing and accounting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_016"></A><B>INFORMATION INCORPORATED BY REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The SEC allows us to &ldquo;incorporate by reference&rdquo;
into this prospectus the information we file with them, which means that we can disclose important information by referring you to those
documents. The information incorporated by reference is considered to be part of this prospectus supplement and the accompanying base
prospectus, and information that we file later with the SEC will automatically update and supersede this information. We incorporate by
reference the documents listed below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our <A HREF="http://www.sec.gov/Archives/edgar/data/1350102/000095017025047692/asti-20241231.htm" STYLE="-sec-extract: exhibit">Annual Report on Form 10-K</A> for the year ended December
31, 2024, filed with the SEC on March 31, 2025;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our Quarterly Report on Form 10-Q for the quarter ended
<A HREF="http://www.sec.gov/Archives/edgar/data/1350102/000095017025071487/asti-20250331.htm" STYLE="-sec-extract: exhibit">March 31, 2025</A>, filed with the SEC on May 14, 2025;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our Current Reports on Form 8-K filed with the SEC on <A HREF="http://www.sec.gov/Archives/edgar/data/1350102/000107997325000392/asti_8k.htm" STYLE="-sec-extract: exhibit">March
                                                                                                                              13, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1350102/000107997325000946/asti_8k.htm" STYLE="-sec-extract: exhibit">May
                                                                                                                              29, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1350102/000107997325001000/asti_8k.htm" STYLE="-sec-extract: exhibit">June
                                                                                                                              9, 2025</A>, and <A HREF="http://www.sec.gov/Archives/edgar/data/1350102/000155335025000076/asti_8k.htm" STYLE="-sec-extract: exhibit">June 27, 2025</A> (other than any portions thereof deemed furnished and not filed); and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2.25pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The description of our Common Stock contained in our Registration
Statement on <A HREF="http://www.sec.gov/Archives/edgar/data/1350102/000107997322000410/asti_8a12b.htm" STYLE="-sec-extract: exhibit">Form 8-A</A> filed with the SEC on August 16, 2022, as updated by the Description of Securities set forth on <A HREF="http://www.sec.gov/Archives/edgar/data/1350102/000095017025047692/asti-ex4_4.htm" STYLE="-sec-extract: exhibit">Exhibit 4.4</A> to
our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as filed with the SEC on March 31, 2025, including any amendment
or report filed for the purpose of updating such information.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We also incorporate by reference all documents that
we subsequently file with the SEC pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act (i) after the date of the initial
registration statement and prior to effectiveness of the registration statement and (ii) on or after the date of this prospectus and prior
to the termination of the offering of the securities hereunder. Nothing in this prospectus shall be deemed to incorporate information
furnished but not filed with the SEC, unless specifically noted otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Any statement contained herein or in a document incorporated
or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes hereof to the extent that a
statement contained herein or in any other subsequently filed document which is also incorporated or deemed to be incorporated herein
modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded,
to constitute a part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We will provide, without charge, to each person to
whom a copy of this prospectus is delivered, including any beneficial owner, upon the written or oral request of such person, a copy of
any or all of the documents incorporated by reference herein, including exhibits. Requests should be directed to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Ascent Solar Technologies, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">12300 Grant Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Thornton, CO 80231</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Attention: CFO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Telephone number: (720) 872-5000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, you may obtain a copy of these filings
from the SEC as described in the section entitled &ldquo;Where You Can Find More Information.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_017"></A>WHERE YOU CAN FIND MORE INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have filed with the SEC a registration statement
on Form S-1 under the Securities Act with respect to our securities being offered by this prospectus. This prospectus, which constitutes
part of that registration statement, does not contain all of the information set forth in the registration statement or the exhibits and
schedules that are part of the registration statement. Some items included in the registration statement are omitted from the prospectus
in accordance with the rules and regulations of the SEC. For further information with respect to us and the common stock offered in this
prospectus, we refer you to the registration statement and the accompanying exhibits and schedules filed therewith. Statements contained
in this prospectus regarding the contents of any contract or any other document that is filed as an exhibit to the registration statement
are not necessarily complete, and each such statement is qualified in all respects by reference to the full text of such contract or other
document filed as an exhibit to the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The SEC maintains a website that contains reports,
proxy and information statements and other information regarding registrants that file electronically with the SEC. The address is www.sec.gov.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We also maintain a website at www.ascentsolar.com.
The reference to our website address does not constitute incorporation by reference of the information contained on our website, and you
should not consider information on our website to be part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">You may also request a copy of these filings, at no
cost to you, by writing or telephoning us at the following address:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Ascent Solar Technologies, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Attn: Investor Relations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">12300 Grant Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Thornton, CO 80241</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Telephone: (720) 872-5000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 12pt 0 8pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>507,000 Shares of Common Stock and accompanying</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Warrants to Purchase Up to 507,000 Shares of Common
Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>493,000 Pre-Funded Warrants to Purchase Up to 493,000
Shares of Common Stock and</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>accompanying Warrants to Purchase Up to 493,000
Shares of Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>70,000 Placement Agent Warrants to Purchase Up to
70,000 Shares of Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>1,563,000 Shares of Common Stock Issuable Upon Exercise
of the Warrants, Pre-Funded Warrants and Placement Agent Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ASCENT SOLAR TECHNOLOGIES, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">June 27, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>H.C. Wainwright &amp; Co.</B></P>
<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;&nbsp;</P>

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