Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Quercus Trust
  2. Issuer Name and Ticker or Trading Symbol
Ascent Solar Technologies, Inc. [ASTI]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
1835 NEWPORT BLVD., A109-PMB 467
3. Date of Earliest Transaction (Month/Day/Year)
02/26/2008
(Street)

COSTA MESA, CA 92627
4. If Amendment, Date Original Filed(Month/Day/Year)
02/28/2008
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/26/2008   S(1)   18,014 D $ 15.5418 1,720,132 D  
Common Stock 02/27/2008   S(1)   14,839 D $ 15.2382 1,705,293 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Quercus Trust
1835 NEWPORT BLVD.
A109-PMB 467
COSTA MESA, CA 92627
    X    
Gelbaum David
1835 NEWPORT BLVD.
A109-PMB 467
COSTA MESA, CA 92627
    X   Co-Trustee
Gelbaum Monica Chavez
1835 NEWPORT BLVD.
A109-PMB 467
COSTA MESA, CA 92627
    X   Co-Trustee

Signatures

 /s/ David Gelbaum, Co-Trustee, The Quercus Trust   02/29/2008
**Signature of Reporting Person Date

 /s/ David Gelbaum, as attorney-in-fact for Monica Chavez Gelbaum, Co-Trustee, The Quercus Trust   02/29/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) On Form 4 filed on 2/28/2008, Reporting Persons mistakenly reported a temporary short-swing profit liability of $247,113.49. This error was a result of matching sales during a period of 10% ownership against purchases made during a period of less than 10% ownership. The reported sales should have been matched against the purchase of 230,500 shares at a price of $11.7899 on 9/18/2007. The correct and true short-swing profit was $118,766.05. Because Reporting Persons transferred $247,113.49 into the account of Issuer, they are seeking a refund of $128,357.44 as overpayment of disgorgement under Section 16(b).

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