Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  US Nuclear Corp.    UCLE

US NUCLEAR CORP.

(UCLE)
  Report
SummaryQuotesChartsNewsCompanyFinancials 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

US Nuclear Corp. Announces 2019 Annual Financial Results

07/07/2020 | 08:31am EST

Los Angeles, CA, July 07, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- US Nuclear Corp. (OTC: UCLE), a leading manufacturer of advanced radiation, chemical, and biological detection and UAV instrumentation, announced the annual results for the year ended December 31, 2019.   

2019 Annual Highlights

  • Total sales revenue of $3,540,387 compared to $3,634,560 the previous year
  • Gross profit for 2019 was $1,934,940, an increase of 0.4% compared to the previous year
  • Gross margin increased to 54.7% as compared to 53.0% the previous year
  • Net loss of $3,160,773 primarily due to stock-based compensation ($2,353,959 for the year ended December 31, 2019)
  • Write-down of investments of $508,000
  • Purchased 40% stake in brain-machine interface startup Grapheton
  • Secured an equity position in Magneto-Inertial Fusion Technology Inc. (MIFTI) and completed final payment for 10% interest in MIFTEC Laboratories in addition to sales and manufacturing rights
  • $1,087,660 cash in bank with a large order backlog

Robert Goldstein, CEO of US Nuclear Corp., commented:
“We are very excited about the progress of US Nuclear this past year and for the outlook on the future.   Sales revenue was strong for 2019, and the slight decrease in revenue from the previous year was primarily the timing of shipment for larger orders.  We are working with a new business development company to help increase our online presence, inbound leads, and sales revenue. 

The net loss we reported was due to stock-based compensation for acquiring 40% of Grapheton, also increasing our stake and our sales and manufacturing rights in MIFTEC and MIFTI fusion generator companies.  Our early investment and involvement with these promising companies will not only reap huge rewards for us in the future, but will help US Nuclear grow and expand as a sensor manufacturer.  Grapheton (in the same space as Elon Musk’s Neuralink) is at the forefront of the brain-machine interface revolution for treating injuries and disease with several patented advantages already, and MIFTI has a test planned at L3 Harris for 2020 that could be the first in history to achieve the “break even point” -- the gateway requirement for fusion power and medical isotope production.”

US NUCLEAR CORP. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 2019 AND 2018
        
     2019 2018
        
Sales  $  3,540,387$  3,634,560
Cost of sales   1,605,447   1,707,355
Gross profit    1,934,940   1,927,205
        
Operating expenses    
 Consulting expense   1,668,958   1,440,213
 Professional fees   380,951   330,536
 Officer compensation   896,000   110,000
 Payroll and related expense   858,152   689,874
 Selling, general and administrative expenses   590,783   664,162
 Acquisition of manufacturing and supply rights   -    1,084,000
  Total operating expenses   4,394,844   4,318,785
        
Loss from operations   (2,459,904)   (2,391,580)
        
Other income (expense)    
 Other income   -    14,000
 Writedown of investments   (508,000)   - 
 Interest expense and financing costs   (62,704)   (29,490)
 Loss on issuance of convertible debenture   (183,978)   - 
 Change in value of derivative liability   53,813   - 
  Total other expense   (700,869)   (15,490)
        
Loss before provision for income taxes   (3,160,773)   (2,407,070)
        
Provision for income taxes   -    - 
        
Net loss $  (3,160,773)$  (2,407,070)
        
        
Weighted average shares outstanding - basic and diluted   18,300,793   15,972,462
        
Loss per shares - basic and diluted$  (0.17)$  (0.15)

Safe Harbor Act
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.

Investors may find additional information regarding US Nuclear Corp. at the SEC website at http://www.sec.gov, or the company’s website at www.usnuclearcorp.com

CONTACT:

US Nuclear Corp. (OTC: UCLE)
Robert I. Goldstein, President, CEO, and Chairman
Rachel Boulds, Chief Financial Officer
(818) 883 7043
Email: info@usnuclearcorp.com

Primary Logo


© GlobeNewswire 2020
All news about US NUCLEAR CORP.
01/06US NUCLEAR CORP. : Other Events, Financial Statements and Exhibits (form 8-K)
AQ
01/06US NUCLEAR : 2019 Convertible Debenture Now Fully Converted, Closed, and Flat
AQ
2020US Nuclear Corp. Discusses The Progress of Its MIFTEC Contract and Overhuff T..
NE
2020US Nuclear Corp. Announces Third Quarter 2020 Results
GL
2020US NUCLEAR : Management's Discussion and Analysis of Financial Condition and Res..
AQ
2020US NUCLEAR : and Grapheton Brain Implants to Help Immobilized Patients
AQ
2020US Nuclear and Grapheton Brain Implants to Help Immobilized Patients
GL
2020US NUCLEAR : Secures Its Position at Bioelectronics Startup Grapheton
AQ
2020US Nuclear Secures Its Position at Bioelectronics Startup Grapheton
GL
2020US NUCLEAR : Tritium Monitor Market Soars Due to Construction of $20+ Billion IT..
AQ
More news
Financials (USD)
Sales 2019 3,54 M - -
Net income 2019 -3,16 M - -
Net cash 2019 0,10 M - -
P/E ratio 2019 -4,28x
Yield 2019 -
Capitalization 8,21 M 8,21 M -
EV / Sales 2018 2,02x
EV / Sales 2019 3,85x
Nbr of Employees 20
Free-Float 48,4%
Chart US NUCLEAR CORP.
Duration : Period :
US Nuclear Corp. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Managers and Directors
NameTitle
Robert I. Goldstein Chairman, President & Chief Executive Officer
Richard Landry COO & Director-Investor Relations
Rachel Boulds Chief Financial Officer & Secretary
Michael G. Hastings Director
Dell Williamson Director
Sector and Competitors