US Nuclear Announces a Significant Improvement in 3rd Quarter Financials

Rhea-AI Summary

US Nuclear Corp. (OTC: UCLE) reports significant financial improvements in Q3, including a $3 million reduction in current liabilities and projecting a $1 million profitability swing compared to Q3 2023. The company implemented a 5.5% price increase and launched a cost reduction program targeting 15% ($100k per quarter) in expense cuts. They've partnered with Chamberlain Capital Partners for capital raising and marketing initiatives. Future plans include launching monitoring devices for methane and CO2 emissions from uncapped oil wells, and PFAS chemical monitoring systems in 2025.

Positive

• Reduced current liabilities by $3 million in Q3
• Projects $1 million improvement in profitability vs Q3 2023
• Implemented 5.5% price increase
• Initiated cost reduction program targeting $100k quarterly savings
• Secured partnership with Chamberlain Capital Partners for funding

Negative

• Requires additional capital raising to fund operations
• Current cost structure necessitates significant expense reduction program

LOS ANGELES, Nov. 19, 2024 (GLOBE NEWSWIRE) -- US Nuclear Corp. (OTC: UCLE) is pleased to announce they have made significant progress in reducing current liabilities by over $3 million in the 3rd quarter, while projecting a swing in profitability of over $1 million from the 3^rd quarter of 2023. Results will be released with the 3^rd quarter results later this month.

In conjunction with these efforts, the Company has increased pricing by 5.5% effective this month, and has begun a cost reduction program to reduce expenses 15%, or $100k per quarter in order to facilitate the road back to profitability.

Chamberlain Capital Partners have been retained to assist in these efforts by raising additional capital to fund the increased level of sales, and introduce marketing programs which will educate potential customers about the 50-year history of the Company in the nuclear-monitoring space. New initiatives will introduce monitoring devices that can identify and monitor the worst emitters of methane and carbon dioxide from the population of 5 million uncapped and abandoned oil wells in the US.

In 2025 the Company will introduce monitors to monitor the level of PFAS “forever chemicals,” a health threat area estimated to be many times larger than those created by both asbestos and tobacco combined.

For sales and product information call Bob Goldstein at (818) 472-7071, or email Mark Kohn at mark.kohn@usnuclear.com. For Investor information call Jack Lennon at Chamberlain Capital (508) 360-8407 or jjlennon@comcast.net.

FAQ

What financial improvements did US Nuclear (UCLE) report in Q3 2024?

US Nuclear reported a $3 million reduction in current liabilities and projects a $1 million improvement in profitability compared to Q3 2023.

How much is US Nuclear (UCLE) increasing prices in 2024?

US Nuclear implemented a 5.5% price increase effective November 2024.

What cost reduction targets has US Nuclear (UCLE) set?

US Nuclear aims to reduce expenses by 15%, or $100,000 per quarter, through their cost reduction program.

What new products is US Nuclear (UCLE) planning to launch in 2025?

US Nuclear plans to launch monitoring devices for PFAS 'forever chemicals' in 2025.