US Nuclear Corp. Announces 2017 Annual Financial Results

US Nuclear Receives New Orders for Replacing Competitor Equipment US Nuclear Corp is a radiation detection holding company specializing in the development & manufacturing of radiation detection instrumentation. US Nuclear Expansion in China

US Nuclear Corp. Announces 2017 Annual Financial Results

 
Los Angeles, CA. April 19, 2018 - US Nuclear Corp. (OTCBB: UCLE)

2017 Annual Highlights

  • Total sales revenue of $3,070,646 , an increase of 46.4% compared to the previous year
  • Gross profit for 2017 was $1,344,913, an increase of 72% compared to the previous year
  • Profitable net income of $10,130
  • Gross margin increased to 43.8% as compared to 36.9% the previous year
  • General and administrative expense increased by 17.2% due to costs in developing and marketing new products, specifically the Drone-RAD UAV line 

 “We’re thrilled to report on a successful year in 2017 with total sales revenue growth of 46.4%,” commented Robert Goldstein, CEO of US Nuclear Corp. “The increase in revenue was due to robust sales of our signature air monitors to nuclear power plants in addition to the popular demand of our tritium air monitors, which included a large contract with the USAF.  Gross margin is increasing as we finish R&D on several new products that are being brought to the market.  Overall, 2017 was a very strong year for us, but we are not at our full manufacturing capacity yet and will focus our efforts in 2018 to increase volume even further by capturing more of the global tritium monitor market, focusing on business from new power plant and fusion development, and introducing our new products mentioned above.” 

 

About US Nuclear Corp.

US Nuclear Corp is a fully-reporting, publicly traded company on the Over-the-Counter Bulletin Board, traded under the ticker symbol UCLE. The Company's operations are principally engaged through its subsidiaries, operating two leading nuclear radiation detection companies, Overhoff Technology Corp. and Optron Scientific Company Inc. The Company designs, manufactures and markets branded, full line radiation detection and specialized advanced tritium technology for the nuclear energy industry and for emerging technological processes such as Thorium and Molten Salt (MSR) reactor technologies both domestically and internationally to customers such as United States Government Agencies, the U.S. Military, Homeland Security, Scientific Laboratories, Universities, Hospitals, nuclear reactor facilities in the United States, China, Canada, South Korea, Argentina, Russia and others.

 

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. (OTCBB: UCLE)

Robert I. Goldstein, President, CEO, and Chairman

Rachel Boulds, Chief Financial Officer

(818) 883 7043

Email: info@usnuclearcorp.com

 

 

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US Nuclear Corp. Completes Final Shipment for U.S. Air Force Contract

US Nuclear Receives New Orders for Replacing Competitor Equipment US Nuclear Corp is a radiation detection holding company specializing in the development & manufacturing of radiation detection instrumentation. US Nuclear Expansion in China

US Nuclear Corp. Completes Final Shipment for U.S. Air Force Contract

| Source: US Nuclear Corp.

 
 Los Angeles, CA, April 09, 2018 (GLOBE NEWSWIRE) -- US Nuclear Corp. (OTCBB: UCLE) recently completed the final shipment of portable tritium in air monitors to the U.S. Air Force.  The total contract of $722,500 was for (100) portable tritium monitors total and partial shipments of (15) units were delivered every month until the quota was met. 

Robert Goldstein, CEO of US Nuclear, commented, “We are extremely pleased to have completed the final shipment of tritium monitors to the USAF on-time, according to schedule.  We were able to successfully handle production of the large number of units without any issues.  We hope that the USAF and other government agencies will continue to purchase from us in the future when they require any additional tritium monitoring equipment.  Furthermore, we can use this success in negotiating for future government contracts.” 

Tritium monitors are an important part in U.S./NATO military and government readiness, security, and safety. 

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. (OTCBB: UCLE)

Robert I. Goldstein, President, CEO, and Chairman

Rachel Boulds, Chief Financial Officer

(818) 883 7043

Email: info@usnuclearcorp.com

via GlobeNewswire

About US Nuclear Corp.

U.S. Nuclear Corp is a radiation detection holding company specializing in the development and manufacturing of radiation detection instrumentation. Through three operating divisions (Technical Associates (TA), Overhoff Technology (OTC), and Electronic Control Concepts (ECC), U.S. Nuclear Corp. harbors more than 100 years of combined experience in supplying top of the line instrumentation to any industry utilizing radionuclides. This includes nuclear power plants, national laboratories, government agencies, homeland security, military, universities and schools, research companies, hospitals, medical and dental centers, energy companies, weapons facilities, first responders, local governments, and manufacturing plants.

For more information about U.S. Nuclear Corp., please visit: www.usnuclearcorp.com

 

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US Nuclear Partners with Fusion Power Leader in Radioisotope Market

US Nuclear Receives New Orders for Replacing Competitor Equipment US Nuclear Corp is a radiation detection holding company specializing in the development & manufacturing of radiation detection instrumentation. US Nuclear Expansion in China

US Nuclear Partners with Fusion Power Leader to Become Largest Supplier in $10 Billion Radioisotope Market

DENVER, CO / ACCESSWIRE / January 30, 2018 / U.S. Nuclear (OTC PINK: UCLE) recently announced it signed a preliminary agreement with MIFTEC, a subsidiary of MIFTI, to become the exclusive contractor to manufacture medical isotope generators in the nuclear medicine market. MIFTI Nuclear Fusion was recognized and awarded by the U.S. Department of Energy, ARPA-E, for their innovative approach and rapid progress towards fusion energy, which could provide a nearly limitless supply of clean, domestic power. The announcement further stated, "MIFTI has shown that its Staged Z-Pinch fusion technique will produce high neutron flux, which in turn can be used to produce large quantities of lower cost medical radioisotopes that are in big demand and diminishing supply." MIFTI and MIFTEC have created a revolutionary new way to produce large quantities of radioisotopes, and at a lower cost.

Radioisotopes are in short supply and are required for life-saving medical imaging and certain cancer treatments. According to Research and Markets 'Global Nuclear Medicine Radioisotopes Market - Analysis and Forecasts (2015-2020)', the market for nuclear medical radioisotopes was expected to be $9.61 billion in 2015 and is expected to reach $17.28 billion by the end of 2020.

The National Academies of Sciences, Engineering, and Medicine issued a report warning of the potential of severe shortages of radioisotopes. Radioisotopes are currently produced in a small number of older nuclear fission reactors that are subject to shut downs resulting in supply interruptions. Sarah Varney, NY Times author reported in her article, Inside the Global Relay Race to Deliver Moly-99, "Nuclear medicine imaging, a staple of American health care since the 1970s, runs almost entirely on Molybdenum-99, a radioisotope produced by nuclear fission of enriched uranium that decays so rapidly it becomes worthless within days. But moly-99, as it's called, is created in just six government-owned nuclear research reactors - none in the USA raising concerns about the reliability of the supply and even prompting federal scientists to warn of the possibility of severe shortages."

Three companies dominate the American market for moly-99 - Lantheus, Curium and GE.

They distribute the material to specialized pharmacies around the country where technicians process it into cartridges that dispense the diagnostic imaging agent called technetium-99m. The companies work against a ticking clock. Because of its short half-life, just 66 hours for moly-99 and six hours for the imaging agent, the material must be quickly delivered to hospitals and administered to patients.

Today, there are only two main sources of Moly-99 for use in the United States. They are the National Research Universal Reactor operated by Atomic Energy Canada, Ltd. at its Chalk River Ontario site and the High Flux Reactor operated by the Nuclear Research and Consultancy Group at the Petten, Netherlands site. Both reactors are over 40 years old. The Canadian NRU reactor which supplies 40% of the world's moly-99 was only recently given a shut- down reprieve until March 31, 2018 subject to relicensing by the Canadian Nuclear Safety Commission. The Netherlands HFR reactor has been forced to shut down on a number of occasions due to financial issues and hazardous waste leakage. The Netherlands plans to replace the HFR Petten reactor with the Pallas reactor. However, construction is not scheduled to finish until 2023 at a whopping cost estimated at 580M Euros.

MIFTEC will fundamentally change the way radiopharmaceuticals are created.

U.S. Nuclear Corp's partner, MIFTI/MIFTEC developed a unique Staged Z-pinch (SZP) methodology to produce large quantities of radioisotopes. SZP is a safe, reliable, cost-effective, fusion-based process that uses a hydrogen isotope from seawater to create radionuclides without the environmental hazards of highly enriched uranium (HEU) or low enriched uranium (LEU) or the expense of the cyclotron or reactor method currently required to produce these products.

MIFTI/MIFTEC scientists at the University of California, Irvine, have successfully developed and patented a world-changing technology that will solve the current crisis of worldwide shortages in radionuclide/medical isotopes.

The MIFTI website says, "MIFTI knows of no other non-proliferating, fusion-based company currently in the nuclear medicine space. We are well-positioned to fundamentally change how radiopharmaceuticals are produced and distributed, and thus dominate a critical segment of the multi-billion-dollar nuclear medicine industry."

This patented new technology enables production of large amounts of medical isotopes and can cut the current cost of production by 50%, thereby allowing even greater access to individuals that need them. Because of the very short lives of the radioisotopes, U.S. Nuclear and MIFTEC plan to have their generators operating at strategically placed distribution facilities in the United States that will be close to users and therefore will offer a significantly longer useful lifespan than today's only options of distant nuclear power plants in Canada and Europe.

The MIFTI website under "Target Markets" says, "The use of nuclear medicine protocols has grown to over 20 million procedures per year in the United States alone. U.S. Nuclear and MIFTEC target markets include over 10,000 hospitals, clinics, laboratories, radio-pharmaceutical companies, and radio-analytical instrument manufacturers worldwide."

According to their announcement, U.S. Nuclear Corp. and MIFTEC have agreed to U.S. Nuclear initially acquiring a 10% ownership interest in MIFTEC. The companies are open to discussions leading to a larger interest as they move forward as partners dedicated to becoming a major provider of badly needed radioisotopes.

Conclusion

If U.S. Nuclear and MIFTEC successfully produce radioisotopes with the technology they have already demonstrated, they could capture several billion dollars in sales. If U.S. Nuclear owns a 10% interest in the sales, U.S. Nuclear sales (about $2 million reported for 2016) could experience dramatic growth of 5000% for each billion in sales they recognize. That number could increase even further if they increase their ownership in the partnership. Investment risk seems to be mitigated somewhat by the fact that U.S. Nuclear continues to be a leader in its space, and their long history suggests that the company could experience reasonable growth even without the radioisotope opportunity.

If management executes on their new strategy to become the largest provider of lower-cost radioisotopes in a $17 Billion market, the impact to their short-term and long-term market valuation could be dramatic.

 

About US Nuclear Corp.

U.S. Nuclear Corp is a radiation detection holding company specializing in the development and manufacturing of radiation detection instrumentation. Through three operating divisions (Technical Associates (TA), Overhoff Technology (OTC), and Electronic Control Concepts (ECC), U.S. Nuclear Corp. harbors more than 100 years of combined experience in supplying top of the line instrumentation to any industry utilizing radionuclides. This includes nuclear power plants, national laboratories, government agencies, homeland security, military, universities and schools, research companies, hospitals, medical and dental centers, energy companies, weapons facilities, first responders, local governments, and manufacturing plants.

For more information about U.S. Nuclear Corp., please visit: www.usnuclearcorp.com

Legal Disclaimer:

Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Flathead Business Solutions LLC, which owns tamarackadvisorsinc.com, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. Flathead Business Solutions LLC may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Flathead Business Solutions LLC may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit http://tamarackadvisorsinc.com/legal-disclaimer/.

SOURCE: Tamarack Advisors

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US Nuclear Receives New Orders for Replacing Competitor Equipment US Nuclear Corp is a radiation detection holding company specializing in the development & manufacturing of radiation detection instrumentation. US Nuclear Expansion in China

US Nuclear Receives New Orders for Replacing Competitor Equipment

Los Angeles, CA, March 22, 2018 (GLOBE NEWSWIRE) -- Recently, US Nuclear Corp. (UCLE) received orders for new tritium monitoring equipment from Schlumberger for $93,150 and Korea Hydro & Nuclear Power (KHNP) for $307,922, totaling just over $400,000.  In each case, the user chose US Nuclear’s equipment to replace units manufactured by a competitor.  Overhoff Technology Corporation, the subsidiary of UCLE that manufactures the tritium monitors, provides the largest selection of tritium monitors in the world, and has a well-known history of reliability and performance.  Founded in 1972, Overhoff has more experience than any other tritium manufacturer in the world designing and building tritium monitors, which has allowed them to perfect the art of assembling these complex and challenging instruments.  Furthermore, Overhoff is now the only company in the United States specializing in the manufacture of tritium monitors. 

Tritium monitors are required for any application where tritium is used or is present, to ensure the health and safety of the users and the public.  These applications include: nuclear power reactors, tritium processing facilities, manufacturing (such as self-powered lighting sources), biomedical and academic research, water treatment/groundwater monitoring, nuclear fusion, and nuclear weapons.  Accurately measuring the tritium concentration in these applications is essential, which is why it is so important to have reliable monitors with a good track record, such as Overhoff. 

Over time, tritium monitors can fail, wear out, get contaminated, or even become obsolete due to the manufacturer not supporting them anymore, at which point they need to be replaced.  There are also customers who simply want to upgrade their old or current equipment to utilize the newest advances in technology, or who lose confidence in their current supplier due to performance or reliability issues and want to change.  Overhoff is in a prime position to provide replacement tritium monitors for any of these instances, and has actually recently received a drastic rise in requests ever since one of Overhoff’s competitors in the U.S. stated they are discontinuing support of their old line of tritium monitors.

Overhoff introduced the “Triathalon” system in 2014, which is an upgraded interface that includes a color touch-screen LCD display and an integrated computer in place of the analog controls and digital display.  With the superior functionality of the Triathalon, Overhoff hopes to accelerate this replacement trend. 

via Yahoo

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

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US Nuclear Expansion in China

US Nuclear Receives New Orders for Replacing Competitor Equipment US Nuclear Corp is a radiation detection holding company specializing in the development & manufacturing of radiation detection instrumentation. US Nuclear Expansion in China

US Nuclear Expands in China

Los Angeles, CA. February 20, 2018 - In early January, 2018, the CEO of US Nuclear Corp. (OTC: UCLE) flew to Beijing, China with the purpose of discussing how US Nuclear can help improve Chinese nuclear customer’s access to the advanced, high-quality, more competitively priced products they need in order to meet China’s aggressive power plant construction growth targets. The goal is to expand USN offerings and to achieve substantial growth for US Nuclear markets in China beginning in 2018 and into the longer term.

Discussions are scheduled to continue in March as US Nuclear will attend Nuclear Industry China, a 4-day event being held from March 28-31, 2018, at the China International Exhibition Center in Beijing. This event allows US Nuclear to showcase its products for major industry sectors including:

  • Nuclear Power Plant and Fuel Cycle Equipment for Uranium, Thorium, Fusion
    Featuring Smokestack, Liquid effluent and Tritium monitors
     
  • Hospital, Medical, and Biotech
    Featuring products used in Diagnostic Imaging and Oncology departments

  • Environmental Monitoring and Protection Systems
    Featuring All-weather Drones with chemical and radiation sensors Systems for protection and safety of rivers, lakes and drinking water systems

 

CHINA NUCLEAR INDUSTRY BACKGROUND

US Nuclear has been providing nuclear equipment to China since the beginning of China’s nuclear age at Daya Bay, China’s first nuclear power plant. Equipment sales have been modest, but are now accelerating since US Nuclear’s pivot to China in 2015. Robert Goldstein, CEO of US Nuclear, commented, “The opening of our Beijing China office on February 25, 2017, has turned out to be a great move for us, in improving customer communications, service, and trust. It has also greatly increased our presence and awareness of the gaps we can fill for a fast-growing industry that is in need of greater supply and lower costs.”

Mr. Goldstein further stated, “We make the best tritium monitors in the world, and each nuclear power plant has a need for over 6 million dollars of our equipment. China is now the world’s biggest builder of new nuclear plants and is the biggest opportunity for nuclear equipment suppliers, with 37 nuclear power units in operation, 20 nuclear reactors now under construction, and with aggressive plans for 200 units overall.”

Sources indicate that nuclear power is the only base load energy source that can completely replace coal on a large scale and that can provide a reliable power grid to defeat the widespread air pollution that is such an enormous problem in China today.

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

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