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US Nuclear Corp (UCLE+21.21%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in sales to $610,864 from $593,502 in the same quarter the previous year. The increase is attributed to a rise in sales from the Overhoff subsidiary.
Cost of sales for the quarter was $138,315, representing 23% of sales, compared to 22% in the same quarter of the previous year. This reflects a slight increase in cost ratio.
The company reported a gross profit of $472,549 for the quarter, compared to $465,775 in the previous year, indicating a marginal increase.
Selling, general, and administrative expenses were $541,731, slightly up from $539,337, primarily due to increases in professional fees and payroll.
Net loss for the quarter was $110,917, significantly improved from $760,062 in the previous year, largely due to a decrease in the amortization of debt discounts.
Cash used in operating activities was $425,469, while cash used in investing activities was $21,581.
US Nuclear had total assets of $3,082,890 as of September 30, 2024. The company highlights its reliance on financing and the need for additional capital to fund future operations.
The filing also details various financial agreements, including notes payable and convertible debt arrangements.
US Nuclear does not anticipate cash dividend payments to common stockholders in the near future.
The company identified a need for additional capital to support its business plans and operations.
US Nuclear continues to focus on expanding its international customer base and diversifying its product offerings.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the US Nuclear Corp quarterly 10-Q report dated November 27, 2024. To report an error, please email earnings@qz.com.