Skip to main content

US Nuclear Corp. Announces Annual 2020 Financial Results


 

Los Angeles, CA.  August 2, 2021 – US Nuclear Corp. (OTCQB: UCLE), a leading manufacturer of advanced radiation, chemical, and biological detection and UAV instrumentation, announced the annual results for the year ended December 31, 2020.

2020 Annual Highlights

  • Total sales revenue of $1,752,976 compared to $3,540,387 the previous year
  • Net loss of $3,538,103 due to impact of COVID-19
  • Equity loss of investment $818,611
  • Amortization of debt discount $462,963
  • Total operating expenses reduced 42% to $2,558,553 as compared to $4,394,844 the previous year

Robert Goldstein, CEO of US Nuclear Corp., commented:

“2020 was a challenging year for us due to COVID-19. The health and safety of our employees and their families was an urgent concern, and we took the necessary measures to ensure everyone stayed healthy. These measures included a temporary shut-down of one of our operating divisions, staggered and reduced work hours, and 14-day quarantine periods.  Sales and production were especially slow in Q1 and Q2 due to the impact of COVID-19 on our company and customers but started to recover in Q3 ($484,318) and Q4 ($644,218) as we came back to more regular production levels.  In particular, our novel DroneRAD products (aerial radiation and chemical detection system) and real-time water quality monitors for radiation, chemical, and biological pollutants have been rising in popularity and demand and we expect this trend to continue due to the unique functionality offered by these systems as well as tighter safety regulations and increased transparency to the public.

On March 12, 2020, we closed a deal to purchase 40% of Grapheton which we are incredibly excited about. Grapheton is a start-up company that is developing cutting-edge bioelectronics and neurotechnology for treating injuries and disease, implantable neural devices for brain-computer interfaces, and a new generation of enhanced micro and supercapacitors using glassy carbon. Grapheton is building a rich portfolio of forward-looking solutions, proprietary technology, and IP in cutting-edge areas and rapidly growing industries such as fast chargers for EV’s, more capable IC chips, and the brain-machine interface.

Despite a rough start to the year, we weathered the COVID-19 pandemic well, kept our employees safe, and are happy to announce that we are poised to continue growing and expanding as a sensor system developer and manufacturer.”

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 https://www.usnuclearcorp.com

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Autonomous Airborne Radiation Monitoring system

Complete UAV radiation mapping drone system US Nuclear UAV radiation mapping drone offers an accurate, affordable and versatile low-altitude aerial radiation detection vehicle which is an out of the box solution for anyone that needs to examine an area or patrol a location for radiation levels or contamination. The system gives you real-time location, measurement and mapping of radioactivity with isotope identification. UAV radiation and mapping drone: what do you get 1. Aerial unmanned drone A Small Unmanned Aircraft System (SUAS) with an all up weight less than 7.0 kg. This low total mass, coupled with the in-built redundancy of the aerial system represents a low risk of structural damage to buildings and the environment during its operation. This is in line with UK CAA guidelines. The drone has a number of supporting sensor: positioning fixing (Latitude and Longitude) by multi GNSS (GPS and Glonass), number of satellites and height above mean sea level (AMSL); tem...
Post a Comment
Read more

NGM 202L™ (Gas Monitor)

The NGM 202L monitor continuously measures the volumetric activity of noble gas and tritium in a radioactive effluent gaseous samples. FEATURES: Dynamic gamma radiation compensation Compact and reliable Minimum periodic maintenance DESCRIPTION: The NGM 202L monitor forms part of the RAMSYS™ product line. It has been developed to continuously sample the volumetric activity of noble gas and tritium in a radioactive effluent gaseous sample. This monitor can operate as a stand alone device or in conjunction with a particulate monitor (ABPM 201™ monitor), iodine monitor (IM 201™ monitor) and with a high range noble gas monitor (NGM 203™ monitor) to form a very wide range monitoring system. For More Information: usnuclearcorp.com
Post a Comment
Read more

WHY USE AGRICULTURE DRONES? MAIN BENEFITS AND BEST PRACTICES

How drone technology works To gain a better understanding of drones use in agriculture, let’s take a closer look at drone technology. Typically, a drone construction includes propulsion and navigation systems, GPS, sensors and cameras, programmable controllers as well as equipment for automated flights. The technology used for UAV drones for agriculture are built in a way that enables them to capture more accurate information than airplanes and satellites are capable of collecting. Drone-based aggrotech software processes the collected data and delivers it in an easy-to-read format.  All in all, the data collection process in the case of agriculture drones includes four logical steps: 1. Indicating flight parameters:  Outlining and evaluating the surveillance area and uploading GPS info into the drone navigation system. 2. Autonomous flights:  A UAV drone carries out a flight pattern according to the pre-established parameters and collects the required data. 3. Data uploa...
Post a Comment
Read more