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US Nuclear Corp. Announces 2019 Annual Financial Results
US Nuclear Corp. Announces 2019 Annual Financial Results.
About this update from Us Nuclear Corp.
[{"type":"text","content":"\n 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 yearGross margin increased to 54.7% as compared to 53.0% the previous yearNet 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 $508,000Purchased 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 SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONSFOR THE YEARS...