US Nuclear announces significant improvement in third quarter financials

LOS ANGELES, Nov. 19, 2024 (GLOBE NEWSWIRE) — US Nuclear Corp. (OTC: UCLE) is pleased to announce that they made significant progress in reducing short-term debt by more than $3 million in the third quarter, while delivering a turnaround in profitability of more than $1 million from the 3^rd quarter of 2023. The results will be released with the 3^rd quarterly results later this month.

In conjunction with these efforts, the company increased prices by 5.5% this month and initiated a cost-cutting program to reduce costs by 15%, or $100,000 per quarter, to ease the path back to profitability.

Chamberlain Capital Partners have been tapped to assist in these efforts by raising additional capital to fund the increased level of sales and introducing marketing programs that will educate potential customers about the company’s 50-year history in nuclear monitoring. New initiatives will introduce monitoring equipment that can identify and monitor the worst emitters of methane and carbon dioxide among the population of 5 million uncapped and abandoned oil wells in the US.

By 2025, the company will introduce monitors to monitor levels of PFAS ‘forever chemicals’, an area estimated to be many times larger than the area caused by both asbestos and tobacco combined.

For sales and product information, call Bob Goldstein at (818) 472-7071, or email Mark Kohn at [email protected]. For investor information, call Jack Lennon at Chamberlain Capital (508) 360-8407 or [email protected].