US Nuclear Corp (OTC: UCLE) has filed its Form 10-Q for the first quarter of 2026, reporting a 72% reduction in loss from operations compared to the same period in 2025, according to the company's press release. The filing, which was delayed due to issues stemming from the closure of its Los Angeles operation and the transition to a new auditor, shows a loss reduction of over $375,000. The company expects to file its second quarter report within the next three to four weeks and projects that its stock will resume trading after the release of the third quarter, anticipated in the first week of December.
Michael Hastings, CFO of US Nuclear, explained that the company faced challenges in retrieving financial data from the closed LA operation and replacing personnel at its Overhoff subsidiary. "The new auditor made some recommendations, which is taking some time to implement, but we are committed to making the reporting process faster and more efficient," Hastings said. The first quarter close and review process took approximately four months, far exceeding the standard 45-day window. The company is actively working with its internal team and independent auditors to finalize the second quarter filing as quickly as possible. Detailed financial information is available in the US Nuclear Form 10Q_March 31, 2026, and the company's annual report can be found in the US Nuclear Form 10K_December 31, 2025.
To strengthen its operations, US Nuclear engaged a General Manager/COO in June who is streamlining logistics, clearing backlogs, and accelerating product and service delivery. The company's backlog has grown to $1.2 million and is expected to reach $2.9 million by year-end. Additionally, the company is interviewing outsourced CPA firms to ensure timely financial reporting, with a selection expected shortly. The GM is also utilizing four college interns to conduct a full marketing and product analysis of the TA/Optron product line, which was previously built in LA, for a planned relaunch in January 2027 that could add $600,000 in revenues.
US Nuclear has initiated discussions with other companies regarding potential joint ventures, a purchase of the company, or a reverse merger. Management projects sales and profits to increase 20-30% in 2027 and sales to double current levels by 2028, or significantly higher if a transaction is completed. These forward-looking statements are subject to risks and uncertainties, including macroeconomic changes, supply chain disruptions, and the company's ability to raise capital and manage expansion effectively. For a complete list of risks, please read the company's Form 10-K. The original release can be viewed on www.newmediawire.com.
