Thu, Jun 20, 8:32 PM (123 days ago)
Nano Nuclear Energy Inc. reported its financial results for the quarter ended March 31, 2024. Key financial metrics include a decrease in cash from $6.95 million to $5.96 million and an increase in prepaid expenses from $205,857 to $634,977. Total assets rose from $7.23 million to $8.87 million, while total liabilities increased from $225,005 to $2.23 million. The company reported a net loss of $2.99 million for the six months ended March 31, 2024, compared to a net loss of $2.20 million for the same period in 2023. Operating expenses included $2.25 million in general and administrative costs and $810,555 in research and development expenses. The company’s stockholders’ equity grew from $2.00 million to $6.63 million, primarily due to the conversion of $5 million from mezzanine equity to common stock. Nano Nuclear Energy Inc. remains in the pre-revenue stage, focusing on developing micro nuclear reactors, fuel fabrication facilities, and fuel transportation products. The company also completed a $10.25 million IPO in May 2024.