ASP Isotopes Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>ASP Isotopes Inc. filed its 2023 10-K report detailing its financial position and business operations.</b>

AI Summary

ASP Isotopes Inc. (ASPI) filed a Annual Report (10-K) with the SEC on April 10, 2024. ASP Isotopes Inc. reported total assets of $35,907,127 and total liabilities of $48,923,276 for the fiscal year ending December 31, 2023. The company's fiscal year ends on December 31st. The filing is a 10-K annual report. The company's principal business address is 1101 Pennsylvania Avenue NW, Suite 300, Washington, DC 20004. The company's phone number is 202-756-2245.

Why It Matters

For investors and stakeholders tracking ASP Isotopes Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of ASP Isotopes Inc.'s financial health and operational performance for the fiscal year 2023, which is crucial for investors to assess the company's stability and growth prospects. Understanding the company's asset and liability figures ($35,907,127 in assets and $48,923,276 in liabilities) is key to evaluating its financial leverage and solvency.

Risk Assessment

Risk Level: medium — ASP Isotopes Inc. shows moderate risk based on this filing. The company has more liabilities ($48,923,276) than assets ($35,907,127) as of December 31, 2023, indicating potential financial strain.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand the implications of the company's liabilities exceeding its assets.

Financial Highlights

total Assets

35907127

total Debt

48923276

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting Period)
• 10-K — Form Type (Filing Type)
• $35,907,127 — Total Assets (As of December 31, 2023)
• $48,923,276 — Total Liabilities (As of December 31, 2023)
• 2024-04-10 — Filed As Of Date (Submission Date)
• 202-756-2245 — Business Phone (Contact Information)

Key Players & Entities

• ASP Isotopes Inc. (company) — Filer
• 2023-12-31 (date) — Fiscal Year End
• 10-K (document) — Form Type
• 001-41555 (filing_id) — SEC File Number
• 2024-04-10 (date) — Filed As Of Date
• $35,907,127 (dollar_amount) — Total Assets
• $48,923,276 (dollar_amount) — Total Liabilities
• 1101 Pennsylvania Avenue NW, Suite 300, Washington, DC 20004 (address) — Business Address

FAQ

Industry Context

ASP Isotopes Inc. operates within the Miscellaneous Chemical Products sector, specifically focusing on isotopes.

Regulatory Implications

The company is subject to SEC regulations for its public filings, including the annual 10-K report.

What Investors Should Do

1. Analyze the detailed financial statements for the fiscal year ended December 31, 2023.
2. Review the Management's Discussion and Analysis of Financial Condition and Results of Operations section.
3. Examine the Risk Factors section for potential challenges and uncertainties.

Year-Over-Year Comparison

This is the initial 10-K filing for ASP Isotopes Inc. as a public company, providing a baseline for future comparisons.

Key Financial Figures

• $0.01 — h registered: Common stock, par value $0.01 per share ASPI The Nasdaq Capital M
• $20.5 million — gross proceeds to QLE of approximately $20.5 million. We intend to use the net proceeds from
• $2,000,000 — ed to pay to the Seller an aggregate of $2,000,000 for the Initial Sale Shares, of which a
• $500,000 — Sale Shares, of which aggregate amount $500,000 was paid on the completion of the sale
• $1,500,000 — the sale of the Initial Sale Shares and $1,500,000 is payable on demand after one calendar
• $2,200,000 — l), we have agreed to pay an additional $2,200,000 for the Option Shares. Company-Owned A
• $9 m — s contract has an annual sales value of $9 million, which we expect to realize durin
• $900,000 — received a prepayment of approximately $900,000 for this contract. In July 2023, we en
• $2.5 million — m "take or pay" amount of approximately $2.5 million per year, supported by a bank letter of
• $27 million — to a 25-year supply agreement for up to $27 million per annum of highly enriched Molybdenum

Filing Documents

• aspi_10k.htm (10-K) — 1760KB
• aspi_ex32.htm (EX-3.2) — 114KB
• aspi_ex41.htm (EX-4.1) — 27KB
• aspi_ex211.htm (EX-21.1) — 5KB
• aspi_ex231.htm (EX-23.1) — 2KB
• aspi_ex311.htm (EX-31.1) — 10KB
• aspi_ex312.htm (EX-31.2) — 10KB
• aspi_ex321.htm (EX-32.1) — 4KB
• aspi_ex971.htm (EX-97.1) — 22KB
• aspi_10kimg1.jpg (GRAPHIC) — 34KB
• aspi_10kimg2.jpg (GRAPHIC) — 15KB
• aspi_10kimg3.jpg (GRAPHIC) — 16KB
• 0001477932-24-001964.txt (&nbsp;) — 7290KB
• aspi-20231231.xsd (EX-101.SCH) — 64KB
• aspi-20231231_lab.xml (EX-101.LAB) — 432KB
• aspi-20231231_cal.xml (EX-101.CAL) — 59KB
• aspi-20231231_pre.xml (EX-101.PRE) — 345KB
• aspi-20231231_def.xml (EX-101.DEF) — 182KB
• aspi_10k_htm.xml (XML) — 872KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 23 Item 1B. Unresolved Staff Comments 50 Item 1C. Cybersecurity 50 Item 2.

Properties

Properties 50 Item 3.

Legal Proceedings

Legal Proceedings 51 Item 4. Mine Safety Disclosures 51 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 52 Item 6. [Reserved] 53 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 53 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 61 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 62 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 88 Item 9A.

Controls and Procedures

Controls and Procedures 88 Item 9B. Other Information 89 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 89 PART III Item 10. Directors, Executive Officers and Corporate Governance 90 Item 11.

Executive Compensation

Executive Compensation 90 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 90 Item 13. Certain Relationships and Related Transactions and Director Independence 90 Item 14. Principal Accounting Fees and Services 90 PART IV Item 15. Exhibits, Financial Statement Schedules 91 Item 16. Form 10-K Summary 92 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical fact contained in this Annual Report on Form 10-K, including statements regarding our future results of operations and financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "should," "would," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking statements in this Annual Report on Form 10-K are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. These forward-looking statements speak only as of the date of this Annual Report on Form 10-K and are subject to a number of risks, uncertainties and assumptions described in the section titled "Risk Factors" and elsewhere in th

Business

Item 1. Business Overview We are a development stage advanced materials company dedicated to the development of technology and processes that, if successful, will allow for the enrichment of natural isotopes into higher concentration products, which could be used in several industries. Our proprietary technology, the Aerodynamic Separation Process ("ASP technology"), originally developed by Klydon Proprietary Ltd ("Klydon"), is designed to enable the production of isotopes used in several industries. Our initial focus is on the production and commercialization of enriched Carbon-14 ("C-14"), Molybdenum-100 ("Mo-100") and Silicon-28 ("Si-28"). We have commissioned an isotope enrichment plant for the enrichment of C-14 located in Pretoria, South Africa, which will be ready for production upon the final installation of essential components. We anticipate completion and commissioning of a multi-isotope enrichment plant in Pretoria, South Africa in mid-2024. In addition, we have started planning additional isotope enrichment plants. We believe the C-14 we may produce using the ASP technology could be used in the development of new pharmaceuticals and agrochemicals. We believe the Mo-100 we may produce using the ASP technology could have significant potential advantages for use in the preparation of nuclear imaging agents by radiopharmacies and others in the medical industry. We believe the Si-28 we may produce using the ASP technology may be used to create advanced semiconductors and in quantum computing. In addition, we are considering the future development of the ASP technology for the separation of Zinc-68, Xenon-129/136 for potential use in the healthcare end market, Germanium 70/72/74 for possible use in the semiconductor end market, and Chlorine -37 for potential use in the nuclear energy end market. We are also developing Quantum Enrichment technology to produce enriched Ytterbium-176, Nickel-64, Lithium 6, Lithium7 and Uranium-235 ("U-235"). Quantum enrichm

View Full Filing

View this 10-K filing on SEC EDGAR