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

TL;DR

<b>International Isotopes Inc. filed its 2023 10-K report, detailing its financial position as of December 31, 2023, with total assets of $519.8 million and total debt of $514.9 million.</b>

AI Summary

INTERNATIONAL ISOTOPES INC (INIS) filed a Annual Report (10-K) with the SEC on March 29, 2024. International Isotopes Inc. reported total assets of $519,787,870 as of December 31, 2023. The company's total debt was $514,889,916 as of December 31, 2023. Revenue for the fiscal year ending December 31, 2023, was not explicitly stated but implied by financial figures. Net income for the fiscal year ending December 31, 2023, was not explicitly stated but implied by financial figures. The company's fiscal year ends on December 31.

Why It Matters

For investors and stakeholders tracking INTERNATIONAL ISOTOPES INC, this filing contains several important signals. The filing provides a comprehensive overview of the company's financial health and operational status for the fiscal year 2023, which is crucial for investors to assess performance and future prospects. Key financial metrics and disclosures within the 10-K are essential for understanding the company's asset base, debt obligations, and overall financial stability.

Risk Assessment

Risk Level: medium — INTERNATIONAL ISOTOPES INC shows moderate risk based on this filing. The company has significant debt relative to its assets, indicating potential financial leverage and risk.

Analyst Insight

Investors should analyze the company's debt repayment strategies and revenue generation capabilities to assess its ability to manage its financial obligations.

Financial Highlights

total Assets

519787870

total Debt

514889916

Key Numbers

• 2023-12-31 — Fiscal Year End (Report period)
• 2024-03-29 — Filing Date (Date of submission)
• $519,787,870 — Total Assets (As of December 31, 2023)
• $514,889,916 — Total Debt (As of December 31, 2023)

Key Players & Entities

• INTERNATIONAL ISOTOPES INC (company) — Filer name
• INIS (company) — Ticker symbol
• 2023-12-31 (date) — Fiscal year end
• 2024-03-29 (date) — Filing date
• $519,787,870 (dollar_amount) — Total assets as of December 31, 2023
• $514,889,916 (dollar_amount) — Total debt as of December 31, 2023

FAQ

Industry Context

International Isotopes Inc. operates in the industrial instruments sector, focusing on the production and distribution of isotopes.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the annual filing of a Form 10-K.

What Investors Should Do

1. Review the full 10-K filing for detailed financial statements and management discussion.
2. Analyze the company's revenue streams and cost structure to understand profitability drivers.
3. Assess the company's debt covenants and repayment schedule.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-29: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This filing is the 2023 Form 10-K, providing updated financial information compared to previous filings.

Key Financial Figures

• $1,085,397 — e: Increased total company revenues by $1,085,397 or 10%. Reached $12.3 million in total
• $12.3 million — revenues by $1,085,397 or 10%. Reached $12.3 million in total revenues which was the largest
• $12.5 million — ent to sell these assets for a total of $12.5 million. The transaction is expected to close i

Filing Documents

• inis20221231_10k.htm (10-K) — 1267KB
• ex_569257.htm (EX-21.1) — 5KB
• ex_569258.htm (EX-23.1) — 1KB
• ex_569259.htm (EX-31.1) — 9KB
• ex_569260.htm (EX-31.2) — 9KB
• ex_569261.htm (EX-32.1) — 7KB
• ex_569262.htm (EX-32.2) — 7KB
• auditopinionjpg_page1.jpg (GRAPHIC) — 307KB
• auditopinionjpg_page2.jpg (GRAPHIC) — 161KB
• haynieconsent2023.jpg (GRAPHIC) — 100KB
• 0001437749-24-010010.txt (&nbsp;) — 8891KB
• inis-20231231.xsd (EX-101.SCH) — 64KB
• inis-20231231_cal.xml (EX-101.CAL) — 55KB
• inis-20231231_def.xml (EX-101.DEF) — 519KB
• inis-20231231_lab.xml (EX-101.LAB) — 456KB
• inis-20231231_pre.xml (EX-101.PRE) — 557KB
• inis20221231_10k_htm.xml (XML) — 1026KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 13 Item 1C. Cybersecurity 13 Item 2.

Properties

Properties 14 Item 3.

Legal Proceedings

Legal Proceedings 14 Item 4. Mine Safety Disclosures 14 PART II Item 5. Market for Registrant' s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 15 Item 6. Reserved 15 Item 7. Management' s Discussion and Analysis of Financial Condition and Results of Operations 16 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 24 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 25 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 25 Item 9A.

Controls and Procedures

Controls and Procedures 25 Item 9B. Other Information 26 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. PART III Item 10. Directors, Executive Officers and Corporate Governance 26 Item 11.

Executive Compensation

Executive Compensation 26 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 26 Item 13. Certain Relationships and Related Transactions, and Director Independence 27 Item 14. Principal Accountant Fees and Services 27 PART IV Item 15. Exhibits, Financial Statement Schedules 27 Item 16. Form 10-K Summary 30

Signatures

Signatures 31 3 Table of Contents Cautionary Note Regarding Forward-Looking Statements This Annual Report on Form 10-K (the " Annual Report " ) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including statements regarding industry prospects and future results of operations or financial position, made in this Annual Report are forward-looking. Words such as: " anticipates, " " believes, " " should, " " expects, " " future " and " intends " and similar expressions identify forward-looking statements. In particular, statements regarding: financial condition, operating results and liquidity, future cash flow from operations, our ability to achieve profitability, the expected growth in business segment revenues, our expansion into new markets, the ability of our products to compete with several larger companies and products, the results of market studies used to support our business model, our anticipated improvement in economic conditions, the expected increased revenue resulting from sales of our U.S. Food and Drug Administration (FDA)-approved sodium iodide drug product, our ability to continue cobalt-60 production, the status of our proposed uranium de-conversion facility, and the sufficiency of our available cash and revenues from operations to meet our operating needs, are forward-looking. Forward-looking statements reflect management ' s current expectations, plans or projections and are inherently uncertain. Actual results could differ materially from management's expectations, plans or projections. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this Annual Report. Certain risks and uncertainties that could cause actual results to differ significantly from management ' s expectations are described in the section entitled " Risk Factors " in this Annual Report.

BUSINESS

Item 1. BUSINESS General Business and Products Description International Isotopes Inc. (the "Company", "we", "us" and "our") produces an FDA approved generic sodium iodide I-131 drug product, provides radiochemicals for clinical research and life sciences, manufactures a wide range of nuclear medicine calibration and reference standards, and produces a variety of cobalt-60 products for medical, research, and industrial applications. We were formed as a Texas corporation in 1995. Our wholly-owned subsidiaries are International Isotopes Idaho Inc., a Texas corporation; International Isotopes Fluorine Products, Inc., an Idaho corporation; International Isotopes Transportation Services, Inc., an Idaho corporation; RadQual, LLC, a limited liability company (RadQual); and TI Services, LLC, a limited liability company (TI Services). Our core business consists of four reportable segments which include: Theranostics Products (formerly called Radiochemical Products), Cobalt Products, Nuclear Medicine Standards, and Fluorine Products. During 2023, we focused our efforts on achieving profitability in each of our core business segments and reached several significant goals. During 2023, we: Increased total company revenues by $1,085,397 or 10%. Reached $12.3 million in total revenues which was the largest single year in company history. Increased sales in our Theranostics Products segment by 13% primarily through increases in sales of our FDA approved generic sodium iodide I-131 drug product. Increased sales in our Nuclear Medicine Standards by 10%. Developed several new products for our Nuclear Medicine products segment and expanded our range of products in this segment including Positron Emission Tomography (PET) imaging standards. Purchased medical devices and related assets and intellectual property rights from AMICI, Inc. that we plan to expand into an additional business segment, "Medical Devices" starting in 2024. Pursuant to an option agreement entered into

View Full Filing

View this 10-K filing on SEC EDGAR