WASHINGTON, July 11, 2024 (GLOBE NEWSWIRE) -- ASP Isotopes Inc. NASDAQ: ASPI ("ASP Isotopes" or the "Company") today announced that it has commenced an underwritten public offering of shares of its common stock. ASP Isotopes intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of its common stock sold in the offering. All of the shares in the offering are to be sold by ASP Isotopes. The offering is subject to market and other conditions, and there can ...

WASHINGTON, July 11, 2024 (GLOBE NEWSWIRE) -- ASP Isotopes Inc. NASDAQ: ASPI ("ASP Isotopes” or the “Company”) today announced that it has commenced an underwritten public offering of shares of its common stock. ASP Isotopes intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares of its common stock sold in the offering. All of the shares in the offering are to be sold by ASP Isotopes. The offering is subject to market and other conditions, and there can ...

onimate/iStock via Getty Images Why You Should Keep ASP Isotopes On Your Watchlist ASP Isotopes Inc. (NASDAQ:ASPI) with a life history of fewer than three years, is a specialty materials company, that is seeking to build clout in the terrain of Isotopes, where the supply chain is inherently quite fragile, and provides budding players, the opportunity to make a mark. For the uninitiated, Isotopes are atoms of the same chemical elements that have the same number of protons but different number of neutrons; fo ...

WASHINGTON, June 13, 2024 (GLOBE NEWSWIRE) -- ASP Isotopes Inc. NASDAQ: ASPI ("ASP Isotopes” or the “Company”), an advanced materials company dedicated to the development of technology and processes for the production of isotopes for use in multiple industries, today announced the appointment of Heather Kiessling as its chief financial officer (CFO), effective as of July 1, 2024 (or such earlier date as may be mutually agreed), to support the Company’s next pivotal phase of growth. Robert Ainscow, who curre ...

 - Purchase order covers supply of highly enriched silicon-28, which is expected to be supplied in 2024. - This purchase order is the second order for the supply of enriched electronic gases in 2024. - The Company is in discussions with multiple potential customers regarding the supply of highly enriched isotopically pure electronic gases for next-generation semiconductors, anticipated to enable technologies such as quantum computing and artificial intelligence. WASHINGTON, June 03, 2024 (GLOBE NEWSWIRE) -- ...

Financial Performance - The company recognized revenue of $840,354 for the three months ended March 31, 2024, compared to $0 for the same period in 2023[192]. - Cost of goods sold for the three months ended March 31, 2024, was $561,484, resulting in a gross margin of $278,870[194]. - Research and development expenses increased to $215,134 for the three months ended March 31, 2024, from $207,334 in the same period of 2023[198]. - Selling, general and administrative expenses rose significantly to $5,878,546 for the three months ended March 31, 2024, compared to $3,517,490 in 2023[200]. - The company incurred a net loss of $7,012,463 for the three months ended March 31, 2024, compared to a net loss of $3,615,078 for the same period in 2023[195]. - The company reported a net cash used in operating activities of $2,970,469 for the three months ended March 31, 2024, compared to $1,444,965 for the same period in 2023, indicating an increase in operational losses[212][213]. - The company’s net loss for the three months ended March 31, 2024, was $6,964,844, which was adjusted for various non-cash expenses[212]. Funding and Capital Structure - In March 2024, the company's subsidiary Quantum Leap Energy raised $20.55 million through the issuance of Convertible Promissory Notes, maturing on March 7, 2029[166]. - The company completed an IPO in November 2022, raising net proceeds of $3.8 million from the sale of 1,250,000 shares at $4.00 per share[163]. - In October 2023, the company entered into agreements to issue 9,952,510 shares for total cash consideration of approximately $9.13 million, with share prices ranging from $0.9105 to $0.96[165]. - Future funding requirements indicate that existing cash will not be sufficient to cover operating expenses and capital expenditures for at least the next 12 months[205]. - The company expects to finance its cash needs through public or private equity or debt financings, but may face challenges due to adverse global economic conditions and market volatility[210]. - The company may require substantial additional financing to support the development and commercialization of future isotopes and nuclear medical doses for PET scanning[208][209]. - The company is facing potential dilution of stockholder ownership if additional capital is raised through equity or convertible debt securities[210]. Operations and Acquisitions - The company is focused on the production and commercialization of enriched isotopes, including Carbon-14, Molybdenum-100, and Silicon-28, with a multi-isotope enrichment plant expected to be operational by mid-2024[162]. - The company has developed Quantum Enrichment technology for producing isotopes like Uranium-235, which may be used in next-generation nuclear reactors[163]. - The company acquired 51% of PET Labs Pharmaceuticals for $2 million, with the first installment of $500,000 paid in November 2023[167]. - The company acquired assets from Molybdos for approximately $734,000 and a dormant Silicon-28 plant for about $364,000[169][170]. - The company has entered into a lease for a Molybdenum processing plant that will expire on December 31, 2030[178]. - The company is planning additional isotope enrichment plants beyond the one in Pretoria, South Africa[162]. - The company has entered into a lease for additional laboratory space in Pretoria, South Africa, to support its research and development activities[179]. - The company has begun recognizing revenue from the sale of nuclear medical doses for PET scanning following the acquisition of 51% of PET Labs Pharmaceuticals on October 31, 2023[204]. Cash Flow and Expenses - The company has incurred cash issuance costs of $506,390 related to the March 2023 stock issuance[164]. - Financing activities generated net cash of $20,263,995 for the three months ended March 31, 2024, primarily from the issuance of convertible notes payable, a significant increase from $4,493,610 in the same period of 2023[215][216]. - Net cash used in investing activities was $1,245,825 for the three months ended March 31, 2024, compared to $362,056 in the same period of 2023, reflecting increased investment in machinery and equipment[214]. - The company has ongoing lease obligations totaling approximately $28,000 per month for its main facility in Pretoria, South Africa, with terms expiring in 2026[218]. Future Outlook - The company anticipates that future isotopes will not be commercially available in substantial quantities until at least the second half of 2024, with U-235 availability being highly uncertain and potentially taking several years[207]. - The company expects substantial increases in research and development expenses as it continues to develop future isotopes[184]. - The company has no off-balance sheet arrangements as defined by SEC regulations during the periods presented[219].

JacobH/E+ via Getty Images ASP Isotopes (NASDAQ:ASPI) epitomizes the type of company we're drawn to cover: undervalued and overlooked, yet poised to disrupt significant markets with their proprietary technologies. Despite being in the early stages of its journey, ASPI has impressed us with CEO Paul Mann's adept navigation of the strategic roadmap. Since its inception just over two years ago, the company is already constructing its third commercial facility. Moreover, it stands on the verge of generating its ...

WASHINGTON, April 11, 2024 (GLOBE NEWSWIRE) -- ASP Isotopes Inc. NASDAQ: ASPI ("ASPI," or the "Company"), an advanced materials company dedicated to the development of technology and processes designed to produce isotopes used in multiple industries, today released the following letter to stockholders from its Chairman and CEO, Paul Mann. Dear Fellow Stockholder, In light of the considerable progress made since my last shareholder letter approximately six months ago, and with our Annual Report on Form 10K f ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Name of exchange Title of each class Trading Symbol on which registered: Common stock, par value $0.01 per share ASPI The Nasdaq Capital Market LLC Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated Filer ☒ Smaller reporting company ☒ Emerging growth company ☒ FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO ...

WASHINGTON, April 09, 2024 (GLOBE NEWSWIRE) -- ASP Isotopes Inc. NASDAQ: ASPI ("ASP Isotopes" or the "Company"), an advanced materials company dedicated to the development of technology and processes for the production of enriched isotopes for use in multiple industries, today announced that it has entered into an agreement with an institutional investor that is an existing holder of warrants to purchase shares of common stock of the Company for cash (the "Existing Warrants"), wherein the investor agreed to ...