UNIVERSAL SAFETY PRODUCTS, INC. Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly period ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-31747 (Exact name of registrant as specified in its charter) Maryland 52-0898545 (State or other jurisdiction of (I.R.S. ...

Core Viewpoint - Zacks Investment Research has initiated coverage of Universal Safety Products, Inc. with a "Neutral" recommendation, reflecting a mixed outlook for the company despite its progress in the residential safety products sector [1] Company Overview - Universal Safety Products, based in Owings Mills, MD, designs and markets residential safety products, including smoke alarms, carbon monoxide alarms, and related electrical devices, distributed through retail and professional channels [2] Financial Performance - The company's earnings profile has weakened significantly following the divestiture of its smoke and carbon monoxide alarm business in May 2025, leading to a loss of primary revenue sources and compressed operating leverage [3] - Elevated overhead costs and higher receivable-related reserves have negatively impacted near-term profitability, despite temporary margin boosts from tariff-related adjustments [3] Growth Factors - Key factors driving future growth include balance sheet improvements that have reduced near-term financial risk, such as the elimination of short-term factoring debt and enhanced liquidity [4] - The completion of a special cash dividend has clarified capital allocation priorities, while additional financing has extended the company's operating runway, allowing for strategic evaluations and support for new business directions [4] Market Positioning - Universal Safety Products' stock has outperformed industry peers and the broader market over the past year, indicating investor recognition of the company's improved financial position post-divestiture [6] - However, the stock's valuation reflects caution due to the absence of a stable operating business and uncertainties regarding future execution, balancing both balance sheet improvements and transition risks [6] Additional Insights - The company has a modest market capitalization of $13.4 million, indicating its position within a promising yet risky market segment [7]

Financial Performance - Net sales for the three months ended September 30, 2025, were $759,999, a decrease of $6,443,270 (89.4%) compared to $7,203,269 in the prior year due to the sale of the smoke and carbon monoxide alarm business[69]. - For the six months ended September 30, 2025, net sales were $4,584,246, a decrease of $7,217,539 (61.2%) compared to $11,801,785 in the prior year[76]. Profitability - Gross profit margin increased to 60.4% for the quarter ended September 30, 2025, compared to 27.7% for the same quarter in 2024, primarily due to a refund of previously recorded tariffs[70]. - The gross profit margin for the six months ended September 30, 2025, was 25.2%, down from 26.1% in the same period of 2024[77]. - The company reported a net loss of $999,780 for the quarter ended September 30, 2025, compared to net income of $576,978 in the same quarter of the previous year, a decrease of $1,576,758 (273.3%) in net income[75]. - The company reported net income of $810,541 for the six months ended September 30, 2025, an increase of $675,769 (501.4%) compared to $134,772 in the same period of the previous year, driven by the gain on the sale of the smoke and carbon monoxide business[81]. Expenses - Selling, general and administrative expenses rose to $1,311,187 for the three months ended September 30, 2025, representing 172.5% of net sales, up from 16.8% in the prior year[72]. - Selling, general and administrative expenses for the six months ended September 30, 2025, were $2,424,490, accounting for 52.9% of sales, up from 22.1% in the prior year[78]. Cash Flow - Operating activities provided cash of $3,940,773 for the six months ended September 30, 2025, primarily due to a decrease in accounts receivable and inventories[82]. Strategic Actions - The company closed the asset sale to Feit Electric Company on May 22, 2025, allowing it to focus on importing and marketing other product lines[67].

Core Viewpoint - Universal Safety Products, Inc. reported significant declines in sales and a net loss for the fiscal second quarter and six months ended September 30, 2025, primarily due to the sale of its smoke and carbon monoxide alarm business in May 2025 [2][4]. Financial Performance - For the three months ended September 30, 2025, sales decreased by 89.4% to $759,999 from $7,203,269 in the same period last year. The company reported a net loss of $999,780, or $0.43 per share, compared to a net income of $576,978, or $0.25 per share, for the same period last year [2][8]. - For the six months ended September 30, 2025, sales decreased by 61.2% to $4,584,246 from $11,801,785 in the same period last year. The company reported a net income of $810,541, or $0.35 per basic share and $0.33 per diluted share, compared to a net income of $134,772, or $0.06 per share, for the corresponding 2024 period [3][9]. Business Operations - The CEO, Harvey B. Grossblatt, indicated that the sales decreases were primarily due to the divestiture of the smoke and carbon monoxide alarm business. The loss in the three-month period was attributed to increased reserves for accounts receivable and significantly lower sales. The gain for the six-month period was mainly due to the sale of the smoke and CO alarm business [4][5]. Balance Sheet Overview - As of September 30, 2025, total assets were $6,769,836, a decrease from $12,936,686 in the previous year. Cash increased to $5,225,625 from $234,199, while accounts receivable dropped to $707,464 from $6,460,368 [11][13]. - Total current liabilities were $3,108,371, down from $7,838,887 the previous year, with a notable reduction in accounts payable [11][13].

Core Insights - Vanguard Mining Corp. has received its Environmental License from the Ministry of Environment and Sustainable Development (MADES) for the Yuty Prometeo Uranium Project in Paraguay, marking a significant step in the regulatory process for exploration and development [1][2][3] Company Overview - Vanguard Mining Corp. is focused on the discovery and development of high-value strategic minerals, particularly uranium, in the United States and Paraguay [17] - The company aims to build a strong uranium portfolio in South America, leveraging modern exploration techniques in a historically prospective district [3] Project Details - The Yuty Prometeo Uranium Project encompasses approximately 90,000 hectares (222,395 acres) in the Paraná Basin, a region recognized for its uranium potential [8][10] - The project includes four concessions: three San Jose concessions and one Prometeo concession, with the Prometeo Concession directly adjacent to Uranium Energy Corp.'s Yuty Project, which has an indicated resource of 8.96 million pounds of U₃O₈ [8][11] - Historical drilling on the Prometeo block has shown uranium values ranging from 0.05% to 0.10% U₃O₈, indicating potential for further exploration [11] Regulatory Milestones - Securing the MADES prospection permit is a key milestone that de-risks the path toward full exploration and development authorization for the Yuty Prometeo Project [2][3] - The Paraguayan government is recognized for its political stability and investor-friendly regulatory environment, making it an attractive jurisdiction for mining companies [16] Exploration Activities - The company's technical advisors recently visited the Vice Ministry of Mines and Energy (VMME) core shed in Asunción to review core samples from the project, preparing for upcoming exploration activities [3]

Core Insights - Energy Fuels is transitioning from its historical role in uranium to building an integrated platform focused on critical minerals [1] Company Overview - Energy Fuels is recognized for its significant historical involvement in the uranium sector [1] - The company is actively developing a comprehensive strategy to incorporate critical minerals into its operations [1] Investment Perspective - The investment approach emphasizes value companies with strong long-term potential, indicating a focus on sustainable growth [1]

Price Movements and Company Developments - Smart Digital Group Limited (NASDAQ:SDM) has seen a dramatic price drop of approximately 86.93%, falling to $1.77 from a year high of $29.4, with plans to create a diversified cryptocurrency asset pool focusing on major cryptocurrencies like Bitcoin and Ethereum [2] - Pop Culture Group Co., Ltd (CPOP) experienced a price decrease of 54.15%, moving down to $0.93, with increased trading volume suggesting growing investor interest or concern, despite no recent updates explaining the decline [3] - EUDA Health Holdings Limited (EUDAW) faced a 37.16% price fall to $0.08, with notably low trading volume indicating a lack of significant investor engagement and possible uncertainty [4] - Kuke Music Holding Limited (NYSE:KUKE) saw a 34.74% decrease in stock price to $0.77, despite acquiring a controlling interest in Naxos Music Group, with increased trading activity possibly linked to market sentiment [5] - Universal Safety Products, Inc. (NYSE American:UUU) experienced a 32.86% drop in stock price to $4.25, while declaring a one-time special cash dividend of $1.00 per share, with higher trading volume indicating a shift in investor sentiment [6] Market Dynamics and Investor Sentiment - The significant price movements among these companies appear to be influenced by a combination of market dynamics, investor sentiment, and possibly undisclosed internal developments [7]

As filed with the Securities and Exchange Commission on September 19, 2025 Registration No. 333-290304 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Universal Safety Products, Inc. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) Maryland 5065 52-0898545 (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Iden ...

As filed with the Securities and Exchange Commission on September 16, 2025 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Universal Safety Products, Inc. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Industrial Classification Code Number) Maryland 5065 52-0898545 (I.R.S. Employer Identification No.) 11407 Cro ...

Core Viewpoint - Universal Safety Products, Inc. has declared a one-time special cash dividend of $1.00 per share, marking a significant return of value to shareholders following the successful sale of assets to Feit Electric Company earlier this year [1][2]. Dividend Announcement - The record date for the special dividend is September 18, 2025, with the payment date set for September 25, 2025 [1]. - The special dividend represents more than 20% of the stock price, leading to the stock trading with "due bills" from the record date through the payment date [2]. Shareholder Information - Shareholders selling their stock during the Dividend Right Period (September 18, 2025, to September 25, 2025) will forfeit their right to the special dividend [3]. - Due bills will be settled between brokers, and the company has no obligation regarding the due bill amount or processing [4]. Company Background - Universal Safety Products, Inc. is a distributor of safety and security devices, with over 56 years of experience in developing innovative products [5].