ASP Isotopes Inc. Responds To Short Seller “Report”

Core Viewpoint - ASP Isotopes Inc. strongly refutes the claims made by short seller Fuzzy Panda, asserting that the report contains inaccuracies and misleading conclusions about the company's technologies and business operations [2][22]. Company Technology - The company emphasizes that its quantum enrichment technology is significantly different from outdated AVLIS technology, featuring advanced spectroscopy and laser systems [4][6]. - ASP Isotopes has successfully produced semi-finished enriched Ytterbium-176 and expects to achieve 99.75% enrichment for commercial sale in 2025 [4][22]. - The company’s aerodynamic separation process technology is currently operational in South Africa for the enrichment of Carbon-14 and Silicon-28, which was not mentioned in Fuzzy Panda's report [7][19]. Business Developments - ASP Isotopes has entered a term sheet with TerraPower for the construction of a uranium enrichment facility, which is expected to produce HALEU and is not a zero-cost agreement as claimed by Fuzzy Panda [8][9]. - A memorandum of understanding with the South African Nuclear Energy Corporation (Necsa) has been signed to collaborate on advanced nuclear fuel production, with plans for a new entity to be formed in South Africa [9][12]. Regulatory and Licensing - The company clarifies that it does not require a U.S. Nuclear Regulatory Commission license for uranium enrichment activities in South Africa, as the local regulatory framework will apply [11][12]. - ASP Isotopes is committed to obtaining all necessary permits and licenses for its uranium enrichment operations in South Africa [12]. Intellectual Property - The company relies on trade secrets and non-disclosure agreements for intellectual property protection, as patenting sensitive nuclear technologies is complex and often not feasible [13][14]. - ASP Isotopes has not pursued patents due to the sensitive nature of its technology and the potential limitations on public disclosure [14]. Financial Performance - Fuzzy Panda's claims regarding PET Labs' financial losses are incorrect; the company has generated positive EBITDA in recent years [15]. - The acquisition of PET Labs was not made to a related party, countering Fuzzy Panda's assertions [15]. Company Operations - ASP Isotopes has a minimal physical presence in the U.S. and operates primarily from South Africa, where it is commissioning three isotope enrichment facilities [16][19]. - The company has approximately 126 employees in South Africa, with a focus on research, development, and manufacturing [19]. Investor Relations - The company values transparency and plans to host an Investor Access Event in South Africa in January 2025 to engage with investors [21][22]. - ASP Isotopes' stockholder base includes approximately 31% institutional investors, indicating a reputable investor profile [20].