NNEMEDIUM SIGNALOPERATIONAL10-K

NNE expanded its outstanding shares substantially and broadened its strategic focus from micro nuclear reactors to a more comprehensive nuclear services business model.

The company issued significant additional equity, increasing shares outstanding from 36.6M to 50.5M, likely for capital raising purposes to fund its expanding operations. The language changes indicate NNE is evolving from a narrow micro reactor focus to a broader nuclear services platform, including fuel supply chain development, transportation capabilities, and consulting services across the nuclear industry.

Comparing 2025-12-18 vs 2024-12-30View on EDGAR →
FINANCIAL ANALYSIS

The balance sheet shows total liabilities increased meaningfully from $3.5M to $6.1M, suggesting expanded operational commitments or debt obligations. Combined with the substantial increase in shares outstanding, this points to a company in active expansion mode, taking on additional financial obligations while raising capital through equity issuance. The overall financial picture suggests NNE is investing heavily in building out its broader nuclear services capabilities.

FINANCIAL STATEMENT CHANGES
Total Liabilities
Balance Sheet
+74.5%
$3.5M→$6.1M

Liabilities grew 74.5% — significant increase in debt or obligations, assess impact on financial flexibility.

LANGUAGE CHANGES
NEW — 2025-12-18
PRIOR — 2024-12-30
ADDED
As of December 16, 2025, there were 50,474,294 shares of common stock issued and outstanding.
Our ability to source or internally develop the necessary fuel and material supply chain to power our next generation of advanced nuclear reactors.
Our ability to source or internally develop the required transportation capabilities to move our reactors, their fuel, and other special materials critical to the commercial deployment of our reactor systems.
Our ability to build internally, and to externally provide, nuclear service support and consultation services for the expanding and resurgent nuclear energy industry, both domestically and internationally.
The ability of key third party collaborators including, without limitation, The University of Illinois Urbana-Champaign, to perform their obligations to us and meet goals and timelines as expected.
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REMOVED
As of December 27, 2024, there were 36,596,849 shares of common stock issued and outstanding.
Our ability to develop a domestic Low Enriched Uranium (LEU) and High-Assay Low-Enriched Uranium (HALEU) fuel supply chain to supply the next generation of advanced nuclear reactors and our own systems.
Our ability to produce a regulatorily licensed, high-capacity HALEU transportation package, capable of moving commercial quantities of HALEU fuel.
Our ability to provide nuclear service support and consultation services for the expanding and resurgent nuclear energy industry, both domestically and internationally.
Assumptions relating to the size of the market for our micro nuclear reactors.
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