Despite zero revenues and only $6 mln in expenses in FY23, this company manages to trade over $45 mln a day on the NASDAQ. Rare growth opportunity? We think not.
We see this as a particularly lazy stock promote. A team of mining cronies managed to take a back-of-the-envelope nuclear idea public with zero revenues, zero patents, zero plant and equipment, and zero employees. Investor money is spent on insider self-enrichment and on stock promotion. For nuclear advice, the company relies on General Wesley Clark, the apparently unknowing frontman for Rodman & Renshaw frauds, and disgraced ex–Governor Andrew Cuomo, not a nuclear scientist. Buyer beware!