ASP Isotopes Inc. Responds to Short Seller Report

Rhea-AI Summary

ASP Isotopes has issued a response to a short seller report published by Fuzzy Panda Research on November 26, 2024. The company strongly disputes the report's claims, stating they contain inaccurate information and misleading speculation about the company's technology, leadership, and growth prospects. ASP Isotopes is currently commissioning three isotope enrichment facilities in South Africa, focusing on: Carbon-14 for healthcare and agrochemicals, Silicon-28 for semiconductors in AI and quantum computing, and Ytterbium-176 for radio-oncology therapies. The company will address these matters in a fireside chat with Canaccord Genuity's analyst on November 27, 2024.

Positive

• Company has three isotope enrichment facilities under commissioning in South Africa
• Facilities target diverse high-value markets (healthcare, semiconductors, radio-oncology)

Negative

• Company faces serious allegations from short seller that could impact stock price
• Short seller report questions company's technology and leadership credibility

Insights

Financial Analyst

The short seller report from Fuzzy Panda targeting ASP Isotopes represents a significant market event that warrants careful scrutiny. The company's three isotope enrichment facilities in South Africa, focusing on Carbon-14, Silicon-28 and Ytterbium-176, are central to its business model and future revenue potential. While the company dismisses the short seller claims as speculative and inaccurate, the market's reaction and potential volatility in the stock price could create significant near-term uncertainty.

The planned fireside chat with Canaccord Genuity suggests proactive management engagement to address investor concerns. However, the lack of specific refutation of individual claims in the short report and reliance on general statements about inaccuracies raises some concerns. The company's pre-revenue status and complex technology make it particularly vulnerable to market sentiment shifts.

Tech Expert

The isotope enrichment technology portfolio of ASP Isotopes targets high-value applications in emerging tech sectors. The Silicon-28 enrichment facility is particularly noteworthy as it addresses a critical need in semiconductor advancement for AI and quantum computing applications. Pure Silicon-28 can significantly improve thermal conductivity and reduce quantum decoherence, potentially enabling more powerful and efficient computing systems.

The Carbon-14 and Ytterbium-176 facilities also target growing markets in healthcare and radiotherapy. However, the short seller challenge raises questions about the technological readiness and scalability of these facilities. The company's ability to demonstrate operational capabilities and meet production timelines will be important for maintaining market confidence.

WASHINGTON, Nov. 26, 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 issued the following statement in response to a short seller report published on November 26, 2024 by Fuzzy Panda Research (“Fuzzy Panda”). Fuzzy Panda is a self-proclaimed short seller who stands to realize significant gains if the price of ASP Isotopes’s stock declines.

Based upon ASP Isotopes’s and its legal counsel’s preliminary review and evaluation of the report, the Company believes the report includes speculative conjecture and claims that are inaccurate or filled with innuendo in an attempt to mislead investors about ASP Isotopes’s technology, leadership and future growth. Investors are encouraged to review the Company’s public filings made with the SEC.

ASP Isotopes is in the process of commissioning three isotope enrichment facilities in South Africa and has hosted commercial partners and investors at these facilities. The first facility is scheduled to enrich Carbon-14 for use in healthcare and agrochemicals. The second facility is scheduled to enrich Silicon-28, which the Company believes will enable faster, more efficient semiconductors for use in artificial intelligence and quantum computing. The third facility is scheduled to enrich Ytterbium-176, a critically important raw material used in the production of radio-oncology therapies.

ASP Isotopes values transparency and open communication. Canaccord Genuity’s analyst, George Gianarikas, will host a fire side chat with ASP Isotopes’s Chairman and Chief Executive Officer, Paul Mann, at 10am EST on November 27, 2024. Please contact your Canaccord Genuity sales representative for dial in details.

About ASP Isotopes Inc.

ASP Isotopes Inc. is a development stage advanced materials company dedicated to the development of technology and processes to produce isotopes for use in multiple industries. The Company employs proprietary technology, the Aerodynamic Separation Process (“ASP technology”). The Company’s initial focus is on producing and commercializing highly enriched isotopes for the healthcare and technology industries. The Company also plans to enrich isotopes for the nuclear energy sector using Quantum Enrichment technology that the Company is developing. The Company has isotope enrichment facilities in Pretoria, South Africa, dedicated to the enrichment of isotopes of elements with a low atomic mass (light isotopes).

There is a growing demand for isotopes such as Silicon-28 for enabling quantum computing; Molybdenum-100, Molybdenum-98, Zinc-68, Ytterbium-176, and Nickel-64 for new, emerging healthcare applications, as well as Chlorine-37, Lithium-6, Lithium-7 and Uranium-235 for green energy applications. The ASP Technology (Aerodynamic Separation Process) is ideal for enriching low and heavy atomic mass molecules. For more information, please visit www.aspisotopes.com.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including, without limitation, statements relating to the future of the Company’s enrichment technologies, the market demand for enriched isotopes, and the commencement of supply of enriched isotopes to customers. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Forward-looking statements can be identified by words such as “believes,” “plans,” “anticipates,” “expects,” “estimates,” “projects,” “will,” “may,” “might,” and words of a similar nature. Examples of forward-looking statements include, among others but are not limited to, statements we make regarding expected operating results, such as future revenues and prospects from the potential commercialization of isotopes, future performance under contracts, and our strategies for product development, engaging with potential customers, market position, and financial results. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict, many of which are outside our control. Our actual results, financial condition, and events may differ materially from those indicated in the forward-looking statements based upon a number of factors. Forward-looking statements are not a guarantee of future performance or developments. You are strongly cautioned that reliance on any forward-looking statements involves known and unknown risks and uncertainties. Therefore, you should not rely on any of these forward-looking statements. There are many important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements, including the outcomes of various strategies and projects undertaken by the Company; the potential impact of laws or government regulations or policies in South Africa, the United Kingdom or elsewhere; our reliance on the efforts of third parties; our ability to complete the construction and commissioning of our enrichment plants or to commercialize isotopes using the ASP technology or the Quantum Enrichment Process; our ability to obtain regulatory approvals for the production and distribution of isotopes; the financial terms of any current and future commercial arrangements; our ability to complete certain transactions and realize anticipated benefits from acquisitions; contracts, dependence on our Intellectual Property (IP) rights, certain IP rights of third parties; and the competitive nature of our industry. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise. This press release includes market and industry data and forecasts that we obtained from internal research, publicly available information and industry publications and surveys. Industry publications and surveys generally state that the information contained therein has been obtained from sources believed to be reliable. Unless otherwise noted, statements as to our potential market position relative to other companies are approximated and based on third-party data and internal analysis and estimates as of the date of this press release. We have not independently verified this information, and it could prove inaccurate. Industry and market data could be wrong because of the method by which sources obtained their data and because information cannot always be verified with certainty due to the limits on the availability and reliability of raw data, the voluntary nature of the data-gathering process and other limitations and uncertainties. In addition, we do not know all of the assumptions regarding general economic conditions or growth that were used in preparing the information and forecasts from sources cited herein. No information in this press release should be interpreted as an indication of future success, revenues, results of operation, or stock price. All forward-looking statements herein are qualified by reference to the cautionary statements set forth herein and should not be relied upon.

Contacts

Jason Assad– Investor relations
Email: Jassad@aspisotopes.com
Telephone: 561-709-3043

FAQ

What allegations did Fuzzy Panda make against ASP Isotopes (ASPI)?

The specific allegations were not detailed in the press release, but ASP Isotopes states they contain inaccurate information and misleading speculation about the company's technology, leadership, and future growth prospects.

How many isotope enrichment facilities is ASP Isotopes (ASPI) developing in South Africa?

ASP Isotopes is commissioning three isotope enrichment facilities in South Africa, focusing on Carbon-14, Silicon-28, and Ytterbium-176 production.

When will ASP Isotopes (ASPI) address the short seller report?

ASP Isotopes will address these matters in a fireside chat with Canaccord Genuity's analyst George Gianarikas on November 27, 2024, at 10am EST.