US Nuclear Corp has replaced its audit firm Fruci & Associates II, PLLC with Simon & Edward LLP effective October 29, 2025. The company simultaneously announced a substantial reduction in third quarter debt approaching $800,000 as part of ongoing financial restructuring efforts. Nikki Truax, Director of Operations of Overhoff Technology, the company's primary manufacturing and sales operation, emphasized the dual focus on growth and cost management. "We are actively looking to add an experienced VP of Sales, along with Sales Reps and Distributors to help service our growing customer list," Truax stated, indicating expansion plans despite broader cost-cutting measures.
The company continues to pursue aggressive expense reduction targets, aiming to cut overall expenses by an additional 20-30% by the end of December. This financial discipline complements the debt reduction strategy and balance sheet strengthening efforts that have been central to the company's recent operational focus. Truax expressed optimism about the company's financial trajectory, noting "As we previously stated, we anticipate our 3rd quarter results to be profitable, and we're looking for a profitable year ahead!" This forward-looking statement suggests confidence in both the immediate quarterly performance and the company's longer-term financial sustainability.
The audit firm transition to Simon & Edward LLP represents a significant corporate governance development for the publicly traded company. Such changes in auditing relationships often signal strategic shifts in financial oversight and reporting practices, though the specific reasons for the change were not detailed in the announcement. The combination of audit firm replacement, substantial debt reduction, and targeted expense cutting reflects a comprehensive approach to financial management. These measures appear designed to position the company for improved operational efficiency and potentially enhanced investor confidence as it navigates the competitive nuclear technology sector.
For investors and market observers, these developments suggest a company in active transition, balancing growth initiatives with financial consolidation. The simultaneous announcement of hiring plans alongside cost reduction targets indicates a strategic approach to resource allocation that prioritizes both market expansion and fiscal responsibility. The company's ability to maintain growth momentum while implementing significant financial restructuring will be closely watched by stakeholders in the nuclear technology industry.
