ASP Isotopes Inc. Common Stock (ASPI) 10-Q 19 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 12, 2024
Cover [Abstract]
Entity Registrant Name	ASP Isotopes Inc.
Entity Central Index Key	0001921865
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2024
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		66,686,941
Entity File Number	001-41555
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	87-2618235
Entity Address Address Line 1	601 Pennsylvania Avenue NW
Entity Address Address Line 2	South Building
Entity Address City Or Town	Washington
Entity Address State Or Province	DC
Entity Address Postal Zip Code	20004
City Area Code	202
Local Phone Number	756-2245
Security 12b Title	Common Stock, par value $0.01per share
Trading Symbol	ASPI
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity Address Address Line 3	Suite 900

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash	$ 28,262,332	$ 7,908,181
Accounts receivable	515,450	216,504
Receivable from noncontrolling interests	0	721,548
Prepaid expenses and other current assets	3,248,432	1,664,023
Deferred offering costs	45,000	0
Total current assets	32,071,214	10,510,256
Property and equipment, net	17,774,788	10,712,839
Operating lease right-of-use assets, net	1,417,402	1,258,701
Goodwill	3,289,163	3,267,103
Other noncurrent assets	208,367	1,793,014
Total assets	54,760,934	27,541,913
Current liabilities:
Accounts payable	2,432,857	1,111,819
Accrued expenses	2,455,510	1,311,245
Notes payable	31,610	470,396
Finance lease liabilities - current	120,595	61,941
Operating lease liabilities - current	541,796	336,564
Deferred revenue	882,000	882,000
Other current liabilities	1,240,724	1,500,000
Share liability	306,000	0
Total current liabilities	8,011,092	5,673,965
Deferred tax liabilities	71,093	110,578
Convertible notes payable, at fair value	29,086,669	0
Finance lease liabilities - noncurrent	562,566	207,092
Operating lease liabilities - noncurrent	1,014,774	1,066,647
Other liabilities	1,653,000	1,653,000
Total liabilities	40,399,194	8,711,282
Stockholders' equity
Preferred stock, $0.01 par value; 10,000,000 shares authorized, no shares issued and outstanding as of June 30, 2024 and December 31, 2023	0	0
Common stock, $0.01 par value; 500,000,000 shares authorized, 52,132,833 and 48,923,276 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively	521,329	489,233
Additional paid-in capital	50,911,752	40,567,003
Accumulated deficit	(39,720,310)	(23,839,300)
Accumulated other comprehensive loss	(701,291)	(920,982)
Total ASP Isotopes stockholders' equity	11,011,480	16,295,954
Noncontrolling interests	3,350,260	2,534,677
Total stockholders' equity	14,361,740	18,830,631
Total liabilities and stockholders' equity	$ 54,760,934	$ 27,541,913

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Condensed Consolidated Balance Sheets
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	52,132,833	48,923,276
Common stock, shares outstanding	52,132,833	48,923,276
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited)
Revenue	$ 1,022,299	$ 0	$ 1,862,653	$ 0
Cost of goods sold	601,275	0	1,162,759	0
Gross profit	421,024	0	699,894	0
Operating expenses:
Research and development	473,302	252,880	688,436	460,214
Selling, general and administrative	7,405,178	4,094,664	13,283,724	7,612,154
Total operating expenses	7,878,480	4,347,544	13,972,160	8,072,368
Loss from operations	(7,457,456)	(4,347,544)	(13,272,266)	(8,072,368)
Other (expense) income:
Foreign exchange transaction gain (loss)	26,147	0	1,804	(935)
Change in fair value of share liability	164,000	60,100	(54,000)	170,385
Change in fair value of convertible notes payable	(1,574,816)	0	(2,528,526)	0
Interest income	43,530	1,098	55,718	1,494
Interest expense	(69,078)	0	(82,866)	0
Total other (expense) income	(1,410,217)	61,198	(2,607,870)	170,944
Loss before income tax (expense) benefit	(8,867,673)	(4,286,346)	(15,880,136)	(7,901,424)
Income tax provision	(13,769)	0	33,850	0
Net loss before allocation to noncontrolling interests	(8,881,442)	(4,286,346)	(15,846,286)	(7,901,424)
Less: Net income attributable to noncontrolling interests	51,483	0	34,724	0
Net loss attributable to ASP Isotopes Inc. shareholders before deemed dividend on inducement warrant for common stock	(8,932,925)	(4,286,346)	(15,881,010)	(7,901,424)
Deemed dividend on inducement warrant for common stock	(2,779,659)	0	(2,779,659)	0
Net loss attributable to ASP Isotopes Inc. shareholders	$ (11,712,584)	$ (4,286,346)	$ (18,660,669)	$ (7,901,424)
Net loss per share, attributable to ASP Isotopes Inc. shareholders, basic and diluted	$ (0.24)	$ (0.14)	$ (0.40)	$ (0.27)
Weighted average shares of common stock outstanding, basic and diluted	49,136,009	29,796,065	46,848,926	29,535,060
Comprehensive loss:
Net loss before allocation to noncontrolling interests	$ (8,881,442)	$ (4,286,346)	$ (15,846,286)	$ (7,901,424)
Foreign currency translation	763,420	(472,673)	219,691	(1,476,526)
Total comprehensive loss before allocation to noncontrolling interests	(8,118,022)	(4,759,019)	(15,626,595)	(9,377,950)
Less: Comprehensive income attributable to noncontrolling interests	52,303	0	44,773	0
Total comprehensive loss	$ (8,170,325)	$ (4,759,019)	$ (15,671,368)	$ (9,377,950)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Stockholders Equity (Unaudited) - USD ($)	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive (Loss) Income	Accumulated Deficit	Noncontrolling Interest
Balance, shares at Dec. 31, 2022		35,907,127
Balance, amount at Dec. 31, 2022	$ 9,817,461	$ 359,071	$ 16,756,426	$ 255,030	$ (7,553,066)	$ 0
Issuance of common stock and warrants, net of issuance costs of $506,390, shares		3,164,557
Issuance of common stock and warrants, net of issuance costs of $506,390, amount	4,493,610	$ 31,646	4,461,964	0	0	0
Cancellation of common stock received in exchange for issuance of preferred stock in subsidiary, shares		(3,000,000)
Cancellation of common stock received in exchange for issuance of preferred stock in subsidiary, amount	0	$ (30,000)	30,000	0	0	0
Issuance of common stock in lieu of commissions, shares		57,250
Issuance of common stock in lieu of commissions, amount	75,570	$ 573	74,997	0	0	0
Issuance of restricted common stock, shares		1,256,750
Issuance of restricted common stock, amount	0	$ 12,567	(12,567)	0	0	0
Stock-based compensation	2,144,099	0	2,144,099	0	0	0
Foreign currency translation	(1,003,853)	0	0	(1,003,853)	0	0
Net loss	(3,615,078)	$ 0	0	0	(3,615,078)	0
Balance, shares at Mar. 31, 2023		37,385,684
Balance, amount at Mar. 31, 2023	11,911,809	$ 373,857	23,454,919	(748,823)	(11,168,144)	0
Balance, shares at Dec. 31, 2022		35,907,127
Balance, amount at Dec. 31, 2022	9,817,461	$ 359,071	16,756,426	255,030	(7,553,066)	0
Foreign currency translation	(1,476,526)
Net loss	(7,901,424)
Balance, shares at Jun. 30, 2023		37,385,684
Balance, amount at Jun. 30, 2023	10,153,699	$ 373,857	26,455,828	(1,221,496)	(15,454,490)	0
Balance, shares at Mar. 31, 2023		37,385,684
Balance, amount at Mar. 31, 2023	11,911,809	$ 373,857	23,454,919	(748,823)	(11,168,144)	0
Stock-based compensation	2,374,686	0	2,374,686	0	0	0
Foreign currency translation	(472,673)	0	0	(472,673)	0	0
Net loss	(4,286,346)	0	0	0	(4,286,346)	0
Settlement of liabilities with related party	626,223	$ 0	626,223	0	0	0
Balance, shares at Jun. 30, 2023		37,385,684
Balance, amount at Jun. 30, 2023	10,153,699	$ 373,857	26,455,828	(1,221,496)	(15,454,490)	0
Balance, shares at Dec. 31, 2023		48,923,276
Balance, amount at Dec. 31, 2023	18,830,631	$ 489,233	40,567,003	(920,982)	(23,839,300)	2,534,677
Stock-based compensation	1,713,654	0	1,713,654	0	0	0
Foreign currency translation	(543,729)	0	0	(543,729)	0	0
Net loss	(6,964,844)	$ 0	0	0	(6,948,085)	(16,759)
Retired unvested restricted shares, shares		(325,000)
Retired unvested restricted shares, amount	0	$ (3,250)	3,250	0	0	0
Distribution to noncontrolling interest of VIE	(8,694)	$ 0	0	0	0	(8,694)
Balance, shares at Mar. 31, 2024		48,598,276
Balance, amount at Mar. 31, 2024	13,027,018	$ 485,983	42,283,907	(1,464,711)	(30,787,385)	2,509,224
Balance, shares at Dec. 31, 2023		48,923,276
Balance, amount at Dec. 31, 2023	18,830,631	$ 489,233	40,567,003	(920,982)	(23,839,300)	2,534,677
Foreign currency translation	219,691
Net loss	(15,846,286)
Balance, shares at Jun. 30, 2024		52,132,833
Balance, amount at Jun. 30, 2024	14,361,740	$ 521,329	50,911,752	(701,291)	(39,720,310)	3,350,260
Balance, shares at Mar. 31, 2024		48,598,276
Balance, amount at Mar. 31, 2024	13,027,018	$ 485,983	42,283,907	(1,464,711)	(30,787,385)	2,509,224
Issuance of restricted common stock, shares		250,000
Issuance of restricted common stock, amount	0	$ 2,500	(2,500)	0	0	0
Stock-based compensation	2,518,016	0	2,518,016	0	0	0
Foreign currency translation	763,420	0	0	763,420	0	0
Net loss	(8,881,442)	0	0	0	(8,932,925)	51,483
Distribution to noncontrolling interest of VIE	(18,422)	$ 0	0	0	0	(18,422)
Issuance of common stock from warrant exercise, shares		3,164,557
Issuance of common stock from warrant exercise, amount	5,537,975	$ 31,646	5,506,329	0	0	0
Issuance of common stock to consultant, shares		60,000
Issuance of common stock to consultant, amount	183,600	$ 600	183,000	0	0	0
Settlement of liabilities with consultants, shares		60,000
Settlement of liabilities with consultants, amount	183,600	$ 600	183,000	0	0	0
Board fee liabilities to be settled with shares	240,000	0	240,000	0	0	0
Contribution from noncontrolling interest in VIE	807,975	$ 0	0	0	0	807,975
Balance, shares at Jun. 30, 2024		52,132,833
Balance, amount at Jun. 30, 2024	$ 14,361,740	$ 521,329	$ 50,911,752	$ (701,291)	$ (39,720,310)	$ 3,350,260

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited)	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Cash flows from Operating activities
Net loss	$ (15,846,286)	$ (7,901,424)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation	249,714	167
Loss on disposal of property and equipment	1,666	0
Stock-based compensation	4,231,670	4,518,785
Convertible note payable for non-cash issuance costs	621,915	0
Share liability for non-cash consultant expense	619,200	496,300
Change in fair value of share liability	54,000	(170,385)
Change in fair value of convertible notes payable	2,528,526	0
Change in right-of-use lease asset	217,997	32,553
Change in deferred tax liabilities	(39,068)	0
Changes in operating assets and liabilities:
Accounts receivable	(288,878)	0
Prepaid expenses and other current assets	(1,566,707)	294,971
Other noncurrent assets	0	(48,747)
Accounts payable	223,828	(351,830)
Accrued expenses	1,425,242	446,564
Operating lease liability	(224,134)	(18,844)
Other current liabilities	(303,941)	0
Net cash used in operating activities	(8,095,256)	(2,701,890)
Cash flows from investing activities
Purchases of property and equipment	(3,867,903)	(508,607)
Net cash used in investing activities	(3,867,903)	(508,607)
Cash flows from financing activities
Proceeds from issuance of common stock	5,537,975	5,000,000
Proceeds from noncontrolling interest in VIE	807,975	0
Proceeds from collection of receivable from noncontrolling interest in VIE	705,403	0
Common stock issuance costs	0	(506,390)
Payment of deferred issuance costs	(45,000)	0
Distribution to noncontrolling interest in VIE	(27,116)	0
Proceeds from issuance of convertible notes payable	25,936,228	0
Payment of notes payable	(438,569)	0
Payment of principal portion of finance leases	(61,929)	0
Net cash provided by financing activities	32,414,967	4,493,610
Net change in cash and cash equivalents	20,451,808	1,283,113
Effect of exchange rate changes on cash and cash equivalents	(97,657)	(46,088)
Cash and cash equivalents - beginning of period	7,908,181	2,389,140
Cash and cash equivalents - end of period	28,262,332	3,626,165
Supplemental disclosures of non-cash investing and financing activities:
Settlement of liabilities with related party	0	626,223
Right-of-use asset obtained in exchange for operating lease liability	364,458	0
Right-of-use asset obtained in exchange for finance lease liability	501,389	0
Purchase of property and equipment included in accounts payable	1,100,179	318,900
Purchase of property and equipment included in other noncurrent liabilities	1,653,000	0
Deemed dividend on inducement warrant	2,779,659	0
Board fees to be settled with common stock	240,000	0
Issuance of common stock in lieu of commissions	$ 0	$ 75,750

Organization

Organization	6 Months Ended
	Jun. 30, 2024
Organization
Organization	1. Organization Description of Business ASP Isotopes Inc. was incorporated in the state of Delaware on September 13, 2021, and has its principal operations in Washington, DC. ASP Isotopes Inc.’s subsidiary ASP Isotopes Guernsey Limited (“ASP Guernsey”), has its principal operations in Guernsey. ASP Guernsey’s subsidiary, ASP Isotopes South Africa Proprietary Limited (“ASP South Africa”), has its principal operations in South Africa. ASP Rentals Proprietary Limited (“ASP Rentals”), a variable interest entity (“VIE”) of ASP South Africa, has its principal operations in South Africa. Enlightened Isotopes (Pty) Ltd (“Enlightened Isotopes”), an 80% owned subsidiary of ASP South Africa, was formed in March 2023 and began operations in January 2024. ASP Isotopes UK Ltd, a subsidiary of ASP Guernsey, was incorporated in July 2022. PET Labs Pharmaceuticals Proprietary Limited (“PET Labs”), a 51% owned subsidiary of ASP Isotopes Inc. operates in South Africa. ASP Isotopes Inc.’s subsidiary, Quantum Leap Energy LLC, was formed in the state of Delaware in September 2023 and began operations in February 2024. Quantum Leap Energy LLC’s subsidiary Quantum Leap Energy Proprietary Limited (“Quantum Leap Energy South Africa”), has its operations in South Africa. ASP Isotopes Inc., its subsidiaries and ASP Rentals are collectively referred to as “the Company” throughout these consolidated statements. The Company is a development stage advanced materials company dedicated to the development of technology and processes that, if successful, will allow for the enrichment of natural isotopes into higher concentration products, which could be used in several industries. The Company’s proprietary technology, the Aerodynamic Separation Process (“ASP technology”), originally developed by Klydon Proprietary Ltd (“Klydon”), is designed to enable the production of isotopes used in several industries. The Company’s initial focus is on the production and commercialization of enriched Carbon-14 (“C-14”), Molybdenum-100 (“Mo-100”) and Silicon-28 (“Si-28”). The Company has commissioned an isotope enrichment plant for the enrichment of C-14 located in Pretoria, South Africa, which will be ready for production upon the final installation of essential components, and we expect to start commercial supply of C-14 during second half of 2024. The Company anticipates completion and commissioning of a multi-isotope enrichment plant in Pretoria, South Africa during second half 2024, and the Company expects to start initial commercial supply of Si-28 during second half 2024. In addition, the Company has started planning additional isotope enrichment plants. The Company believes the C-14 it may develop using the ASP technology may be used in the development of new pharmaceuticals and agrochemicals. The Company believes that the Mo-100 it may develop using the ASP technology has significant potential advantages for use in the preparation of nuclear imaging agents by radiopharmacies and others in the medical industry. The Company believes the Si-28 it may develop using the ASP technology may be used to develop advanced semiconductors and in quantum computing. In addition, the Company is considering the future development of the ASP technology for the separation of Zinc-68, Xenon-129/136 for potential use in the healthcare end market, Germanium 70/72/74 for possible use in the semiconductor end market, and Chlorine-37 for potential use in the nuclear energy end market. The Company is also developing quantum enrichment technology to produce enriched Ytterbium-176 (“Yb-176”), Nickel-64, Lithium6, Lithium-7 and Uranium-235 (“U-235”). Quantum enrichment is an advanced isotope enrichment technique that is currently in development that uses lasers. The Company believes that the U-235 it may develop using quantum enrichment technology may be commercialized as a nuclear fuel component for use in the new generation of high-assay low-enriched uranium (HALEU)-fueled small modular reactors that are now under development for commercial and government uses. The Company’s first quantum enrichment facility is expected to complete construction and commissioning during fourth quarter 2024 with first commercial production of Yb-176 also expected during fourth quarter 2024. Liquidity The Company has experienced net losses and negative cash flows from operating activities since its inception. The Company incurred net losses of $15,846,286 and $7,901,424 for the six months ended June 30, 2024 and 2023, respectively. The Company currently expects that its cash and cash equivalents of $28,262,332 as of June 30, 2024, along with gross proceeds of $34,500,000 received in July 2024 through the issuance of common stock (see Note 12), will be sufficient to fund its operating expenses and capital requirements for more than 12 months from the date the financial statements are issued. The Company anticipates it will need to continue to raise capital through additional equity and/or debt financings and/or collaborative development agreements to fund its operations. There can be no assurance that the Company will achieve or sustain positive cash flows from operations or profitability. The Company is in the process of seeking additional debt and equity financing. However, such funding may not be available on a timely basis on terms acceptable to the Company, or at all. If the Company is unable to raise additional capital when required or on acceptable terms, the Company may be required to scale back or discontinue the advancement of product candidates, reduce headcount, reorganize, merge with another entity, or cease operations.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Basis of Presentation and Summary of Significant Accounting Policies
Basis of Presentation and Summary of Significant Accounting Policies	2. Basis of Presentation and Summary of Significant Accounting Policies Unaudited Financial Information The Company’s unaudited condensed consolidated financial statements included herein have been prepared in conformity with accounting principles generally accepted in the United States of America, or GAAP, and pursuant to the rules and regulations of the Securities and Exchange Commission, or SEC. In the Company’s opinion, the information furnished reflects all adjustments, all of which are of a normal and recurring nature, necessary for a fair presentation of the financial position and results of operations for the reported interim periods. The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. The results of operations for interim periods are not necessarily indicative of results to be expected for the full year or any other interim period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and related notes for the year ended December 31, 2023. Basis of Presentation and Use of Estimates The Company’s condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The preparation of the Company’s condensed consolidated financial statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and disclosure in the Company’s condensed consolidated financial statements and accompanying notes. The most significant estimates in the Company’s consolidated financial statements relate to stock based compensation, the accounting for the acquisition of PET Labs Pharmaceuticals and fair value measurement of the convertible notes payable and warrants. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may materially differ from these estimates and assumptions. Principles of consolidation The Company’s condensed consolidated financial statements include the accounts of ASP Isotopes Inc., its wholly-owned subsidiaries, the 80% owned Enlightened Isotopes, the 51% owned PET Labs Pharmaceuticals and the 24% owned VIE ASP Rentals. All intercompany balances and transactions have been eliminated in consolidation. Currency and currency translation The condensed consolidated financial statements are presented in U.S. dollars, the Company’s reporting currency. The functional currency of ASP Isotopes Inc. and ASP Guernsey is the U.S. dollar. The functional currency of the Company’s subsidiaries ASP South Africa and Quantum Leap Energy South Africa is the South African Rand. The functional currency of the 80% owned Enlighted Isotopes, the 51% owned PET Labs Pharmaceuticals and the 24% owned VIE ASP Rentals is the South African Rand. Adjustments that arise from exchange rate changes on transactions of each group entity denominated in a currency other than the functional currency are included in other income and expense in the consolidated statements of operations. Assets and liabilities of the entities with functional currency of South African Rand are recorded in South African Rand and translated into the U.S. dollar reporting currency of the Company at the exchange rate on the balance sheet date. Revenue and expenses of the entities with functional currency of South African Rand are recorded in South African Rand and translated into the U.S. dollar reporting currency of the Company at the average exchange rate prevailing during the reporting period. Resulting translation adjustments are recorded separately in stockholders’ equity as a component of accumulated other comprehensive (loss) income. Concentration of Credit Risk and other Risks Cash balances maintained at U.S. financial institutions may exceed the Federal Deposit Insurance Corporation (“FDIC”) insurance limit of $250,000 per depositor, per insured bank for each account ownership category. Although the Company currently believes that the financial institutions with whom it does business, will be able to fulfill their commitments to the Company, there is no assurance that those institutions will be able to continue to do so. The Company has not experienced any credit losses associated with its balances in such accounts for the six months ended June 30, 2024 and 2023. Our foreign subsidiaries held cash of approximately $1,885,000 and $1,963,000 as of June 30, 2024 and December 31, 2023, respectively, which is included in cash on the consolidated balance sheets. Our strategic plan does not require the repatriation of foreign cash in order to fund our operations in the U.S., and it is our current intention to indefinitely reinvest our foreign cash outside of the U.S. If we were to repatriate foreign cash to the U.S., we would be required to accrue and pay U.S. taxes in accordance with applicable U.S. tax rules and regulations as a result of the repatriation. Cash and Cash Equivalents The Company considers all highly liquid investments with original maturities at the date of purchase of three months or less to be cash equivalents. Cash and cash equivalents are stated at fair value and may include money market funds, U.S. Treasury and U.S. government-sponsored agency securities, corporate debt, commercial paper and certificates of deposit. The Company had cash equivalents of $146,500 in the form of money market funds as of June 30, 2024. The Company had no cash equivalents as of December 31, 2023. Segment Information As of December 31, 2023, we managed our operations as a single segment, specialist isotopes and related services. Beginning in 2024, primarily as a result of increased business activities of our subsidiary, Quantum Leap Energy LLC, we have two operating segments: (i) nuclear fuels, and (ii) specialist isotopes and related services. The nuclear fuels segment is focused on research and development of technologies and methods used to produce high-assay low-enriched uranium (HALEU) and Lithium-6 for the advanced nuclear fuels target end market. The specialist isotopes and related services segment is focused on research and development of technologies and methods used to separate high-value, low-volume isotopes (such as C-14, Mo-100 and Si-28) for highly specialized target end markets other than advanced nuclear fuels, including pharmaceuticals and agrochemicals, nuclear medical imaging and semiconductors, as well as services related to these isotopes, and this segment includes PET Labs Pharmaceuticals. The financial information is regularly reviewed by the chief operating decision maker (“CODM”) in deciding how to allocate resources. The Company’s CODM is its chief executive officer. The Company manages assets on a total company basis, not by operating segment, as the assets are shared or commingled. Therefore, the chief operating decision maker does not regularly review any asset information by operating segment and, accordingly, asset information is not reported on a segment basis. Select income statement information as of the three months ended June 30, 2024 and 2023 is as follows: Revenues Net Loss Before Allocation to Noncontrolling Interest Segment Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Specialist isotopes and related services $ 1,022,299 $ - $ (6,029,170 ) $ (4,286,346 ) Nuclear fuels - - (2,852,272 ) - $ 1,022,299 $ - $ (8,881,442 ) $ 4,286,346 ) Select income statement information as of the six months ended June 30, 2024 and 2023 is as follows: Revenues Net Loss Before Allocation to Noncontrolling Interest Segment Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Specialist isotopes and related services $ 1,862,653 $ - $ (10,915,007 ) $ (7,901,424 ) Nuclear fuels - - (4,931,279 ) - $ 1,862,653 $ - $ (15,846,286 ) $ (7,901,424 ) Fair Value of Financial Instruments Accounting guidance defines fair value, establishes a consistent framework for measuring fair value, and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the accounting guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The Company’s share liability (Note 12) is measured as a Level 1 fair value on a recurring basis and was $306,000 as of June 30, 2024. There was no share liability as of December 31, 2023. The Company’s convertible notes payable (Note 6) is measured as a Level 3 fair value on a recurring basis and was $29,086,669 as of June 30, 2024. There were no transfers among Level 1, Level 2 or Level 3 categories in the six months ended June 30, 2024. The following table provides a reconciliation of the Company’s liabilities measured at fair value on a recurring basis using significant unobservable inputs: Convertible Notes Payable Share Liability Balance as of December 31, 2022 $ - $ 140,455 Fair value at issuance - 669,700 Fair value adjustment - 194,540 Settlement of liability - (1,004,695 ) Balance as of December 31, 2023 - - Fair value at issuance 26,558,143 435,600 Fair value adjustment 2,528,526 54,000 Settlement of liability - (183,600 ) Balance as of June 30, 2024 $ 29,086,669 $ 306,000 The carrying amounts of accounts payable, accrued expenses and notes payable are considered to be representative of their respective fair values because of the short-term nature of those instruments. Revenue Recognition The Company’s revenue relates to PET Labs Pharmaceuticals, in which the Company acquired 51% ownership on October 31, 2023 (Note 11). The Company recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). The Company enters into transactions with radiopharmacy companies that are within the scope of ASC 606. The terms of these transactions include payment for delivery of nuclear medical doses for PET scanning in South Africa. Under ASC 606, an entity recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. To determine the appropriate amount of revenue to be recognized for arrangements determined to be within the scope of ASC 606, the Company performs the following five steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect consideration it is entitled to in exchange for the goods or services it transfers to the customer. The Company evaluates a transaction’s performance obligations to determine if promised goods or services in a contract to transfer a distinct good or service to the customer and are considered distinct when (i) the customer can benefit from the good or service on its own or together with other readily available resources and (ii) the promised good or service is separately identifiable from other promises in the contract. In assessing whether promised goods or services are distinct, the Company considers whether the goods or services are integral or dependent to other goods or services in the contract. The Company determines the transaction price based on the agreed government rates for the promised goods in the contract. The consideration is recognized as revenue when control is transferred for the related goods. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. The Company receives payments from its customers based on billing schedules established in each contract. Upfront payments and fees are recorded as deferred revenue upon receipt or when due until the Company performs its obligations under these arrangements. Amounts are recorded as accounts receivable when the Company’s right to consideration is unconditional. Accounts Receivable Accounts receivable are stated at the amount management expects to collect from outstanding balances. An allowance for expected credit losses is estimated for those accounts receivable considered to be uncollectible based upon historical experience and management's evaluation of outstanding accounts receivable. We maintain an allowance for expected credit losses for accounts receivable, which is recorded as an offset to accounts receivable, and changes in such are classified as selling, general and administrative expense in the Consolidated Statements of Operations and Comprehensive Loss. We assess collectability by reviewing accounts receivable on a collective basis where similar characteristics exist and on an individual basis when we identify specific customers with known disputes or collectability issues. In determining the amount of the allowance for credit losses, we consider historical collectability based on past due status and make judgments about the creditworthiness of customers based on ongoing credit evaluations. We also consider customer-specific information, current market conditions, and reasonable and supportable forecasts of future economic conditions. Bad debts are written off against the allowance when identified. As of June 30, 2024, December 31, 2023 and January 1, 2023 there was no allowance for expected credit losses. Property and Equipment Property and equipment include costs of assets constructed, purchased or leased under a finance lease, related delivery and installation costs and interest incurred on significant capital projects during their construction periods. Expenditures for renewals and betterments also are capitalized, but expenditures for normal repairs and maintenance are expensed as incurred. Costs associated with yearly planned major maintenance are generally deferred and amortized over 12 months or until the same major maintenance activities must be repeated, whichever is shorter. The cost and accumulated depreciation applicable to assets retired or sold are removed from the respective accounts, and gains or losses thereon are included in the statement of operations and comprehensive loss. We assign the useful lives of our property and equipment based upon our internal engineering estimates, which are reviewed periodically. The estimated useful lives of our property and equipment range from 3 to 10 years, or the shorter of the useful life or remaining life of the lease for leasehold improvements. Depreciation is recorded using the straight-line method. Construction in progress (Note 4) is carried at cost and consists of specifically identifiable direct and indirect development and construction costs. While under construction, costs of the property are included in construction in progress until the property is placed in service, at which time costs are transferred to the appropriate property and equipment account, including, but not limited to, leasehold improvements or other such accounts. Property and equipment acquired from the PET Labs Pharmaceutical Acquisition was measured at fair value on October 31, 2023. The fair value forms the new basis of these assets and is depreciated over the remaining estimated useful lives of the related assets. Business Combination and Asset Acquisitions The Company evaluates acquisitions of assets and other similar transactions to assess whether or not the transaction should be accounted for as a business combination or asset acquisition by first applying a screen to determine if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. If the screen is met, the transaction is accounted for as an asset acquisition. If the screen is not met, further determination is required as to whether or not the Company has acquired inputs and processes that have the ability to create outputs, which would meet the requirements of a business. If determined to be a business combination, the Company accounts for the transaction under the acquisition method of accounting in accordance with ASC 805 Business Combinations, which requires the acquiring entity in a business combination to recognize the fair value of all assets acquired, liabilities assumed, and any non-controlling interest in the acquiree and establishes the acquisition date as the fair value measurement point. Accordingly, the Company recognizes assets acquired and liabilities assumed in business combinations, including contingent assets and liabilities, and non-controlling interest in the acquiree based on the fair value estimates as of the date of acquisition. In accordance with ASC 805, the Company recognizes and measures goodwill as of the acquisition date, as the excess of the fair value of the consideration paid over the fair value of the identified net assets acquired. The consideration for the Company’s business acquisitions may include future payments that are contingent upon the occurrence of a particular event or events. The obligations for such contingent consideration payments are recorded at fair value on the acquisition date. The contingent consideration obligations are then evaluated each reporting period. Changes in the fair value of contingent consideration, other than changes due to payments, are recognized as a gain or loss and recorded within change in the fair value of deferred and contingent consideration liabilities in the consolidated statements of comprehensive loss. If determined to be an asset acquisition, the Company accounts for the transaction under ASC 805-50, which requires the acquiring entity in an asset acquisition to recognize assets acquired and liabilities assumed based on the cost to the acquiring entity on a relative fair value basis, which includes transaction costs in addition to consideration given. No gain or loss is recognized as of the date of acquisition unless the fair value of non-cash assets given as consideration differs from the assets’ carrying amounts on the acquiring entity’s books. Consideration transferred that is non-cash will be measured based on either the cost (which shall be measured based on the fair value of the consideration given) or the fair value of the assets acquired and liabilities assumed, whichever is more reliably measurable. Goodwill is not recognized in an asset acquisition and any excess consideration transferred over the fair value of the net assets acquired is allocated to the identifiable assets based on relative fair values. Contingent consideration payments in asset acquisitions are recognized when the contingency is resolved and the consideration is paid or becomes payable (unless the contingent consideration meets the definition of a derivative, in which case the amount becomes part of the basis in the asset acquired). Upon recognition of the contingent consideration payment, the amount is included in the cost of the acquired asset or group of assets. Goodwill Goodwill represents the amount of consideration paid in excess of the fair value of net assets acquired as a result of the Company’s business acquisitions accounted for using the acquisition method of accounting. Goodwill is not amortized and is subject to impairment testing at a reporting unit level on an annual basis or when a triggering event occurs that may indicate the carrying value of the goodwill is impaired. An entity is permitted to first assess qualitative factors to determine if a quantitative impairment test is necessary. Further testing is only required if the entity determines, based on the qualitative assessment, that it is more likely than not that the fair value of the reporting unit is less than its carrying amount. The Company will perform its annual test for goodwill as of October 31. Variable Interest Entities The Company accounts for the investments it makes in certain legal entities in which equity investors do not have (1) sufficient equity at risk for the legal entity to finance its activities without additional subordinated financial support, or (2) as a group, the holders of the equity investment at risk do not have either the power, through voting or similar rights, to direct the activities of the legal entity that most significantly impact the entity’s economic performance, or (3) the obligation to absorb the expected losses of the legal entity or the right to receive expected residual returns of the legal entity. These certain legal entities are referred to as “variable interest entities” or “VIEs.” The Company would consolidate the results of any such entity in which it determined that it had a controlling financial interest. The Company would have a “controlling financial interest” in such an entity if the Company had both the power to direct the activities that most significantly affect the VIE’s economic performance and the obligation to absorb the losses of, or right to receive benefits from, the VIE that could be potentially significant to the VIE. On a quarterly basis, the Company will reassess whether it has a controlling financial interest in any investments it has in these certain legal entities. Convertible Notes Payable Convertible notes payable are accounted for in accordance with ASC 825, Financial Instruments Upon issuance the Company has elected the fair value option to account for the convertible notes payable. Changes in fair value during the reporting period are recognized in other income (expense) in the consolidated statement of operations and comprehensive loss. Leases Leases are accounted for in accordance with ASC 842, Leases At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on specific facts and circumstances, the existence of an identified asset(s), if any, and the Company’s control over the use of the identified asset(s), if applicable. Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of future lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not readily determinable. As such, the Company will utilize the incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment, and considering the region in which the ROU asset and liabilities are located. The Company has elected to combine lease and non-lease components as a single component. Operating leases are recognized on the balance sheet as ROU lease assets, lease liabilities current and lease liabilities non-current. Fixed rents are included in the calculation of the lease balances, while variable costs paid for certain operating and pass-through costs are excluded. Lease expense is recognized over the expected term on a straight-line basis. Finance leases are recognized on the balance sheet as property and equipment, finance lease liabilities current and finance lease liabilities non-current. Finance lease ROU assets and the related lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. The finance lease ROU assets are amortized on a straight-line basis over the lease term with the related interest expense of the lease liability payment recognized over the lease term using the effective interest method. Impairment of Long-lived Assets Long-lived assets consist primarily of property and equipment. The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset is not recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the asset exceeds the fair value of the assets. The Company did not recognize any impairment losses for the three and six months ended June 30, 2024 or 2023. Research and Development Costs Research and development costs consist primarily of fees paid to consultants, license fees and facilities costs. Nonrefundable advance payments for goods and services that will be used in future research and development activities are expensed when the activity has been performed or when the goods have been received rather than when the payment is made. All research and development costs are expensed as incurred. Selling, General and Administrative Costs Selling, general and administrative expenses consist primarily of salaries and related benefits, including stock-based compensation, related to our executive, finance, business development, legal, human resources and support functions. Other general and administrative expenses include professional fees for auditing, tax, consulting and patent-related services, rent and utilities and insurance. Stock-based Compensation Stock-based compensation expense represents the cost of the grant date fair value of employee stock awards recognized over the requisite service period of the awards (usually the vesting period) on a straight-line basis. The Company estimates the fair value of each stock-based award on the date of grant using the Black-Scholes option pricing model. The Black-Scholes option pricing model incorporates various assumptions, such as the value of the underlying common stock, the risk-free interest rate, expected volatility, expected dividend yield, and expected life of the options. Forfeitures are recognized as a reduction of stock-based compensation expense as they occur. The Company also awards restricted stock to employees and directors. Restricted stock is generally subject to forfeiture if employment terminates prior to the completion of the vesting restrictions. The Company expenses the cost of the restricted stock, which is determined to be the fair market value of the shares of common stock underlying the restricted stock at the date of grant, ratably over the period during which the vesting restrictions lapse. Equity-based compensation expense is classified in the statement of operations and comprehensive loss in the same manner in which the award recipients’ payroll costs are classified or in which the award recipients’ service payments are classified. Income Taxes Deferred income tax assets and liabilities arise from temporary differences associated with differences between the financial statements and tax basis of assets and liabilities, as measured by the enacted tax rates, which are expected to be in effect when these differences reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Prior to the acquisition of 51% of PET Labs Pharmaceuticals in October 2023, the Company had generated net losses since inception and accordingly had not recorded a provision for income taxes. Subsequent to the acquisition of 51% of PET Labs Pharmaceuticals, the Company records the provision for income taxes for the activity from PET Labs Pharmaceuticals operations. The Company follows the provisions of ASC 740-10, Uncertainty in Income Taxes, The Company has identified the United States, South Africa and Guernsey as its major tax jurisdictions. Refer to Note 15 for further details. Comprehensive Loss Comprehensive loss is defined as a change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company’s comprehensive loss is comprised of net loss and the effect of currency translation adjustments. Recently Issued Accounting Pronouncements The Company has reviewed recently issued accounting pronouncements and plans to adopt those that are applicable to it. The Company does not expect the adoption of any recently issued pronouncements to have a material impact on its results of operations or financial position.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2024
Revenue
Revenue	3. Revenue In connection with our acquisition of 51% ownership of PET Labs Pharmaceuticals in October 2023, we manufacture and sell nuclear medical doses for PET scanning in South Africa. For the three and six months ended June 30, 2024, the Company recognized revenue of $1,022,299 and $1,862,653, respectively. Since the acquisition did not occur until October 2023, there is no accounts receivable as of January 1, 2023 and no revenue was recognized for the three or six months ended June 30, 2023. The following table presents changes in the Company’s accounts receivable for the six months ended June 30, 2024: Balance as of December 31, 2023 Additions Deductions Balance as of June 30, 2024 Accounts receivable $ 216,504 $ 1,862,653 $ (1,563,707 ) $ 515,450

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2024
Property and Equipment
Property and Equipment	4. Property and Equipment Property and equipment as of June 30, 2024 and December 31, 2023 consisted of the following: Useful Lives (Years) June 30, 2024 December 31, 2023 Construction in progress - $ 11,081,094 $ 9,108,923 Tools, machinery and equipment 3 - 8 6,465,952 1,458,654 Computer equipment 3 - 4 105,085 60,447 Vehicles 5 191,153 39,849 Software 5 1,651 1,639 Office furniture 7 125,145 59,588 Leasehold improvements 5 80,836 21,446 Property and equipment, at cost 18,050,916 10,750,546 Less accumulated depreciation (276,128 ) (37,707 ) Property and equipment, net $ 17,774,788 $ 10,712,839 The Company is currently building three plants in Pretoria, South Africa: a Carbon-14 plant, a multi-isotope plant and a laser isotope separation plan using quantum enrichment technology. The Carbon-14 plant was completed in June 2024 and depreciation will begin in July 2024. Costs incurred for the other two plants are considered construction in progress because the work is not complete as of June 30, 2024. Costs incurred for the plants as of December 31, 2023 are considered construction in progress. There was no depreciation expense as it relates to the construction in progress for the three and six months ended June 30, 2024 and 2023. Depreciation expense for all other asset categories was $146,504 and $167 for the three months ended June 30, 2024 and 2023, respectively. Depreciation expense for all other categories was 249,714 and $167 for the six months ended June 30, 2024 and 2023, respectively.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2024
Accrued Expenses
Accrued Expenses	5. Accrued Expenses Accrued expenses as of June 30, 2024 and December 31, 2023 consisted of the following: June 30, 2024 December 31, 2023 Accrued professional $ 948,470 $ 447,295 Accrued salaries and other employee costs 1,375,950 845,344 Accrued other 131,090 18,606 Total accrued expenses $ 2,455,510 $ 1,311,245

Notes Payable

Notes Payable	6 Months Ended
	Jun. 30, 2024
Notes Payable
Notes Payable	6. Notes Payable Convertible Notes Payable In March 2024, the Company issued convertible notes payable (“March 2024 Convertible Notes”) totaling $21,063,748 and received aggregate cash of $20,550,000. One of the notes totaling $513,748 was issued to the placement agent in lieu of cash issuance costs. Issuance costs paid in cash totaling $521,423 and the value of the note issued upon issuance to the placement agent were expensed in selling, general and administrative costs in the condensed consolidated statement of operations and comprehensive loss for the six months ended June 30, 2024. In June 2024, the Company issued additional convertible notes payable (“June 2024 Convertible Notes”) totaling $5,494,395 and received aggregate cash of $5,386,228. One of the notes totaling $108,167 was issued to the placement agent in lieu of cash issuance costs and was expensed in selling, general and administrative costs in the condensed consolidated statement of operations and comprehensive loss for the three and six months ended June 30, 2024. Issuance costs paid in cash were negligible. The March 2024 Convertible Notes and the June 2024 Convertible Notes are collectively the “Convertible Notes”. The Convertible Notes are payable on demand in March 2029 and bear an annual interest rate of 6% through March 7, 2025 and 8% thereafter. Upon a qualified financing event the Convertible Notes convert into the shares issued in that qualified financing event at a price per share equal to 80% of the share price issued subject to a valuation cap. Upon a qualified transaction, the noteholders may elect to receive either 1.5x the principal and accrued interest balance in cash or convert into common shares. The Convertible Notes are recorded on the condensed consolidated balance sheet at their fair values. The fair value of the March Convertible Notes upon the date of issuance was $21,063,748. The fair value of the June Convertible Notes upon the date of issuance was $5,494,395. The fair value of the Convertible Notes as of June 30, 2024 has been determined to be $29,086,669 and the resultant change in fair value of $2,528,526 has been recorded in other income and expense in the condensed consolidated statement of operations comprehensive loss for the six months ended June 30, 2024. The resultant change in fair value for the three months ended June 30, 2024 of $1,574,816 has been recorded in other income and expense in the consolidated statement of operations and comprehensive loss. As of June 30, 2024, the total principal and accrued interest of the Convertible Notes is $26,978,913 of which $420,770 is from the interest. Promissory Note Payable During 2021, the Company executed a promissory note payable with an aggregate principal balance of $33,500 (25,000 GBP). The note was due after a period of two months, followed by mutually agreed upon monthly extensions, and does not bear interest. As of June 30, 2024 and December 31, 2023, the promissory note payable balance was $31,610 and $31,827, respectively, and continues to be automatically extended on a monthly basis. In November 2023, the Company executed a promissory note payable with a finance company to fund its D&O insurance policy for $526,282. This note bears interest at an annual rate of 8.74% and six monthly payments beginning in December 2023. For the three and six months ended June 30, 2024, the Company recorded interest expense of $4,499 and $11,247, respectively. As of June 30, 2024 there was no balance remaining to be paid on the promissory note payable. As of December 31, 2023, the promissory note payable balance was $438,569.

Deferred Revenues

Deferred Revenues	6 Months Ended
	Jun. 30, 2024
Deferred Revenues
Deferred Revenues	7. Deferred Revenues In June 2023, the Company entered into a Supply Agreement with a customer for the delivery of Molybdenum-100 and molybdenum-98 beginning in 2024. In conjunction with the Supply Agreement, the Company received $882,000 in September 2023, as an advance towards future revenue. The Company has recorded $882,000 as deferred revenue on the balance sheet as of June 30, 2024 and December 31, 2023. There was no deferred revenue recorded as of January 1, 2023 and June 30, 2023.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies
Commitments and Contingencies	8. Commitments and Contingencies Purchase of Cyclotron In November 2023, the cyclotron that the Company ordered was shipped. As of December 31, 2023, the equipment had not been delivered. As of December 31, 2023 the Company was obligated to purchase this equipment and recorded the other asset and other liability for the full cost of $1,653,000 on the consolidated balance sheet as of December 31, 2023. In March 2024, the cyclotron was received by the Company and is recorded as property and equipment. The financing company has paid the vendor, however, it is still working on finalizing the note payable with the Company as of June 30, 2024 and therefore the liability of $1,653,000 continues to be recorded as an other liability as of June 30, 2024. Klydon Proprietary Limited In November 2021, the Company entered into an agreement with Klydon Proprietary Limited (“Klydon”) to design and build a plant to enrich Molybdenum in South Africa. The initial phase of the project included the building of a plant that can support the production of at least 5kgs of Mo-100. The contracted cost for this phase was $6,800,000. The second phase of the project included the production to be increased to 20kgs of Mo-100 with an additional cost of $6,000,000. Klydon performed a portion of the services required under the Turnkey Contract; however, services were incomplete and many of the services were not completed within the time frame required. As a result, Klydon and ASP South Africa entered into an Acknowledgement of Debt Agreement dated November 30, 2022, whereby Klydon (i) agreed to pledge its assets (the “Pledged Assets”) to ASP South Africa to secure its performance of the Turnkey Contract by December 31, 2022, and (ii) acknowledged that ASP South Africa would suffer damages in the amount of $6,050,000 (“Damage Amount”) should it fail to perform. Under the Acknowledgement of Debt Agreement, the Pledged Assets would serve as collateral for Klydon’s obligation to pay the Damage Amount should Klydon fail to perform. In connection therewith, also on November 30, 2022, ASP South Africa and Klydon entered into a Deed of Security Agreement whereby, if Klydon failed to complete its obligations under the Turnkey Contract by December 31, 2022, all of Klydon’s rights of any nature to and interests of any nature in the Pledged Assets would be transferred to ASP South Africa. Klydon failed to complete its obligations under the Turnkey Contract by December 31, 2022, however, the Company did not perfect its interests in the assets until April 4, 2023. The Company did not believe that the amounts owed by Klydon were realizable, nor did the Company know the timing of any recovery payments. Therefore, a loss recovery receivable was not recorded at any time prior to April 4, 2023. On April 4, 2023, the Company perfected its interest under the Acknowledgement of Debt Agreement, pursuant to which the Company acquired certain intellectual property from Klydon (“Klydon Settlement”). In addition, the Company acquired Klydon's interest in four entities which are inactive and in the process of being dissolved. The Company has concluded that the Klydon Settlement is accounted for under ASC 805, Business Combinations as an asset acquisition since the assets acquired were concentrated in a single identifiable asset from a related party. In conjunction with the Klydon Settlement, the Company recorded an increase to additional paid-in capital for the settlement of all liabilities owed to Klydon at the time of settlement totaling $626,223. Two individuals who are officers and board members of Klydon, one who is now an officer of ASP Isotopes Inc. and the other who is now a scientific advisor of ASP Isotopes Inc., received warrants to purchase common stock of the Company and therefore are considered related parties. See Notes 10 and 12. Share Purchase Agreement relating to PET Labs On October 31, 2023, the Company entered into a Share Purchase Agreement with Nucleonics Imaging Proprietary Limited, a company incorporated in the Republic of South Africa (the “Seller”), relating to the purchase and sale of ordinary shares in the issued share capital of Pet Labs Pharmaceuticals Proprietary Limited, a company incorporated in the Republic of South Africa (“PET Labs”). PET Labs is a South African radiopharmaceutical operations company, dedicated to nuclear medicine and the science of radiopharmaceutical production. Under the Purchase Agreement, the Company has agreed to purchase from the Seller 51 ordinary shares in the issued share capital of PET Labs (the “Initial Sale Shares”) (representing 51% of the issued share capital of PET Labs) and has an option to purchase from the Seller the remaining 49 ordinary shares in the issued share capital of PET Labs (the “Option Shares”) (representing the remaining 49% of the issued share capital of PET Labs). The Company agreed to pay to the Seller an aggregate of $2,000,000 for the Initial Sale Shares, of which aggregate amount of $500,000 was payable on the completion of the sale of the Initial Sale Shares and $1,500,000 is payable on demand after one calendar year from the agreement date. In January 2024, the Company agreed to pay $264,750 to the Seller. The balance due for the Initial Sale Shares as of June 30, 2024 is $1,235,250 and is recorded in other current liabilities on the condensed consolidated balance sheet. If the Company exercises its option to purchase the Option Shares (which option is exercisable from the agreement date until January 31, 2027, provided that the Initial Sale Shares have been paid for in full), the Company has agreed to pay $2,200,000 for the Option Shares. Contingencies From time to time, the Company may have certain contingent liabilities that arise in the ordinary course of its business activities. The Company accrues liabilities for such matters when future expenditures are probable and such expenditures can be reasonably estimated. On October 25, 2022, the Company received a letter from a law firm acting on behalf of Norsk medisinsk syklotronsenter AS (“NMS”), asserting, among other things, that the grant of a license to the ASP technology to the Company by Klydon violates a pre-existing exclusive sub-license to the ASP technology granted to Radfarma. The asserted claims, arbitration and/or litigation could include claims against the Company, the Company’s licensor (Klydon), or Klydon’s present or former sub-licensors alleging infringement of intellectual property rights with respect to the ASP technology on which our company relies. The Company recorded legal costs totaling $78,304 which was paid to Klydon’s attorneys to settle this claim. As of December 31, 2023, Radfarma has relinquished all claims and ASP Isotopes owns the rights to the licenses originally held by Klydon and acquired by ASP Isotopes.

Lease

Lease	6 Months Ended
	Jun. 30, 2024
Lease
Lease	9. Leases The Company accounts for facility leases in accordance with ASC 842 (Note 2). The Company is party to five facility leases in South Africa for office, manufacturing and laboratory space. A lease for office and laboratory space in Pretoria, South Africa commenced in October 2021 with the initial term set to expire in December 2030. The Company has applied the guidance in ASC 842 and has determined that it should be classified as an operating lease. The Company’s incremental borrowing rate for this lease is 7.5% based on the remaining lease term of the applicable lease. Consequently, a ROU lease asset of $952,521 with a corresponding lease liability of $952,521 based on the present value of the minimum rental payments of such lease was recorded at the inception of the lease. A lease for additional production space in Pretoria, South Africa commenced in April 2023 with the initial term set to expire in March 2024. Effective February 1, 2024, this lease was amended such that the new term begins on February 1, 2024 and expires in February 2026. Prior to the amendment, the Company had applied the guidance in ASC 842 and determined that this lease was a short term lease and expensed the monthly payments as incurred. The Company has applied the guidance in ASC 842 to the amended lease and has determined that it should be classified as an operating lease. The Company’s incremental borrowing rate for this lease is 10.6% based on the lease term of the applicable lease. Consequently, a ROU lease asset of $364,458 with a corresponding lease liability of $364,458 based on the present value of the minimum rental payments of such lease was recorded at the inception of the lease. A lease for laboratory space in Pretoria, South Africa commenced in November 2023 with the initial term set to expire in October 2026. The Company has applied the guidance in ASC 842 and has determined that it should be classified as an operating lease. The Company’s incremental borrowing rate for this lease is 13.16% based on the remaining lease term of the applicable lease. Consequently, a ROU lease asset of $70,607 with a corresponding lease liability of $70,607 based on the present value of the minimum rental payments of such lease was recorded at the inception of the lease. A lease for office and production space in Pretoria, South Africa commenced prior to October 31, 2023 with the initial term set to expire in March 2026. The Company has applied the guidance in ASC 842 and has determined that it should be classified as an operating lease effective on the date of ASP Isotopes acquisition of 51% of PET Labs Pharmaceuticals. The Company’s incremental borrowing rate is approximately 12.875% based on the expected remaining lease term of the applicable lease. Consequently, a ROU lease asset of $592,304 which reflects an $84,858 unfavorable adjustment based on the fair value of the lease terms and a corresponding lease liability of $677,163 based on the present value of the minimum rental payments of such lease was recorded at the date of ASP Isotopes acquisition of 51% of PET Labs Pharmaceuticals. Dr. Gerdus Kemp, an officer of PET Labs Pharmaceuticals and an employee of ASP Isotopes UK Ltd, is the sole owner of the facility under this lease agreement. A summary of long leases in the condensed consolidated balance sheet as of June 30, 2024 is as follows: ROU Asset Operating Lease Liability - Current Operating Lease Liability – Non-Current Total Operating Lease Liability Lease: Office and laboratory, Pretoria, South Africa $ 595,655 $ 59,746 $ 611,220 $ 670,966 Additional production, Pretoria, South Africa 306,197 177,221 128,976 306,197 Laboratory, Pretoria, South Africa 58,177 22,059 37,424 59,483 Office and production, Pretoria, South Africa 457,373 282,770 237,154 519,924 Total $ 1,417,402 $ 541,796 $ 1,014,774 $ 1,556,570 A summary of long-term leases in the condensed consolidated balance sheet as of December 31, 2023 is as follows: ROU Asset Operating Lease Liability - Current Operating Lease Liability – Non-Current Total Operating Lease Liability Lease: Office and laboratory, Pretoria, South Africa $ 626,548 $ 53,504 $ 637,348 $ 690,852 Laboratory, Pretoria, South Africa 68,089 19,608 48,805 68,413 Office and production, Pretoria, South Africa 564,064 263,452 380,494 643,946 Total $ 1,258,701 $ 336,564 $ 1,066,647 $ 1,403,211 A lease for additional production space in Pretoria, South Africa commenced prior to October 31, 2023 with the initial term expiring in March 2024 and the Company is maintaining the lease under the agreed upon monthly extensions. The Company has applied the guidance in ASC 842 and has determined that this lease is a short term lease effective on the date of ASP Isotopes acquisition of 51% of PET Labs Pharmaceuticals and expensed the monthly payments for the three and six months ended June 30, 2024 and the two months ended December 31, 2023. Quantitative information regarding the Company’s operating lease liabilities is as follows: Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Operating Lease Cost Operating lease cost $ 167,692 $ 28,069 $ 316,592 $ 59,229 Other Information Operating cash flows paid for amounts included in the measurement of lease liabilities $ 162,037 $ 21,572 $ 305,375 $ 45,520 Operating lease liabilities arising from obtaining right-of-use assets $ - $ - $ 364,458 $ - Weighted average remaining lease term (years) 3.80 7.50 3.80 7.50 Weighted average discount rate 10.12 % 7.50 % 10.12 % 7.50 % Future lease payments under noncancelable operating lease liabilities as of June 30, 2024 are as follows: Operating Leases Future Lease Payments 2024 (remaining six months) $ 335,331 2025 676,330 2026 263,476 2027 129,538 2028 139,254 Thereafter 310,624 Total lease payments $ 1,854,553 Less: imputed interest (297,983 ) Total lease liabilities $ 1,556,570 Less current portion (541,796 ) Lease liability – noncurrent $ 1,014,774 The Company records the expense from short term leases as incurred. For the three and six months ended June 30, 2024, the Company recorded $43,205 and $15,762 in rent expense from its short term leases in Pretoria, South Africa. As of June 30, 2024, there are no short term leases in effect. Lease expense from short term leases for the three and six months ended June 30, 2023 was $36,530. The Company accounts for finance leases in accordance with ASC 842 (Note 2). Subsequent to the acquisition of 51% of PET Labs Pharmaceuticals on October 31, 2023, the Company is party to nine ongoing finance leases in South Africa for certain fixed assets. In addition, In June 2024, the Company entered into a new finance lease for additional equipment. Quantitative information regarding the Company’s finance lease liabilities is as follows: Three Months Ended June 30, 2024 Three Months ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Finance Lease Cost Interest on lease liabilities $ 16,893 $ — $ 23,933 $ — Other Information Operating cash flows paid for amounts included in the measurement of finance lease liabilities $ 24,468 $ — $ 38,846 $ — Amortization of right-of-use assets $ 9,871 $ — $ 19,312 $ — Weighted average remaining lease term (years) 4.4 — 4.4 — Weighted average discount rate 12.9 % — % 12.9 % — % Future lease payments under noncancelable finance lease liabilities are as follows as of June 30, 2024: Finance Leases Future Lease Payments 2024 (remaining six months) $ 101,183 2025 203,143 2026 202,645 2027 195,913 2028 157,005 Thereafter 47,463 Total lease payments $ 907,352 Less: imputed interest (224,191 ) Total lease liabilities $ 683,161 Less current portion (120,595 ) Lease liability – noncurrent $ 562,566

License Agreements

License Agreements	6 Months Ended
	Jun. 30, 2024
License Agreements
License Agreements	10. License Agreements In September 2021, the Company licensed certain intellectual property from Klydon for the development, production distribution, marketing and sale of Mo-100. The license term is 999 years, unless terminated earlier by either party under certain provisions. Any development efforts improving the intellectual property performed by either Klydon or the Company will be the property of Klydon. There are no upfront, milestone payments, nor royalties on product sales over the term of the license. Two individuals who are officers and board members of Klydon received warrants to purchase common stock of the Company. (See Note 12.) In January 2022, the Company licensed certain intellectual property from Klydon for the development, production distribution, marketing and sale of uranium isotope U-235 (“U-235”). The license term is 999 years, unless terminated earlier by either party under certain provisions. Any development efforts improving the intellectual property performed by either Klydon or the Company will be the property of Klydon. The Company paid an upfront fee of $100,000, which was expensed to research and development expense. The Company is required to pay a nominal royalty per Kg of product sold plus 10% royalties on product net profits over the term of the contract. One of the officers, who is also a board member of Klydon, became a board member and consultant of ASP Isotopes Inc. and an employee of ASP Guernsey in January 2022. In July 2022, ASP Isotopes UK Ltd (a subsidiary of the Company) entered into a license agreement with Klydon, as licensor, pursuant to which ASP Isotopes UK Ltd acquired from Klydon an exclusive license to use, develop, modify, improve, subcontract and sublicense certain intellectual property rights relating to the ASP technology for the production, distribution, marketing and sale of all isotopes produced using the ASP technology (the “Klydon license agreement”). The Klydon license agreement superseded and replaced the Mo-100 license and U-235 license described in Note 8 above. The Klydon license agreement is royalty-free, has a term of 999 years and is worldwide for the development of the ASP technology and the distribution, marketing and sale of isotopes. Future production of isotopes is limited to member countries of the Nuclear Suppliers Group. In connection with the Klydon license agreement the Company agreed to make an upfront payment of $100,000 (to be included within the payments we make under the Turnkey Contract) and deferred payments of $300,000 over 24 months, which was expensed to research and development expense. In July 2022, ASP South Africa acquired assets comprising a dormant Silicon-28 aerodynamic separation processing plant from Klydon for ZAR 6,000,000 (which at the then current exchange rate was approximately $354,000), which was recorded to property and equipment, would have been payable to Klydon on the later of 180 days of the acquisition and the date on which the assets generate any revenues of any nature. On April 4, 2023, the Company perfected its interest under the Acknowledgement of Debt Agreement (see Note 8), pursuant to which the Company acquired certain intellectual property from Klydon (“Klydon Settlement”). The Company concluded that the Klydon Acquisition is accounted for under ASC 805, Business Combinations as an asset acquisition since the assets acquired were concentrated in a single identifiable asset from a related party. In conjunction with the Klydon Settlement, the Company recorded an increase to additional paid-in capital for the settlement of all liabilities owed to Klydon at the time of settlement totaling $626,223.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2024
Acquisitions
Acquisitions	11. Acquisitions PET Labs Pharmaceuticals In October 2023, the Company completed the PET Labs Pharmaceuticals Acquisition, a provider of nuclear medical doses for use in PET scans in South Africa. The acquisition of PET Labs Pharmaceuticals was intended to accelerate the distribution of the Company’s pipeline. The acquisition of PET Labs Pharmaceuticals has been accounted for as a business combination in accordance with ASC 805. Pursuant to the terms of the agreement, the Company acquired 51% of the common shares issued and outstanding for total purchase consideration of $2,000,000 in cash of which $500,000 was paid up front. In January 2024, the Company made a partial payment of $264,750 and the balance of $1,235,250 is expected to be paid in the second half of 2024 and is recorded in other current liabilities on the condensed consolidated balance sheet. In addition to the purchase consideration, the Company has an option to purchase the remaining 49% of the issued and outstanding shares for an agreed consideration totaling $2,200,000. No consideration or value relating to this option was recognized as it was not considered probable at the time of acquisition and as of March 31, 2024. Dr. Gerdus Kemp is an officer of PET Labs Pharmaceuticals and, effective November 1, 2023, an employee of ASP Isotopes UK Ltd. In addition, Dr. Kemp controls the remaining 49% ownership of PET Labs Pharmaceuticals. The following table summarizes the preliminary allocation of the purchase consideration to the fair value of the assets acquired and liabilities assumed: Consideration Cash $ 500,000 Present value of balance due 1,395,348 $ 1,895,348 Recognized amounts of identifiable assets acquired and liabilities assumed Cash and cash equivalents $ 378,152 Accounts receivable 460,165 Other current assets 184,457 Property and equipment 821,926 Right of use assets 592,304 Financial liabilities (1,248,699 ) Right of use liabilities (677,163 ) Total identifiable net assets 511,142 Noncontrolling interest (1,821,021 ) Goodwill 3,205,227 $ 1,895,348 Goodwill arising from the acquisition as of October 31, 2023 of $3,205,227 was attributable mainly to buyer specific synergies expected to arise from the acquisition. The Company expects that no goodwill from this acquisition will be deductible for income tax purposes. The Company considered the contractual value of accounts receivable to be the same as the fair value and expects the full amount to be collected. The results of PET Labs Pharmaceuticals have been included in the consolidated financial statements from the date of the acquisition. The Company accounts for business combinations in accordance with Accounting Standards Update ("ASU") No. 2015-16, Business Combinations (Topic 805), which requires an acquirer to retrospectively adjust provisional amounts recognized in a business combination during the measurement period (which represents a period not to exceed one year from the date of the acquisition), in the reporting period in which the adjustment is determined, as well as present separately on the face of the income statement or as a disclosure in the notes to the consolidated financial statements, the portion of the amount recorded in current period earnings that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The changes to the carrying value of goodwill is as follows: Balance as of October 31, 2023 (acquisition date) $ 3,205,227 Translation adjustment 61,876 Balance as of December 31, 2023 3,267,103 Translation adjustment 22,060 Balance as of June 30, 2024 $ 3,289,163 ASP Rentals In December 2023, ASP South Africa entered into a Shareholders Agreement (“ASP Rentals Shareholders Agreement”) with ASP Rentals, a newly formed equipment financing service provider formed for the sole purpose of providing financing to ASP South Africa for its significant asset purchases in South Africa. In accordance with the terms of the ASP Rentals Shareholders Agreement, ASP Rentals issued 24% of its capital stock to ASP South Africa for total consideration of ZAR 3,300,829 (which at the exchange rate as of December 31, 2023 was $180,387) and the remaining 76% of its capital stock was issued to two third party entities for combined consideration of ZAR 13,203,317 (which at the exchange rate as of December 31, 2023 was $721,548). In June 2024, ASP Rentals issued additional capital stock to support additional financing to ASP South Africa and PET Labs Pharmaceuticals. Per the terms of the ASP Rentals Shareholder Agreement, ASP Rentals issued 20% of the new capital to ASP South Africa for total consideration of ZAR 3,671,412 (which at the exchange rate as of June 30, 2024 was $201,994) and the remaining 80% of the new capital to one of the two original third party entities for a combined consideration of ZAR 18,357,063 (which at the exchange rate as of June 30, 2024 was $1,009,969). In addition to issuance of these shares, future ASP South Africa and PET Labs Pharmaceutical equipment purchases may also be financed by ASP Rentals through the issuance of additional shares. ASP South Africa will only be entitled to dividend distributions upon the two third party entities receiving a designated return on their investment. In conjunction with the ASP Rental Shareholders Agreement, ASP South Africa and PET Labs Pharmaceuticals have both entered into an Asset Sale Agreement and an Asset Rental Agreement with ASP Rentals in order to facilitate the financing of equipment recently purchased by ASP South Africa and PET Labs Pharmaceuticals. As a result of the transactions contemplated by these agreements, collectively, ASP Rentals is considered a variable interest entity. In addition, since the only function of ASP Rentals is to provide financing to ASP South Africa and PET Labs Pharmaceuticals, ASP Isotopes is considered to be the primary beneficiary of ASP Rentals. Therefore, ASP Rentals has been consolidated in accordance with ASC 810. Pursuant to the terms of the ASP Rentals Shareholders Agreement, as of December 31, 2023 ASP South Africa was obligated to acquire and ASP Rentals was obligated to issue 24% of the common shares of ASP Rentals to be issued and outstanding for total purchase consideration of ZAR 3,300,829 (which at the exchange rate as of December 31, 2023 was $180,387). As of December 31, 2023 these amounts are eliminated in consolidation. As of December 31, 2023, ASP Rentals had a receivable and an obligation to issue 76% of the common shares of ASP Rentals with non-affiliates for an aggregate of ZAR 13,203,317 (which at the exchange rate as of December 31, 2023 was $721,548). As of December 31, 2023, the Company had recorded $721,548 as a receivable from noncontrolling interest in current assets and a non-controlling interest in equity. All consideration for these common shares of ASP Rentals was received in January 2024. In January 2024, a total of ZAR 14,351,431 (which at the exchange rate as of December 31, 2023 was $784,291) was transferred between ASP Rentals and ASP South Africa per the terms of the ASP Sale Agreement and Asset Rental Agreement, excluding VAT. In June 2024, a total of ZAR 13,217,472 (which at the exchange rate as of June 30, 2024 was $727,199) was transferred between ASP Rentals and ASP South Africa and PET Labs Pharmaceuticals per the terms of the ASP Sale Agreement and Asset Rental Agreement, excluding VAT.

Stockholders Equity

Stockholders Equity	6 Months Ended
	Jun. 30, 2024
Stockholders Equity
Stockholders' Equity	12. Stockholders’ Equity Preferred stock ASP Isotopes Inc. has 10,000,000 shares of preferred stock authorized, of which no shares were issued and outstanding as of June 30, 2024 and December 31, 2023. Common stock The Company has 500,000,000 shares of common stock authorized, of which 52,132,833 and 48,923,276 shares were issued and outstanding as of June 30, 2024 and December 31, 2023, respectively. Common stockholders are entitled to one vote for each share of outstanding common stock held at all meetings of stockholders and written actions in lieu of meetings. Common stockholders are entitled to receive dividends for each share of outstanding common stock, if and when declared by the Board. No dividends have been declared or paid by the Company through June 30, 2024. As of December 31, 2022, the Company owed a placement agent, as amended, 57,250 shares and the fair value was $90,455. The fair value of the 57,250 shares issuable to the placement agent just prior to settlement in March 2023 was $75,570, resulting in a change in fair value of share liability of $14,885 for the three months ended March 31, 2023. In March 2023, the Company settled this share liability by issuing the 57,250 shares of common stock. In November 2022, the Company was required to issue shares of common stock with a then fair value totaling $50,000 to a consultant. The fair value of the 12,500 shares as of March 31, 2023 was $50,000. There was no change in fair value for this award for the three and six months ended June 30, 2023. The fair value of the 12,500 shares issued in August 2023 was $18,125. In February 2023, the Company was required to issue an aggregate of 100,000 shares of common stock to two consultants. The Company determined that the fair value of these two awards was $1.55 and $1.90 per share, respectively, for a total value of $172,500. The fair value of these shares as of June 30, 2023 to the two consultants was $56,800. The resulting change in fair value loss of the share liability was $28,600 and $115,700 for the three and six months ended June 30, 2023, respectively. The fair value of these shares issued in August 2023 to the two consultants was $145,000. In March 2023, the Company was required to issue an aggregate of 100,000 shares of restricted common stock pursuant to a settlement agreement that vests immediately. The Company determined that the fair value of this award was $0.94 per share for a total value of $93,700. The fair value of these shares as of June 30, 2023 was $56,800. The resulting change in fair value loss of the share liability was $28,600 and $36,900 for the three and six months ended June 30, 2023. The fair value of these shares issued in August 2023 was $145,000. In March 2023, an officer and scientific advisor of the Company exchanged an aggregate of 3,000,000 shares of ASP Isotopes Inc. common stock for 2,500 shares of Enlighted Isotopes convertible preferred stock. In conjunction with the exchange, Enlightened Isotopes transferred the common shares of ASP Isotopes Inc. to ASP Isotopes and then ASP Isotopes immediately cancelled all 3,000,000 shares. The Company will report the non-controlling interest of future net income or loss on the consolidated balance sheet and statement of operations and comprehensive loss. As of December 31, 2023, negligible activity has been recorded for Enlightened Isotopes. Activities for Enlightened Isotopes began in 2024. In May 2023, the Company was required to issue an aggregate of 100,000 shares of restricted common stock pursuant to a consulting agreement. The Company determined that the fair value of this award was $0.65 per share for a total value of $65,100. The fair value of these shares issuable to the consultant was $56,800 as of June 30, 2023 resulting in a change in fair value loss of share liability of $8,300 for the three and six months ended June 30, 2023. As of June 30, 2023, these shares had yet to be issued, however, they were settled prior to December 31, 2023. In May 2023, the Company was required to issue an aggregate of 300,000 shares of restricted common stock to an employee. The Company determined that the fair value of this award was $0.55 per share for a total value of $165,000. The fair value of these shares issuable to the employee was $170,400 as of June 30, 2023 resulting in a change in fair value gain of share liability of $5,400 for the three and six months ended June 30, 2023. As of June 30, 2023, these shares had yet to be issued, however, they were settled prior to December 31, 2023. The Company’s non-employee board members agreed to receive the 2022 and 2023 cash director fees totaling $240,000 in shares of common stock. As of June 30, 2024, these shares had yet to be issued, however, the value of the fees is now recorded as additional paid-in capital on the condensed consolidated balance sheet. In March 2023, the Company issued 3,164,557 shares of the Company’s common stock at a purchase price of $1.58 per share and warrants to purchase up to an aggregate of 3,164,557 shares of its common stock with an exercise price of $1.75 per share for gross proceeds of $5,000,000. The Company incurred $506,390 in cash issuance costs and issued warrants to purchase up to an aggregate of 221,519 shares of common stock with an exercise price of $1.975 per share to the placement agent with an initial fair value of $179,116. In October 2023, the Company entered into Securities Purchase Agreements with certain institutional and other accredited investors and certain directors of the Company to issue and sell an aggregate of 9,952,510 shares of the Company’s common stock, for aggregate cash consideration of $9,129,495, as follows: (i) 8,459,093 shares to investors at a purchase price per share of $0.9105, (ii) 1,190,239 shares to investors at a purchase price per share of $0.9548, and (iii) 303,178 shares to directors at a purchase price per share of $0.96. The Company incurred issuance costs equivalent to 5% of the gross proceeds from new investors which was settled in stock through the issuance of 472,582 shares to the placement agent and additional cash issuance costs totaling $57,083. In January 2024, the Company was required to issue an aggregate of 100,000 shares of restricted common stock to a consultant that vests immediately. The Company determined that the fair value of this award was $1.95 per share for a total value of $195,000. The fair value of these shares as of June 30, 2024 was $306,000. The resulting change in fair value (loss) gain of the share liability was ($107,000) and $111,000 for the three and six months ended June 30, 2024. These shares have not yet been issued as of June 30, 2024. In April 2024, the Company was required to issue an aggregate of 60,000 shares of common stock pursuant to a consulting agreement. The Company determined that the fair value of this award was $4.01 per share for a total value of $240,600 and recorded this as professional expense. The fair value of these shares issued upon settlement in June 2024 was $183,600. The resulting change in fair value loss of the share liability was $57,000 for the six months ended June 30, 2024. In June 2024, the Company issued an aggregate of 60,000 shares of common stock pursuant to a consulting agreement. The Company determined that the fair value of this award was $3.06 per share for a total value of $183,600 and recorded this amount as professional expense for the six months ended June 30, 2024. Activity of the share liabilities for the six months ended June 30, 2024 is as follows: Share Liability as of December 31, 2023 New Share Liabilities in 2024 Mark to Market Adjustments in 2024 Liabilities Settled in 2024 Share Liabilities as of June 30, 2024 Share liabilities originated in 2024 $ - $ 435,600 $ 54,000 $ (183,600 ) $ 306,000 Activity of the share liabilities for the six months ended June 30, 2023 is as follows: Share Liability as of December 31, 2022 New Share Liabilities in 2023 Mark to Market Adjustments in 2023 Liabilities Settled in 2023 Share Liabilities as of June 30, 2023 Share liabilities originated in 2022 $ 140,455 $ - $ (14,885 ) $ (75,570 ) $ 50,000 Share liabilities originated in 2023 - 496,300 (155,500 ) - 340,800 $ 140,455 $ 496,300 $ (170,385 ) $ (75,570 ) $ 390,800 In July 2024, the Company issued 13,800,000 shares of common stock in a public offering at a public offering price of $2.50 per share for aggregate gross proceeds totaling $34,500,000. Issuance costs, including commissions and expenses totaled $2,247,500. Prior to June 30, 2024, the Company recorded deferred issuance costs related to this offering on the condensed consolidated balance sheet totaling $45,000. Common Stock Warrants The fair value of the warrants to purchase 3,386,076 shares of common stock issued in the three months ended March 31, 2023 was determined to be $2,882,621 and estimated based on the Black-Scholes model, using the following assumptions: Expected volatility 60.3 % Weighted-average risk-free rate 3.44 % Expected term in years 5.5 Expected dividend yield 0 % In April 2024, a warrant to purchase 3,164,557 shares of common stock was exercised and the Company received gross proceeds of $5,537,975. As an inducement for the warrant holder to exercise in cash, a warrant to purchase 1,225,000 shares of common stock at an exercise price of $3.90 per share was issued to that same warrant holder for no consideration (“Inducement Warrant”). The Inducement Warrant vests in October 2024 and expires in October 2029. The Company evaluated the terms of the Inducement Warrant and determined that it should be accounted for as an equity based warrant. The Company also evaluated the circumstances of the award and determined that the inducement should be treated as a deemed dividend. The fair value of the Inducement Warrant was determined to be $2,779,659 and estimated based on the Black-Scholes model, using the following assumptions: Expected volatility 73.5 % Weighted-average risk-free rate 4.37 % Expected term in years 5.5 Expected dividend yield 0 % The fair value of the Inducement Warrant is considered the deemed dividend and is removed from net loss for the purpose of determining the earnings per share on a basic and fully diluted basis.

Stock Compensation Plan

Stock Compensation Plan	6 Months Ended
	Jun. 30, 2024
Stock Compensation Plan
Stock Compensation Plan	13. Stock Compensation Plan Equity Incentive Plan In October 2021, the Company adopted the 2021 Stock Incentive Plan (“2021 Plan”) that provided for the issuance of common stock to employees, nonemployee directors, and consultants. Recipients of incentive stock options are eligible to purchase shares of common stock at an exercise price equal to no less than the estimated fair market value of such stock on the date of grant. The 2021 Plan provided for the grant of incentive stock options, non-statutory stock options, restricted stock, restricted stock units, stock awards and stock appreciation rights. The maximum contractual term of options granted under the 2021 Plan is ten years. The maximum number of shares initially available for issuance under the 2021 Plan was 6,000,000. No further options are available to be issued under the 2021 Plan. In November 2022, the Company adopted the 2022 Equity Incentive Plan (“2022 Plan”) that provides for the issuance of common stock to employees, nonemployee directors, and consultants. Recipients of incentive stock options are eligible to purchase shares of common stock at an exercise price equal to no less than the estimated fair market value of such stock on the date of grant. The 2022 Plan provides for the grant of incentive stock options, non-statutory stock options, restricted stock, restricted stock units, stock awards and stock appreciation rights. The maximum contractual term of options granted under the 2022 Plan is ten years. The number of shares of the Company’s common stock initially reserved for issuance under the 2022 Plan is equal to 5,000,000, subject to an annual increase, to be added on the first day of each fiscal year, beginning with the fiscal year ending December 31, 2023 and continuing until, and including, the fiscal year ending December 31, 2033, equal to the lesser of 5% of the number of shares of the Company’s common stock outstanding on such date or an amount determined by the Company’s board of directors. On January 1, 2024, the Company added 2,446,164 shares to the 2022 Plan. As of June 30, 2024, 2,309,770 shares remain available for future grant under the 2022 Plan. In June 2024, the Company adopted the 2024 Inducement Equity Incentive Plan (“2024 Plan”). The 2024 Plan will be used exclusively for the grant of equity awards to individuals who were not previously employees or directors of the Company, or following a bona fide period of non-employment, as an inducement material to such individuals entering into employment with the Company, pursuant to Nasdaq Listing Rule 5635(c)(4). Recipients of stock options are eligible to purchase shares of common stock at an exercise price equal to no less than the estimated fair market value of such stock on the date of grant. The 2024 Plan provides for the grant of non-statutory stock options, restricted stock, restricted stock units, stock awards and stock appreciation rights. The maximum contractual term of options granted under the 2024 Plan is ten years. The number of shares of the Company’s common stock initially reserved for issuance under the 2024 plan is equal to 2,500,000. As of June 30, 2024, 2,500,000 shares remain available for future grant under the 2024 Plan. Stock Options The following table sets forth the activity for the Company’s stock options during the periods presented: Number of Options Weighted- Average Exercise Price per Share Weighted Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value Outstanding as of December 31, 2023 2,766,000 $ 1.91 8.4 $ 231,000 Granted - $ - Forfeited (35,000 ) $ 2.00 Outstanding as of June 30, 2024 2,731,000 $ 1.90 7.9 $ 3,157,360 Exercisable as of June 30, 2024 1,996,623 $ 1.88 7.9 $ 2,356,120 Vested or expected to vest as of June 30, 2024 2,731,000 $ 1.90 7.9 $ 3,157,360 For the six months ended June 30, 2024, no options were granted. The Company recorded stock compensation from options of $194,845 and $209,774 for the three months ended June 30, 2024 and 2023, respectively. The Company recorded stock compensation from options of $391,032 and $565,985 for the six months ended June 30, 2024 and 2023, respectively. As of June 30, 2024, there was $858,347 of unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Plan, which is expected to be recognized over a weighted average period of approximately 0.9 years. Stock Awards In October 2021, the Company issued 1,500,000 shares of restricted common stock to its Chief Executive Officer. The number of shares that vest is dependent on achieving certain performance conditions and dependent market conditions upon the third anniversary from the date of grant. The Company determined that the fair value of this award was $0.25 per share for a total value of $375,000. The Company determined the performance condition probable during the three months ended June 30, 2024 and recognized stock compensation expense of $375,000. In October 2021, the Company issued 600,000 shares of restricted common stock to a consultant who is also a member the board of directors, that vest annually over three years. The Company determined that the fair value of this award was $0.25 per share for a total value of $150,000. In July 2022, the Company issued 600,000 shares of restricted common stock to a consultant who is also a member the board of directors, that vest quarterly over one year. The Company determined that the fair value of this award was $2.00 per share for a total value of $1,200,000. In July 2022, the Company issued 100,000 shares of restricted common stock to a consultant, that vests on the one-year anniversary of the grant. The Company determined that the fair value of this award was $2.00 per share for a total value of $200,000. In November 2022, the Company issued 3,000,000 shares of restricted common stock to certain employees and directors, that vest two to four years from the date of the grant. The Company determined that the fair value of these awards was $2.63 per share for a total value of $7,890,000. In January 2024, one director that had received shares in November 2022 resigned and 100,000 unvested shares were forfeited and cancelled. In December 2022, the Company issued an aggregate of 1,550,000 shares of restricted common stock to its Chief Executive Officer and Chairman, then Interim Chief Financial Officer and a director that vest quarterly over one year from the date of the grant. The Company determined that the fair value of these awards was $1.58 per share for a total value of $2,449,000. In March 2023, the Company issued an aggregate of 1,256,750 shares of restricted common stock to its Chief Executive Officer and Chairman and a director that vests quarterly over one year from the date of the grant. The Company determined that the fair value of these awards was $1.80 per share for a total value of $2,262,150. In August 2023, the Company issued 300,000 and 200,000 shares of restricted common stock pursuant to one employee and one director for employment services, respectively. The Company determined that the fair value of these awards was $0.55 per share and $1.22 per share, respectively for a total combined value of $409,000. In January 2024, the employee that had received shares in August 2023 resigned and 225,000 unvested shares were forfeited and cancelled. In October 2023, the Company was obligated to issue $100,000 of common stock to a board member for his services. These shares were not awarded as of June 30, 2024, however, all related stock based compensation was recorded totaling $100,000 in October 2023. In March 2024, the Company was obligated to issue 978,466 shares of restricted stock that vest over the period ending February 2025 to its Chief Executive Officer for his services during 2023. These shares were not issued as of June 30, 2024, however, stock based compensation was recorded beginning in March 2024. In March 2024, the Company was obligated to issue 100,000 shares of restricted stock that vest over the period ending October 2024 to an executive of PET Labs Pharmaceuticals for his services. These shares were issued in June 2024, however, stock based compensation was recorded beginning in March 2024. In January 2024, the Company was obligated to issue $100,000 of common stock to a board member for his services. These shares were not awarded as of June 30, 2024, however, all related stock based compensation was recorded totaling $100,000 in January 2024. In June 2024, the Company awarded and issued an aggregate of 150,000 shares of restricted common stock to two employees that vests quarterly over one year from each employee’s start date. The Company determined that the fair value of these awards was $3.15 per share for a total value of $472,500. The Company recorded stock compensation from stock awards totaling $2,323,171 and $2,164,912 for the three months ended June 30, 2024 and 2023, respectively. The Company recorded stock compensation from stock awards totaling $3,840,639 and $3,952,800 for the six months ended June 30, 2024 and 2023, respectively. As of June 30, 2024, there is $6,996,549 of unrecognized compensation cost related to the non-vested portion of restricted stock awards that is expected to be recognized over the next year. The following table summarizes vesting of restricted common stock: Number of Shares Weighted Average Grant Date Fair Value Per Share Unvested as of December 31, 2023 4,489,186 $ 1.42 Granted 250,000 $ 3.54 Vested (1,864,186 ) $ 0.54 Forfeited and retired (325,000 ) $ 1.19 Unvested as of June 30, 2024 2,550,000 $ 2.45 Stock-based Compensation Expense Stock-based compensation expense for all stock awards recognized in the accompanying consolidated statements of operations and comprehensive loss is as follows: Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Selling, general and administrative $ 2,436,295 $ 2,281,277 $ 4,066,886 $ 4,332,985 Research and development 81,721 93,409 164,784 185,800 Total $ 2,518,016 $ 2,374,686 $ 4,231,670 $ 4,518,785

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2024
Net Loss Per Share
Net Loss Per Share	14. Net Loss Per Share The Company has reported losses since inception and has computed basic net loss per share attributable to common stockholders by dividing net loss attributable to common stockholders by the weighted-average number of shares of Common Stock outstanding for the period, without consideration for potentially dilutive securities. The Company computes diluted net loss per share of Common Stock after giving consideration to all potentially dilutive shares of common stock, including options to purchase common stock and warrants to purchase common stock, outstanding during the period determined using the treasury-stock and if-converted methods, except where the effect of including such securities would be antidilutive. Because the Company has reported net losses since inception, these potential shares of Common Stock have been anti-dilutive and basic and diluted loss per share were the same for all periods presented. The following table sets forth the computation of basic and diluted net loss per share for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator: Net loss attributable to ASP Isotopes Inc. shareholders before deemed dividend on warrant to purchase common stock $ (8,932,925 ) $ (4,286,346 ) $ (15,881,010 ) $ (7,901,424 ) Deemed dividend on warrant to purchase common stock (2,779,659 ) - (2,779,659 ) - Net loss attributable to ASP Isotopes Inc. shareholders $ (11,712,584 ) $ (4,286,346 ) $ (18,660,669 ) $ (7,901,424 ) Denominator: Weighted average common stock outstanding, basic and diluted 49,136,009 29,796,065 46,848,926 29,535,060 Net loss per share, basic and diluted $ (0.24 ) $ (0.14 ) $ (0.40 ) $ (0.27 ) The following table sets forth the potentially dilutive securities that have been excluded from the calculation of diluted net loss per share because to include them would be anti-dilutive: As of June 30, 2024 2023 Options to purchase common stock 2,731,000 2,851,000 Warrants to purchase common stock 1,446,519 3,386,076 Unvested restricted stock 2,550,000 6,867,562 Total shares of common stock equivalents 6,727,519 13,104,638

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Taxes
Income Taxes	15. Income Taxes The Company’s effective tax rate for the three months ended June 30, 2024 was -0.1%. The Company had no income tax expense due to operating losses incurred for the three months ended June 30, 2023, as the Company had a full valuation allowance on the net deferred tax asset. The effective tax rate for the three month period ended June 30, 2024 varied from the federal statutory rate primarily due to losses in jurisdictions for which a valuation allowance is recorded. The Company’s effective tax rate for the six months ended June 30, 2024 was 0.2%. The Company had no income tax expense due to operating losses incurred for the six months ended June 30, 2023, as the Company had a full valuation allowance on the net deferred tax asset. The effective tax rate for the six month period ended June 30, 2024 varied from the federal statutory rate primarily due to losses in jurisdictions for which a valuation allowance is recorded. The Company recognizes a tax benefit from an uncertain tax position when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. Income tax positions must meet a more likely than not recognition threshold to be recognized. The Company’s practice is to recognize interest and/or penalties related to income tax matters in income tax expense. The Company had no accrual for interest and penalties on the Company’s balance sheets and has not recognized interest and/or penalties in the statements of operations and comprehensive loss for the three and six months ended June 30, 2024. Uncertain tax positions are evaluated based upon the facts and circumstances that exist at each reporting period. Subsequent changes in judgment based upon new information may lead to changes in recognition, derecognition, and measurement. Adjustments may result, for example, upon resolution of an issue with the taxing authorities or expiration of a statute of limitations barring an assessment for an issue. As of June 30, 2024, there were no uncertain tax positions. As of June 30, 2024, the Company did not recognize any interest and penalties associated with unrecognized tax benefits. Due to net operating losses incurred, tax years from inception remain open to examination by the Federal and State taxing jurisdictions to which we are subject. The Company is not currently under Internal Revenue Services (IRS), state or local tax examination. Ownership changes, as defined in the IRC, may limit the amount of net operating loss carryforwards that can be utilized annually to offset future taxable income pursuant to IRC Section 382 or similar provisions. Subsequent ownership changes could further affect the limitation in future years. The Company has not completed a study to assess whether a change of control has occurred or whether there have been multiple changes of control since the Company’s formation due to the significant complexity and cost associated with such study and because there could be additional changes in control in the future. As a result, the Company is not able to estimate the effect of the change in control, if any, on the Company’s ability to utilize net operating loss and research and development credit carryforwards in the future.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events
Subsequent Events	16. Subsequent Events The Company has evaluated subsequent events through August 19, 2024, the date on which the accompanying condensed consolidated financial statements were issued and concluded that no subsequent events have occurred that require disclosure except as noted in Note 12.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Basis of Presentation and Summary of Significant Accounting Policies
Unaudited Financial Information	The Company’s unaudited condensed consolidated financial statements included herein have been prepared in conformity with accounting principles generally accepted in the United States of America, or GAAP, and pursuant to the rules and regulations of the Securities and Exchange Commission, or SEC. In the Company’s opinion, the information furnished reflects all adjustments, all of which are of a normal and recurring nature, necessary for a fair presentation of the financial position and results of operations for the reported interim periods. The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. The results of operations for interim periods are not necessarily indicative of results to be expected for the full year or any other interim period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and related notes for the year ended December 31, 2023.
Basis of Presentation and Use of Estimates	The Company’s condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The preparation of the Company’s condensed consolidated financial statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and disclosure in the Company’s condensed consolidated financial statements and accompanying notes. The most significant estimates in the Company’s consolidated financial statements relate to stock based compensation, the accounting for the acquisition of PET Labs Pharmaceuticals and fair value measurement of the convertible notes payable and warrants. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may materially differ from these estimates and assumptions.
Principles of consolidation	The Company’s condensed consolidated financial statements include the accounts of ASP Isotopes Inc., its wholly-owned subsidiaries, the 80% owned Enlightened Isotopes, the 51% owned PET Labs Pharmaceuticals and the 24% owned VIE ASP Rentals. All intercompany balances and transactions have been eliminated in consolidation.
Currency and currency translation	The condensed consolidated financial statements are presented in U.S. dollars, the Company’s reporting currency. The functional currency of ASP Isotopes Inc. and ASP Guernsey is the U.S. dollar. The functional currency of the Company’s subsidiaries ASP South Africa and Quantum Leap Energy South Africa is the South African Rand. The functional currency of the 80% owned Enlighted Isotopes, the 51% owned PET Labs Pharmaceuticals and the 24% owned VIE ASP Rentals is the South African Rand. Adjustments that arise from exchange rate changes on transactions of each group entity denominated in a currency other than the functional currency are included in other income and expense in the consolidated statements of operations. Assets and liabilities of the entities with functional currency of South African Rand are recorded in South African Rand and translated into the U.S. dollar reporting currency of the Company at the exchange rate on the balance sheet date. Revenue and expenses of the entities with functional currency of South African Rand are recorded in South African Rand and translated into the U.S. dollar reporting currency of the Company at the average exchange rate prevailing during the reporting period. Resulting translation adjustments are recorded separately in stockholders’ equity as a component of accumulated other comprehensive (loss) income.
Concentration of Credit Risk and other Risks	Cash balances maintained at U.S. financial institutions may exceed the Federal Deposit Insurance Corporation (“FDIC”) insurance limit of $250,000 per depositor, per insured bank for each account ownership category. Although the Company currently believes that the financial institutions with whom it does business, will be able to fulfill their commitments to the Company, there is no assurance that those institutions will be able to continue to do so. The Company has not experienced any credit losses associated with its balances in such accounts for the six months ended June 30, 2024 and 2023. Our foreign subsidiaries held cash of approximately $1,885,000 and $1,963,000 as of June 30, 2024 and December 31, 2023, respectively, which is included in cash on the consolidated balance sheets. Our strategic plan does not require the repatriation of foreign cash in order to fund our operations in the U.S., and it is our current intention to indefinitely reinvest our foreign cash outside of the U.S. If we were to repatriate foreign cash to the U.S., we would be required to accrue and pay U.S. taxes in accordance with applicable U.S. tax rules and regulations as a result of the repatriation.
Cash and Cash Equivalents	The Company considers all highly liquid investments with original maturities at the date of purchase of three months or less to be cash equivalents. Cash and cash equivalents are stated at fair value and may include money market funds, U.S. Treasury and U.S. government-sponsored agency securities, corporate debt, commercial paper and certificates of deposit. The Company had cash equivalents of $146,500 in the form of money market funds as of June 30, 2024. The Company had no cash equivalents as of December 31, 2023.
Segment Information	As of December 31, 2023, we managed our operations as a single segment, specialist isotopes and related services. Beginning in 2024, primarily as a result of increased business activities of our subsidiary, Quantum Leap Energy LLC, we have two operating segments: (i) nuclear fuels, and (ii) specialist isotopes and related services. The nuclear fuels segment is focused on research and development of technologies and methods used to produce high-assay low-enriched uranium (HALEU) and Lithium-6 for the advanced nuclear fuels target end market. The specialist isotopes and related services segment is focused on research and development of technologies and methods used to separate high-value, low-volume isotopes (such as C-14, Mo-100 and Si-28) for highly specialized target end markets other than advanced nuclear fuels, including pharmaceuticals and agrochemicals, nuclear medical imaging and semiconductors, as well as services related to these isotopes, and this segment includes PET Labs Pharmaceuticals. The financial information is regularly reviewed by the chief operating decision maker (“CODM”) in deciding how to allocate resources. The Company’s CODM is its chief executive officer. The Company manages assets on a total company basis, not by operating segment, as the assets are shared or commingled. Therefore, the chief operating decision maker does not regularly review any asset information by operating segment and, accordingly, asset information is not reported on a segment basis. Select income statement information as of the three months ended June 30, 2024 and 2023 is as follows: Revenues Net Loss Before Allocation to Noncontrolling Interest Segment Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Specialist isotopes and related services $ 1,022,299 $ - $ (6,029,170 ) $ (4,286,346 ) Nuclear fuels - - (2,852,272 ) - $ 1,022,299 $ - $ (8,881,442 ) $ 4,286,346 ) Select income statement information as of the six months ended June 30, 2024 and 2023 is as follows: Revenues Net Loss Before Allocation to Noncontrolling Interest Segment Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Specialist isotopes and related services $ 1,862,653 $ - $ (10,915,007 ) $ (7,901,424 ) Nuclear fuels - - (4,931,279 ) - $ 1,862,653 $ - $ (15,846,286 ) $ (7,901,424 )
Fair Value of Financial Instruments	Accounting guidance defines fair value, establishes a consistent framework for measuring fair value, and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the accounting guidance establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The Company’s share liability (Note 12) is measured as a Level 1 fair value on a recurring basis and was $306,000 as of June 30, 2024. There was no share liability as of December 31, 2023. The Company’s convertible notes payable (Note 6) is measured as a Level 3 fair value on a recurring basis and was $29,086,669 as of June 30, 2024. There were no transfers among Level 1, Level 2 or Level 3 categories in the six months ended June 30, 2024. The following table provides a reconciliation of the Company’s liabilities measured at fair value on a recurring basis using significant unobservable inputs: Convertible Notes Payable Share Liability Balance as of December 31, 2022 $ - $ 140,455 Fair value at issuance - 669,700 Fair value adjustment - 194,540 Settlement of liability - (1,004,695 ) Balance as of December 31, 2023 - - Fair value at issuance 26,558,143 435,600 Fair value adjustment 2,528,526 54,000 Settlement of liability - (183,600 ) Balance as of June 30, 2024 $ 29,086,669 $ 306,000 The carrying amounts of accounts payable, accrued expenses and notes payable are considered to be representative of their respective fair values because of the short-term nature of those instruments.
Revenue Recognition	The Company’s revenue relates to PET Labs Pharmaceuticals, in which the Company acquired 51% ownership on October 31, 2023 (Note 11). The Company recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). The Company enters into transactions with radiopharmacy companies that are within the scope of ASC 606. The terms of these transactions include payment for delivery of nuclear medical doses for PET scanning in South Africa. Under ASC 606, an entity recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. To determine the appropriate amount of revenue to be recognized for arrangements determined to be within the scope of ASC 606, the Company performs the following five steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect consideration it is entitled to in exchange for the goods or services it transfers to the customer. The Company evaluates a transaction’s performance obligations to determine if promised goods or services in a contract to transfer a distinct good or service to the customer and are considered distinct when (i) the customer can benefit from the good or service on its own or together with other readily available resources and (ii) the promised good or service is separately identifiable from other promises in the contract. In assessing whether promised goods or services are distinct, the Company considers whether the goods or services are integral or dependent to other goods or services in the contract. The Company determines the transaction price based on the agreed government rates for the promised goods in the contract. The consideration is recognized as revenue when control is transferred for the related goods. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. The Company receives payments from its customers based on billing schedules established in each contract. Upfront payments and fees are recorded as deferred revenue upon receipt or when due until the Company performs its obligations under these arrangements. Amounts are recorded as accounts receivable when the Company’s right to consideration is unconditional.
Accounts Receivable	Accounts receivable are stated at the amount management expects to collect from outstanding balances. An allowance for expected credit losses is estimated for those accounts receivable considered to be uncollectible based upon historical experience and management's evaluation of outstanding accounts receivable. We maintain an allowance for expected credit losses for accounts receivable, which is recorded as an offset to accounts receivable, and changes in such are classified as selling, general and administrative expense in the Consolidated Statements of Operations and Comprehensive Loss. We assess collectability by reviewing accounts receivable on a collective basis where similar characteristics exist and on an individual basis when we identify specific customers with known disputes or collectability issues. In determining the amount of the allowance for credit losses, we consider historical collectability based on past due status and make judgments about the creditworthiness of customers based on ongoing credit evaluations. We also consider customer-specific information, current market conditions, and reasonable and supportable forecasts of future economic conditions. Bad debts are written off against the allowance when identified. As of June 30, 2024, December 31, 2023 and January 1, 2023 there was no allowance for expected credit losses.
Property and Equipment	Property and equipment include costs of assets constructed, purchased or leased under a finance lease, related delivery and installation costs and interest incurred on significant capital projects during their construction periods. Expenditures for renewals and betterments also are capitalized, but expenditures for normal repairs and maintenance are expensed as incurred. Costs associated with yearly planned major maintenance are generally deferred and amortized over 12 months or until the same major maintenance activities must be repeated, whichever is shorter. The cost and accumulated depreciation applicable to assets retired or sold are removed from the respective accounts, and gains or losses thereon are included in the statement of operations and comprehensive loss. We assign the useful lives of our property and equipment based upon our internal engineering estimates, which are reviewed periodically. The estimated useful lives of our property and equipment range from 3 to 10 years, or the shorter of the useful life or remaining life of the lease for leasehold improvements. Depreciation is recorded using the straight-line method. Construction in progress (Note 4) is carried at cost and consists of specifically identifiable direct and indirect development and construction costs. While under construction, costs of the property are included in construction in progress until the property is placed in service, at which time costs are transferred to the appropriate property and equipment account, including, but not limited to, leasehold improvements or other such accounts. Property and equipment acquired from the PET Labs Pharmaceutical Acquisition was measured at fair value on October 31, 2023. The fair value forms the new basis of these assets and is depreciated over the remaining estimated useful lives of the related assets.
Business Combination and Asset Acquisitions	The Company evaluates acquisitions of assets and other similar transactions to assess whether or not the transaction should be accounted for as a business combination or asset acquisition by first applying a screen to determine if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. If the screen is met, the transaction is accounted for as an asset acquisition. If the screen is not met, further determination is required as to whether or not the Company has acquired inputs and processes that have the ability to create outputs, which would meet the requirements of a business. If determined to be a business combination, the Company accounts for the transaction under the acquisition method of accounting in accordance with ASC 805 Business Combinations, which requires the acquiring entity in a business combination to recognize the fair value of all assets acquired, liabilities assumed, and any non-controlling interest in the acquiree and establishes the acquisition date as the fair value measurement point. Accordingly, the Company recognizes assets acquired and liabilities assumed in business combinations, including contingent assets and liabilities, and non-controlling interest in the acquiree based on the fair value estimates as of the date of acquisition. In accordance with ASC 805, the Company recognizes and measures goodwill as of the acquisition date, as the excess of the fair value of the consideration paid over the fair value of the identified net assets acquired. The consideration for the Company’s business acquisitions may include future payments that are contingent upon the occurrence of a particular event or events. The obligations for such contingent consideration payments are recorded at fair value on the acquisition date. The contingent consideration obligations are then evaluated each reporting period. Changes in the fair value of contingent consideration, other than changes due to payments, are recognized as a gain or loss and recorded within change in the fair value of deferred and contingent consideration liabilities in the consolidated statements of comprehensive loss. If determined to be an asset acquisition, the Company accounts for the transaction under ASC 805-50, which requires the acquiring entity in an asset acquisition to recognize assets acquired and liabilities assumed based on the cost to the acquiring entity on a relative fair value basis, which includes transaction costs in addition to consideration given. No gain or loss is recognized as of the date of acquisition unless the fair value of non-cash assets given as consideration differs from the assets’ carrying amounts on the acquiring entity’s books. Consideration transferred that is non-cash will be measured based on either the cost (which shall be measured based on the fair value of the consideration given) or the fair value of the assets acquired and liabilities assumed, whichever is more reliably measurable. Goodwill is not recognized in an asset acquisition and any excess consideration transferred over the fair value of the net assets acquired is allocated to the identifiable assets based on relative fair values. Contingent consideration payments in asset acquisitions are recognized when the contingency is resolved and the consideration is paid or becomes payable (unless the contingent consideration meets the definition of a derivative, in which case the amount becomes part of the basis in the asset acquired). Upon recognition of the contingent consideration payment, the amount is included in the cost of the acquired asset or group of assets.
Goodwill	Goodwill represents the amount of consideration paid in excess of the fair value of net assets acquired as a result of the Company’s business acquisitions accounted for using the acquisition method of accounting. Goodwill is not amortized and is subject to impairment testing at a reporting unit level on an annual basis or when a triggering event occurs that may indicate the carrying value of the goodwill is impaired. An entity is permitted to first assess qualitative factors to determine if a quantitative impairment test is necessary. Further testing is only required if the entity determines, based on the qualitative assessment, that it is more likely than not that the fair value of the reporting unit is less than its carrying amount. The Company will perform its annual test for goodwill as of October 31.
Variable Interest Entities	The Company accounts for the investments it makes in certain legal entities in which equity investors do not have (1) sufficient equity at risk for the legal entity to finance its activities without additional subordinated financial support, or (2) as a group, the holders of the equity investment at risk do not have either the power, through voting or similar rights, to direct the activities of the legal entity that most significantly impact the entity’s economic performance, or (3) the obligation to absorb the expected losses of the legal entity or the right to receive expected residual returns of the legal entity. These certain legal entities are referred to as “variable interest entities” or “VIEs.” The Company would consolidate the results of any such entity in which it determined that it had a controlling financial interest. The Company would have a “controlling financial interest” in such an entity if the Company had both the power to direct the activities that most significantly affect the VIE’s economic performance and the obligation to absorb the losses of, or right to receive benefits from, the VIE that could be potentially significant to the VIE. On a quarterly basis, the Company will reassess whether it has a controlling financial interest in any investments it has in these certain legal entities.
Convertible Notes Payable	Convertible notes payable are accounted for in accordance with ASC 825, Financial Instruments Upon issuance the Company has elected the fair value option to account for the convertible notes payable. Changes in fair value during the reporting period are recognized in other income (expense) in the consolidated statement of operations and comprehensive loss.
Leases	Leases are accounted for in accordance with ASC 842, Leases At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on specific facts and circumstances, the existence of an identified asset(s), if any, and the Company’s control over the use of the identified asset(s), if applicable. Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of future lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not readily determinable. As such, the Company will utilize the incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment, and considering the region in which the ROU asset and liabilities are located. The Company has elected to combine lease and non-lease components as a single component. Operating leases are recognized on the balance sheet as ROU lease assets, lease liabilities current and lease liabilities non-current. Fixed rents are included in the calculation of the lease balances, while variable costs paid for certain operating and pass-through costs are excluded. Lease expense is recognized over the expected term on a straight-line basis. Finance leases are recognized on the balance sheet as property and equipment, finance lease liabilities current and finance lease liabilities non-current. Finance lease ROU assets and the related lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. The finance lease ROU assets are amortized on a straight-line basis over the lease term with the related interest expense of the lease liability payment recognized over the lease term using the effective interest method.
Impairment of Long-lived Assets	Long-lived assets consist primarily of property and equipment. The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of an asset is not recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the asset exceeds the fair value of the assets. The Company did not recognize any impairment losses for the three and six months ended June 30, 2024 or 2023.
Research and Development Costs	Research and development costs consist primarily of fees paid to consultants, license fees and facilities costs. Nonrefundable advance payments for goods and services that will be used in future research and development activities are expensed when the activity has been performed or when the goods have been received rather than when the payment is made. All research and development costs are expensed as incurred.
Selling, General and Administrative Costs	Selling, general and administrative expenses consist primarily of salaries and related benefits, including stock-based compensation, related to our executive, finance, business development, legal, human resources and support functions. Other general and administrative expenses include professional fees for auditing, tax, consulting and patent-related services, rent and utilities and insurance.
Stock-based Compensation	Stock-based compensation expense represents the cost of the grant date fair value of employee stock awards recognized over the requisite service period of the awards (usually the vesting period) on a straight-line basis. The Company estimates the fair value of each stock-based award on the date of grant using the Black-Scholes option pricing model. The Black-Scholes option pricing model incorporates various assumptions, such as the value of the underlying common stock, the risk-free interest rate, expected volatility, expected dividend yield, and expected life of the options. Forfeitures are recognized as a reduction of stock-based compensation expense as they occur. The Company also awards restricted stock to employees and directors. Restricted stock is generally subject to forfeiture if employment terminates prior to the completion of the vesting restrictions. The Company expenses the cost of the restricted stock, which is determined to be the fair market value of the shares of common stock underlying the restricted stock at the date of grant, ratably over the period during which the vesting restrictions lapse. Equity-based compensation expense is classified in the statement of operations and comprehensive loss in the same manner in which the award recipients’ payroll costs are classified or in which the award recipients’ service payments are classified.
Income Taxes	Deferred income tax assets and liabilities arise from temporary differences associated with differences between the financial statements and tax basis of assets and liabilities, as measured by the enacted tax rates, which are expected to be in effect when these differences reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Prior to the acquisition of 51% of PET Labs Pharmaceuticals in October 2023, the Company had generated net losses since inception and accordingly had not recorded a provision for income taxes. Subsequent to the acquisition of 51% of PET Labs Pharmaceuticals, the Company records the provision for income taxes for the activity from PET Labs Pharmaceuticals operations. The Company follows the provisions of ASC 740-10, Uncertainty in Income Taxes, The Company has identified the United States, South Africa and Guernsey as its major tax jurisdictions. Refer to Note 15 for further details.
Comprehensive Loss	Comprehensive loss is defined as a change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company’s comprehensive loss is comprised of net loss and the effect of currency translation adjustments.
Recently Issued Accounting Pronouncements	The Company has reviewed recently issued accounting pronouncements and plans to adopt those that are applicable to it. The Company does not expect the adoption of any recently issued pronouncements to have a material impact on its results of operations or financial position.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Basis of Presentation and Summary of Significant Accounting Policies
Schedule of income statement information	Revenues Net Loss Before Allocation to Noncontrolling Interest Segment Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Specialist isotopes and related services $ 1,022,299 $ - $ (6,029,170 ) $ (4,286,346 ) Nuclear fuels - - (2,852,272 ) - $ 1,022,299 $ - $ (8,881,442 ) $ 4,286,346 ) Revenues Net Loss Before Allocation to Noncontrolling Interest Segment Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Specialist isotopes and related services $ 1,862,653 $ - $ (10,915,007 ) $ (7,901,424 ) Nuclear fuels - - (4,931,279 ) - $ 1,862,653 $ - $ (15,846,286 ) $ (7,901,424 )
Schedule of liabilities measured at fair value on a recurring basis	Convertible Notes Payable Share Liability Balance as of December 31, 2022 $ - $ 140,455 Fair value at issuance - 669,700 Fair value adjustment - 194,540 Settlement of liability - (1,004,695 ) Balance as of December 31, 2023 - - Fair value at issuance 26,558,143 435,600 Fair value adjustment 2,528,526 54,000 Settlement of liability - (183,600 ) Balance as of June 30, 2024 $ 29,086,669 $ 306,000

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue
Schedule of changes in accounts receivable	Balance as of December 31, 2023 Additions Deductions Balance as of June 30, 2024 Accounts receivable $ 216,504 $ 1,862,653 $ (1,563,707 ) $ 515,450

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2024
Property and Equipment
Schedule of property and equipment	Useful Lives (Years) June 30, 2024 December 31, 2023 Construction in progress - $ 11,081,094 $ 9,108,923 Tools, machinery and equipment 3 - 8 6,465,952 1,458,654 Computer equipment 3 - 4 105,085 60,447 Vehicles 5 191,153 39,849 Software 5 1,651 1,639 Office furniture 7 125,145 59,588 Leasehold improvements 5 80,836 21,446 Property and equipment, at cost 18,050,916 10,750,546 Less accumulated depreciation (276,128 ) (37,707 ) Property and equipment, net $ 17,774,788 $ 10,712,839

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2024
Accrued Expenses
Schedule of accrued expenses	June 30, 2024 December 31, 2023 Accrued professional $ 948,470 $ 447,295 Accrued salaries and other employee costs 1,375,950 845,344 Accrued other 131,090 18,606 Total accrued expenses $ 2,455,510 $ 1,311,245

Lease (Tables)

Lease (Tables)	6 Months Ended
	Jun. 30, 2024
Lease
Summary of long leases in the condensed consolidated balance sheet	ROU Asset Operating Lease Liability - Current Operating Lease Liability – Non-Current Total Operating Lease Liability Lease: Office and laboratory, Pretoria, South Africa $ 595,655 $ 59,746 $ 611,220 $ 670,966 Additional production, Pretoria, South Africa 306,197 177,221 128,976 306,197 Laboratory, Pretoria, South Africa 58,177 22,059 37,424 59,483 Office and production, Pretoria, South Africa 457,373 282,770 237,154 519,924 Total $ 1,417,402 $ 541,796 $ 1,014,774 $ 1,556,570 ROU Asset Operating Lease Liability - Current Operating Lease Liability – Non-Current Total Operating Lease Liability Lease: Office and laboratory, Pretoria, South Africa $ 626,548 $ 53,504 $ 637,348 $ 690,852 Laboratory, Pretoria, South Africa 68,089 19,608 48,805 68,413 Office and production, Pretoria, South Africa 564,064 263,452 380,494 643,946 Total $ 1,258,701 $ 336,564 $ 1,066,647 $ 1,403,211
Schedule of quantitative information regarding operating lease	Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Operating Lease Cost Operating lease cost $ 167,692 $ 28,069 $ 316,592 $ 59,229 Other Information Operating cash flows paid for amounts included in the measurement of lease liabilities $ 162,037 $ 21,572 $ 305,375 $ 45,520 Operating lease liabilities arising from obtaining right-of-use assets $ - $ - $ 364,458 $ - Weighted average remaining lease term (years) 3.80 7.50 3.80 7.50 Weighted average discount rate 10.12 % 7.50 % 10.12 % 7.50 %
Schedule of future lease payments under noncancelable operating leases	Operating Leases Future Lease Payments 2024 (remaining six months) $ 335,331 2025 676,330 2026 263,476 2027 129,538 2028 139,254 Thereafter 310,624 Total lease payments $ 1,854,553 Less: imputed interest (297,983 ) Total lease liabilities $ 1,556,570 Less current portion (541,796 ) Lease liability – noncurrent $ 1,014,774
Schedule of quantitative information regarding the Company's finance lease liabilities	Three Months Ended June 30, 2024 Three Months ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Finance Lease Cost Interest on lease liabilities $ 16,893 $ — $ 23,933 $ — Other Information Operating cash flows paid for amounts included in the measurement of finance lease liabilities $ 24,468 $ — $ 38,846 $ — Amortization of right-of-use assets $ 9,871 $ — $ 19,312 $ — Weighted average remaining lease term (years) 4.4 — 4.4 — Weighted average discount rate 12.9 % — % 12.9 % — %
Schedule of future lease payments under noncancelable finance leases	Finance Leases Future Lease Payments 2024 (remaining six months) $ 101,183 2025 203,143 2026 202,645 2027 195,913 2028 157,005 Thereafter 47,463 Total lease payments $ 907,352 Less: imputed interest (224,191 ) Total lease liabilities $ 683,161 Less current portion (120,595 ) Lease liability – noncurrent $ 562,566

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2024
Acquisitions
Schedule of purchase consideration to the fair value of assets acquired and liabilities assumed	Cash $ 500,000 Present value of balance due 1,395,348 $ 1,895,348 Cash and cash equivalents $ 378,152 Accounts receivable 460,165 Other current assets 184,457 Property and equipment 821,926 Right of use assets 592,304 Financial liabilities (1,248,699 ) Right of use liabilities (677,163 ) Total identifiable net assets 511,142 Noncontrolling interest (1,821,021 ) Goodwill 3,205,227 $ 1,895,348
Schedule of change in carrying value of goodwill	Balance as of October 31, 2023 (acquisition date) $ 3,205,227 Translation adjustment 61,876 Balance as of December 31, 2023 3,267,103 Translation adjustment 22,060 Balance as of June 30, 2024 $ 3,289,163

Stockholders Equity (Tables)

Stockholders Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Stockholders Equity
Schedule of share liability	Share Liability as of December 31, 2023 New Share Liabilities in 2024 Mark to Market Adjustments in 2024 Liabilities Settled in 2024 Share Liabilities as of June 30, 2024 Share liabilities originated in 2024 $ - $ 435,600 $ 54,000 $ (183,600 ) $ 306,000 Share Liability as of December 31, 2022 New Share Liabilities in 2023 Mark to Market Adjustments in 2023 Liabilities Settled in 2023 Share Liabilities as of June 30, 2023 Share liabilities originated in 2022 $ 140,455 $ - $ (14,885 ) $ (75,570 ) $ 50,000 Share liabilities originated in 2023 - 496,300 (155,500 ) - 340,800 $ 140,455 $ 496,300 $ (170,385 ) $ (75,570 ) $ 390,800
Schedule of assumptions used for fair value of warrants	Expected volatility 60.3 % Weighted-average risk-free rate 3.44 % Expected term in years 5.5 Expected dividend yield 0 % Expected volatility 73.5 % Weighted-average risk-free rate 4.37 % Expected term in years 5.5 Expected dividend yield 0 %

Stock Compensation Plan (Tables

Stock Compensation Plan (Tables)	6 Months Ended
	Jun. 30, 2024
Stock Compensation Plan
Schedule of company's stock options	Number of Options Weighted- Average Exercise Price per Share Weighted Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value Outstanding as of December 31, 2023 2,766,000 $ 1.91 8.4 $ 231,000 Granted - $ - Forfeited (35,000 ) $ 2.00 Outstanding as of June 30, 2024 2,731,000 $ 1.90 7.9 $ 3,157,360 Exercisable as of June 30, 2024 1,996,623 $ 1.88 7.9 $ 2,356,120 Vested or expected to vest as of June 30, 2024 2,731,000 $ 1.90 7.9 $ 3,157,360
Schedule of summarizes vesting of restricted common stock	Number of Shares Weighted Average Grant Date Fair Value Per Share Unvested as of December 31, 2023 4,489,186 $ 1.42 Granted 250,000 $ 3.54 Vested (1,864,186 ) $ 0.54 Forfeited and retired (325,000 ) $ 1.19 Unvested as of June 30, 2024 2,550,000 $ 2.45
Schedule of stock-based compensation expense	Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Selling, general and administrative $ 2,436,295 $ 2,281,277 $ 4,066,886 $ 4,332,985 Research and development 81,721 93,409 164,784 185,800 Total $ 2,518,016 $ 2,374,686 $ 4,231,670 $ 4,518,785

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Net Loss Per Share
Schedule of basic and diluted net loss per share	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Numerator: Net loss attributable to ASP Isotopes Inc. shareholders before deemed dividend on warrant to purchase common stock $ (8,932,925 ) $ (4,286,346 ) $ (15,881,010 ) $ (7,901,424 ) Deemed dividend on warrant to purchase common stock (2,779,659 ) - (2,779,659 ) - Net loss attributable to ASP Isotopes Inc. shareholders $ (11,712,584 ) $ (4,286,346 ) $ (18,660,669 ) $ (7,901,424 ) Denominator: Weighted average common stock outstanding, basic and diluted 49,136,009 29,796,065 46,848,926 29,535,060 Net loss per share, basic and diluted $ (0.24 ) $ (0.14 ) $ (0.40 ) $ (0.27 )
Schedule of antidilutive securities	As of June 30, 2024 2023 Options to purchase common stock 2,731,000 2,851,000 Warrants to purchase common stock 1,446,519 3,386,076 Unvested restricted stock 2,550,000 6,867,562 Total shares of common stock equivalents 6,727,519 13,104,638

Organization (Details Narrative

Organization (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Cash and cash equivalents	$ 28,262,332	$ 3,626,165	$ 7,908,181	$ 2,389,140
Proceeds from issuance of common stock	5,537,975	5,000,000
Net Income (Loss) Attributable to Parent	15,846,286	$ 7,901,424
Common Stocks
Proceeds from issuance of common stock	$ 34,500,000

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues	$ 1,022,299	$ 0	$ 1,862,653	$ 0
Net Loss Before Allocation to Noncontrolling Interest	(8,867,673)	(4,286,346)	(15,880,136)	(7,901,424)
Specialist isotopes and related services [Member]
Revenues	1,022,299	0	1,862,653	0
Net Loss Before Allocation to Noncontrolling Interest	(6,029,170)	(4,286,346)	(10,915,007)	(7,901,424)
Nuclear fuels [Member]
Revenues	0	0	0	0
Net Loss Before Allocation to Noncontrolling Interest	(2,852,272)	0	(4,931,279)	0
Total Segment [Member]
Revenues	1,022,299	0	1,862,653	0
Net Loss Before Allocation to Noncontrolling Interest	$ (8,881,442)	$ (4,286,346)	$ (15,846,286)	$ (7,901,424)

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies (Details 1) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Fair value, opening balance	$ 0	$ 140,455
Fair value at issuance	435,600	669,700
Fair value adjustment	54,000	194,540
Settlement of share liability	(183,600)	(1,004,695)
Fair value, ending balance	306,000	0
Convertible Notes Payable [Member]
Fair value, opening balance	0	0
Fair value at issuance	26,558,143	0
Fair value adjustment	2,528,526	0
Settlement of share liability	0	0
Fair value, ending balance	$ 29,086,669	$ 0

Basis of Presentation and Sum_6

Basis of Presentation and Summary of Significant Accounting Policies (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Federal deposit insurance limit	$ 250,000
Money market funds	146,500
Cash held by subsidiaries	$ 1,885,000	$ 1,963,000
Ownership percentage of acquisition	51%
Fair value liability	$ 306,000
Fair value on a recurring basis	$ 29,086,669
Minimum [Member] | Property and equipment [Member]
Estimated useful lives	3 years
Maximum [Member] | Property and equipment [Member]
Estimated useful lives	10 years

Revenue (Details)

Revenue (Details)	6 Months Ended
	Jun. 30, 2024 USD ($)
Revenue
Accounts receivable	$ 216,504
Additions	1,862,653
Deductions	(1,563,707)
Accounts receivable	$ 515,450

Revenue (Details Narrative)

Revenue (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Revenue
Recognized revenue	$ 1,022,299	$ 1,862,653
Ownership percentage of acquisition		51%

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Property and equipment, at cost	$ 18,050,916	$ 10,750,546
Accumulated deprecation	(276,128)	(37,707)
Property and equipment, net	17,774,788	10,712,839
Construction In Progress
Property and equipment, at cost	11,081,094	9,108,923
Tools, machinery and equipment
Property and equipment, at cost	$ 6,465,952	1,458,654
Tools, machinery and equipment | Minimum [Member]
Property and Equipment Useful Lives	3 years
Tools, machinery and equipment | Maximum [Member]
Property and Equipment Useful Lives	8 years
Computer Equipment [Member]
Property and equipment, at cost	$ 105,085	60,447
Computer Equipment [Member] | Minimum [Member]
Property and Equipment Useful Lives	3 years
Computer Equipment [Member] | Maximum [Member]
Property and Equipment Useful Lives	4 years
Vehicles
Property and equipment, at cost	$ 191,153	39,849
Property and Equipment Useful Lives	5 years
Software
Property and equipment, at cost	$ 1,651	1,639
Property and Equipment Useful Lives	5 years
Office furniture
Property and equipment, at cost	$ 125,145	59,588
Property and Equipment Useful Lives	7 years
Leasehold improvements
Property and equipment, at cost	$ 80,836	$ 21,446
Property and Equipment Useful Lives	5 years

Property and Equipment (Detai_2

Property and Equipment (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Depreciation expense			$ 249,714	$ 167
Other Asset [Member]
Depreciation expense	$ 146,504	$ 167	$ 249,714	$ 167

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Accrued Expenses
Accrued professional	$ 948,470	$ 447,295
Accrued salaries and other employee costs	1,375,950	845,344
Accrued other	131,090	18,606
Total accrued expenses	$ 2,455,510	$ 1,311,245

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) - USD ($)	1 Months Ended			3 Months Ended	6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Nov. 30, 2023	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2021
Fair value of additional liability	$ 5,494,395	$ 21,063,748			$ 21,063,748
Proceeds from issuance of notes payable			$ 526,282
Annual interest rate			8.74%
Interest expense				$ 4,499	11,247
Selling general and administrative costs		521,423
Other income and expense					1,574,816
Total promissory notes payable balance	31,610			31,610	31,610		$ 31,827
Convertible note payable for non-cash issuance costs	108,167	513,748			621,915	$ 0
Change in fair value of convertible notes payable					2,528,526
Interest amount	420,770			420,770	420,770
Convertible notes payable, at fair value	29,086,669			29,086,669	29,086,669		0
Total principal and accrued interest of the Convertible Notes	26,978,913			26,978,913	26,978,913
Proceeds from issuance of convertible notes payable	5,386,228	$ 20,550,000			25,936,228	$ 0
Issuance of convertible notes upon the date					$ 5,494,395
Description of annual interest rate					The Convertible Notes are payable on demand in March 2029 and bear an annual interest rate of 6% through March 7, 2025 and 8% thereafter.
Promissory Note [Member]
Total promissory notes payable balance								$ 33,500
Promissory Note One [Member]
Total promissory notes payable balance	$ 0			$ 0	$ 0		$ 438,569

Deferred Revenues (Details Narr

Deferred Revenues (Details Narrative) - Trading Revenue [Member] - USD ($)	1 Months Ended
	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2023
Deferred Revenue		$ 882,000	$ 882,000
Amount received in advance	$ 882,000

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($)		6 Months Ended
	Apr. 04, 2023	Jun. 30, 2024	Dec. 31, 2023
Property and equipment payment			$ 1,653,000
Other liability		$ 1,653,000
Legal costs totaling		78,304
Damage amount		6,050,000
Initial Sale		2,200,000
Loss recovery receivable	$ 626,223
Accounts recievable from non controlling interest		3,350,260	$ 2,534,677
Klydon [Member]
Contracted cost		6,800,000
Second Phase [Member]
Contracted cost		6,000,000
Share Purchase Agreement relating to PET Labs
Property and equipment payment		2,000,000
Payble amount		264,750
Damage amount		500,000
Initial Sale		1,500,000
Accounts recievable from non controlling interest		$ 1,235,250

Lease (Details)

Lease (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
ROU Asset	$ 1,417,402	$ 1,258,701
Operating Lease Liability - Current	541,796	336,564
Operating Lease Liability - Non-Current	1,014,774	1,066,647
Total Operating Lease Liability	1,556,570	1,403,211
Office and laboratory, Pretoria, South Africa [Member]
ROU Asset	595,655	626,548
Operating Lease Liability - Current	59,746	53,504
Operating Lease Liability - Non-Current	611,220	637,348
Total Operating Lease Liability	670,966	690,852
Additional production, Pretoria, South Africa [Member]
ROU Asset	306,197
Operating Lease Liability - Current	177,221
Operating Lease Liability - Non-Current	128,976
Total Operating Lease Liability	306,197
Laboratory, Pretoria, South Africa [Member]
ROU Asset	58,177	68,089
Operating Lease Liability - Current	22,059	19,608
Operating Lease Liability - Non-Current	37,424	48,805
Total Operating Lease Liability	59,483	68,413
Office and production, Pretoria, South Africa [Member]
ROU Asset	457,373	564,064
Operating Lease Liability - Current	282,770	263,452
Operating Lease Liability - Non-Current	237,154	380,494
Total Operating Lease Liability	$ 519,924	$ 643,946

Lease (Details 1)

Lease (Details 1) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating lease liabilities arising from obtaining right-of-use assets			$ 364,458	$ 0
Finance Lease Cost [Member]
Amortization of right-of-use assets	$ 9,871	$ 0	19,312	0
Interest on lease liabilities	16,893	0	23,933	0
Operating cash flows paid for amounts included in the measurement of lease liabilities	$ 24,468	0	$ 38,846	$ 0
Weighted average remaining lease term (years)	4 years 4 months 24 days		4 years 4 months 24 days
Weighted average discount rate	12.90%		12.90%	0%
Operating Lease Cost [Member]
Operating cash flows paid for amounts included in the measurement of lease liabilities	$ 162,037	$ 21,572	$ 305,375	$ 45,520
Weighted average remaining lease term (years)	3 years 9 months 18 days	7 years 6 months	3 years 9 months 18 days	7 years 6 months
Operating lease cost	$ 167,692	$ 28,069	$ 316,592	$ 59,229
Operating lease liabilities arising from obtaining right-of-use assets	$ 0	$ 0	$ 364,458	$ 0
Weighted average discount rate	10.12%	7.50%	10.12%	7.50%

Lease (Details 2)

Lease (Details 2) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Total lease liabilities	$ 1,556,570	$ 1,403,211
Less current portion	(541,796)	(336,564)
Less current portion	(120,595)	(61,941)
Lease liability - noncurrent	1,014,774	1,066,647
Lease liability - noncurrent	562,566	$ 207,092
Operating Leases [Member]
2024 (remaining six months)	335,331
2025	676,330
2026	263,476
2027	129,538
2028	139,254
Thereafter	310,624
Total lease payments	1,854,553
Less: imputed interest	(297,983)
Total lease liabilities	1,556,570
Less current portion	(541,796)
Lease liability - noncurrent	1,014,774
Finance Leases [Member]
2024 (remaining nine months)	101,183
2025	203,143
2026	202,645
2027	195,913
2028	157,005
Thereafter	47,463
Total lease payments	907,352
Less: imputed interest	(224,191)
Total lease liabilities	683,161
Less current portion	(120,595)
Lease liability - noncurrent	$ 562,566

Lease (Details Narrative)

Lease (Details Narrative) - USD ($)	1 Months Ended				3 Months Ended		6 Months Ended
	Nov. 30, 2023	Oct. 31, 2023	Apr. 30, 2023	Oct. 31, 2021	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
ROU lease asset					$ 1,417,402		$ 1,417,402		$ 1,258,701
Short term leases						$ 36,530		$ 36,530
Operating lease, Rent expense					$ 43,205		$ 15,762
Lease 1 [Member]
Incremental borrowing rate				7.50%
Present value of the minimum rental payments				$ 952,521
Lease term				December 2030
ROU lease asset				$ 952,521
Lease 3 [Member]
Incremental borrowing rate	13.16%
Present value of the minimum rental payments	$ 70,607
Lease term	October 2026
ROU lease asset	$ 70,607
Lease 4 [Member]
Incremental borrowing rate		12.875%
Present value of the minimum rental payments		$ 677,163
Lease term		March 2026
ROU lease asset		$ 592,304
Remaining lease term		5 years
Fair value of the lease		$ 84,858
Lease 2 [Member]
Incremental borrowing rate			10.60%
Present value of the minimum rental payments			$ 364,458
Lease term			February 2026
ROU lease asset			$ 364,458

License Agreements (Details Nar

License Agreements (Details Narrative)		1 Months Ended			6 Months Ended
	Apr. 04, 2023 USD ($)	Jul. 31, 2022 USD ($)	Jul. 31, 2022 ZAR (R)	Jan. 31, 2022 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Research and development expense				$ 100,000
Accounts payable		$ 354,000			$ 2,432,857		$ 1,111,819
Royalties percentage				10%
Acquired assets			R 6,000,000		$ 3,867,903	$ 508,607
Gain on settlement for all liabilities	$ 626,223
Turnkey Contract [Member]
Research and development expense		100,000
Deferred payment		$ 300,000

Acquisitions (Details)

Acquisitions (Details)	1 Months Ended
	Oct. 31, 2023 USD ($)
Consideration
Cash	$ 500,000
Present value of balance due	1,395,348
Total Consideration	$ 1,895,348

Acquisitions (Details 1)

Acquisitions (Details 1) - USD ($)	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Oct. 31, 2023
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents				$ 378,152
Accounts receivable				460,165
Other current assets				184,457
Property and equipment				821,926
Right of use assets				592,304
Financial liabilities				(1,248,699)
Right of use liabilities				(677,163)
Total identifiable net assets				511,142
Noncontrolling interest				(1,821,021)
Goodwill	$ 3,289,163	$ 3,289,163	$ 3,267,103	3,205,227
Total Recognized amounts of identifiable assets acquired and liabilities assumed				$ 1,895,348

Acquisitions (Details 2)

Acquisitions (Details 2) - USD ($)	2 Months Ended	3 Months Ended
	Dec. 31, 2023	Mar. 31, 2024
Acquisitions
Balance as of beginning balance	$ 3,205,227	$ 3,267,103
Translation adjustment	61,876	22,060
Balance as of ending balance	$ 3,267,103	$ 3,289,163

Acquisitions (Details Narrative

Acquisitions (Details Narrative) - USD ($)	1 Months Ended			6 Months Ended
	Jun. 30, 2024	Jan. 31, 2024	Dec. 31, 2023	Jun. 30, 2024	Mar. 31, 2024	Oct. 31, 2023
Goodwill	$ 3,289,163		$ 3,267,103	$ 3,289,163	$ 3,289,163	$ 3,205,227
Onership percentage				51%
Accounts recievable	515,450		216,504	$ 515,450
Accounts recievable from non controlling interest	$ 3,350,260		$ 2,534,677	3,350,260
PET Labs Pharmaceuticals
Purchase consideration				2,000,000
Advance payment				500,000
Payble amount				$ 264,750
Percentage of issued and outstanding shares				49%
Option to purchase				$ 2,200,000
Onership percentage				51%
Description of ASP Rentals Shareholders Agreement	ASP Rentals issued 20% of the new capital to ASP South Africa for total consideration of ZAR 3,671,412 (which at the exchange rate as of June 30, 2024 was $201,994) and the remaining 80% of the new capital to one of the two original third party entities for a combined consideration of ZAR 18,357,063 (which at the exchange rate as of June 30, 2024 was $1,009,969)		ASP Rentals issued 24% of its capital stock to ASP South Africa for total consideration of ZAR 3,300,829 (which at the exchange rate as of December 31, 2023 was $180,387) and the remaining 76% of its capital stock was issued to two third party entities for combined consideration of ZAR 13,203,317 (which at the exchange rate as of December 31, 2023 was $721,548)	Pursuant to the terms of the ASP Rentals Shareholders Agreement, as of December 31, 2023 ASP South Africa was obligated to acquire and ASP Rentals was obligated to issue 24% of the common shares of ASP Rentals to be issued and outstanding for total purchase consideration of ZAR 3,300,829 (which at the exchange rate as of December 31, 2023 was $180,387)
Oblogation to shares to be issued				76%
Accounts recievable			$ 721,548
Paid amount				$ 1,235,250
Accounts recievable from non controlling interest			$ 721,548
Decsription of ASP Sale Agreement and Asset Rental Agreement		a total of ZAR 14,351,431 (which at the exchange rate as of December 31, 2023 was $784,291) was transferred between ASP Rentals and ASP South Africa per the terms of the ASP Sale Agreement and Asset Rental Agreement, excluding VAT. In June 2024, a total of ZAR 13,217,472 (which at the exchange rate as of June 30, 2024 was $727,199) was transferred between ASP Rentals and ASP South Africa and PET Labs Pharmaceuticals per the terms of the ASP Sale Agreement and Asset Rental Agreement, excluding VAT

Stockholders Equity (Details)

Stockholders Equity (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Share Liabilities Orginated In 2024
Share liability	$ 306,000	$ 0
New share liabilities	435,600
Mark to Market Adjustment	54,000
Liabilities settled	$ (183,600)
Share Liabilities Orginated In 2022
Share liability			$ 50,000	$ 140,455
New share liabilities			0
Mark to Market Adjustment			(14,885)
Liabilities settled			(75,570)
Share Liabilities Orginated In 2023
Share liability			340,800	0
New share liabilities			496,300
Mark to Market Adjustment			(155,500)
Liabilities settled			0
Share Liabilities Orginated
Share liability			390,800	$ 140,455
New share liabilities			496,300
Mark to Market Adjustment			(170,385)
Liabilities settled			$ (75,570)

Stockholders Equity (Details 1)

Stockholders Equity (Details 1)	1 Months Ended	3 Months Ended
	Apr. 30, 2024	Mar. 31, 2023
Stockholders Equity
Expected volatility	73.50%	60.30%
Weighted-average risk-free rate	4.37%	3.44%
Expected term in years	5 years 6 months	5 years 6 months
Expected dividend yield	0%	0%

Stockholders Equity (Details Na

Stockholders Equity (Details Narrative) - USD ($)	1 Months Ended										3 Months Ended			6 Months Ended		12 Months Ended
	Jul. 31, 2024	Jun. 30, 2024	Apr. 30, 2024	Jan. 31, 2024	Oct. 31, 2023	Aug. 31, 2023	May 31, 2023	Mar. 31, 2023	Feb. 28, 2023	Nov. 30, 2022	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2023
Preferred stock, Shares authorized		10,000,000									10,000,000			10,000,000			10,000,000
Preferred stock, shares issued		0									0			0			0
Preferred stock, shares outstanding		0									0			0			0
Common stock, shares authorized		500,000,000									500,000,000			500,000,000			500,000,000
Common stock, shares issued		52,132,833									52,132,833			52,132,833			48,923,276
Common stock, shares outstanding		52,132,833									52,132,833			52,132,833			48,923,276
Cash director fees														$ 240,000	$ 240,000
Issuance of common stock, value													$ 4,493,610
Fair value of share issue		$ 306,000									$ 306,000			306,000			$ 0
Proceeds from issuance of common stock														5,537,975	5,000,000
Share issuance costs														0	$ 506,390
Private Placement [Member]
Fair value of share issue		$ 90,455									$ 90,455			$ 90,455
Common stock issuable															57,250	57,250
Change in fair value of share liability															$ 14,885
Settlement of share liability by issuing share															75,570
Private Placement [Member] | Minimum [Member]
Common stock issuable																57,250
Common Stock Warrants [Member]
Issuance of common stock													3,386,076	3,164,557
Issuance of common stock, value														$ 5,537,975
Issuance of common stock determined													2,882,621
Common stock shares of warrant agreements		1,225,000									1,225,000			1,225,000
Fair value of the warrant to purchase determined		2,779,659									2,779,659			2,779,659
Fair value of common stock				$ 1.95										$ 3.90
Description of common stock warrant														The Inducement Warrant vests in October 2024 and expires in October 2029
Restricted common stock [Member]
Issuance of common stock								100,000
Issuance of common stock, value								$ 93,700
Fair value of share issuable						$ 145,000						$ 56,800			$ 56,800
Fair value of per share												$ 0.94			$ 0.94
Change in fair value of share liability												$ 28,600			$ 36,900
Restricted common stock Two [Member]
Issuance of common stock														3,000,000
Fair value of share issue												$ 2,500			$ 2,500
Cancellation of common stock received in exchange for issuance of convertible preferred stock in subsidiary, shares															3,000,000
Restricted common stock three [Member]
Issuance of common stock, value															$ 5,000,000
Issuance of cost															$ 506,390
Issuance of share								3,164,557
Purchase price of share												$ 1.58			$ 1.58
Warrants purchased															3,164,557
Exercise price per share												$ 1.75			$ 1.75		$ 1.975
Aggregate common stock												221,519			221,519
Initial fair value												$ 179,116			$ 179,116
October 2023 [Member]
Common stock, shares issued					9,952,510
Description of cash consideration					(i) 8,459,093 shares to investors at a purchase price per share of $0.9105, (ii) 1,190,239 shares to investors at a purchase price per share of $0.9548, and (iii) 303,178 shares to directors at a purchase price per share of $0.96
Aggregate cash consideration					$ 9,129,495
Share Issued to Placement agent					472,582
Additional cash issuance cost					$ 57,083
November 2022 [Member]
Issuance of common stock										50,000
Issuance of common stock, value								$ 5,000,000,000
Fair value of share issue						$ 18,125						12,500			12,500
Common stock issuable						12,500
February 2023 [Member]
Issuance of common stock									100,000					172,500
Change in fair value of share liability								$ 28,600							115,700
Fair value of share issuable						$ 145,000						56,800			56,800
February 2023 [Member] | Minimum [Member]
Fair value of per share		$ 1.55									$ 1.55			$ 1.55
February 2023 [Member] | Maximum [Member]
Fair value of per share		$ 1.90									$ 1.90			$ 1.90
July 2024 [Member]
Issuance of common stock	13,800,000
Fair value of per share	$ 2.50
deferred issuance costs		$ 45,000									$ 45,000			$ 45,000
Proceeds from issuance of common stock	$ 34,500,000
Share issuance costs	$ 2,247,500
January 2024 [Member]
Issuance of common stock				100,000
Issuance of common stock, value				$ 195,000
Fair value of share issuable		306,000									306,000			306,000
Fair value of per share				$ 1.95
Change in fair value of share liability											(107,000)			111,000
May 2023 [Member] | Restricted common stock [Member]
Issuance of common stock							100,000
Issuance of common stock, value							$ 65,100
Fair value of share issuable												56,800			56,800
Fair value of per share							$ 0.65
Change in fair value of share liability															8,300
May 2023 One [Member] | Restricted common stock [Member]
Issuance of common stock							300,000
Issuance of common stock, value							$ 165,000
Fair value of share issuable												170,400			170,400
Fair value of per share							$ 0.55
Change in fair value of share liability												$ 5,400			$ 5,400
April 2024 [Member]
Issuance of common stock			60,000
Issuance of common stock, value			$ 240,600
Fair value of share issuable		$ 183,600									$ 183,600			183,600
Fair value of per share			$ 4.01
Change in fair value of share liability														$ 57,000
June 2024 [Member]
Issuance of common stock		60,000
Issuance of common stock, value		$ 183,600
Fair value of per share		$ 3.06									$ 3.06			$ 3.06
June 2024 [Member] | Restricted common stock [Member]
Issuance of share														150,000

Stock Compensation Plan (Detail

Stock Compensation Plan (Details)	6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
Stock Compensation Plan
Number of option outstanding, beginning | shares	2,766,000
Number of options, Forfeited | $	$ (35,000)
Number of option outstanding, ending | shares	2,731,000
Number of option exercisable | shares	1,996,623
Number of option vested or expected to vest | shares	2,731,000
Weighted- Average Exercise Price per Share outstanding, beginning	$ 1.91
Weighted- Average Exercise Price per Share, Granted	0
Weighted- Average Exercise Price per Share, Forfeited	2
Weighted- Average Exercise Price per Share outstanding, ending	1.90
Weighted- Average Exercise Price per Share outstanding, Exercisable	1.88
Weighted- Average Exercise Price per Share outstanding, Vested or expected to vest	$ 1.90
Weighted Average Remaining Contractual Term (in Years), beginning	8 years 4 months 24 days
Weighted Average Remaining Contractual Term (in Years),ending	7 years 10 months 24 days
Weighted Average Remaining Contractual Term (in Years), Exercisable	7 years 10 months 24 days
Weighted Average Remaining Contractual Term (in Years), Vested or expected to vest	7 years 10 months 24 days
Aggregate instrict value outstanding, beginning | $	$ 231,000
Aggregate instrict value outstanding, ending | $	3,157,360
Aggregate instrict value outstanding, Exercisable | $	2,356,120
Aggregate instrict value outstanding, Vested or expected to vest | $	$ 3,157,360

Stock Compensation Plan (Deta_2

Stock Compensation Plan (Details 1)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Stock Compensation Plan
Number of Shares, Unvested at Beginning Balance | shares	4,489,186
Number of Shares, Granted | shares	250,000
Number of Shares, Vested | shares	(1,864,186)
Number of Shares, Forfeited and retired | shares	(325,000)
Number of Shares, Unvested at Ending Balance | shares	2,550,000
Weighted Average Grant Date Fair Value Per Share, Unvested at Beginning Balance | $ / shares	$ 1.42
Weighted Average Grant Date Fair Value Per Share, Granted | $ / shares	3.54
Weighted Average Grant Date Fair Value Per Share, Vested | $ / shares	0.54
Weighted Average Grant Date Fair Value Per Share, Forfeited and retired | $ / shares	1.19
Weighted Average Grant Date Fair Value Per Share, Unvested at Ending Balance | $ / shares	$ 2.45

Stock Compensation Plan (Deta_3

Stock Compensation Plan (Details 2) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Stock based compensation expense	$ 2,518,016	$ 2,374,686	$ 4,231,670	$ 4,518,785
Selling, general and administrative[Member]
Stock based compensation expense	2,436,295	2,281,277	4,066,886	4,332,985
Research and development [Member]
Stock based compensation expense	$ 81,721	$ 93,409	$ 164,784	$ 185,800

Stock Compensation Plan (Deta_4

Stock Compensation Plan (Details Narrative) - USD ($)	1 Months Ended									3 Months Ended		6 Months Ended
	Mar. 31, 2024	Jan. 31, 2024	Oct. 31, 2023	Aug. 31, 2023	Mar. 31, 2023	Dec. 31, 2022	Nov. 30, 2022	Jul. 31, 2022	Oct. 31, 2021	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Number of shares issued							5,000,000		6,000,000
Stock option granted	978,466						100,000
Stock based comensation										$ 2,518,016	$ 2,374,686	$ 4,231,670	$ 4,518,785
Board member
Share issued during period for service		$ 100,000	$ 100,000
Stock based comensation		$ 100,000	$ 100,000
Stock Awards [Member]
Stock option granted				225,000			3,000,000	100,000
Stock based comensation										2,323,171	2,164,912	3,840,639	3,952,800
Weighted average fair value							$ 2.63	$ 2
Unrecognized compensation cost										6,996,549		6,996,549
Total value							$ 7,890,000	$ 200,000
Stock Awards [Member] | One employee [Member]
Stock option granted				300,000
Weighted average fair value				$ 0.55
Total value				$ 409,000
Stock Options [Member]
Stock based comensation										194,845	$ 209,774	391,032	$ 565,985
Unrecognized compensation cost										858,347		$ 858,347
Weighted average period term												10 months 24 days
Chief Executive Officer [Member]
Stock option granted	100,000
Chief Executive Officer [Member] | Stock Awards [Member]
Stock option granted					1,256,750	1,550,000			1,500,000
Stock based comensation										375,000
Weighted average fair value					$ 1.80	$ 1.58			$ 0.25
Total value					$ 2,262,150	$ 2,449,000			$ 375,000
Board of Directors [Member] | Stock Awards [Member]
Stock option granted				200,000				600,000	600,000
Weighted average fair value				$ 1.22				$ 2	$ 0.25
Total value								$ 1,200,000	$ 150,000
June 2024 [Member] | Restricted common stock [Member]
Common stock shares issued												150,000
Weighted average fair value												$ 3.15
Total value										$ 472,500		$ 472,500
Equity Incentive Plan 2024 [Member]
Shares available for future grant										2,500,000		2,500,000
Shares reserved for issuance										2,500,000		2,500,000
Equity Incentive Plan [Member]
Shares available for future grant		2,446,164								2,309,770		2,309,770

Net Loss Per Share (Details)

Net Loss Per Share (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net loss before deemed dividend	$ (8,932,925)	$ (4,286,346)	$ (15,881,010)	$ (7,901,424)
Deemed dividend on warrant to purchase common stock	(2,779,659)	0	(2,779,659)	0
Net loss	$ (11,712,584)	$ (4,286,346)	$ (18,660,669)	$ (7,901,424)
Denominator:
Weighted average common stock outstanding, basic and diluted	49,136,009	29,796,065	46,848,926	29,535,060
Net loss per share, basic and diluted	$ (0.24)	$ (0.14)	$ (0.40)	$ (0.27)

Net Loss Per Share (Details 1)

Net Loss Per Share (Details 1) - shares	Jun. 30, 2024	Jun. 30, 2023
Net Loss Per Share
Options to purchase common stock	2,731,000	2,851,000
Warrants to purchase Common Stock	1,446,519	3,386,076
Unvested restricted stock	2,550,000	6,867,562
Total shares of common stock equivalents	6,727,519	13,104,638

Income Taxes (Details Narrative

Income Taxes (Details Narrative)	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Income Taxes
Effective tax rate	0.10%	0.20%