Business Development and Expansion - The company plans to deploy its first Aurora powerhouse by 2027, targeting a capacity of over 2,100 MWe, which represents nearly a 200% increase since the business combination announcement in July 2023[144]. - The company has secured a site use permit from the U.S. Department of Energy for the Idaho National Laboratory and received a fuel award for a commercial Aurora powerhouse[143]. - The company estimates that there is enough energy in the form of nuclear waste globally to meet the projected U.S. demand for electricity for 100 years with fast fission power plants[142]. - The company has entered into a term sheet for a proposed 25millionall−stockacquisitionofAtomicAlchemy,aimedatenhancingitscapabilitiesinisotopeproduction[155].−Thecompanyhassignednon−bindinglettersofintentforover2,100MWeofenergy,indicatingstrongmarketinterestinitssolutions[153].−Thecompanyisactivelydevelopingnuclearfuelrecyclingcapabilities,withplanstodeployacommercial−scalefacilityintheU.S.bythe2030s[154].−Thecompanyhascompletedthefirstend−to−enddemonstrationofitsadvancedfuelrecyclingprocess,markingsignificantprogressinscalingupitscapabilities[146].−Thecompanyplanstofocusonsmall−scalepowerhouses(15MWe,50MWe,andexploring100+MWedesigns)tomanagelifecycleregulatoryandoperatingcostseffectively[162].−Thecompanycontinuestonegotiatepowerpurchaseagreementswithmultiplepotentialcustomerstoexpanditsoperations[167].FinancialPerformance−Thecompanyreceivednetproceedsof260,859,623 from its business combination, which was completed on May 9, 2024[157]. - Total operating expenses for the nine months ended September 30, 2024, were 37,422,453,withanexpectedrangeof40,000,000 to 50,000,000for2024[169].−Researchanddevelopmentexpensesincreasedby3,341,613, or 195.7%, for the three months ended September 30, 2024, compared to the same period in 2023[192]. - General and administrative expenses rose by 4,275,680,or144.624,920,638, compared to 10,373,637forthesameperiodin2023[183].−CashandcashequivalentsasofSeptember30,2024,were91,799,754, up from 10,009,921attheendofSeptember2023[183].−Thecompanyreportedanetlossof63,327,233 for the nine months ended September 30, 2024, compared to a net loss of 17,851,758forthesameperiodin2023[178].−Thecompanyhadaccumulateddeficitsof124,820,677 as of September 30, 2024[178]. - Net cash provided by financing activities for the nine months ended September 30, 2024, was 300,824,041,comparedto10,790,117 for the same period in 2023[183]. - The company expects significant ongoing operating expenditures to successfully implement its business plan and develop its powerhouses[178]. Expense Analysis - General and administrative expenses increased by 12,097,716,or205.213,971,678, or 256.0%, for the nine months ended September 30, 2024, compared to the same period in 2023[198]. - Total operating expenses for the nine months ended September 30, 2024, were 37,422,453,anincreaseof26,069,394, or 229.6%, compared to the same period in 2023[197]. - Interest and dividend income increased by 4,324,462fortheninemonthsendedSeptember30,2024,comparedtothesameperiodin2023[203].−ThechangeinfairvalueofSAFEsresultedinalossof29,919,959 for the nine months ended September 30, 2024, compared to a loss of 6,578,000inthesameperiodin2023[207].−TotalotherlossfortheninemonthsendedSeptember30,2024,was25,516,196, an increase of 19,017,497,or292.63,414,098, primarily due to modifications related to Legacy Oklo's awards[201]. - Payroll and employee benefits for research and development personnel increased by 4,226,531,attributedtoa74.65,192,522, primarily due to legal and accounting fees[201]. - Travel, entertainment, and other expenses in general and administrative functions increased by $1,468,346, reflecting a significant rise in operational activities[201]. Accounting and Compliance - The company is classified as an emerging growth company (EGC) and may retain this status until December 31, 2026, unless certain market conditions are met[214]. - The JOBS Act allows EGCs to be exempt from new or revised financial accounting standards until private companies are required to comply, with the option to opt out being irrevocable[215]. - There has been no adoption of any new or recently issued accounting pronouncements as of the date of the report[216]. - The company recorded incremental costs related to the modification of Legacy Oklo's awards, based on the fair value of the Earnout Shares determined by an independent third-party valuation using a Monte Carlo simulation[211]. - Legacy Oklo SAFEs are recorded at fair value, classified as a Level 3 measurement, with significant inputs not observable in the market, affecting the valuation process[212]. - The fair value determination of SAFEs involves substantial judgment, and alternative assumptions could lead to different fair value conclusions, impacting potential losses or expenses[213].
