NASDAQ: NUCL
Eagle Nuclear Energy Corp.CIK 0002089283 · SIC 1090 · Miscellaneous Metal Ores
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Eagle Nuclear Energy engages CBIZ CPAs as independent auditor for fiscal 2026
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Eagle Nuclear Energy auditor resigns after flagging going-concern doubt and material weakness
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Eagle Nuclear completes de-SPAC, acquires Oregon Energy, and lists on Nasdaq as NUCL
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Latest financial statements
From 10-Q filed Jul 20, 2026 (period ending May 31, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Statements of Operations (Unaudited)
| Description | Three months ended May 31, 2026 | Three months ended May 31, 2025 | Six months ended May 31, 2026 | Six months ended May 31, 2025 |
|---|---|---|---|---|
| Operating expenses | ||||
| Business development | 267,827 | — | 348,277 | — |
| Amortization and depreciation | 5,602 | — | 8,026 | — |
| Exploration expense | 496,419 | 56,678 | 723,920 | 63,983 |
| Office and administrative | 831,489 | 60,539 | 1,238,685 | 91,580 |
| Professional fees | 2,010,841 | 710,540 | 2,469,761 | 1,213,453 |
| Rent expense | 80,856 | 22,483 | 153,598 | 48,943 |
| Investor relations | 69,390 | — | 159,211 | — |
| Salaries and wages | 3,295,905 | — | 3,353,846 | — |
| Licensing fee expense | 12,603 | — | 26,249 | — |
| Travel and entertainment | 236,509 | 170,706 | 287,971 | 269,552 |
| Total operating expenses | (7,307,441) | (1,020,946) | (8,769,544) | (1,687,511) |
| Other income (expense) | ||||
| Change in fair value of warrant liability | (17,750,724) | — | (17,750,724) | — |
| Interest income | 31 | — | 31 | — |
| Loss on foreign currency transactions | (3,813) | (4,160) | (13,592) | (4,590) |
| Total other expense | (17,754,506) | (4,160) | (17,764,285) | (4,590) |
| Net loss | (25,061,947) | (1,025,106) | (26,533,829) | (1,692,101) |
| Preferred stock dividends | (748,603) | — | (781,151) | — |
| Net loss attributable to common stockholders | (25,810,550) | (1,025,106) | (27,314,980) | (1,692,101) |
| Weighted average number of shares outstanding, common stock Basic and diluted(1) | 29,657,841 | 17,717,143 | 24,567,206 | 17,252,802 |
| Loss per share, common stock Basic and diluted(1) | (0.87) | (0.06) | (1.11) | (0.10) |
Balance Sheets
| Description | May 31, 2026 (Unaudited) | November 30, 2025 (Audited) |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash | 28,091,090 | 1,301,928 |
| Prepaid expenses | 898,822 | 162,897 |
| Total current assets | 28,989,912 | 1,464,825 |
| Restricted cash | 190,960 | — |
| Deposits | 71,506 | 71,506 |
| Property, plant and equipment | 283,877 | — |
| Intangible asset, net | 96,450 | 65,915 |
| Mineral rights | 12,755,725 | 1,201,390 |
| Right of use asset operating lease, net | 701,311 | 84,326 |
| Total assets | 43,089,741 | 2,887,962 |
| Liabilities, Mezzanine Equity, and Stockholders’ Equity (Deficit) | ||
| Current liabilities | ||
| Accounts payable and accrued liabilities | 783,866 | 530,339 |
| Due to related parties | 120,130 | 280,025 |
| Dividends payable | 781,151 | — |
| Lease liabilities current | 140,075 | 33,155 |
| Total current liabilities | 1,825,222 | 843,519 |
| Warrant liability | 21,925,000 | — |
| Lease liabilities non-current | 589,935 | 55,086 |
| Total liabilities | 24,340,157 | 898,605 |
| Commitments and contingencies (Note 16) | ||
| Mezzanine equity | ||
| Redeemable common stock, $0.0001 par value, 300,000,000 shares authorized; none issued and outstanding as of May 31, 2026 ($0.0001 par value, 350,000,000 shares authorized; 2,750,000 issued and subject to possible redemption at $0.11 per share as of November 30, 2025)(1) | — | 300,000 |
| Series A Cumulative Preferred Stock, redeemable, $0.0001 par value, 3,500,000 shares authorized; 29,700 shares issued and subject to possible redemption beginning February 24, 2031 at $1,000 per share plus accrued and unpaid dividends, as of May 31, 2026 ($0.0001 par value, 50,000,000 shares authorized; none as of November 30, 2025) | 25,729,800 | — |
| Stockholders’ equity (deficit) | ||
| Common stock, $0.0001 par value, 300,000,000 shares authorized; 29,579,798 shares issued and outstanding as of May 31, 2026 ($0.0001 par value, 350,000,000 shares authorized; 18,888,289 shares, excluding 2,750,000 shares subject to possible redemption as of November 30, 2025)(1) | 2,958 | 1,889 |
| Preferred stock, $0.0001 par value, 3,500,000 shares authorized; none issued and outstanding, excluding 29,700 shares subject to possible redemption as of May 31, 2026 ($0.0001 par value, 50,000,000 shares authorized; none as of November 30, 2025) | — | — |
| Additional paid-in capital(1) | 26,612,495 | 7,968,157 |
| Accumulated deficit | (33,595,669) | (6,280,689) |
| Total stockholders’ equity (deficit) | (6,980,216) | 1,689,357 |
| Total liabilities, mezzanine equity and stockholders’ equity (deficit) | 43,089,741 | 2,887,962 |
Statements of Cash Flows (Unaudited)
| Description | Six months ended May 31, 2026 | Six months ended May 31, 2025 |
|---|---|---|
| Net loss attributable to common stockholders | (27,314,980) | (1,692,101) |
| Adjustments to reconcile net loss attributable to common stockholders to net cash used in operating activities: | ||
| Amortization and depreciation | 8,026 | — |
| Change in fair value of warrant liability | 17,750,724 | — |
| Loss on foreign currency transactions | 13,592 | — |
| Non-cash lease adjustment | 23,648 | — |
| Non-cash consulting fees | — | 17,874 |
| Preferred stock dividends | 781,151 | — |
| Stock based compensation | 4,596,172 | — |
| Changes in operating assets and liabilities: | ||
| Accounts payable and accrued liabilities | 171,677 | 50,911 |
| Prepaid expenses | (581,992) | (119,939) |
| Due to related parties | (159,895) | (200,998) |
| Net cash used in operating activities | (4,711,877) | (1,944,253) |
| Cash flows from investing activities | ||
| Purchase of property, plant and equipment | (47,967) | — |
| Purchase of intangible assets | (11,925) | — |
| Investment in mineral rights | (18,155) | (600,000) |
| Cash assumed on acquisition of Oregon Energy LLC | 141,262 | — |
| Net cash provided by (used in) investing activities | 63,215 | (600,000) |
| Cash flows from financing activities | ||
| Proceeds from the issuance of common stock, net of issuance costs | — | 7,438,301 |
| Proceeds from exercise of warrants | 2,300 | — |
| Proceeds from PIPE financing | 29,700,000 | — |
| Cash assumed on reverse recapitalization | 1,939,457 | — |
| Net cash provided by financing activities | 31,641,757 | 7,438,301 |
| Effects of foreign exchange on cash | (12,973) | — |
| Increase in cash | 26,980,122 | 4,894,048 |
| Cash and restricted cash, beginning of period | 1,301,928 | 717 |
| Cash and restricted cash, end of period | 28,282,050 | 4,894,765 |
| Presented as: | ||
| Cash | 28,091,090 | 4,894,765 |
| Restricted cash | 190,960 | — |
| Cash and restricted cash, end of period | 28,282,050 | 4,894,765 |
| Supplemental disclosure of non-cash information | ||
| Share issuance costs in accounts payable | — | 14,540 |
| Share issuance costs settled in shares | 2,097,000 | 348,194 |
| Share issuance for acquisition of Oregon Energy LLC | 11,959,827 | — |
| Conversion of redeemable common stock into nonredeemable common stock | 300,000 | — |
| Reverse recapitalization | 1,991,184 | — |
| Accretion of mezzanine equity | 204,076 | — |
| Additions to intangible assets in accounts payable | 20,534 | — |
| Prepaid expenses paid by issuance of shares | — | 122,000 |
| Consultant bonus settled by issuance of bonus shares | — | 183,200 |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗