PERMA FIX ENVIRONMENTAL SERVICES INC
For the period ended Dec 31, 2023. Filed Mar 13, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 13, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Special Note Regarding Forward-Looking Statements
Forward-looking Statements
Certain statements contained within this report may be deemed “forward-looking statements” within the meaning of the “Private Securities Litigation Reform Act of 1995”. All statements in this report other than a statement of historical fact are forward-looking statements that are subject to known and unknown risks, uncertainties and other factors, which could cause actual results and performance of the Company to differ materially from such statements. The words “believe,” “expect,” “anticipate,” “intend,” “will,” and similar expressions identify forward-looking statements. Forward-looking statements contained herein relate to, among other things,
| ● | demand for our services; |
|---|---|
| ● | partial U.S. government shutdown or additional continued resolution; |
| ● | delay waste shipment by government related customers; |
| ● | reductions in the level of government funding in future years; |
| ● | reducing operating costs and non-essential expenditures; |
| ● | ability to meet loan agreement quarterly covenant requirements; |
| ● | cash flow requirements; |
| ● | receipt of remaining Canadian receivable upon completion of conditions/terms of the settlement agreement in 2024; |
| ● | sufficient liquidity to fund operations for the next twelve months; |
| ● | revenue under the Italian project; |
| ● | future results of operations and liquidity; |
| ● | effect of macroeconomic concerns, such as inflation and higher interest rates, on our business; |
|---|---|
| ● | manner in which the applicable government will be required to spend funding to remediate various sites; |
| ● | finalization of non-binding partnership agreement with Springfields Fuels Limited; |
| ● | successful on international bids; |
| ● | continued increases in operating costs; |
| ● | funding of capital expenditures from cash from operations, collections of unpaid receivables, borrowing availability under our credit facility and/or financing; |
| ● | steady improvement in waste shipments and work under projects in 2024; |
| ● | funding of remediation expenditures for sites from funds generated internally; |
| ● | compliance with environmental regulations; |
| ● | potential effect of being a PRP; |
| ● | potential violations of environmental laws and attendant remediation at our facilities; and |
| ● | our ability to effect increases in the prices of the services we offer. |
While the Company believes the expectations reflected in such forward-looking statements are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this report, including, but not limited to:
| ● | general economic conditions; |
|---|---|
| ● | contract bids, including international markets; |
| ● | material reduction in revenues; |
| ● | inability to meet PNC covenant requirements; |
| ● | inability to collect in a timely manner a material amount of receivables; |
| ● | increased competitive pressures; |
| ● | inability to maintain and obtain required permits and approvals to conduct operations; |
| ● | inability to develop new and existing technologies in the conduct of operations; |
| ● | inability to maintain and obtain closure and operating insurance requirements; |
| ● | inability to retain or renew certain required permits; |
| ● | discovery of additional contamination or expanded contamination at any of the sites or facilities leased or owned by us or our subsidiaries which would result in a material increase in remediation expenditures; |
| ● | delays at our third-party disposal site can extend collection of our receivables greater than twelve months; |
| ● | refusal of third-party disposal sites to accept our waste; |
| ● | changes in federal, state and local laws and regulations, especially environmental laws and regulations, or in interpretation of such; |
| ● | requirements to obtain permits for TSD activities or licensing requirements to handle low level radioactive materials are limited or lessened; |
| ● | management retention and development; |
| ● | financial valuation of intangible assets is substantially more/less than expected; |
| ● | the need to use internally generated funds for purposes not presently anticipated; |
| ● | inability of the Company to maintain the listing of its Common Stock on the NASDAQ; |
| ● | terminations of contracts with government agencies or subcontracts involving government agencies or reduction in amount of waste delivered to the Company under the contracts or subcontracts; |
| ● | failure of joint venture partner to perform its requirements in connection with the Italian project; |
| ● | failure to approve 2024 budget by the U.S. government; |
| ● | partial government shutdown; |
| ● | Changes in the scope of work relating to existing contracts; |
| ● | occurrence of an event similar to COVID-19 having adverse effects on the U.S. and world economics; |
| ● | renegotiation of contracts involving government agencies; |
| ● | disposal expense accrual could prove to be inadequate in the event the waste requires re-treatment; |
| ● | inability to raise capital on commercially reasonable terms; |
| ● | inability to increase profitable revenue; |
| ● | economic uncertainties; |
| ● | new governmental regulations; and |
| ● | risk factors contained in Item 1A of this report. |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.