v3.26.1
PROPERTY, PLANT AND EQUIPMENT
 9 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT

6. PROPERTY, PLANT AND EQUIPMENT

 

   June 30,
2026		   September 30,
2025		 
   Land, buildings
and leasehold
improvements		   Land, buildings
and leasehold
improvements		 
Cost          
Beginning of period  $10,149,332   $1,700,000 
Additions – land   892,587    330,000 
Additions – building   4,728,236    4,000,234 
Additions – leasehold improvements   -    3,103,000 
Additions – construction in progress   4,206,686    1,016,098 
Assets acquired in business acquisition   85,015    - 
End of period   20,061,856    10,149,332 
           
Accumulated depreciation          
Beginning of period   (365,555)   (10,393)
Depreciation of building   (307,788)   (133,975)
Depreciation of leasehold improvements   (410,775)   (221,187)
Depreciation of assets acquired in business combination   (2,437)   - 
End of period   (1,086,555)   (365,555)
           
Total property, plant and equipment, net  $18,975,301   $9,783,777 

 

In August 2024, the Company purchased a 1.64-acre land package in the historic Heritage Center Industrial Park in Oak Ridge, Tennessee, for $1.7 million. The purchase included a 14,000 sq. ft., 2-story building to house the Company’s Nuclear Technology Branch. Depreciation was $90,408 and $65,095 for the nine months ended June 30, 2026 and 2025, respectively.

 

In July 2025, the Company purchased a 2.75-acre land package in Oak Brook, Illinois, for $3.5 million. The purchase included a 23,537 sq. ft. building to serve as a regional demonstration and office facility to support the development of the Company’s KRONOS MMR™ Microreactor Energy System. Depreciation was $118,875 and $nil for the nine months ended June 30, 2026 and 2025, respectively.

 

In January 2026, the Company acquired a commercial property covering 11,430 sq. ft. in Manhattan, New York, for $5.6 million to serve as additional office space. The purchase price was allocated between the depreciable office space and the associated non-depreciable fractional interest in the land. Depreciation expense for the property was $98,505 and $0 for the nine months ended June 30, 2026 and 2025, respectively.

 

In May 2026, the Company completed the acquisition of STS (Note 8). The acquired assets included property and equipment with an acquisition-date fair value of $85,015, consisting of leasehold improvements of $41,302, equipment of $19,884, furniture and fixtures of $17,865 and computer equipment of $5,964. These assets were recorded at their acquisition-date fair values with no carryover of the acquiree’s accumulated depreciation. Depreciation was $2,437 and $nil for the nine months ended June 30, 2026 and 2025, respectively, reflecting depreciation from May 22, 2026 (the STS Acquisition Date) through June 30, 2026.