PESI — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-12

• ● commence treatment of Hanford-related waste received in the second quarter of 2026 in the third quarter of 2026 ;

• ● the issuance, number, size and timing of task orders to be issued to the Company under the Company’s Master Subcontract award;

• ● the effect of recent stabilize Services Segment contract recent awards on the segment’s revenue base;

• ● delays in anticipated treatment waste volumes and project activity;

• ● lower margin previously stored waste inventories substantially processed and not expected to have a material effect to operating results in the next twelve months;

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• ● advancement of our Perma-FAS technology to support long-term growth;

• ● waste receipt related to DFLAW program in the second quarter of 2026;

• ● expects to either enter into a new loan agreement or amend our existing PNC Loan Agreement with our lender;

• ● improvement in operating margin from absorption of fixed costs with waste volume increase;

• ● pursue additional sources of liquidity, include raising capital through equity or other financing arrangements or disposing of certain assets;

Text added vs the prior filing · source: 10-Q · 2026-08-12

• On June 26, 2026, Edwin Monroy filed a putative class action complaint in the Superior Court of the State of Washington for Benton County against Perma-Fix Northwest Richland, Inc., Perma-Fix Environmental Services, Inc., Perma-Fix Northwest, Inc., and other, unnamed, defendants. The complaint purpo…

• The Company believes the claims are without merit and intends to defend the action vigorously. The action is in its preliminary stages, no class has been certified, and the allegations have not been proven. The Company has not accrued any amount with respect to this matter because a loss is not cons…

Text added vs the prior filing · source: 10-Q · 2026-08-12

• We have sustained losses during 2024, 2025, and the first six months of 2026.

• The Company sustained significant losses during 2024, 2025, and the first six months of 2026. We believe that our results of operations should improve starting in the second half of 2026. If, however, we fail to become profitable on an annualized basis in the foreseeable future, this could have a ma…

• Our recurring losses and negative operating cash flows have raised substantial doubt about our ability to continue as a going concern, and our expected improvement depends substantially on government-directed waste shipments and project activity that are outside our control.

• As described in Note 1 to our unaudited condensed consolidated financial statements, our recurring operating losses and negative cash flows from continuing operations have raised substantial doubt about our ability to continue as a going concern within one year after the date those financial stateme…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• We have incurred recurring losses and negative operating cash flows, which have reduced our liquidity and raise substantial doubt about our ability to continue as a going concern.

• Our Liquidity (defined under our PNC Loan Agreement as borrowing availability under the Revolving Credit facility plus cash in our MMDA maintained with our lender) declined from $18,126,000 at December 31, 2025 to $10,720,000 at March 31, 2026, driven by ongoing operating losses, investments in PFAS…

Text added vs the prior filing · source: 10-Q · 2026-08-12

• On August 10, 2026, subsequent to the end of the fiscal quarter ended June 30, 2026, and within four business days prior to the filing of this Quarterly Report on Form 10-Q, the Company and certain of its subsidiaries entered into an amendment to the PNC Loan Agreement. The amendment, among other th…

• On August 10, 2026, subsequent to the end of the fiscal quarter ended June 30, 2026, and within four business days prior to the filing of this Quarterly Report on Form 10-Q, the Company was awarded a Master IDIQ Subcontract by Hanford Tank Waste Operations & Closure, LLC (“H2C”) for the treatment an…

• In accordance with Exchange Act Form 8-K Compliance and Disclosure Interpretation (“CDI”) 101.01, the Company is disclosing the above information in this Quarterly Report on Form 10-Q in lieu of filing a separate Current Report on Form 8-K.

• The foregoing description of the amendment to the PNC Loan Agreement under “Credit Facility” does not purport to be complete and is qualified in its entirety by reference to the amendment, which is filed as Exhibits 4.1 and 10.6 to this Form 10-Q and incorporated herein by reference.

• The information set forth above under “Credit Facility” is being provided pursuant to Items 1.01 and 2.03 of Form 8-K and the information set forth above under “Contract Award” is being provided pursuant to Item 1.01 of Form 8-K.

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• On May 1, 2026, subsequent to the end of the fiscal quarter ended March 31, 2026, and within four business days prior to the filing of this Quarterly Report on Form 10-Q, the Company entered into executive employment agreements with certain of its executive officers. These agreements provide for, am…

• On May 1, 2026, the Compensation Committee and the Board approved, and the Company entered into employment agreements, which became effective May 1, 2026, with each of the Company’s executive officers (each, an “Executive” and, collectively, the “Executives”): Mark Duff, President and CEO; Ben Nacca…

• The New Employment Agreements are substantially identical, except for compensation amounts and certain post-termination covenants. Pursuant to the New Employment Agreements, each of the Executives is provided an annual salary, which annual salary may be increased from time to time, but not reduced, …

• Each of the New Employment Agreements is effective for three years from May 1, 2026 through April 30, 2029, unless earlier terminated by the Company or the Executive under the circumstances described in the New Employment Agreements and discussed below.

• Pursuant to the New Employment Agreements, if the Executive’s employment is terminated due to death or disability (as defined in the New Employment Agreements), the Company will pay to the Executive or to his estate an amount equal to (a) the sum of any accrued and unpaid base salary, reimbursement …