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International Isotopes Inc. Announces 2012 Year End Financial Results
Date:3/28/2013

de-conversion facility.

Net LossNet Loss was $2,240,810 in 2012, compared to a Net Loss of $5,950,438 in 2011.  The decrease in net loss of $3,709,628, or approximately 62%, was the result of the decrease in research and development expense related to the proposed de-conversion facility, the decrease in operating expense, and the decrease in interest expense recorded during 2012 as compared to 2011.

Steve Laflin , President and CEO said, "2012 was a challenging and disappointing year.  Our core business encountered many production and distribution obstacles; yet, we did make significant progress on our long-term business objective to advance our 'green', patented, uranium de-conversion project.  During 2012 we received our Part 40 combined construction and operating license for our planned depleted uranium de-conversion and fluorine extraction processing facility from the Nuclear Regulatory Commission (NRC).  It is important for our shareholders to note that there are no other companies with a similar license, or even an application for such a license under review by the NRC.  Therefore, the NRC license represents a significant competitive barrier and we believe it also provides us with a very valuable asset and a very real and solid growth opportunity.

"While our progress on this project in 2012 was significant, a substantial amount of work and additional capital will be required in order to complete this facility.  The total estimated cost for the project is still estimated to be approximately $125 million.  During 2012, we were able to raise approximately $3 million through the sale of convertible debentures and we spent approximately $1.5 million on the project.  During 2013, we intend to control the rate of capital expenditure on the project until project financing has been secured. There is no assurance that adequate financing for the project will be secured on
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SOURCE International Isotopes Inc
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