DBHL on OTC
Deep Isolation Nuclear, Inc.
American refuse systems company that raised $33 million in 2025 (SEC Form D). Summary from the record
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Last updated Oct 19, 2026.
Overview
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- TickerDBHL on OTC1
- IndustryRefuse Systems1
- HeadquartersPiano, Texas1
- Incorporated inDE2
- Business address5717 Legacy Drive, Suite 250, Office 2079, Piano, Tx 750242
- Filer category, Emerging growth company2
- Legal formCorporation
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Deep Isolation Nuclear, Inc.’s (“Deep Isolation” or the “Company”) mission is to revolutionize the disposal of nuclear waste through the development of innovative solutions for temporary storage and transportation of high-level waste (“HLW”), including spent nuclear fuel (“SNF”), and for permanent disposal of HLW via deep underground boreholes. The world’s current nuclear waste management model is limited to two options: above-ground interim storage and geologic disposal via mined repositories. Both options are extremely costly and, to date, neither has presented a viable, long-term solution to the global nuclear waste disposal problem. There are currently no operational mined repository facilities for the disposal of HLW or SNF; above-ground interim storage, which does not provide a permanent disposal solution, currently is the only waste management solution for HLW and SNF being practi…3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Freestone brought in 59% of the revenue Deep Isolation Nuclear, Inc. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2024 | 2025 |
|---|---|---|
| Freestone | $4.2M | $3.6M |
| Deep Isolation USEMEA | $2.9M | $2.5M |
Regions
United States brought in 99% of the revenue Deep Isolation Nuclear, Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2024 | 2025 |
|---|---|---|
| United States | $6.6M | $6.1M |
| EMEA | $498.0K | $78.0K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development4¢$404.0K
- Selling, general and admin96¢$8.8M
- Income tax0¢$1.0K
Out of $6.1M in revenue.4 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenue | $6.1M | $7.1M |
| Cost of services (exclusive of depreciation shown separately below) | -$2.6M | -$3.7M |
| Gross profit | $3.5M | $3.4M |
| Selling, general and administrative expenses | $8.8M | $4.1M |
| Research and development | $404.0K | $202.0K |
| Depreciation and amortization expense | $115.0K | $110.0K |
| Total operating expenses | $9.3M | $4.5M |
| Loss from operations | -$5.8M | -$1.1M |
| Other income, net | $435.0K | $73.0K |
| Net loss before income taxes | -$5.3M | -$993.0K |
| Provision for income taxes | -$1.0K | -$1.0K |
| Net loss | -$5.3M | -$994.0K |
| Foreign currency translation adjustments | $115.0K | -$18.0K |
| Total other comprehensive loss (income) | $115.0K | -$18.0K |
| Net loss and other comprehensive loss | -$5.2M | -$1.0M |
| Net income (loss) per common share basic (in Dollars per share) | -$0.11 | -$0.02 |
| Net income (loss) per common share diluted (in Dollars per share) | -$0.11 | -$0.02 |
| Weighted average common shares outstanding - basic (in shares) | 48.7M shares | 39.8M shares |
| Weighted average common shares outstanding - diluted (in shares) | 48.7M shares | 39.8M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2025-07-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash | $27.4M | $2.1M | ||
| Accounts receivable, net of allowance for credit losses of $118 and $128, respectively | $439.0K | $999.0K | ||
| Contract assets | $275.0K | $111.0K | ||
| Other current assets | $672.0K | $80.0K | ||
| Total current assets | $28.8M | $3.3M | ||
| Property, plant and equipment, net | $128.0K | $55.0K | ||
| Intangible assets, net | $73.0K | $153.0K | ||
| Finance lease right-of-use assets | $11.0K | $14.0K | ||
| Operating lease right-of-use assets | $269.0K | $387.0K | ||
| Goodwill | $182.0K | $182.0K | ||
| Other non-current assets | $140.0K | $0 | ||
| Total assets | $29.6M | $4.1M | ||
| Accounts payable | $1.1M | $174.0K | ||
| Accrued payroll | $774.0K | $519.0K | ||
| Contract liabilities | $150.0K | $0 | ||
| Finance lease liabilities, current | $3.0K | $3.0K | ||
| Operating lease liabilities, current | $125.0K | $116.0K | ||
| Other current liabilities | $101.0K | $112.0K | ||
| Total current liabilities | $2.3M | $924.0K | ||
| Finance lease liabilities, net of current portion | $9.0K | $12.0K | ||
| Operating lease liabilities, net of current portion | $152.0K | $277.0K | ||
| Total liabilities | $2.4M | $1.2M | ||
| Common stock, par value $0.0001 per share, 300,000,000 and 55,550,158 shares authorized; 57,542,113 and 19,996,529 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $6.0K | $4.0K | ||
| Additional paid-in capital | $59.5M | $30.0M | ||
| Accumulated deficit | -$32.5M | -$27.2M | ||
| Accumulated other comprehensive income | $237.0K | $122.0K | ||
| Total stockholders equity | $27.2M | $2.9M | $3.2M | |
| Allowance | $118.0K | $128.0K | ||
| Preferred stock, par value (in Dollars per share) | $0.00 | |||
| Preferred stock, shares authorized (in shares) | 10.0M shares | |||
| Common stock, par value (in Dollars per share) | $0.00 | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 300.0M shares | 300.0M shares | 55.6M shares | |
| Common stock, shares issued (in shares) | 57.5M shares | 57.5M shares | 39.9M shares | |
| Common stock, shares outstanding (in shares) | 57.5M shares | 57.5M shares | 39.9M shares |
| Period ending | 2025-12-31 | 2025-07-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash | $27.4M | $2.1M | ||
| Accounts receivable, net of allowance for credit losses of $118 and $128, respectively | $439.0K | $999.0K | ||
| Contract assets | $275.0K | $111.0K | ||
| Other current assets | $672.0K | $80.0K | ||
| Total current assets | $28.8M | $3.3M | ||
| Property, plant and equipment, net | $128.0K | $55.0K | ||
| Intangible assets, net | $73.0K | $153.0K | ||
| Finance lease right-of-use assets | $11.0K | $14.0K | ||
| Operating lease right-of-use assets | $269.0K | $387.0K | ||
| Goodwill | $182.0K | $182.0K | ||
| Other non-current assets | $140.0K | $0 | ||
| Total assets | $29.6M | $4.1M | ||
| Accounts payable | $1.1M | $174.0K | ||
| Accrued payroll | $774.0K | $519.0K | ||
| Contract liabilities | $150.0K | $0 | ||
| Finance lease liabilities, current | $3.0K | $3.0K | ||
| Operating lease liabilities, current | $125.0K | $116.0K | ||
| Other current liabilities | $101.0K | $112.0K | ||
| Total current liabilities | $2.3M | $924.0K | ||
| Finance lease liabilities, net of current portion | $9.0K | $12.0K | ||
| Operating lease liabilities, net of current portion | $152.0K | $277.0K | ||
| Total liabilities | $2.4M | $1.2M | ||
| Common stock, par value $0.0001 per share, 300,000,000 and 55,550,158 shares authorized; 57,542,113 and 19,996,529 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $6.0K | $4.0K | ||
| Additional paid-in capital | $59.5M | $30.0M | ||
| Accumulated deficit | -$32.5M | -$27.2M | ||
| Accumulated other comprehensive income | $237.0K | $122.0K | ||
| Total stockholders equity | $27.2M | $2.9M | $3.2M | |
| Allowance | $118.0K | $128.0K | ||
| Preferred stock, par value (in Dollars per share) | $0.00 | |||
| Preferred stock, shares authorized (in shares) | 10.0M shares | |||
| Common stock, par value (in Dollars per share) | $0.00 | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 300.0M shares | 300.0M shares | 55.6M shares | |
| Common stock, shares issued (in shares) | 57.5M shares | 57.5M shares | 39.9M shares | |
| Common stock, shares outstanding (in shares) | 57.5M shares | 57.5M shares | 39.9M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss | -$5.3M | -$994.0K |
| Depreciation and amortization expense | $115.0K | $110.0K |
| Interest expense | $1.0K | $1.0K |
| Stock based compensation | $473.0K | $112.0K |
| Gain on debt extinguishment | -$74.0K | $0 |
| Accounts receivable, net | $570.0K | -$499.0K |
| Allowance for credit losses | -$10.0K | $0 |
| Contract assets | -$164.0K | $235.0K |
| Other current assets | -$592.0K | -$49.0K |
| Long-term assets | -$140.0K | $0 |
| Accounts payable | $939.0K | $25.0K |
| Accrued payroll | $255.0K | -$4.0K |
| Other current liabilities | -$126.0K | -$143.0K |
| Contract liabilities | $150.0K | $0 |
| Operating lease right-of-use assets and lease liabilities | $8.0K | $5.0K |
| Net cash used in operating activities | -$3.9M | -$1.2M |
| Purchases of property, plant and equipment | -$105.0K | $0 |
| Cash acquired in reverse acquisition | $7.0K | $0 |
| Net cash used in investing activities | -$98.0K | $0 |
| Payment of finance lease liability | -$3.0K | -$2.0K |
| Proceeds from Offering, net of Offering costs | $28.8M | $0 |
| Proceeds from issuance of Series A Prime Preferred Stock | $0 | $609.0K |
| Payment of share repurchase liability | -$81.0K | $0 |
| Proceeds from exercise of stock options | $435.0K | $0 |
| Net cash provided by financing activities | $29.2M | $607.0K |
| Net change in cash and cash equivalents | $25.2M | -$594.0K |
| Effect of exchange rate on cash and cash equivalents | $115.0K | -$18.0K |
| Issuance of common stock in reverse acquisition | $176.0K | $0 |
No quarter-by-quarter statement was filed.
Leadership
Who has led Deep Isolation Nuclear, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
- Chief executive officerRodney Baltzer Aug 12, 2025 to now10
- PresidentRodney Baltzer Aug 12, 2025 to now10
- Chief financial officerJoseph Eugene Nelson Feb 26, 2026 to now11
Board members and other officers (13)
- Pres, Freestone Env SvcsSteven Airhart Aug 12, 2025 to now12
- CCOChristopher Lombard Parker Aug 18, 2025 to now13
- EVP EngineeringJesse Sloane Aug 18, 2025 to now14
- Chief of Staff, Corp. Sec.Sophie McCallum Sep 9, 2025 to now15
- Board memberRalph L. Hunter Jr. Apr 28, 2026 to now16
- Board memberTepper Leslie Goldman Aug 5, 2025 to now17
- Board memberRodney Baltzer Aug 12, 2025 to now10
- Board memberKent Cole Aug 13, 2025 to now18
- Board memberElizabeth Muller Aug 18, 2025 to now19
- Board memberJonathon Angell Oct 3, 2025 to now20
- Board memberChrista Steele Oct 6, 2025 to now21
- Board memberRenee J. Hornbaker Oct 21, 2025 to now22
- General counselPaula Beck Whitten-Doolin Feb 9, 2026 to now23
Named in SEC Form D filings
People the company listed in its private-offering notices.
- DirectorLeslie Goldman Tepper named Aug 8, 202524
Former names
- Aspen-1 Acquisition Inc.Mar 18, 2022 to Jul 18, 20252
Timeline
- Aug 12, 2025New chief executive Rodney Baltzer becomes CEO10
Filings
119 filings to the SEC since October 2021: 4 annual reports, 14 quarterly reports, 19 major events, 59 insider forms, 8 large holders, 1 private raises, 14 other. The latest 20:
- Oct 8, 20264 EDGAR
- Oct 8, 20264 EDGAR
- Oct 8, 20264 EDGAR
- Oct 8, 20264 EDGAR
- Oct 8, 20264 EDGAR
- Oct 8, 20264 EDGAR
- Oct 8, 20264 EDGAR
- Oct 8, 20264 EDGAR
- Oct 8, 20264 EDGAR
- Oct 8, 20264 EDGAR
- Oct 8, 20264 EDGAR
- Oct 8, 20264 EDGAR
- Oct 8, 20264 EDGAR
- Oct 2, 20268-K CURRENT REPORT EDGAR
- Sep 18, 20264 EDGAR
- Sep 18, 20264 EDGAR
- Sep 18, 20264 EDGAR
- Sep 18, 20264 EDGAR
- Sep 18, 20264 EDGAR
- Sep 1, 20268-K/A AMENDMENT NO. 1 TO FORM 8-K EDGAR
The 119 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
2 open-market trades by officers, directors and large owners since October 2021: 1 buys and 1 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jul 16, 2025 | Jacobs Ian SethPresident, CEO, CFO, Secretary | Buy | 25,000 | Form 4 | ||
| Jul 16, 2025 | Tompkins Mark N. | Sale | 25,000 | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Mark N. TompkinsSCHEDULE 13G/A, 3 filings Feb 10, 2023 to May 15, 202625
- Elizabeth MullerSCHEDULE 13D, 1 filing Aug 18, 202526
- Richard MullerSCHEDULE 13G, 1 filing Aug 18, 202527
- Robert L. MercerSCHEDULE 13G, 1 filing Aug 14, 202528
- Warren Edward Spieker Jr.SCHEDULE 13G, 1 filing Aug 14, 202529
- Ian Seth JacobsSC 13G, 1 filing Feb 13, 202330
Money raised
Private offerings the company reported to the SEC on Form D.
- Jul 23, 2025Raised $33 million in a private offering of equity Form D: 241 investors so far Form D
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 13SEC EDGARChristopher Lombard Parker, CCO
- 14SEC EDGARJesse Sloane, EVP Engineering
- 15
- 16SEC EDGARRalph L. Hunter Jr., Board member
- 17SEC EDGARTepper Leslie Goldman, Board member
- 18SEC EDGARKent Cole, Board member
- 19SEC EDGARElizabeth Muller, Board member
- 20SEC EDGARJonathon Angell, Board member
- 21SEC EDGARChrista Steele, Board member
- 22SEC EDGARRenee J. Hornbaker, Board member
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