American Fusion (OTC: AMFN), a developer of advanced fusion-energy technology, provided a corporate update highlighting the filing of 21 additional U.S. patent applications, bringing its intellectual property portfolio to 151 pending U.S. patent applications. The company continues testing and engineering validation of its Texatron(TM) Fusion Engine(TM) and has identified a site for a dedicated testing facility, negotiated principal terms and a purchase price and expects to enter escrow on the property through its affiliate.
American Fusion (OTCQB: AMFN) is also advancing preparations for a potential uplisting to a national securities exchange, with the Texas Stock Exchange (“TXSE”) under evaluation as its preferred potential venue and the New York Stock Exchange (“NYSE”) and Nasdaq also being considered. The company said it believes it currently satisfies TXSE initial listing criteria other than the minimum bid-price requirement and may be eligible under its $200 million market-capitalization standard based on its current valuation. American Fusion has also received several financing term sheets contemplating potential capital in connection with an uplisting and additional funding to accelerate commercialization of the Texatron(TM) platform, although no definitive financing agreement has been executed.
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