Understand The Income Statement

OKLO is a very interesting company, not because of the WHAT but the WHO involved. It dropped 25% on the recent Deepseek news, which I view as a potential opportunity to buy in. This is a speculative play and a low exposure long term hold in my view.

We are a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses, which we refer to throughout this Annual Report as our initial business combination. We have neither engaged in any operations nor generated any revenue to date. Based on our business activities, the company is a “shell company” as defined under the Exchange Act because we have no operations and nominal assets consisting almost entirely of cash.

Leadership:

Sam Altman – Board Chair.

• Chris Wright - CEO of Liberty Energy, bringing extensive experience in the energy sector. His knowledge of energy technologies and market dynamics supports Oklo's efforts to position its advanced reactors within the broader energy landscape
  
  On January 13, 2025, Christopher Wright notified the board of directors (the “Board”) of Oklo Inc. (the “Company”) that he intended to resign as a director of the Board, including as a member of the Board’s Audit Committee and Compensation Committee, subject to and effective upon his confirmation as the United States Secretary of Energy by the United States Senate. Mr. Wright’s conditional decision to resign was due solely to his possible confirmation as Secretary of Energy and not due to any disagreement with the Company on any matter related to the Company’s operations, policies or practices.
  

• Richard Kinzley - Chief Financial Officer at Black Hills Corporation, a diversified energy company. His expertise in financial management and regulatory compliance aids Oklo in navigating the financial aspects of the energy industry.
  

• Lt. General John Jansen (Ret.) – Board Member - Lt. General John Jansen is a retired officer of the United States Marine Corps with a distinguished military career. His leadership experience and strategic planning skills contribute to Oklo's organizational development and operational excellence.
  
  Current Projects and Department of Energy Progress

  1. Micro-Reactor Pilot Program with the U.S. Air Force

  2. In August 2023, the Department of the Air Force, in partnership with the Defense Logistics Agency Energy, announced a critical milestone in piloting advanced nuclear energy technology. They issued a Notice of Intent to Award (NOITA) a contract to Oklo Inc. to site, design, construct, own, and operate a micro-reactor facility at Eielson Air Force Base in Alaska. This facility will be licensed by the Nuclear Regulatory Commission (NRC).

  3. Energy Resilience: The ability to generate reliable power in remote locations enhances operational readiness and mission assurance for military installations.

  4. Scalability: Successful implementation could lead to broader adoption across other military bases, indicating a significant market expansion within the Department of Defense.

  5. Strategic Advantage: Utilizing advanced nuclear technology aligns with national interests by promoting energy independence and reducing reliance on fossil fuels.
     Partnership with Diamondback Energy

     1. In April 2024, Oklo signed a non-binding Letter of Intent (LOI) with Diamondback Energy Inc., a major independent oil and natural gas company operating in the Permian Basin. The agreement outlines plans for a 20-year Power Purchase Agreement (PPA) where Oklo would supply 50 megawatts of reliable and emission-free electricity using its Aurora powerhouses.

        1. Terms: Oklo intends to license, build, and operate powerhouses capable of generating 50 MW of electric power, with options to renew and extend the PPA for an additional 20 years.

        2. Business Model: Oklo's design-build-own-operate approach allows customers like Diamondback to purchase power without complex ownership issues or significant capital investments.

        3. Long-Term Partnerships: Extended PPA options indicate confidence in the technology's longevity and reliability.