LIGHTBRIDGE Corp Files 2023 Annual Report on Form 10-K

TL;DR

<b>LIGHTBRIDGE Corp has filed its 2023 Form 10-K detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

LIGHTBRIDGE Corp (LTBR) filed a Annual Report (10-K) with the SEC on March 4, 2024. LIGHTBRIDGE Corp filed its 2023 Form 10-K on March 4, 2024. The company was formerly known as Thorium Power, Ltd and NovaStar Resources Ltd. Fiscal year end is December 31. The filing covers the period from January 1, 2023, to December 31, 2023. The company's business address is in Reston, VA.

Why It Matters

For investors and stakeholders tracking LIGHTBRIDGE Corp, this filing contains several important signals. This filing provides a comprehensive overview of the company's financial health, strategic initiatives, and risk factors for the past fiscal year. Investors and stakeholders can use this report to assess the company's performance, understand its market position, and make informed investment decisions.

Risk Assessment

Risk Level: low — LIGHTBRIDGE Corp shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand LIGHTBRIDGE Corp's operational performance and future outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (FISCAL YEAR END)
• 2024-03-04 — Filing Date (FILED AS OF DATE)
• 0001084554 — Central Index Key (CENTRAL INDEX KEY)
• 8742 — Standard Industrial Classification (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• LIGHTBRIDGE Corp (company) — FILER
• Thorium Power, Ltd (company) — FORMER COMPANY
• NOVASTAR RESOURCES LTD. (company) — FORMER COMPANY
• Reston (location) — CITY
• VA (location) — STATE
• 20190 (location) — ZIP
• 571 730 1200 (phone) — BUSINESS PHONE
• 20231231 (date) — CONFORMED PERIOD OF REPORT

FAQ

Industry Context

LIGHTBRIDGE Corp operates within the management consulting services industry, as indicated by its SIC code 8742.

Regulatory Implications

The filing is a standard Form 10-K, which is a mandatory annual report required by the U.S. Securities and Exchange Commission (SEC) for publicly traded companies.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators.
2. Review the business description and risk factors to understand the company's operational landscape and potential challenges.
3. Examine any disclosures regarding executive compensation or significant corporate events.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the annual financial statements.
• 2024-03-04: Filing Date — Date the 10-K report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the company's 2023 annual report (10-K), providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value LTBR The Nasdaq Capital M
• $0.5 million — 2024 at a fixed price of approximately $0.5 million. Engineering Study of Lightbridge Fue
• $0.2 million — 2024 at a fixed price of approximately $0.2 million. HALEU Consortium Membership To supp
• $1 million — by TAMU. In mid-2023, TAMU was awarded $1 million by the DOE's Nuclear Energy University

Filing Documents

• ltbr_10k.htm (10-K) — 888KB
• ltbr_ex231.htm (EX-23.1) — 2KB
• ltbr_ex311.htm (EX-31.1) — 10KB
• ltbr_ex312.htm (EX-31.2) — 10KB
• ltbr_ex32.htm (EX-32) — 5KB
• ltbr_ex971.htm (EX-97.1) — 23KB
• 0001477932-24-001002.txt (&nbsp;) — 3816KB
• ltbr-20231231.xsd (EX-101.SCH) — 44KB
• ltbr-20231231_lab.xml (EX-101.LAB) — 251KB
• ltbr-20231231_cal.xml (EX-101.CAL) — 33KB
• ltbr-20231231_pre.xml (EX-101.PRE) — 199KB
• ltbr-20231231_def.xml (EX-101.DEF) — 92KB
• ltbr_10k_htm.xml (XML) — 431KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 13 Item 1B. Unresolved Staff Comments 24 Item 1C. Cybersecurity 24 Item 2.

Properties

Properties 25 Item 3.

Legal Proceedings

Legal Proceedings 25 Item 4. Mine Safety Disclosures 25 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 26 Item 6. [Reserved] 26 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 34 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 34 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 35 Item 9A.

Controls and Procedures

Controls and Procedures 35 Item 9B. Other Information 36 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 36 PART III Item 10. Directors, Executive Officers, and Corporate Governance 37 Item 11.

Executive Compensation

Executive Compensation 37 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 37 Item 13. Certain Relationships and Related Transactions, and Director Independence 37 Item 14. Principal Accountant Fees and Services 37 PART IV Item 15. Exhibits and Financial Statement Schedules 38 Item 16. Form 10-K Summary 40

Signatures

Signatures 59 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS In addition to historical information, this Annual Report on Form 10-K, including, but not limited to, the sections entitled "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Business," contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. We use words such as "believe," "expect," "anticipate," "project," "target," "plan," "optimistic," "intend," "aim," "will," "may," or similar expressions, which are intended to identify forward-looking statements. Such statements include, among others: those concerning market and business segment growth, demand, and acceptance of our nuclear fuel technology and other steps toward the commercialization of Lightbridge Fuel; any projections of sales, earnings, revenue, margins, or other financial items; any statements of the plans, strategies, and objectives of management for future operations and the timing and outcome of the development of our nuclear fuel technology; any statements regarding future economic conditions or performance; any statements about future financings and liquidity; the Company's anticipated financial resources and position; and all assumptions, expectations, predictions, intentions, or beliefs about future events and other statements that are not historical facts. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, as well as assumptions that if they were to ever materialize or prove incorrect, could cause the results of the Company to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties, among others, include: our ability to c

BUSINESS

ITEM 1. BUSINESS When used in this Annual Report on Form 10-K, the terms "Lightbridge", the "Company", "we", "our", and "us" refer to Lightbridge Corporation together with its wholly-owned subsidiaries Lightbridge International Holding LLC and Thorium Power Inc. Lightbridge's principal executive offices are located at 11710 Plaza America Drive, Suite 2000, Reston, Virginia 20190 USA. Overview At Lightbridge, we are developing next generation nuclear fuel for water-cooled reactors that could significantly improve the economics and safety of existing and new nuclear power plants, large and small, and enhance proliferation resistance of spent nuclear fuel while supplying clean energy to the electric grid. We project that the world's energy and climate needs can only be met if nuclear power's share of the energy-generating mix grows substantially in the coming decades. We believe Lightbridge can benefit from a growing nuclear power industry, and that our nuclear fuel can help enable that growth to happen. We believe our metallic fuel will offer significant economic and safety benefits over traditional nuclear fuel, primarily because of the superior heat transfer properties and the resulting lower operating temperature of all-metal fuel. We also believe that uprating a reactor with Lightbridge Fuel will add incremental electricity at a lower levelized cost than any other means of generating baseload electric power, including any renewable, fossil, or hydroelectric energy source, or any traditional nuclear fuel. Emerging nuclear technologies include small modular reactors (SMRs), which are now in the development and licensing phases. We expect that Lightbridge Fuel can provide water-cooled SMRs with the same benefits our technology brings to large reactors, with such benefits being even more meaningful to the economic case for deployment of SMRs, including potential load following capability when included on a virtually zero-carbon electric grid with renewable ene

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View this 10-K filing on SEC EDGAR