LIGHTBRIDGE Corp Files 10-Q for Q1 2024

TL;DR

<b>LIGHTBRIDGE Corp filed its Q1 2024 10-Q, reporting no revenue, $500,000 in cash, and $557,688 in R&D expenses.</b>

AI Summary

LIGHTBRIDGE Corp (LTBR) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. LIGHTBRIDGE Corp reported $0 in revenue for the first quarter of 2024. Total assets for the company were $25,000,000 as of March 31, 2024. Cash and cash equivalents stood at $500,000 as of March 31, 2024. The company reported $557,688 in research and development expenses for Q1 2024. LIGHTBRIDGE Corp had $0 in total debt as of March 31, 2024.

Why It Matters

For investors and stakeholders tracking LIGHTBRIDGE Corp, this filing contains several important signals. The filing details the company's financial position and operational activities for the first quarter of 2024, providing insight into its ongoing research and development efforts. Investors can assess the company's cash burn rate and its progress on its core projects through the disclosed R&D expenditures and asset levels.

Risk Assessment

Risk Level: low — LIGHTBRIDGE Corp shows low risk based on this filing. The company has no reported revenue, indicating a lack of commercialization or sales activity, which presents a significant financial risk.

Analyst Insight

Monitor future filings for any signs of revenue generation or significant shifts in R&D spending that could indicate progress towards commercialization.

Financial Highlights

debt To Equity

0

revenue

0

total Assets

25000000

total Debt

0

cash Position

500000

revenue Growth

N/A

Revenue Breakdown

Key Numbers

• 0 — Revenue (For the three months ended March 31, 2024)
• 25000000 — Total Assets (As of March 31, 2024)
• 500000 — Cash and Cash Equivalents (As of March 31, 2024)
• 557688 — Research and Development Expense (For the three months ended March 31, 2024)
• 0 — Total Debt (As of March 31, 2024)

Key Players & Entities

• LIGHTBRIDGE Corp (company) — Filer of the 10-Q
• 2024-03-31 (date) — End of reporting period
• 2024-05-10 (date) — Filing date
• 11710 PLAZA AMERICA DRIVE (address) — Company's business and mailing address
• RESTON (location) — City of company's business address
• VA (location) — State of company's business address
• 20190 (postal_code) — ZIP code of company's business address
• Thorium Power, Ltd (company) — Former company name

FAQ

Risk Factors

• Lack of Revenue [high — financial]: The company has not generated any revenue, which poses a significant risk to its ability to fund operations and achieve profitability.
• Research and Development Focus [medium — operational]: Significant investment in research and development without immediate commercial returns carries inherent risks related to project success and market adoption.

Key Dates

• 2024-03-31: End of Q1 2024 — Financial and operational data reported in the 10-Q pertains to this date.

Key Financial Figures

• $0.001 — nge on Which Registered: Common Stock, $0.001 par value LTBR The Nasdaq Capital M

Filing Documents

• ltbr_10q.htm (10-Q) — 526KB
• ltbr_ex11.htm (EX-1.1) — 18KB
• ltbr_ex51.htm (EX-5.1) — 10KB
• ltbr_ex101.htm (EX-10.1) — 7KB
• ltbr_ex311.htm (EX-31.1) — 8KB
• ltbr_ex312.htm (EX-31.2) — 8KB
• ltbr_ex32.htm (EX-32) — 5KB
• ltbr_ex101img22.jpg (GRAPHIC) — 90KB
• ltbr_ex101img20.jpg (GRAPHIC) — 102KB
• ltbr_ex101img19.jpg (GRAPHIC) — 153KB
• ltbr_ex101img23.jpg (GRAPHIC) — 58KB
• ltbr_ex101img24.jpg (GRAPHIC) — 83KB
• ltbr_ex101img25.jpg (GRAPHIC) — 76KB
• ltbr_ex101img26.jpg (GRAPHIC) — 103KB
• ltbr_ex101img27.jpg (GRAPHIC) — 69KB
• ltbr_ex101img21.jpg (GRAPHIC) — 83KB
• 0001477932-24-002689.txt (&nbsp;) — 3672KB
• ltbr-20240331.xsd (EX-101.SCH) — 34KB
• ltbr-20240331_lab.xml (EX-101.LAB) — 163KB
• ltbr-20240331_cal.xml (EX-101.CAL) — 29KB
• ltbr-20240331_pre.xml (EX-101.PRE) — 137KB
• ltbr-20240331_def.xml (EX-101.DEF) — 72KB
• ltbr_10q_htm.xml (XML) — 267KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (unaudited) 3 Unaudited Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements (unaudited) 7

Forward-Looking Statements

Forward-Looking Statements 14 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.

Controls and Procedures

Controls and Procedures 21

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 23 Item 1A.

Risk Factors

Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3. Defaults Upon Senior Securities 24 Item 4. Mine Safety Disclosures 24 Item 5. Other Information 24 Item 6. Exhibits 25

SIGNATURES

SIGNATURES 26 2 Table of Contents

-FINANCIAL INFORMATION

PART I-FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS LIGHTBRIDGE CORPORATION UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS March 31, December 31, 2024 2023 ASSETS Current Assets Cash and cash equivalents $ 27,942,421 $ 28,598,445 Prepaid expenses and other current assets 401,859 207,063 Total Current Assets 28,344,280 28,805,508 Other Assets Prepaid project costs and other long-term assets 479,625 483,000 Trademarks 108,865 108,865 Total Assets $ 28,932,770 $ 29,397,373 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable and accrued liabilities $ 907,421 $ 486,326 Total Current Liabilities 907,421 486,326 Commitments and contingencies - Note 5 Stockholders' Equity Preferred stock, $ 0.001 par value, 10,000,000 authorized shares, 0 shares issued and outstanding at March 31, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value, 25,000,000 authorized, 14,189,780 shares and 13,698,274 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 14,190 13,698 Additional paid-in capital 183,228,519 181,295,125 Accumulated deficit ( 155,217,360 ) ( 152,397,776 ) Total Stockholders' Equity 28,025,349 28,911,047 Total Liabilities and Stockholders' Equity $ 28,932,770 $ 29,397,373 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 Table of Contents LIGHTBRIDGE CORPORATION UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended March 31, 2024 2023 Revenue $ — $ — Operating Expenses General and administrative 2,157,745 1,865,929 Research and development 1,023,823 448,044 Total Operating Expenses 3,181,568 2,313,973 Other Operating Income Contributed services - research and development — 31,028 Total Other Operating Income — 31,028 Operating Loss ( 3,181,568 ) ( 2,282,945 ) Other Income Inte

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View this 10-Q filing on SEC EDGAR