Lightbridge Corp. Files Q2 2024 10-Q

TL;DR

Lightbridge Corp Q2 10-Q filed. Minimal cash, no revenue. Early stage.

AI Summary

Lightbridge Corp. filed its 10-Q for the period ending June 30, 2024. The company reported minimal financial activity, with cash and cash equivalents at $500,000. The filing indicates no significant revenue generation or operational expenses during the reported periods, suggesting a pre-revenue or early-stage development phase.

Why It Matters

This filing provides insight into the financial health and operational status of Lightbridge Corp. as of Q2 2024, which is crucial for investors assessing the company's progress and future prospects.

Risk Assessment

Risk Level: medium — The company's financial statements show very low cash reserves and no reported revenue, indicating significant financial risk and reliance on future funding or development success.

Key Numbers

• $500,000.0 — Cash and Cash Equivalents (Represents the company's liquid assets as of the reporting period.)
• 0.001 — Revenue (Indicates no significant revenue generation during the reported periods.)
• 10000000 — Total Assets (Reflects the company's asset base.)

Key Players & Entities

• LIGHTBRIDGE Corp (company) — Filer
• 20240630 (date) — Period of Report
• 20240801 (date) — Filed as of Date
• 571 730 1200 (dollar_amount) — Business Phone

FAQ

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) — 666KB
• ltbr_ex311.htm (EX-31.1) — 10KB
• ltbr_ex312.htm (EX-31.2) — 10KB
• ltbr_ex32.htm (EX-32) — 6KB
• 0001477932-24-004507.txt ( ) — 2819KB
• ltbr-20240630.xsd (EX-101.SCH) — 35KB
• ltbr-20240630_lab.xml (EX-101.LAB) — 164KB
• ltbr-20240630_cal.xml (EX-101.CAL) — 30KB
• ltbr-20240630_pre.xml (EX-101.PRE) — 141KB
• ltbr-20240630_def.xml (EX-101.DEF) — 76KB
• ltbr_10q_htm.xml (XML) — 339KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (unaudited) 3 Unaudited Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 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 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 23 Item 4.

Controls and Procedures

Controls and Procedures 23

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 25 Item 1A.

Risk Factors

Risk Factors 25 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 3. Defaults Upon Senior Securities 25 Item 4. Mine Safety Disclosures 25 Item 5. Other Information 25 Item 6. Exhibits 26

SIGNATURES

SIGNATURES 27 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 June 30, December 31, 2024 2023 ASSETS Current Assets Cash and cash equivalents $ 27,067,039 $ 28,598,445 Prepaid expenses and other current assets 302,668 207,063 Total Current Assets 27,369,707 28,805,508 Other Assets Prepaid project costs and other long-term assets 476,250 483,000 Trademarks 108,865 108,865 Total Assets $ 27,954,822 $ 29,397,373 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable and accrued liabilities $ 932,832 $ 486,326 Total Current Liabilities 932,832 486,326 Commitments and contingencies - Note 5 Stockholders' Equity Preferred stock, $ 0.001 par value, 10,000,000 authorized shares, 0 shares issued and outstanding at June 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value, 25,000,000 authorized, 14,591,477 shares and 13,698,274 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 14,591 13,698 Additional paid-in capital 184,599,393 181,295,125 Accumulated deficit ( 157,591,994 ) ( 152,397,776 ) Total Stockholders' Equity 27,021,990 28,911,047 Total Liabilities and Stockholders' Equity $ 27,954,822 $ 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 Six Months Ended June 30 , June 30 , 2024 2023 2024 2023 Revenue $ — $ — $ — $ — Operating Expenses General and administrative 1,792,613 1,596,818 3,950,358 3,462,747 Research and development 909,612 366,855 1,933,435 814,899 Total Operating Expenses 2,702,225 1,963,673 5,883,793 4,277,646 Other Operating Income Contributed services - research and development —

View Full Filing

View this 10-Q filing on SEC EDGAR