Lightbridge Corp Q3 2024: Liabilities Rise to $1.2M

TL;DR

LTBR Q3 liabilities jumped to $1.2M from $0.5M due to accrued bonuses.

AI Summary

LIGHTBRIDGE Corp filed its Q3 2024 10-Q report on November 1, 2024, for the period ending September 30, 2024. The company reported total liabilities of $1.2 million as of September 30, 2024, an increase from $0.5 million as of December 31, 2023. Key components of the increase include accrued bonus expenses of $0.8 million.

Why It Matters

The increase in liabilities suggests potential upcoming financial obligations or increased operational costs for Lightbridge Corp, which could impact its financial flexibility.

Risk Assessment

Risk Level: medium — The significant increase in liabilities, particularly accrued bonus expenses, warrants attention regarding the company's financial health and future cash flow.

Key Numbers

• $1.2M — Total Liabilities (As of September 30, 2024, an increase from the prior year-end.)
• $0.5M — Total Liabilities (As of December 31, 2023.)
• $0.8M — Accrued Bonus (A significant component of the increased liabilities in the current period.)

Key Players & Entities

• LIGHTBRIDGE Corp (company) — Filer of the 10-Q report
• November 1, 2024 (date) — Filing date of the 10-Q
• September 30, 2024 (date) — End of the reporting period
• $1.2 million (dollar_amount) — Total liabilities as of September 30, 2024
• $0.5 million (dollar_amount) — Total liabilities as of December 31, 2023
• $0.8 million (dollar_amount) — Accrued bonus expenses

FAQ

Key Financial Figures

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

Filing Documents

• ltbr_10q.htm (10-Q) — 769KB
• ltbr_ex311.htm (EX-31.1) — 8KB
• ltbr_ex312.htm (EX-31.2) — 9KB
• ltbr_ex32.htm (EX-32) — 5KB
• 0001477932-24-006831.txt ( ) — 3100KB
• ltbr-20240930.xsd (EX-101.SCH) — 38KB
• ltbr-20240930_lab.xml (EX-101.LAB) — 182KB
• ltbr-20240930_cal.xml (EX-101.CAL) — 31KB
• ltbr-20240930_pre.xml (EX-101.PRE) — 162KB
• ltbr-20240930_def.xml (EX-101.DEF) — 97KB
• ltbr_10q_htm.xml (XML) — 377KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (unaudited) 3 Unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Unaudited Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements (unaudited) 8

Forward-Looking Statements

Forward-Looking Statements 16 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 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.

Controls and Procedures

Controls and Procedures 26

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 27 Item 1A.

Risk Factors

Risk Factors 27 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 3. Defaults Upon Senior Securities 27 Item 4. Mine Safety Disclosures 27 Item 5. Other Information 28 Item 6. Exhibits 29

SIGNATURES

SIGNATURES 30 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 September 30, December 31, 2024 2023 ASSETS Current Assets Cash and cash equivalents $ 26,634,951 $ 28,598,445 Prepaid expenses and other current assets 403,922 207,063 Total Current Assets 27,038,873 28,805,508 Other Assets Prepaid project costs and other long-term assets 472,875 483,000 Trademarks 108,865 108,865 Total Assets $ 27,620,613 $ 29,397,373 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable and accrued liabilities $ 1,159,566 $ 486,326 Total Current Liabilities 1,159,566 486,326 Commitments and contingencies - Note 5 Stockholders' Equity Preferred stock, $ 0.001 par value, 10,000,000 authorized shares, 0 shares issued and outstanding at September 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value, 25,000,000 authorized, 15,276,331 shares and 13,698,274 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 15,276 13,698 Additional paid-in capital 186,693,926 181,295,125 Accumulated deficit ( 160,248,155 ) ( 152,397,776 ) Total Stockholders' Equity 26,461,047 28,911,047 Total Liabilities and Stockholders' Equity $ 27,620,613 $ 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 Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Revenue $ — $ — $ — $ — Operating Expenses General and administrative 1,676,209 1,609,142 5,626,567 5,071,889 Research and development 1,298,601 552,751 3,232,036 1,367,650 Total Operating Expenses 2,974,810 2,161,893 8,858,603 6,439,539 Other Operating Income Contributed services - res

View Full Filing

View this 10-Q filing on SEC EDGAR