Nuclear Fuel Development - Lightbridge Corporation is developing next-generation nuclear fuel, Lightbridge Fuel™, aimed at improving the economics and safety of nuclear power plants[55]. - The company has entered into a FEED study agreement with Centrus Energy for a Lightbridge Pilot Fuel Fabrication Facility, with an estimated total fee of $0.3 million[59]. - A feasibility study for the use of Lightbridge Fuel™ in CANDU reactors is being conducted, with a total fee of approximately $0.2 million expected to be completed in 2024[61]. - Lightbridge anticipates that the initial phase of work with Idaho National Laboratory will culminate in casting and extrusion of unclad fuel material samples, with total cash payments estimated at approximately $4.3 million[67]. - The company expects to begin demonstration of lead test rods in commercial reactors in the 2030s, with initial fuel reload batches anticipated 15-20 years from now[71]. - Lightbridge's metallic fuel is projected to offer significant economic benefits over traditional nuclear fuel due to superior heat transfer properties[56]. - The company has built a significant portfolio of patents and is collaborating with the U.S. Department of Energy's national laboratories for R&D activities[58]. - A $1 million award from the DOE's Nuclear Energy University Program is supporting a study on Lightbridge Fuel™ performance led by Texas A&M University[68]. - The company is exploring ways to shorten the commercialization timeframe for its nuclear fuel technology, including securing access to expanded irradiation test loop capacity[71]. - Lightbridge's ongoing projects include evaluating accident-tolerant fuels in various small modular reactors, with no contractual obligations for revenue from these collaborations[68]. Financial Performance - Total operating expenses for the three months ended June 30, 2024, increased by $0.7 million (35%) to $2.7 million compared to $2.0 million in the same period of 2023[75]. - Research and development (R&D) expenses for the three months ended June 30, 2024, increased by $0.5 million (125%) to $0.9 million compared to $0.4 million in the same period of 2023[78]. - The company projects to invest approximately $8.3 million in R&D of nuclear fuel over the next 12 to 15 months[79]. - Net loss for the three months ended June 30, 2024, was $2.4 million, an increase of $0.7 million (41%) compared to a net loss of $1.7 million in the same period of 2023[75]. - Total R&D expenses for the six months ended June 30, 2024, increased by $1.1 million (138%) to $1.9 million compared to $0.8 million in the same period of 2023[85]. - Cash and cash equivalents as of June 30, 2024, were $27.1 million, a decrease of $1.5 million from $28.6 million at December 31, 2023[89]. - The company expects total expenditures of approximately $14.3 million for the next 12 months, with anticipated negative cash flow from operations[90]. - Other income increased by $0.2 million (40%) for the six months ended June 30, 2024, due to rising interest rates[87]. - General and administrative expenses for the six months ended June 30, 2024, increased by $0.6 million (18%) to $4.0 million compared to $3.4 million in the same period of 2023[82]. - The company raised net proceeds of $2.2 million from the sale of approximately 0.8 million shares of common stock during the six months ended June 30, 2024[89]. - For the six months ended June 30, 2024, net cash used in operating activities increased by $0.7 million to $3.7 million compared to $3.0 million for the same period in 2023, primarily due to increased R&D and administrative expenses[98]. - Cash provided by the ATM facility was $2.2 million for the six months ended June 30, 2024, from the sale of approximately 0.8 million common shares, compared to $2.3 million from approximately 0.5 million shares in 2023[98]. - The company reported a net cash outflow of $1.5 million for the six months ended June 30, 2024, compared to $0.7 million for the same period in 2023[97]. - The net cash provided by financing activities decreased by $0.1 million for the six months ended June 30, 2024, compared to the same period in 2023[98]. Financing and Market Conditions - The company has no debt and has financed operations through the sale of preferred and common stock, with potential future equity investments being uncertain due to adverse market conditions[95]. - The company is seeking new financing sources to support R&D activities and move fuel products to a commercial stage, with no assurance that these sources will be available[96]. - The company is subject to "baby shelf rules," limiting the amount it can raise through public offerings to one-third of its public float, which is currently below $75 million[94]. - The company does not have any off-balance sheet arrangements that could materially affect its financial condition or results[99]. Inflation and Strategic Alliances - The company has not been materially affected by inflation in its business, revenues, or operating results[100]. - The company aims to create strategic alliances to support remaining R&D activities, although forming such alliances may not be feasible[97].

Financial Position - Lightbridge Corporation reported a working capital position of $26.4 million with no debt as of June 30, 2024[2]. - Total assets were reported at $28.0 million, with total liabilities of $0.9 million as of June 30, 2024[4]. - Stockholders' equity decreased to $27.0 million at June 30, 2024, down from $28.9 million at December 31, 2023[4]. Cash Flow - Cash and cash equivalents decreased to $27.1 million for the six months ended June 30, 2024, down from $28.6 million at December 31, 2023, a decrease of $1.5 million[3]. - Cash and cash equivalents at the end of the period were $27,067,039, down from $28,204,016 at the end of the same period in 2023, reflecting a decrease of approximately 4.0%[14]. - The company reported a net decrease in cash and cash equivalents of $1,531,406 for the six months ended June 30, 2024, compared to a decrease of $695,981 in the same period of 2023, indicating a significant increase in cash outflow[14]. Operating Expenses - Operating expenses for the three months ended June 30, 2024, were $2.7 million, compared to $2.0 million for the same period in 2023, reflecting an increase of 35.5%[12]. - Research and development expenses increased to $0.9 million for the three months ended June 30, 2024, from $0.4 million in the same period of 2023, a rise of 127.5%[5]. - Stock-based compensation increased to $841,120 for the six months ended June 30, 2024, from $601,158 in the same period of 2023, marking an increase of about 39.9%[14]. Net Loss - The net loss for the second quarter ended June 30, 2024, was $2.4 million, compared to a net loss of $1.7 million for the same quarter in 2023[6]. - Net loss for the six months ended June 30, 2024, was $5,194,218, compared to a net loss of $3,698,804 for the same period in 2023, representing an increase of approximately 40.4%[13]. - Net cash used in operating activities for the six months ended June 30, 2024, was $3,725,447, compared to $3,010,363 for the same period in 2023, indicating an increase of about 23.7%[14]. Investments and Agreements - Lightbridge Corporation plans to invest approximately $8.3 million in R&D for its nuclear fuel over the next 12 to 15 months[5]. - Lightbridge has entered into two long-term framework agreements with Battelle Energy Alliance LLC to support the development of Lightbridge Fuel[8]. - The ADVANCE Act is expected to facilitate a more efficient regulatory licensing process for advanced nuclear technologies, including Lightbridge Fuel™[1].

Core Insights - Lightbridge Corporation reported its financial results for Q2 2024, highlighting progress in advanced nuclear fuel technology and the impact of the recently passed ADVANCE Act on the industry [1][2]. Financial Highlights - The working capital position at June 30, 2024, was $26.4 million, with no debt [3]. - Cash and cash equivalents decreased to $27.1 million from $28.6 million at the end of 2023, a reduction of $1.5 million [4]. - Operating activities used $3.7 million in cash for the first half of 2024, an increase of $0.7 million compared to the same period in 2023 [4]. - Total assets were $28.0 million, and total liabilities were $0.9 million as of June 30, 2024 [5]. Operations Summary - General and administrative expenses for Q2 2024 were $1.8 million, up from $1.6 million in Q2 2023 [6]. - Research and development expenses increased to $0.9 million in Q2 2024 from $0.4 million in Q2 2023, primarily due to higher project labor costs [7]. - The net loss for Q2 2024 was $2.4 million, compared to a net loss of $1.7 million in Q2 2023 [7]. Legislative Impact - The ADVANCE Act is expected to streamline the regulatory licensing process for advanced nuclear technologies, which is crucial for the deployment of Lightbridge Fuel™ [2]. - The legislation aims to enhance safety and economic competitiveness for existing and next-generation reactors, facilitating quicker market entry for advanced nuclear solutions [2]. Future Projections - The company plans to invest approximately $8.3 million in R&D for its nuclear fuel over the next 12 to 15 months [7].

Core Viewpoint - Lightbridge Corporation is set to announce its financial results for Q2 of fiscal year 2024 on July 31, 2024, and will host a conference call on August 1, 2024, to discuss these results and provide updates on its fuel development activities [1][2]. Company Overview - Lightbridge Corporation (NASDAQ:LTBR) focuses on developing advanced nuclear fuel technology aimed at delivering abundant, zero-emission clean energy and enhancing global energy security [3]. - The company is developing Lightbridge Fuel™, a proprietary next-generation nuclear fuel technology designed for existing light water reactors and pressurized heavy water reactors, which significantly improves reactor safety, economics, and proliferation resistance [3]. - Lightbridge is also working on Lightbridge Fuel for new small modular reactors (SMRs), which will provide similar benefits while enabling load-following capabilities with renewable energy on a zero-carbon electric grid [3]. Recent Developments - Lightbridge has entered into two long-term framework agreements with Battelle Energy Alliance LLC, the operating contractor for the Idaho National Laboratory, which is the U.S.'s leading nuclear energy research and development laboratory [10]. - The company has received support from the DOE's Gateway for Accelerated Innovation in Nuclear program, which has awarded Lightbridge funding for the development of Lightbridge Fuel over the past several years [10]. - Lightbridge is participating in two university-led studies through the DOE Nuclear Energy University Program at the Massachusetts Institute of Technology and Texas A&M University [10]. - The company boasts an extensive worldwide patent portfolio that supports its innovative fuel technology and is included in the Russell Microcap® Index [10].

Seth Grae, President & CEO of Lightbridge Corporation, commented, "We are thrilled to see the ADVANCE Act pass with such overwhelming support in both the House and the Senate. While the Act does not remove all hurdles facing deployment of advanced nuclear technologies, this landmark legislation marks a significant step forward for the nuclear industry and reinforces the critical role of advanced nuclear technologies in our clean energy future. By streamlining regulatory processes, supporting the development ...

Investor Relations Contact: Matthew Abenante, IRC Director of Investor Relations Tel: +1 (347) 947-2093 ir@ltbridge.com To receive Lightbridge Corporation updates via e-mail, subscribe at https://www.ltbridge.com/investors/newsevents/email-alerts RESTON, Va., June 25, 2024 (GLOBE NEWSWIRE) -- Lightbridge Corporation ("Lightbridge") (Nasdaq: LTBR), an advanced nuclear fuel technology company, applauds the passage of the ADVANCE Act, or the Accelerating Deployment of Versatile, Advanced Nuclear for Clean Ener ...

(Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 001-34487 LIGHTBRIDGE CORPORATION (Address of prin ...

Lightbridge Corporation (NASDAQ:LTBR) Q1 2024 Earnings Conference Call May 10, 2024 11:00 AM ET Company Participants Matthew Abenante - Director of IR Seth Grae - President & CEO Andrey Mushakov - EVP of Nuclear Operations James Fornof - Vice President, Program Management Scott Holcombe - VP of Engineering Lawrence Goldman - CFO Sherrie Holloway - Controller Operator Thank you for standing by, and welcome to the Lightbridge Corporation Business Update and First Quarter 2024 Conference Call. Please note that ...

EXHIBIT 99.1 EX-99.1 2 ltbr_ex991.htm PRESS RELEASE Cash Flows Summary Cash and cash equivalents were $27.9 million, as compared to $28.6 million at December 31, 2023, a decrease of $0.7 million for the first quarter ended March 31, 2024, consisting of the following: 1 Balance Sheet Summary Lightbridge Provides Business Update and Announces First Quarter 2024 Financial Results Conference Call on Friday, May 10th at 11 a.m. ET RESTON, Va, May 9, 2024 (GLOBE NEWSWIRE) – Lightbridge Corporation ("Lightbridge") ...

RESTON, Va., May 01, 2024 (GLOBE NEWSWIRE) -- Lightbridge Corporation ("Lightbridge") (NASDAQ:LTBR), an advanced nuclear fuel technology company, will announce its financial results for the first quarter of fiscal year 2024 on Thursday, May 9th after the market closes. Lightbridge will host a conference call on Friday, May 10, at 11:00 AM ET with the investment community to discuss the Company's financial results and provide an update on its fuel development activities. CONFERENCE CALL & AUDIO WEBCAST The c ...