Lightbridge(LTBR)2025-02-26 21:30Financial Performance - Lightbridge Corporation reported a net loss of 7.9 million for the previous year, representing a 49% increase in losses[8]. - The net loss for the year ended December 31, 2024, was 7,908,646 in 2023, representing an increase in losses of approximately 49%[24]. - Net cash used in operating activities increased to 6,484,733 in 2023, reflecting a rise of about 46%[24]. Cash and Liquidity - Cash and cash equivalents increased to 28.6 million at the end of 2023, marking an increase of 39,990,827, up from 39.9 million at December 31, 2024, compared to 4.6 million in 2024, compared to 17 million in capital and operating expenditures for R&D in 2025[11]. - The company successfully co-extruded a sample of depleted uranium and zirconium alloy with nuclear-grade zirconium cladding, demonstrating advancements in its fuel technology[2]. - Lightbridge Fuel™ is designed to enhance heat transfer capabilities, resulting in lower operating temperatures and improved economic and safety benefits for reactors[2]. Equity and Liabilities - The company reported total assets of 0.4 million at December 31, 2024[11]. - Lightbridge's stockholders' equity increased to 28.9 million at the end of 2023, reflecting a 40% increase[11]. Financing Activities - The company raised 6,405,431 raised in 2023, marking an increase of approximately 234%[24]. - The net cash provided by financing activities was 6,183,821 in 2023, indicating an increase of about 237%[24]. - The company made a non-cash financing activity payment of accrued liabilities with common stock amounting to 215,000 in 2023[24]. Expenses - General and administrative expenses increased to 7.1 million in 2023, a rise of 19.0% primarily due to higher employee compensation and consulting fees[11]. - The company reported stock-based compensation of 1,257,717 in 2023, which is an increase of approximately 62%[24]. - Payments for taxes related to net share settlement of equity awards were 221,610 in 2023, reflecting an increase of about 157%[24]. - The common stock issued for services increased to 45,000 in 2023, representing an increase of approximately 146%[24]. - The company reported a decrease in accounts payable and accrued liabilities, which amounted to 350,995 in 2023, a decrease of approximately 45%[24].