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 ...

Nuclear Fuel Technology Development - Lightbridge is developing next-generation nuclear fuel that aims to improve the economics and safety of nuclear power plants, with a focus on metallic fuel that offers superior heat transfer properties [22]. - The company projects that its Lightbridge Fuel™ can provide a power uprate of up to 30% in new-build water-cooled reactors and a potential increase of up to 17% in existing reactors while extending operating cycles from 18 to 24 months [33][35]. - Lightbridge's nuclear fuel technology is expected to significantly enhance safety margins during off-normal events, with preliminary modeling indicating that its fuel rods would remain approximately 200 degrees Celsius cooler than conventional fuels during loss-of-coolant accidents [40]. - Lightbridge anticipates that its fuel will produce half the amount of plutonium compared to conventional fuels, enhancing proliferation resistance and making it unsuitable for weapon purposes [41]. - The anticipated safety benefits of Lightbridge Fuel™ include enhanced structural integrity and improved seismic performance, contributing to overall reactor safety [42]. - The company is developing proprietary nuclear fuel designs expected to enhance the nuclear power industry's economics through higher power output and longer fuel cycles [171]. Research and Development Initiatives - The company has built a significant portfolio of patents and is conducting R&D activities in collaboration with the U.S. Department of Energy's national laboratories [25]. - A $1 million award from the DOE's Nuclear Energy University Program was granted to Texas A&M University for a study on Lightbridge Fuel™, which will generate experimental data on its performance [53]. - The company plans to conduct loop irradiation testing of its metallic fuel samples in the ATR at INL to confirm performance under reactor conditions [64]. - The company anticipates investing approximately $6 million to $8 million in R&D for nuclear fuel over the next 12 to 15 months [203]. - Total R&D expenses increased by $1.2 million for the year ended December 31, 2023, compared to 2022, primarily due to increased INL project labor costs of $0.8 million and allocated employee compensation of $0.4 million [202]. Market and Industry Context - As of January 2024, there are approximately 60 nuclear reactors under construction globally, with most located in Asia, indicating a growing market for Lightbridge's fuel technology [32]. - The nuclear power industry is expected to play a critical role in achieving significant decarbonization, with Lightbridge's technology positioned to support this transition [38]. - Lightbridge's target market includes water-cooled commercial power reactors, such as PWRs, BWRs, and SMRs, which represent a substantial segment of the nuclear power industry [34]. - A decline in the price of non-nuclear energy sources could limit the deployment of new nuclear power plants, reducing the potential market for the company's nuclear fuel technology [116]. - The company faces indirect competition from renewable energy sources, particularly wind and solar, due to government subsidies and incentives that could impact customer purchasing decisions [117]. Financial Performance and Funding - As of December 31, 2023, the company had $28.6 million in cash and cash equivalents and an accumulated deficit of $152.4 million [85]. - The company reported a net loss of $7.9 million for 2023, a 5% increase from a net loss of $7.5 million in 2022 [198]. - The company raised net proceeds of $6.4 million from the sale of approximately 1.5 million shares of common stock during the year ended December 31, 2023 [209]. - The projected total expected expenditures for the next 12 months are approximately $13.8 million, with anticipated negative cash flow from operations [211]. - The company has no debt or lines of credit and has financed operations through the sale of preferred and common stock [215]. Challenges and Risks - The company faces challenges in funding its fuel development program, which is critical to adhere to projected timelines for commercialization [59]. - Establishing a supply chain infrastructure for HALEU is necessary for the commercialization of Lightbridge's nuclear fuel, requiring modifications to existing facilities [63]. - Labor shortages and supply chain disruptions could negatively impact R&D timelines and financial results due to increased shipping demand and inflationary pressures [115]. - The company faces competition from advanced fuel technology (ATF) vendors, which may threaten its value proposition in existing large PWRs [71]. - The company may struggle to obtain necessary authorizations for international technology sales, which could materially affect its international business growth [121]. Intellectual Property and Confidentiality - The company received 1 new patent in 2023 and currently holds 11 U.S. patents and over 146 foreign patents, with U.S. patents beginning to expire in 2027 [77]. - The company intends to apply for additional patents for its nuclear fuel technologies, although the effectiveness of these patents is uncertain [141]. - The company relies on trade secrets to protect some technology, but enforcement of these rights can be expensive and uncertain [142]. - The company has established business procedures to maintain the confidentiality of its proprietary information, including confidentiality agreements [78]. - The company may face challenges in protecting its intellectual property rights, which could adversely affect its business and financial condition if infringed upon [126]. Organizational Structure and Workforce - The company employs six full-time employees and utilizes independent contractors and agencies for various business functions [80]. - The company emphasizes the importance of diversity and inclusion in its workforce to foster creative solutions and better outcomes [82]. - The company is dependent on the recruitment and retention of highly skilled employees, with potential adverse effects on business if qualified personnel cannot be attracted or retained [118]. - Significant leadership changes could hinder strategic planning and execution, potentially causing uncertainty among investors and affecting future performance [120]. Future Outlook and Strategic Plans - Lightbridge expects to have lead test assemblies of its fuel ready for insertion in a commercial reactor in the 2030s, following an estimated eight years for design and safety justification [197]. - The company plans to negotiate subsequent phases of work under agreements with Idaho National Laboratory, which may include post-irradiation examination and transient experiments [177]. - The company is exploring potential collaborations and acquisitions to leverage operational synergies and establish new revenue streams in the nuclear sector [68]. - Future acquisitions may divert management's attention and resources, potentially leading to integration challenges and adverse effects on operating results [133].