Lightbridge(LTBR)2020-05-15 01:37Financial Data and Key Metrics Changes - As of March 31, 2020, the company had 17.9 million on December 31, 2019, representing a decrease of 2.3 million compared to 2 million, an increase from 1.5 million in Q1 2019, primarily due to employee compensation and professional fees [32] Business Line Data and Key Metrics Changes - Total corporate R&D costs amounted to 0.4 million in Q1 2020, down from 0.9 million in Q1 2019, reflecting a decrease in R&D activities with Framatome and Enfission [36] - General and administrative (G&A) expenses for Q1 2020 were 1.9 million, up from 50 million, creating an addressable market of $21 billion at current capacity with 419 reactors operating worldwide [22] Company Strategy and Development Direction - The company aims to leverage its partnership with the U.S. Department of Energy (DOE) to advance its metallic fuel technology and align with the Nuclear Fuel Working Group's recommendations [19][55] - Lightbridge is exploring opportunities in the CANDU reactor market, which could provide economic benefits and improved safety [25][26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future of nuclear energy, highlighting bipartisan support for nuclear power and the potential for advanced nuclear technologies to regain U.S. leadership in the sector [16][19] - The company is focused on preserving its cash runway to the end of 2021 while seeking additional funding opportunities and strategic alliances to support its R&D efforts [30] Other Important Information - The company has implemented significant budget cuts, including a 50% reduction in employee headcount, to navigate the challenges posed by COVID-19 [28] - A new employee stock purchase plan (ESPP) has been adopted to facilitate ownership of Lightbridge stock among eligible employees [40] Q&A Session Summary Question: Has Lightbridge applied for a PPP loan? - The company considered it but decided not to apply, believing its cash reserves are sufficient to last through the end of 2021 [45] Question: Have you considered selling and/or leasing patent rights to fund Lightbridge beyond December 2021? - Currently, the company is not pursuing this but is exploring opportunities related to CANDU reactors and other non-dilutive funding options [46] Question: Will Lightbridge Fuel be tested at TREAT or ORNL as part of the current GAIN Voucher? - The company expects to evaluate opportunities for testing at TREAT and ORNL in the future, but this work is outside the scope of the current GAIN Voucher [49] Question: What led to being awarded the GAIN Voucher? - The application emphasized technical merits, energy generation economics, enhanced safety, and engagement with leading U.S. utilities [50][51] Question: What pivotal milestones are expected in the next three to five years? - The company is focused on meeting the needs of existing large reactors and exploring opportunities in small modular reactors, with government support being crucial for success [53][54] Question: When must Lightbridge provide the metallic fuel material samples for the advanced test reactor? - The goal is to have the samples available for insertion into the ATR by late 2021, subject to various factors [59] Question: Are there similar CRADA projects Lightbridge is interested in? - The company plans to procure HALEU material and fabricate samples for the ATR experiment, with ongoing interest in various testing facilities [62] Question: Would Lightbridge entertain funding opportunities from utilities? - Yes, the company is open to funding opportunities from utilities while protecting its intellectual property rights [63]