$LTBR
LIGHTBRIDGE Corp

2024 Q1 Form 10-K Financial Statement

#000147793224001002 Filed on March 04, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.158M $2.078M $7.150M
YoY Change 15.64% -1.66% -4.54%
% of Gross Profit
Research & Development $1.024M $555.2K $1.923M
YoY Change 128.51% 708.77% 187.07%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $3.182M $2.633M $9.073M
YoY Change 37.49% 26.16% 11.19%
Operating Profit -$3.182M -$9.042M
YoY Change 39.36% 16.11%
Interest Expense $362.0K $263.1K $1.133M
YoY Change 41.19% 47.0% 291.43%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$2.820M -$2.370M -$7.909M
YoY Change 39.13% 24.2% 5.48%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$2.820M -$2.370M -$7.909M
YoY Change 39.13% 24.2% 5.48%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.21 -$0.19 -$0.65
COMMON SHARES
Basic Shares Outstanding 13.94M shares 12.96M shares
Diluted Shares Outstanding 13.49M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.94M $28.60M $28.60M
YoY Change -0.39% -1.04% -1.04%
Cash & Equivalents $27.94M $28.60M $28.60M
Short-Term Investments
Other Short-Term Assets $401.9K $207.1K $207.1K
YoY Change 2.14% 79.65% 79.65%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $28.34M $28.81M $28.81M
YoY Change -0.35% -0.72% -0.72%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $100.0K
YoY Change 0.0%
Long-Term Investments
YoY Change
Other Assets $479.6K $483.0K $483.0K
YoY Change 39.02% 40.0% 40.0%
Total Long-Term Assets $588.5K $591.9K $591.9K
YoY Change 29.84% 30.59% 30.59%
TOTAL ASSETS
Total Short-Term Assets $28.34M $28.81M $28.81M
Total Long-Term Assets $588.5K $591.9K $591.9K
Total Assets $28.93M $29.40M $29.40M
YoY Change 0.12% -0.24% -0.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $207.4K $86.33K $86.33K
YoY Change 17.87% -42.57% -42.57%
Accrued Expenses $700.0K $400.0K $400.0K
YoY Change 75.0% 100.0% 100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $907.4K $486.3K $486.3K
YoY Change 57.54% 38.82% 38.82%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $907.4K $486.3K $486.3K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $907.4K $486.3K $486.3K
YoY Change 57.54% 38.82% 38.82%
SHAREHOLDERS EQUITY
Retained Earnings -$155.2M -$152.4M
YoY Change 5.94% 5.47%
Common Stock $14.19K $13.70K
YoY Change 17.02% 15.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $28.03M $28.91M $28.91M
YoY Change
Total Liabilities & Shareholders Equity $28.93M $29.40M $29.40M
YoY Change 0.12% -0.24% -0.24%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$2.820M -$2.370M -$7.909M
YoY Change 39.13% 24.2% 5.48%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.878M -$2.340M -$6.485M
YoY Change 18.88% -12.01% -4.12%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $640.00
YoY Change -100.0% -90.36%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 -$640.00
YoY Change -100.0% -90.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $6.405M
YoY Change -41.91%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $1.222M 1.702M $6.184M
YoY Change 67.15% 518.62% -43.38%
NET CHANGE
Cash From Operating Activities -$1.878M -2.340M -$6.485M
Cash From Investing Activities $0.00 0.000 -$640.00
Cash From Financing Activities $1.222M 1.702M $6.184M
Net Change In Cash -$656.0K -637.5K -$301.6K
YoY Change -22.7% -73.27% -107.26%
FREE CASH FLOW
Cash From Operating Activities -$1.878M -$2.340M -$6.485M
Capital Expenditures $0.00 $640.00
Free Cash Flow -$2.340M -$6.485M
YoY Change -12.03% -4.2%

Facts In Submission

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LIGHTBRIDGE CORPORATION
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of consolidated financial statements, in conformity with accounting principles generally accepted in the United States of America (GAAP), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Estimates and assumptions are periodically reviewed and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary. There were no significant estimates at December 31, 2023 and 2022.</p>
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700000 usd
CY2022 ltbr Effective Income Tax Rate Reconciliation Federal Tax
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Assets
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CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2023 us-gaap Effective Income Tax Rate Continuing Operations
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
3700000 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
3500000 usd
CY2023 ltbr Patent Impairment Provision
PatentImpairmentProvision
300000 usd
CY2022 ltbr Patent Impairment Provision
PatentImpairmentProvision
400000 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
15000000.0 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
13600000 usd
CY2023 ltbr Research And Development Expenses Capitalized For Tax
ResearchAndDevelopmentExpensesCapitalizedForTax
500000 usd
CY2022 ltbr Research And Development Expenses Capitalized For Tax
ResearchAndDevelopmentExpensesCapitalizedForTax
100000 usd
CY2023 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
300000 usd
CY2022 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
300000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
19800000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
17900000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
19800000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
17900000 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
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CY2022Q4 us-gaap Deferred Tax Assets Net
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CY2023Q4 ltbr Net Operating Loss Carry Forward
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60000000 usd
CY2022Q4 ltbr Net Operating Loss Carry Forward
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54400000 usd
CY2023 ltbr Federal Research And Development Credit
FederalResearchAndDevelopmentCredit
300000 usd
CY2023 ltbr Federal Research And Development Expiry Period
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from 2036 to 2040
CY2023 us-gaap Valuation Allowances And Reserves Period Increase Decrease
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1900000 usd
CY2022 us-gaap Valuation Allowances And Reserves Period Increase Decrease
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2500000 usd
CY2023 ltbr Effective Income Tax Rate Reconciliation Federal Tax
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0.25 pure
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
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-1600000 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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2000000.0 usd
CY2022 us-gaap Real Estate Owned Valuation Allowance Valuation Increase
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CY2023 us-gaap Current Income Tax Expense Benefit
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CY2022 us-gaap Current Income Tax Expense Benefit
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CY2023Q4 us-gaap Common Stock Shares Outstanding
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CY2023Q4 ltbr Outstanding Restricted Stock Awards
OutstandingRestrictedStockAwards
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CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Period Increase Decrease
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecrease
510787 shares
CY2023Q4 ltbr Common Stock And All Common Stock Equivalents
CommonStockAndAllCommonStockEquivalents
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CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
11900217 shares
CY2022Q4 ltbr Outstanding Restricted Stock Awards
OutstandingRestrictedStockAwards
416316 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Period Increase Decrease
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecrease
525903 shares
CY2022Q4 ltbr Common Stock And All Common Stock Equivalents
CommonStockAndAllCommonStockEquivalents
12426120 shares
CY2021Q1 ltbr At The Market Offerings Disclosure Description
AtTheMarketOfferingsDisclosureDescription
On March 25, 2021, the Company filed a shelf registration statement on Form S-3, registering the sale of up to $75.0 million of the Company’s securities, which registration statement was declared effective on April 5, 2021 and expires on April 5, 2024. On April 4, 2023, the Company filed a prospectus supplement with the amount of the Company securities available for issuance totaling $17.9 million with $11.9 million available for future share issuances as of December 31, 2023
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
525903 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2023 ltbr Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term
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P4Y6M7D
CY2022Q4 ltbr Sharebased Compensation Shares Options Aggregate Intrinsic Value Outstanding
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4982 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
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CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
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0 shares
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0
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
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CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
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17.47
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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510787 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTermEndingFF
P3Y10M2D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
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510787 shares
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17.88
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P3Y10M2D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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498177 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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18.21
CY2023 ltbr Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term Options Exercisable
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTermOptionsExercisable
P3Y8M15D
CY2023 us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
0 usd
CY2022 us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
0 usd
CY2023 us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
200000 usd
CY2022 us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
0 usd
CY2023 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
1100000 usd
CY2022 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
800000 usd
CY2023 us-gaap Dividends Sharebased Compensation Stock
DividendsSharebasedCompensationStock
1300000 usd
CY2022 us-gaap Dividends Sharebased Compensation Stock
DividendsSharebasedCompensationStock
800000 usd
CY2023 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
1 pure
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
200000 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
100000 usd

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