| | Publié le 10 mai 2012 | Announces 2012 First Quarter Business Update and Financial Results |
|
Article
|
Commentaires
|
Commenter
|
Notation
|
♥
Suivre la société
|
|
Lightbridge
Announces 2012 First Quarter Business Update and Financial Results
Live Conference Call and Webcast Scheduled at 11 a.m. EDT Today at:
http://www.videonewswire.com/event.asp?id=86945
MCLEAN, Va., May 10, 2012 /PRNewswire/
-- Lightbridge Corporation (NASDAQ: LTBR), a leading innovator of
next generation nuclear fuel designs and provider of nuclear energy consulting
services to commercial and governmental organizations, today provided a
business update on the progress of its nuclear fuel technology and consulting
operations and reported financial results for the quarter ended March 31, 2012.
"We continue to log steady,
incremental progress in our march toward bringing next generation nuclear fuel
designs to market," said Seth Grae, Lightbridge President and Chief
Executive Officer. "In addition, our advisory services division is
pursuing new consulting opportunities as global interest renews in nuclear
energy as a source of long-term, efficient, base-load and carbon-free electric
power."
Mr. Grae said ongoing demonstrations of
Lightbridge fuel technology continue to support the indicated benefits of
meaningful power uprates, longer fuel cycles and increased safety.
"During the quarter, we began contract negotiations with Rosatom's
entities relating to fabrication of fuel samples for loop irradiation testing
in the MIR research reactor in Dimitrovgrad, Russia," he
said. "We expect this irradiation experiment to commence next year
and generate fuel performance data over the ensuing 2.5 years in a test reactor
environment prototypic of operating conditions found in a commercial
pressurized water reactor. This fuel performance data is a key milestone
necessary for regulatory licensing of our lead test assembly demonstrations in
a commercial pressurized water reactor planned to begin in 2017."
Financial Results
Revenue for the first quarter ended March
31, 2012 was $1.3 million, compared to $1.6 million for the same period of
2011. Operating loss for the 2012 quarter was $0.8 million, versus an
operating loss of $1.6 million in the comparable period a year ago.
Lightbridge revenues are derived primarily from consulting and strategic
advisory services for foreign governments planning to create or expand
electricity generation capabilities using nuclear power plants, and are used to
help fund the continuing development of the Company's nuclear fuel
technologies. Revenues were primarily generated from contracts in place
with government entities in the United Arab Emirates.
Balance Sheet Overview
At March 31 2012, the Company had
approximately $7.8 million in cash and cash equivalents, restricted cash and
marketable securities, and approximately $7.7 million of working capital, with
no long term debt. Stockholders' equity was approximately $8.4 million at
March 31, 2012 compared with $8.8 million on December 31, 2011. Common
shares outstanding at March 31, 2012 totaled 12,464,766.
2012 First Quarter Conference Call
Lightbridge will host a conference call on
Thursday, May 10, at 11 a.m. EDT to discuss the Company's 2012 first quarter
results and provide an update on recent corporate developments. Seth
Grae, President and Chief Executive Officer, will lead the call and additional
members of the senior management team will be available to answer
questions. Please submit questions for Lightbridge executive management
in writing before or during the conference call to ir@ltbridge.com. All questions will be read aloud
and answered during the call.
Date: Thursday, May 10, 2012
Time: 11 a.m. EDT
Domestic Call-In: 1-800-860-2442
International Call-In: 1-412-858-4600
Canada Call-In: 866-605-3852
Live Webcast: http://www.videonewswire.com/event.asp?id=86945. Approximately one hour after the
live event, an archived webcast will be available at this same URL.
Audio Replay: Available one hour after the conference through 9 a.m. May
18, 2012. Domestic call-in: 877-344-7529; international
call-in: 412-317-0088. Conference # 10013656.
About Lightbridge Corporation
Lightbridge is a US nuclear energy company
based in McLean, Virginia with operations in Abu Dhabi, Moscow and
London. The Company develops proprietary, proliferation resistant, next
generation nuclear fuel technologies for current and future nuclear reactor
systems. The Company also provides comprehensive advisory services for
established and emerging nuclear programs based on a philosophy of
transparency, non-proliferation, safety and operational excellence.
Lightbridge's breakthrough fuel technology is establishing new global standards
for safe and clean nuclear power and leading the way to a sustainable energy
future. Lightbridge consultants provide integrated strategic advice and
expertise across a range of disciplines including regulatory affairs, nuclear
reactor procurement and deployment, reactor and fuel technology and
international relations. The Company leverages those broad and integrated
capabilities by offering its services to commercial entities and gove rnments
with a need to establish or expand nuclear industry capabilities and infrastructure.
Lightbridge is on Twitter. Sign up
to follow @LightbridgeCorp at http://twitter.com/lightbridgecorp.
Forward Looking Statement
This news release contains statements that
are forward-looking in nature, including statements regarding the Company's
competitive position and product and service offerings. These statements
are based on current expectations on the date of this news release and involve
a number of risks and uncertainties that may cause actual results to differ
significantly from such estimates. The risks include, but are not limited
to, the degree of market adoption of the Company's product and service
offerings; market competition; dependence on strategic partners; and the
Company's ability to manage its business effectively in a rapidly evolving
market. Certain of these and other risks are set forth in more detail in
Lightbridge's filings with the Securities and
Exchange Commission.
Lightbridge does not assume any obligation to update or revise any such forwa
rd-looking statements, whether as the result of new developments or otherwise.
CONTACT:
Gary Sharpe
Investor Relations
Lightbridge Corporation
571-730-1213
gsharpe@ltbridge.com
Lightbridge Corporation
|
Condensed Consolidated Balance Sheets
|
|
|
|
|
|
|
|
March 31,
|
|
|
|
|
2012
|
|
December 31,
|
|
|
(Unaudited)
|
|
2011
|
ASSETS
|
|
|
|
|
|
|
|
|
|
Current Assets
|
|
|
|
|
Cash
and cash equivalents
|
$
|
1,965,892
|
$
|
3,569,098
|
Marketable securities
|
|
5,297,762
|
|
5,146,823
|
Restricted cash
|
|
552,432
|
|
551,883
|
Accounts receivable - project
revenue and reimbursable project costs
|
|
925,254
|
|
277,211
|
Prepaid expenses & other
current assets
|
|
377,759
|
|
269,697
|
Total Current Assets
|
|
9,119,099
|
|
9,814,712
|
|
|
|
|
|
Property Plant and Equipment -net
|
|
40,348
|
|
46,514
|
|
|
|
|
|
Other Assets
|
|
|
|
|
Patent
costs - net
|
|
565,104
|
|
537,075
|
Security deposits
|
|
80,324
|
|
120,486
|
Total Other Assets
|
|
645,428
|
|
657,561
|
|
|
|
|
|
Total Assets
|
$
|
9,804,875
|
$
|
10,518,787
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS EQUITY
|
|
|
|
|
|
|
|
|
|
Current
Liabilities
|
|
|
|
|
Accounts payable and accrued
liabilities
|
$
|
1,412,311
|
$
|
1,680,433
|
Total Current
Liabilities
|
|
1,412,311
|
|
1,680,433
|
|
|
|
|
|
Commitments and
contingencies
|
|
|
|
|
|
|
|
|
|
Stockholders'
Equity
|
|
|
|
|
Preferred stock, $0.001 par value, 50,000,000
authorized shares, no shares issued and outstanding
|
-
|
|
-
|
Common stock, $0.001par value, 500,000,000
authorized, 12,500,360 shares issued, 12,464,766 shares outstanding and
12,476,414 shares issued, 12,427,220 shares outstanding at March
31, 2012 and December 31, 2011, respectively
|
|
12,465
|
|
12,427
|
Additional paid in capital - stock and stock
equivalents
|
|
71,329,282
|
|
70,946,951
|
Deficit
|
|
(62,952,308)
|
|
(62,155,774)
|
Common stock reserved for issuance, 977
shares and 17,120 shares at March 31, 2012 and December 31, 2011,
respectively
|
|
3,125
|
|
34,750
|
Total
Stockholders' Equity
|
|
8,392,564
|
|
8,838,354
|
|
|
|
|
|
Total Liabilities and
Stockholders' Equity
|
$
|
9,804,875
|
$
|
10,518,787
|
|
|
|
|
|
Lightbridge Corporation
|
Unaudited
Condensed Consolidated Statements of Operations
|
|
|
|
Three Months Ended
|
|
|
March 31,
|
|
|
2012
|
|
2011
|
Revenue:
|
|
|
|
|
|
|
|
|
|
Consulting
Revenue
|
$
|
1,257,521
|
$
|
1,578,094
|
|
|
|
|
|
Cost of Consulting Services
Provided
|
|
769,685
|
|
1,093,019
|
|
|
|
|
|
Gross
Margin
|
|
487,836
|
|
485,075
|
|
|
|
|
|
Operating
Expenses
|
|
|
|
|
General and
administrative
|
|
945,362
|
|
1,727,186
|
Research and
development expenses
|
|
496,708
|
|
499,640
|
Total
Operating Expenses
|
|
1,442,070
|
|
2,226,826
|
|
|
|
|
|
|
|
(954,234)
|
|
(1,741,751)
|
|
|
|
|
|
Other
Income and (Expenses)
|
|
|
|
|
Investment income
|
|
151,558
|
|
105,822
|
Other income
(expenses)
|
|
6,142
|
|
(2,810)
|
Total Other Income and Expenses
|
|
157,700
|
|
103,012
|
|
|
|
|
|
Net loss before income taxes
|
|
(796,534)
|
|
(1,638,739)
|
|
|
|
|
|
Income
taxes
|
|
0
|
|
0
|
|
|
|
|
|
Net
loss
|
$
|
(796,534)
|
$
|
(1,638,739)
|
|
|
|
|
|
|
|
|
|
|
Net Loss Per Common Share, Basic
and diluted
|
$
|
(0.06)
|
$
|
(0.13)
|
Weighted Average Number of shares
outstanding
|
|
12,432,282
|
|
12,353,251
|
|
|
|
|
|
|
|
|
|
|
Lightbridge Corporation
|
Unaudited
Condensed Consolidated Statements of Cash Flows
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
March 31
|
|
|
2012
|
|
2011
|
Operating
Activities:
|
|
|
|
|
Net Loss
|
$
|
(796,534)
|
$
|
(1,638,739)
|
Adjustments to reconcile net loss from
operations to net cash used in operating activities:
|
|
|
|
|
Stock based
compensation
|
|
350,745
|
|
404,377
|
Depreciation and
amortization
|
|
6,166
|
|
7,297
|
Unrealized (gains) loss on marketable
securities
|
|
(87,929)
|
|
37,756
|
Changes in non-cash operating working capital
items:
|
|
|
|
|
Accounts receivable - fees and reimburseable
project costs
|
|
(648,043)
|
|
85,597
|
Prepaid expenses and other assets
|
|
(67,901)
|
|
(830,610)
|
Accounts payable, accrued liabilities and
other current liabilities
|
|
(268,122)
|
|
(188,061)
|
Deferred revenue
|
|
0
|
|
837,130
|
Net Cash Used In Operating Activities
|
|
(1,511,618)
|
|
(1,285,253)
|
|
|
|
|
|
Investing
Activities:
|
|
|
|
|
Proceeds from the sale of marketable
securities
|
|
0
|
|
1,949,893
|
Purchase of
Marketable securities
|
|
(63,010)
|
|
0
|
Property and
equipment
|
|
0
|
|
(1,540)
|
Patent costs
|
|
(28,029)
|
|
(21,877)
|
Net Cash Provided By (Used In) Investing
Activities
|
|
(91,039)
|
|
1,926,476
|
|
|
|
|
|
Financing
Activities:
|
|
|
|
|
Restricted cash
|
|
(549)
|
|
(283)
|
Net Cash Used In Financing Activities
|
|
(549)
|
|
(283)
|
|
|
|
|
|
Net Increase (Decrease) In Cash and Cash
Equivalents
|
|
(1,603,206)
|
|
640,940
|
|
|
|
|
|
Cash and Cash
Equivalents, Beginning of Year
|
|
3,569,098
|
|
2,373,421
|
|
|
|
|
|
Cash and Cash
Equivalents, End of Year
|
$
|
1,965,892
|
$
|
3,014,361
|
|
|
|
|
|
Supplemental
Disclosure of Cash Flow Information:
|
|
|
|
|
Cash paid during
the year:
|
|
|
|
|
Interest paid
|
$
|
0
|
$
|
0
|
Income taxes paid
|
$
|
0
|
$
|
0
|
SOURCE Lightbridge Corporation
|
Lightbridge Corp
|
|
|
CODE : LTBR |
|
|
| |
ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Lightbridge est une société de production minière d'uranium basée aux Etats-Unis D'Amerique. Lightbridge est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 28,4 millions US$ (24,9 millions €). La valeur de son action a atteint son plus bas niveau récent le 17 juin 2016 à 0,35 US$, et son plus haut niveau récent le 05 novembre 2021 à 9,98 US$. Lightbridge possède 9 620 000 actions en circulation. |
Rapports annuels de Lightbridge Corp |
Nominations de Lightbridge Corp |
Rapports Financiers de Lightbridge Corp |
Communiqués de Presse en Français de Lightbridge Corp |
Communiqués de Presse de Lightbridge Corp |
Publication de commentaires terminée |
|
|