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Research and Development Costs
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12 Months Ended |
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Dec. 31, 2012
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| Research and Development Costs [Text Block] |
Note 10. Research and Development Costs Research and Development Costs Research and development costs, included in the accompanying consolidated statements of operations amounted to approximately $2.1 million and $2.3 million for the years ended December 31, 2012 and 2011, respectively. On September 19, 2012, Lightbridge issued Task Order No. 1 (the “TO”) under our Master Research Services Agreement with Texas A&M University. The scope of the TO includes certain neutronic modeling work to be performed by Texas A&M University for Lightbridge. The results of this work will be used to enhance our neutronic modeling capability using industry standard computer codes. All of the work under this TO is expected to be completed by March 1, 2013. The TO has a fixed total price of $46,666, of which $23,333 is due upon execution of the TO and receipt of invoice, $11,667 due on December 15, 2012, and the remaining $11,666 due the later of March 1, 2013 or delivery of the final report. As of the date hereof, $35,000 of the total amount of $46,666 due to Texas A&M University under the TO has already been paid by Lightbridge. In addition, we have consulting agreements with several consultants working on various projects for us, which total approximately $10,000 per month. |
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- Definition
The entire disclosure for research, development, and computer software activities, including contracts and arrangements to be performed for others and with federal government. Includes costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility and in-process research and development acquired in a business combination consummated during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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