Quarterly report pursuant to Section 13 or 15(d)

Research and Development Costs

Research and Development Costs
3 Months Ended
Mar. 31, 2013
Research and Development Costs [Text Block]

Note 7. Research and Development Costs

Research and Development Costs

          Research and development costs, included in the accompanying consolidated statement of operations amounted to approximately $0.6 million and $0.5 million for the three month periods ended March 31, 2013 and 2012.

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 the second quarter of 2013. The TO has a fixed total price of $46,666, of which $35,000 has been paid. The balance is due upon delivery of the final report.

          In addition, we have consulting agreements with several consultants working on various projects for us, which total approximately $10,000 per month.