Lightbridge Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Accounts Receivable -Project Revenue and Project Costs

Accounts Receivable -Project Revenue and Project Costs	9 Months Ended
Sep. 30, 2013
Accounts Receivable -Project Revenue and Project Costs [Text Block]	Note 3. Accounts Receivable - Project Revenue and Project Costs *ENEC and FANR Projects* The total accounts receivable from the ENEC and FANR contracts was approximately $0.6 million at September 30, 2013 and December 31, 2012. These amounts due from ENEC and FANR represent approximately all of the total accounts receivable reported at September 30, 2013 and December 31, 2012. Total unbilled accounts receivable included in the accompanying consolidated balance sheets and reported in accounts receivable of approximately $0.1 million and $0.2 million at September 30, 2013 and December 31, 2012 is for work that was billed to our clients in October 2013 and January 2013, respectively. Foreign currency transaction exchange gains (losses) were not significant for the three and nine months ended September 30, 2013 and 2012, respectively, which is reported in the caption “other income and expenses” on the accompanying consolidated statement of operations. Travel costs and other reimbursable costs under these contracts are reported in the accompanying statement of operations as both revenue and cost of consulting services provided, and totaled approximately $0.0 million and $0.2 million for the three month periods ended September 30, 2013 and 2012 and approximately $0.1 million and $0.4 million for the nine months ended September 30, 2013 and September 30, 2012, respectively. The total travel and other reimbursable expenses that have not been reimbursed to us and are included in total accounts receivable reported above from our consulting contracts were not significant. We expect to continue to provide strategic advisory services to ENEC and FANR and we also expect the variation of revenue we earn from these contracts to continue. Under these agreements, revenue will be recognized on a time and expense basis. We periodically discuss our consulting work with ENEC and FANR, who review the work we perform and our reimbursable travel expenses, and accept our monthly invoicing for services and reimbursable expenses.

Accounts Receivable -Project Revenue and Project Costs

9 Months Ended

Sep. 30, 2013

Accounts Receivable -Project Revenue and Project Costs [Text Block]

Note 3. Accounts Receivable - Project Revenue and Project Costs

ENEC and FANR Projects

The total accounts receivable from the ENEC and FANR contracts was approximately $0.6 million at September 30, 2013 and December 31, 2012. These amounts due from ENEC and FANR represent approximately all of the total accounts receivable reported at September 30, 2013 and December 31, 2012.

Total unbilled accounts receivable included in the accompanying consolidated balance sheets and reported in accounts receivable of approximately $0.1 million and $0.2 million at September 30, 2013 and December 31, 2012 is for work that was billed to our clients in October 2013 and January 2013, respectively. Foreign currency transaction exchange gains (losses) were not significant for the three and nine months ended September 30, 2013 and 2012, respectively, which is reported in the caption “other income and expenses” on the accompanying consolidated statement of operations.

Travel costs and other reimbursable costs under these contracts are reported in the accompanying statement of operations as both revenue and cost of consulting services provided, and totaled approximately $0.0 million and $0.2 million for the three month periods ended September 30, 2013 and 2012 and approximately $0.1 million and $0.4 million for the nine months ended September 30, 2013 and September 30, 2012, respectively. The total travel and other reimbursable expenses that have not been reimbursed to us and are included in total accounts receivable reported above from our consulting contracts were not significant.

We expect to continue to provide strategic advisory services to ENEC and FANR and we also expect the variation of revenue we earn from these contracts to continue. Under these agreements, revenue will be recognized on a time and expense basis. We periodically discuss our consulting work with ENEC and FANR, who review the work we perform and our reimbursable travel expenses, and accept our monthly invoicing for services and reimbursable expenses.