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

Quarterly report pursuant to Section 13 or 15(d)

Research and Development Costs

Research and Development Costs	6 Months Ended
Jun. 30, 2014
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 for the three month periods ended June 30, 2014 and 2013, and $1.1 million and $1.3 million for the six months ended June 30, 2014 and 2013, respectively. On August 15, 2013, Lightbridge entered into a Professional Services Agreement with a professor at Texas A&M University to continue the neutronic modeling work that was completed under Task Order No. 1 issued under our Master Research Services Agreement with Texas A&M University. The initial statement of work (SOW-1) under the Professional Services Agreement with the professor at Texas A&M University had a fixed price of $40,000 and was completed in the second quarter of 2014. The results of this work will be used to enhance our neutronic modeling capability using industry standard computer codes. In addition, we have consulting agreements with several consultants working on various projects for us, which total approximately $10,000 per month.

Research and Development Costs

6 Months Ended

Jun. 30, 2014

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 for the three month periods ended June 30, 2014 and 2013, and $1.1 million and $1.3 million for the six months ended June 30, 2014 and 2013, respectively.

On August 15, 2013, Lightbridge entered into a Professional Services Agreement with a professor at Texas A&M University to continue the neutronic modeling work that was completed under Task Order No. 1 issued under our Master Research Services Agreement with Texas A&M University. The initial statement of work (SOW-1) under the Professional Services Agreement with the professor at Texas A&M University had a fixed price of $40,000 and was completed in the second quarter of 2014. The results of this work will be used to enhance our neutronic modeling capability using industry standard computer codes.

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

- 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.

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