Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

v3.20.2
Related Party Transactions
9 Months Ended
Sep. 30, 2020
Related Party Transactions  
Note 8. Related Party Transactions

Enfission was inactive at September 30, 2020 and December 31, 2019. The Company did not invest in Enfission during the nine months ended September 30, 2020 and invested approximately $9.2 million in Enfission from Enfission’s date of inception of January 24, 2018 to December 31, 2019.

 

The Company did not charge Enfission an administrative and management services fee for the three months and nine months ended September 30, 2020. The total administrative consulting services was $0.1 million and  $0.3 million for the three months and nine months ended September 30, 2019, respectively. For the three months ended September 30, 2019, the $0.1 million amount charged was recorded as a $50,000 reduction of general and administrative expenses and a $50,000 reduction of research and development expenses. For the nine months ended September 30, 2019, the $0.3 million amount charged was recorded as a $150,000 reduction of general and administrative expenses and a $150,000 reduction of research and development expenses.

 

The Company did not provide Enfission with any research and development consulting services for the three months and nine months ended September 30, 2020. The Company provided research and development consulting services and management services to Enfission in 2019. The total consulting services income was $0.2 million and $0.9 million for the three months and nine months ended September 30, 2019, respectively, recorded under “Other income from joint venture” in the accompanying condensed consolidated statement of operations.

 

As of September 30, 2020, there was no receivable due from Enfission. At December 31, 2019, the total receivable due from Enfission was approximately $0.4 million, which represented management and administrative services Lightbridge charged to Enfission for the year ended December 31, 2019.