Research and Development Costs |
9 Months Ended |
|---|---|
Sep. 30, 2011 | |
| Research and Development Costs [Text Block] |
Note 7. Research and Development Costs Research Costs Research and development costs, included in the accompanying consolidated statement of operations amounted to approximately $0.6 million for the three months ended September 30, 2011 and 2010, and approximately $1.7 million and $1.1 million for the nine months ended September 30, 2011 and 2010, respectively. Total cumulative research and development expenses amounted to approximately $11.2 million from January 8, 1992 (our date of inception) to September 30, 2011. Research Agreements In October 2009 we entered into an umbrella agreement, or the SOSNY Agreement, with Russian Limited Liability Research and Development Company, or SOSNY, to manage certain of our research and development activities in Russia for Russian designed VVER-1000 reactors. Specific work is being carried out under individual task orders to be issued under the SOSNY Agreement. The scope, deliverables, and costs are to be agreed to between the parties for each individual task order. On June 17, 2010, Thorium Power Inc. (TPI, wholly owned subsidiary of Lightbridge Corporation) entered into Task Order No. 1 with SOSNY whereby TPI is obligated to pay to SOSNY a total of approximately $234,000 (accrued liability was approximately $24,000 at September 30, 2011, the $210,000 balance having been paid previously) for certain R&D work to be completed and all deliverables to be submitted to TPI by September 30, 2011. As of September 30, 2011, all of the work under Task Order No. 1 was completed by SOSNY and its subcontractors. In addition to the above agreements, there are consulting agreements with several consultants working on various projects for us, which total approximately $10,000 per month. |