Lightbridge Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Dec. 31, 2022
Commitments and Contingencies
Commitments And Contingencies	Note 5. Commitments and Contingencies Commitments *Operating Leases* The Company leased office space for a 12-month term from January 1, 2023 through December 31, 2023 with a monthly payment of approximately $8,000. The future minimum lease payments required under the Company’s non-cancellable operating leases for 2023 total approximately $0.1 million. Total rent expense for the year ended December 31, 2022 and 2021 was approximately $0.1 million. *Project Task Statements (Purchase Orders)* For the year ended December 31, 2022, the Company had approximately $3.4 million in outstanding project task statement obligations to BEA relating to the research and development being conducted under the Strategic Partnership Project Agreement and Cooperative Research and Development Agreement at INL (see Note 6. Research and Development Costs).

Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies

Commitments And Contingencies

Note 5. Commitments and Contingencies

Commitments

Operating Leases

The Company leased office space for a 12-month term from January 1, 2023 through December 31, 2023 with a monthly payment of approximately $8,000. The future minimum lease payments required under the Company’s non-cancellable operating leases for 2023 total approximately $0.1 million. Total rent expense for the year ended December 31, 2022 and 2021 was approximately $0.1 million.

Project Task Statements (Purchase Orders)

For the year ended December 31, 2022, the Company had approximately $3.4 million in outstanding project task statement obligations to BEA relating to the research and development being conducted under the Strategic Partnership Project Agreement and Cooperative Research and Development Agreement at INL (see Note 6. Research and Development Costs).