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Research and Development Costs
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12 Months Ended |
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Dec. 31, 2011
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| Research and Development Costs [Text Block] |
Note 10. Research and Development Costs Research and Development Costs Research and development costs, included in the accompanying consolidated statement of operations amounted to approximately $2.3 million and approximately $1.6 million for the years ended December 31, 2011 and 2010, respectively. Total cumulative research and development expenses amounted to approximately $11.8 million from January 8, 1992 (our date of inception) to December 31, 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 was carried out under individual task orders and issued under the SOSNY Agreement. The scope, deliverables, and costs were 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 was obligated to pay to SOSNY a total of approximately $234,000 (accrued liability was approximately $24,000 at December 31, 2011, the $210,000 balance having been paid previously) for certain R&D work. As of December 31, 2011, all of the work under Task Order No. 1 was completed by SOSNY and its subcontractors. SOSNY is in the process of securing a Russian export license for the final report associated with this work. 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. |