The Company invested approximately $5.6 million in Enfission from Enfission’s date of inception on January 24, 2018 to December 31, 2018. The Company entered into a management and administrative services agreement with Enfission on January 25, 2018 whereby the Company provides four of its personnel to Enfission, at a rate of $100,000 per person per year, for a total charge to Enfission of $400,000 in 2018. This $400,000 amount charged to Enfission was recorded as a $200,000 reduction of general and administrative expenses and a $200,000 reduction of research and development expenses.

The Company also provided research and development consulting services and management services to Enfission. The total consulting services was $1.1 million for the year ended December 31, 2018, recorded under the caption “Other income from joint venture” in the accompanying consolidated statement of operations. As of December 31, 2018, the total receivable due from Enfission was approximately $0.1 million, which represents consulting fees Lightbridge charged to Enfission and reimbursable expenses paid by Lightbridge on Enfission’s behalf.