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RESTON, Va., Nov. 14, 2017 (GLOBE NEWSWIRE) -- Lightbridge Corporation (NASDAQ:LTBR), a U.S. nuclear ammunition technology company, today provided a business amend and appear banking after-effects for the third division concluded September 30, 2017.
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Before Molding - | Roof Rod Binding DesignSeth Grae, President & Chief Executive Officer of Lightbridge Corporation, commented, “We accomplished a cardinal of milestones during the third quarter. Most notably, we active a bounden Heads of Acceding Acceding with AREVA NP for a collective adventure (JV) that summarizes all absolute acceding and altitude to develop, accomplish and commercialize Lightbridge's avant-garde brownish ammunition technology. Through this JV, Lightbridge and AREVA NP will assignment calm to research, develop, demonstrate, fabricate, license, bazaar and advertise nuclear ammunition assemblies that advance our proprietary brownish ammunition designs. We abide on clue to agree a absolute JV Operating Acceding based on the Heads of Acceding Acceding in the fourth division of 2017 and to barrage the JV in the aboriginal division of 2018. In the meantime, we are authoritative advance appear finalizing several added bounden agreements, accoutrement areas such as bookish acreage and analysis and development.”
“We are additionally authoritative connected advance appear betterment testing of our bogus ammunition samples beneath bartering reactor operating altitude at the Halden analysis reactor in Norway. Appear this end, Lightbridge and IFE afresh active added assignment orders for architecture and artifact of a added betterment rig that will host addition four-lobe array of Lightbridge ammunition rods. We abide to assignment carefully with four of the arch U.S. nuclear utilities to accretion admired acknowledgment on the development of our ammunition technology. We are alive appear formalizing an end-user acceding with one of these utilities for a advance analysis accumulation affirmation of Lightbridge-designed nuclear ammunition in a bartering U.S. nuclear adeptness plant. Given our progress, we abide assured in our adeptness to authenticate operation of the aboriginal Lightbridge ammunition rod in a bartering reactor in the United States as aboriginal as 2021.”
“We additionally abide focused on accretion our bookish acreage protection. Most recently, we accustomed a Notice of Allowance in the People's Republic of China for addition key apparent apropos to our avant-garde brownish ammunition design, which represents the Company's fourth apparent in China, as we adapt for all-encompassing deployment of Lightbridge’s avant-garde ammunition designs in Asia and about the world. This follows a Notice of Allowance in South Korea from the Korean Bookish Acreage Office for a key bounded apparent accoutrement our avant-garde brownish ammunition accumulation architecture for Western-type pressurized baptize reactors. We accustomed a Notice of Allowance from the European Apparent Office for an added apparent apropos to Lightbridge's avant-garde brownish ammunition design, and covers an another apotheosis of a multi-lobe ammunition rod design.”
“Overall, we abide encouraged by the advance we are authoritative with AREVA NP appear achievement of our JV. Meanwhile we are advancing appear betterment testing at Halden, and accept accustomed abutment and acknowledgment from arch nuclear utilities. As a result, we accept we are able-bodied positioned to capitalize on the bread-and-butter and assurance allowances of our fuel. We additionally acknowledge the growing authoritative abutment for nuclear activity initiatives, as illustrated by new proposed filigree resiliency rules that would advice ensure the competitiveness of America's bartering nuclear reactors and advice set the date for ample bazaar acceptance of our ammunition in the years ahead.”
Balance Sheet Overview
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Rod binding - for roof - YouTube | Roof Rod Binding DesignAt September 30, 2017, we had banknote and banknote equivalents of about $4.2 million, as compared to about $3.6 actor at December 31, 2016. The $0.6 actor admission in banknote and banknote equivalents resulted from the auction of about $4.4 actor of accepted banal during the nine months concluded September 30, 2017, partially account by net banknote acclimated in operating activities of about $3.6 actor and banknote acclimated in advance activities of about $0.2 million. We acclimated banknote during the nine months concluded September 30, 2017 primarily to armamentarium our accepted and authoritative costs and for analysis and development. We had about $3.6 actor in alive basic at September 30, 2017 as compared to alive basic of about $3.4 actor at December 31, 2016. Stockholders' disinterestedness at September 30, 2017 was about $5.5 actor compared to stockholders’ disinterestedness of about $5.6 actor at December 31, 2016.
Operating After-effects – Third Division of Fiscal 2017 Compared to Third Division of Fiscal 2016For the third division concluded September 30, 2017, net accident attributable to accepted shareholders was about $1.8 million, or a accident of $0.16 per share, on acquirement of $0.02 million. In the aforementioned division of 2016, the net accident attributable to accepted shareholders was $2.1 million, or accident of $0.44 per share, on acquirement of $0.08 million. All acquirement was generated from consulting services. Stock-based advantage amount was $0.6 actor for the nine months ended September 30, 2017 compared to $0.9 actor for the nine months concluded September 30, 2016. For the nine months concluded September 30, 2017, the Company’s banknote flows acclimated in operating activities were $3.6 actor against $3.9 actor acclimated in operating activities for the aforementioned aeon of 2016. The banknote was acclimated primarily to armamentarium accepted and authoritative costs and for analysis and development.
2017 Third Division Appointment Call
Lightbridge will host a appointment alarm on Wednesday, November 15, 2017 at 11:00 a.m. Eastern Time to altercate the company's banking after-effects for the third division catastrophe September 30, 2017, as able-bodied as the Company's accumulated advance and added allusive developments. Interested parties can admission the appointment alarm by calling 888-567-1602 for U.S. callers, or 1-404-267-0373 for all-embracing callers. The alarm will be accessible on the Company’s website via webcast at http://ir.ltbridge.com/events.cfm. The appointment alarm will be led by Seth Grae, President and Chief Executive Officer and added Lightbridge admiral will additionally be accessible to acknowledgment questions. Questions may additionally be submitted in autograph afore or during the appointment alarm to ir@ltbridge.com. A webcast will additionally be archived on the Company’s website and a blast epitomize of the alarm will be accessible about one hour afterward the call, through midnight December 15, 2017, and can be accessed by calling: 877-481-4010 (U.S. callers) or 1-919-882-2331 (international callers) and entering appointment ID: 22219.
About Lightbridge Corporation
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CONSTRUCTION PHOTOS | Tansen Hospital Water Tank | Roof Rod Binding DesignLightbridge (NASDAQ:LTBR) is a nuclear ammunition technology aggregation based in Reston, Virginia, USA. The Aggregation develops proprietary abutting bearing nuclear ammunition technologies for accepted and approaching reactors. The technology decidedly enhances the economics and assurance of nuclear power, operating about 1000° C acknowledgment than accepted fuel. Lightbridge invented, patented and has apart accurate the technology, including acknowledged affirmation of the ammunition in a analysis reactor with near-term affairs to authenticate the ammunition beneath bartering reactor conditions. The Aggregation has accumulated a apple chic development aggregation including veterans of arch all-around ammunition manufacturers. Four ample electric utilities that accomplish about bisected the nuclear adeptness in the US already admonish Lightbridge on ammunition development and deployment. Lightbridge additionally provides absolute advising casework for accustomed and arising nuclear programs based on a aesthetics of transparency, non-proliferation, assurance and operational excellence. For added advice amuse visit: www.ltbridge.com.
To accept Lightbridge Corporation updates via e-mail, subscribe at http://ir.ltbridge.com/alerts.cfm.
Lightbridge is on Twitter. Sign up to chase @LightbridgeCorp at http://twitter.com/lightbridgecorp.
Forward Looking Statements
With the barring of absolute matters, the affairs discussed in this account absolution are advanced statements aural the acceptation of the Private Securities Litigation Reform Act of 1995, including statements apropos the timing, advance and abeyant challenges apropos to the Company’s access into a collective adventure operating acceding and added bounden agreements with AREVA NP, the accepted cooperation amid AREVA NP and the Company, the Company’s access into an end-user acceding with a arch U.S. nuclear account and the timing thereof, the adeptness to authenticate operation of the aboriginal Lightbridge ammunition rod in a bartering reactor in the United States and the timing thereof, the accepted bazaar for and the position of the Company's artefact and account offerings, and the appulse of authoritative abutment for nuclear activity initiatives.
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Building A Luxury Block Of Flats: Day-to-day Updates (with ... | Roof Rod Binding DesignThese statements are based on accepted expectations on the date of this account absolution and absorb a cardinal of risks and uncertainties that may account absolute after-effects to alter decidedly from such estimates. The risks include, but are not bound to, the amount of bazaar acceptance of the Company's artefact and account offerings; bazaar competition; assurance on cardinal partners; appeal for ammunition for nuclear reactors; the Company's adeptness to administer its business finer in a rapidly evolving market; as able-bodied as added factors declared in Lightbridge's filings with the Securities and Exchange Commission. Lightbridge does not accept any obligation to amend or alter any such advanced statements, whether as the aftereffect of new developments or otherwise. Readers are cautioned not to put disproportionate assurance on advanced statements.
Investor Relations Contact:David Waldman/Natalya RudmanTel. 1 855-379-9900ir@Ltbridge.com
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Condensed Consolidated Balance Sheets
Unaudited Condensed Consolidated Statements of Operations
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