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Lightbridge Announces 2013 First Quarter Business Update And Financial Results

Lightbridge is on Twitter. Sign up to follow @LightbridgeCorp at

Forward Looking Statements

This news release contains statements that are forward-looking in nature, including statements regarding the Company's competitive position and product and service offerings. These statements are based on current expectations on the date of this news release and involve a number of risks and uncertainties that may cause actual results to differ significantly from such estimates. The risks include, but are not limited to, the degree of market adoption of the Company's product and service offerings; market competition; dependence on strategic partners; and the Company's ability to manage its business effectively in a rapidly evolving market. Certain of these and other risks are set forth in more detail in Lightbridge's filings with the Securities and Exchange Commission. Lightbridge does not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise.

Lightbridge Corporation
Condensed Consolidated Balance Sheets
  March 31,  
  2013 December 31,
  (Unaudited) 2012
Current Assets    
 Cash and cash equivalents $ 1,082,948 $ 2,197,555
 Marketable securities 1,612,716 1,598,209
 Restricted cash 554,092 553,682
 Accounts receivable - project revenue and reimbursable project costs 418,113 601,803
 Prepaid expenses & other current assets 706,369 574,590
 Total Current Assets 4,374,238 5,525,839
Property Plant and Equipment –net 11,102 17,221
Other Assets    
 Patent costs – net 634,953 600,596
 Security deposits -- --
 Total Other Assets 634,953 600,596
Total Assets $ 5,020,293 $ 6,143,656
Current Liabilities    
 Accounts payable and accrued liabilities $ 393,619 $ 385,223
Total Current Liabilities 393,619 385,223
Commitments and contingencies    
Stockholders' Equity    
Preferred stock, $0.001 par value, 50,000,000 authorized shares, no shares issued and outstanding -- --
Common stock, $0.001par value, 500,000,000 authorized, 12,548,935 shares outstanding and 12,526,240 shares outstanding at March 31, 2013 and December 31, 2012, respectively 12,549 12,526
Additional paid in capital - stock and stock equivalents 72,105,896 71,955,631
Deficit (67,491,771) (66,212,849)
Common stock reserved for issuance, 2,264 shares at December 31, 2012 -- 3,125
Total Stockholders' Equity 4,626,674 5,758,433
Total Liabilities and Stockholders' Equity $ 5,020,293 $ 6,143,656
Lightbridge Corporation
Unaudited Condensed Consolidated Statements of Operations
  Three Months Ended
  March 31,
  2013 2012
Consulting Revenue $ 515,950 $ 1,257,521
Cost of Consulting Services Provided 284,337 769,685
Gross Margin 231,613 487,836
Operating Expenses    
General and administrative 881,778 945,362
Research and development expenses 643,273 496,708
Total Operating Expenses 1,525,051 1,442,070
Operating Loss (1,293,438) (954,234)
Other Income and (Expenses)    
Investment income 15,556 151,558
Other income (expenses) (1,040) 6,142
Total Other Income and Expenses 14,516 157,700
Net loss before income taxes (1,278,922) (796,534)
Income taxes -- --
Net loss $ (1,278,922) $ (796,534)
Net Loss Per Common Share, Basic and Diluted $ (0.10) $ (0.06)
Weighted Average Number of shares outstanding  12,529,045  12,432,282
Lightbridge Corporation
Unaudited Condensed Consolidated Statements of Cash Flows
  Three Months Ended
  March 31,
  2013 2012
Operating Activities:    
Net Loss $ (1,278,922) $ (796,534)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Stock-based compensation 147,163 350,745
Depreciation and amortization 6,119 6,166
Unrealized (gains) loss on marketable securities 3,359 (87,929)
Changes in non-cash operating working capital items:    
Accounts receivable - fees and reimbursable project costs 183,690 (648,043)
Prepaid expenses and other assets (131,779) (67,901)
Accounts payable, accrued liabilities and other current liabilities 8,396 (268,122)
Net Cash Used In Operating Activities (1,061,974) (1,511,618)
Investing Activities:    
Purchase of Marketable securities (17,866) (63,010)
Patent costs (34,357) (28,029)
Net Cash Used In Investing Activities (52,223) (91,039)
Financing Activities:    
Restricted cash (410) (549)
Net Cash Used In Financing Activities (410) (549)
Net Decrease In Cash and Cash Equivalents (1,114,607) (1,603,206)
Cash and Cash Equivalents, Beginning of Period 2,197,555 3,569,098
Cash and Cash Equivalents, End of Period $ 1,082,948 $ 1,965,892
Supplemental Disclosure of Cash Flow Information:    
Cash paid during the year:    
Interest paid $ -- $ --
Income taxes paid $ -- $ --
CONTACT: Gary Sharpe
         Investor Relations and Corporate Communications
         Lightbridge Corporation

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