<SEC-DOCUMENT>0001062993-15-005504.txt : 20151019
<SEC-HEADER>0001062993-15-005504.hdr.sgml : 20151019
<ACCEPTANCE-DATETIME>20151019164954
ACCESSION NUMBER:		0001062993-15-005504
CONFORMED SUBMISSION TYPE:	S-1
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20151019
DATE AS OF CHANGE:		20151019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LIGHTBRIDGE Corp
		CENTRAL INDEX KEY:			0001084554
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
		IRS NUMBER:				911975651
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-1
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-207507
		FILM NUMBER:		151164741

	BUSINESS ADDRESS:	
		STREET 1:		1600 TYSONS BOULEVARD
		STREET 2:		SUITE 550
		CITY:			MCLEAN,
		STATE:			VA
		ZIP:			22102
		BUSINESS PHONE:		703.918.4904

	MAIL ADDRESS:	
		STREET 1:		1600 TYSONS BOULEVARD
		STREET 2:		SUITE 550
		CITY:			MCLEAN,
		STATE:			VA
		ZIP:			22102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Thorium Power, Ltd
		DATE OF NAME CHANGE:	20061011

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NOVASTAR RESOURCES LTD.
		DATE OF NAME CHANGE:	20051011

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NOVASTAR RESOURCES LTD
		DATE OF NAME CHANGE:	20050829
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-1
<SEQUENCE>1
<FILENAME>forms1.htm
<DESCRIPTION>FORM S-1
<TEXT>
<HTML>
<HEAD>
   <TITLE>Lightbridge Corp.: Form S-1 - Filed by newsfilecorp.com</TITLE>
</HEAD>
<BODY style="font-size:10pt;">
<HR noshade align="center" width=100% size=3 color="black">
<A name=page_1></A>
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt" bordercolor="#111111" width="100%">
  <tr>
    <td width="100%">
    <p align="center">As filed with the Securities and Exchange Commission on
    October 19, 2015 </td>
  </tr>
  <tr>
    <td width="100%">&nbsp;</td>
  </tr>
  <tr>
    <td width="100%">
    <div style="border-bottom-style: double; border-bottom-width: 3; padding-bottom: 1">
      <p align="right">Registration Statement No.&nbsp;&nbsp;&nbsp; </div>
    </td>
  </tr>
</table>
<P align=center><B><FONT size=5>UNITED STATES</FONT></B><BR><B><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION</FONT></B><BR><B>WASHINGTON, D.C.
20549<br>
___________________________________</B></P>
<P align=center><B><FONT size=5>FORM S-1</FONT></B><BR><B>REGISTRATION
STATEMENT</B><BR><B><I>UNDER</I></B><BR><B><I>THE SECURITIES ACT OF
1933<br>
</I>___________________________________</B></P>
<P align=center><B><FONT size=5>LIGHTBRIDGE
CORPORATION</FONT></B><BR>(Exact name of registrant as specified in its
charter)<br>
<B>___________________________________</B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center><B><U>Nevada </U></B></TD>
    <TD align=center width="33%"><B><U>1000 </U></B></TD>
    <TD align=center width="33%"><B><U>91-1975651 </U></B></TD></TR>
  <TR vAlign=top>
    <TD align=center>(State or other jurisdiction of </TD>
    <TD align=center width="33%">(Primary Standard Industrial </TD>
    <TD align=center width="33%">(I.R.S. Employer </TD></TR>
  <TR vAlign=top>
    <TD align=center>incorporation or organization) </TD>
    <TD align=center width="33%">Classification Code Number) </TD>
    <TD align=center width="33%">Identification Number) </TD></TR></TABLE>
<P align=center><B>___________________________________</B></P>
<P align=center><B>1600 Tysons Boulevard, Suite 550</B><BR><B>McLean, VA
22102</B><BR><B>(571) 730-1200</B><BR>(Address, including zip code, and
telephone number, including area code, of registrant&#146;s principal executive
offices)</P><B>
<P align=center>___________________________________</P></B>
<P align=center><B>Seth Grae</B><BR><B>President and CEO</B><BR><B>Lightbridge
Corporation</B><BR><B>1600 Tysons Boulevard, Suite 550</B><BR><B>McLean,
Virginia 22102</B><BR><B>(571) 730-1200 </B><BR>(Name, address, including zip
code, and telephone number, including area code, of agent for
service)<B><I><br>
___________________________________</I></B></P>
<P align=center><B><I>Copy to:</I></B><BR><B>David R. Crandall</B><BR><B>Hogan
Lovells US LLP</B><BR><B>1200 Seventeenth Street, Suite 1500</B><BR><B>Denver,
Colorado 80202</B><BR><B>(303) 899-7300 <br>
___________________________________</B></P>
<P align=left><B>Approximate date of commencement of proposed sale to the
public: </B>As soon as practicable after this registration statement becomes
effective.<B> </B></P>
<P align=left>If any of the securities being registered on this Form are to be
offered on a delayed or continuous basis pursuant to Rule 415 under the
Securities Act of 1933 check the following box:[X] </P>
<P align=justify>If this Form is filed to register additional securities for an
offering pursuant to Rule 462(b) under the Securities Act, please check the
following box and list the Securities Act registration statement number of the
earlier effective registration statement for the same offering.[&nbsp;&nbsp;&nbsp;] </P>
<P align=justify>If this Form is a post-effective amendment filed pursuant to
Rule 462(c) under the Securities Act, check the following box and list the
Securities Act registration statement number of the earlier effective
registration statement for the same offering.[&nbsp;&nbsp;&nbsp;] </P>
<P align=justify>If this Form is a post-effective amendment filed pursuant to
Rule 462(d) under the Securities Act, check the following box and list the
Securities Act registration statement number of the earlier effective
registration statement for the same offering.[&nbsp;&nbsp;&nbsp;] </P>
<P align=justify>Indicate by check mark whether the registrant is a large
accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller
reporting company. See the definitions of &#147;large accelerated filer,&#148;
&#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule 12b-2 of the
Exchange Act.</P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left valign="bottom" nowrap>Large accelerated filer </TD>
    <TD align=left width="5%" valign="bottom" nowrap>[&nbsp;&nbsp;&nbsp;] </TD>
    <TD align=left width="24%" valign="bottom" nowrap>&nbsp; </TD>
    <TD align=left width="24%" valign="bottom" nowrap>
    <p style="margin-left: 5">Accelerated filer </TD>
    <TD align=left width="24%" valign="bottom">[&nbsp;&nbsp;&nbsp;] </TD></TR>
  <TR vAlign=top>
    <TD align=left valign="bottom" nowrap>Non-accelerated filer </TD>
    <TD align=left width="5%" valign="bottom" nowrap>[&nbsp;&nbsp;&nbsp;] </TD>
    <TD align=left width="24%" valign="bottom" nowrap>&nbsp;</TD>
    <TD align=left width="24%" valign="bottom" nowrap>
    <p style="margin-left: 5">Smaller reporting company </TD>
    <TD align=left width="24%" valign="bottom">[X] </TD></TR>
  <TR vAlign=top>
    <TD colspan="3" align=left valign="bottom" nowrap>(Do not check if a smaller reporting company) </TD>
    <TD align=left valign="bottom" nowrap>&nbsp;</TD>
    <TD align=left valign="bottom">&nbsp;</TD>
  </TR>
</TABLE>
</DIV>
<p align="center"><B>___________________________________</B><BR>
</p>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_2></A>
<P align=center><B>CALCULATION OF REGISTRATION FEE</B></P>
<DIV>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 3px double; BORDER-LEFT: #000000 0px solid; BORDER-BOTTOM: #000000 1px solid"
    noWrap align=center><B>Title of Each Class of Securities</B>
      <BR><B>to be Registered</B> </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 3px double; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    noWrap align=center width="20%"><B>Amount to be</B>
      <BR><B>Registered(1)</B> </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 3px double; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    noWrap align=center width="20%"><B>Proposed Maximum</B>
      <BR><B>Offering Price Per Unit(2)</B> </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-TOP: #000000 3px double; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    noWrap align=center width="20%"><B>Proposed Maximum</B>
      <BR><B><U>Aggregate Offering Price</U></B> </TD>
    <TD
    style="BORDER-RIGHT: #000000 0px solid; BORDER-TOP: #000000 3px double; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    noWrap align=center width="20%"><B>Amount of</B>
      <BR><B>Registration Fee</B> </TD></TR>
  <TR vAlign=top>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 0px solid; BORDER-BOTTOM: #000000 3px double"
    align=left>Common Stock, $0.001 par value </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    align=center width="20%">5,730,200 </TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    align=center width="20%">$0.97</TD>
    <TD
    style="BORDER-RIGHT: #000000 1px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    align=center width="20%">$5,558,294</TD>
    <TD
    style="BORDER-RIGHT: #000000 0px solid; BORDER-LEFT: #000000 1px solid; BORDER-BOTTOM: #000000 3px double"
    align=center width="20%">$560</TD>
  </TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>Pursuant to Rule 416, under the Securities Act of 1933,
      as amended, this registration statement also covers such indeterminate
      number of additional shares of common stock that become issuable by reason
      of any stock dividend, stock split or other similar
transactions.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>Estimated solely for the purpose of calculating the
      registration fee pursuant to Rule 457(c) under the Securities Act of 1933,
      as amended, based upon the average of the high and low prices of the
      common stock on the NASDAQ Capital Market on October 13,
2015.</P></TD></TR></TABLE>
<p align="center"><B>___________________________________</B><BR>
</p>
<P align=justify><B>The registrant hereby amends this registration statement on
such date or dates as may be necessary to delay its effective date until the
registrant shall file a further amendment which specifically states that this
registration statement shall thereafter become effective in accordance with
Section 8(a) of the Securities Act of 1933 or until the registration statement
shall become effective on such date as the Securities and Exchange Commission,
acting pursuant to said Section 8(a), may determine.</B></P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_3></A>
<P align=justify><B><FONT color=#ff0000>The information in this prospectus is
not complete and may be changed. The selling shareholder may not sell these
securities until the registration statement filed with the Securities and
Exchange Commission is effective. This prospectus is not an offer to sell these
securities, and the selling shareholder is not soliciting offers to buy these
securities in any state where the offer or sale of these securities is not
permitted. </FONT></B></P>
<P align=center><B><FONT color=#ff0000>Subject to Completion, Dated October
19, 2015 </FONT></B></P>
<P align=left><B><FONT color=#ff0000><FONT
color=#000000>PROSPECTUS</FONT></FONT></B></P>
<P align=center><IMG
src="forms1x3x1.jpg"
border=0 width="350" height="93"> </P>
<P align=center><B>LIGHTBRIDGE CORPORATION</B></P>
<P align=center><B><font size="4">5,730,200
Shares</font></B><font size="4"><BR></font><B><font size="4">Common Stock</font><BR></B><B>__________________________</B></P>
<P align=justify style="text-indent:5%">This prospectus relates to the sale
of up to 5,730,200 shares of our common stock by Aspire Capital Fund, LLC.
Aspire Capital is also referred to in this prospectus as the selling
shareholder. The prices at which the selling shareholder may sell the shares
will be determined by the prevailing market price for the shares or in
negotiated transactions. We will not receive proceeds from the sale of the
shares by the selling shareholder. However, we may receive proceeds of up to
$10.0 million from the sale of our common stock to the selling shareholder,
pursuant to a common stock purchase agreement entered into with the selling
shareholder on September 4, 2015, once the registration statement, of which this
prospectus is a part, is declared effective.</P>
<P align=justify style="text-indent:5%">The selling shareholder is an
&#147;underwriter&#148; within the meaning of the Securities Act of 1933, as amended. We
will pay the expenses of registering these shares, but all selling and other
expenses incurred by the selling shareholder will be paid by the selling
shareholder.</P>
<P align=justify style="text-indent:5%">Our common stock is listed on the
NASDAQ Capital Market under the symbol &#147;LTBR&#148;. On October 15, 2015,
the last reported sale price of our common stock on the NASDAQ Capital Market
was $1.03
per share. </P>
<P align=justify style="text-indent:5%">You should read this prospectus and
any prospectus supplement, together with additional information described under
the heading &#147;Where You Can Find More Information,&#148; carefully before you invest
in any of our securities.</P>
<p align="center"><B>___________________________________</B><BR>
</p>
<P align=justify style="text-indent:5%"><B>Investing in our securities
involves risks. See &#147;Risk Factors&#148; beginning on page 6 of this prospectus and
the risks and uncertainties described in the documents we file with the
Securities and Exchange Commission that are incorporated in this prospectus by
reference for certain risks and uncertainties relating to an investment in our
securities. </B></P>
<p align="center"><B>___________________________________</B><BR>
</p>
<P align=justify style="text-indent:5%"><B>Neither the Securities and
Exchange Commission nor any state securities commission has approved or
disapproved of these securities or passed upon the adequacy or accuracy of this
prospectus. Any representation to the contrary is a criminal offense. </B></P>
<p align="center"><B>___________________________________</B><BR>
</p>
<P align=center>This prospectus is dated&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2015.
</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_4></A>
<P align=center><B>TABLE OF CONTENTS</B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD noWrap align=left bgColor=#eeeeee><A
      href="#page_5">CAUTIONARY
      NOTE REGARDING FORWARD-LOOKING STATEMENTS </A></TD>
    <TD noWrap align=left width="15%" bgColor=#eeeeee><A
      href="#page_5">1
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_6">SUMMARY
      </A></TD>
    <TD align=left width="15%"><A
      href="#page_6">2
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_10">RISK
      FACTORS </A></TD>
    <TD align=left width="15%" bgColor=#eeeeee><A
      href="#page_10">6
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_21">THE
      ASPIRE CAPITAL TRANSACTION </A></TD>
    <TD align=left width="15%"><A
      href="#page_21">17
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_25">USE
      OF PROCEEDS </A></TD>
    <TD align=left width="15%" bgColor=#eeeeee><A
      href="#page_25">21
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_25">PRICE
      RANGE OF COMMON STOCK AND DIVIDEND POLICY </A></TD>
    <TD align=left width="15%"><A
      href="#page_25">21
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_26">DILUTION
      </A></TD>
    <TD align=left width="15%" bgColor=#eeeeee><A
      href="#page_26">22
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_27">DESCRIPTION
      OF CAPITAL STOCK </A></TD>
    <TD align=left width="15%"><A
      href="#page_27">23
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_29">SELLING
      SHAREHOLDER </A></TD>
    <TD align=left width="15%" bgColor=#eeeeee><A
      href="#page_29">25
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_30">PLAN
      OF DISTRIBUTION </A></TD>
    <TD align=left width="15%"><A
      href="#page_30">26
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_32">LEGAL
      MATTERS </A></TD>
    <TD align=left width="15%" bgColor=#eeeeee><A
      href="#page_32">28
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_32">EXPERTS
      </A></TD>
    <TD align=left width="15%"><A
      href="#page_32">28
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#eeeeee><A
      href="#page_32">WHERE
      YOU CAN FIND ADDITIONAL INFORMATION </A></TD>
    <TD align=left width="15%" bgColor=#eeeeee><A
      href="#page_32">28
      </A></TD></TR>
  <TR vAlign=top>
    <TD align=left><A
      href="#page_33">INCORPORATION
      OF CERTAIN INFORMATION BY REFERENCE </A></TD>
    <TD align=left width="15%"><A
      href="#page_33">29
      </A></TD></TR></TABLE>
<p align="center"><B>___________________________________</B><BR>
</p>
<P align=justify style="text-indent:5%"><STRONG>We have not, and the
selling shareholder has not, authorized anyone to provide you with information
different from that contained or incorporated by reference in this prospectus or
in any supplement to this prospectus or free writing prospectus, and neither we
nor the selling shareholder takes any responsibility for any other information
that others may give you. This prospectus is not an offer to sell, nor is it a
solicitation of an offer to buy, the securities in any jurisdiction where the
offer or sale is not permitted. You should not assume that the information
contained in this prospectus or any prospectus supplement or free writing
prospectus is accurate as of any date other than the date on the front cover of
those documents, or that the information contained in any document incorporated
by reference is accurate as of any date other than the date of the document
incorporated by reference, regardless of the time of delivery of this prospectus
or any sale of a security. Our business, financial condition, results of
operations and prospects may have changed since those dates. </STRONG></P>
<P align=justify style="text-indent:5%">This prospectus relates to the
offering of our common stock. Before buying any of our common stock, you should
carefully read this prospectus, any supplement to this prospectus, the
information and documents incorporated herein by reference and the additional
information under the heading &#147;Where You Can Find Additional Information&#148; and
&#147;Incorporation of Certain Information by Reference.&#148; These documents contain
important information that you should consider when making your investment
decision. </P>
<P align=justify style="text-indent:5%">References in this prospectus to
&#147;Lightbridge,&#148; &#147;we,&#148; &#147;us,&#148; &#147;our,&#148; &#147;our Company,&#148; or &#147;the Company&#148; mean
Lightbridge Corporation, a Nevada corporation, and its consolidated
subsidiaries, unless we state otherwise or the context indicates otherwise. </P>
<P align=center>i</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_5></A>
<P align=center><B>CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</B></P>
<P align=justify style="text-indent:5%">This prospectus contains or
incorporates forward-looking statements within the meaning of section 27A of the
Securities Act of 1933, as amended, or the Securities Act, and section 21E of
the Securities Exchange Act of 1934, as amended, or the Exchange Act. These
forward-looking statements are management&#146;s beliefs and assumptions. In
addition, other written or oral statements that constitute forward-looking
statements are based on current expectations, estimates and projections about
the industry and markets in which we operate and statements may be made by or on
our behalf. Words such as &#147;should,&#148; &#147;could,&#148; &#147;may,&#148; &#147;will,&#148; &#147;expect,&#148;
&#147;anticipate,&#148; &#147;intend,&#148; &#147;target,&#148; &#147;plan,&#148; &#147;believe,&#148; &#147;seek,&#148; &#147;estimate,&#148;
variations of such words and similar expressions are intended to identify such
forward-looking statements. Such statements include, among others, (i) those
concerning market and business segment growth, demand and acceptance of our
nuclear energy consulting services and nuclear fuel technology business, (ii)
any projections of sales, earnings, revenue, margins or other financial items,
(iii) any statements of the plans, strategies and objectives of management for
future operations, (iv) any statements regarding future economic conditions or
performance, (v) uncertainties related to conducting business in foreign
countries, as well as (vi) all assumptions, expectations, predictions,
intentions or beliefs about future events. These statements are not guarantees
of future performance and involve substantial risks, uncertainties and
assumptions that are difficult to predict. Important factors that could cause
actual results to differ materially from those in such forward-looking
statements are set forth in Item 1A &#147;Risk Factors&#148; in our Annual Report on Form
10-K for the year ended December 31, 2014, our other filings with the Securities
and Exchange Commission, or SEC, and any supplement to this prospectus and
include but are not limited to:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >
      <P align=justify>&nbsp;</P></TD>
    <TD align=left >
      <P align=justify>&bull;</P></TD>
    <TD align=left width="90%">
      <P align=justify>our ability to commercialize our nuclear fuel technology;
      </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;
      </TD>
    <TD align=left >&nbsp;
      </TD>
    <TD align=left width="90%">&nbsp;
      </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >
      <P align=justify>&nbsp;</P></TD>
    <TD align=left >
      <P align=justify>&bull;</P></TD>
    <TD align=left width="90%">
      <P align=justify>our ability to attract new customers; </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;
      </TD>
    <TD align=left width="90%">&nbsp;
      </TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >
      <P align=justify>&bull;</P></TD>
    <TD align=left width="90%">
      <P align=justify>our ability to employ and retain qualified employees and
      consultants that have experience in the nuclear industry; </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;
      </TD>
    <TD align=left >&nbsp;
      </TD>
    <TD align=left width="90%">&nbsp;
      </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >
      <P align=justify>&nbsp;</P></TD>
    <TD align=left >
      <P align=justify>&bull;</P></TD>
    <TD align=left width="90%">
      <P align=justify>competition and competitive factors in the markets in
      which we compete; </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;
      </TD>
    <TD align=left >&nbsp;
      </TD>
    <TD align=left width="90%">&nbsp;
      </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >
      <P align=justify>&nbsp;</P></TD>
    <TD align=left >
      <P align=justify>&bull;</P></TD>
    <TD align=left width="90%">
      <P align=justify>public perception of nuclear energy generally; </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;
      </TD>
    <TD align=left width="90%">&nbsp;
      </TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >
      <P align=justify>&bull;</P></TD>
    <TD align=left width="90%">
      <P align=justify>general economic and business conditions in the local
      economies in which we regularly conduct business, which can affect demand
      for our services; </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;
      </TD>
    <TD align=left >&nbsp;
      </TD>
    <TD align=left width="90%">&nbsp;
      </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >
      <P align=justify>&nbsp;</P></TD>
    <TD align=left >
      <P align=justify>&bull;</P></TD>
    <TD align=left width="90%">
      <P align=justify>changes in laws, rules and regulations governing our
      business; </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;
      </TD>
    <TD align=left >&nbsp;
      </TD>
    <TD align=left width="90%">&nbsp;
      </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >
      <P align=justify>&nbsp;</P></TD>
    <TD align=left >
      <P align=justify>&bull;</P></TD>
    <TD align=left width="90%">
      <P align=justify>development and utilization of our intellectual property;
      and </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;
      </TD>
    <TD align=left >&nbsp;
      </TD>
    <TD align=left width="90%">&nbsp;
      </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >
      <P align=justify>&nbsp;</P></TD>
    <TD align=left >
      <P align=justify>&bull;</P></TD>
    <TD align=left width="90%">
      <P align=justify>potential and contingent liabilities.
</P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">The foregoing list of important
factors is not intended to be and is not exhaustive. We base our forward-looking
statements on our management&#146;s beliefs and assumptions based on information
available to our management at the time the statements are made. Actual outcomes
and results may differ materially from those expressed, implied or projected in
such forward-looking statements and therefore you should not place undue
reliance on them. Except as required under the federal securities laws and the
rules and regulations of the SEC, we do not have any intention or obligation to
update publicly any forward-looking statements after the distribution of this
prospectus, whether as a result of new information, future events, changes in
assumptions or otherwise. </P>
<P align=center>1 </P>
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  <tr>
    <td width="100%" style="border-bottom-style: none; border-bottom-width: medium">
<P align=center style="margin-left: 5; margin-right: 5; margin-top:5"><B>SUMMARY </B></P>
<P align=justify style="text-indent:5%; margin-left:5; margin-right:5"><I>This summary highlights
selected information about us, this offering and selected information appearing
elsewhere in this prospectus and in the documents we incorporate by reference
herein. This summary is not complete and does not contain all of the information
that you should consider before deciding whether to invest in our common stock.
You should read this entire prospectus carefully, including the &#147;Risk Factors&#148;
section beginning on page 6 of this prospectus and the &#147;Risk Factors&#148; section of
our Annual Report on Form 10-K for the year ended December 31, 2014 and our
Quarterly Reports on Form 10-Q, our financial statements and the related notes
and the other documents incorporated by reference in this prospectus. </I></P>
<P align=center style="margin-left: 5; margin-right: 5"><B>About Lightbridge Corporation</B></P>
<P align=justify style="text-indent:5%; margin-left:5; margin-right:5">Lightbridge is a leading nuclear
fuel technology company and we participate in the nuclear power industry in the
United States and internationally. Our mission is to be a world leader in the
design and licensing of our patented nuclear fuels that are economically
attractive, enhance reactor safety, are proliferation resistant, and produce
less waste than current generation nuclear fuels, and to provide world-class
strategic advisory services to governments and utilities seeking to develop or
expand civil nuclear power programs.</P>
<P align=justify style="text-indent:5%; margin-left:5; margin-right:5">Our business operations can be
categorized in two segments:</P>
    <p style="margin-left: 5; margin-right: 5">&nbsp;</td>
  </tr>
</table>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%" style="border-left-style: solid; border-left-width: 1" bordercolor="#111111"  >
    <p align="justify" style="text-indent: 5%; margin-left: 5; margin-right: 5"></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%" style="border-right-style: solid; border-right-width: 1" bordercolor="#000000">
    <p style="margin-right: 5"><I>Nuclear Fuel Technology Business</I>. We
      develop next generation nuclear fuel technology that has the potential to
      significantly increase the power output of commercial reactors, reducing
      the cost of generating nuclear energy and the amount of nuclear waste on a
      per-megawatt-hour basis and enhancing reactor safety and the proliferation
      resistance of spent fuel. Our main focus is on our nuclear fuel technology
      business segment. </TD></TR>
  <TR>
    <TD width="5%" style="border-left-style: solid; border-left-width: 1" bordercolor="#111111" >
    <p style="margin-left: 5; margin-right: 5">&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%" style="border-right-style: solid; border-right-width: 1" bordercolor="#000000">
    <p style="margin-right: 5">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" style="border-left-style: solid; border-left-width: 1" bordercolor="#111111" >
    <p style="margin-left: 5; margin-right: 5"></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%" style="border-right-style: solid; border-right-width: 1" bordercolor="#000000">
    <p style="margin-right: 5"><I>Nuclear Energy Consulting Business</I>. We
      provide nuclear power consulting and strategic advisory services to
      commercial and governmental entities worldwide. </TD></TR></TABLE>
<table border="1" cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; border-top-width: 0" bordercolor="#111111" width="100%">
  <tr>
    <td width="100%" style="border-top-style: none; border-top-width: medium; border-bottom-style: none; border-bottom-width: medium">
    <p style="margin-left: 5; margin-right: 5">&nbsp;</td>
  </tr>
  <tr>
    <td width="100%" style="border-top-style: none; border-top-width: medium">
<P align=justify style="text-indent:5%; margin-left:5; margin-right:5">We were incorporated under the
laws of the State of Nevada on February 2, 1999 and engaged in businesses other
than our current business until October 6, 2006, when we acquired our
wholly-owned subsidiary Thorium Power, Inc. </P>
<P align=justify style="text-indent:5%; margin-left:5; margin-right:5">The address of our principal
executive office is 1600 Tysons Boulevard, Suite 550, McLean, Virginia, 22102,
and our telephone number is (571) 730-1200. We maintain a website at
<I>www.ltbridge.com</I> that contains information about our Company, though no
information contained on our website is part of this prospectus.</P>
    <p style="margin-left: 5; margin-right: 5">&nbsp;</td>
  </tr>
</table>
<P align=center>2 </P>
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noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center style="border-left-style: solid; border-left-width: 1; border-top-style: solid; border-top-width: 1; border-bottom-style:none; border-bottom-width:medium; border-right-style:solid; border-right-width:1" bordercolor="#000000" colspan="2" >
    <p style="margin-top: 5"><B>The Offering</B></TD>
    </TR>

  <TR vAlign=top>
    <TD align=left style="border-left-style: solid; border-left-width: 1; border-top-style: none; border-top-width: medium; border-bottom-style:none; border-bottom-width:medium" bordercolor="#000000" >&nbsp;</TD>
    <TD width="70%" align=left style="border-right-style: solid; border-right-width: 1; border-top-style: none; border-top-width: medium; border-bottom-style:none; border-bottom-width:medium" bordercolor="#000000">&nbsp;</TD></TR>

  <TR vAlign=top>
    <TD align=left style="border-left-style: solid; border-left-width: 1; border-top-style: none; border-top-width: medium" bordercolor="#000000" >
    <p style="margin-left: 5">Common stock offered by the selling shareholder </TD>
    <TD width="70%" align=left style="border-right-style: solid; border-right-width: 1; border-top-style: none; border-top-width: medium" bordercolor="#000000">
    <p style="margin-right: 5">Up to 5,730,200 shares, including 300,000
      shares previously issued to Aspire Capital as a commitment fee  </TD></TR>
  <TR>
    <TD style="border-left-style: solid; border-left-width: 1" bordercolor="#000000" >
    <p style="margin-left: 5">&nbsp; </TD>
    <TD width="70%" style="border-right-style: solid; border-right-width: 1" bordercolor="#000000">
    <p style="margin-right: 5">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left style="border-left-style: solid; border-left-width: 1" bordercolor="#000000" >
    <p style="margin-left: 5">Common stock outstanding </TD>
    <TD align=left width="70%" style="border-right-style: solid; border-right-width: 1" bordercolor="#000000">
    <p style="margin-right: 5">18,523,423 shares (as of October 5,
  2015)(1) </TD></TR>
  <TR>
    <TD style="border-left-style: solid; border-left-width: 1" bordercolor="#000000" >
    <p style="margin-left: 5">&nbsp; </TD>
    <TD width="70%" style="border-right-style: solid; border-right-width: 1" bordercolor="#000000">
    <p style="margin-right: 5">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left style="border-left-style: solid; border-left-width: 1" bordercolor="#000000" >
    <p style="margin-left: 5">Use of proceeds </TD>
    <TD align=left width="70%" style="border-right-style: solid; border-right-width: 1" bordercolor="#000000">
    <p style="margin-right: 5">The selling shareholder will receive all of the
      proceeds from the sale of the shares offered for sale by it under this
      prospectus. We will not receive proceeds from the sale of the shares by
      the selling shareholder. However, we may receive up to $10.0 million in
      proceeds from the sale of our common stock to the selling shareholder
      under the common stock purchase agreement described below. Any proceeds
      from the selling shareholder that we receive under the purchase agreement
      are expected to be used for working capital and general corporate
      purposes. </TD></TR>
  <TR>
    <TD style="border-left-style: solid; border-left-width: 1" bordercolor="#000000" >
    <p style="margin-left: 5">&nbsp; </TD>
    <TD width="70%" style="border-right-style: solid; border-right-width: 1" bordercolor="#000000">
    <p style="margin-right: 5">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left style="border-left-style: solid; border-left-width: 1" bordercolor="#000000" >
    <p style="margin-left: 5">NASDAQ Capital Market symbol </TD>
    <TD align=left width="70%" style="border-right-style: solid; border-right-width: 1" bordercolor="#000000">
    <p style="margin-right: 5">&#147;LTBR&#148; </TD></TR>
  <TR>
    <TD style="border-left-style: solid; border-left-width: 1" bordercolor="#000000" >
    <p style="margin-left: 5">&nbsp; </TD>
    <TD width="70%" style="border-right-style: solid; border-right-width: 1" bordercolor="#000000">
    <p style="margin-right: 5">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left style="border-left-style: solid; border-left-width: 1" bordercolor="#000000" >
    <p style="margin-left: 5">Risk factors </TD>
    <TD align=left width="70%" style="border-right-style: solid; border-right-width: 1" bordercolor="#000000">
    <p style="margin-right: 5">See &#147;Risk Factors&#148; beginning on page 6 of this
      prospectus and the other information included in, or incorporated by
      reference into, this prospectus for a discussion of certain factors you
      should carefully consider before deciding to invest in shares of our
      common stock. </TD></TR></TABLE>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%" style="border-left-style: solid; border-left-width: 1" bordercolor="#000000">&nbsp;</TD>
    <TD style="border-right-style: solid; border-right-width: 1" bordercolor="#000000">&nbsp;
      </TD></TR>

  <TR>
    <TD vAlign=top width="5%" style="border-left-style: solid; border-left-width: 1" bordercolor="#000000">
    <p style="margin-left: 5">(1) </TD>
    <TD style="border-right-style: solid; border-right-width: 1" bordercolor="#000000">
      <P align=justify style="margin-right: 5">The number of shares of our common stock outstanding
      excludes  3,518,492 shares of our common stock issuable upon the exercise
      of stock options outstanding as of October 5, 2015 at a weighted-
      average exercise price of $5.655 per share and  4,886,764 shares of our
      common stock issuable upon the exercise of outstanding warrants with an
      exercise price of $3.79 per share. Unless otherwise indicated, all
      information in this prospectus assumes no exercise of the outstanding
options or warrants described above.</P></TD></TR></TABLE>
<table border="1" cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-size: 10pt; border-top-width: 0" bordercolor="#111111" width="100%">
  <tr>
    <td width="100%" style="border-top-style: none; border-top-width: medium; border-bottom-style: none; border-bottom-width: medium">&nbsp;</td>
  </tr>
  <tr>
    <td width="100%" style="border-top-style: none; border-top-width: medium">
<P align=justify style="margin-left: 5; margin-right: 5"><B><I>Purchase Agreement with Aspire Capital</I></B></P>
<P align=justify style="text-indent:5%; margin-left:5; margin-right:5">On September 4, 2015, we entered
into a common stock purchase agreement (referred to in this prospectus as the
Purchase Agreement), with Aspire Capital Fund, LLC, an Illinois limited
liability company (referred to in this prospectus as Aspire Capital or the
selling shareholder), which provides that, upon the terms and subject to the
conditions and limitations set forth therein, Aspire Capital is committed to
purchase up to an aggregate of $10.0 million of our shares of common stock over
the approximately 24-month term of the Purchase Agreement. In consideration for
entering into the Purchase Agreement, concurrently with the execution of the
Purchase Agreement, we issued to Aspire Capital 300,000 shares of our common
stock as a commitment fee (referred to in this prospectus as the Commitment
Shares). Concurrently with entering into the Purchase Agreement, we also entered
into a registration rights agreement with Aspire Capital (referred to in this
prospectus as the Registration Rights Agreement), in which we agreed to file one
or more registration statements, including the registration statement of which
this prospectus is a part, as permissible and necessary to register under the
Securities Act the sale of the shares of our common stock that have been and may
be issued to Aspire Capital under the Purchase Agreement.<br>
&nbsp;</P>
    </td>
  </tr>
</table>
<P align=center>3 </P>
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    <td width="100%">
<P align=justify style="text-indent:5%; margin-left:5; margin-right:5; margin-top:5">As of October
5, 2015, there
were  18,523,423 shares of our common stock outstanding (17,626,275 shares
held by non-affiliates), including the 300,000 Commitment Shares, but excluding
the 5,430,200 shares offered that have not been issued but may become issuable
to Aspire Capital pursuant to the Purchase Agreement. If all of the 5,730,200
shares of our common stock offered hereby were issued and outstanding as of the
date hereof, such shares would represent approximately 23.9% of the total
common stock outstanding or approximately 24.9% of the non-affiliate shares of
common stock outstanding as of the date hereof. The aggregate number of shares
that we can issue to Aspire Capital under the Purchase Agreement may in no case
exceed 3,614,766 shares of our common stock (which is equal to approximately
19.99% of the common stock outstanding on the date of the Purchase Agreement),
unless (i) stockholder approval is obtained to issue more, in which case this
3,614,766 share limitation will not apply, or (ii) stockholder approval has not
been obtained and at any time the 3,614,766 share limitation is reached and at
all times thereafter the average price paid for all shares issued under the
Purchase Agreement (including the 300,000 Commitment Shares) is equal to or
greater than $0.95 (the &#147;Minimum Price&#148;), a price equal to the closing sale
price of our common stock on the business day before the execution of the
Purchase Agreement; provided that at no point in time shall Aspire Capital
(together with its affiliates) beneficially own more than 19.99% of our common
stock.</P>
<P align=justify style="text-indent:5%; margin-left:5; margin-right:5">Pursuant to the Purchase
Agreement and the Registration Rights Agreement, we are registering 5,730,200
shares of our common stock under the Securities Act, which includes the 300,000
Commitment Shares that have already been issued to Aspire Capital and 5,430,200
shares of common stock which we may issue to Aspire Capital after this
registration statement is declared effective under the Securities Act. All
5,730,200 shares of common stock are being offered pursuant to this prospectus.
Under the Purchase Agreement, we have the right but not the obligation to issue
more than the 5,730,200 shares of common stock included in this prospectus to
Aspire Capital. As of the date hereof, we do not have any plans or intent to
issue to Aspire Capital any shares of common stock in addition to the 5,730,200
shares of common stock offered hereby.</P>
<P align=justify style="text-indent:5%; margin-left:5; margin-right:5">After the Securities and Exchange
Commission, or the SEC, has declared effective the registration statement of
which this prospectus is a part, on any trading day on which the closing sale
price of our common stock equals or exceeds $0.10, we have the right, in our
sole discretion, to present Aspire Capital with a purchase notice (each a
&#147;Purchase Notice&#148;) directing Aspire Capital (as principal) to purchase up to
100,000 shares of our common stock per trading day, provided that the aggregate
price of such purchase shall not exceed $250,000 per trading day, up to $10.0
million of our common stock in the aggregate at a per share price (the &#147;Purchase
Price&#148;) calculated by reference to the prevailing market price of our common
stock (as more specifically described below).</P>
<P align=justify style="text-indent:5%; margin-left:5; margin-right:5">In
addition, on any date on which we submit a Purchase Notice for 100,000 shares to
Aspire Capital and the closing sale price of our stock equals or exceeds $0.10
per share of common stock, we also have the right, in our sole discretion, to
present Aspire Capital with a volume-weighted average price purchase notice
(each a &#147;VWAP Purchase Notice&#148;) directing Aspire Capital to purchase an amount
of stock equal to up to 30% of the aggregate shares of the Company&#146;s common
stock traded on the NASDAQ Capital Market on the next trading day (the &#147;VWAP
Purchase Date&#148;), subject to a maximum number of shares we may determine (the
&#147;VWAP Purchase Share Volume Maximum&#148;) and a minimum trading price (the &#147;VWAP
Minimum Price Threshold&#148;), as more specifically described below. The purchase
price per Purchase Share pursuant to such VWAP Purchase Notice (the &#147;VWAP
Purchase Price&#148;) is calculated by reference to the prevailing market price of
our common stock (as more specifically described below).</P>
    <p>&nbsp;</td>
  </tr>
</table>
<P align=center>4 </P>
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    <td width="100%">
<P align=justify style="text-indent:5%; margin-left:5; margin-right:5; margin-top:5">
The Purchase Agreement provides that the Company and Aspire Capital shall not
effect any sales under the Purchase Agreement on any purchase date where the
closing sale price of our common stock is less than $0.10 per share (the &#147;Floor
Price&#148;). The Floor Price and the respective prices and share numbers in the
preceding paragraphs shall be appropriately adjusted for any reorganization,
recapitalization, non-cash dividend, stock split, reverse stock split or other
similar transaction. There are no trading volume requirements or restrictions
under the Purchase Agreement, and we will control the timing and amount of any
sales of our common stock to Aspire Capital. Aspire Capital has no right to
require any sales by us, but is obligated to make purchases from us as we direct
in accordance with the Purchase Agreement. There are no limitations on use of
proceeds, financial or business covenants, restrictions on future fundings,
rights of first refusal, participation rights, penalties or liquidated damages
in the Purchase Agreement. The Purchase Agreement may be terminated by us at any
time, at our discretion, without any penalty or cost to us.</P>
    <p>&nbsp;</td>
  </tr>
</table>

<P align=center>5 </P>
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<P align=center><B>RISK FACTORS</B></P>
<P align=justify style="text-indent:5%"><I>An investment in our common
involves a high degree of risk. Prior to making a decision about investing in
our common stock, you should carefully consider the risk factors described below
and the risk factors discussed in the sections entitled &#147;Risk Factors&#148; contained
in our Annual Report on Form 10-K for the year ended December 31, 2014, our
Quarterly Reports on Form 10-Q and in any applicable prospectus supplement and
our other filings with the SEC and incorporated by reference in this prospectus,
together with all of the other information contained in this prospectus, or any
applicable prospectus supplement. Additional risks and uncertainties not
presently known to us, or that we currently view as immaterial, may also impair
our business. If any of the risks or uncertainties described in our SEC filings
or any prospectus supplement or any additional risks and uncertainties actually
occur, our business, financial condition and results of operations could be
materially and adversely affected. In that case, the trading price of our common
stock could decline and you might lose all or part of your investment. </I></P>
<P align=justify><B>Risks Related to the Company</B></P>
<P align=justify style="text-indent:5%"><B><I>We will need to raise
significant additional capital in the future to expand our operations and
continue our research and development and we may be unable to raise such funds
when needed and on acceptable terms. </I></B></P>
<P align=justify style="text-indent:5%">We will need to raise significant
additional capital in order to continue our research and development activities
and fund our operations. Our current plan is to seek external funding from third
party sources to support a large portion of the remaining development, testing
and demonstration activities relating to our metallic nuclear fuel technology.
The extent to which we utilize the Purchase Agreement with Aspire Capital as a
source of funding will depend on a number of factors, including the prevailing
market price of our common stock, the volume of trading in our common stock and
the extent to which we are able to secure funds from other sources. The number
of shares that we may sell to Aspire Capital under the Purchase Agreement on any
given day and during the term of the Purchase Agreement is limited. See &#147;The
Aspire Capital Transaction&#148; for additional information. Additionally, we and
Aspire Capital may not effect any sales of shares of our common stock under the
Purchase Agreement during the continuance of an event of default or on any
trading day that the closing sale price of our common stock is less than $0.10
per share. Even if we are able to access the full $10.0 million under the
Purchase Agreement, we will still need additional capital to fully implement our
business, operating and development plans.</P>
<P align=justify style="text-indent:5%">When we elect to raise additional
funds or additional funds are required, we may raise such funds from time to
time through public or private equity offerings, debt financings or other
financing alternatives, as well as through sales of common stock to Aspire
Capital under the Purchase Agreement. Additional equity or debt financing or
other alternative sources of capital may not be available to us on acceptable
terms, if at all.</P>
<P align=justify style="text-indent:5%">If we raise additional funds by
issuing equity securities, our stockholders will experience dilution. Debt
financing, if available, would result in substantial fixed payment obligations
and may involve agreements that include covenants limiting or restricting our
ability to take specific actions, such as incurring additional debt, making
capital expenditures or declaring dividends. Any debt financing or additional
equity that we raise may contain terms, such as liquidation and other
preferences, which are not favorable to us or our stockholders. If we are unable
to raise additional capital in sufficient amounts or on terms acceptable to us,
we may not be able to fully develop our nuclear fuel designs, our future
operations will be limited, and our ability to generate revenues and achieve or
sustain future profitability will be substantially harmed. </P>
<P align=center>6 </P>
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<P align=justify style="text-indent:5%"><B><I>If we are unable to enter
into one or more commercial agreements with nuclear fuel fabricators and/or fuel
development partners, we may not be able to raise money on terms acceptable to
us or at all. </I></B></P>
<P align=justify style="text-indent:5%">We are currently in discussions
with potential development partners regarding entry into agreements to support
our research and development activities and further enhance the development of
our fuel products. We are unable to provide a reliable estimate as to the
likelihood or timing of any such agreements at this time. If we are unable to
demonstrate meaningful progress towards entry into these agreements or other
strategic arrangements to further the development of our fuel products, it may
be difficult for us to raise additional capital on terms acceptable to us or at
all. If we are unable to raise additional capital, it is unlikely that we may be
able to execute our current business plan. </P>
<P align=justify style="text-indent:5%"><B><I>If the price of non-nuclear
energy sources falls, there could be an adverse impact on new build nuclear
reactor activities in certain markets, which would have a material adverse
effect on our operations. </I></B></P>
<P align=justify style="text-indent:5%">In certain markets with a
diversified energy base, decisions on new build power plants are largely
affected by the economics of various energy sources. If prices of non-nuclear
energy sources fall, it could limit the deployment of new build nuclear power
plants in such markets. This could reduce the size of the potential markets for
both our fuel technology and our consulting services. </P>
<P align=justify style="text-indent:5%"><B><I>We may be adversely
affected by uncertainty in the global financial markets and worldwide economic
downturn. </I></B></P>
<P align=justify style="text-indent:5%">Our future results may be
adversely affected by the worldwide economic downturn, continued volatility or
further deterioration in the debt and equity capital markets, inflation,
deflation, or other adverse economic conditions that may negatively affect us.
At present, it is likely that we will require additional capital in the near
future in order to fund our operations. Due to the above listed factors, we
cannot be certain that additional funding will be available on terms that are
acceptable to us, or at all. </P>
<P align=justify style="text-indent:5%"><B><I>We may be adversely
affected by public opposition to nuclear energy as a result of the major nuclear
accident at Fukushima, Japan. </I></B></P>
<P align=justify style="text-indent:5%">The major nuclear accident at the
Fukushima nuclear power plant in Japan following the strong earthquake and
massive tsunami that occurred on March 11, 2011, increased public opposition to
nuclear power in some countries, resulting in a slowdown in, or, in some cases,
a complete halt to, new construction of nuclear power plants and an early shut
down of existing power plants in certain countries. As a result, some countries
that were considering launching new domestic nuclear power programs before the
Fukushima accident have delayed or cancelled preparatory activities they were
planning to undertake as part of such programs. This has diminished the number
of consulting opportunities that we could compete on globally, at least in the
near-term. In addition, the Fukushima accident appears to have shrunk the
projected size of the global nuclear power market in 2025-2030 as reflected in
the most recent reference case projections published by the World Nuclear
Association. </P>
<P align=justify style="text-indent:5%"><STRONG><EM>Our limited operating
history makes it difficult to judge our prospects. </EM></STRONG></P>
<P align=justify style="text-indent:5%">Prior to 2008, we were a
development stage company. We have commenced the provision of nuclear consulting
services and currently have only a limited number of clients in this area of our
business. Similarly, our fuel design patents and technology have not been
commercially used and we have not received any royalty or sales revenue from
this area of our business. We are subject to the risks, expenses and problems
frequently encountered by companies in the early stages of development. </P>
<P align=center>7 </P>
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<P align=justify style="text-indent:5%"><B><I>The accounting treatment
for our outstanding warrants is highly complex, and we may be required to
restate our historical financial statements to account for our warrants as a
derivative liability under GAAP. </I></B></P>
<P align=justify style="text-indent:5%">The accounting treatment for
warrants is highly complex and subject to judgments concerning the appropriate
categorization under generally accepted accounting principles (GAAP). We have
historically accounted for our outstanding warrants as a component of
stockholders&#146; equity, based on the terms of the warrants and the application of
FASB Accounting Standards Codification Topic 815-40, <I>Derivatives and Hedging
&#151; Contracts in Entity&#146;s Own Equity</I>. Management has determined to seek
guidance from the Office of the Chief Accountant of the SEC concerning the
appropriate accounting treatment for our outstanding warrants. On September 4,
2015, management sent a letter to the SEC requesting confirmation that the SEC
staff does not object to the Company&#146;s presentation of its outstanding warrants
as a component of stockholders&#146; equity. While management, our independent
outside auditors and the Company&#146;s Audit Committee all agree with the
classification of the outstanding warrants as a component of stockholders&#146;
equity, there can be no guarantee that the SEC staff will agree, and we could be
required to restate our historical financial statements to reclassify the
warrants as a derivative liability instead of as a component of stockholders&#146;
equity. The need to restate our financial results could, among other potential
adverse effects, result in us incurring additional costs, affect our ability to
timely file our periodic reports until such restatement is completed, result in
material changes to our historical and future financial results, result in
investors losing confidence in our operating results, and cause our stock price
to decline. </P>
<P align=justify style="text-indent:5%">If we were to reclassify the
warrants as a derivative liability, we would be required to &#147;mark to market&#148; the
derivative liability each reporting period under applicable accounting rules and
record changes in the fair value associated with the derivative liability in our
consolidated statement of operations. As such, when the trading price for our
common stock increases, the fair value of the derivative liability would
generally increase and we would recognize an expense associated with this change
in fair value. Similarly, when our trading price decreases, the fair value of
the derivative liability would generally decrease and we would recognize a gain
associated with this change in fair value. As such, though there would be no
cash flow impact to us caused by the volatility of our trading price, applicable
accounting rules will directly impact our reported profit or loss pursuant to
GAAP. </P>
<P align=justify style="text-indent:5%">In addition, the continued
listing standards of the NASDAQ Capital Market, on which our common stock is
listed, require, among other things, that we maintain at least $2.5 million in
stockholders&#146; equity until either the market value of our listed securities is
at least $35.0 million or we have net income from continuing operations of at
least $500,000 in the most recently completed fiscal year or in two of the three
most recently completed fiscal years. A reclassification of the warrants to a
derivative liability could reduce our stockholders&#146; equity for purposes of this
continued NASDAQ listing requirement and financial reporting purposes. In
particular, an increasing warrant liability that would result from a continual
increase in the trading price of our common stock at the end of each financial
reporting period may make it more difficult for us to maintain the minimum
stockholders&#146; equity required for the NASDAQ Capital Market. Failure to remain
listed on the NASDAQ Capital Market could have a material adverse effect on the
value and liquidity of our securities. </P>
<P align=justify style="text-indent:5%"><B><I>We rely upon certain
members of our senior management, including Seth Grae, and the loss of Mr. Grae
or any of our senior management would have an adverse effect on the Company.
</I></B></P>
<P align=justify style="text-indent:5%">Our success depends upon certain
members of our senior management, including Seth Grae, our Chief Executive
Officer. Mr. Grae&#146;s knowledge of the nuclear power industry, his network of key
contacts within that industry and in governments and, in particular, his
expertise in the potential markets for our technologies, is critical to the
implementation of our business model. Mr. Grae is likely to be a significant factor in our future growth and success. The loss
of services by Mr. Grae would likely have a material adverse effect on us. </P>
<P align=center>8 </P>
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<P align=justify style="text-indent:5%"><STRONG><EM>Competition for
highly skilled professionals could have a material adverse effect on our
success. </EM></STRONG></P>
<P align=justify style="text-indent:5%">We rely heavily on our contractor
staff and management team. Our success depends, in large part, on our ability to
hire, retain, develop, and motivate highly skilled professionals. Competition
for these skilled professionals is intense and our inability to hire, retain and
motivate adequate numbers of consultants and managers could adversely affect our
ability to meet client needs and to continue the development of our fuel
designs. A loss of a significant number of our employees could have a
significant negative effect on us. Any significant volatility or sustained
decline in the market price of our common stock could impair our ability to use
equity-based compensation to attract, retain, and motivate key employees and
consultants. </P>
<P align=justify style="text-indent:5%"><B><I>Successful execution of our
business model is dependent upon public support for nuclear power and overcoming
public opposition to nuclear energy as a result of the major nuclear accident at
Fukushima. </I></B></P>
<P align=justify style="text-indent:5%">Successful execution of our
business model is dependent upon public support for nuclear power in the United
States and other countries. Nuclear power faces strong opposition from certain
competitive energy sources, individuals, and organizations. The major nuclear
accident that occurred at the Fukushima nuclear power plant in Japan beginning
on March 11, 2011, has had an adverse effect on public opinion about nuclear
power in some countries and the favorable regulatory climate needed to introduce
new nuclear technologies. Strong public opposition has hindered the construction
of new nuclear power plants and led to early shut-down of the existing nuclear
power plants. Furthermore, nuclear fuel fabrication and the use of new nuclear
fuels in reactors must be licensed by the US Nuclear Regulatory Commission and
equivalent governmental authorities around the world. In many countries, the
licensing process includes public hearings in which opponents of the use of
nuclear power might be able to cause the issuance of required licenses to be
delayed or denied. Following the Fukushima nuclear accident, some countries have
announced their plans to delay, scale down, or cancel deployment of new nuclear
power plants while others, such as Germany, have decided to completely phase out
nuclear power over the coming years. </P>
<P align=justify style="text-indent:5%"><B><I>We may not be able to
receive or retain authorizations that may be required for us to sell our
services, or license our technology internationally. </I></B></P>
<P align=justify style="text-indent:5%">The sales and marketing of our
services and technology internationally may be subject to US export control
regulations and the export control laws of other countries. Governmental
authorizations may be required before we can export our services or technology.
If authorizations are required and not granted, our international business plans
could be materially affected. The export authorization process is often time
consuming. Violation of export control regulations could subject us to fines and
other penalties, such as losing the ability to export for a period of years,
which would limit our revenue growth opportunities and significantly hinder our
attempts to expand our business internationally. </P>
<P align=justify><B>Risks Relating to Our Securities</B></P>
<P align=justify style="text-indent:5%"><B><I>The sale of our common
stock to Aspire Capital may cause substantial dilution to our existing
shareholders and the sale of the shares of common stock acquired by Aspire
Capital could cause the price of our common stock to decline. </I></B></P>
<P align=justify style="text-indent:5%">We are registering for sale the
300,000 Commitment Shares that we have issued and 5,430,200 shares that we may
sell to Aspire Capital under the Purchase Agreement. It is anticipated that
shares registered in this offering will be sold over a period of up to approximately
24 months from the date of this prospectus. The number of shares ultimately
offered for sale by Aspire Capital under this prospectus is dependent upon the
number of shares we elect to sell to Aspire Capital under the Purchase
Agreement. Depending upon market liquidity at the time, sales of shares of our
common stock under the Purchase Agreement may cause the trading price of our
common stock to decline. </P>
<P align=center>9 </P>
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<P align=justify style="text-indent:5%">Aspire Capital may ultimately
purchase all, some or none of the $10.0 million of common stock that, together
with the 300,000 Commitment Shares, is the subject of this prospectus. Aspire
Capital may sell all, some or none of our shares that it holds or comes to hold
under the Purchase Agreement. Sales by Aspire Capital of shares acquired
pursuant to the Purchase Agreement under the registration statement, of which
this prospectus is a part, may result in dilution to the interests of other
holders of our common stock. The sale of a substantial number of shares of our
common stock by Aspire Capital in this offering, or anticipation of such sales,
could make it more difficult for us to sell equity or equity-related securities
in the future at a time and at a price that we might otherwise wish to effect
sales. However, we have the right to control the timing and amount of sales of
our shares to Aspire Capital, and the Purchase Agreement may be terminated by us
at any time at our discretion without any penalty or cost to us. </P>
<P align=justify style="text-indent:5%"><B><I>There may be volatility in
our stock price, which could negatively affect investments, and stockholders may
not be able to resell their shares at or above the value they originally
purchased such shares. </I></B></P>
<P align=justify style="text-indent:5%">The market price of our common
stock may fluctuate significantly in response to a number of factors, some of
which are beyond our control, including:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">quarterly variations in operating results;
  </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">changes in financial estimates by securities
      analysts; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">changes in market valuations of other similar
      companies; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">limited liquidity in our common stock; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">announcements by us or our competitors of new
      products or of significant technical innovations, contracts, receipt of
      (or failure to obtain) government funding or support, acquisitions,
      strategic partnerships or joint ventures; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">additions or departures of key personnel;
</TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">any deviations in net sales or in losses from
      levels expected by securities analysts, or any reduction in political
      support from levels expected by securities analysts; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">future sales of common stock; and </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">nuclear accidents or other adverse nuclear
      industry events. </TD></TR></TABLE>
<P align=justify style="text-indent:5%">The stock market may experience
extreme volatility that is often unrelated to the performance of particular
companies. These market fluctuations may cause our stock price to fall
regardless of its performance. </P>
<P align=center>10 </P>
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<P align=justify><B>Risks Related to Our Fuel Technology Business</B></P>
<P align=justify style="text-indent:5%"><B><I>Our fuel designs have never
been tested in an existing commercial reactor and actual fuel performance, as
well as the willingness of commercial reactor operators and fuel fabricators to
adopt a new design, is uncertain. </I></B></P>
<P align=justify style="text-indent:5%">Nuclear power research and
development entails significant technological risk. New designs must undergo
extensive development and testing necessary for regulatory approval. Our fuel
designs are still in the research and development stage and while certain
testing on our fuel technologies has been completed, further testing and
experiments will be required in test facilities. Furthermore, the fuel
technology has yet to be demonstrated in operating conditions analogous to those
found in an existing commercial reactor. Until we are able to successfully
demonstrate operation of our fuel designs in commercial reactor conditions, we
will not be certain about the ability of the fuel we design to perform as
expected. In addition, there is also a risk that suitable testing facilities may
not be available to us on a timely basis or at a reasonable cost, which could
cause development program schedule delays. </P>
<P align=justify style="text-indent:5%">We will also have to enter into a
commercial arrangement with a fuel fabricator to produce fuel using our designs.
</P>
<P align=justify style="text-indent:5%">If our fuel designs do not
perform as anticipated in commercial reactor conditions, we will not realize
revenues from licensing or other use of our fuel designs. </P>
<P align=justify style="text-indent:5%"><STRONG><EM>Potential competitors
could limit opportunities to license our technology. </EM></STRONG></P>
<P align=justify style="text-indent:5%">Part of our strategy is to
partner with major fuel fabricators through technology licensing arrangements.
However, these fuel fabricators may potentially develop new nuclear fuel designs
that can be used in the same types of reactors as those that we target. Existing
fuel fabricators also have established commercial connections to nuclear power
facilities that we do not have. If these types of companies were to compete with
our nuclear fuel design technology, opportunities to license our technology
would be limited. </P>
<P align=justify style="text-indent:5%">Moreover, many of these fuel
fabricators have substantially greater financial, technological, managerial and
research and development resources and experience than we do. These larger
companies may be better able to handle the corresponding long-term financial
requirements. </P>
<P align=justify style="text-indent:5%"><B><I>We serve the nuclear power
industry, which is highly regulated. Our fuel designs differ from fuels
currently licensed and used by commercial nuclear power plants. The regulatory
licensing and approval process for nuclear power plants to use our fuels may be
delayed and made more costly, and industry acceptance of our fuels may be
hampered. </I></B></P>
<P align=justify style="text-indent:5%">The nuclear power industry is a
highly regulated industry. All entities that operate nuclear facilities and
transport nuclear materials are subject to the jurisdiction of the US Nuclear
Regulatory Commission, or its counterparts around the world. </P>
<P align=justify style="text-indent:5%">Our fuel designs differ
significantly in some aspects from the fuel used today by commercial nuclear
power plants. These differences will likely result in more prolonged and
extensive review by the US Nuclear Regulatory Commission or its counterparts
around the world that could cause development program schedule delays. Entities
within the nuclear industry may be hesitant to be the first to use our fuel,
which has little or no history of successful commercial use. Furthermore, our
fuel development timeline relies on the relevant nuclear regulator to accept and
approve technical information and documentation about our fuel that is generated
during the research and development program. There is a risk that regulators may require additional information
regarding the fuel&#146;s behavior or performance that necessitates additional,
unplanned analytical and/or experimental work which could cause program schedule
delays and require more research and development funding. </P>
<P align=center>11 </P>
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<P align=justify style="text-indent:5%"><B><I>Existing commercial nuclear
infrastructure in many countries is limited to uranium material enrichments up
to 5%. Our metallic fuel is enriched to higher levels which would require
modifications to existing commercial nuclear infrastructure and could impede
commercialization of our technology. </I></B></P>
<P align=justify style="text-indent:5%">Existing commercial nuclear
infrastructure, including conversion facilities, enrichment facilities,
fabrication facilities, fuel storage facilities, fuel handling procedures, fuel
operation at reactor sites, used fuel storage facilities and shipping
containers, were designed and are currently licensed to handle uranium
enrichment up to 5%. Our fuel designs are expected to have enrichment levels up
to 19.7% and would therefore require certain modifications to existing
commercial nuclear infrastructure to enable commercial nuclear facilities to
handle our fuels. Those nuclear facilities will need to go through a regulatory
licensing process and obtain regulatory approvals to be able to handle uranium
with enrichment levels up to 19.7% and operate commercial reactors using our
fuel. There is a risk that some relevant entities within the nuclear power
industry may be slow in making any required facility infrastructure
modifications or obtaining required licenses or approvals to handle our fuel or
operate commercial reactors using our fuel. There is also a risk associated with
possible negative perception of uranium enrichment greater than 5% that could
potentially delay or hinder regulatory approval of our nuclear fuel designs.
</P>
<P align=justify style="text-indent:5%">Our nuclear fuel designs rely on
fabrication technologies that in certain material ways are different from the
fabrication techniques presently utilized by existing commercial fuel
fabricators. In particular, our metallic fuel rods must be produced using a
co-extrusion fabrication process. Presently, most commercial nuclear fuel is
produced using a pellet fabrication technology, whereby uranium oxide is packed
into small pellets that are stacked and sealed inside metallic tubes. Our
co-extrusion fabrication technology involves extrusion of a single-piece solid
fuel rod from a metallic matrix containing uranium and zirconium alloy.
Fabrication of full-length (approximately 3.5 to 4.5 meters) PWR metallic fuel
rods has yet to be demonstrated. There is a risk that the fuel fabrication
process utilized to produce one meter long metallic fuel rods may not be
adaptable to the fabrication of full-length metallic fuel rods used in
commercial reactors. </P>
<P align=justify style="text-indent:5%"><B><I>Our plans to develop our
fuel designs depend on our ability to acquire the rights to the designs, data,
processes, and methodologies that are used or may be used in our business in the
future. If we are unable to obtain such rights on reasonable terms in the future
or develop our own know-how necessary for fabrication of our nuclear fuel
designs, our ability to exploit our intellectual property may be limited.
</I></B></P>
<P align=justify style="text-indent:5%">We do not currently possess all
of the necessary know-how or have licensing or other rights to acquire or
utilize certain designs, data, methodologies, or processes required for the
fabrication of our fuel assemblies. If we, or a fuel fabricator to which we
license our fuel technology, desires to utilize such existing processes or
methodologies in the future, a license or other right to use such technologies
from other entities that previously developed and own such technologies would be
required. Alternatively, we would have to develop our own know-how necessary for
fabrication of our metallic fuel rods and fuel assembly components. Nuclear
operators typically seek diversity of fuel supply and may be hesitant to use a
fuel product that is only available from a single supplier. If we are unable to
obtain a license or other right to acquire or utilize certain processes or
develop our own know-how required for the fabrication of our metallic fuel rods
and fuel assembly components, or there is only a single supplier of our fuel
assemblies, then we may not be able to fully exploit our intellectual property
and may be hindered in the sale of our fuel products and services. </P>
<P align=center>12 </P>
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<P align=justify style="text-indent:5%"><B><I>Some of our nuclear
engineering work is performed by individual consultants based in Russia, making
it subject to political uncertainties relating to Russia and US.-Russian
relations. </I></B></P>
<P align=justify style="text-indent:5%">Some of our nuclear engineering
work is performed by individual consultants based in Russia. Our nuclear
engineering operations conducted in Russia are subject to various political
risks and uncertainties inherent in the country of Russia. If US-Russia
relations deteriorate, the Russian government may decide to scale back or even
cease completely its cooperation with the United States on various international
projects, including nuclear power technology development programs, or the US
government may decide to impose sanctions or other legal restrictions preventing
US businesses from doing business in Russia. If this should happen, nuclear
engineering activities performed by our Russian consultants could be scaled back
or shut down, which could cause development program schedule delays and may
require additional funding to hire nuclear engineering consultants with similar
skills outside Russia. In October 2014, we signed an Initial Cooperation
Agreement with Canadian Nuclear Laboratories (CNL) for fabrication and loop
irradiation testing of Lightbridge-designed nuclear fuel samples in Canada, and
in September 2015, we signed a Comprehensive Nuclear Services Agreement with CNL
providing the framework to proceed with test fuel sample fabrication at CNL&#146;s
facilities in Chalk River. On November 12, 2014, we received a US export
authorization letter from the National Nuclear Security Administration of the US
Department of Energy approving our proposed scope of work in Canada. We intend
to continue pursuing a strategy of shifting the most critical elements of our
R&amp;D activities away from Russia to mitigate Russia political risk. </P>
<P align=justify style="text-indent:5%"><B><I>Our plans to develop our
fuel technology depend on the renewal of the 123 Agreement between the United
States and Norway. If the 123 Agreement is not renewed, we may suffer program
schedule delays, which could have a detrimental impact on our operations.
</I></B></P>
<P align=justify style="text-indent:5%">In October 2014, we announced the
signing of an Initial Cooperation Agreement with Canadian Nuclear Laboratories
(CNL), formerly known as AECL &#150; Chalk River Laboratories, in Canada to perform
fabrication and loop irradiation testing of Lightbridge-designed fuel samples at
CNL&#146;s existing facilities at Chalk River, ON, Canada. At the time of the
announcement of the Initial Cooperation Agreement, our preference was for all of
the proposed work to take place at a single location in Chalk River, Ontario,
Canada. Subsequently, on February 9, 2015, the Canadian government made an
official decision to extend the operating life of the National Research
Universal reactor at Chalk River from 2016 through March 31, 2018. This shorter
than expected operating life extension would not be able to accommodate all of
our anticipated schedule for irradiation testing of our metallic fuel samples.
Shipping partially irradiated fuel samples from Canada to another research
reactor in a different country would entail significantly higher shipping costs,
longer timelines, and more challenging transportation logistics. As a result,
our current plan is to work with CNL on fabrication of our fuel samples at their
Chalk River facilities, with full irradiation of the fabricated fuel samples to
be performed in a pressurized water loop of the Halden research reactor located
in Halden, Norway. The operating license of the Halden research reactor has
recently been renewed through 2020 which would allow us to maintain our proposed
irradiation testing schedule. Our current plan is to have post-irradiation
examination of the irradiated fuel samples performed on the same site in Norway
or to utilize additional nearby hot cell facilities located in Studsvik, Sweden
that are operated by the Swedish company Studsvik AB. </P>
<P align=justify style="text-indent:5%">In February 2015, in response to
our request for guidance, the National Nuclear Security Administration of the US
Department of Energy, or NNSA, confirmed that the proposed activities relating
to fabrication, irradiation testing and post-irradiation examination of our fuel
samples as outlined in our revised plan are generally authorized. However, the
NNSA supplementally stated that a transfer of our fuel samples to Norway would
not be possible until the &#147;123 Agreement&#148; between the United States and Norway
was renewed. A &#147;123 Agreement&#148; is required under Section 123 of the U.S. Atomic
Energy Act for significant transfers of nuclear material, equipment, or
components from the United States to another nation. The State Department and
Norway are presently negotiating the renewal of the 123 Agreement. However, if the 123 Agreement
between the United States and Norway is not renewed by the time our fuel samples
are fabricated and ready for shipment (currently expected around the end of
2016), we may risk program schedule delays. Such delays could disrupt our fuel
technology development plans, which may have a detrimental impact on the results
of our operations.</P>
<P align=center>13 </P>
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<P align=justify style="text-indent:5%"><B><I>If the US Department of
Energy (&#147;DOE&#148;) were to successfully assert that an invention claimed within our
2007 or 2008 Patent Cooperation Treaty, or PCT, patent applications was first
conceived or actually reduced to practice under a contract with the DOE, then
our intellectual property rights in that invention could become compromised and
our business model could become significantly impeded. </I></B></P>
<P align=justify style="text-indent:5%">Work on finite aspects and/or
testing of some subject matter disclosed in our 2007 and 2008 Russian PCT patent
applications was done under a government contract with the DOE. If the DOE
asserted that an invention claimed in the 2007 and/or 2008 Russian PCT
applications was first conceived or actually reduced to practice under such a
contract, and a US court agreed, the DOE could gain an ownership interest in
such an invention outside of the Russian Federation and our intellectual
property rights in that claimed invention could become compromised and our
business model may then be significantly impeded. </P>
<P align=justify style="text-indent:5%"><B><I>If we are unable to obtain
or maintain intellectual property rights relating to our technology, the
commercial value of our technology may be adversely affected, which could in
turn adversely affect our business, financial condition and results of
operations. </I></B></P>
<P align=justify style="text-indent:5%">Our success and ability to
compete depends in part upon our ability to obtain protection in the United
States and other countries for our nuclear fuel designs by establishing and
maintaining intellectual property rights relating to or incorporated into our
fuel technologies and products. We own a variety of patents and patent
applications in the United States, as well as corresponding patents and patent
applications in several other jurisdictions. We have not obtained patent
protection in each market in which we plan to compete. We do not know how
successful we would be should we choose to assert our patents against suspected
infringers. Our pending and future patent applications may not issue as patents
or, if issued, may not issue in a form that will be advantageous to us. Even if
issued, patents may be challenged, narrowed, invalidated, or circumvented, which
could limit our ability to stop competitors from marketing similar products or
limit the length of term of patent protection we may have for our products.
Changes in either patent laws or in interpretations of patent laws in the United
States and other countries may diminish the value of our intellectual property
or narrow the scope of our patent protection, which could in turn adversely
affect our business, financial condition and results of operations. </P>
<P align=justify style="text-indent:5%"><B><I>If we infringe or are
alleged to infringe intellectual property rights of third parties, our business,
financial condition and results of operations could be adversely affected.
</I></B></P>
<P align=justify style="text-indent:5%">Our nuclear fuel designs may
infringe, or be claimed to infringe, patents or patent applications under which
we do not hold licenses or other rights. Third parties may own or control these
patents and patent applications in the United States and elsewhere. Third
parties could bring claims against us that would cause us to incur substantial
expenses and, if successfully asserted against us, could cause us to pay
substantial damages. If a patent infringement suit were brought against us, we
could be forced to stop or delay commercialization of the fuel design or a
component thereof that is the subject of the suit. As a result of patent
infringement claims, or in order to avoid potential claims, we may choose or be
required to seek a license from the third party and be required to pay license
fees, royalties, or both. These licenses may not be available on acceptable
terms, or at all. Even if we were able to obtain a license, the rights may be
nonexclusive, which could result in our competitors gaining access to the same
intellectual property. Ultimately, we could be forced to cease some aspect of
our business operations if, as a result of actual or threatened patent
infringement claims, we are unable to enter into licenses on acceptable terms.
</P>
<P align=center>14 </P>
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<P align=justify>This could significantly and adversely affect our business,
financial condition, and results of operations. In addition to infringement
claims against us, we may become a party to other types of patent litigation and
other proceedings, including interference proceedings declared by the United
States Patent and Trademark Office regarding intellectual property rights with
respect to our nuclear fuel designs. The cost to us of any patent litigation or
other proceeding, even if resolved in our favor, could be substantial. Some of
our competitors may be able to sustain the costs of such litigation or
proceedings more effectively than we can because of their greater financial
resources. Uncertainties resulting from the initiation and continuation of
patent litigation or other proceedings could have a material adverse effect on
our ability to compete in the marketplace. Patent litigation and other
proceedings may also absorb significant management time. </P>
<P align=justify style="text-indent:5%"><B><I>Our nuclear fuel process is
dependent on outside suppliers of nuclear and other materials and any difficulty
by a fuel fabricator in obtaining these materials could be detrimental to our
ability to eventually market our fuel through a fuel fabricator. </I></B></P>
<P align=justify style="text-indent:5%">Production of fuel assemblies
using our nuclear fuel designs is dependent on the ability of fuel fabricators
to obtain supplies of nuclear material utilized in our fuel assembly design.
Fabricators will also need to obtain metal for components, particularly
zirconium or its alloys. These materials are regulated and can be difficult to
obtain or may have unfavorable pricing terms. Any difficulties in obtaining
these materials by fuel fabricators could have a material adverse effect on
their ability to market fuel based on our technology. </P>
<P align=justify style="text-indent:5%"><B><I>Applicable Russian
intellectual property law may be inadequate to protect some of our intellectual
property, which could have a material adverse effect on our business.
</I></B></P>
<P align=justify style="text-indent:5%">Intellectual property rights are
evolving in Russia, and are trending towards international norms, but are by no
means fully developed. We have worked closely with employees in Russia and other
Russian contractors and entities to develop some of our material intellectual
property. Some of our earlier intellectual property rights originate from our
patent filings in Russia. Our worldwide rights in some of this intellectual
property, therefore, may be affected by Russian intellectual property laws. If
the application of Russian laws to some of our intellectual property rights
proves inadequate, then we may not be able to fully avail ourselves of all of
our intellectual property, and our business model may be impeded. </P>
<P align=justify><B>Risks Associated With Our Consulting Activities. </B></P>
<P align=justify style="text-indent:5%"><B><I>Our inability to attract
business from new clients, maintain current levels of business, or retain our
existing clients could have a material adverse effect on us. </I></B></P>
<P align=justify style="text-indent:5%">We expect that many of our future
client engagement agreements will be terminable by our clients with little or no
notice and without penalty. Some of our work may involve multiple engagements or
stages. In those engagements, there is a risk that a client may choose not to
retain us for additional stages of an engagement or that a client will cancel or
delay additional planned engagements. In addition, a small number of existing
clients account for a majority of our consulting revenues, the loss of any one
of which would have a material adverse effect on our results of operations. Some
of our existing clients reduced their utilization of our consulting services
beginning in 2013. Our current consulting clients are not contractually
obligated to purchase a certain level of services from us and may significantly
reduce their utilization of our services, resulting in a material reduction in
revenue. </P>
<P align=center>15 </P>
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<P align=justify style="text-indent:5%"><B><I>Our future profitability
will suffer if we are not able to maintain current pricing and utilization
rates. </I></B></P>
<P align=justify style="text-indent:5%">Our revenue, and our
profitability, will be largely based on the billing rates charged to clients and
the number of hours our professionals work on client engagements, which we
define as the &#147;utilization&#148; of our professionals. Accordingly, if we are not
able to maintain the pricing for our services or an appropriate utilization rate
for our professionals, revenues, project profit margins and our future
profitability will suffer. </P>
<P align=justify style="text-indent:5%">Bill rates and utilization rates
are affected by a number of factors, including:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">our ability to predict future demand for
      services and maintain the appropriate headcount and minimize the number of
      underutilized personnel; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">our clients&#146; perceptions of our ability to add
      value through our services; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">our competitors&#146; pricing for similar services;
    </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">the market demand for our services; and </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;</TD>
    <TD align=left width="90%" >&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">our ability to manage significantly larger and
      more diverse workforces as we increase the number of our professionals and
      execute our growth strategies. </TD></TR></TABLE>
<P align=justify style="text-indent:5%"><B><I>Unsuccessful future client
engagements could result in damage to our professional reputation or legal
liability, which could have a material adverse effect on us. </I></B></P>
<P align=justify style="text-indent:5%">Our professional reputation and
that of our personnel is critical to our ability to successfully compete for new
client engagements and attract or retain professionals. Any factors that damage
our professional reputation could have a material adverse effect on our
business. </P>
<P align=justify style="text-indent:5%">Any client engagements that we
obtain will be subject to the risk of legal liability. Any public assertion or
litigation alleging that our services were negligent or that we breached any of
our obligations to a client could expose us to significant legal liabilities,
could distract our management, and could damage our reputation. We carry
professional liability insurance, but our insurance may not cover every type of
claim or liability that could potentially arise from our engagements. The limits
of our insurance coverage may not be enough to cover a particular claim or a
group of claims, and the costs of defense. </P>
<P align=justify style="text-indent:5%"><B><I>Our results of operations
could be adversely affected by disruptions in the marketplace caused by economic
and political conditions. </I></B></P>
<P align=justify style="text-indent:5%">Global economic and political
conditions affect our clients&#146; businesses and the markets they serve. A severe
and/or prolonged economic downturn or a negative or uncertain political climate
could adversely affect our clients&#146; financial condition and the levels of
business activity engaged in by our clients and the industries we serve. Clients
could determine that discretionary projects are no longer viable or that new
projects are not advisable. This may reduce demand for our services, depress
pricing for our services, or render certain services obsolete, all of which
could have a material adverse effect on our results of operations. Changes in
global economic conditions or the regulatory or legislative landscape could also
shift demand to services for which we do not have competitive advantages, and
this could negatively affect the amount of business that we are able to obtain.
Although we have implemented cost management measures, if we are unable to
appropriately manage costs or if we are unable to successfully anticipate
changing economic and political conditions, we may be unable to effectively plan
for and respond to those changes, and our business could be negatively affected.
</P>
<P align=center>16 </P>
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<P align=center><B>THE ASPIRE CAPITAL TRANSACTION </B></P>
<P align=justify><B>General</B></P>
<P align=justify style="text-indent:5%">On September 4, 2015, we entered
into the Purchase Agreement which provides that, upon the terms and subject to
the conditions and limitations set forth therein, Aspire Capital is committed to
purchase up to an aggregate of $10.0 million of our shares of common stock over
the term of the Purchase Agreement. In consideration for entering into the
Purchase Agreement, concurrently with the execution of the Purchase Agreement,
we issued to Aspire Capital the 300,000 Commitment Shares. Concurrently with
entering into the Purchase Agreement, we also entered into the Registration
Rights Agreement, in which we agreed to file one or more registration statements
as permissible and necessary to register under the Securities Act, the sale of
the shares of our common stock that have been and may be issued to Aspire
Capital under the Purchase Agreement.</P>
<P align=justify style="text-indent:5%">As of October 5, 2015, there
were  18,523,423 shares of our common stock outstanding (17,626,275 shares
held by non-affiliates). If all of such 5,730,200 shares of our common stock
offered hereby were issued and outstanding as of the date hereof, such shares
would represent  23.9% of the total common stock outstanding or 24.9% of the
non-affiliate shares of common stock outstanding as of the date hereof. The
aggregate number of shares that we can issue to Aspire Capital under the
Purchase Agreement may in no case exceed 3,614,766 shares of our common stock
(which is equal to approximately 19.99% of the common stock outstanding on the
date of the Purchase Agreement), unless (i) stockholder approval is obtained to
issue more than such 19.99%, or (ii) stockholder approval has not been obtained
and at any time the 3,614,766 share limitation is reached and at all times
thereafter the average price paid for all shares issued under the Purchase
Agreement (including the 300,000 Commitment Shares) is equal to or greater than
$0.95, the Minimum Price, a price equal to the closing sale price of our common
stock on the business date of the execution of the Purchase Agreement; provided
that at no one point in time shall Aspire Capital (together with its affiliates)
beneficially own more than 19.99% of our then issued and outstanding shares of
common stock. </P>
<P align=justify style="text-indent:5%">Pursuant to the Purchase
Agreement and the Registration Rights Agreement, we are registering 5,730,200
shares of our common stock under the Securities Act, which includes the 300,000
Commitment Shares that have already been issued to Aspire Capital and 5,430,200
shares of common stock which we may issue to Aspire Capital after this
registration statement is declared effective under the Securities Act. All
5,730,200 shares of common stock are being offered pursuant to this prospectus.
Under the Purchase Agreement, we have the right but not the obligation to issue
more than the 5,730,200 shares of common stock included in this prospectus to
Aspire Capital. As of the date hereof, we do not have any plans or intent to
issue to Aspire Capital any shares of common stock in addition to the 5,730,200
shares of common stock offered hereby.</P>
<P align=justify style="text-indent:5%">After the Securities and Exchange
Commission has declared effective the registration statement of which this
prospectus is a part, on any trading day on which the closing sale price of our
common stock is not less than $0.10 per share, we have the right, in our sole
discretion, to present Aspire Capital with a Purchase Notice, directing Aspire
Capital (as principal) to purchase up to 100,000 shares of our common stock per
business day, up to $10.0 million of our common stock in the aggregate at a
Purchase Price calculated by reference to the prevailing market price of our
common stock over the preceding 12-business day period (as more specifically
described below).</P>
<P align=justify style="text-indent:5%">In addition, on any date on which
we submit a Purchase Notice to Aspire Capital for 100,000 Purchase Shares and
out stock price is not less than $0.10 per share, we also have the right, in our
sole discretion, to present Aspire Capital with a VWAP Purchase Notice directing
Aspire Capital to purchase an amount of stock equal to up to 30% of the
aggregate shares of the Company&#146;s common stock traded on the NASDAQ Capital Market on the next trading day, subject to
the VWAP Purchase Share Volume Maximum and the VWAP Minimum Price Threshold. The
VWAP Purchase Price is calculated by reference to the prevailing market price of
our common stock (as more specifically described below).</P>
<P align=center>17 </P>
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<P align=justify style="text-indent:5%">There are no trading volume
requirements or restrictions under the Purchase Agreement, and we will control
the timing and amount of any sales of our common stock to Aspire Capital. Aspire
Capital has no right to require any sales by us, but is obligated to make
purchases from us as we direct in accordance with the Purchase Agreement. There
are no limitations on use of proceeds, financial or business covenants,
restrictions on future fundings, rights of first refusal, participation rights,
penalties or liquidated damages in the Purchase Agreement. Aspire Capital may
not assign its rights or obligations under the Purchase Agreement.</P>
<P align=justify><B>Purchase of Shares under the Purchase Agreement</B></P>
<P align=justify style="text-indent:5%">Under the Purchase Agreement, on
any trading day selected by us on which the closing sale price of our common
stock equals or exceeds $0.10 per share, we may direct Aspire Capital to
purchase up to 100,000 shares of our common stock per trading day. The Purchase
Price of such shares is equal to the lesser of:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">the lowest sale price of our common stock on
      the purchase date; or </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">the arithmetic average of the three lowest
      closing sale prices for our common stock during the twelve consecutive
      trading days ending on the trading day immediately preceding the purchase
      date. </TD></TR></TABLE>
<P align=justify style="text-indent:5%">In addition, on any date on which
we submit a Purchase Notice to Aspire Capital for purchase of 100,000 shares, we
also have the right to direct Aspire Capital to purchase an amount of stock
equal to up to 30% of the aggregate shares of our common stock traded on the
NASDAQ Capital Market on the next trading day, subject to the VWAP Purchase
Share Volume Maximum and the VWAP Minimum Price Threshold, which is equal to the
greater of (a) 80% of the closing price of the Company&#146;s common stock on the
business day immediately preceding the VWAP Purchase Date or (b) such higher
price as set forth by the Company in the VWAP Purchase Notice. The VWAP Purchase
Price of such shares is the lower of:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >&nbsp;</TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">the closing sale price on the VWAP Purchase
      Date; or </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">95% of the volume-weighted average price for
      our common stock traded on the NASDAQ Capital Market:
</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="10%"  ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="85%">on the VWAP Purchase Date, if the aggregate
      shares to be purchased on that date have not exceeded the VWAP Purchase
      Share Volume Maximum; or </TD></TR>
  <TR>
    <TD width="10%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="85%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="10%" ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="85%">during that portion of the VWAP Purchase Date
      until such time as the sooner to occur of (i) the time at which the
      aggregate shares traded on the NASDAQ Capital Market exceed the VWAP
      Purchase Share Volume Maximum or (ii) the time at which the sale price of
      the Company&#146;s common stock falls below the VWAP Minimum Price Threshold.
    </TD></TR></TABLE>
<P align=justify style="text-indent:5%">The purchase price will be
adjusted for any reorganization, recapitalization, non-cash dividend, stock
split, or other similar transaction occurring during the trading day(s) used to
compute the purchase price. We may deliver multiple Purchase Notices and VWAP
Purchase Notices to Aspire Capital from time to time during the term of the
Purchase Agreement, so long as the most recent purchase has been completed.</P>
<P align=center>18 </P>
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<P align=justify><B>Minimum Share Price</B></P>
<P align=justify style="text-indent:5%">Under the Purchase Agreement, we
and Aspire Capital may not effect any sales of shares of our common stock under
the Purchase Agreement on any trading day that the closing sale price of our
common stock is less than $0.10 per share.</P>
<P align=justify><B>Events of Default</B></P>
<P align=justify style="text-indent:5%">Generally, Aspire Capital may
terminate the Purchase Agreement upon the occurrence of any of the following
events of default:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">the effectiveness of any registration statement
      that is required to be maintained effective pursuant to the terms of the
      Registration Rights Agreement between us and Aspire Capital lapses for any
      reason (including, without limitation, the issuance of a stop order) or is
      unavailable to Aspire Capital for sale of our shares of common stock, and
      such lapse or unavailability continues for a period of ten consecutive
      business days or for more than an aggregate of thirty business days in any
      365-day period, which is not in connection with a post-effective amendment
      to any such registration statement; in connection with any post-effective
      amendment to such registration statement that is required to be declared
      effective by the SEC, such lapse or unavailability may continue for a
      period of no more than 30 consecutive business days, with an extension for
      up to an additional 30 days if we receive a comment letter from the SEC in
      connection with such post- effective amendment; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">the suspension from trading or failure of our
      common stock to be listed on our principal market for a period of three
      consecutive business days; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">the delisting of our common stock from the
      NASDAQ Capital Market, and the Company&#146;s common stock is not immediately
      thereafter trading on the New York Stock Exchange, the NYSE MKT, the
      Nasdaq Global Select Market, the Nasdaq Global Market, the OTB Bulletin
      Board or the OTCQB marketplace or OTCQX marketplace of the OTC Markets
      Group; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">our transfer agent&#146;s failure to issue to Aspire
      Capital shares of our common stock which Aspire Capital is entitled to
      receive under the Purchase Agreement within five business days after an
      applicable purchase date; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">any breach by us of any representation,
      warranty, covenant or other term or condition contained in the Purchase
      Agreement or any related agreement which could have a material adverse
      effect on us, subject to a cure period of five business days; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">if we become insolvent or are generally unable
      to pay our debts as they become due; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">any participation or threatened participation
      in insolvency or bankruptcy proceedings by or against us; or </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">if the aggregate number of shares of common
      stock issued to Aspire Capital under the Purchase Agreement exceeds
      3,614,766 (which is equal to approximately 19.99% of the common stock
      outstanding on the date of the Purchase Agreement), unless and until
      stockholder approval is obtained or we can otherwise continue to issue
      shares under the Purchase Agreement without breaching the Company&#146;s
      obligations under the rules or regulations of the NASDAQ Capital Market.
    </TD></TR></TABLE>
<P align=justify><B>Our Termination Rights</B></P>
<P align=justify style="text-indent:5%">The Purchase Agreement may be
terminated by us at any time, at our discretion, without any penalty or cost to
us.</P>
<P align=center>19 </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_24></A>
<P align=justify><B>No Short-Selling or Hedging by Aspire Capital</B></P>
<P align=justify style="text-indent:5%">Aspire Capital has agreed that
neither it nor any of its agents, representatives and affiliates shall engage in
any direct or indirect short-selling or hedging of our common stock during any
time prior to the termination of the Purchase Agreement.</P>
<P align=justify><B>Effect of Performance of the Purchase Agreement on Our
Stockholders</B></P>
<P align=justify style="text-indent:5%">The Purchase Agreement does not
limit the ability of Aspire Capital to sell any or all of the 5,730,200 shares
registered in this offering. It is anticipated that shares registered in this
offering will be sold over a period of up to approximately 24 months from the
date of this prospectus. The sale by Aspire Capital of a significant amount of
shares registered in this offering at any given time could cause the market
price of our common stock to decline and/or to be highly volatile. Aspire
Capital may ultimately purchase all, some or none of the 5,430,200 shares of
common stock not yet issued but registered in this offering. After it has
acquired such shares, it may sell all, some or none of such shares. Therefore,
sales to Aspire Capital by us pursuant to the Purchase Agreement also may result
in substantial dilution to the interests of other holders of our common stock.
However, we have the right to control the timing and amount of any sales of our
shares to Aspire Capital and the Purchase Agreement may be terminated by us at
any time at our discretion without any penalty or cost to us.</P>
<P align=justify><B>Percentage of Outstanding Shares After Giving Effect to the
Purchased Shares Issued to Aspire Capital</B></P>
<P align=justify style="text-indent:5%">In connection with entering into
the Purchase Agreement, we authorized the sale to Aspire Capital of up to $10.0
million of our shares of common stock. However, we estimate that we will sell no
more the 5,730,200 shares to Aspire Capital under the Purchase Agreement
(including the 300,000 Commitment Shares), all of which are included in this
offering. Subject to any required approval by our board of directors, we have
the right but not the obligation to issue more than the 5,730,200 shares
included in this prospectus to Aspire Capital under the Purchase Agreement. In
the event we elect to issue more than 5,730,200 shares under the Purchase
Agreement, we will be required to file a new registration statement and have it
declared effective by the SEC. The number of shares ultimately offered for sale
by Aspire Capital in this offering is dependent upon the number of shares
purchased by Aspire Capital under the Purchase Agreement. The following table
sets forth the number and percentage of outstanding shares to be held by Aspire
Capital after giving effect to the sale of shares of common stock issued to
Aspire Capital at varying purchase prices:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 height="149">

  <TR vAlign=top>
    <TD noWrap align=center height="15"><B>Assumed</B> </TD>
    <TD noWrap align=center width="1%" height="15"  ></TD>
    <TD noWrap align=center width="23%" height="15"><B>Shares to Aspire Capital</B> </TD>
    <TD noWrap align=center width="1%" height="15"  ></TD>
    <TD noWrap align=center width="23%" height="15"><B>Number of Shares to be</B> </TD>
    <TD noWrap align=center width="2%" height="15"  ></TD>
    <TD noWrap align=center width="23%" height="15"><B>Percentage of Outstanding</B>
</TD></TR>
  <TR vAlign=top>
    <TD noWrap align=center height="15"><B>Average</B> </TD>
    <TD noWrap align=center width="1%" height="15"  ></TD>
    <TD noWrap align=center width="23%" height="15"><B>Under the Purchase</B> </TD>
    <TD noWrap align=center width="1%" height="15"  ></TD>
    <TD noWrap align=center width="23%" height="15"><B>Issued in this Offering at</B> </TD>
    <TD noWrap align=center width="2%" height="15"  ></TD>
    <TD noWrap align=center width="23%" height="15"><B>Shares After Giving Effect to</B>
    </TD></TR>
  <TR vAlign=top>
    <TD noWrap align=center height="15"><B>Purchase</B> </TD>
    <TD noWrap align=center width="1%" height="15"  ></TD>
    <TD noWrap align=center width="23%" height="15"><B>Agreement Registered in this</B>
</TD>
    <TD noWrap align=center width="1%" height="15"  ></TD>
    <TD noWrap align=center width="23%" height="15"><B>the Assumed Average</B> </TD>
    <TD noWrap align=center width="2%" height="15"  ></TD>
    <TD noWrap align=center width="23%" height="15"><B>the Purchased Shares Issued</B>
  </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap
      align=center height="16"><B>Price</B> </TD>
    <TD noWrap align=center width="1%" height="16"  ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
      width="23%" height="16"><B>Offering</B> </TD>
    <TD noWrap align=center width="1%" height="16"  ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
      width="23%" height="16"><B>Purchase Price (1)</B> </TD>
    <TD noWrap align=center width="2%" height="16"  ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
      width="23%" height="16"><B>to Aspire Capital (2)</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left height="15" bgcolor="#E6EFFF">$0.10 </TD>
    <TD align=left width="1%" height="15" bgcolor="#E6EFFF"  >&nbsp;</TD>
    <TD align=center width="23%" height="15" bgcolor="#E6EFFF">$543,020 </TD>
    <TD align=center width="1%" height="15" bgcolor="#E6EFFF"  >&nbsp;</TD>
    <TD align=center width="23%" height="15" bgcolor="#E6EFFF">5,430,200 </TD>
    <TD align=center width="2%" height="15" bgcolor="#E6EFFF"  >&nbsp;</TD>
    <TD align=center width="23%" height="15" bgcolor="#E6EFFF">23.9% </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left height="13">$0.50 </TD>
    <TD align=left width="1%" height="13"  ></TD>
    <TD align=center width="23%" height="13">$2,715,000 </TD>
    <TD align=center width="1%" height="13"  ></TD>
    <TD align=center width="23%" height="13">5,430,200 </TD>
    <TD align=center width="2%" height="13"  ></TD>
    <TD align=center width="23%" height="13">23.9% </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left height="15" bgcolor="#E6EFFF">$1.00 </TD>
    <TD align=left width="1%" height="15" bgcolor="#E6EFFF"  ></TD>
    <TD align=center width="23%" height="15" bgcolor="#E6EFFF">$5,430,200 </TD>
    <TD align=center width="1%" height="15" bgcolor="#E6EFFF"  ></TD>
    <TD align=center width="23%" height="15" bgcolor="#E6EFFF">5,430,200 </TD>
    <TD align=center width="2%" height="15" bgcolor="#E6EFFF"  ></TD>
    <TD align=center width="23%" height="15" bgcolor="#E6EFFF">23.9% </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left height="15">$2.00 </TD>
    <TD align=left width="1%" height="15"  ></TD>
    <TD align=center width="23%" height="15">$10,000,000 </TD>
    <TD align=center width="1%" height="15"  ></TD>
    <TD align=center width="23%" height="15">5,000,000 </TD>
    <TD align=center width="2%" height="15"  ></TD>
    <TD align=center width="23%" height="15">22.5% </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left height="15" bgcolor="#E6EFFF">$4.00 </TD>
    <TD align=left width="1%" height="15" bgcolor="#E6EFFF"  ></TD>
    <TD align=center width="23%" height="15" bgcolor="#E6EFFF">$10,000,000 </TD>
    <TD align=center width="1%" height="15" bgcolor="#E6EFFF"  ></TD>
    <TD align=center width="23%" height="15" bgcolor="#E6EFFF">2,500,000 </TD>
    <TD align=center width="2%" height="15" bgcolor="#E6EFFF"  ></TD>
    <TD align=center width="23%" height="15" bgcolor="#E6EFFF">13.3% </TD>
  </TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>Excludes the 300,000 Commitment Shares issued under the
      Purchase Agreement between the Company and Aspire
  Capital.</P></TD></TR>
  <tr>
    <TD vAlign=top width="5%">&nbsp;</TD>
    <TD>&nbsp;
      </TD>
  </tr>
  <tr>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>The denominator is based on  18,523,423 shares
      outstanding as of October 5, 2015, which includes the 300,000
      Commitment Shares issued to Aspire Capital, and the number of shares set
      forth in the adjacent column which we would have sold to Aspire Capital at
      the corresponding assumed purchase price set forth in the adjacent column.
      The numerator is based on the number of shares which we may issue to
      Aspire Capital under the Purchase Agreement that are included in this
      prospectus at the corresponding assumed purchase price set forth in the
adjacent column.</P></TD>
  </tr>
</TABLE>
<P align=center>20 </P>
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noShade SIZE=5>
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<P align=center><B>USE OF PROCEEDS </B></P>
<P align=justify style="text-indent:5%">This prospectus relates to shares
of our common stock that may be offered and sold from time to time by Aspire
Capital. We will not receive any proceeds upon the sale of shares by Aspire
Capital. However, we may receive proceeds up to $10.0 million under the Purchase
Agreement with Aspire Capital. The proceeds received from the sale of the shares
under the Purchase Agreement will be used for working capital and general
corporate purposes. This anticipated use of net proceeds from the sale of our
common stock to Aspire Capital under the Purchase Agreement represents our
intentions based upon our current plans and business conditions.</P>
<P align=center><B>PRICE RANGE OF COMMON STOCK AND DIVIDEND POLICY</B></P>
<P align=justify style="text-indent:5%">Our common stock is traded on the
NASDAQ Capital Market under the symbol &#147;LTBR.&#148; The last reported sale price of
our common stock on October 15, 2015 on the NASDAQ Capital Market was $1.03 per share. The following table sets forth the high and low sale prices
for our common stock for the periods indicated as reported on the NASDAQ Capital
Market. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD noWrap align=left>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
      width="15%">High </TD>
    <TD noWrap align=center width="2%"  >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
      width="15%">Low </TD></TR>
  <TR vAlign=top>
    <TD noWrap align=left><B>Year Ended December 31, 2013:</B> </TD>
    <TD noWrap align=left width="15%">&nbsp; </TD>
    <TD noWrap align=left width="2%"  >&nbsp;</TD>
    <TD noWrap align=left width="15%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left bgcolor="#E6EFFF">&nbsp; &nbsp; &nbsp;First Quarter </TD>
    <TD align=center width="15%" bgcolor="#E6EFFF">$2.50 </TD>
    <TD align=center width="2%" bgcolor="#E6EFFF"  >&nbsp;</TD>
    <TD align=center width="15%" bgcolor="#E6EFFF">$1.29 </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp; &nbsp;Second Quarter </TD>
    <TD align=center width="15%">$1.85 </TD>
    <TD align=center width="2%"  >&nbsp;</TD>
    <TD align=center width="15%">$1.35 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgcolor="#E6EFFF">&nbsp; &nbsp; &nbsp;Third Quarter </TD>
    <TD align=center width="15%" bgcolor="#E6EFFF">$3.28 </TD>
    <TD align=center width="2%" bgcolor="#E6EFFF"  >&nbsp;</TD>
    <TD align=center width="15%" bgcolor="#E6EFFF">$1.50 </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp; &nbsp;Fourth Quarter </TD>
    <TD align=center width="15%">$2.25 </TD>
    <TD align=center width="2%"  >&nbsp;</TD>
    <TD align=center width="15%">$1.32 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgcolor="#E6EFFF"><B>Year Ended December 31, 2014:</B> </TD>
    <TD align=center width="15%" bgcolor="#E6EFFF">&nbsp; </TD>
    <TD align=center width="2%" bgcolor="#E6EFFF"  >&nbsp;</TD>
    <TD align=center width="15%" bgcolor="#E6EFFF">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp; &nbsp;First Quarter </TD>
    <TD align=center width="15%">$3.79 </TD>
    <TD align=center width="2%"  >&nbsp;</TD>
    <TD align=center width="15%">$1.47 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgcolor="#E6EFFF">&nbsp; &nbsp; &nbsp;Second Quarter </TD>
    <TD align=center width="15%" bgcolor="#E6EFFF">$2.88 </TD>
    <TD align=center width="2%" bgcolor="#E6EFFF"  >&nbsp;</TD>
    <TD align=center width="15%" bgcolor="#E6EFFF">$1.94 </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp; &nbsp;Third Quarter </TD>
    <TD align=center width="15%">$3.54 </TD>
    <TD align=center width="2%"  >&nbsp;</TD>
    <TD align=center width="15%">$2.25 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgcolor="#E6EFFF">&nbsp; &nbsp; &nbsp;Fourth Quarter </TD>
    <TD align=center width="15%" bgcolor="#E6EFFF">$2.37 </TD>
    <TD align=center width="2%" bgcolor="#E6EFFF"  >&nbsp;</TD>
    <TD align=center width="15%" bgcolor="#E6EFFF">$1.52 </TD></TR>
  <TR vAlign=top>
    <TD align=left><B>Year Ended December 31, 2015:</B> </TD>
    <TD align=center width="15%">&nbsp; </TD>
    <TD align=center width="2%"  >&nbsp;</TD>
    <TD align=center width="15%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left bgcolor="#E6EFFF">&nbsp; &nbsp; &nbsp;First Quarter </TD>
    <TD align=center width="15%" bgcolor="#E6EFFF">$1.84 </TD>
    <TD align=center width="2%" bgcolor="#E6EFFF"  >&nbsp;</TD>
    <TD align=center width="15%" bgcolor="#E6EFFF">$1.03 </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp; &nbsp;Second Quarter </TD>
    <TD align=center width="15%">$2.92 </TD>
    <TD align=center width="2%"  >&nbsp;</TD>
    <TD align=center width="15%">$1.09 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgcolor="#E6EFFF">&nbsp; &nbsp; &nbsp;Third Quarter </TD>
    <TD align=center width="15%" bgcolor="#E6EFFF">$1.41 </TD>
    <TD align=center width="2%" bgcolor="#E6EFFF"  >&nbsp;</TD>
    <TD align=center width="15%" bgcolor="#E6EFFF">$0.75 </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; &nbsp; &nbsp;Fourth Quarter (through October 15,
    2015) </TD>
    <TD align=center width="15%">$1.06 </TD>
    <TD align=center width="2%"  >&nbsp;</TD>
    <TD align=center width="15%">$0.75 </TD></TR></TABLE>
<P align=justify style="text-indent:5%">As of October 15, 2015, there were
approximately 109 holders of record of our common stock. </P>
<P align=justify style="text-indent:5%">We have never declared or paid
cash dividends. We currently intend to retain and use any future earnings for
the development and expansion of our business and do not plan to pay any cash
dividends in the foreseeable future. Any future determination to pay dividends
will be at the discretion of our board of directors. </P>
<P align=center>21 </P>
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<P align=center><B>DILUTION</B></P>
<P align=justify style="text-indent:5%">If you acquire shares of our
common stock from Aspire Capital in this offering, your ownership interest will
be diluted to the extent of the difference between the public offering price per
share and the as adjusted net tangible book value per share after giving effect
to this offering. We calculate net tangible book value per share by dividing the
net tangible book value, which is tangible assets less total liabilities, by the
number of outstanding shares of our common stock. Dilution represents the
difference between the portion of the amount per share paid by purchasers of
shares in this offering and the as-adjusted net tangible book value per share of
our common stock immediately after giving effect to this offering. Our net
tangible book value as of June 30, 2015 was approximately $2.7 million, or $0.15
per share. </P>
<P align=justify style="text-indent:5%">After giving effect to (i) the
issuance of the 300,000 Commitment Shares, and (ii) the sale of 3,314,766 shares
of common stock (the maximum number of additional Purchase Shares that can be
sold so as not to exceed 19.99% of our outstanding common stock on the date of
the Purchase Agreement) in the aggregate amount of $3.1 million at an assumed
offering price of $0.95 per share, the last reported sale price of our common
stock on the NASDAQ Capital Market on October 9, 2015, and after deducting
estimated aggregate offering expenses payable by us, our net tangible book value
as of June 30, 2015 would have been approximately $5.8 million, or $0.27 per
share of common stock. This represents an immediate increase in the net tangible
book value of $0.12 per share to our existing stockholders and an immediate
dilution in net tangible book value of $0.68 per share to investors
participating in this offering. </P>
<P align=justify style="text-indent:5%">The following table illustrates
this per share dilution:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD noWrap align=left bgcolor="#E6EFFF">Assumed offering price per share </TD>
    <TD noWrap align=right width="12%" bgcolor="#E6EFFF"></TD>
    <TD noWrap align=right width="2%" bgcolor="#E6EFFF"  >&nbsp;</TD>
    <TD noWrap align=right width="12%" bgcolor="#E6EFFF">$ 0.95&nbsp;&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD noWrap align=left>Net tangible book value per share as of June 30,
      2015 </TD>
    <TD noWrap align=right width="12%">$ 0.15 </TD>
    <TD noWrap align=left width="2%"  >&nbsp;</TD>
    <TD noWrap align=left width="12%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgcolor="#E6EFFF">Increase per share attributable to investors participating
      in this offering </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right width="12%" bgcolor="#E6EFFF">$ 0.12
    </TD>
    <TD align=left width="2%" bgcolor="#E6EFFF"  >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left
    width="12%" bgcolor="#E6EFFF">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>As adjusted net tangible book value per share as of June
      30, 2015, after giving effect to this offering </TD>
    <TD align=right width="12%"></TD>
    <TD align=right width="2%"  >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="12%">0.27&nbsp;&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left bgcolor="#E6EFFF">Dilution per share to investors participating shares in
      this offering </TD>
    <TD align=right width="12%" bgcolor="#E6EFFF"></TD>
    <TD align=right width="2%" bgcolor="#E6EFFF"  >&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right width="12%" bgcolor="#E6EFFF">$
      0.68&nbsp;&nbsp;</TD></TR></TABLE>
<P align=justify style="text-indent:5%">The shares sold in this offering
(including the 300,000 Commitment Shares), if any, will be sold from time to
time at various prices. An increase of $0.25 per share in the price at which the
shares are sold from the assumed offering price of $0.95 per share shown in the
table above, assuming 3,314,766 shares of common stock (the maximum number of
additional Purchase Shares that can be sold so as not to exceed 19.99% of our
outstanding common stock on the date of the Purchase Agreement) are sold at that
price for an aggregate amount of approximately $4.0 million, would result in an
adjusted net tangible book value per share after the offering of $0.31 per share
and would increase the dilution in net tangible book value per share to
investors in this offering to $0.89 per share, after deducting estimated
aggregate offering expenses payable by us. A decrease of $0.25 per share in the
price at which the shares are sold from the assumed offering price of $0.95 per
share shown in the table above, assuming 3,314,766 shares of common stock are
sold at that price for an aggregate amount of approximately $2.3 million, would
result in an adjusted net tangible book value per share after the offering of
$0.23 per share and would decrease the dilution in net tangible book value per
share to investors in this offering to $0.47 per share, after deducting
estimated aggregate offering expenses payable by us. This information is
supplied for illustrative purposes only. </P>
<P align=justify style="text-indent:5%">The foregoing table and
discussion is based on 18,082,874 shares of common stock outstanding as of June
30, 2015 and assumes no exercise of any outstanding options or warrants. To the
extent that options or warrants are exercised, there may be further dilution to
new investors. </P>
<P align=center>22 </P>
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<P align=center><B>DESCRIPTION OF CAPITAL STOCK</B></P>
<P align=justify style="text-indent:5%">The following description of our
capital stock and provisions of our articles of incorporation, bylaws and the
Nevada corporations law are summaries and are qualified in their entirety by
reference to the articles of incorporation and the bylaws. We have filed copies
of these documents with the SEC as exhibits to our registration statement, of
which this prospectus forms a part. Pursuant to the Company&#146;s Articles of
Incorporation, as amended, the Company&#146;s authorized capital stock consists of
500,000,000 shares of common stock, par value of $0.001 per share, and
50,000,000 shares of preferred stock, par value $0.001 per share, to be
designated from time to time by our board.</P>
<P align=justify><B>Common Stock</B></P>
<P align=justify style="text-indent:5%">We are authorized to issue up to
500,000,000 shares of common stock, par value $0.001 per share. Each outstanding
share of common stock entitles the holder thereof to one vote per share on all
matters. Our bylaws provide that elections for directors shall be by a plurality
of votes. Stockholders do not have preemptive rights to purchase shares in any
future issuance of our common stock. Upon our liquidation, dissolution or
winding up, and after payment of creditors and preferred stockholders, if any,
our assets will be divided pro-rata on a share-for-share basis among the holders
of the shares of common stock. </P>
<P align=justify style="text-indent:5%">The holders of shares of our
common stock are entitled to dividends out of funds legally available when and
as declared by our board of directors. Our board of directors has never declared
a dividend and does not anticipate declaring a dividend in the foreseeable
future. Should we decide in the future to pay dividends, as a holding company,
our ability to do so and meet other obligations depends upon the receipt of
dividends or other payments from our operating subsidiary and other holdings and
investments. In addition, our operating subsidiary, from time to time, may be
subject to restrictions on its ability to make distributions to us, including as
a result of restrictive covenants in loan agreements, restrictions on the
conversion of local currency into U.S. dollars or other hard currency and other
regulatory restrictions. </P>
<P align=justify style="text-indent:5%">All of the issued and outstanding
shares of our common stock are duly authorized, validly issued, fully paid and
non-assessable. To the extent that additional shares of our common stock are
issued, the relative interests of existing stockholders will be diluted. </P>
<P align=justify style="text-indent:5%">As of October 5, 2015, there
were  18,523,423 shares of our common stock outstanding. </P>
<P align=justify><B>Preferred Stock</B></P>
<P align=justify style="text-indent:5%">We are authorized to issue up to
50,000,000 shares of preferred stock, par value $0.001 per share, in one or more
classes or series within a class as may be determined by our board of directors,
who may establish, from time to time, the number of shares to be included in
each class or series, may fix the designation, powers, preferences and rights of
the shares of each such class or series and any qualifications, limitations or
restrictions thereof. Any preferred stock so issued by the board of directors
may rank senior to the common stock with respect to the payment of dividends or
amounts upon liquidation, dissolution or winding up of us, or both. Moreover,
under certain circumstances, the issuance of preferred stock or the existence of
the unissued preferred stock might tend to discourage or render more difficult a
merger or other change of control. </P>
<P align=justify style="text-indent:5%">As of October 5, 2015, there
were no shares of our preferred stock outstanding. </P>
<P align=center>23 </P>
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<P align=justify><B>Anti-Takeover Effects of Our Articles of Incorporation and
Bylaws</B></P>
<P align=justify style="text-indent:5%">Our articles of incorporation and
bylaws contain certain provisions that may have anti-takeover effects, making it
more difficult for or preventing a third party from acquiring control of the
Company or changing its board of directors and management. According to our
articles of incorporation and bylaws, neither the holders of our common stock
nor the holders of any preferred stock we may issue in the future have
cumulative voting rights in the election of our directors. The combination of
the present ownership by a few stockholders of a significant portion of our
issued and outstanding common stock and lack of cumulative voting makes it more
difficult for other stockholders to replace our board of directors or for a
third party to obtain control of the Company by replacing its board of
directors. </P>
<P align=justify><B>Anti-Takeover Effects of Nevada Law</B></P>
<P align=justify><B><I>Business Combinations</I></B></P>
<P align=justify style="text-indent:5%">The &#147;business combination&#148;
provisions of Sections 78.411 to 78.444, inclusive, of the Nevada Revised
Statutes, or NRS, generally prohibit a Nevada corporation with at least 200
stockholders from engaging in various &#147;combination&#148; transactions with any
interested stockholder for a period of two years after the date of the
transaction in which the person became an interested stockholder, unless the
transaction is approved by the board of directors prior to the date the
interested stockholder obtained such status or the combination is approved by
the board of directors and thereafter is approved at a meeting of the
stockholders by the affirmative vote of stockholders representing at least 60%
of the outstanding voting power held by disinterested stockholders, and extends
beyond the expiration of the two-year period, unless:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">the combination was approved by the board of
      directors prior to the person becoming an interested stockholder or the
      transaction by which the person first became an interested stockholder was
      approved by the board of directors before the person became an interested
      stockholder or the combination is later approved by a majority of the
      voting power held by disinterested stockholders; or </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">if the consideration to be paid by the
      interested stockholder is at least equal to the highest of: (a) the
      highest price per share paid by the interested stockholder within the two
      years immediately preceding the date of the announcement of the
      combination or in the transaction in which it became an interested
      stockholder, whichever is higher, (b) the market value per share of common
      stock on the date of announcement of the combination and the date the
      interested stockholder acquired the shares, whichever is higher, or (c)
      for holders of preferred stock, the highest liquidation value of the
      preferred stock, if it is higher. </TD></TR></TABLE>
<P align=justify style="text-indent:5%">A &#147;combination&#148; is generally
defined to include mergers or consolidations or any sale, lease exchange,
mortgage, pledge, transfer, or other disposition, in one transaction or a series
of transactions, with an &#147;interested stockholder&#148; having: (a) an aggregate
market value equal to 5% or more of the aggregate market value of the assets of
the corporation, (b) an aggregate market value equal to 5% or more of the
aggregate market value of all outstanding shares of the corporation, (c) 10% or
more of the earning power or net income of the corporation, and (d) certain
other transactions with an interested stockholder or an affiliate or associate
of an interested stockholder. </P>
<P align=justify style="text-indent:5%">In general, an &#147;interested
stockholder&#148; is a person who, together with affiliates and associates, owns (or
within two years, did own) 10% or more of a corporation&#146;s voting stock. The
statute could prohibit or delay mergers or other takeover or change in control
attempts and, accordingly, may discourage attempts to acquire our Company even
though such a transaction may offer our stockholders the opportunity to sell
their stock at a price above the prevailing market price. </P>
<P align=center>24 </P>
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<P align=justify style="text-indent:5%">Our articles of incorporation
state that we have elected not to be governed by the &#147;business combination&#148;
provisions, therefore such provisions currently do not apply to us. </P>
<P align=justify><B><I>Control Share Acquisitions</I></B></P>
<P align=justify style="text-indent:5%">The &#147;control share&#148; provisions of
Sections 78.378 to 78.3793, inclusive, of the NRS apply to &#147;issuing
corporations&#148; that are Nevada corporations with at least 200 stockholders,
including at least 100 stockholders of record who are Nevada residents, and that
conduct business directly or indirectly in Nevada. The control share statute
prohibits an acquirer, under certain circumstances, from voting its shares of a
target corporation&#146;s stock after crossing certain ownership threshold
percentages, unless the acquirer obtains approval of the target corporation&#146;s
disinterested stockholders. The statute specifies three thresholds: one-fifth or
more but less than one-third, one-third but less than a majority, and a majority
or more, of the outstanding voting power. Generally, once an acquirer crosses
one of the above thresholds, those shares in an offer or acquisition and
acquired within 90 days thereof become &#147;control shares&#148; and such control shares
are deprived of the right to vote until disinterested stockholders restore the
right. These provisions also provide that if control shares are accorded full
voting rights and the acquiring person has acquired a majority or more of all
voting power, all other stockholders who do not vote in favor of authorizing
voting rights to the control shares are entitled to demand payment for the fair
value of their shares in accordance with statutory procedures established for
dissenters&#146; rights. </P>
<P align=justify style="text-indent:5%">A corporation may elect to not be
governed by, or &#147;opt out&#148; of, the control share provisions by making an election
in its articles of incorporation or bylaws, provided that the opt-out election
must be in place on the 10th day following the date an acquiring person has
acquired a controlling interest, that is, crossing any of the three thresholds
described above. We have not opted out of the control share statutes, and will
be subject to these statutes if we are an &#147;issuing corporation&#148; as defined in
such statutes. </P>
<P align=justify style="text-indent:5%">The effect of the Nevada control
share statutes is that the acquiring person, and those acting in association
with the acquiring person, will obtain only such voting rights in the control
shares as are conferred by a resolution of the stockholders at an annual or
special meeting. The Nevada control share law, if applicable, could have the
effect of discouraging takeovers of our Company. </P>
<P align=justify><B>Transfer Agent and Registrar</B></P>
<P align=justify style="text-indent:5%">Our independent stock transfer
agent is Computershare Trust Company, located at 350 Indiana Street, Golden,
Colorado 80401. Their phone number is (303) 262-0600. </P>
<P align=center><B>SELLING SHAREHOLDER </B></P>
<P align=justify style="text-indent:5%">The selling shareholder may from
time to time offer and sell any or all of the shares of our common stock set
forth below pursuant to this prospectus. When we refer to the &#147;selling
shareholder&#148; in this prospectus, we mean the entity listed in the table below,
and its respective pledgees, donees, permitted transferees, assignees,
successors and others who later come to hold any of the selling shareholder&#146;s
interests in shares of our common stock other than through a public sale.</P>
<P align=justify style="text-indent:5%">The following table sets forth,
as of the date of this prospectus, the name of the selling shareholder for whom
we are registering shares for sale to the public, the number of shares of common
stock beneficially owned by the selling shareholder prior to this offering, the
total number of shares of common stock that the selling shareholder may offer
pursuant to this prospectus and the number of shares of common stock that the
selling shareholder will beneficially own after this offering. Except as noted
below, the selling shareholder does not have, or within the past three years has
not had, any material relationship with us or any of our predecessors or affiliates and the selling
shareholder is not or was not affiliated with registered broker-dealers.</P>
<P align=center>25 </P>
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<P align=justify style="text-indent:5%">Based on the information provided
to us by the selling shareholder, assuming that the selling shareholder sells
all of the shares of our common stock beneficially owned by it that have been
registered by us and does not acquire any additional shares during the offering,
the selling shareholder will not own any shares other than those appearing in
the column entitled &#147;Shares Beneficially Owned After Offering.&#148; We cannot advise
you as to whether the selling shareholder will in fact sell any or all of such
shares of common stock. In addition, the selling shareholder may have sold,
transferred or otherwise disposed of, or may sell, transfer or otherwise dispose
of, at any time and from time to time, the shares of our common stock in
transactions exempt from the registration requirements of the Securities Act
after the date on which it provided the information set forth in the table
below.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD noWrap align=left>&nbsp; </TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=center width="19%" colSpan=4><B>Shares Beneficially</B>
    </TD>
    <TD noWrap align=center width="2%">&nbsp;</TD>
    <TD noWrap align=center width="1%">&nbsp;</TD>
    <TD noWrap align=center width="8%"><B>Number of</B> </TD>
    <TD noWrap align=center width="2%">&nbsp;</TD>
    <TD noWrap align=center width="1%">&nbsp;</TD>
    <TD noWrap align=center width="19%" colSpan=4><B>Shares Beneficially</B>
    </TD>
    <TD noWrap align=center width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD noWrap align=left>&nbsp; </TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center width="19%"
    colSpan=4><B>Owned Prior to Offering</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
    width="2%">&nbsp;</TD>
    <TD noWrap align=center width="1%">&nbsp;</TD>
    <TD noWrap align=center width="8%"><B>Shares Being</B> </TD>
    <TD noWrap align=center width="2%">&nbsp;</TD>
    <TD noWrap align=center width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center width="19%"
    colSpan=4>
      <P><STRONG>Owned After Offering(1)</STRONG> </P></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
    width="2%"></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap
      align=center>&nbsp;<B>Name</B> </TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
      width="8%"><B>Number</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
    width="2%">&nbsp;</TD>
    <TD noWrap align=center width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
      width="8%"><B>%</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
    width="2%">&nbsp;</TD>
    <TD noWrap align=center width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
      width="8%"><B>Offered</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
    width="2%">&nbsp;</TD>
    <TD noWrap align=center width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
      width="8%"><B>Number</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
    width="2%">&nbsp;</TD>
    <TD noWrap align=center width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
      width="8%"><B>%</B> </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
    width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left bgcolor="#E6EFFF">Aspire Capital
      Fund, LLC(2) </TD>
    <TD align=left width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD align=center width="8%" bgcolor="#E6EFFF">400,966</TD>
    <TD align=center width="2%" bgcolor="#E6EFFF">(3) </TD>
    <TD align=center width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD align=center width="8%" bgcolor="#E6EFFF">2.2% </TD>
    <TD align=center width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD align=center width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD align=center width="8%" bgcolor="#E6EFFF">5,730,200 </TD>
    <TD align=center width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD align=center width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD align=center width="8%" bgcolor="#E6EFFF">100,966 </TD>
    <TD align=center width="2%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD align=center width="1%" bgcolor="#E6EFFF">&nbsp;</TD>
    <TD align=center width="8%" bgcolor="#E6EFFF">*% </TD>
    <TD align=center width="2%" bgcolor="#E6EFFF">&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD align=center width="8%">&nbsp; </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="1%">&nbsp;</TD>
    <TD align=center width="8%">&nbsp; </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="1%">&nbsp;</TD>
    <TD align=center width="8%">&nbsp; </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="1%">&nbsp;</TD>
    <TD align=center width="8%">&nbsp; </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=center width="1%">&nbsp;</TD>
    <TD align=center width="8%">&nbsp; </TD>
    <TD align=center width="2%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD align=left>*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less than 1%. </TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=left width="8%">&nbsp; </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=left width="8%">&nbsp; </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=left width="8%">&nbsp; </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=left width="8%">&nbsp; </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=left width="8%">&nbsp; </TD>
    <TD align=left width="2%">&nbsp;</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(1) </TD>
    <TD>
      <P align=justify>Assumes the sale of all shares of common stock registered
      pursuant to this prospectus, although the selling shareholder is under no
      obligation known to us to sell any shares of common stock at this
    time.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(2) </TD>
    <TD>
      <P align=justify>Aspire Capital Partners LLC (Aspire Partners) is the
      Managing Member of Aspire Capital Fund LLC (Aspire Capital). SGM Holdings
      Corp (SGM) is the Managing Member of Aspire Partners. Mr. Steven G. Martin
      is the president and sole shareholder of SGM, as well as a principal of
      Aspire Partners. Mr. Erik J. Brown is the president and sole shareholder
      of Red Cedar Capital Corp (Red Cedar), which is a principal of Aspire
      Partners. Mr. Christos Komissopoulos is president and sole shareholder of
      Chrisko Investors Inc. (Chrisko), which is a principal of Aspire Partners.
      Each of Aspire Partners, SGM, Red Cedar, Chrisko, Mr. Martin, Mr. Brown,
      and Mr. Komissopoulos may be deemed to be a beneficial owner of common
      stock held by Aspire Capital. Each of Aspire Partners, SGM, Red Cedar,
      Chrisko, Mr. Martin, Mr. Brown, and Mr. Komissopoulos disclaims beneficial
      ownership of the common stock held by Aspire Capital. Aspire Capital is
      not a licensed broker dealer nor is any of its affiliate a licensed broker
      dealer.</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(3) </TD>
    <TD>
      <P align=justify>As of the date hereof, 400,966 shares of our common stock
      have been acquired by Aspire Capital, including 100,966 shares that Aspire
      Capital purchased in the open market and 300,000 shares acquired under the
      Purchase Agreement, consisting of the shares we issued to Aspire Capital
      as a commitment fee. We may elect in our sole discretion to sell to Aspire
      Capital up to an additional 5,430,200 shares under the Purchase Agreement
      and included in this prospectus but Aspire Capital does not presently
      beneficially own those shares as determined in accordance with the rules
      of the SEC.</P></TD></TR></TABLE>
<P align=center><B>PLAN OF DISTRIBUTION</B> </P>
<P align=justify style="text-indent:5%">The common stock offered by this
prospectus is being offered by Aspire Capital, the selling shareholder. The
common stock may be sold or distributed from time to time by the selling
shareholder directly to one or more purchasers or through brokers, dealers, or
underwriters who may act solely as agents at market prices prevailing at the
time of sale, at prices related to the prevailing market prices, at negotiated
prices, or at fixed prices, which may be changed. The sale of the common stock
offered by this prospectus may be effected in one or more of the following
methods:</P>
<P align=center>26 </P>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  >
      <P align=justify>&nbsp;</P></TD>
    <TD align=left >
      <P align=justify>&#149;</P></TD>
    <TD align=left width="90%">
      <P align=justify>ordinary brokers&#146; transactions; </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;
      </TD>
    <TD align=left >&nbsp;
      </TD>
    <TD align=left width="90%">&nbsp;
      </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >
      <P align=justify>&nbsp;</P></TD>
    <TD align=left >
      <P align=justify>&#149;</P></TD>
    <TD align=left width="90%">
      <P align=justify>transactions involving cross or block trades; </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;
      </TD>
    <TD align=left >&nbsp;
      </TD>
    <TD align=left width="90%">&nbsp;
      </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >
      <P align=justify>&nbsp;</P></TD>
    <TD align=left >
      <P align=justify>&#149;</P></TD>
    <TD align=left width="90%">
      <P align=justify>through brokers, dealers, or underwriters who may act
      solely as agents; </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;
      </TD>
    <TD align=left >&nbsp;
      </TD>
    <TD align=left width="90%">&nbsp;
      </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >
      <P align=justify>&nbsp;</P></TD>
    <TD align=left >
      <P align=justify>&#149;</P></TD>
    <TD align=left width="90%">
      <P align=justify>&#147;at the market&#148; into an existing market for the common
      stock; </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&nbsp;
      </TD>
    <TD align=left width="90%">&nbsp;
      </TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >
      <P align=justify>&#149;</P></TD>
    <TD align=left width="90%">
      <P align=justify>in other ways not involving market makers or established
      business markets, including direct sales to purchasers or sales effected
      through agents; </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;
      </TD>
    <TD align=left >&nbsp;
      </TD>
    <TD align=left width="90%">&nbsp;
      </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >
      <P align=justify>&nbsp;</P></TD>
    <TD align=left >
      <P align=justify>&#149;</P></TD>
    <TD align=left width="90%">
      <P align=justify>in privately negotiated transactions; or </P></TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;
      </TD>
    <TD align=left >&nbsp;
      </TD>
    <TD align=left width="90%">&nbsp;
      </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >
      <P align=justify>&nbsp;</P></TD>
    <TD align=left >
      <P align=justify>&#149;</P></TD>
    <TD align=left width="90%">
      <P align=justify>any combination of the foregoing.
</P></TD></TR></TABLE>
<P align=justify style="text-indent:5%">In order to comply with the
securities laws of certain states, if applicable, the shares may be sold only
through registered or licensed brokers or dealers. In addition, in certain
states, the shares may not be sold unless they have been registered or qualified
for sale in the state or an exemption from the registration or qualification
requirement is available and complied with.</P>
<P align=justify style="text-indent:5%">The selling shareholder may also
sell shares of common stock under Rule 144 promulgated under the Securities Act,
if available, rather than under this prospectus. In addition, the selling
shareholder may transfer the shares of common stock by other means not described
in this prospectus.</P>
<P align=justify style="text-indent:5%">Brokers, dealers, underwriters,
or agents participating in the distribution of the shares as agents may receive
compensation in the form of commissions, discounts, or concessions from the
selling shareholder and/or purchasers of the common stock for whom the
broker-dealers may act as agent. Aspire Capital has informed us that each such
broker-dealer will receive commissions from Aspire Capital which will not exceed
customary brokerage commissions.</P>
<P align=justify style="text-indent:5%">Aspire Capital is an
&#147;underwriter&#148; within the meaning of the Securities Act.</P>
<P align=justify style="text-indent:5%">Neither we nor Aspire Capital can
presently estimate the amount of compensation that any agent will receive. We
know of no existing arrangements between Aspire Capital, any other shareholder,
broker, dealer, underwriter, or agent relating to the sale or distribution of
the shares offered by this prospectus. At the time a particular offer of shares
is made, a prospectus supplement, if required, will be distributed that will set
forth the names of any agents, underwriters, or dealers and any compensation
from the selling shareholder, and any other required information. Pursuant to a
requirement of the Financial Industry Regulatory Authority, or FINRA, the
maximum commission or discount and other compensation to be received by any
FINRA member or independent broker-dealer shall not be greater than eight
percent (8%) of the gross proceeds received by us for the sale of any securities
being registered pursuant to Rule 415 under the Securities Act.</P>
<P align=justify style="text-indent:5%">We will pay all of the expenses
incident to the registration, offering, and sale of the shares to the public
other than commissions or discounts of underwriters, broker-dealers, or agents.
We have agreed to indemnify Aspire Capital and certain other persons against
certain liabilities in connection with the offering of shares of common stock
offered hereby, including liabilities arising under the Securities Act or, if
such indemnity is unavailable, to contribute amounts required to be paid in
respect of such liabilities. Aspire Capital has agreed to indemnify us against
liabilities under the Securities Act that may arise from certain written
information furnished to us by Aspire Capital specifically for use in this
prospectus or, if such indemnity is unavailable, to contribute amounts required
to be paid in respect of such liabilities.</P>
<P align=center>27 </P>
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<P align=justify style="text-indent:5%">Insofar as indemnification for
liabilities arising under the Securities Act may be permitted to our directors,
officers, and controlling persons, we have been advised that in the opinion of
the SEC this indemnification is against public policy as expressed in the
Securities Act and is therefore, unenforceable.</P>
<P align=justify style="text-indent:5%">Aspire Capital and its affiliates
have agreed not to engage in any direct or indirect short selling or hedging of
our common stock during the term of the Purchase Agreement.</P>
<P align=justify style="text-indent:5%">We have advised Aspire Capital
that while it is engaged in a distribution of the shares included in this
prospectus it is required to comply with Regulation M promulgated under the
Securities Exchange Act of 1934, as amended. With certain exceptions, Regulation
M precludes the selling shareholder, any affiliated purchasers, and any
broker-dealer or other person who participates in the distribution from bidding
for or purchasing, or attempting to induce any person to bid for or purchase any
security which is the subject of the distribution until the entire distribution
is complete. Regulation M also prohibits any bids or purchases made in order to
stabilize the price of a security in connection with the distribution of that
security. All of the foregoing may affect the marketability of the shares
offered hereby this prospectus.</P>
<P align=justify style="text-indent:5%">We may suspend the sale of shares
by Aspire Capital pursuant to this prospectus for certain periods of time for
certain reasons, including if the prospectus is required to be supplemented or
amended to include additional material information.</P>
<P align=justify style="text-indent:5%">This offering will terminate on
the date that all shares offered by this prospectus have been sold by Aspire
Capital.</P>
<P align=center><B>LEGAL MATTERS</B></P>
<P align=justify style="text-indent:5%">Gary R. Henrie, Las Vegas,
Nevada, has passed upon the validity of the common stock offered hereby. </P>
<P align=center><B>EXPERTS</B></P>
<P align=justify style="text-indent:5%">The consolidated financial
statements of the Company for the years ended December 31, 2014 and 2013
incorporated in this prospectus by reference have been audited by Anderson
Bradshaw PLLC, an independent registered public accounting firm, and are
incorporated in reliance upon their report dated March 25, 2015, given upon such
firm&#146;s authority as experts in auditing and accounting. </P>
<P align=center><B>WHERE YOU CAN FIND ADDITIONAL INFORMATION</B></P>
<P align=justify style="text-indent:5%">We are subject to the reporting
requirements of the Exchange Act and file annual, quarterly and current reports,
proxy statements and other information with the SEC. You may read and copy these
reports, proxy statements and other information at the SEC&#146;s public reference
facilities at 100 F Street, N.E., Room 1580, Washington, D.C. 20549. You can
request copies of these documents by writing to the SEC and paying a fee for the
copying cost. Please call the SEC at 1-800-SEC-0330 for more information about
the operation of the public reference facilities. SEC filings are also available
at the SEC&#146;s website at <I>www.sec.gov</I>. </P>
<P align=justify style="text-indent:5%">This prospectus forms part of a
registration statement on Form S-1 filed by us with the SEC under the Securities
Act. As permitted by the SEC, this prospectus does not contain all the
information in the registration statement filed with the SEC. For a more
complete understanding of this offering, you should refer to the complete
registration statement, including the exhibits thereto, on Form S-1 that may be
obtained as described above. Statements contained or incorporated by reference
in this prospectus or any prospectus supplement about the contents of any contract or
other document are not necessarily complete. If we have filed any contract or
other document as an exhibit to the registration statement or any other document
incorporated by reference in the registration statement of which this prospectus
forms a part, you should read the exhibit for a more complete understanding of
the document or matter involved. Each statement regarding a contract or other
document is qualified in its entirety by reference to the actual document. </P>
<P align=center>28 </P>
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<P align=center><B>INCORPORATION OF CERTAIN INFORMATION BY REFERENCE</B></P>
<P align=justify style="text-indent:5%">The SEC allows us to &#147;incorporate
by reference&#148; in this prospectus certain of the information we file with the
SEC. This means we can disclose important information to you by referring you to
another document that has been filed separately with the SEC. The information
incorporated by reference is considered to be a part of this prospectus. We
incorporate by reference the documents listed below that we have previously
filed with the SEC, except we are not incorporating by reference any information
furnished (but not filed) under Item 2.02 or Item 7.01 of any Current Report on
Form 8-K and corresponding information furnished under Item 9.01 as an exhibit
thereto:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">our Annual Report on Form 10-K for the fiscal
      year ended December 31, 2014, filed on March 25, 2015, as amended by the
      Form 10-K/A filed on April 30, 2015; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" >&nbsp;</TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">our Proxy Statement for our 2015 Annual Meeting
      of Stockholders, filed on June 12, 2015; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">our Quarterly Reports on Form 10-Q for the
      quarter ended March 31, 2015, filed on May 7, 2015, and the quarter ended
      June 30, 2015, filed on August 19, 2015; </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">our Current Reports on Form 8-K filed on
      January 30, 2015, March 27, 2015, April 10, 2015, April 13, 2015, May 18,
      2015, June 10, 2015, June 12, 2015, July 20, 2015, September 8, 2015 and
      September 14, 2015; and </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">the description of our common stock contained
      in our Registration Statement on Form 8-A filed on July 18, 2006,
      including any amendments or reports filed for the purpose of updating such
      description. </TD></TR></TABLE>
<P align=justify style="text-indent:5%">Any statements contained in a
previously filed document incorporated by reference into this prospectus is
deemed to be modified or superseded for purposes of this prospectus to the
extent that a statement contained in this prospectus modifies or supersedes that
statement. Any statement so modified or superseded will not be deemed, except as
so modified or superseded, to constitute a part of this prospectus. </P>
<P align=justify style="text-indent:5%">We will provide a copy of any or
all of the documents incorporated herein by reference upon written or oral
request from any person, including any beneficial owner, to whom a prospectus is
delivered. These documents will be provided to you at no cost by contacting:
Lightbridge Corporation, 1600 Tysons Boulevard, Suite 550, McLean, Virginia,
22102; telephone number: (571) 730-1200. You may also access the documents
incorporated by reference in this prospectus through our website at
<I>www.ltbridge.com</I>. Except for the specific incorporated documents listed
above, no information available on or through our website shall be deemed to be
incorporated in this prospectus or the registration statement of which it forms
a part. </P>
<P align=center>29 </P>
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<P align=center><IMG
src="forms1x3x1.jpg"
border=0 width="350" height="93"></P> <BR>
<P align=center><B><font size="4">5,730,200 Shares</font></B><font size="4"></P>
<P align=center></font><B><font size="4">Common Stock</font></B></P>
<DIV align=center>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="40%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-TOP: #000000 1px solid; BORDER-BOTTOM: #000000 1px solid"
    align=center><B><br>
    PROSPECTUS</B> <br>
&nbsp;</TD></TR></TABLE></DIV>
<P align=center>&nbsp;</P>
<P align=center>&nbsp;</P>
<P align=center><B>, 2015 </B></P>
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<P align=justify><B>PART II &#151; INFORMATION NOT REQUIRED IN PROSPECTUS</B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B>Item 13.</B> </TD>
    <TD align=left width="90%"><B>Other Expenses of Issuance and
      Distribution</B> </TD></TR></TABLE>
<P align=justify style="text-indent:5%">The following table sets forth
the costs and expenses payable by the Company in connection with the
registration and sale of the common stock being registered. All the amounts
shown are estimates except the SEC registration fee. </P>
<DIV align=center>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD noWrap align=left bgColor=#e6efff>SEC registration fee </TD>
    <TD noWrap align=right width="15%" bgColor=#e6efff>$560 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left>Printing expense </TD>
    <TD align=right width="15%">5,000 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Legal fees and expenses </TD>
    <TD align=right width="15%" bgColor=#e6efff>30,000 </TD></TR>
  <TR vAlign=top>
    <TD align=left>Accounting fees and expenses </TD>
    <TD align=right width="15%">5,000 </TD></TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Transfer agent fees </TD>
    <TD align=right width="15%" bgColor=#e6efff>2,000 </TD></TR>
  <TR vAlign=top>
    <TD align=left>Miscellaneous fees and expenses </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=right
      width="15%">2,440 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=left bgColor=#e6efff>Total Expenses </TD>
    <TD style="BORDER-BOTTOM: #000000 3px double" align=right width="15%"
    bgColor=#e6efff>$45,000 </TD></TR></TABLE></DIV><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B>Item 14.</B> </TD>
    <TD align=left width="90%"><B>Indemnification of Directors and
      Officers</B> </TD></TR></TABLE>
<P align=justify style="text-indent:5%">We are a Nevada corporation and
generally governed by the Nevada Private Corporations Code, Title 78 of the
Nevada Revised Statutes, or NRS. </P>
<P align=justify style="text-indent:5%">Section 78.138 of the NRS
provides that, unless the corporation&#146;s articles of incorporation provide
otherwise, a director or officer will not be individually liable unless it is
proven that (i) the director&#146;s or officer&#146;s acts or omissions constituted a
breach of his or her fiduciary duties, and (ii) such breach involved intentional
misconduct, fraud or a knowing violation of the law. </P>
<P align=justify style="text-indent:5%">Section 78.7502 of the NRS
permits a Nevada corporation to indemnify its directors and officers against
expenses, judgments, fines, and amounts paid in settlement actually and
reasonably incurred in connection with a threatened, pending, or completed
action, suit, or proceeding, except an action by or on behalf of the
corporation, if the officer or director (i) is not liable pursuant to NRS
78.138, or (ii) acted in good faith and in a manner the officer or director
reasonably believed to be in or not opposed to the best interests of the
corporation and, if a criminal action or proceeding, had no reasonable cause to
believe the conduct of the officer or director was unlawful. Section 78.7502 of
the NRS also requires a corporation to indemnify its officers and directors if
they have been successful on the merits or otherwise in defense of any claim,
issue, or matter resulting from their service as a director or officer. </P>
<P align=justify style="text-indent:5%">Section 78.751 of the NRS permits
a Nevada corporation to indemnify its officers and directors against expenses
incurred by them in defending a civil or criminal action, suit, or proceeding as
they are incurred and in advance of final disposition thereof, upon
determination by the stockholders, the disinterested board members, or by
independent legal counsel. Section 78.751 of NRS requires a corporation to
advance expenses as incurred upon receipt of an undertaking by or on behalf of
the officer or director to repay the amount if it is ultimately determined by a
court of competent jurisdiction that such officer or director is not entitled to
be indemnified by the corporation if so provided in the corporation&#146;s articles
of incorporation, bylaws, or other agreement. Section 78.751 of the NRS further
permits the corporation to grant its directors and officers additional rights of
indemnification under its articles of incorporation, bylaws or other agreement.
</P>
<P align=justify style="text-indent:5%">Section 78.752 of the NRS
provides that a Nevada corporation may purchase and maintain insurance or make
other financial arrangements on behalf of any person who is or was a director,
officer, employee or agent of the corporation, or is or was serving at the
request of the corporation as a director, officer, employee or agent of another
company, partnership, joint venture, trust or other enterprise, for any liability asserted against him and liability and expenses
incurred by him in his capacity as a director, officer, employee or agent, or
arising out of his status as such, whether or not the corporation has the
authority to indemnify him against such liability and expenses. </P>
<P align=center>II-1</P>
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<P align=justify style="text-indent:5%">Our Articles of Incorporation and
Bylaws implement the indemnification and insurance provisions permitted by
Chapter 78 of the NRS by providing that:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="5%"  ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">We shall indemnify our directors and officers
      to the fullest extent permitted by the NRS against expense, liability and
      loss reasonably incurred or suffered by them in connection with their
      service as an officer or director; and </TD></TR>
  <TR>
    <TD width="5%" >&nbsp;</TD>
    <TD >&nbsp; </TD>
    <TD width="90%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD width="5%" ></TD>
    <TD align=left >&#149;</TD>
    <TD align=left width="90%">We may purchase and maintain insurance, or make
      other financial arrangements, on behalf of any person who holds or who has
      held a position as a director, officer, or representative against
      liability, cost, payment, or expense incurred by such person.
  </TD></TR></TABLE>
<P align=justify style="text-indent:5%">At the present time, there is no
pending litigation or proceeding involving a director, officer, employee or
other agent of ours in which indemnification would be required or permitted. We
are not aware of any threatened litigation or proceeding which may result in a
claim for such indemnification. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B>Item 15.</B> </TD>
    <TD align=left width="90%"><B>Recent Sales of Unregistered Securities</B>
    </TD></TR></TABLE>
<P align=justify><I>Aspire Capital Transaction</I></P>
<P align=justify style="text-indent:5%">On September 4, 2015, the Company
entered into a Common Stock Purchase Agreement, or the Purchase Agreement, with
Aspire Capital Fund, LLC, an Illinois limited liability company, or Aspire
Capital, which provides that, upon the terms and subject to the conditions and
limitations set forth therein, Aspire Capital is committed to purchase up to an
aggregate of $10.0 million of shares of the Company&#146;s common stock (the
&#147;Purchase Shares&#148;) over the 24-month term of the Purchase Agreement.</P>
<P align=justify style="text-indent:5%">Upon execution of the Purchase
Agreement, the Company issued 300,000 shares of its common stock to Aspire
Capital in consideration for entering into the Purchase Agreement. The Purchase
Shares may be sold by the Company to Aspire Capital on any business day the
Company selects in two ways: (1) through a regular purchase of up to 100,000
shares at a known price based on the market price of our common stock prior to
the time of each sale, and (2) through a VWAP purchase of a number of shares up
to 30% of the volume traded on the purchase date at a price equal to the lessor
of the closing sale price or 95% of the volume weighted average price for such
purchase date.</P>
<P align=justify style="text-indent:5%">The issuance of the 300,000
Commitment Shares and all other shares of common stock that may be issued from
time to time to Aspire Capital under the Purchase Agreement is exempt from
registration under the Securities Act of 1933, as amended (the &#147;Securities
Act&#148;), pursuant to the exemption for transactions by an issuer not involving any
public offering under Section 4(a)(2) of the Securities Act.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B>Item 16.</B> </TD>
    <TD align=left width="90%"><B>Exhibits and Financial Statement
      Schedules</B> </TD></TR></TABLE>
<P align=justify style="text-indent:5%">The list of exhibits in the
Exhibit Index to this registration statement is incorporated herein by
reference.</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left ><B>Item 17.</B> </TD>
    <TD align=left width="90%"><B>Undertakings</B> </TD></TR></TABLE>
<P align=justify style="text-indent:5%">Insofar as indemnification for
liabilities arising under the Securities Act of 1933 may be permitted to
directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion
of the Securities and Exchange Commission such indemnification is against public
policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than
the payment by the registrant of expenses incurred or paid by a director,
officer or controlling person of the registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, the registrant will,
unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue.</P>
<P align=center>II-2</P>
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<P align=justify style="text-indent:5%">The undersigned registrant hereby
undertakes:</P>
<P align=justify style="text-indent:5%">(1) To file, during any period in
which offers or sales are being made, a post-effective amendment to this
registration statement:</P>
<P align=justify style="margin-left:5%;text-indent:5%;">(a) To include any prospectus required
by Section 10(a)(3) of the Securities Act of 1933;</P>
<P align=justify style="margin-left:5%;text-indent:5%;">(b) To
reflect in the prospectus any facts or events arising after the effective date
of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change
in the information set forth in the registration statement. Notwithstanding the
foregoing, any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated maximum
offering range may be reflected in the form of prospectus filed with the
Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume
and price represent no more than a 20 percent change in the maximum aggregate
offering price set forth in the &#147;Calculation of Registration Fee&#148; table in the
effective registration statement; and</P>
<P align=justify style="margin-left:5%;text-indent:5%;">(c) To
include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to
such information in the registration statement.</P>
<P align=justify style="text-indent:5%">(2) That, for the purpose of
determining any liability under the Securities Act of 1933, each such
post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.</P>
<P align=justify style="text-indent:5%">(3) To remove from registration
by means of a post-effective amendment any of the securities being registered
which remain unsold at the termination of this offering.</P>
<P align=justify style="text-indent:5%">(4) That, for the purpose of
determining liability under the Securities Act to any purchaser: each prospectus
filed pursuant to Rule 424(b) as part of a registration statement relating to an
offering, other than registration statements relying on Rule 430B or other than
prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and
included in the registration statement as of the date it is first used after
effectiveness; provided, however, that no statement made in a registration
statement or prospectus that is part of the registration statement or made in a
document incorporated or deemed incorporated by reference into the registration
statement or prospectus that is part of the registration statement will, as to a
purchaser with a time of contract of sale prior to such first use, supersede or
modify any statement that was made in the registration statement or prospectus
that was part of the registration statement or made in any such document
immediately prior to such date of first use.</P>
<P align=center>II-3</P>
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<P align=justify style="text-indent:5%">(5) That, for purposes of
determining any liability under the Securities Act of 1933, the information
omitted from the form of prospectus filed as part of this registration statement
in reliance upon Rule 430A and contained in a form of prospectus filed by the
registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities Act
shall be deemed to be part of this registration statement as of the time it was
declared effective.</P>
<P align=center>II-4</P>
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<P align=center><B>SIGNATURES</B></P>
<P align=justify style="text-indent:5%">Pursuant to the requirements of
the Securities Act of 1933, the registrant has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized in the City of McLean, Commonwealth of Virginia, on October 19,
2015.</P>
<DIV align=right>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="50%" border=0>

  <TR vAlign=top>
    <TD align=left colSpan=2><B>Lightbridge Corporation</B> </TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD width="96%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;By: </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="96%">/s/Seth
    Grae</TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="96%">Seth Grae </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp;</TD>
    <TD align=left width="96%">President and Chief Executive Officer
  </TD></TR></TABLE></DIV>
<P align=center><B>POWER OF ATTORNEY</B></P>
<P align=justify style="text-indent:5%">KNOW ALL MEN BY THESE PRESENTS,
that each person whose signature appears below constitutes and appoints Seth
Grae and Linda Zwobota, and each of them, his or her true and lawful
attorneys-in-fact and agents, with full power of substitution and
re-substitution, for him or her and in his or her name, place and stead, in any
and all capacities, to sign any or all amendments (including post-effective
amendments) to this registration statement (and any registration statement filed
pursuant to Rule 462(b) under the Securities Act, as amended, for the offering
which this registration statement relates), and to file the same, with all
exhibits thereto, and other documents in connection therewith, with the SEC,
granting unto said attorneys-in-fact and agents, and each of them, full power
and authority to do and perform each and every act and thing requisite and
necessary to be done in and about the premises, as fully to all intents and
purposes as he or she might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents or any of them, or their
or his or her substitute or substitutes, may lawfully do or cause to be done by
virtue hereof.<B> </B></P>
<P align=justify style="text-indent:5%">Pursuant to the requirements of
the Securities Act of 1933, this registration statement has been signed by the
following persons in the capacities and on the dates indicated. </P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B>Signature</B>
    </TD>
    <TD align=center width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="31%"><B>Title</B> </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="31%">&nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<B>Date</B> </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>
    <p align="center">&nbsp; /s/ Seth Grae</TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=center width="31%">President, Chief Executive Officer and
      Director </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=left width="31%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>
    <p align="center">&nbsp; Seth Grae </TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=left width="31%">
    <p align="center">&nbsp; (Principal Executive Officer) </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=left width="31%">October 19, 2015 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>&nbsp;</TD>
    <TD align=center width="1%">&nbsp;</TD>
    <TD align=center width="31%">&nbsp;</TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=left width="31%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>
    <p align="center">&nbsp; /s/ Linda Zwobota</TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=center width="31%">Chief Financial Officer </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=left width="31%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>
    <p align="center">&nbsp; Linda Zwobota </TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=left width="31%">
    <p align="center">&nbsp; (Principal Financial and Accounting Officer) </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=left width="31%">October 19, 2015 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>&nbsp;</TD>
    <TD align=center width="1%">&nbsp;</TD>
    <TD align=center width="31%">&nbsp;</TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=left width="31%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD align=left>&nbsp; </TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=center width="31%">&nbsp;</TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=left width="31%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center>/s/Thomas Graham,
    Jr. </TD>
    <TD align=center width="1%">&nbsp;</TD>
    <TD align=left width="31%">
    <p align="center">Chairman and Director </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=left width="31%">October 19, 2015&nbsp; </TD>
  </TR>
  <TR>
    <TD>
    <p align="center">&nbsp; Thomas Graham,
      Jr. </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>
    <p align="center">/s/Victor E. Alessi </TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=center width="31%">Director </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=left width="31%">October 19, 2015 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>Victor E. Alessi </TD>
    <TD align=center width="1%">&nbsp;</TD>
    <TD align=left width="31%">&nbsp; </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=left width="31%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>
    <p align="center">&nbsp; /s/Kathleen Kennedy Townsend</TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=center width="31%">Director </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=left width="31%">October 19, 2015 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>Kathleen Kennedy Townsend </TD>
    <TD align=center width="1%">&nbsp;</TD>
    <TD align=left width="31%">&nbsp; </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=left width="31%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD></TR>
  <TR>
    <TD>&nbsp; </TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="31%">&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>
    <p align="center">&nbsp; /s/Daniel B. Magraw</TD>
    <TD align=left width="1%">&nbsp;</TD>
    <TD align=center width="31%">Director </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=left width="31%">October 19, 2015 </TD>
  </TR>
  <TR vAlign=top>
    <TD align=center>Daniel B. Magraw </TD>
    <TD align=center width="1%">&nbsp;</TD>
    <TD align=left width="31%">&nbsp; </TD>
    <TD align=left width="2%">&nbsp;</TD>
    <TD align=left width="31%">&nbsp; </TD></TR></TABLE>
<P align=center>II-5</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<A name=page_40></A>
<P align=center><B>EXHIBIT INDEX</B></P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap
      align=center><B>Exhibit No. </B></TD>
    <TD noWrap align=center width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center
      width="87%"><B>Description </B></TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee>3.1 </TD>
    <TD align=center width="2%" bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="87%" bgColor=#eeeeee>Articles of Incorporation of
      the Company as filed with the Secretary of State of Nevada (incorporated
      by reference to Exhibit 3.1 to the Company&#146;s registration statement on
      Form SB-2 filed on December 11, 2001, File No. 333-74914). </TD></TR>
  <TR vAlign=top>
    <TD align=center>3.2 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=left width="87%">Certificate of Amendment to Articles of
      Incorporation (incorporated by reference to Exhibit 3.1 to the Company&#146;s
      Current Report on Form 8-K filed on February 13, 2006). </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee>3.3 </TD>
    <TD align=center width="2%" bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="87%" bgColor=#eeeeee>Certificate of Amendment to
      Articles of Incorporation (incorporated by reference to Appendix A to the
      Company&#146;s definitive information statement on Schedule 14C filed on July
      31, 2006). </TD></TR>
  <TR vAlign=top>
    <TD align=center>3.4 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=left width="87%">Certificate of Amendment to Articles of
      Incorporation (incorporated by reference to Exhibit 3.1 to the Company&#146;s
      Current Report on Form 8-K filed on September 25, 2009). </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee>3.5 </TD>
    <TD align=center width="2%" bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="87%" bgColor=#eeeeee>Amended and Restated Bylaws of
      the Company (incorporated by reference to Exhibit 3.2 to the Company&#146;s
      Current Report on Form 8-K filed on July 9, 2007). </TD></TR>
  <TR vAlign=top>
    <TD align=center>4.1 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=left width="87%">Registration Rights Agreement, dated September
      4, 2015, between the Company and Aspire Capital Fund, LLC (incorporated by
      reference to Exhibit 4.1 the Company&#146;s Current Report on Form 8-K filed on
      September 8, 2015). </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee>4.2 </TD>
    <TD align=center width="2%" bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="87%" bgColor=#eeeeee>Form of Common Stock Purchase
      Warrant (incorporated by reference to Exhibit 4.1 the Company&#146;s Current
      Report on Form 8-K filed on November 12, 2014). </TD></TR>
  <TR vAlign=top>
    <TD align=center>4.3 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=left width="87%">Specimen Certificate for the Company&#146;s Common
      Stock (incorporated by reference to Exhibit 4.1 to the Company&#146;s
      registration statement on Form S-3 filed on April 1, 2013, File No.
      333-187659). </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee><a href="exhibit5-1.htm">5.1*</a></TD>
    <TD align=center width="2%" bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="87%" bgColor=#eeeeee><a href="exhibit5-1.htm">Opinion of Gary R. Henrie, Esq. </a></TD></TR>
  <TR vAlign=top>
    <TD align=center>10.1 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=left width="87%">2006 Stock Plan (incorporated by reference to
      Exhibit 10.1 to the Company&#146;s Current Report on Form 8-K filed on February
      21, 2006). </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee>10.2 </TD>
    <TD align=center width="2%" bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="87%" bgColor=#eeeeee>2015 Equity Incentive Plan
      (incorporated by reference to Exhibit 10.1 to the Company&#146;s Current Report
      on Form 8-K filed on July 20, 2015). </TD></TR>
  <TR vAlign=top>
    <TD align=center>10.3 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=left width="87%">Employment Agreement, dated as of February 14,
      2006, between the Company and Seth Grae (incorporated by reference to
      Exhibit 10.2 to the Company&#146;s Current Report on Form 8-K filed on February
      21, 2006). </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee>10.4 </TD>
    <TD align=center width="2%" bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="87%" bgColor=#eeeeee>Employment Agreement, dated
      July 27, 2006, between the Company and Andrey Mushakov (incorporated by
      reference to Exhibit 10.1 of the Company&#146;s Current Report on Form 8-K
      filed on August 4, 2006). </TD></TR>
  <TR vAlign=top>
    <TD align=center>10.5 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=left width="87%">Independent Director Contract, dated August 21,
      2006, between the Company and Victor Alessi (incorporated by reference to
      Exhibit 10.1 to the Company&#146;s Current Report on Form 8-K filed on August
      25, 2006). </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee>10.6 </TD>
    <TD align=center width="2%" bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="87%" bgColor=#eeeeee>Independent Director Contract,
      dated October 10, 2013, between the Company and Kathleen Kennedy Townsend
      (incorporated by reference to Exhibit 10.5 to the Company&#146;s Annual Report
      on Form 10-K filed on March 27, 2014). </TD></TR>
  <TR vAlign=top>
    <TD align=center>10.7 </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD align=left width="87%">Independent Director Contract, dated October
      23, 2006, between the Company and Daniel B. Magraw (incorporated by
      reference to Exhibit 10.2 to the Company&#146;s Current Report on Form 8- K,
      filed on October 23, 2006). </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee>10.8 </TD>
    <TD align=center width="2%" bgColor=#eeeeee>&nbsp;</TD>
    <TD align=left width="87%" bgColor=#eeeeee>Restricted Stock Grant
      Agreement, dated July 14, 2009, between Seth Grae and the Company
      (incorporated by reference to Exhibit 10.1 to the Company&#146;s Current Report
      on Form 8-K, filed on July 20, 2009). </TD></TR></TABLE>
<P align=center>II-6</P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
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<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=center width="11%">
    <div style="border-bottom-style: solid; border-bottom-width: 1; padding-bottom: 1">
      <B>Exhibit No.</B>
    </div>
    </TD>
    <TD align=center width="2%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B>Description</B> </TD></TR>
  <TR vAlign=top>
    <TD align=center width="11%" bgcolor="#EEEEEE">10.9 </TD>
    <TD align=center width="2%" bgcolor="#EEEEEE"></TD>
    <TD align=left width="88%" bgcolor="#EEEEEE">Stock Option Agreement, dated July 14,
      2009, between Seth Grae and the Company (incorporated by reference to
      Exhibit 10.1 to the Company&#146;s Current Report on Form 8-K, filed on July
      20, 2009). </TD></TR>
  <TR vAlign=top>
    <TD align=center width="10%">10.10 </TD>
    <TD align=center></TD>
    <TD align=left width="87%">Collaboration Framework
      Agreement, dated August 3, 2009, between the Company and AREVA
      (incorporated by reference to Exhibit 10.1 to the Company&#146;s Current Report
      on Form 8-K, filed on August 6, 2009). </TD></TR>
  <TR vAlign=top>
    <TD align=center width="10%" bgcolor="#EEEEEE">10.11 </TD>
    <TD align=center bgcolor="#EEEEEE"></TD>
    <TD align=left width="88%" bgcolor="#EEEEEE">Common Stock Purchase Agreement, dated
      September 4, 2015, between the Company and Aspire Capital Fund, LLC
      (incorporated by reference to the Company&#146;s Current Report on Form 8-K
      filed on September 8, 2015). </TD></TR>
  <TR vAlign=top>
    <TD align=center width="10%"><a href="exhibit23-1.htm">23.1*</a></TD>
    <TD align=center>&nbsp;</TD>
    <TD align=left width="88%"><a href="exhibit23-1.htm">Consent of Anderson Bradshaw PLLC.</a></TD></TR>
  <TR vAlign=top>
    <TD align=center width="10%" bgcolor="#EEEEEE"><a href="exhibit5-1.htm">23.2* </a></TD>
    <TD align=center bgcolor="#EEEEEE">&nbsp;</TD>
    <TD align=left bgcolor="#EEEEEE"><a href="exhibit5-1.htm">Consent of Gary R. Henrie, Esq. (included in Exhibit 5.1). </a></TD>
  </TR>
  <TR vAlign=top>
    <TD align=center width="10%"><a href="#page_39">24 </a></TD>
    <TD align=center>&nbsp;</TD>
    <TD align=left><a href="#page_39">Power of Attorney (included on signature page hereof). </a></TD>
  </TR></TABLE>
<P align=justify>* Filed herewith.</P>
<P align=center>II-7</P>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>exhibit5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
   <TITLE>Lightbridge Corp.: Exhibit 5.1 - Filed by newsfilecorp.com</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY style="font-size:10pt;">

<HR noshade align="center" width=100% size=3 color="black">
<!--$$/page=--><A name=page_1></A><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-TOP: medium none #000000; " align=center><B>Gary R.
      Henrie</B> </TD></TR>
  <TR vAlign=bottom>
    <TD align=center>Attorney at Law </TD></TR>
  <TR vAlign=top>
    <TD align=center>Licensed in the States of Utah and Nevada
</TD></TR></TABLE><BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=left>486 W. 1360 N. </TD>
    <TD align=right width="50%">Telephone: 801-310-1419 </TD></TR>
  <TR vAlign=top>
    <TD align=left>American Fork, UT 84003 </TD>
    <TD align=right width="50%">e-mail: grhlaw@hotmail.com
</TD></TR></TABLE>
<P align=justify>October 19, 2015</P>
<P align=justify>Lightbridge Corporation<BR>1600 Tysons Blvd., Suite
550<BR>McLean, Virginia 22102</P>
<P align=justify>Re: Registration Statement on Form S-1</P>
<P align=justify>Ladies and Gentlemen:</P>
<P align=justify>We are acting as special Nevada counsel for Lightbridge
Corporation, a Nevada corporation (the &#147;<B>Company</B>&#148;), in connection with the
registration statement on Form S-1 (the &#147;<B>Registration Statement</B>&#148;) filed
by the Company with the Securities and Exchange Commission (the
&#147;<B>Commission</B>&#148;) under the Securities Act of 1933, as amended (the
&#147;<B>Act</B>&#148;), relating to the proposed public offering of up to 5,730,200
shares of the Company&#146;s common stock, $0.001 par value per share (the
&#147;<B>Shares</B>&#148;), 5,430,200 of which are reserved for issuance pursuant to a
common stock purchase agreement dated September 4, 2015 (the &#147;<B>Purchase
Agreement</B>&#148;) between the Company and Aspire Capital Fund, LLC (&#147;<B>Aspire
Capital</B>&#148;). </P>
<P align=justify>We have reviewed and are familiar with such corporate
proceedings and other matters as we have deemed necessary for this opinion. </P>
<P align=justify>In rendering the opinions set forth below, we have assumed that
(i) all information contained in all documents reviewed by us is true and
correct; (ii) all signatures on all documents examined by us are genuine; (iii)
all documents submitted to us as originals are authentic and all documents
submitted to us as copies conform to the originals of those documents; (iv) each
natural person signing any document reviewed by us had the legal capacity to do
so; (v) the Registration Statement, and any amendments thereto (including
post-effective amendments) will have become effective and comply with all
applicable laws; (vi) all of the Shares will be issued and sold in compliance
with applicable federal and state securities laws and in the manner stated in
the Purchase Agreement, the Registration Statement and any applicable prospectus
supplement; (vii) there will not have occurred any change in law affecting the
validity or enforceability of such Shares; (viii) at the time of the sale,
issuance or delivery of the Shares, the authorization of such Shares by the
Company&#146;s Board of Directors or applicable committee thereof will not have been
modified or rescinded; (ix) with respect to the Shares, the Company will have a
sufficient number of authorized but unissued shares thereof under its charter,
and will have reserved from such authorized but unissued and unreserved shares,
sufficient shares for the issuance thereof; (x) the certificates representing
the Shares will be duly authorized, executed and delivered; and (xi) the Shares
will be properly authenticated by the manual signature of an authorized
representative of the transfer agent. </P>
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<P align=justify>Based upon the foregoing, we are of the opinion that:</P>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0 BCLLIST>

  <TR>
    <TD vAlign=top width="5%">(a) </TD>
    <TD>
      <P align=justify>the 300,000 Shares that have already been issued by the
      Company to Aspire Capital are validly issued, fully paid and
      nonassessable; and</P></TD></TR>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="5%">(b) </TD>
    <TD>
      <P align=justify>the 5,430,200 Shares, when sold and issued by the Company
      to Aspire Capital in accordance with the terms of the Purchase Agreement,
      will be validly issued, fully paid and nonassessable, provided that (i)
      the Company&#146;s Board of Directors or an authorized committee thereof has
      specifically authorized the issuance of such Shares in exchange for a
      consideration that the Board of Directors or such committee determines as
      adequate (&#147;<B>Authorizing Resolutions</B>&#148;), (ii) the offer and sale of
      the Shares and the issuance and delivery thereof are in conformity with
      the Company&#146;s charter and bylaws, and do not violate any applicable law,
      or result in a default under or breach of any agreement or instrument
      binding on the Company or a violation of any restriction imposed by any
      court or governmental body having jurisdiction over the Company and (iii)
      the Company has received the consideration provided for in the applicable
      Authorizing Resolutions.</P></TD></TR></TABLE>
<P align=justify>The foregoing opinion is qualified to the extent that the
enforceability of any document or instrument may be limited by or subject to
bankruptcy, insolvency, receivership, fraudulent transfer or conveyance,
reorganization, moratorium or other similar laws relating to or affecting
creditors&#146; rights generally, and general equitable or public policy principles.
</P>
<P align=justify>In providing this opinion, we have relied as to certain matters
on information obtained from public officials and officers or agents of the
Company. </P>
<P align=justify>It is understood that this opinion is to be used only in
connection with the Registration Statement.</P>
<P align=justify>Please note that we are opining only as to the matters
expressly set forth herein, and no opinion should be inferred as to any other
matters. This opinion is limited to matters governed by the Nevada Revised
Statutes (including the statutory provisions and reported judicial decisions
interpreting such law) and the laws of the State of Nevada. We disclaim any
obligation to update this opinion or otherwise advise you of any change in any
of these sources of law or subsequent legal or factual developments which might
affect any matters or opinions set forth herein, nor do we deliver any opinion
as to the extent to which any laws other than the laws of the State of Nevada
apply or the effect of any such other laws should they apply. </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_3></A>
<P align=justify>We hereby consent to the filing of this opinion as Exhibit 5.1
to the Registration Statement and to the use of our name under the caption
&#147;Legal Matters&#148; in the Registration Statement and in the prospectus forming part
of the Registration Statement and any supplement thereto. In giving this
consent, we do not thereby admit that we are within the category of persons
whose consent is required under Section 7 of the Act or the rules and
regulations of the Commission promulgated thereunder.</P>
<P align=justify>Sincerely,</P>
<P align=justify>/s/Gary R. Henrie</P>
<P align=justify>Gary R. Henrie </P>
<HR align=center width="100%" color=black noShade SIZE=5>

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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>exhibit23-1.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
<HTML>
<HEAD>
   <TITLE>Lightbridge Corp.: Exhibit 23.1 - Filed by newsfilecorp.com</TITLE>
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<!--$$/page=--><A name=page_1></A>
<br>
<IMG
src="exhibit23-1x1x1.jpg" border=0 width="319" height="151"> <BR>
<TABLE
style="BORDER-COLOR: black; FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; "
cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD
    style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-TOP: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD
    style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-TOP: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD style="BORDER-TOP: #eeeeee 2px solid" align=center
    width="77%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=center width="77%">CONSENT OF INDEPENDENT REGISTERED PUBLIC
      ACCOUNTING FIRM </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;Russell E. Anderson, CPA </TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%"></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>Russ Bradshaw, CPA</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%"></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;William R. Denney, CPA </TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%"></TD></TR>
  <TR>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">To the Board of Directors </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">Lightbridge Corporation </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">1600 Tysons Boulevard, Suite 550 </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">McLean, VA 22102 </TD></TR>
  <TR>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right></TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">
    <p align="justify">We hereby consent to the use of our report
      dated March 25, 2015, with respect to the financial statements of
      Lightbridge Corporation incorporated by reference in the Registration
      Statement on Form S-1 to be filed on or about October 16, 2015. We also
      consent to the use of our name and the reference to us in the Experts
      section of the Registration Statement. </TD></TR>
  <TR>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD align=left>&nbsp;</TD>
  </TR>
  <TR>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">/s/ Anderson Bradshaw PLLC</TD></TR>
  <TR>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">Anderson Bradshaw PLLC </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">Salt Lake City, Utah </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">October 16, 2015 </TD></TR>
  <TR>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;5296 S. Commerce Dr </TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%"></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;Suite 300 </TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>Salt Lake City, Utah</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%"></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;84107 </TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;USA </TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>(T) 801.281.4700&nbsp;&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%"></TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>(F) 801.281.4701&nbsp;&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%"></TD></TR>
  <TR>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
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    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">&nbsp;</TD></TR>
  <TR>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%">&nbsp;</TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-RIGHT: #eeeeee 2px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right>abcpas.net&nbsp;&nbsp;</TD>
    <TD style="BORDER-RIGHT: #eeeeee 0px solid; BORDER-LEFT: #eeeeee 0px solid"
    align=right width="2%">&nbsp;</TD>
    <TD align=left width="77%"></TD></TR></TABLE>
<BR>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
