<SEC-DOCUMENT>0001062993-15-004999.txt : 20150914
<SEC-HEADER>0001062993-15-004999.hdr.sgml : 20150914
<ACCEPTANCE-DATETIME>20150914084903
ACCESSION NUMBER:		0001062993-15-004999
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20150914
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150914
DATE AS OF CHANGE:		20150914

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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34487
		FILM NUMBER:		151104726

	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>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
   <TITLE>Lightbridge Corporation: Form 8-K - 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>
<P align=center><B><FONT size=5>UNITED STATES </FONT><BR><FONT
size=5>SECURITIES AND EXCHANGE COMMISSION </FONT><BR></B>Washington, D.C.
20549<B> </B></P>
<P align=center><B><FONT size=5>FORM 8-K </FONT><BR>CURRENT REPORT
<BR></B>Pursuant to Section 13 or 15(d) of the<BR>Securities Exchange Act of
1934</P>
<P align=center>Date of Report (Date of earliest event reported):<B>
<U>September 14, 2015</U></B></P>
<P align=center><B><U><FONT size=5>LIGHTBRIDGE
CORPORATION</FONT></U></B><BR>(Exact name of registrant as specified in its
charter) <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 nowrap><B><U>Nevada </U></B></TD>
    <TD align=center width="33%" nowrap><B><U>001-34487 </U></B></TD>
    <TD align=center width="33%" nowrap><B><U>91-1975651 </U></B></TD></TR>
  <TR vAlign=top>
    <TD align=center nowrap>(State or other jurisdiction </TD>
    <TD align=center width="33%" nowrap>(Commission </TD>
    <TD align=center width="33%" nowrap>(IRS Employer </TD></TR>
  <TR vAlign=top>
    <TD align=center nowrap>of incorporation) </TD>
    <TD align=center width="33%" nowrap>File Number) </TD>
    <TD align=center width="33%" nowrap>Identification No.) </TD></TR></TABLE>
<P align=center><B>1600 Tysons Boulevard, Suite 550 <BR><U>McLean, VA
22102</U> <BR></B>(Address of principal executive offices, including zip
code) </P>
<P align=center><B><U>(571) 730-1200 </U></B><BR>(Registrant&#146;s Telephone
Number, Including Area Code)<B> </B></P>
<P align=center><B><U>Not Applicable </U></B><BR>(Former name or former address,
if changed since last report) <B></B></P>
<P align=justify>Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:</P>
<P align=justify>[&nbsp;&nbsp; ] Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)</P>
<P align=justify>[&nbsp;&nbsp; ] Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a -12)</P>
<P align=justify>[&nbsp;&nbsp; ] Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b)) </P>
<P align=justify>[&nbsp;&nbsp; ] Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c)) </P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_2></A>
<P align=justify><B>Item 7.01 Regulation FD Disclosure. </B></P>
<P align=justify>On September 14, 2015, Lightbridge Corporation (the &#147;Company&#148;)
issued a press release announcing the Company&#146;s entry into a Comprehensive
Nuclear Services Agreement with Canadian Nuclear Laboratories (&#147;CNL&#148;) for
fabrication of the Company&#146;s patented next generation metallic nuclear fuel
test samples at CNL facilities at Chalk River, Ontario, Canada. A copy of the press
release is furnished with this Form 8-K as Exhibit 99.1. </P>
<P align=justify>The information in this Item 7.01, including the press release,
shall not be deemed &#147;filed&#148; for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, nor shall it be deemed incorporated by
reference in any filing under the Securities Act of 1933, as amended, except as
shall be expressly set forth by reference to such filing. </P>
<P align=justify><b>Item 8.01 Other Events.</b><br>
<br>
The Company is providing the following supplemental risk factor for
incorporation by reference into the Company&#146;s effective registration statements.
<br>
<br>
<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><br>
<br>
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,
Derivatives and Hedging &#151; Contracts in Entity&#146;s Own Equity. Management has
determined to seek guidance from the Office of the Chief Accountant of the
Securities and Exchange Commission (the &#147;SEC&#148;) 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.<br>
<br>
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.<br>
<br>
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><B>Item 9.01 Financial Statements and Exhibits. </B> </P>
<P align=justify>(d) Exhibits. </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 nowrap
      ><B>Exhibit No.</B> </TD>
    <TD align=center width="2%" nowrap  ></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="88%"><B>Description</B> </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee nowrap ><A
      href="exhibit99-1.htm">99.1
      </A></TD>
    <TD align=center width="2%"  bgColor=#eeeeee nowrap
      >&nbsp;&nbsp; </TD>
    <TD align=left width="88%" bgColor=#eeeeee><A
      href="exhibit99-1.htm">Press
      Release dated September 14, 2015. </A></TD></TR></TABLE><BR>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_3></A>
<P align=center><B>SIGNATURES</B> </P>
<P align=justify style="text-indent:5%">Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.</P>
<P align=justify>Dated: September 14, 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 nowrap>LIGHTBRIDGE CORPORATION </TD></TR>
  <TR>
    <TD nowrap >&nbsp; </TD>
    <TD width="90%" nowrap>&nbsp; </TD></TR>
  <TR>
    <TD nowrap >&nbsp; </TD>
    <TD width="90%" nowrap>&nbsp; </TD></TR>
  <TR vAlign=top>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left nowrap >By:
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=left width="90%" nowrap>/s/
      Seth Grae </TD></TR>
  <TR vAlign=top>
    <TD align=left nowrap >Name:&nbsp;&nbsp; </TD>
    <TD align=left width="90%" nowrap>Seth Grae </TD></TR>
  <TR vAlign=top>
    <TD align=left nowrap >Title: </TD>
    <TD align=left width="90%" nowrap>President and Chief Executive Officer
  </TD></TR></TABLE></DIV><BR>
<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>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" align=center nowrap><B>Exhibit
      No.</B> </TD>
    <TD align=center width="2%" nowrap></TD>
    <TD style="BORDER-BOTTOM: #000000 1px solid" align=center
      width="88%"><B>Description</B> </TD></TR>
  <TR vAlign=top>
    <TD align=center bgColor=#eeeeee nowrap><A
      href="exhibit99-1.htm">99.1 </A></TD>
    <TD align=center width="2%" bgColor=#eeeeee nowrap>&nbsp;&nbsp; </TD>
    <TD align=left width="88%" bgColor=#eeeeee><A
      href="exhibit99-1.htm">Press Release dated
      September 14, 2015. </A></TD></TR></TABLE><BR>
<HR align=center width="100%" color=black noShade SIZE=5>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
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   <TITLE>Lightbridge Corp.: Exhibit 99.1 - Filed by newsfilecorp.com</TITLE>
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<!--$$/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=top>
    <TD align=left nowrap >
    <IMG src="exhibit99-1x1x1.jpg" border=0 width="345" height="100"></TD>
    <TD vAlign=bottom align=right width="50%" nowrap><B>FOR IMMEDIATE RELEASE</B>
  </TD></TR></TABLE>
<P align=center><B>LIGHTBRIDGE AND CANADIAN NUCLEAR LABORATORIES SIGN
COMPREHENSIVE <BR>AGREEMENT FOR FABRICATION OF LIGHTBRIDGE NUCLEAR FUEL SAMPLES
</B></P>
<P align="justify">
<B>MCLEAN, Va.</B> &ndash; September 14, 2015 &ndash; <font color="#0000FF"> <U>Lightbridge Corporation</U></font> (NASDAQ: LTBR), a U.S. nuclear energy company, today announced that it has signed a Comprehensive Nuclear Services Agreement with
<font color="#0000FF"> <U>Canadian Nuclear
Laboratories</U></font> (CNL) for fabrication of Lightbridge&rsquo;s patented next generation metallic nuclear fuel test samples at CNL facilities at Chalk River, Ontario, Canada This enabling agreement provides the framework to proceed with Phases 2 and 3
of the test fuel sample fabrication at CNL&rsquo;s facilities in Chalk River as envisioned in an October 2014 Initial Cooperation Agreement.</P>
<P align="justify">
&ldquo;With this agreement with Canada&rsquo;s premier nuclear science and technology organization, Lightbridge has put in place the last key enabling agreement to execute our critical path work scope relating to research reactor irradiation under
prototypic commercial reactor operating conditions,&rdquo; said Lightbridge President and CEO
<font color="#0000FF"> <U>Seth Grae</U></font>.  &ldquo;Our agreement with CNL is keeping development of Lightbridge-designed metallic fuel on track to deliver
<font color="#0000FF"> <U>innovative,
proprietary fuel</U></font> that can help global utilities safely
<font color="#0000FF"> <U>generate more carbon-free electricity at improved operating margins</U></font> from existing and new build reactors,&rdquo; Grae added.</P>
<P align="justify">
The initial scope of work under the comprehensive nuclear services agreement involves development of a fabrication plan in 2015. Subsequent activities will include fabrication and characterization in early 2016 of prototype fuel test samples using
depleted uranium, to be followed by fabrication in late 2016 of irradiation fuel test samples using low enriched uranium for loop irradiation testing under prototypic commercial reactor operating conditions in a pressurized water loop of the
<font color="#0000FF"> <U>25MW
nuclear research reactor</U></font> operated by the Institute for Energy Technology at Halden, Norway. </P>
<P align=justify>Lightbridge-designed metallic fuel enables existing reactor
fleets to expand their generating capacity at the lowest total levelized cost
per megawatt-hour of incremental electricity which is a lower cost than even a
new-build combined cycle gas-fired power plant. These independently validated
economic benefits would allow existing nuclear power plants to generate an
internal rate of return in excess of 30% on a net basis after payment of
incremental fuel costs and Lightbridge royalty fees. New-build reactors can also
benefit from a 30% power uprate using this patented metallic fuel design that
could reduce construction costs per kilowatt-electric of new generating
capacity. In addition to enhanced power plant economics, Lightbridge-designed
metallic fuel provides improved fuel performance and increased safety margins.
The safety benefits would give the plant operator more time to add water to the
reactor in case of severe accidents. Finally, there is less spent fuel generated
per kilowatt-hour of electricity, and the spent fuel has reduced long-term
radio-toxicity with non-proliferation benefits. </P>
<P align=justify>The global commercial nuclear energy industry is projected to
grow rapidly as demand for reliable, carbon-free, base load electric power
increases. There are currently 436 operating civil nuclear reactors in 30
countries around the world, with an additional 67 reactors under construction
and 488 on order, planned or proposed, according to the <font color="#0000FF"> <U>World Nuclear
Association</U></font>. By 2035, the International Energy Agency of the Organization
for Economic Cooperation and Development projects a 58% increase in nuclear
capacity from a combination of power uprates and reactor construction. </P>
<P align=justify><B><I>About Lightbridge Corporation</I></B> <BR><I>Lightbridge
is a nuclear energy company based in McLean, Virginia. The Company develops
proprietary next generation nuclear fuel technologies for current and future
nuclear reactor systems. Lightbridge's breakthrough fuel technology is
establishing new global standards for safe and clean nuclear power and leading
the way to a sustainable energy future. The Company also provides comprehensive
advisory services for established and emerging nuclear programs based on a
philosophy of transparency, non-proliferation, safety and operational
excellence. Lightbridge consultants provide integrated strategic advice and
expertise across a range of disciplines including regulatory affairs, nuclear
reactor procurement and deployment, reactor and fuel technology and
international relations. The Company leverages those broad and integrated
</I><i>capabilities by offering its services to commercial entities
and governments with a need to establish or expand nuclear industry capabilities
and infrastructure. </i></P>
<HR style="PAGE-BREAK-AFTER: always" align=center width="100%" color=black
noShade SIZE=5>
<!--$$/page=--><A name=page_2></A>
<P align=justify><I>Important recent milestones achieved by Lightbridge include
approval and issuance of key patents by the </I><font color="#0000FF"><I><U>United States</U></I></font><I>,
</I><font color="#0000FF"><I><U>Australia</U></I></font><I> and </I>
<font color="#0000FF"><I><U>South Korea</U></I></font><I> for the
Company&#146;s multi-lobed metallic fuel rod design and fuel assemblies. In April
2015, nuclear fuel managers at Dominion Generation (NYSE: D), Duke Energy (NYSE:
DUK), Exelon Generation (NYSE: EXC) and Southern Company (NYSE: SO) asked the
U.S. Nuclear Regulatory Commission (NRC) to prepare to review Lightbridge&#146;s fuel
design, in advance of an expected application in 2017 to use the Company&#146;s fuel
in a U.S. reactor as early as 2020
(</I><font color="#0000FF"><I><U>http://pbadupws.nrc.gov/docs/ML1513/ML15134A092.pdf</U></I></font><I>)</I>.
<I>The NRC relies on communications from U.S. utilities to adjust Commission
staffing levels and budgets in anticipation of regulatory review of licensing
applications. </I></P>
<P align=justify><I>To receive Lightbridge Corporation updates via e-mail,
subscribe at </I><font color="#0000FF"><I><U>http://ir.ltbridge.com/alerts.cfm</U>? </I>
</font></P>
<P align=justify><I>Lightbridge is on Twitter. Sign up to follow
@LightbridgeCorp at </I><font color="#0000FF"><I><U>http://twitter.com/lightbridgecorp</U></I></font><I>.
</I></P>
<P align=justify><B><I>Forward Looking Statements</I></B> <BR><I>With the
exception of historical matters, the matters discussed in this news release are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, including statements regarding the Company's
competitive position, the timing of demonstration testing and commercial
production, the Company&#146;s product and service offerings and the expected market
for and benefits from the Company&#146;s product and service offerings. These
statements are based on current expectations on the date of this news release
and involve a number of risks and uncertainties that may cause actual results to
differ significantly from such estimates. The risks include, but are not limited
to, the degree of market adoption of the Company's product and service
offerings; market competition; dependence on strategic partners; demand for fuel
for nuclear reactors; and the Company's ability to manage its business
effectively in a rapidly evolving market, as well as other factors described in
Lightbridge's filings with the </I><font color="#0000FF"><I><U>Securities and Exchange
Commission</U></I></font><I>. Lightbridge does not assume any obligation to update or
revise any such forward-looking statements, whether as the result of new
developments or otherwise. Readers are cautioned not to put undue reliance on
forward-looking statements.</I> </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>Investor Relations Contact:</B> </TD></TR>
  <TR vAlign=top>
    <TD align=left>David Waldman/Natalya Rudman </TD></TR>
  <TR vAlign=top>
    <TD align=left>Crescendo Communications, LLC </TD></TR>
  <TR vAlign=top>
    <TD align=left>Tel. 855-379-9900 </TD></TR>
  <TR vAlign=top>
    <TD align=left>Ltbr@crescendo-ir.com </TD></TR></TABLE><BR>
<HR align=center width="100%" color=black noShade SIZE=5>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
