Lightbridge Corporation (NASDAQ:LTBR) Q4 2023 Earnings Call Transcript

Sherrie Holloway: Thank you, Larry. Net loss was $1.8 million for the third quarter ended September 30, 2023, compared to $2 million for the third quarter of 2022. Total R&D expenses amounted to $0.5 million for the 3 months ended September 30, 2023, compared to $0.2 million for the 3 months ended September 30, 2022, an increase of $0.3 million. This increase was primarily due to an increase in project labor costs incurred from the U.S. National Laboratories of $0.2 million and an increase in employee compensation and employee benefits and stock-based compensation of $0.2 million, offset by a decrease in other outside research and development costs of $0.1 million. Total G&A expenses were $1.6 million for the third quarter ended September 30, 2023 and compared to $2 million for the third quarter 2022.

The decrease of $0.4 million was primarily due to a decrease in employee compensation and employee benefits of $0.5 million and a decrease in insurance expense of $0.1 million, offset by increase in stock-based compensation of $0.1 million and an increase in professional fees of $0.1 million. Total other operating income was 0 for the third quarter ended September 30, 2023, compared to $0.1 million for the third quarter of 2022. This $0.1 million decrease was due to the game voucher project that was completed in the first quarter of 2023. Total other income was $0.3 million for the third quarter ended September 30, 2023, compared to $0.1 million for the third quarter of 2022, an increase of $0.2 million. This increase in other income was due to an increase in interest income earned from our treasury bills and our bank savings account.

Back to you, Seth.

Seth Grae: Thank you, Sherrie. And thank you, everybody, for participating on today’s call. We have not received any questions for this conference call. We look forward to providing additional updates. In the meantime, we can be reached at ir@ltbridge.com. Stay safe and well. Goodbye.

End of Q&A: Thank you. And this concludes today’s conference. You may now disconnect.