Lightbridge (LTBR) 10-K/A 23 Nov 15 2014 FY Annual report (amended) Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2014	Oct. 31, 2015	Jun. 30, 2014
Document Type	10-K
Amendment Flag	true
Amendment Description	In this Annual Report on Form 10-K/A (Amendment No. 2) for the fiscal year ended December 31, 2014 (“Annual Report”), as originally filed with the Securities and Exchange Commission (the “SEC”) on March 25, 2015 (the “Original Report”), Lightbridge Corporation (“Lightbridge,” the “Company,” “we” or “us”) is restating its previously issued and audited consolidated financial statements and the related disclosures for the years ended December 31, 2014 and December 31, 2013 and all quarterly periods included therein (collectively, the “Restated Periods”). As discussed in further detail below and in Note 2 to the accompanying consolidated financial statements, the restatement is the result of a misapplication in the guidance on accounting for warrants. We assessed the impact of this misapplication on our prior interim and annual financial statements and concluded that the combined impact was material to these financial statements. Consequently, we have restated the prior period financial statements identified above. Concurrently with the filing of this Form 10-K/A, the Company is also filing Amendment No. 1 on Form 10-Q/A to each of the Company’s Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2015 and June 30, 2015, as originally filed with the SEC on May 7, 2015 and August 19, 2015, respectively. All amounts in this Annual Report affected by the restatement adjustments reflect such amounts as restated.
Document Period End Date	Dec. 31, 2014
Trading Symbol	ltbr
Entity Registrant Name	LIGHTBRIDGE Corp
Entity Central Index Key	1,084,554
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		18,623,387
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well Known Seasoned Issuer	No
Entity Public Float			$ 35,186,138
Document Fiscal Year Focus	2,014
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Current Assets
Cash and cash equivalents	$ 4,220,225	$ 3,672,877
Marketable securities	0	15,731
Restricted cash	325,181	555,008
Accounts receivable - project revenue and reimbursable project costs	469,086	425,916
Prepaid expenses and other current assets	205,185	288,939
Total Current Assets	5,219,677	4,958,471
Property Plant and Equipment -net	0	0
Other Assets
Patent costs	833,560	699,168
Total Assets	6,053,237	5,657,639
Current Liabilities
Accounts payable and accrued liabilities	653,669	476,628
Total Current Liabilities	653,669	476,628
Warrant liability	4,633,312	1,711,331
Total Liabilities	$ 5,286,981	$ 2,187,959
Commitments and contingencies
Stockholders' Equity
Preferred stock, $0.001 par value, 50,000,000 authorized shares, no shares issued and outstanding	$ 0	$ 0
Common stock, $0.001 par value, 500,000,000 authorized, 18,082,874 shares outstanding and 15,057,243 shares outstanding at December 31, 2014 and December 31, 2013, respectively	18,083	15,057
Additional paid-in capital	70,801,464	69,853,600
Accumulated Deficit	(70,053,291)	(66,398,977)
Total Stockholders' Equity	766,256	3,469,680
Total Liabilities and Stockholders' Equity	$ 6,053,237	$ 5,657,639

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2014	Dec. 31, 2013
Preferred Stock, Par Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Issued
Preferred Stock, Shares Outstanding
Common Stock, Par Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	18,082,874	15,057,243
Common Stock, Shares, Outstanding	18,082,874	15,057,243

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Revenue:
Consulting Revenue	$ 1,310,199	$ 1,901,354
Cost of Consulting Services Provided	756,277	1,109,890
Gross Margin	553,922	791,464
Operating Expenses
General and administrative	3,834,935	3,616,897
Research and development expenses	1,534,605	2,027,905
Total Operating Expenses	5,369,540	5,644,802
Operating Loss	(4,815,618)	(4,853,338)
Other Income and (Expenses)
Warrant revaluation	1,162,730	277,796
Investment income	1,951	(8,133)
Other income (expenses)	(3,377)	(3,490)
Total Other Income and (Expenses)	1,161,304	266,173
Net loss before income taxes	(3,654,314)	(4,587,165)
Income taxes	0	0
Net loss	$ (3,654,314)	$ (4,587,165)
Net Loss Per Common Share, Basic and Diluted	$ (0.24)	$ (0.35)
Weighted Average Number of Shares Outstanding	15,463,392	13,009,575

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Operating Activities:
Net Loss	$ (3,654,314)	$ (4,587,165)
Adjustments to reconcile net loss from operations to net cash used in operating activities:
Stock-based compensation	282,276	329,499
Depreciation and amortization	0	17,221
Loss on marketable securities	1,297	49,116
Warrant revaluation	(1,162,730)	(277,796)
Changes in non-cash operating working capital items:
Accounts receivable - fees and reimbursable project costs	(43,170)	175,887
Prepaid expenses and other assets	83,754	285,651
Accounts payable and accrued liabilities	177,040	91,405
Net Cash Used In Operating Activities	(4,315,847)	(3,916,182)
Investing Activities:
Proceeds from the sale of marketable securities	14,434	1,572,242
Purchase of marketable securities	0	(38,880)
Payments for Patent costs	(134,392)	(98,572)
Net Cash Provided by (Used In) Investing Activities	(119,958)	1,434,790
Financing Activities:
Net proceeds from the issuance of common stock	4,753,326	3,958,040
Restricted cash	229,827	(1,326)
Net Cash Provided by Financing Activities	4,983,153	3,956,714
Net Increase In Cash and Cash Equivalents	547,348	1,475,322
Cash and Cash Equivalents, Beginning of Year	3,672,877	2,197,555
Cash and Cash Equivalents, End of Year	4,220,225	3,672,877
Cash paid during the year:
Interest paid	0	0
Income taxes paid	0	0
Non-Cash Financing Activity:
Warrant liability - fair value of warrants exercised	$ 331,144	$ 0

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders Equity - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Deficit [Member]	Stock Commited Future Issuance [Member]	Total
Beginning Balance at Dec. 31, 2012	$ 12,526	$ 67,093,434	$ (61,811,812)	$ 3,125	$ 5,297,273
Beginning Balance (Shares) at Dec. 31, 2012	12,526,240
Proceeds from the sale of common stock - net of offering costs	$ 2,531	3,958,634		$ (3,125)	3,958,040
Proceeds from the sale of common stock - net of offering costs (Shares)	2,531,003
Fair value of warrants issued with financing		(1,527,967)			(1,527,967)
Stock-based compensation		329,499			329,499
Net loss			(4,587,165)		(4,587,165)
Ending Balance at Dec. 31, 2013	$ 15,057	69,853,600	(66,398,977)		3,469,680
Ending Balance (Shares) at Dec. 31, 2013	15,057,243
Beginning Balance at Dec. 31, 2013	$ 15,057	69,853,600	(66,398,977)		3,469,680
Beginning Balance (Shares) at Dec. 31, 2013	15,057,243
Beginning Balance at Dec. 31, 2013	$ 15,057	69,853,600	(66,398,977)		3,469,680
Beginning Balance (Shares) at Dec. 31, 2013	15,057,243
Beginning Balance at Dec. 31, 2013	$ 15,057	69,853,600	(66,398,977)		3,469,680
Beginning Balance (Shares) at Dec. 31, 2013	15,057,243
Shares issued - registered offerings and stock grants	$ 3,026	4,750,300			4,753,326
Shares issued - registered offerings and stock grants (Shares)	2,892,809
Fair value of warrants issued with financing		(4,415,855)			(4,415,855)
Stock-based compensation		282,275			282,275
Warrants exercised		331,144			331,144
Warrants exercised (Shares)	132,822
Net loss			(3,654,314)		(3,654,314)
Ending Balance at Dec. 31, 2014	$ 18,083	$ 70,801,464	$ (70,053,291)		$ 766,256
Ending Balance (Shares) at Dec. 31, 2014	18,082,874

Basis of Presentation, Summary

Basis of Presentation, Summary of Significant Accounting Policies and Nature of Operations	12 Months Ended
	Dec. 31, 2014
Basis of Presentation, Summary of Significant Accounting Policies and Nature of Operations [Text Block]	Note 1. Basis of Presentation, Summary of Significant Accounting Policies, and Nature of Operations We were formed on October 6, 2006, when Thorium Power, Ltd. merged with Thorium Power, Inc., (“TPI”) which had been formed in the State of Delaware on January 8, 1992. On September 29, 2009, we changed our name from Thorium Power, Ltd. to Lightbridge Corporation (“Lightbridge” or the “Company”). We are engaged in two operating business segments: our Technology Business Segment and our Consulting Business Segment (see Note 13-Business Segment Results). Technology Business Segment Our primary business segment, based on future revenue potential, is to develop innovative, proprietary nuclear fuel designs which we expect will significantly enhance the nuclear power industry’s economics and increase power output by: (1) Providing an increase in power output of up to 10% while simultaneously extending the operating cycle length from 18 to 24 months in existing pressurized water reactors (which are currently limited to an 18 -month operating cycle); alternatively, the power can be increased up to 17% while retaining an 18-month operating cycle; (2) Enabling increased reactor power output (up to 30% increase) without changing the core size in new build PWRs; and (3) Reducing the volume of used fuel per kilowatt-hour as well as enhancing proliferation resistance of spent fuel. There are significant technology synergies among our primary fuel products due to utilization of the proprietary metallic fuel rod technology that is at the core of each of them. Once completed, a full-scale demonstration and qualification of the metallic fuel rod technology will simultaneously advance all of our product families currently under development. Due to the significantly lower temperature during operation, our metallic nuclear fuel rods are expected to have improved safety margins during off-normal events. U.S. Nuclear Regulatory Commission processes require engineering analysis of a large break loss-of-coolant accident (“LOCA”). The scenario assumes failure of a large water pipe in the reactor coolant system. Under LOCA conditions, the fuel and cladding temperatures rise due to reduced cooling capacity. Preliminary analytical modeling shows that under a LOCA scenario, unlike conventional uranium dioxide fuel, the cladding of the Lightbridge-designed metallic fuel rods would stay at least 200 degrees below the 850-900 degrees Celsius temperature at which steam begins to react with the zirconium cladding generating hydrogen gas. Buildup of hydrogen gas in a nuclear power plant can lead to a detonation. Lightbridge fuel is designed to prevent hydrogen gas generation in LOCA situations. We are currently focusing our development efforts primarily on the metallic fuel with a power uprate of up to 10% and a 24 -month operating cycle in existing Westinghouse-type four-loop pressurized water reactors. Those reactors represent the largest segment of our global target market. Our metallic fuel could also be adapted for use in other types of water-cooled commercial power reactors, such as boiling water reactors, CANDU heavy water reactors, as well as water-cooled small modular reactors. On October 20, 2014, we announced the signing of an initial cooperation agreement with Canadian Nuclear Laboratories (“CNL”), formerly known as Atomic Energy of Canada Limited-Chalk River Laboratories, for fabrication and test reactor irradiation of Lightbridge's patented next generation metallic nuclear fuel samples. The work will take place at CNL's facilities at Chalk River, Ontario, Canada. Consulting Business Segment Our business model expanded with the establishment of a consulting business segment in 2007, through which we provide consulting and strategic advisory services to companies and governments planning to create or expand electricity generation capabilities using nuclear power plants. On August 1, 2008, we signed separate consulting services agreements with two government entities: Emirates Nuclear Energy Corporation (“ENEC”) formed by Abu Dhabi, one of the member Emirates of the United Arab Emirates (“UAE”), and the Federal Authority for Nuclear Regulation (“FANR”) formed by the government of the UAE. Under these two original agreements, we have provided consulting and strategic advisory services over a contract term of five years starting from June 23, 2008. The ENEC contract has been extended through 2015. The FANR contract has been extended to December 31, 2016. These contracts can each continue to be extended upon agreement by both parties. On August 11, 2014, we were selected to provide quality assurance, safety and construction and operational readiness inspection services in support of the in-house inspection team of FANR. As a team with Lloyd’s Register, this work is in addition to our ongoing support of FANR’s activities and is contracted to extend to December 2017. On August 14, 2014, we signed a Memorandum of Understanding with the Vietnam Agency for Radiation and Nuclear Safety (“VARANS”) to provide regulatory, legal, and administrative support to Vietnam’s civil nuclear program. On October 17, 2014, we signed with the Vietnam Atomic Energy Institute (“VINATOM”) a comprehensive cooperation agreement for consulting services related to the construction and safe operation of Vietnam's Atomic Energy Research Center, including a nuclear research reactor. Our collaboration with VINATOM involves 24 specific activities, including design review and selection of nuclear research reactors, site selection, and nuclear security protocols. On October 17, 2014, we signed with Vietnam's leading energy engineering consultant, Power Engineering Consulting Joint Stock Company 1 (“PECC1”), a teaming agreement for consulting services related to construction and safe operation of a nuclear research reactor, which is planned as part of the country's Center for Nuclear Energy Science and Technology (“CNEST”). Work under the five-year, Lightbridge/VINATOM agreement will support CNEST, Vietnam's nuclear science and technology center, a planned $500 million facility. The VINATOM agreement also stipulates support for nuclear quality assurance; research-reactor fuel selection; control-room operations; safeguards, control and accounting of nuclear material; and related training programs. During the fourth quarter of 2014, we signed a contract with ENEC to provide management consulting services to their Seoul Korea office, on a time and material basis. Accounting Policies and Pronouncements Basis of Consolidation These consolidated financial statements include the accounts of Lightbridge, a Nevada corporation, and our wholly-owned subsidiaries, TPI, a Delaware corporation, Lightbridge International Holding LLC, a Delaware limited liability company, and our foreign branch offices. All significant intercompany transactions and balances have been eliminated in consolidation. We registered a branch office in the United Kingdom in 2008 called Lightbridge Advisors Limited (inactive) and we also established a branch office in Moscow, Russia, in July 2009, both of which are wholly owned by Lightbridge International Holding LLC at December 31, 2014. These branch offices will be closed in 2015. Translation gains and losses for the years ended December 31, 2014 and 2013, were not significant. Use of Estimates and Assumptions The preparation of financial statements, in conformity with accounting principles generally accepted in the United States of America, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Significant Estimates These accompanying consolidated financial statements include some amounts that are based on management’s best estimates and judgments. The most significant estimates relate to valuation of stock grants and stock options, the valuation allowance on deferred tax assets, and various contingent liabilities. It is reasonably possible that these above-mentioned estimates and others may be adjusted as more current information becomes available, and any adjustment could be significant in future reporting periods. It is also reasonably possible that the actual grant date value of the stock options vested might have been materially different than the estimated value. Company Liquidity, Certain Risks, Uncertainties and Concentrations Management anticipates, based on the Company’s projected working capital requirements including its projected research and development expenses over the next 12 months, that it will need to raise additional capital in 2015 by way of an offering of equity securities, an offering of debt securities, or a financing through a bank. The Company continues to reduce its current operating expenses and may also need to reduce its projected research and development expenditures in 2015 in order to maintain sufficient working capital for the next 12 months. We participate in a government-regulated industry. Our operating results are affected by a wide variety of factors including decreases in the use or public favor of nuclear power, the ability of our technology, the ability to safeguard the production of nuclear power, and to safeguard our patents and intellectual property from competitors. Due to these factors, we may experience substantial period-to-period fluctuations in our future operating results. Potentially, a loss of a key officer, key management, and other personnel could impair our ability to successfully execute our business strategy, particularly when these individuals have acquired specialized knowledge and skills with respect to nuclear power and our operations. Our future operations and earnings currently depend on the results of the Company’s operations outside the United States. There can be no assurance that the Company will be able to successfully continue to conduct such operations, and a failure to do so would have a material adverse effect on the Company’s research and development activities, financial position, results of operations, and cash flows. Also, the success of the Company’s operations will be subject to other numerous contingencies, some of which are beyond management’s control. These contingencies include general and regional economic conditions, competition, changes in regulations, changes in accounting and taxation standards, inability to achieve our overall long-term goals, future impairment charges, and global or regional catastrophic events. Because the Company is dependent on its international operations for almost all its revenue, the Company may be subject to various additional political, economic, and other uncertainties. Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash equivalents and accounts receivable. Cash equivalents consist of a checking account held with one major financial institution with a high credit standing. Revenue Recognition At the present time, we derive all of our revenue from our consulting and strategic advisory services business segment, by offering consulting services to governments outside the United States planning to create or expand electricity generation capabilities using nuclear power plants. Our fee structure for each client engagement is dependent on a number of variables, including the size of the client, the complexity, the level of the opportunity for us to improve the client’s electrical generation capabilities using nuclear power plants, and other factors. The accounting policy we use to recognize revenue depends on the terms and conditions of the specific contract. Revenues from the Executive Affairs Authority (“EAA”) of Abu Dhabi, one of the member Emirates of the UAE, and the related entities, ENEC and FANR, are billed on both on a time and expense basis and on a fixed contract basis with revenue recognized based on the acceptance of defined contract deliverables. Certain customer arrangements require evaluation of the criteria outlined in the accounting standards for reporting revenue “ Gross as a Principal Versus Net as an Agent Cost of consulting services includes labor, travel expenses, and other related consulting costs. All costs directly related to producing work under certain consulting agreements where revenue is recognized upon acceptance of certain contractual milestones by our customer, are first capitalized as deferred project costs. Deferred project costs are then recognized or amortized to an expense captioned “cost of consulting services provided” on the accompanying consolidated statement of operations, when the revenue is recognized upon the delivery and acceptance of the defined contractual milestones or deliverables. Technology Business Segment Once our nuclear fuel designs have advanced to a commercially usable stage by either a fuel fabricator or nuclear plant owner/operator, we will seek to license our technology to them or to major government contractors working for the U.S. or other governments. We expect that our revenue from these license fees will be recognized on a straight-line basis over the expected period of the related license term. Stock-Based Compensation The stock-based compensation expense incurred by Lightbridge for employees and directors in connection with its stock option plan is based on the employee model of ASC 718, and the fair market value of the options is measured at the grant date. Under ASC 718 employee is defined as, “An individual over whom the grantor of a share-based compensation award exercises or has the right to exercise sufficient control to establish an employer-employee relationship based on common law as illustrated in case law and currently under U.S. Tax Regulations”. Our advisory board members and consultants do not meet the employer-employee relationship as defined by the IRS and therefore are accounted for under ASC 505-50. ASC 505-50-30-11 (previously EITF 96-18) further provides that an issuer shall measure the fair value of the equity instruments in these transactions using the stock price and other measurement assumptions as of the earlier of the following dates, referred to as the measurement date: i. The date at which a commitment for performance by the counterparty to earn the equity instruments is reached (a performance commitment); and ii. The date at which the counterparty’s performance is complete. We have elected to use the Black-Scholes-Merton pricing model to determine the fair value of stock options on the measurement date of the grant. Restricted stock units are measured based on the fair market values of the underlying stock on the measurement date of the grant. Shares that are issued to officers on the exercise dates of their stock options may be issued net of the statutory withholding requirements to be paid by us on behalf of our employees. As a result, the actual number of shares issued will be fewer than the actual number of shares exercised under the stock option. We recognize stock-based compensation using the straight-line method. For each of the years ended December 31, 2014 and 2013, we recognized stock-based compensation of approximately $0.3 million. Related income tax benefits were not recognized, as we incurred a tax loss for both years. Fair Value of Financial Instruments The carrying amounts of our financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities, approximate fair value because of their generally short maturities. We carry marketable securities at fair value. All marketable securities were sold in 2014. Cash and Cash Equivalents, Restricted Cash and Marketable Securities We invest our excess cash in money market mutual funds, and mutual bond funds. We classify all highly liquid investments with stated maturities of three months or less from date of purchase as cash equivalents and all highly liquid investments with stated maturities of greater than three months as marketable securities. We hold cash balances in excess of the federally insured limits of $250,000 with one prominent financial institution. We deem this credit risk not to be significant as our cash is held by a major prominent financial institution. Total cash and cash equivalents held in checking accounts and a money market core cash account, as reported on the accompanying consolidated balance sheets, totaled approximately $4.2 million and $3.7 million at December 31, 2014 and 2013, respectively. Restricted cash represents cash being held by one prominent financial institution that is being used as collateral for our corporate credit cards and future letters of credit that we may issue to some of our foreign customers. The total balance of our restricted cash at December 31, 2014 and 2013 was approximately $0.3 million and $0.6 million, respectively. Currently $30,000 of the restricted cash is dedicated to our corporate credit card and daily ACH transaction limit. The balance of the restricted cash is for future letters of credit. There were no Letters of Credit outstanding at December 31, 2014 and 2013. We are free to lower the amount of cash held in the restricted account if we decide to discontinue this arrangement with our Financial Institution. All marketable securities are classified as available-for-sale securities and are reported at their fair value (level 1). A level 1 measurement under the FASB pronouncements is the first tier of a three tier hierarchy for fair value measurements used in valuation methodologies. This valuation level allows for fair value measurements where the inputs are the quoted prices for the assets in the active markets. All of our marketable securities have quoted market prices and these quoted prices are used to determine the fair value of our marketable securities. The total quoted fair value of our marketable securities at December 31, 2014 and December 31, 2013, was approximately $0 and $16,000, respectively. This amount was held in Vanguard High Yield Corp Investor Fund (Symbol -VWEHX). The cost basis of this above investment at December 31, 2013, was approximately $15,000. Investment Income (loss) is earned on marketable securities and consists of unrealized gains (losses), realized capital gains or losses, interest and dividends received, as reported to us from the financial institutions in which they were reinvested, and totaled approximately $2,000 and ($8,000) for the years ended December 31, 2014 and 2013, respectively. We elected the fair value option permitted under FASB ASC 825 to report the unrealized gains and losses from our marketable securities in our accompanying consolidated statement of operations instead of other comprehensive income and loss. Management believes the fair value option provides a better indication of the Company’s performance. Trade Accounts Receivable We record accounts receivable at the invoiced amount and we do not charge interest. We review the accounts receivable by amounts due from customers which are past due, to identify specific customers with known disputes or collectability issues. In determining the amount of the reserve, we make judgments about the creditworthiness of significant customers based on ongoing credit evaluations. We will also maintain a sales allowance to reserve for potential credits issued to customers. We will determine the amount of the reserve based on historical credits issued. There was no provision for doubtful accounts recorded at December 31, 2014 and 2013, as we have not experienced any significant bad debt write-offs from any of our customers. Substantially all accounts receivable at December 31, 2014 and 2013 are from the FANR and ENEC contracts (see Note 4-Accounts Receivable – Project Revenue and Reimbursable Project Costs). Income Taxes Income taxes are accounted for under the asset and liability method in accordance with United States generally accepted accounting principles. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial carrying amounts of existing assets and liabilities and their respective tax bases as well as operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance to the extent that the recoverability of the asset is unlikely to be recognized. We did not provide any current or deferred income tax provision or benefit for any periods presented to date because we have continued to experience a net operating loss since inception and therefore provide a 100% valuation allowance against all of our deferred tax assets (see Note 8–Income Taxes). Foreign Currency The functional currency of our international subsidiaries and branches is the local currency. We translate the financial statements of these subsidiaries to U.S. dollars using month-end rates of exchange for assets and liabilities, and average rates of exchange for revenues, costs, and expenses. The translation gains/losses for our branch office in Russia were not significant for the years ended December 31, 2014 and 2013. Patents and Legal Costs Patents are stated on the accompanying consolidated balance sheets at cost less accumulated amortization. The costs of the patents, once placed in service, will be amortized on a straight-line basis over their estimated useful lives or the remaining legal lives of the patents, whichever is shorter. The amortization periods for our patents can range between 17 and 20 years if placed into service at the beginning of their legal lives. Our patents have not been placed in service for the years ended December 31, 2014 and 2013. Legal costs are expensed as incurred except for legal costs to file for patent extensions and protection, which are capitalized and reported as patents on the accompanying consolidated balance sheets. Impairment of long-lived assets Long-lived assets of the Company are reviewed for impairment whenever events or circumstances indicate that the carrying amount of assets may not be recoverable. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. The Company did not consider it necessary to record any impairment charges for the years ended December 31, 2014 and 2013. Research, Development and Related Expenses These costs from our Technology business segment are charged to operations in the year incurred and are shown on a separate line on the accompanying Consolidated Statements of Operations. Research and development and related expenses totaled approximately $1.5 million and $2.0 million for the years ended December 31, 2014 and 2013, respectively. Segment Reporting We use the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by our chief decision makers for making operating decisions and assessing performance, as the source for determining our reportable segments. We have determined that we have two operating segments as defined by the FASB accounting pronouncement, “ Disclosures about Segments of an Enterprise and Related Information Commitments and Contingencies The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the consolidated financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s consolidated financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. The Company’s legal costs associated with contingent liabilities are recorded to expense as incurred. Warrant Liability The Company accounts for stock warrants as either equity instruments or derivative liabilities depending on the specific terms of the warrant agreement. Stock warrants are accounted for as a derivative in accordance with Accounting Standards Codification 815, Derivatives and Hedging (“ASC 815”) if the stock warrants contain terms that could potentially require “net cash settlement” and therefore, do not meet the scope exception for treatment as a derivative. Warrant instruments that could potentially require “net cash settlement” in the absence of express language precluding such settlement are initially classified as derivative liabilities at their estimated fair values, regardless of the likelihood that such instruments will ever be settled in cash. The Company will continue to classify the fair value of the warrants that contain “net cash settlement” as a liability until the warrants are exercised, expire or are amended in a way that would no longer require these warrants to be classified as a liability. For additional discussion on warrants, see Note 9. Recent Accounting Pronouncements In May 2014, the FASB issued guidance on revenue from contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. The guidance is effective for the interim and annual periods beginning on or after December 15, 2017, (early adoption is not permitted). The guidance permits the use of either a retrospective or cumulative effect transition method.

Restatement of Financial Statem

Restatement of Financial Statements	12 Months Ended
	Dec. 31, 2014
Restatement of Financial Statements [Text Block]	Note 2. Restatement of Consolidated Financial Statements On November 4, 2015, the Audit Committee of the Company’s Board of Directors (the “Audit Committee”), in connection with an internal review initiated by Company management, concluded that, because of a misapplication of the accounting guidance related to certain of the Company’s warrants, the Company’s previously issued consolidated financial statements for all periods beginning with the quarterly period ended September 30, 2010 through June 30, 2015 (collectively, the “Affected Periods”) should no longer be relied upon. As such, the Company is restating in this Annual Report its financial statements for the following periods: (i) the years ended December 31, 2014 and December 31, 2013, and (ii) all quarterly periods of 2014 and 2013, and (iii) the quarterly periods ended March 31, 2015 and June 30, 2015. However, these restatements result in non-cash, non-operating financial statement corrections and will have no impact on the Company’s current or previously reported cash position, operating expenses or total operating, investing or financing cash flows, or net operating loss carryforward. The Company’s December 31, 2012 opening balances were adjusted to reflect the cumulative impact of these restatements as a decrease in additional paid-in capital of approximately $4.9 million and a decrease in accumulated deficit of approximately $4.4 million, for a total change to stockholders’ equity of approximately $0.5 million. The warrants at issue (collectively, the “Warrants”) consist of the following outstanding as of December 31, 2014 and December 31, 2013: December 31, 2014 2013 Issued to Investors on July 28,2010, entitling the holders to purchase 1,034,996 1,034,996 1,034,996 Issued to Investors on October 25, 2013, entitling the holders to purchase 1,250,000 1,117,178 1,250,000 Issued to Investors on November 17, 2014, entitling the holders to purchase 2,734,590 2,734,590 - Total 4,886,764 2,284,996 The Warrants were classified as equity on the Company’s consolidated balance sheets. The corresponding Consolidated Statements of Operations did not include the non-cash changes in the estimated fair value of such Warrants. Those Warrants, however, contain a cash settlement feature regarding fundamental transactions that allowed those Warrant holders to have a different settlement option than the Company’s stockholders upon certain fundamental transactions, including a change of control of the Company, thereby precluding equity treatment for the Warrants. Based on Accounting Standards Codification 815, Derivatives and Hedging The cumulative effect of these adjustments on our financial statements is a 7.7% decrease in the accumulated deficit in the amount of approximately $5.8 million as of December 31, 2014. The restatement had no impact on net cash flows from operating, investing or financing activities as the adjustments resulting from the non-cash change in the fair value of the warrant liability for each period and the statements of operations only impacted net loss from operations. Impact of the Restatement – December 31, 2014 and December 31, 2013 Year Ended December 31, 2014 As Previously Reported Adjustment As Restated Consolidated Statement of Operations Data: Warrant revaluation $ - 1,162,730 $ 1,162,730 Loss from operations before income taxes (4,817,044 ) 1,162,730 (3,654,314 ) Net loss (4,817,044 ) 1,162,730 (3,654,314 ) Net loss per share, basic and diluted $ (0.31 ) 0.07 $ (0.24 ) As of December 31, 2014 As Previously Adjustment As Restated Reported Consolidated Balance Sheet Data: Warrant liability $ - 4,633,312 $ 4,633,312 Total liabilities 653,669 4,633,312 5,286,981 Additional paid-in capital 81,276,339 (10,474,875 ) 70,801,464 Accumulated deficit (75,894,854 ) 5,841,563 (70,053,291 ) Total stockholders’ equity $ 5,399,568 (4,633,312 ) $ 766,256 Year Ended December 31, 2014 As Previously Adjustment As Restated Consolidated Cash Flows Data: Net loss $ (4,817,044 ) 1,162,730 $ (3,654,314 ) Warrant revaluation $ - (1,162,730 ) $ (1,162,730 ) Year Ended December 31, 2013 As Previously Adjustment As Restated Reported Consolidated Statement of Operations Data: Warrant revaluation $ - 277,796 $ 277,796 Loss from operations before income taxes (4,864,961 ) 277,796 (4,587,165 ) Net loss (4,864,961 ) 277,796 (4,587,165 ) Net loss per share, basic and diluted $ (0.37 ) 0.02 $ (0.35 ) As of December 31, 2013 As Previously Reported Adjustment As Restated Consolidated Balance Sheet Data: Warrant liability $ - 1,711,331 $ 1,711,331 Total liabilities 476,628 1,711,331 2,187,959 Additional paid-in capital 76,243,764 (6,390,164 ) 69,853,600 Accumulated deficit (71,077,810 ) 4,678,833 (66,398,977 ) Total stockholders’ equity $ 5,181,011 (1,711,331 ) $ 3,469,680 Year Ended December 31, 2013 As Previously Reported Adjustment As Restated Consolidated Cash Flows Data: Net loss $ (4,864,961 ) 277,796 $ (4,587,165 ) Warrant revaluation $ - (277,796 ) $ (277,796 ) Three Months Ended September 30, 2014 As Previously Reported Adjustment As Restated Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - 857,308 $ 857,308 Income (loss) from operations before income taxes (761,312 ) 857,308 95,996 Net Income (loss) (761,312 ) 857,308 95,996 Net income (loss) per share, basic and diluted $ (0.05 ) 0.06 $ 0.01 Three Months Ended September 30, 2013 As Previously Reported Adjustment As Restated Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - (47,862 ) $ (47,862 ) Loss from operations before income taxes (1,319,279 ) (47,862 ) (1,367,141 ) Net loss (1,319,279 ) (47,862 ) (1,367,141 ) Net loss per share, basic and diluted $ (0.11 ) (0.00 ) $ (0.11 ) Nine Months Ended September 30, 2014 As Previously Adjustment As Restated Reported Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - (1,213,051 ) $ (1,213,051 ) Loss from operations before income taxes (3,850,342 ) (1,213,051 ) (5,063,393 ) Net loss (3,850,342 ) (1,213,051 ) (5,063,393 ) Net loss per share, basic and diluted $ (0.26 ) (0.08 ) $ (0.34 ) Nine Months Ended September 30, 2013 As Previously Reported Adjustment As Restated Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - (85,873 ) $ (85,873 ) Loss from operations before income taxes (3,622,046 ) (85,873 ) (3,707,919 ) Net loss (3,622,046 ) (85,873 ) (3,707,919 ) Net loss per share, basic and diluted $ (0.29 ) (0.01 ) $ (0.30 ) As of September 30, 2014 As Previously Reported Adjustment As Restated Consolidated Balance Sheet Data (unaudited): Warrant liability $ - 2,593,238 $ 2,593,238 Total liabilities 389,404 2,593,238 2,982,642 Additional paid-in capital 76,776,381 (6,059,020 ) 70,717,361 Accumulated deficit (74,928,152 ) 3,465,782 (71,462,370 ) Total stockholder’s equity (deficit) $ 1,863,433 (2,593,238 ) $ (729,805 ) Nine Months Ended September 30, 2014 As Previously Adjustment As Restated Reported Consolidated Cash Flows Data (unaudited): Net loss $ (3,850,342 ) (1,213,051 ) $ (5,063,393 ) Warrant revaluation $ - 1,213,051 $ 1,213,051 Nine Months Ended September 30, 2013 As Previously Adjustment As Restated Reported Consolidated Cash Flows Data (unaudited): Net loss $ (3,622,046 ) (85,873 ) $ (3,707,919 ) Warrant revaluation $ - 85,873 $ 85,873 Three Months Ended June 30, 2014 As Previously Adjustment As Restated Reported Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - (96,029 ) $ (96,029 ) Loss from operations before income taxes (1,655,108 ) (96,029 ) (1,751,137 ) Net loss (1,655,108 ) (96,029 ) (1,751,137 ) Net loss per share, basic and diluted $ (0.11 ) (0.01 ) $ (0.12 ) Three Months Ended June 30, 2013 As Previously Reported Adjustment As Restated Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - 75,815 $ 75,815 Loss from operations before income taxes (1,023,844 ) 75,815 (948,029 ) Net loss (1,023,844 ) 75,815 (948,029 ) Net loss per share, basic and diluted $ (0.08 ) - $ (0.08 ) Six Months Ended June 30, 2014 As Previously Adjustment As Restated Reported Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - (2,070,359 ) $ (2,070,359 ) Loss from operations before income taxes (3,089,030 ) (2,070,359 ) (5,159,389 ) Net loss (3,089,030 ) (2,070,359 ) (5,159,389 ) Net loss per share, basic and diluted $ (0.21 ) (0.13 ) $ (0.34 ) Six Months Ended June 30, 2013 As Previously Reported Adjustment As Restated Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - (38,011 ) $ (38,011 ) Loss from operations before income taxes (2,302,766 ) (38,011 ) (2,340,777 ) Net loss (2,302,766 ) (38,011 ) (2,340,777 ) Net loss per share, basic and diluted $ (0.18 ) (0.01 ) $ (0.19 ) As of June 30, 2014 As Previously Reported Adjustment As Restated Consolidated Balance Sheet Data (unaudited): Warrant liability $ - 3,781,690 $ 3,781,690 Total liabilities 854,848 3,781,690 4,636,538 Additional paid-in capital 76,369,046 (6,390,164 ) 69,978,882 Accumulated deficit (74,166,840 ) 2,608,474 (71,558,366 ) Total stockholders’ equity (deficit) $ 2,217,278 (3,781,690 ) $ (1,564,412 ) Six Months Ended June 30, 2014 As Previously Adjustment As Restated Reported Consolidated Cash Flows Data (unaudited) Net loss $ (3,089,030 ) (2,070,359 ) $ (5,159,389 ) Warrant revaluation $ - 2,070,359 $ 2,070,359 Six Months Ended June 30, 2013 As Previously Reported Adjustment As Restated Consolidated Cash Flows Data (unaudited) (unaudited): Net loss $ (2,302,766 ) (38,011 ) $ (2,340,777 ) Warrant revaluation $ - 38,011 $ 38,011 Three Months Ended March 31, 2014 As Previously Adjustment As Restated Reported Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - (1,974,330 ) $ (1,974,330 ) Loss from operations before income taxes (1,433,922 ) (1,974,330 ) (3,408,252 ) Net loss (1,433,922 ) (1,974,330 ) (3,408,252 ) Net loss per share, basic and diluted $ (0.10 ) (0.13 ) $ (0.23 ) Three Months Ended March 31, 2013 As Previously Adjustment As Restated Reported Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - (113,826 ) $ (113,826 ) Loss from operations before income taxes (1,278,922 ) (113,826 ) (1,392,748 ) Net loss (1,278,922 ) (113,826 ) (1,392,748 ) Net loss per share, basic and diluted $ (0.10 ) (0.01 ) $ (0.11 ) As of March 31, 2014 As Previously Adjustment As Restated Reported Consolidated Balance Sheet Data (unaudited): Warrant liability $ - 3,685,661 $ 3,685,661 Total liabilities 636,742 3,685,661 4,322,403 Additional paid-in capital 76,303,552 (6,390,164 ) 69,913,388 Accumulated deficit (72,511,732 ) 2,704,503 (69,807,229 ) Total stockholders’ equity $ 3,806,884 (3,685,661 ) $ 121,223 Three Months Ended March 31, 2014 As Previously Reported Adjustment As Restated Consolidated Cash Flows Data (unaudited): Net loss $ (1,433,922 ) (1,974,330 ) $ (3,408,252 ) Warrant revaluation $ - 1,974,330 $ 1,974,330 Three Months Ended March 31, 2013 As Previously Reported Adjustment As Restated Consolidated Cash Flows Data (unaudited): Net loss $ (1,278,922 ) (113,826 ) $ (1,392,748 ) Warrant revaluation $ - 113,826 $ 113,826

Net Loss Per Share

Net Loss Per Share	12 Months Ended
	Dec. 31, 2014
Net Loss Per Share [Text Block]	Note 3. Net Loss Per Share Basic net loss per share is computed using the weighted-average number of common shares outstanding during the period except that it does not include unvested common shares subject to repurchase or cancellation. Diluted net income per share is computed using the weighted-average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options, warrants, restricted shares, and unvested common shares subject to repurchase or cancellation. The dilutive effect of outstanding stock options, restricted shares, restricted stock units, and warrants is not reflected in diluted earnings per share because we incurred net losses for the years ended December 31, 2014 and 2013, and the effect of including these potential common shares in the diluted earnings per share calculations would be anti-dilutive and are therefore not included in the calculations. The following table sets forth the computation of the basic and diluted loss per share (in millions except shares and per share amounts): 2014 2013 (Restated) (Restated) Numerator: Net loss $ (3.7 ) $ (4.6 ) Denominator: Weighted-average common shares outstanding 15,463,392 13,009,575 Basic and diluted net loss per share $ (0.24 ) $ (0.35 )

Accounts Receivable -Project Re

Accounts Receivable -Project Revenue and Reimbursable Project Costs	12 Months Ended
	Dec. 31, 2014
Accounts Receivable -Project Revenue and Reimbursable Project Costs [Text Block]	Note 4. Accounts Receivable – Project Revenue and Reimbursable Project Costs FANR and ENEC Projects The total accounts receivable from the FANR and ENEC contracts was approximately $0.5 and $0.4 million at December 31, 2014 and 2013, respectively. These amounts due from FANR and ENEC represent approximately 92% of the total accounts receivable reported at December 31, 2014. Approximately 81% and 95% of the total revenues reported for the years ended December 31, 2014 and 2013, were from the FANR and ENEC contracts. Approximately 15% of the total revenues for the year ended December 31, 2014 was from the Lloyd’s Register contract. Total unbilled accounts receivable included in the accompanying consolidated balance sheets and reported in accounts receivable of approximately $40,000 and $100,000 at December 31, 2014 and 2013, and is for work that was billed to our clients in January 2015 and January 2014, respectively. Foreign currency transaction exchange losses and translation gains and losses for the year ended December, 2014 and 2013, were not significant. Travel costs and other reimbursable costs under these contracts are reported in the accompanying statement of operations as both revenue and cost of consulting services provided, and totaled approximately $0.1 million for the years ended December 31, 2014 and 2013, respectively. The total travel and other reimbursable expenses that have not been reimbursed to us and are included in total accounts receivable reported above from our consulting contracts was not significant at December 31, 2014 and 2013. Under these agreements, revenue will be recognized on a time and expense basis and fixed contract basis with revenue recognized upon the completion of contract milestones and acceptance by the client. We periodically discuss our consulting work with ENEC and FANR, who will review the work we perform, and our reimbursable travel expenses, and accept our monthly invoicing for services and reimbursable expenses. We expect the variation of revenue we earn from these contracts to continue.

Prepaid Expenses & Other Curren

Prepaid Expenses & Other Current Assets	12 Months Ended
	Dec. 31, 2014
Prepaid Expenses & Other Current Assets [Text Block]	Note 5. Prepaid Expenses & Other Current Assets Prepaid expenses consist primarily of prepayments made for various insurance policies, travel, rent, and other miscellaneous prepayments. Total prepaid expenses and other current assets reported on the accompanying consolidated balance sheets at December 31, 2014 and 2013, were approximately $0.2 million and $0.3 million, respectively. One month of rent or approximately $30,000 represents the security deposit placed on the McLean, Virginia corporate offices. The security deposit at December 31, 2014 and 2013, is reported under the balance sheet caption prepaid expenses and other current assets.

Patents and Other Assets

Patents and Other Assets	12 Months Ended
	Dec. 31, 2014
Patents and Other Assets [Text Block]	Note 6. Patents and Other Assets Patents represent legal fees and filing costs that are capitalized and amortized over their estimated useful lives of 17 to 20 years or their remaining legal lives, whichever is shorter, after they are placed in service. There were no patents placed in service for the years ended December 31, 2014 and 2013. In both 2014 and 2013, we capitalized approximately $0.1 million for patent filing costs, for a total investment in patents of approximately $0.8 million and $0.7 million as of December 31, 2014 and 2013, respectively. No amortization expense of patents was recorded in either of the years ended December 31, 2014 and 2013. These patents were not placed in service for the years ended December 31, 2014 and 2013, or in prior years.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	12 Months Ended
	Dec. 31, 2014
Accounts Payable and Accrued Liabilities [Text Block]	Note 7. Accounts Payable and Accrued Liabilities Accounts payable and accrued expenses (in millions) consisted of the following: December 31, December 31, 2014 2013 Trade payables $ 0.3 $ 0.1 Accrued expenses and other 0.4 0.1 Accrued payroll liabilities 0.0 0.3 Total $ 0.7 $ 0.5

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2014
Income Taxes [Text Block]	Note 8. Income Taxes Our tax provision is determined using an estimate of our annual effective tax rate adjusted for discrete items, if any, that are taken into account in the relevant period. The 2014 and 2013 annual effective tax rate is estimated to be a combined 38% for the U.S. federal and state statutory tax rate. We review tax uncertainties in light of changing facts and circumstances and adjust them accordingly. As of December 31, 2014 and 2013, there were no tax contingencies recorded. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities recognized for financial reporting, and the amounts recognized for income tax purposes. The significant components of deferred tax assets (at a 38% effective tax rate) as of December 31, 2014 and 2013, respectively, are as follows: Deferred Tax Assets Our tax provision is determined using an estimate of our annual effective tax rate adjusted for discrete items. The 2014 and 2013 annual effective tax rate is estimated to be a combined 38% for the U.S. federal and state statutory tax rates. We review tax uncertainties in light of changing facts and circumstances and adjust them accordingly. As of December 31, 2014 and 2013, there were no tax contingencies recorded. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities recognized for financial reporting, and the amounts recognized for income tax purposes. The significant components of deferred tax assets (at a 38% effective tax rate) as of December 31, 2014 and 2013, respectively, are as follows: Deferred Tax Assets Total Total Deferred Tax Asset 2014 2013 2014 2013 Capitalized start-up costs $ 4.1 $ 4.6 $ 1.5 $ 1.7 Stock-based compensation - net 16.5 16.3 6.3 6.2 Net operating loss carry-forward 45.2 40.1 17.2 15.3 Less: valuation allowance (65.8 ) (61.0 ) (25.0 ) (23.2 ) Total $ - $ - $ - $ - We have a net operating loss carry-forward for federal and state tax purposes of approximately $45.2 million at December 31, 2014, that is potentially available to offset future taxable income, which will begin to expire in the year 2021. For financial reporting purposes, no deferred tax asset was recognized because at December 31, 2014 and 2013, management estimates that it is more likely than not that substantially all of the net operating losses will expire unused. As a result, the amount of the deferred tax assets considered realizable was reduced 100% by a valuation allowance. The change in the valuation allowance was approximately $1.8 million and $1.7 million for the years ended December 31, 2014 and 2013, respectively. Many of the Company’s operating expenses in its 2007 and 2006 tax years were classified under the Internal Revenue Code as capitalized “Startup Costs”, which did not begin to be deductible for tax purposes until 2008. The Company files a consolidated tax return with its subsidiaries. The Company is no longer subject to U.S. federal, state, or non-U.S. income tax examinations by tax authorities for tax years before 2011, except that earlier years can be examined for the sole purpose of challenging the net operating loss carry-forwards arising in those years. The reconciliation between income taxes (benefit) at the U.S. and State statutory tax rates and the amount recorded in the accompanying consolidated financial statements is as follows: December 31, December 31, ($ in millions) 2014 2013 Tax benefit at U.S. federal statutory rate $ (1.2 ) $ (1.6 ) State income taxes/(benefit) before valuation allowance, net of federal benefit (0.1 ) (0.2 ) Warrant revaluation (income)/expense (0.4 ) (0.1 ) Capitalized start-up costs (0.2 ) (0.2 ) Stock-based compensation 0.1 (0.4 ) Increase in valuation allowance 1.8 2.5 Total provision for income tax benefit $ 0 $ 0

Warrant Liability

Warrant Liability	12 Months Ended
	Dec. 31, 2014
Warrant Liability [Text Block]	Note 9. Warrant Liability The Company accounts for stock warrants as either equity instruments or derivative liabilities depending on the specific terms of the warrant agreement. Stock warrants are accounted for as a derivative in accordance with Accounting Standards Codification 815, Derivatives and Hedging Liability-classified Warrants The foregoing warrants are recorded as liabilities at their estimated fair value at the date of issuance, with the subsequent changes in estimated fair value recorded in other income (expense) in the Company’s statement of operations in each subsequent period. The change in the estimated fair value of our warrant liability for the years ended December 31, 2014 and 2013 resulted in non-cash income of approximately $1.2 million and non-cash income of approximately $0.3 million, respectively. The Company utilizes the Monte Carlo simulation valuation method to value the liability classified warrants. The estimated fair value of these warrants is determined using Level 3 inputs. Inherent in the Monte Carlo valuation model are assumptions related to expected stock-price volatility, expected life, risk-free interest rate and dividend yield. The Company estimates the volatility of its common stock based on historical volatility that matches the expected remaining life of the warrants. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the grant date for a maturity similar to the expected remaining life of the warrants. The expected life of the warrants is assumed to be equivalent to their remaining contractual term. The dividend rate is based on the historical rate, which the Company anticipates to remain at zero. The following table summarizes the calculated aggregate fair values, along with the assumptions utilized in each calculation: December 31, December 31, 2014 2013 Calculated aggregate value $ 4,633,312 $ 1,711,331 Weighted average exercise price per share of warrant $ 3.72 $ 5.33 Closing price per share of common stock $ 1.55 $ 1.45 Weighted average volatility 89.80 88.94 Weighted average remaining expected life (years) 6.11 5.62 Weighted average risk-free interest rate 1.94 2.02 Dividend yield 0% 0%

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies [Text Block]	Note 10. Commitments and Contingencies Operating Leases On October 16, 2013, we entered into a 1 year sub-lease agreement with our current landlord for our current office space starting January 1, 2014 and terminating December 31, 2014. The monthly rent payment was approximately $32,000 plus additional charges. On January 1, 2015 we entered into a new sub-lease for our current office space for 38 months, with a monthly rent payment of approximately $32,000 per month plus additional charges. We paid rent for our Moscow office of approximately $12,000 per month, on a month-to-month basis for the year ended December 31, 2014. The Company will discontinue renting its Moscow office in 2015. Total rent expense was approximately $0.5 million and $0.7 million for the years ended December 31, 2014 and 2013. Litigation Our former Chief Financial Officer, filed a complaint against the Company and Seth Grae, President and Chief Executive Officer, with the Circuit Court of Fairfax County, Virginia (the “Fairfax County Complaint”), and a separate complaint against the Company with the U.S. Occupational Safety and Health Administration (the “OSHA Complaint”) on March 9, 2015. The Fairfax County Complaint contained two claims for damages. The first claim alleged that the Company and Mr. Grae made defamatory statements regarding the former Chief Financial Officer. The claim demands at least $1,000,000 in compensatory damages; costs, including reasonable fees for attorneys; and punitive damages of $1,000,000. The second claim alleges that the Company breached the former Chief Financial Officer employment contract by not paying the former Chief Financial Officer $15,507 for paid time off, and demands additional compensatory damages of at least $15,507. The OSHA Complaint alleges that the Company unlawfully retaliated against the former Chief Financial Officer for challenging allegedly improper actions of the Company by making allegedly defamatory statements and terminating him from his employment with the Company. The former Chief Financial Officer’s demand for damages is for back pay, front pay, and special damages. The complaint did not specify the amount of damages sought. The Company believes that all of the claims by the former Chief Financial Officer are without merit and intends to vigorously defend itself.

Research and Development Costs

Research and Development Costs	12 Months Ended
	Dec. 31, 2014
Research and Development Costs [Text Block]	Note 11. Research and Development Costs Research and Development Costs Research and development costs, included in the accompanying consolidated statement of operations amounted to approximately $1.5 million and $2.0 million for each of the years ended December 31, 2014 and 2013, respectively. We intend to close our Moscow office in 2015 and focus our research and development in Canada. On October 20, 2014, we announced the signing of an initial cooperation agreement with Canadian Nuclear Laboratories (“CNL”), formerly known as Atomic Energy of Canada Limited-Chalk River Laboratories, for fabrication and test reactor irradiation of Lightbridge's patented next generation metallic nuclear fuel samples. The work will take place at CNL's facilities at Chalk River, Ontario, Canada. The joint work will proceed in three phases that will address: Quality management planning to ensure compliance with the U.S. Nuclear Regulatory Commission requirements for fabrication and loop irradiation testing of fuel samples (Phase I); Development of a fabrication plan and a preliminary experiment design for loop irradiation testing (Phase II); and Fabrication and irradiation of Lightbridge-designed metallic fuel samples (Phase III). The Initial Cooperation Agreement enables the Phase I work. Over the next several months, we intend to complete negotiations relating to two other enabling agreements: Nuclear Engineering Services Agreement that will address Phase II; and Umbrella Services Agreement that will provide a comprehensive legal framework for multi-year cooperation between the parties to enable the final phase of work to proceed. The Initial Cooperation Agreement is non-exclusive and does not prevent either party from working with other fuel fabrication or fuel development partners. We have consulting agreements with several consultants working on various projects for us, which total approximately $10,000 per month.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2014
Stockholders' Equity [Text Block]	Note 12. Stockholders’ Equity At December 31, 2014 and 2013, there are 500,000,000 shares of authorized common stock. Total common stock outstanding at December 31, 2014 and 2013, was 18,082,874 shares and 15,057,243 shares, respectively. At December 31, 2014, there were 4,886,764 stock warrants and 2,026,564 stock options outstanding, all totaling 24,996,202 of total stock and stock equivalents outstanding at December 31, 2014. Registered Direct Offerings and Outstanding Warrants November 12, 2014 Offering On November 12, 2014 we completed an offering with one existing institutional investor pursuant to which the Company sold an aggregate of 2,878,516 shares of its common stock and warrants to purchase a total of 2,734,590 shares of its common stock for aggregate gross proceeds, before deducting fees to the Placement Agent and other estimated offering expenses payable by the Company, of approximately $5 million. The common stock and warrants were sold in fixed combinations, with each combination consisting of one share of common stock and a warrant to purchase 0.95 shares of common stock. The purchase price is $1.75 per fixed combination. The warrants will become exercisable six months and one day following the closing date of the Offering and will remain exercisable for seven-and-a-half years from the date of issuance at an exercise price of $2.31 per share. The exercise price of the warrants is subject to adjustment in the case of stock splits, stock dividends, combinations of shares, and similar recapitalization transactions. The exercisability of the warrants may be limited if, upon exercise, the holder or any of its affiliates would beneficially own more than 4.99% of the Company's common stock. This limit may be increased to up to 19.99% upon no fewer than 60 days' notice to the Company. We received net proceeds of approximately $4.5 million after payment of certain fees and expenses related to the Offering. The allocation of the proceeds from the offering, was originally recorded based on the relative fair value of the common stock and the warrants and the value of the warrants was recorded to additional paid in capital. The Company has reclassified these warrants from equity to liability and the fair value of that liability is re-measured at every reporting date. Changes in the fair value of the warrant liability are recognized in current earnings. October 21, 2013 Offering On October 21, 2013, we completed an offering with certain institutional investors on the sale of 2,500,000 shares of our common stock and warrants to purchase a total of 1,250,000 shares of our common stock for aggregate gross proceeds, before deducting fees to the Placement Agent and other estimated offering expenses payable by us, of approximately $4.4 million. The common stock and warrants were sold in fixed combinations, with each combination consisting of one share of common stock and a warrant to purchase 0.5 shares of common stock. The purchase price was $1.75 per fixed combination. The warrants become exercisable nine months and one day following the closing date (October 21, 2013, i.e., exercisable beginning April 22, 2014) of the offering and will remain exercisable for 7.5 years from the date of issuance at an exercise price of $2.30 per share. The exercise price of the warrants is subject to adjustment in the case of stock splits, stock dividends, combinations of shares, and similar recapitalization transactions. The exercisability of some of the warrants may be limited if, upon exercise, the holder or any of its affiliates would beneficially own more than 4.99% of our common stock. This limit may be increased to up to 9.99% upon no fewer than 60 days' notice. We received net proceeds of approximately $4.0 million after payment of certain fees and expenses related to the Offering. The allocation of the proceeds from the offering, was originally recorded based on the relative fair value of the common stock and the warrants and the value of the warrants was recorded to additional paid in capital. The Company has reclassified these warrants from equity to liability and the fair value of that liability is re-measured at every reporting date. Changes in the fair value of the warrant liability are recognized in current earnings. July 22, 2010 Offering On July 22, 2010, we completed an offering (the “Offering”) with certain institutional investors on the sale of 2,069,992 shares of our common stock and warrants to purchase a total of 1,034,996 shares of our common stock for aggregate gross proceeds, before deducting fees to the Placement Agent and other estimated offering expenses payable by us, of approximately $13.7 million. The common stock and warrants were sold in fixed combinations, with each combination consisting of one share of common stock and a warrant to purchase 0.5 shares of common stock. The purchase price was $6.60 per fixed combination. The warrants became exercisable nine months and one day following the closing date (July 28, 2010, i.e., exercisable beginning January 29, 2011) of the Offering and will remain exercisable for seven years from the date of issuance at an exercise price of $9.00 per share. The exercise price of the warrants is subject to adjustment in the case of stock splits, stock dividends, combinations of shares, and similar recapitalization transactions. The exercisability of some of the warrants may be limited if, upon exercise, the holder or any of its affiliates would beneficially own more than 4.99% of our common stock. This limit may be increased to up to 9.99% upon no fewer than 60 days' notice. All these warrants remain outstanding at December 31, 2014. Outstanding Warrants December 31, 2014 2013 Issued to Investors on July 28, 2010, entitling the holders to purchase 1,034,996 1,034,996 1,034,996 Issued to Investors on October 25, 2013, entitling the holders to purchase 1,250,000 1,117,178 1,250,000 Issued to Investors on November 17, 2014, entitling the holders to purchase 2,734,590 2,734,590 - Total 4,886,764 2,284,996 Exercise of Warrants – Q3-2014 On September 3, 2014, we issued 132,822 shares of our common stock upon the exercise of warrants issued in conjunction with the October 21, 2013 stock offering. We received $2.30 for each share or $305,931. Stock-based Compensation – Stock Options and Restricted Stock We have a stock-based compensation plan to reward for services rendered by officers, directors, employees, and consultants. On July 17, 2006, we amended this stock plan. We have reserved 2,500,000 shares of common stock of our unissued share capital for the stock plan. Other limitations are as follows: (i) No more than an aggregate of 1,250,000 shares can be granted for the purchase of restricted common shares during the term of the stock plan; (ii) The maximum number of shares of common stock with respect to which options may be granted to any one person during any fiscal year may not exceed 266,667 shares; and (iii) The maximum number of restricted shares that may be granted to any one person during any fiscal year may not exceed 166,667 common shares. Total stock options outstanding at December 31, 2014 and December 31, 2013, were 2,026,564 and 1,564,257, of which 1,564,257 and 1,530,200 of these options were vested at December 31, 2014 and December 31, 2013, respectively. Stock option expense was approximately $55,000 and $37,000 for the quarters ended December 31, 2014 and 2013, respectively. Stock option expense was approximately $262,000 and $225,000 for the years ended December 31, 2014 and 2013, respectively. On May 5, 2014, we granted 579,429 stock options to our employees, directors, and consultants. These stock options vest over three years for employees and consultants, and over one year for our directors. The fair market value of each option was $1.79 on the grant date, based on (1) The strike price of $2.55, the price of our stock at the close of the market on the grant date; (2) The expected life of the grant of 5 years which is equal to the term of the grant, as historically grants have only been exercised just before the term expires; (3) The risk free rate of 1.68% which is based on the treasury yield curve for a 5 year term as published by the U.S. Treasury for the grant date; (4) Volatility of 90.44%, as measured based on the expected life of the options, and (5) Expected dividends of $0.0, as we have never issued dividends and we have no plans to ever issue dividends. Grants to our consultants were re-measured as of December 31, 2014, and the fair market value of each option was $0.93 on the measurement date. We estimated future pre-vest forfeitures to be 1.5%, based on historical information. Stock option transactions to the employees, directors, advisory board members and consultants are summarized as follows for the year ended December 31, 2014: Weighted Weighted Options Average Average Grant Date Outstanding Exercise Fair Price Value Beginning of the year 1,564,257 $ 11.16 $ 10.61 Granted 579,429 2.55 1.79 Exercised - - - Forfeited (117,122 ) $ 2.55 $ 1.79 Expired - $ - $ - End of year 2,026,564 $ 9.19 $ 10.61 Options exercisable 1,564,257 $ 11.16 $ 10.61 Stock option transactions to the employees, directors, advisory board members and consultants are summarized as follows for the year ended December 31, 2013: Weighted Weighted Options Average Average Grant Date Outstanding Exercise Fair Price Value Beginning of the year 1,639,842 $ 11.46 $ 10.85 Granted - - - Exercised - - - Forfeited (7,250 ) $ 6.04 $ 5.51 Expired (68,335 ) $ 18.94 $ 16.90 End of year 1,564,257 $ 11.16 $ 10.61 Options exercisable 1,530,200 $ 11.28 $ 10.73 The above tables include options issued and outstanding as of December 31, 2014, as follows: i) A total of 255,202 non-qualified 10 year options have been issued, and are outstanding, to advisory board members at exercise prices of $4.50 to $14.40 per share. ii) A total of 1,579,415 non-qualified 5 - 10 year options have been issued, and are outstanding, to our directors, officers, and employees at exercise prices of $2.55 to $23.85 per share. From this total, 820,396 options are outstanding to the Chief Executive Officer who is also a director, with remaining contractual lives of 0.9 years to 6.2 years. All other options issued to directors, officers, and employees have a remaining contractual life ranging from 1.6 years to 6.3 years. iii) A total of 191,947 non-qualified 5 - 10 year options have been issued, and are outstanding, to our consultants at exercise prices of $2.55 to $15.30 per share. Stock Options Outstanding Stock Options Vested Weighted Weighted Average Average Remaining Weighted Remaining Weighted Contractual Number Average Contractual Number Average Life of Exercise Life of Exercise -Years Awards Price -Years Awards Price Exercise Prices $2.55 - $5.00 4.26 645,644 $ 3.10 4.06 183,337 $ 4.50 $5.01 - $12.90 4.11 782,584 $ 7.45 4.11 782,584 $ 7.45 $13.50 - 18.90 1.30 358,336 $ 14.17 1.30 358,336 $ 14.17 $19.20 - 23.85 1.12 240,000 $ 23.85 1.12 240,000 $ 23.85 Total 3.31 2,026,564 $ 9.19 3.00 1,564,257 $ 11.16 The following table provides certain information with respect to the above-referenced stock options that are outstanding and exercisable at December 31, 2013: Stock Options Outstanding Stock Options Vested Weighted Weighted Average Average Remaining Weighted Remaining Weighted Contractual Number Average Contractual Number Average Life of Exercise Life of Exercise -Years Awards Price -Years Awards Price Exercise Prices $2.55 - $5.00 5.06 183,337 $ 4.50 5.06 183,337 $ 4.50 $5.01 - $12.90 5.11 782,584 $ 7.45 5.03 748,527 $ 7.53 $13.50 - 18.90 2.30 358,336 $ 14.17 2.30 358,336 $ 14.17 $19.20 - 23.85 2.12 240,000 $ 23.85 2.12 240,000 $ 23.85 Total 4.00 1,564,257 $ 11.16 3.94 1,530,200 $ 11.28 The aggregate intrinsic value of stock options outstanding at December 31, 2014 and December 31, 2013, was $0. Intrinsic value is calculated based on the difference between the exercise price of the underlying awards and the quoted price of our common stock as of the reporting date ($1.55 and $1.45 per share as of the close on December 31, 2014 and December 31, 2013, respectively). Restricted Stock Award Activity Weighted Average Grant Number of Date Fair Units Value Total awards outstanding at December 31, 2012 43,032 $ 6.49 Units granted - $ - Units Exercised/Released (28,739 ) $ 6.99 Units Cancelled/Forfeited - $ - Total awards outstanding at December 31, 2013 14,293 $ 5.47 Units granted - $ - Units Exercised/Released (14,293 ) $ 5.47 Units Cancelled/Forfeited - $ - Total awards outstanding at December 31, 2014 - $ - As of December 31, 2014 and December 31, 2013, there was approximately $0 and $19,000 of net unrecognized compensation cost related to unvested restricted stock-based compensation arrangements, respectively. This compensation is recognized on a straight line basis and all of the compensation expected to be expensed in 2014, has been recognized as of December 31, 2014. We use the historical volatility of our stock price over the number of years that matches the expected life of our stock option grants or we use the historical volatility of our stock price since January 5, 2006, the date we announced that we were becoming a public company, to estimate the future volatility of our stock. At this time we do not believe that there is a better objective method to predict the future volatility of our stock. We estimate the life of our option awards based on the full term of the award. To date we have had very few exercises of our options, and those exercises have occurred just before the expiration date of the awards. Since the strike price of most of our outstanding awards is greater than the price of our stock, generally awards have expired at the end of the term. We estimate the effect of future forfeitures of our grants based on an analysis of historical forfeitures of unvested grants, as we have no better objective basis for that estimate. The expense that we have recognized related to our grants of options and restricted stock includes the estimate for future pre-vest forfeitures. We will adjust the actual expense recognized due to future pre-vest forfeitures as they occur. We have estimated that 1.5% and 0% of our option and restricted stock grants respectively, will be forfeited prior to vesting. Assumptions used in the Black Scholes option-pricing model for the year ended December 31, 2014, and for the year ended December 31, 2011, (there were no stock option grants in 2013 and 2012) were as follows: Year ended Year ended 12/31/2014 12/31/2011 Average risk-free interest rate 1.68% 3.35% Average expected life- years 5 10 Expected volatility 90.44% 94.32% Expected dividends 0 0 Stock-based compensation expense includes the expense related to (1) Grants of stock options, (2) Grants of restricted stock, (3) Stock issued as consideration for some of the services provided by our directors and strategic advisory council members, and (4) Stock issued in lieu of cash to pay bonuses to our employees and contractors. We record stock-based compensation expenses in the caption with all of our other general and administrative expenses. Grants of stock options and restricted stock are awarded to our employees, directors, consultants, and board members, and we recognize the fair market value of these awards ratably as they are earned. The expense related to payments in stock for services is recognized as the services are provided. During the years ended December 31, 2014 and 2013, approximately $0.3 million was recorded as total stock-based compensation each year. Stock-based compensation expense is recorded under the captions general and administrative expenses and research and development expenses in the accompanying consolidated statements of operations.

Business Segment Results

Business Segment Results	12 Months Ended
	Dec. 31, 2014
Business Segment Results [Text Block]	Note 13. Business Segment Results We have two principal business segments, which are (1) Our technology business and (2) Our consulting services business. These business segments were determined based on the nature of the operations and the services offered. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief decision-makers, in deciding how to allocate resources and in assessing performance. Our Chief Executive Officer and Interim Chief Financial Officer have been identified as the chief operating decision makers. Our chief operating decision makers direct the allocation of resources to operating segments based on the profitability, the cash flows, and the business plans of each respective segment. The Company evaluates performance based on several factors, of which achievement of strategic goals toward future profitability and business segment income before taxes are the primary measures. The following tables show the operations of the Company’s reportable business segments for the years ended December 31, 2014 and 2013. BUSINESS SEGMENT RESULTS - YEARS ENDED DECEMBER 31, 2014 AND 2013 Corporate and Consulting Technology Eliminations Total 2014 2013 2014 2013 2014 2013 2014 2013 Revenue $ 1,310,199 $ 1,901,354 $ - $ - $ - $ - $ 1,310,199 $ 1,901,354 Segment Profit - Pre Tax $ 406,078 $ 286,299 $ (1,534,605 ) $ (2,030,194 ) $ (2,525,787 ) $ (2,843,270 ) $ (3,654,314 ) $ (4,587,165 ) Total Assets $ 469,086 $ 425,916 $ 833,560 $ 699,168 $ 4,750,591 $ 4,532,555 $ 6,053,237 $ 5,657,639 Property Additions $ - $ - $ - $ - $ - $ - $ - $ - Interest Expense $ - $ - $ - $ - $ - $ - $ - $ - Deprec. Expense $ - $ - $ - $ - $ - $ 17,221 $ - $ 17,221

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2014
Fair Value Measurements [Text Block]	Note 14. Fair Value Measurements The Company adopted the accounting guidance on fair value measurements for financial assets and liabilities measured on a recurring basis. The guidance requires fair value measurements be classified and disclosed in one of the following three categories: • Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; • Level 2: Quoted prices in markets that are not active or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; • Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). The following fair value hierarchy table presents information about each major category of the Company’s financial assets and liability measured at fair value on a recurring basis as of December 31, 2014 and 2013: Fair value measurement using Significant Significant Quoted prices in other unobservable active markets observable inputs (Level 1) inputs (Level 2) (Level 3) Total Balance at December 31, 2014 Assets: Cash and cash equivalents $ 4,220,225 $ — $ — $ 4,220,225 Liabilities: Warrant liability $ — $ — $ 4,633,312 $ 4,633,312 Fair value measurement using Significant Significant Quoted prices in other unobservable active markets observable inputs (Level 1) inputs (Level 2) (Level 3) Total Balance at December 31, 2013 Assets: Cash and cash equivalents $ 3,672,877 $ — $ — $ 3,672,877 Liabilities: Warrant liability $ — $ — $ 1,711,331 $ 1,711,331 ($ rounded to nearest thousand) Warrant Liability Balance at December 31, 2012 $ 461,000 Issuance of additional warrants 1,528,000 Exercise of warrants - Change in fair value of warrant liability (278,000 ) Balance at December 31, 2013 1,711,000 Issuance of additional warrants 4,416,000 Exercise of warrants (331,000 ) Change in fair value of warrant liability (1,163,000 ) Balance at December 31, 2014 $ 4,633,000 The fair value of the warrant liability is based on Level 3 inputs. For this liability, the Company developed its own assumptions that do not have observable inputs or available market data to support the fair value. See Note 9 for further discussion of the warrant liability. The Company believes that the fair values of its current assets and current liabilities approximate their reported carrying amounts. There were no transfers between Level 1, 2 and 3.

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Basis of Consolidation [Policy Text Block]	Basis of Consolidation These consolidated financial statements include the accounts of Lightbridge, a Nevada corporation, and our wholly-owned subsidiaries, TPI, a Delaware corporation, Lightbridge International Holding LLC, a Delaware limited liability company, and our foreign branch offices. All significant intercompany transactions and balances have been eliminated in consolidation. We registered a branch office in the United Kingdom in 2008 called Lightbridge Advisors Limited (inactive) and we also established a branch office in Moscow, Russia, in July 2009, both of which are wholly owned by Lightbridge International Holding LLC at December 31, 2014. These branch offices will be closed in 2015. Translation gains and losses for the years ended December 31, 2014 and 2013, were not significant.
Use of Estimates and Assumptions [Policy Text Block]	Use of Estimates and Assumptions The preparation of financial statements, in conformity with accounting principles generally accepted in the United States of America, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Significant Estimates [Policy Text Block]	Significant Estimates These accompanying consolidated financial statements include some amounts that are based on management’s best estimates and judgments. The most significant estimates relate to valuation of stock grants and stock options, the valuation allowance on deferred tax assets, and various contingent liabilities. It is reasonably possible that these above-mentioned estimates and others may be adjusted as more current information becomes available, and any adjustment could be significant in future reporting periods. It is also reasonably possible that the actual grant date value of the stock options vested might have been materially different than the estimated value.
Company Liquidity, Certain Risks, Uncertainties and Concentrations [Policy Text Block]	Company Liquidity, Certain Risks, Uncertainties and Concentrations Management anticipates, based on the Company’s projected working capital requirements including its projected research and development expenses over the next 12 months, that it will need to raise additional capital in 2015 by way of an offering of equity securities, an offering of debt securities, or a financing through a bank. The Company continues to reduce its current operating expenses and may also need to reduce its projected research and development expenditures in 2015 in order to maintain sufficient working capital for the next 12 months. We participate in a government-regulated industry. Our operating results are affected by a wide variety of factors including decreases in the use or public favor of nuclear power, the ability of our technology, the ability to safeguard the production of nuclear power, and to safeguard our patents and intellectual property from competitors. Due to these factors, we may experience substantial period-to-period fluctuations in our future operating results. Potentially, a loss of a key officer, key management, and other personnel could impair our ability to successfully execute our business strategy, particularly when these individuals have acquired specialized knowledge and skills with respect to nuclear power and our operations. Our future operations and earnings currently depend on the results of the Company’s operations outside the United States. There can be no assurance that the Company will be able to successfully continue to conduct such operations, and a failure to do so would have a material adverse effect on the Company’s research and development activities, financial position, results of operations, and cash flows. Also, the success of the Company’s operations will be subject to other numerous contingencies, some of which are beyond management’s control. These contingencies include general and regional economic conditions, competition, changes in regulations, changes in accounting and taxation standards, inability to achieve our overall long-term goals, future impairment charges, and global or regional catastrophic events. Because the Company is dependent on its international operations for almost all its revenue, the Company may be subject to various additional political, economic, and other uncertainties. Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash equivalents and accounts receivable. Cash equivalents consist of a checking account held with one major financial institution with a high credit standing.
Revenue Recognition [Policy Text Block]	Revenue Recognition At the present time, we derive all of our revenue from our consulting and strategic advisory services business segment, by offering consulting services to governments outside the United States planning to create or expand electricity generation capabilities using nuclear power plants. Our fee structure for each client engagement is dependent on a number of variables, including the size of the client, the complexity, the level of the opportunity for us to improve the client’s electrical generation capabilities using nuclear power plants, and other factors. The accounting policy we use to recognize revenue depends on the terms and conditions of the specific contract. Revenues from the Executive Affairs Authority (“EAA”) of Abu Dhabi, one of the member Emirates of the UAE, and the related entities, ENEC and FANR, are billed on both on a time and expense basis and on a fixed contract basis with revenue recognized based on the acceptance of defined contract deliverables. Certain customer arrangements require evaluation of the criteria outlined in the accounting standards for reporting revenue “ Gross as a Principal Versus Net as an Agent Cost of consulting services includes labor, travel expenses, and other related consulting costs. All costs directly related to producing work under certain consulting agreements where revenue is recognized upon acceptance of certain contractual milestones by our customer, are first capitalized as deferred project costs. Deferred project costs are then recognized or amortized to an expense captioned “cost of consulting services provided” on the accompanying consolidated statement of operations, when the revenue is recognized upon the delivery and acceptance of the defined contractual milestones or deliverables. Technology Business Segment Once our nuclear fuel designs have advanced to a commercially usable stage by either a fuel fabricator or nuclear plant owner/operator, we will seek to license our technology to them or to major government contractors working for the U.S. or other governments. We expect that our revenue from these license fees will be recognized on a straight-line basis over the expected period of the related license term.
Stock-Based Compensation [Policy Text Block]	Stock-Based Compensation The stock-based compensation expense incurred by Lightbridge for employees and directors in connection with its stock option plan is based on the employee model of ASC 718, and the fair market value of the options is measured at the grant date. Under ASC 718 employee is defined as, “An individual over whom the grantor of a share-based compensation award exercises or has the right to exercise sufficient control to establish an employer-employee relationship based on common law as illustrated in case law and currently under U.S. Tax Regulations”. Our advisory board members and consultants do not meet the employer-employee relationship as defined by the IRS and therefore are accounted for under ASC 505-50. ASC 505-50-30-11 (previously EITF 96-18) further provides that an issuer shall measure the fair value of the equity instruments in these transactions using the stock price and other measurement assumptions as of the earlier of the following dates, referred to as the measurement date: i. The date at which a commitment for performance by the counterparty to earn the equity instruments is reached (a performance commitment); and ii. The date at which the counterparty’s performance is complete. We have elected to use the Black-Scholes-Merton pricing model to determine the fair value of stock options on the measurement date of the grant. Restricted stock units are measured based on the fair market values of the underlying stock on the measurement date of the grant. Shares that are issued to officers on the exercise dates of their stock options may be issued net of the statutory withholding requirements to be paid by us on behalf of our employees. As a result, the actual number of shares issued will be fewer than the actual number of shares exercised under the stock option. We recognize stock-based compensation using the straight-line method. For each of the years ended December 31, 2014 and 2013, we recognized stock-based compensation of approximately $0.3 million. Related income tax benefits were not recognized, as we incurred a tax loss for both years.
Fair Value of Financial Instruments [Policy Text Block]	Fair Value of Financial Instruments The carrying amounts of our financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities, approximate fair value because of their generally short maturities. We carry marketable securities at fair value. All marketable securities were sold in 2014.
Cash and Cash Equivalents and Restricted Cash and Marketable Securities [Policy Text Block]	Cash and Cash Equivalents, Restricted Cash and Marketable Securities We invest our excess cash in money market mutual funds, and mutual bond funds. We classify all highly liquid investments with stated maturities of three months or less from date of purchase as cash equivalents and all highly liquid investments with stated maturities of greater than three months as marketable securities. We hold cash balances in excess of the federally insured limits of $250,000 with one prominent financial institution. We deem this credit risk not to be significant as our cash is held by a major prominent financial institution. Total cash and cash equivalents held in checking accounts and a money market core cash account, as reported on the accompanying consolidated balance sheets, totaled approximately $4.2 million and $3.7 million at December 31, 2014 and 2013, respectively. Restricted cash represents cash being held by one prominent financial institution that is being used as collateral for our corporate credit cards and future letters of credit that we may issue to some of our foreign customers. The total balance of our restricted cash at December 31, 2014 and 2013 was approximately $0.3 million and $0.6 million, respectively. Currently $30,000 of the restricted cash is dedicated to our corporate credit card and daily ACH transaction limit. The balance of the restricted cash is for future letters of credit. There were no Letters of Credit outstanding at December 31, 2014 and 2013. We are free to lower the amount of cash held in the restricted account if we decide to discontinue this arrangement with our Financial Institution. All marketable securities are classified as available-for-sale securities and are reported at their fair value (level 1). A level 1 measurement under the FASB pronouncements is the first tier of a three tier hierarchy for fair value measurements used in valuation methodologies. This valuation level allows for fair value measurements where the inputs are the quoted prices for the assets in the active markets. All of our marketable securities have quoted market prices and these quoted prices are used to determine the fair value of our marketable securities. The total quoted fair value of our marketable securities at December 31, 2014 and December 31, 2013, was approximately $0 and $16,000, respectively. This amount was held in Vanguard High Yield Corp Investor Fund (Symbol -VWEHX). The cost basis of this above investment at December 31, 2013, was approximately $15,000. Investment Income (loss) is earned on marketable securities and consists of unrealized gains (losses), realized capital gains or losses, interest and dividends received, as reported to us from the financial institutions in which they were reinvested, and totaled approximately $2,000 and ($8,000) for the years ended December 31, 2014 and 2013, respectively. We elected the fair value option permitted under FASB ASC 825 to report the unrealized gains and losses from our marketable securities in our accompanying consolidated statement of operations instead of other comprehensive income and loss. Management believes the fair value option provides a better indication of the Company’s performance.
Trade Accounts Receivable [Policy Text Block]	Trade Accounts Receivable We record accounts receivable at the invoiced amount and we do not charge interest. We review the accounts receivable by amounts due from customers which are past due, to identify specific customers with known disputes or collectability issues. In determining the amount of the reserve, we make judgments about the creditworthiness of significant customers based on ongoing credit evaluations. We will also maintain a sales allowance to reserve for potential credits issued to customers. We will determine the amount of the reserve based on historical credits issued. There was no provision for doubtful accounts recorded at December 31, 2014 and 2013, as we have not experienced any significant bad debt write-offs from any of our customers. Substantially all accounts receivable at December 31, 2014 and 2013 are from the FANR and ENEC contracts (see Note 4-Accounts Receivable – Project Revenue and Reimbursable Project Costs).
Income Taxes [Policy Text Block]	Income Taxes Income taxes are accounted for under the asset and liability method in accordance with United States generally accepted accounting principles. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial carrying amounts of existing assets and liabilities and their respective tax bases as well as operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance to the extent that the recoverability of the asset is unlikely to be recognized. We did not provide any current or deferred income tax provision or benefit for any periods presented to date because we have continued to experience a net operating loss since inception and therefore provide a 100% valuation allowance against all of our deferred tax assets (see Note 8–Income Taxes).
Foreign Currency [Policy Text Block]	Foreign Currency The functional currency of our international subsidiaries and branches is the local currency. We translate the financial statements of these subsidiaries to U.S. dollars using month-end rates of exchange for assets and liabilities, and average rates of exchange for revenues, costs, and expenses. The translation gains/losses for our branch office in Russia were not significant for the years ended December 31, 2014 and 2013.
Patents and Legal Costs [Policy Text Block]	Patents and Legal Costs Patents are stated on the accompanying consolidated balance sheets at cost less accumulated amortization. The costs of the patents, once placed in service, will be amortized on a straight-line basis over their estimated useful lives or the remaining legal lives of the patents, whichever is shorter. The amortization periods for our patents can range between 17 and 20 years if placed into service at the beginning of their legal lives. Our patents have not been placed in service for the years ended December 31, 2014 and 2013. Legal costs are expensed as incurred except for legal costs to file for patent extensions and protection, which are capitalized and reported as patents on the accompanying consolidated balance sheets.
Impairment of long-lived assets [Policy Text Block]	Impairment of long-lived assets Long-lived assets of the Company are reviewed for impairment whenever events or circumstances indicate that the carrying amount of assets may not be recoverable. The Company recognizes an impairment loss when the sum of expected undiscounted future cash flows is less than the carrying amount of the asset. The amount of impairment is measured as the difference between the asset’s estimated fair value and its book value. The Company did not consider it necessary to record any impairment charges for the years ended December 31, 2014 and 2013.
Research, Development and Related Expenses [Policy Text Block]	Research, Development and Related Expenses These costs from our Technology business segment are charged to operations in the year incurred and are shown on a separate line on the accompanying Consolidated Statements of Operations. Research and development and related expenses totaled approximately $1.5 million and $2.0 million for the years ended December 31, 2014 and 2013, respectively.
Segment Reporting [Policy Text Block]	Segment Reporting We use the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by our chief decision makers for making operating decisions and assessing performance, as the source for determining our reportable segments. We have determined that we have two operating segments as defined by the FASB accounting pronouncement, “ Disclosures about Segments of an Enterprise and Related Information
Commitments and Contingencies [Policy Text Block]	Commitments and Contingencies The Company follows subtopic 450-20 of the FASB Accounting Standards Codification to report accounting for contingencies. Certain conditions may exist as of the date the consolidated financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s consolidated financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. The Company’s legal costs associated with contingent liabilities are recorded to expense as incurred.
Warrant Liability [Policy Text Block]	Warrant Liability The Company accounts for stock warrants as either equity instruments or derivative liabilities depending on the specific terms of the warrant agreement. Stock warrants are accounted for as a derivative in accordance with Accounting Standards Codification 815, Derivatives and Hedging (“ASC 815”) if the stock warrants contain terms that could potentially require “net cash settlement” and therefore, do not meet the scope exception for treatment as a derivative. Warrant instruments that could potentially require “net cash settlement” in the absence of express language precluding such settlement are initially classified as derivative liabilities at their estimated fair values, regardless of the likelihood that such instruments will ever be settled in cash. The Company will continue to classify the fair value of the warrants that contain “net cash settlement” as a liability until the warrants are exercised, expire or are amended in a way that would no longer require these warrants to be classified as a liability. For additional discussion on warrants, see Note 9.
Recent Accounting Pronouncements [Policy Text Block]	Recent Accounting Pronouncements In May 2014, the FASB issued guidance on revenue from contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. The guidance is effective for the interim and annual periods beginning on or after December 15, 2017, (early adoption is not permitted). The guidance permits the use of either a retrospective or cumulative effect transition method.

Restatement of Financial Stat22

Restatement of Financial Statements (Tables)

3 Months Ended

6 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Jun. 30, 2014

Jun. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2014

Dec. 31, 2013

Schedule of Outstanding Warrants, Restatement [Table Text Block]

December 31, 2014 2013 Issued to Investors on July 28,2010, entitling the holders to purchase 1,034,996 1,034,996 1,034,996 Issued to Investors on October 25, 2013, entitling the holders to purchase 1,250,000 1,117,178 1,250,000 Issued to Investors on November 17, 2014, entitling the holders to purchase 2,734,590 2,734,590 - Total 4,886,764 2,284,996

Schedule of Consolidated Statement of Operations, Restated [Table Text Block]

Three Months Ended September 30, 2014 As Previously Reported Adjustment As Restated Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - 857,308 $ 857,308 Income (loss) from operations before income taxes (761,312 ) 857,308 95,996 Net Income (loss) (761,312 ) 857,308 95,996 Net income (loss) per share, basic and diluted $ (0.05 ) 0.06 $ 0.01

Three Months Ended June 30, 2014 As Previously Adjustment As Restated Reported Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - (96,029 ) $ (96,029 ) Loss from operations before income taxes (1,655,108 ) (96,029 ) (1,751,137 ) Net loss (1,655,108 ) (96,029 ) (1,751,137 ) Net loss per share, basic and diluted $ (0.11 ) (0.01 ) $ (0.12 )

Three Months Ended March 31, 2014 As Previously Adjustment As Restated Reported Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - (1,974,330 ) $ (1,974,330 ) Loss from operations before income taxes (1,433,922 ) (1,974,330 ) (3,408,252 ) Net loss (1,433,922 ) (1,974,330 ) (3,408,252 ) Net loss per share, basic and diluted $ (0.10 ) (0.13 ) $ (0.23 )

Three Months Ended September 30, 2013 As Previously Reported Adjustment As Restated Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - (47,862 ) $ (47,862 ) Loss from operations before income taxes (1,319,279 ) (47,862 ) (1,367,141 ) Net loss (1,319,279 ) (47,862 ) (1,367,141 ) Net loss per share, basic and diluted $ (0.11 ) (0.00 ) $ (0.11 )

Three Months Ended June 30, 2013 As Previously Reported Adjustment As Restated Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - 75,815 $ 75,815 Loss from operations before income taxes (1,023,844 ) 75,815 (948,029 ) Net loss (1,023,844 ) 75,815 (948,029 ) Net loss per share, basic and diluted $ (0.08 ) - $ (0.08 )

Three Months Ended March 31, 2013 As Previously Adjustment As Restated Reported Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - (113,826 ) $ (113,826 ) Loss from operations before income taxes (1,278,922 ) (113,826 ) (1,392,748 ) Net loss (1,278,922 ) (113,826 ) (1,392,748 ) Net loss per share, basic and diluted $ (0.10 ) (0.01 ) $ (0.11 )

Six Months Ended June 30, 2014 As Previously Adjustment As Restated Reported Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - (2,070,359 ) $ (2,070,359 ) Loss from operations before income taxes (3,089,030 ) (2,070,359 ) (5,159,389 ) Net loss (3,089,030 ) (2,070,359 ) (5,159,389 ) Net loss per share, basic and diluted $ (0.21 ) (0.13 ) $ (0.34 )

Six Months Ended June 30, 2013 As Previously Reported Adjustment As Restated Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - (38,011 ) $ (38,011 ) Loss from operations before income taxes (2,302,766 ) (38,011 ) (2,340,777 ) Net loss (2,302,766 ) (38,011 ) (2,340,777 ) Net loss per share, basic and diluted $ (0.18 ) (0.01 ) $ (0.19 )

Nine Months Ended September 30, 2014 As Previously Adjustment As Restated Reported Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - (1,213,051 ) $ (1,213,051 ) Loss from operations before income taxes (3,850,342 ) (1,213,051 ) (5,063,393 ) Net loss (3,850,342 ) (1,213,051 ) (5,063,393 ) Net loss per share, basic and diluted $ (0.26 ) (0.08 ) $ (0.34 )

Nine Months Ended September 30, 2013 As Previously Reported Adjustment As Restated Consolidated Statement of Operations Data (unaudited): Warrant revaluation $ - (85,873 ) $ (85,873 ) Loss from operations before income taxes (3,622,046 ) (85,873 ) (3,707,919 ) Net loss (3,622,046 ) (85,873 ) (3,707,919 ) Net loss per share, basic and diluted $ (0.29 ) (0.01 ) $ (0.30 )

Year Ended December 31, 2014 As Previously Reported Adjustment As Restated Consolidated Statement of Operations Data: Warrant revaluation $ - 1,162,730 $ 1,162,730 Loss from operations before income taxes (4,817,044 ) 1,162,730 (3,654,314 ) Net loss (4,817,044 ) 1,162,730 (3,654,314 ) Net loss per share, basic and diluted $ (0.31 ) 0.07 $ (0.24 )

Year Ended December 31, 2013 As Previously Adjustment As Restated Reported Consolidated Statement of Operations Data: Warrant revaluation $ - 277,796 $ 277,796 Loss from operations before income taxes (4,864,961 ) 277,796 (4,587,165 ) Net loss (4,864,961 ) 277,796 (4,587,165 ) Net loss per share, basic and diluted $ (0.37 ) 0.02 $ (0.35 )

Schedule of Consolidated Balance Sheet, Restated [Table Text Block]

As of March 31, 2014 As Previously Adjustment As Restated Reported Consolidated Balance Sheet Data (unaudited): Warrant liability $ - 3,685,661 $ 3,685,661 Total liabilities 636,742 3,685,661 4,322,403 Additional paid-in capital 76,303,552 (6,390,164 ) 69,913,388 Accumulated deficit (72,511,732 ) 2,704,503 (69,807,229 ) Total stockholders’ equity $ 3,806,884 (3,685,661 ) $ 121,223

As of June 30, 2014 As Previously Reported Adjustment As Restated Consolidated Balance Sheet Data (unaudited): Warrant liability $ - 3,781,690 $ 3,781,690 Total liabilities 854,848 3,781,690 4,636,538 Additional paid-in capital 76,369,046 (6,390,164 ) 69,978,882 Accumulated deficit (74,166,840 ) 2,608,474 (71,558,366 ) Total stockholders’ equity (deficit) $ 2,217,278 (3,781,690 ) $ (1,564,412 )

As of September 30, 2014 As Previously Reported Adjustment As Restated Consolidated Balance Sheet Data (unaudited): Warrant liability $ - 2,593,238 $ 2,593,238 Total liabilities 389,404 2,593,238 2,982,642 Additional paid-in capital 76,776,381 (6,059,020 ) 70,717,361 Accumulated deficit (74,928,152 ) 3,465,782 (71,462,370 ) Total stockholder’s equity (deficit) $ 1,863,433 (2,593,238 ) $ (729,805 )

As of December 31, 2014 As Previously Adjustment As Restated Reported Consolidated Balance Sheet Data: Warrant liability $ - 4,633,312 $ 4,633,312 Total liabilities 653,669 4,633,312 5,286,981 Additional paid-in capital 81,276,339 (10,474,875 ) 70,801,464 Accumulated deficit (75,894,854 ) 5,841,563 (70,053,291 ) Total stockholders’ equity $ 5,399,568 (4,633,312 ) $ 766,256

As of December 31, 2013 As Previously Reported Adjustment As Restated Consolidated Balance Sheet Data: Warrant liability $ - 1,711,331 $ 1,711,331 Total liabilities 476,628 1,711,331 2,187,959 Additional paid-in capital 76,243,764 (6,390,164 ) 69,853,600 Accumulated deficit (71,077,810 ) 4,678,833 (66,398,977 ) Total stockholders’ equity $ 5,181,011 (1,711,331 ) $ 3,469,680

Schedule of Consolidated Cash Flows, Restated [Table Text Block]

Three Months Ended March 31, 2014 As Previously Reported Adjustment As Restated Consolidated Cash Flows Data (unaudited): Net loss $ (1,433,922 ) (1,974,330 ) $ (3,408,252 ) Warrant revaluation $ - 1,974,330 $ 1,974,330

Three Months Ended March 31, 2013 As Previously Reported Adjustment As Restated Consolidated Cash Flows Data (unaudited): Net loss $ (1,278,922 ) (113,826 ) $ (1,392,748 ) Warrant revaluation $ - 113,826 $ 113,826

Six Months Ended June 30, 2014 As Previously Adjustment As Restated Reported Consolidated Cash Flows Data (unaudited) Net loss $ (3,089,030 ) (2,070,359 ) $ (5,159,389 ) Warrant revaluation $ - 2,070,359 $ 2,070,359

Six Months Ended June 30, 2013 As Previously Reported Adjustment As Restated Consolidated Cash Flows Data (unaudited) (unaudited): Net loss $ (2,302,766 ) (38,011 ) $ (2,340,777 ) Warrant revaluation $ - 38,011 $ 38,011

Nine Months Ended September 30, 2014 As Previously Adjustment As Restated Reported Consolidated Cash Flows Data (unaudited): Net loss $ (3,850,342 ) (1,213,051 ) $ (5,063,393 ) Warrant revaluation $ - 1,213,051 $ 1,213,051

Nine Months Ended September 30, 2013 As Previously Adjustment As Restated Reported Consolidated Cash Flows Data (unaudited): Net loss $ (3,622,046 ) (85,873 ) $ (3,707,919 ) Warrant revaluation $ - 85,873 $ 85,873

Year Ended December 31, 2014 As Previously Adjustment As Restated Consolidated Cash Flows Data: Net loss $ (4,817,044 ) 1,162,730 $ (3,654,314 ) Warrant revaluation $ - (1,162,730 ) $ (1,162,730 )

Year Ended December 31, 2013 As Previously Reported Adjustment As Restated Consolidated Cash Flows Data: Net loss $ (4,864,961 ) 277,796 $ (4,587,165 ) Warrant revaluation $ - (277,796 ) $ (277,796 )

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2014
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	2014 2013 (Restated) (Restated) Numerator: Net loss $ (3.7 ) $ (4.6 ) Denominator: Weighted-average common shares outstanding 15,463,392 13,009,575 Basic and diluted net loss per share $ (0.24 ) $ (0.35 )

Accounts Payable and Accrued 24

Accounts Payable and Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2014
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	December 31, December 31, 2014 2013 Trade payables $ 0.3 $ 0.1 Accrued expenses and other 0.4 0.1 Accrued payroll liabilities 0.0 0.3 Total $ 0.7 $ 0.5

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2014
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Total Total Deferred Tax Asset 2014 2013 2014 2013 Capitalized start-up costs $ 4.1 $ 4.6 $ 1.5 $ 1.7 Stock-based compensation - net 16.5 16.3 6.3 6.2 Net operating loss carry-forward 45.2 40.1 17.2 15.3 Less: valuation allowance (65.8 ) (61.0 ) (25.0 ) (23.2 ) Total $ - $ - $ - $ -
Schedule of Reconcilation of Income Taxes (Benefit) [Table Text Block]	December 31, December 31, ($ in millions) 2014 2013 Tax benefit at U.S. federal statutory rate $ (1.2 ) $ (1.6 ) State income taxes/(benefit) before valuation allowance, net of federal benefit (0.1 ) (0.2 ) Warrant revaluation (income)/expense (0.4 ) (0.1 ) Capitalized start-up costs (0.2 ) (0.2 ) Stock-based compensation 0.1 (0.4 ) Increase in valuation allowance 1.8 2.5 Total provision for income tax benefit $ 0 $ 0

Warrant Liability (Tables)

Warrant Liability (Tables)	12 Months Ended
	Dec. 31, 2014
Schedule of Aggregate Fair Values, Warrants [Table Text Block]	December 31, December 31, 2014 2013 Calculated aggregate value $ 4,633,312 $ 1,711,331 Weighted average exercise price per share of warrant $ 3.72 $ 5.33 Closing price per share of common stock $ 1.55 $ 1.45 Weighted average volatility 89.80 88.94 Weighted average remaining expected life (years) 6.11 5.62 Weighted average risk-free interest rate 1.94 2.02 Dividend yield 0% 0%

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Schedule of Warrants Outstanding [Table Text Block]	December 31, 2014 2013 Issued to Investors on July 28, 2010, entitling the holders to purchase 1,034,996 1,034,996 1,034,996 Issued to Investors on October 25, 2013, entitling the holders to purchase 1,250,000 1,117,178 1,250,000 Issued to Investors on November 17, 2014, entitling the holders to purchase 2,734,590 2,734,590 - Total 4,886,764 2,284,996
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Weighted Weighted Options Average Average Grant Date Outstanding Exercise Fair Price Value Beginning of the year 1,564,257 $ 11.16 $ 10.61 Granted 579,429 2.55 1.79 Exercised - - - Forfeited (117,122 ) $ 2.55 $ 1.79 Expired - $ - $ - End of year 2,026,564 $ 9.19 $ 10.61 Options exercisable 1,564,257 $ 11.16 $ 10.61	Weighted Weighted Options Average Average Grant Date Outstanding Exercise Fair Price Value Beginning of the year 1,639,842 $ 11.46 $ 10.85 Granted - - - Exercised - - - Forfeited (7,250 ) $ 6.04 $ 5.51 Expired (68,335 ) $ 18.94 $ 16.90 End of year 1,564,257 $ 11.16 $ 10.61 Options exercisable 1,530,200 $ 11.28 $ 10.73
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	Stock Options Outstanding Stock Options Vested Weighted Weighted Average Average Remaining Weighted Remaining Weighted Contractual Number Average Contractual Number Average Life of Exercise Life of Exercise -Years Awards Price -Years Awards Price Exercise Prices $2.55 - $5.00 4.26 645,644 $ 3.10 4.06 183,337 $ 4.50 $5.01 - $12.90 4.11 782,584 $ 7.45 4.11 782,584 $ 7.45 $13.50 - 18.90 1.30 358,336 $ 14.17 1.30 358,336 $ 14.17 $19.20 - 23.85 1.12 240,000 $ 23.85 1.12 240,000 $ 23.85 Total 3.31 2,026,564 $ 9.19 3.00 1,564,257 $ 11.16	Stock Options Outstanding Stock Options Vested Weighted Weighted Average Average Remaining Weighted Remaining Weighted Contractual Number Average Contractual Number Average Life of Exercise Life of Exercise -Years Awards Price -Years Awards Price Exercise Prices $2.55 - $5.00 5.06 183,337 $ 4.50 5.06 183,337 $ 4.50 $5.01 - $12.90 5.11 782,584 $ 7.45 5.03 748,527 $ 7.53 $13.50 - 18.90 2.30 358,336 $ 14.17 2.30 358,336 $ 14.17 $19.20 - 23.85 2.12 240,000 $ 23.85 2.12 240,000 $ 23.85 Total 4.00 1,564,257 $ 11.16 3.94 1,530,200 $ 11.28
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Year ended Year ended 12/31/2014 12/31/2011 Average risk-free interest rate 1.68% 3.35% Average expected life- years 5 10 Expected volatility 90.44% 94.32% Expected dividends 0 0
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	Restricted Stock Award Activity Weighted Average Grant Number of Date Fair Units Value Total awards outstanding at December 31, 2012 43,032 $ 6.49 Units granted - $ - Units Exercised/Released (28,739 ) $ 6.99 Units Cancelled/Forfeited - $ - Total awards outstanding at December 31, 2013 14,293 $ 5.47 Units granted - $ - Units Exercised/Released (14,293 ) $ 5.47 Units Cancelled/Forfeited - $ - Total awards outstanding at December 31, 2014 - $ -

Business Segment Results (Table

Business Segment Results (Tables)	12 Months Ended
	Dec. 31, 2014
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Corporate and Consulting Technology Eliminations Total 2014 2013 2014 2013 2014 2013 2014 2013 Revenue $ 1,310,199 $ 1,901,354 $ - $ - $ - $ - $ 1,310,199 $ 1,901,354 Segment Profit - Pre Tax $ 406,078 $ 286,299 $ (1,534,605 ) $ (2,030,194 ) $ (2,525,787 ) $ (2,843,270 ) $ (3,654,314 ) $ (4,587,165 ) Total Assets $ 469,086 $ 425,916 $ 833,560 $ 699,168 $ 4,750,591 $ 4,532,555 $ 6,053,237 $ 5,657,639 Property Additions $ - $ - $ - $ - $ - $ - $ - $ - Interest Expense $ - $ - $ - $ - $ - $ - $ - $ - Deprec. Expense $ - $ - $ - $ - $ - $ 17,221 $ - $ 17,221

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Schedule of Fair Value, Financial Assets and Liabilities [Table Text Block]	Fair value measurement using Significant Significant Quoted prices in other unobservable active markets observable inputs (Level 1) inputs (Level 2) (Level 3) Total Balance at December 31, 2014 Assets: Cash and cash equivalents $ 4,220,225 $ — $ — $ 4,220,225 Liabilities: Warrant liability $ — $ — $ 4,633,312 $ 4,633,312	Fair value measurement using Significant Significant Quoted prices in other unobservable active markets observable inputs (Level 1) inputs (Level 2) (Level 3) Total Balance at December 31, 2013 Assets: Cash and cash equivalents $ 3,672,877 $ — $ — $ 3,672,877 Liabilities: Warrant liability $ — $ — $ 1,711,331 $ 1,711,331
Schedule of Reconciliation of Warrant Liability [Table Text Block]	($ rounded to nearest thousand) Warrant Liability Balance at December 31, 2012 $ 461,000 Issuance of additional warrants 1,528,000 Exercise of warrants - Change in fair value of warrant liability (278,000 ) Balance at December 31, 2013 1,711,000 Issuance of additional warrants 4,416,000 Exercise of warrants (331,000 ) Change in fair value of warrant liability (1,163,000 ) Balance at December 31, 2014 $ 4,633,000

Basis of Presentation, Summar30

Basis of Presentation, Summary of Significant Accounting Policies and Nature of Operations (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Value of nuclear science and technology center	$ 500,000,000
Extention of fuel cycle length	24 months
Operating cycle length	18 months
Maximum increase in power output	30.00%
Metallic fuel power uprate percentage	10.00%
Operating cycle length - Westinghouse-type	24 months
Stock based compensation	$ 282,276	$ 329,499
Cash and Cash Equivalents, at Carrying Value	$ 4,220,225	$ 3,672,877	$ 2,197,555
Valuation allowance	100.00%	100.00%	100.00%
Research and Development Expense	$ 1,534,605	$ 2,027,905
Corporate Credit Card and Daily ACH Transaction Limit [Member]
Restricted Cash	$ 30,000
Minimum [Member]
Power output increase based on future potential reveunes	10.00%
Amortization period for patents	17 years
Maximum [Member]
Power output increase based on future potential reveunes	17.00%
Federally insured cash limit	$ 250,000
Amortization period for patents	20 years
Approximations [Member]
Stock based compensation	$ 300,000	300,000
Cash and Cash Equivalents, at Carrying Value	4,200,000	3,700,000
Restricted Cash	300,000	600,000
Unrealized gain loss from financial institutions	2,000	8,000
Research and Development Expense	1,500,000	2,000,000
Vanguard High Yield Corp Investor Fund [Member] | Approximations [Member]
Marketable Securities	$ 0	16,000
Cost basis of investments		$ 15,000

Restatement of Financial Stat31

Restatement of Financial Statements (Narrative) (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Additional paid-in capital	$ 70,801,464	$ 69,853,600
Accumulated deficit	(70,053,291)	(66,398,977)
Stockholders' Equity	766,256	$ 3,469,680	$ 5,297,273
Approximations [Member] | Adjustments [Member]
Additional paid-in capital			4,900,000
Accumulated deficit	5,800,000		$ 4,400,000
Stockholders' Equity	$ 500,000
Cumulative effect	7.70%

Accounts Receivable -Project 32

Accounts Receivable -Project Revenue and Reimbursable Project Costs (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Lloyd Register Contract [Member]
Major customer revenue percentage	15.00%
Approximations [Member]
Unbilled receivable	$ 40,000	$ 100,000
Travel costs and reimbursable costs	100,000	100,000
Approximations [Member] | ENEC and FANR Projects [Member]
Accounts Receivable	$ 500,000	$ 400,000
Major customer revenue percentage	81.00%	95.00%
Approximations [Member] | FANR [Member]
Major customer revenue percentage	92.00%

Prepaid Expenses & Other Curr33

Prepaid Expenses & Other Current Assets (Narrative) (Details) - Approximations [Member] - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Prepaid Expense and Other Assets, Current	$ 200,000	$ 300,000
Security Deposit	$ 30,000

Patents and Other Assets (Narra

Patents and Other Assets (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Minimum [Member]
Estimated useful life of patents and other intangible assets	17 years
Maximum [Member]
Estimated useful life of patents and other intangible assets	20 years
Approximations [Member]
Capitalized costs for patents	$ 100,000	$ 100,000
Investment in patents	$ 800,000	$ 700,000

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	38.00%	38.00%
Valuation allowance	100.00%	100.00%	100.00%
Approximations [Member]
Deferred Tax Assets, Operating Loss Carryforwards	$ 45.2
Change in valuation allowance	$ 1.8	$ 1.7

Warrant Liability (Narrative) (

Warrant Liability (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Approximations [Member]
Non-cash income	$ 1.2	$ 0.3

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) - USD ($)	1 Months Ended	12 Months Ended
	Oct. 16, 2013	Dec. 31, 2014	Dec. 31, 2013
Operating lease term	1 year	38 months
Fairfax County Complaint 1 [Member]
Compensatory damages sought		$ 1,000,000
Fairfax County Complaint 2 [Member]
Compensatory damages sought		15,507
Approximations [Member]
Monthly rental fees	$ 32,000	32,000
Rent expense		500,000	$ 700,000
Approximations [Member] | Moscow Office [Member]
Monthly rental fees		$ 12,000

Research and Development Costs

Research and Development Costs (Narrative) (Details) - Approximations [Member] - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Research and development costs	$ 1,500,000	$ 2,000,000
Consulting agreement monthly payments	$ 10,000

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)	1 Months Ended		6 Months Ended		12 Months Ended
	Oct. 21, 2013	Jul. 22, 2010	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2011	Dec. 31, 2012	Jul. 17, 2006
Common Stock, Shares Authorized			500,000,000	500,000,000	500,000,000	500,000,000
Common Stock, Shares, Outstanding			18,082,874	15,057,243	18,082,874	15,057,243
Class of Warrant or Right, Outstanding			4,886,764	2,284,996	4,886,764	2,284,996
Number of options outstanding			2,026,564	1,564,257	2,026,564	1,564,257		1,639,842
Number of options vested and expected to vest outstanding			1,564,257	1,530,200	1,564,257	1,530,200
Aggregate intrinsic value			$ 0	$ 0	$ 0	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Intrinsic Value			$ 1.55	$ 1.45	$ 1.55	$ 1.45
Unrecognized compensation costs			$ 0	$ 19,000	$ 0	$ 19,000
Restricted stock grants estimated forfeiture amount			1.50%		1.50%
Share based compensation					$ 282,276	$ 329,499
Common Stock issued			18,082,874	15,057,243	18,082,874	15,057,243
Proceeds from Issuance of Common Stock					$ 4,753,326	$ 3,958,040
Amount allocated from the Offering to warrants					$ 4,416,000	$ 1,528,000
Stock options granted					579,429	0
Fair value of stock options granted				$ 10.61		$ 10.61		$ 10.85
Approximations [Member]
Stock option expense			$ 55,000	$ 37,000	$ 262,000	$ 225,000
Share based compensation					$ 300,000	$ 300,000
Chief Executive Officer [Member]
Non-qualified stock options					820,396
Issuance of 255,202 non-qualified 10 year options [Member]
Non-qualified stock options					255,202
Contractural lives					10 years
Lower Limit					$ 4.50
Upper Limit					14.40
Registered Direct Offering and Outstanding Warrants [Member]
Equity Issuance, Per Share Amount					$ 2.30
Common Stock issued			132,822		132,822
Proceeds from Issuance of Common Stock					$ 305,931
Common stock and warrants sold		$ 2,069,992			$ 2,500,000
Common stock to be purchased in the Offering		1,034,996	1,250,000		1,250,000
Exercisable term					7 years 6 months
Shares of common stock to be purchased by fixed combination		0.5	0.5		0.5
Purchase price of fixed combination		$ 6.60	$ 1.75		$ 1.75
Warrant exercise price		$ 9			$ 2.30
Registered Direct Offering and Outstanding Warrants [Member] | Approximations [Member]
Proceeds from Issuance of Common Stock		$ 13,700,000			$ 4,400,000
Net proceeds from the Offering received after payments of fees and expenses			$ 4,000,000		$ 4,000,000
May 5, 2014 Stock Options Granted [Member]
Volitility rate					90.44%
Risk-free interest rate					1.68%
Dividend yield					0.00%
Expected term					5 years
Strike Price					$ 2.55
Stock options granted					579,429
Fair value of stock options granted			$ 1.79		$ 1.79
Fair market value on measurement date			$ 0.93		$ 0.93
Pre-vesting forfeiture rate			1.50%		1.50%
Issuance of 1,579,415 non-qualified 5-10 year options [Member]
Non-qualified stock options					1,579,415
Lower Limit					$ 2.55
Upper Limit					$ 23.85
Issuance of 191,947 non-qualified 5-10 year options [Member]
Non-qualified stock options					191,947
Lower Limit					$ 2.55
Upper Limit					$ 15.30
November 12, 2014 Offering [Member]
Proceeds from Issuance of Common Stock	$ 5,000,000
Common stock and warrants sold	$ 2,878,516
Common stock to be purchased in the Offering	2,734,590
Shares of common stock to be purchased by fixed combination	0.95
Purchase price of fixed combination	$ 1.75
Warrant exercise price	$ 2.31
November 12, 2014 Offering [Member] | Approximations [Member]
Net proceeds from the Offering received after payments of fees and expenses	$ 4,500,000
Issued to Investors on July 28, 2010 [Member]
Class of Warrant or Right, Outstanding			1,034,996	1,034,996	1,034,996	1,034,996
Common stock to be purchased in the Offering			1,034,996		1,034,996
Warrant exercise price					$ 9
Issued to Investors on October 25, 2013 [Member]
Class of Warrant or Right, Outstanding			1,117,178	1,250,000	1,117,178	1,250,000
Common stock to be purchased in the Offering			1,250,000		1,250,000
Warrant exercise price					$ 2.30
Issued to Investors on November 17, 2014 [Member]
Class of Warrant or Right, Outstanding			2,734,590	0	2,734,590	0
Common stock to be purchased in the Offering			2,734,590		2,734,590
Warrant exercise price					$ 2.31
Minimum [Member] | Chief Executive Officer [Member]
Contractural lives					10 months 24 days
Minimum [Member] | Directors, Officers and Employees [Member]
Contractural lives					1 year 7 months 6 days
Minimum [Member] | Registered Direct Offering and Outstanding Warrants [Member]
Maximum common stock ownership to be eligible for exercise of warrants		4.99%	4.99%		4.99%
Minimum [Member] | Issuance of 1,579,415 non-qualified 5-10 year options [Member]
Contractural lives					5 years
Minimum [Member] | Issuance of 191,947 non-qualified 5-10 year options [Member]
Contractural lives					5 years
Minimum [Member] | November 12, 2014 Offering [Member]
Maximum common stock ownership to be eligible for exercise of warrants	4.99%
Maximum [Member] | Chief Executive Officer [Member]
Contractural lives					6 years 2 months 12 days
Maximum [Member] | Directors, Officers and Employees [Member]
Contractural lives					6 years 3 months 18 days
Maximum [Member] | Registered Direct Offering and Outstanding Warrants [Member]
Maximum common stock ownership to be eligible for exercise of warrants		9.99%	9.99%		9.99%
Maximum [Member] | Issuance of 1,579,415 non-qualified 5-10 year options [Member]
Contractural lives					10 years
Maximum [Member] | Issuance of 191,947 non-qualified 5-10 year options [Member]
Contractural lives					10 years
Maximum [Member] | November 12, 2014 Offering [Member]
Maximum common stock ownership to be eligible for exercise of warrants	19.99%
Maximum number of shares in respect to stock options [Member]
Common Stock, Capital Shares Reserved for Future Issuance									266,667
Employee Stock Option [Member]
Volitility rate					90.44%		94.32%
Risk-free interest rate					1.68%		3.35%
Dividend yield					0.00%		0.00%
Expected term					5 years		10 years
Stock and Stock Equivalents [Member]
Common Stock, Shares, Outstanding			24,996,202		24,996,202
Stock Compensation Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance									2,500,000
Maximum restricted shares granted [Member]
Common Stock, Capital Shares Reserved for Future Issuance									1,250,000
Maximum restricted shares granted to one person [Member]
Common Stock, Capital Shares Reserved for Future Issuance			166,667		166,667
Stock-based compensation [Member] | Approximations [Member]
Share based compensation					$ 300,000
Restricted Stock [Member]
Unvested Shares								43,032
Restricted stock grants estimated forfeiture amount			0.00%		0.00%

Schedule of Outstanding Warrant

Schedule of Outstanding Warrants, Restatement (Details) - $ / shares	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Warrants Outstanding	4,886,764	2,284,996
Issued to Investors on July 28, 2010 [Member]
Warrants Outstanding	1,034,996	1,034,996
Exercise price	$ 9
Common stock to be purchased in the Offering	1,034,996
Issued to Investors on October 25, 2013 [Member]
Warrants Outstanding	1,117,178	1,250,000
Exercise price	$ 2.30
Common stock to be purchased in the Offering	1,250,000
Issued to Investors on November 17, 2014 [Member]
Warrants Outstanding	2,734,590	0
Exercise price	$ 2.31
Common stock to be purchased in the Offering	2,734,590

Schedule of Consolidated Statem

Schedule of Consolidated Statement of Operations, Restated (Details) - USD ($)	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2014	Dec. 31, 2013
Warrant revaluation											$ 1,162,730	$ 277,796
Income (loss) from operations before income taxes											(3,654,314)	(4,587,165)
Net Loss											$ (3,654,314)	$ (4,587,165)
Net loss per share, basic and diluted											$ (0.24)	$ (0.35)
As Previously Reported [Member]
Warrant revaluation	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Income (loss) from operations before income taxes	(761,312)	(1,655,108)	(1,433,922)	(1,319,279)	(1,023,844)	(1,278,922)	(3,089,030)	(2,302,766)	(3,850,342)	(3,622,046)	(4,817,044)	(4,864,961)
Net Loss	$ (761,312)	$ (1,655,108)	$ (1,433,922)	$ (1,319,279)	$ (1,023,844)	$ (1,278,922)	$ (3,089,030)	$ (2,302,766)	$ (3,850,342)	$ (3,622,046)	$ (4,817,044)	$ (4,864,961)
Net loss per share, basic and diluted	$ (0.05)	$ (0.11)	$ (0.10)	$ (0.11)	$ (0.08)	$ (0.10)	$ (0.21)	$ (0.18)	$ (0.26)	$ (0.29)	$ (0.31)	$ (0.37)
Adjustment [Member]
Warrant revaluation	$ 857,308	$ (96,029)	$ (1,974,330)	$ (47,862)	$ 75,815	$ (113,826)	$ (2,070,359)	$ (38,011)	$ (1,213,051)	$ (85,873)	$ 1,162,730	$ 277,796
Income (loss) from operations before income taxes	857,308	(96,029)	(1,974,330)	(47,862)	75,815	(113,826)	(2,070,359)	(38,011)	(1,213,051)	(85,873)	1,162,730	277,796
Net Loss	$ 857,308	$ (96,029)	$ (1,974,330)	$ (47,862)	$ 75,815	$ (113,826)	$ (2,070,359)	$ (38,011)	$ (1,213,051)	$ (85,873)	$ 1,162,730	$ 277,796
Net loss per share, basic and diluted	$ 0.06	$ (0.01)	$ (0.13)	$ 0	$ 0	$ (0.01)	$ (0.13)	$ (0.01)	$ (0.08)	$ (0.01)	$ 0.07	$ 0.02
As Restated [Member]
Warrant revaluation	$ 857,308	$ (96,029)	$ (1,974,330)	$ (47,862)	$ 75,815	$ (113,826)	$ (2,070,359)	$ (38,011)	$ (1,213,051)	$ (85,873)	$ 1,162,730	$ 277,796
Income (loss) from operations before income taxes	95,996	(1,751,137)	(3,408,252)	(1,367,141)	(948,029)	(1,392,748)	(5,159,389)	(2,340,777)	(5,063,393)	(3,707,919)	(3,654,314)	(4,587,165)
Net Loss	$ 95,996	$ (1,751,137)	$ (3,408,252)	$ (1,367,141)	$ (948,029)	$ (1,392,748)	$ (5,159,389)	$ (2,340,777)	$ (5,063,393)	$ (3,707,919)	$ (3,654,314)	$ (4,587,165)
Net loss per share, basic and diluted	$ 0.01	$ (0.12)	$ (0.23)	$ (0.11)	$ (0.08)	$ (0.11)	$ (0.34)	$ (0.19)	$ (0.34)	$ (0.30)	$ (0.24)	$ (0.35)

Schedule of Consolidated Balanc

Schedule of Consolidated Balance Sheet, Restated (Details) - USD ($)	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Warrant liability	$ 4,633,312				$ 1,711,331
Total liabilities	5,286,981				2,187,959
Additional paid in capital	70,801,464				69,853,600
Accumulated deficit	(70,053,291)				(66,398,977)
Total stockholders' equity	766,256				3,469,680
As Previously Reported [Member]
Warrant liability	0	$ 0	$ 0	$ 0	0
Total liabilities	653,669	389,404	854,848	636,742	476,628
Additional paid in capital	81,276,339	76,776,381	76,369,046	76,303,552	76,243,764
Accumulated deficit	(75,894,854)	(74,928,152)	(74,166,840)	(72,511,732)	(71,077,810)
Total stockholders' equity	5,399,568	1,863,433	2,217,278	3,806,884	5,181,011
Adjustment [Member]
Warrant liability	4,633,312	2,593,238	3,781,690	3,685,661	1,711,331
Total liabilities	4,633,312	2,593,238	3,781,690	3,685,661	1,711,331
Additional paid in capital	(10,474,875)	(6,059,020)	(6,390,164)	(6,390,164)	(6,390,164)
Accumulated deficit	5,841,563	3,465,782	2,608,474	2,704,503	4,678,833
Total stockholders' equity	(4,633,312)	(2,593,238)	(3,781,690)	(3,685,661)	(1,711,331)
As Restated [Member]
Warrant liability	4,633,312	2,593,238	3,781,690	3,685,661	1,711,331
Total liabilities	5,286,981	2,982,642	4,636,538	4,322,403	2,187,959
Additional paid in capital	70,801,464	70,717,361	69,978,882	69,913,388	69,853,600
Accumulated deficit	(70,053,291)	(71,462,370)	(71,558,366)	(69,807,229)	(66,398,977)
Total stockholders' equity	$ 766,256	$ (729,805)	$ (1,564,412)	$ 121,223	$ 3,469,680

Schedule of Consolidated Cash F

Schedule of Consolidated Cash Flows, Restated (Details) - USD ($)	3 Months Ended						6 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2014	Dec. 31, 2013
Net loss											$ (3,654,314)	$ (4,587,165)
Warrant revaluation											(1,162,730)	(277,796)
As Previously Reported [Member]
Net loss	$ (761,312)	$ (1,655,108)	$ (1,433,922)	$ (1,319,279)	$ (1,023,844)	$ (1,278,922)	$ (3,089,030)	$ (2,302,766)	$ (3,850,342)	$ (3,622,046)	(4,817,044)	(4,864,961)
Warrant revaluation	0	0	0	0	0	0	0	0	0	0	0	0
Adjustment [Member]
Net loss	857,308	(96,029)	(1,974,330)	(47,862)	75,815	(113,826)	(2,070,359)	(38,011)	(1,213,051)	(85,873)	1,162,730	277,796
Warrant revaluation	(857,308)	96,029	1,974,330	47,862	(75,815)	113,826	2,070,359	38,011	1,213,051	85,873	(1,162,730)	(277,796)
As Restated [Member]
Net loss	95,996	(1,751,137)	(3,408,252)	(1,367,141)	(948,029)	(1,392,748)	(5,159,389)	(2,340,777)	(5,063,393)	(3,707,919)	(3,654,314)	(4,587,165)
Warrant revaluation	$ (857,308)	$ 96,029	$ 1,974,330	$ 47,862	$ (75,815)	$ 113,826	$ 2,070,359	$ 38,011	$ 1,213,051	$ 85,873	$ (1,162,730)	$ (277,796)

Schedule of Earnings Per Share,

Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Numerator:
Net loss	$ (3,654,314)	$ (4,587,165)
Denominator
Weighted-average common shares outstanding	15,463,392	13,009,575
Net loss per share, basic and diluted	$ (0.24)	$ (0.35)
Approximations [Member]
Numerator:
Net loss	$ (3,700,000)	$ (4,600,000)

Schedule of Accounts Payable an

Schedule of Accounts Payable and Accrued Liabilities (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Total	$ 653,669	$ 476,628
Approximations [Member]
Trade payables	300,000	100,000
Accrued expenses and other	400,000	100,000
Accrued payroll liabilities	0	300,000
Total	$ 700,000	$ 500,000

Schedule of Deferred Tax Assets

Schedule of Deferred Tax Assets and Liabilities (Details) - Approximations [Member] - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Capitalized start up costs	$ 4,100,000	$ 4,600,000
Share based compensation	16,500,000	16,300,000
Net operating loss carry-forward	45,200,000	40,100,000
Less: valuation allowance	(65,800,000)	(61,000,000)
Deferred Tax Assets, Net, Total	0	0
Deferred Tax Asset Amount [Member]
Capitalized start up costs	1,500,000	1,700,000
Share based compensation	6,300,000	6,200,000
Net operating loss carry-forward	17,200,000	15,300,000
Less: valuation allowance	(25,000,000)	(23,200,000)
Deferred Tax Assets, Net, Total	$ 0	$ 0

Schedule of Reconcilation of In

Schedule of Reconcilation of Income Taxes (Benefit) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Tax benefit at U.S. federal statutory rate	$ (1,200,000)	$ (1,600,000)
State income taxes/(benefit) before valuation allowance, net of federal benefit	(100,000)	(200,000)
Warrant revaluation (income)/expense	(400,000)	(100,000)
Capitalized start-up costs	(200,000)	(200,000)
Stock-based compensation	100,000	(400,000)
Increase in valuation allowance	1,800,000	2,500,000
Total provision for income tax benefit	$ 0	$ 0

Schedule of Aggregate Fair Valu

Schedule of Aggregate Fair Values, Warrants (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Calculated aggregate value	$ 4,633,312	$ 1,711,331
Weighted average exercise price per share of warrant	$ 3.72	$ 5.33
Closing price per share of common stock	$ 1.55	$ 1.45
Weighted average volatility	89.80%	88.94%
Weighted average remaining expected life (years)	6 years 1 month 10 days	5 years 7 months 13 days
Weighted average risk-free interest rate	1.94%	2.02%
Dividend yield	0.00%	0.00%

Schedule of Warrants Outstandin

Schedule of Warrants Outstanding (Details) - $ / shares	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Warrants Outstanding	4,886,764	2,284,996
Issued to Investors on July 28, 2010 [Member]
Warrants Outstanding	1,034,996	1,034,996
Exercise price	$ 9
Common stock to be purchased in the Offering	1,034,996
Issued to Investors on October 25, 2013 [Member]
Warrants Outstanding	1,117,178	1,250,000
Exercise price	$ 2.30
Common stock to be purchased in the Offering	1,250,000
Issued to Investors on November 17, 2014 [Member]
Warrants Outstanding	2,734,590	0
Exercise price	$ 2.31
Common stock to be purchased in the Offering	2,734,590

Schedule of Share-based Compens

Schedule of Share-based Compensation, Stock Options, Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Beginning of Period	1,564,257	1,639,842
Weighted Average Exercise Price Beginning of the Year	$ 11.16	$ 11.46
Weighted Average Fair Value Stock Options Beginning of the Year	$ 10.61	$ 10.85
Stock options granted	579,429	0
Weighted Average Exercise Price Stock Options Granted	$ 2.55	$ 0
Weighted Average Fair Value Stock Options Granted	$ 1.79	$ 0
Exercised	0	0
Weighted Average Exercise Price	$ 0	$ 0
Weighted Average Fair Value Stock Options Exercised	$ 0	$ 0
Forfeited	(117,122)	(7,250)
Weighted Average Exercise Price Stock Options Forfeited	$ 2.55	$ 6.04
Weighted Average Fair Value Stock Options Forfeited	$ 1.79	$ 5.51
Expired	0	(68,335)
Weighted Average Exercise Price Stock Options Expired	$ 0	$ 18.94
Weighted Average Fair Value Stock Options Expired	$ 0	$ 16.90
End of year	2,026,564	1,564,257
Weighted Average Exercise End of Year	$ 9.19	$ 11.16
Weighted Average Fair Value Stock Options End of Year	$ 10.61	$ 10.61
Options exercisable	1,564,257	1,530,200
Weighted Average Exercise Price Options exercisable	$ 11.16	$ 11.28
Weighted Average Fair Value Options exerciseable	$ 10.61	$ 10.73

Schedule of Disclosure of Share

Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (Details) - $ / shares	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Weighted Average Remaining Contractural Life - Years	3 years 3 months 22 days	4 years
Number of options outstanding	2,026,564	1,564,257
Weighted Average Exercise Price Stock Options Outstanding	$ 9.19	$ 11.16
Number of Awards Vested	1,564,257	1,530,200
Weighted Average Exercise Price	$ 11.16	$ 11.28
Weighted Average Remaining Contractual Life of Stock Options Vested	3 years	3 years 11 months 8 days
Range 1 [Member]
Exercise price lower range limit	$ 2.55	$ 2.55
Exercise price upper range limit	$ 5	$ 5
Weighted Average Remaining Contractural Life - Years	4 years 3 months 4 days	5 years 22 days
Number of options outstanding	645,644	183,337
Weighted Average Exercise Price Stock Options Outstanding	$ 3.10	$ 4.50
Number of Awards Vested	183,337	183,337
Weighted Average Exercise Price	$ 4.50	$ 4.50
Weighted Average Remaining Contractual Life of Stock Options Vested	4 years 22 days	5 years 22 days
Range 2 [Member]
Exercise price lower range limit	$ 5.01	$ 5.01
Exercise price upper range limit	$ 12.90	$ 12.90
Weighted Average Remaining Contractural Life - Years	4 years 1 month 10 days	5 years 1 month 10 days
Number of options outstanding	782,584	782,584
Weighted Average Exercise Price Stock Options Outstanding	$ 7.45	$ 7.45
Number of Awards Vested	782,584	748,527
Weighted Average Exercise Price	$ 7.45	$ 7.53
Weighted Average Remaining Contractual Life of Stock Options Vested	4 years 1 month 10 days	5 years 11 days
Range 3 [Member]
Exercise price lower range limit	$ 13.50	$ 13.50
Exercise price upper range limit	$ 18.90	$ 18.90
Weighted Average Remaining Contractural Life - Years	1 year 3 months 18 days	2 years 3 months 18 days
Number of options outstanding	358,336	358,336
Weighted Average Exercise Price Stock Options Outstanding	$ 14.17	$ 14.17
Number of Awards Vested	358,336	358,336
Weighted Average Exercise Price	$ 14.17	$ 14.17
Weighted Average Remaining Contractual Life of Stock Options Vested	1 year 3 months 18 days	2 years 3 months 18 days
Range 4 [Member]
Exercise price lower range limit	$ 19.20	$ 19.20
Exercise price upper range limit	$ 23.85	$ 23.85
Weighted Average Remaining Contractural Life - Years	1 year 1 month 13 days	2 years 1 month 13 days
Number of options outstanding	240,000	240,000
Weighted Average Exercise Price Stock Options Outstanding	$ 23.85	$ 23.85
Number of Awards Vested	240,000	240,000
Weighted Average Exercise Price	$ 23.85	$ 23.85
Weighted Average Remaining Contractual Life of Stock Options Vested	1 year 1 month 13 days	2 years 1 month 13 days

Schedule of Share-based Payment

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) - Employee Stock Option [Member]	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2011
Average risk-free interest rate	1.68%	3.35%
Average expected life- years	5 years	10 years
Expected volatility	90.44%	94.32%
Expected dividends	0.00%	0.00%

Schedule of Share-based Compe53

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Total awards outstanding beginning of the period		43,032
Weighted average grant date fair value total awards outstanding beginning of the period		$ 6.49
Units granted	0	0
Weighted average grant date fair value units Granted	$ 0	$ 0
Units Exercised/Released	(14,293)	(28,739)
Weighted average grant date fair value units exercised/released	$ 5.47	$ 6.99
Units Cancelled/Forfeited	0	0
Weighted average grant date fair value units Cancelled/Forfeited		$ 0
Total awards outstanding at end of period	0	14,293
Weighted Average Grant Date Fair value, Total awards outstanding at end of period	$ 0	$ 5.47

Schedule of Segment Reporting I

Schedule of Segment Reporting Information, by Segment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Revenue	$ 1,310,199	$ 1,901,354
Segment Profit - Pre Tax	(3,654,314)	(4,587,165)
Total Assets	6,053,237	5,657,639
Property Additions	0	0
Interest Expense	0	0
Depreciation	0	17,221
Consulting [Member]
Revenue	1,310,199	1,901,354
Segment Profit - Pre Tax	406,078	286,299
Total Assets	469,086	425,916
Property Additions	0	0
Interest Expense	0	0
Depreciation	0	0
Technology [Member]
Revenue	0	0
Segment Profit - Pre Tax	(1,534,605)	(2,030,194)
Total Assets	833,560	699,168
Property Additions	0	0
Interest Expense	0	0
Depreciation	0	0
Corporate and Eliminations [Member]
Revenue	0	0
Segment Profit - Pre Tax	(2,525,787)	(2,843,270)
Total Assets	4,750,591	4,532,555
Property Additions	0	0
Interest Expense	0	0
Depreciation	$ 0	$ 17,221

Schedule of Fair Value, Financi

Schedule of Fair Value, Financial Assets and Liabilities (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Assets:
Cash and cash equivalents	$ 4,220,225	$ 3,672,877
Liabilities:
Warrant liability	4,633,312	1,711,331
Quoted prices in active markets - Level 1 [Member]
Assets:
Cash and cash equivalents	4,220,225	3,672,877
Liabilities:
Warrant liability	0	0
Significant other observable inputs - Level 2 [Member]
Assets:
Cash and cash equivalents	0	0
Liabilities:
Warrant liability	0	0
Significant unobservable inputs - Level 3 [Member]
Assets:
Cash and cash equivalents	0	0
Liabilities:
Warrant liability	$ 4,633,312	$ 1,711,331

Schedule of Reconciliation of W

Schedule of Reconciliation of Warrant Liability (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Balance, beginning of period	$ 1,711,000	$ 461,000
Issuance of additional warrants	4,416,000	1,528,000
Exercise of warrants	(331,000)	0
Change in fair value of warrant liability	(1,163,000)	(278,000)
Balance, end of period	$ 4,633,000	$ 1,711,000