8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): September 7, 2005

Lightbridge, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

Delaware	000-21319	04-3065140
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
30 Corporate Drive, Burlington, Massachusetts		01803
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: 781-359-4000

Not Applicable
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01 Entry into a Material Definitive Agreement.

On September 7, 2005, we entered into a Second Amendment of Lease with Arthur Pappathanasi, Trustee of 330 Scangas Nominee Trust, for property located at 330 Lynnway, Lynn, Massachusetts to extend the term of our Lease for up to an additional two years subject to Landlord’s right to terminate the Lease on or after February 1, 2007 upon twelve (12) months’ notice. The current term under the Lease will expire on December 31, 2007 unless earlier terminated as provided under the Lease. Base rent for the period from August 1, 2005 through December 31, 2007 is $29,874 per month.

Item 9.01 Financial Statements and Exhibits.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Lightbridge, Inc.
September 12, 2005	By:	Eugene J. DiDonato
		Name: Eugene J. DiDonato
		Title: Vice President and General Counsel

Exhibit Index

Exhibit No.	Description
10.1	Second Amendment of Lease dated September 7, 2005 by and between the Company and Arthur Pappathanasi, Trustee of 330 Scangas Nominee Trust

EX-10.1

SECOND AMENDMENT OF LEASE

This Amendment of Lease dated as of the 7^th day of September 2005, by and between Arthur Pappathanasi, Trustee of 330 Scangas Nominee Trust, as Landlord (the “Landlord”), and Lightbridge, Inc., a Delaware Corporation, as Tenant (the “Tenant”).

BACKGROUND

Landlord and Tenant are Landlord and Tenant, respectively, under a Lease dated August 15, 2000, for a portion of the second floor of the building located at 330 Lynnway, Lynn, Massachusetts 01901. The lease was amended by an Amendment of Lease dated October 16, 2000. The lease and Amendment of Lease are hereinafter sometimes collectively referred to as the “Lease”. The parties desire to further amend the Lease to, among other things, change the initial term of the Lease and the rent due thereunder. Capitalized terms not defined herein shall have the same meaning ascribed to them in the Lease.

WITNESSETH:

Now, therefore, for valuable consideration paid, the receipt and sufficiency of which is hereby acknowledged, the parties agree as

follows:

1. The initial term set forth in Section 1.1 of the Lease as amended by the Amendment of Lease, is hereby changed from 64 months and 16 days to 88 months and 16 days, expiring on December 31, 2007.

2. The Base Rent set forth in Section 1.1 of the Lease is hereby amended to be $29,874.00 commencing August 1, 2005 through December 31, 2007.

3. A new Section 2.5 is hereby added to the Lease as follows:

“2.5 Early Termination. Landlord may terminate the Lease and compel the Tenant to vacate the premises effective any date on or after February 1, 2007 (the “Early Termination Date”). In order to exercise this right to early termination, Landlord shall give written notice to Tenant at least twelve (12) months prior to the Early Termination Date.”

4. Except as expressly hereby amended the Lease is and shall remain in full force and effect.

WITNESS the execution hereof as an instrument under seal as of the date first above written.

LANDLORD

330 SCANGAS NOMINEE TRUST

By: /s/ Arthur J. Pappathanasi, Trustee

TENANT

LIGHTBRIDGE, INC.

By: Timothy C. O’Brien, Chief Financial Officer