COMMON STOCK	9 Months Ended
Sep. 30, 2014
COMMON STOCK.
COMMON STOCK	8. COMMON STOCK Common stock issued, net of issuance costs Registered Direct Offering On February 12, 2014, the Company completed a registered direct offering with the issuance of 3,960,000 shares of common stock at a price of $2.60 per share for net proceeds of $9,307,245. At-the-market Sales On October 31, 2011, the Company entered into an At-The-Market Sales Agreement with BTIG LLC (the “ATM Sales Agreement”), a major global securities trading firm that acts as our sales agent. Under the ATM Sales Agreement, the Company may from time to time sell shares of its common stock having an aggregate offering price up to $15.0 million in “at-the-market” offerings, which shares are registered under the Company’s currently effective registration statement on Form S-3. The Company filed a prospectus supplement dated July 2, 2014 with the Securities and Exchange Commission in connection with the offering, relating to shares of its common stock having an aggregate offering price of up to $4.1 million. The Company pays BTIG a commission equal to 3.0% of the gross proceeds from the sale of any shares pursuant to the ATM Sales Agreement. During the nine months ended September 30, 2014 the Company sold 788,186 shares of common stock for net proceeds of $2,586,358 under the ATM Sales Agreement, of which $358,988 of the proceeds were included in accounts receivable as of September 30, 2014. The Company subsequently received this amount on October 1, 2014. As of November 5, 2014, approximately $6.3 million of the aggregate $15.0 million remained available for future sales under the ATM Sales Agreement. Common stock issued for loan interest and fees As discussed in Note 3 above, unless RCF elects to receive cash, RCF receives common shares of the Company for the payment of interest owing on the Loan Agreement. For the nine months ended September 30, 2014, the Company issued 253,376 common shares for the payment of $676,409 in interest and fees. Common stock issued for settlement of litigation On April 15, 2014, the Company and a former executive of the Company, entered into a Settlement Agreement and General Release, under the terms of which it was agreed by the Company’s former executive to dismiss with prejudice claims he brought in a lawsuit against the Company. As a result of this Settlement Agreement, the Company issued common shares to the Company’s former executive with a grant date fair value of $333,847. The issuance of 119,231 shares of common stock was based upon a common share price of $2.80. Common stock issued for settlement of land obligations On August 8, 2014, the Company issued 127,359 shares of common stock with a grant date fair value of $342,595 to the Juan Tafoya Land Corporation in satisfaction of $337,500 of base rental payments due under the Uranium Mining Lease and Agreement, dated October 12, 2006, by and between Neutron Energy, Inc., a wholly owned subsidiary of the Company, and the Juan Tafoya Land Corporation, as amended by the First Amendment thereto, dated August 8, 2014, by and among the Company, Neutron Energy, Inc. and the Juan Tafoya Land Corporation. On October 3, 2014, the Company entered into a Second Amendment to the Uranium Mining Lease and Agreement whereby, on October 6, 2014, the Company repurchased 91,631 shares of common stock from the Juan Tafoya Land Corporation for an aggregate purchase price of $248,383.

COMMON STOCK

9 Months Ended

Sep. 30, 2014

8. COMMON STOCK

Common stock issued, net of issuance costs

Registered Direct Offering

On February 12, 2014, the Company completed a registered direct offering with the issuance of 3,960,000 shares of common stock at a price of $2.60 per share for net proceeds of $9,307,245.

At-the-market Sales

On October 31, 2011, the Company entered into an At-The-Market Sales Agreement with BTIG LLC (the “ATM Sales Agreement”), a major global securities trading firm that acts as our sales agent. Under the ATM Sales Agreement, the Company may from time to time sell shares of its common stock having an aggregate offering price up to $15.0 million in “at-the-market” offerings, which shares are registered under the Company’s currently effective registration statement on Form S-3. The Company filed a prospectus supplement dated July 2, 2014 with the Securities and Exchange Commission in connection with the offering, relating to shares of its common stock having an aggregate offering price of up to $4.1 million. The Company pays BTIG a commission equal to 3.0% of the gross proceeds from the sale of any shares pursuant to the ATM Sales Agreement.

During the nine months ended September 30, 2014 the Company sold 788,186 shares of common stock for net proceeds of $2,586,358 under the ATM Sales Agreement, of which $358,988 of the proceeds were included in accounts receivable as of September 30, 2014. The Company subsequently received this amount on October 1, 2014. As of November 5, 2014, approximately $6.3 million of the aggregate $15.0 million remained available for future sales under the ATM Sales Agreement.

Common stock issued for loan interest and fees

As discussed in Note 3 above, unless RCF elects to receive cash, RCF receives common shares of the Company for the payment of interest owing on the Loan Agreement. For the nine months ended September 30, 2014, the Company issued 253,376 common shares for the payment of $676,409 in interest and fees.

Common stock issued for settlement of litigation

On April 15, 2014, the Company and a former executive of the Company, entered into a Settlement Agreement and General Release, under the terms of which it was agreed by the Company’s former executive to dismiss with prejudice claims he brought in a lawsuit against the Company. As a result of this Settlement Agreement, the Company issued common shares to the Company’s former executive with a grant date fair value of $333,847. The issuance of 119,231 shares of common stock was based upon a common share price of $2.80.

Common stock issued for settlement of land obligations

On August 8, 2014, the Company issued 127,359 shares of common stock with a grant date fair value of $342,595 to the Juan Tafoya Land Corporation in satisfaction of $337,500 of base rental payments due under the Uranium Mining Lease and Agreement, dated October 12, 2006, by and between Neutron Energy, Inc., a wholly owned subsidiary of the Company, and the Juan Tafoya Land Corporation, as amended by the First Amendment thereto, dated August 8, 2014, by and among the Company, Neutron Energy, Inc. and the Juan Tafoya Land Corporation.

On October 3, 2014, the Company entered into a Second Amendment to the Uranium Mining Lease and Agreement whereby, on October 6, 2014, the Company repurchased 91,631 shares of common stock from the Juan Tafoya Land Corporation for an aggregate purchase price of $248,383.