FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * Banks Roy   2. Issuer Name and Ticker or Trading Symbol LIGHTBRIDGE INC [LTBG] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) President, Authorize.Net (Last) (First) (Middle) 6129 WEST 9600 NORTH 3. Date of Earliest Transaction (Month/Day/Year) 02/28/2007 (Street) HIGHLAND, UT 84003 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 02/28/2007   M   41,250 A $ 9.36 41,250 D   Common Stock 02/28/2007   M   8,437 A $ 4.67 49,687 D   Common Stock 02/28/2007   M   49,251 A $ 6.16 98,938 D   Common Stock 02/28/2007   M   14,062 A $ 4.9 113,000 D   Common Stock 02/28/2007   S   13,500 D $ 15.94 99,500 D   Common Stock 02/28/2007   S   16,000 D $ 15.91 83,500 D   Common Stock 02/28/2007   S   9,500 D $ 15.8 74,000 D   Common Stock 02/28/2007   S   28,800 D $ 15.79 45,200 D   Common Stock 02/28/2007   S   45,200 D $ 15.76 0 D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (right to buy) (1)

$ 6.36

02/28/2007

M

41,250

04/01/2004

04/01/2014

Common Stock

60,000

$ 0

18,750

D

Stock Option (right to buy) (2)

$ 6.16

02/28/2007

M

49,251

01/13/2005

01/13/2015

Common Stock

100,000

$ 0

50,749

D

Stock Option (right to buy) (2)

$ 4.67

02/28/2007

M

8,437

09/15/2004

09/15/2014

Common Stock

15,000

$ 0

6,563

D

Stock Option (right to buy) (2)

$ 4.9

02/28/2007

M

14,062

10/01/2004

10/01/2014

Common Stock

25,000

$ 0

10,938

D

Stock Option (right to buy)

$ 16.1

02/27/2007(3)

A

45,000

02/27/2007

02/27/2017

Common Stock

45,000

$ 0

45,000

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Banks Roy 6129 WEST 9600 NORTH HIGHLAND, UT 84003			President, Authorize.Net

Signatures

/s/ Roy Banks		03/01/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Option vests as follows: 10% on the date of grant; an additional 15% on the first anniversary of the date of grant, and the remaining 75% at a rate of 6.25% at the end of every three-month period thereafter.
(2)	Option vests as follows: 10% on the date of grant; an additional 15% during the first one-year period immediately following the date of grant, at a rate of 3.75% at the end of every three months during such year, and the remaining 75% at a rate of 6.25% at the end of every three months thereafter.
(3)	Date indicated is date of grant. Option shall vest at a rate of 6.25% at the end of every three-month period after the date of grant.

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