Ownership Submission
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
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
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  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

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.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.