Financials

v3.20.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current Assets    
Cash and cash equivalents $ 11,970,217 $ 16,966,168
Accounts receivable 242
Prepaid expenses 753,047 267,518
Other current assets 377,780 322,593
Total Current Assets 13,101,286 17,556,279
Property and equipment, net 3,097,465 2,981,225
Operating lease right-of-use assets 330,131 381,483
Intangible assets, net 346,030 372,305
Total Assets 16,874,912 21,291,292
Current Liabilities    
Accounts payable 1,487,769 627,253
Accrued liabilities 2,139,085 2,168,588
Management and directors' fees payable 55,660 21,979
Current portion of long-term debt 612,655 647,569
Current portion of finance lease liabilities 74,033 97,946
Current portion of operating lease liabilities 226,697 257,244
Current portion of grant repayable 38,583 39,295
Total Current Liabilities 4,634,482 3,859,874
Long-term debt, net of current portion 2,063,100 2,195,278
Finance lease liabilities, net of current portion 583,333 607,708
Operating lease liabilities, net of current portion 112,209 131,875
Grant repayable, net of current portion 296,431 297,991
Total Liabilities 7,689,555 7,092,726
STOCKHOLDERS' EQUITY    
Common Stock Authorized: 100,000,000 shares of common stock, at $0.001 par value Issued and outstanding: 41,206,632 shares and 41,125,303 shares, respectively 41,207 41,125
Additional paid-in capital 104,325,749 103,853,627
Accumulated other comprehensive income 499,596 125,670
Accumulated deficit (95,681,195) (89,821,856)
Total VolitionRx Limited Stockholders' Equity 9,194,924 14,198,566
Non-controlling interest (9,567)
Total Stockholders' Equity 9,185,357 14,198,566
Total Liabilities and Stockholders' Equity $ 16,874,912 $ 21,291,292
v3.20.1
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues    
Royalty $ 240
Product sales 304
Total Revenues 544
Operating Expenses    
Research and development 3,894,966 2,474,559
General and administrative 1,703,522 1,229,440
Sales and marketing 273,954 284,280
Total Operating Expenses 5,872,442 3,988,279
Operating Loss (5,871,898) (3,988,279)
Other Income (Expenses)    
Grant income 7,924
Interest income 38,414 11,564
Interest expense (33,779) (30,101)
Other expenses (196,957)
Total Other Income (Expenses) 12,559 (215,494)
Provision for Income Taxes
Net Loss (5,859,339) (4,203,773)
Net Loss attributable to Non-Controlling Interest 9,567
Net Loss attributable to VolitionRx Limited Stockholders (5,849,772) (4,203,773)
Other Comprehensive Income (Loss)    
Foreign currency translation adjustments 373,926 (24,055)
Net Comprehensive Loss $ (5,485,413) $ (4,227,828)
Net Loss Per Share - Basic and Diluted attributable to VolitionRx Limited $ (0.14) $ (0.12)
Weighted Average Shares Outstanding    
Basic and Diluted 41,197,125 36,212,897
v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net loss $ (5,859,339) $ (4,203,773)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 180,188 167,786
Amortization of operating lease right-of-use assets 63,025 12,062
Stock based compensation 165,464 338,331
Warrants issued for services 27,205 2,127
Shares issued for Director compensation in Volition Germany 333,969
Financing costs for warrants modified 196,957
Changes in operating assets and liabilities:    
Prepaid expenses (485,529) (412,643)
Accounts receivable (242)
Other current assets (55,182) (17,745)
Accounts payable and accrued liabilities 859,478 273,365
Management and directors' fees payable 33,681 4,076
Right-of-use assets operating leases liabilities (61,614) (11,440)
Net Cash Used In Operating Activities (4,798,896) (3,650,897)
Investing Activities:    
Purchases of property and equipment (330,691) (112,102)
Net Cash Used In Investing Activities (330,691) (112,102)
Financing Activities:    
Net proceeds from issuances of common shares 6,660,671
Common stock repurchased (54,434)
Proceeds from grants repayable 3,802 32,652
Payments on long-term debt (115,884) (87,577)
Payments on finance lease obligations (35,575) (35,678)
Net Cash (Used In) Provided By Financing Activities (202,091) 6,570,068
Effect of foreign exchange on cash 335,727 (68,019)
Net Change in Cash (4,995,951) 2,739,050
Cash and cash equivalents - Beginning of Period 16,966,168 13,427,222
Cash and cash equivalents - End of Period 11,970,217 16,166,272
Supplemental Disclosures of Cash Flow Information:    
Interest paid 33,779 30,101
Non-Cash Financing Activities:    
Common Stock issued on cashless exercises of stock options $ 20
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