Financials

v3.21.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current Assets    
Cash and cash equivalents $ 19,444,737 $ 16,966,168
Accounts Receivable 7,118 0
Prepaid expenses 303,178 267,518
Other current assets 576,660 322,593
Total Current Assets 20,331,693 17,556,279
Property and equipment, net 5,171,134 2,981,225
Operating lease right-of-use assets 326,085 381,483
Intangible assets, net 321,641 372,305
Total Assets 26,150,553 21,291,292
Current Liabilities    
Accounts payable 1,539,547 627,253
Accrued liabilities 3,491,740 2,168,588
Management and directors' fees payable 55,174 21,979
Current portion of long-term debt 841,319 647,569
Current portion of financing lease liabilities 59,930 97,946
Current portion of operating lease liabilities 179,624 257,244
Current portion of grant repayable 69,218 39,295
Total Current Liabilities 6,236,552 3,859,874
Long-term debt, net of current portion 2,606,885 2,195,278
Finance lease liabilities, net of current portion 601,967 607,708
Operating lease liabilities, net of current portion 151,828 131,875
Grant repayable, net of current portion 259,603 297,991
Total Liabilities 9,856,835 7,092,726
STOCKHOLDERS' EQUITY    
Authorized: 100,000,000 shares of common stock, at $0.001 par value, Issued and outstanding: 48,607,017 shares and 41,125,303 shares, respectively 48,607 41,125
Additional paid-in capital 126,526,239 103,853,627
Accumulated other comprehensive income (loss) (59,978) 125,670
Accumulated deficit (110,173,971) (89,821,856)
Total VolitionRx Limited Stockholders' Equity 16,340,897 14,198,566
Non-controlling interest (47,179) 0
Total Stockholders' Equity 16,293,718 14,198,566
Total Liabilities and Stockholders' Equity $ 26,150,553 $ 21,291,292
v3.21.1
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Revenues    
Service $ 0 $ 16,204
Royalty 2,112 892
Product 11,321 0
Total Revenues 13,433 17,096
Operating Expenses    
Research and development 14,533,862 10,363,253
General and administrative 5,654,018 4,731,054
Sales and marketing 1,073,368 965,713
Total Operating Expenses 21,261,248 16,060,020
Operating Loss (21,247,815) (16,042,924)
Other Income (Expenses)    
Grant income 635,513 155,031
Gain on disposal of fixed assets 293,312 0
Interest income 49,495 112,367
Interest expense (129,799) (126,572)
Other expenses 0 (196,957)
Total Other Income (Expenses) 848,521 (56,131)
Net Loss (20,399,294) (16,099,055)
Net Loss attributable to Non-Controlling Interest 47,179 0
Net Loss attributable to VolitionRx Limited Stockholders (20,352,115) (16,099,055)
Other Comprehensive Income (Loss)    
Foreign currency translation adjustments (185,648) (97,981)
Net Comprehensive Loss $ (20,584,942) $ (16,197,036)
Net Loss Per Share - Basic and Diluted $ (0.45) $ (0.41)
Weighted Average Shares Outstanding    
- Basic and Diluted 45,278,847 39,180,369
v3.21.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating Activities:    
Net loss $ (20,399,294) $ (16,099,055)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 716,181 676,815
Amortization of operating lease right-of-use assets 325,192 225,597
Gain on disposal of fixed assets (293,312) 0
Stock based compensation 1,391,492 1,467,113
Common stock issued for Director compensation in Volition Germany 333,969 0
Financing costs for warrants modified 0 196,957
Changes in operating assets and liabilities:    
Prepaid expenses (35,660) (22,080)
Accounts receivable (7,118) 0
Other current assets (254,062) (92,838)
Accounts payable and accrued liabilities 2,052,753 1,105,211
Management and directors' fees payable 33,195 20,779
Right-of-use assets operating leases liabilities (327,580) (217,954)
Net Cash Used In Operating Activities (16,464,244) (12,739,455)
Investing Activities:    
Purchases of property and equipment (1,941,060) (511,266)
Proceeds from sales of property and equipment 293,312 0
Net Cash Used In Investing Activities (1,647,748) (511,266)
Financing Activities:    
Net proceeds from issuance of common shares 21,196,532 16,591,076
Tax withholdings paid related to stock-based compensation (187,465) 0
Common stock repurchased (54,434) 0
Proceeds from grants repayable 3,802 32,795
Proceeds from long-term debt 346,465 838,039
Payments on long-term debt (545,389) (351,009)
Payments on grants repayable (41,257) (39,335)
Payments on financing leases (97,417) (142,039)
Net Cash Provided By Financing Activities 20,620,837 16,929,527
Effect of foreign exchange on cash and cash equivalents (30,276) (139,860)
Net Change in Cash and Cash Equivalents 2,478,569 3,538,946
Cash and Cash Equivalents - Beginning of Year 16,966,168 13,427,222
Cash and Cash Equivalents - End of Year 19,444,737 16,966,168
Supplemental Disclosures of Cash Flow Information:    
Interest paid 129,799 126,847
Income tax paid 0 0
Non - Cash Financing Activities:    
Common Stock issued on cashless exercises of stock options and warrants 118 3
Loan payable for purchase of manufacturing building 584,449 0
Offering costs from issuance of common stock $ 1,250,848 $ 0
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