Financials

v3.21.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Current Assets    
Cash and cash equivalents $ 33,061,711 $ 19,444,737
Accounts receivable 14,238 7,118
Prepaid expenses 1,095,971 303,178
Other current assets 496,902 576,660
Total Current Assets 34,668,822 20,331,693
Property and equipment, net 5,249,398 5,171,134
Operating lease right-of-use assets 303,548 326,085
Intangible assets, net 288,003 321,641
Total Assets 40,509,771 26,150,553
Current Liabilities    
Accounts payable 1,463,963 1,539,547
Accrued liabilities 3,365,696 3,491,740
Management and directors' fees payable 39,484 55,174
Current portion of long-term debt 840,556 841,319
Current portion of finance lease liabilities 56,941 59,930
Current portion of operating lease liabilities 167,364 179,624
Current portion of grant repayable 66,475 69,218
Total Current Liabilities 6,000,479 6,236,552
Long-term debt, net of current portion 2,390,687 2,606,885
Finance lease liabilities, net of current portion 564,484 601,967
Operating lease liabilities, net of current portion 142,015 151,828
Grant repayable, net of current portion 249,313 259,603
Total Liabilities 9,346,978 9,856,835
STOCKHOLDERS' EQUITY    
Common Stock Authorized: 100,000,000 shares of common stock, at $0.001 par value Issued and outstanding: 52,871,001 shares and 48,607,017 shares, respectively 52,871 48,607
Additional paid-in capital 147,382,487 126,526,239
Accumulated other comprehensive income 74,155 (59,978)
Accumulated deficit (116,290,117) (110,173,971)
Total VolitionRx Limited Stockholders' Equity 31,219,396 16,340,897
Non-controlling interest (56,603) (47,179)
Total Stockholders' Equity 31,162,793 16,293,718
Total Liabilities and Stockholders' Equity $ 40,509,771 $ 26,150,553
v3.21.1
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues    
Royalty $ 0 $ 240
Product 25,530 304
Total Revenues 25,530 544
Operating Expenses    
Research and development 3,873,079 3,894,966
General and administrative 1,810,160 1,703,522
Sales and marketing 427,401 273,954
Total Operating Expenses 6,110,640 5,872,442
Operating Loss (6,085,110) (5,871,898)
Other Income (Expenses)    
Grant income 0 7,924
Interest income 1,721 38,414
Interest expense (42,181) (33,779)
Total Other Income (Expenses) (40,460) 12,559
Net Loss (6,125,570) (5,859,339)
Net Loss attributable to Non-Controlling Interest 9,424 9,567
Net Loss attributable to VolitionRx Limited Stockholders (6,116,146) (5,849,772)
Other Comprehensive Income (Loss)    
Foreign currency translation adjustments 134,133 373,926
Net Comprehensive Loss $ (5,991,437) $ (5,485,413)
Net Loss Per Share - Basic and Diluted $ (0.12) $ (0.14)
Weighted Average Shares Outstanding    
- Basic and Diluted 50,928,742 41,197,125
v3.21.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities    
Net loss $ (6,125,570) $ (5,859,339)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 227,342 180,188
Amortization of operating lease right-of-use assets 50,046 63,025
Stock-based compensation 555,342 192,669
Common stock issued for Director compensation in Volition Germany 0 333,969
Changes in operating assets and liabilities:    
Prepaid expenses (792,793) (485,529)
Accounts receivable (14,238) (242)
Other current assets 86,907 (55,182)
Accounts payable and accrued liabilities (87,002) 859,478
Management and directors' fees payable (15,690) 33,681
Right-of-use assets operating leases liabilities (49,485) (61,614)
Net Cash Used In Operating Activities (6,165,141) (4,798,896)
Investing Activities:    
Purchases of property and equipment (483,940) (330,691)
Net Cash Used In Investing Activities (483,940) (330,691)
Financing Activities:    
Net proceeds from issuances of common shares 20,328,928 0
Tax withholdings paid related to stock-based compensation (23,758) 0
Common stock repurchased 0 (54,434)
Proceeds from grants repayable 0 3,802
Proceeds from long-term debt 79,590 0
Payments on long-term debt (161,727) (115,884)
Payments on finance lease obligations (14,722) (35,575)
Net Cash Provided By (Used In) Financing Activities 20,208,311 (202,091)
Effect of foreign exchange on cash 57,744 335,727
Net Change in Cash 13,616,974 (4,995,951)
Cash and cash equivalents - Beginning of Period 19,444,737 16,966,168
Cash and cash equivalents - End of Period 33,061,711 11,970,217
Supplemental Disclosures of Cash Flow Information:    
Interest paid 42,181 33,779
Non-Cash Financing Activities:    
Common stock issued on cashless exercises of stock options 80 20
Offering costs from issuance of common stock $ 119,029 $ 0
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