Financials

v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current Assets    
Cash and cash equivalents $ 21,305,266 $ 16,966,168
Accounts receivable 3,223 0
Prepaid expenses 585,313 267,518
Other current assets 525,013 322,593
Total Current Assets 22,418,815 17,556,279
Property and equipment, net 3,265,025 2,981,225
Operating lease right-of-use assets 234,095 381,483
Intangible assets, net 328,703 372,305
Total Assets 26,246,638 21,291,292
Current Liabilities    
Accounts payable 1,414,266 627,253
Accrued liabilities 2,333,253 2,168,588
Management and directors' fees payable 10,499 21,979
Current portion of long-term debt 692,715 647,569
Current portion of finance lease liabilities 54,276 97,946
Current portion of operating lease liabilities 163,516 257,244
Current portion of grant repayable 39,321 39,295
Total Current Liabilities 4,707,846 3,859,874
Long-term debt, net of current portion 1,914,207 2,195,278
Finance lease liabilities, net of current portion 580,787 607,708
Operating lease liabilities, net of current portion 78,495 131,875
Grant repayable, net of current portion 302,106 297,991
Total Liabilities 7,583,441 7,092,726
STOCKHOLDERS' EQUITY    
Common Stock, Authorized: 100,000,000 shares of common stock, at $0.001 par value Issued and outstanding: 46,659,554 shares and 41,125,303 shares, respectively 46,660 41,125
Additional paid-in capital 118,915,549 103,853,627
Accumulated other comprehensive income 425,276 125,670
Accumulated deficit (100,708,942) (89,821,856)
Total VolitionRx Limited Stockholders' Equity 18,678,543 14,198,566
Non-controlling interest (15,346) 0
Total Stockholders' Equity 18,663,197 14,198,566
Total Liabilities and Stockholders' Equity $ 26,246,638 $ 21,291,292
v3.20.2
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Royalty $ 1,872 $ 0 $ 2,112 $ 0
Product 3,322 0 3,626 0
Total Revenues 5,194 0 5,738 0
Operating Expenses        
Research and development 3,492,845 2,478,930 7,387,811 4,953,489
General and administrative 1,508,836 1,436,461 3,212,358 2,665,901
Sales and marketing 215,891 238,124 489,845 522,404
Total Operating Expenses 5,217,572 4,153,515 11,090,014 8,141,794
Operating Loss (5,212,378) (4,153,515) (11,084,276) (8,141,794)
Other Income (Expenses)        
Grant income 90,946 0 98,870 0
Gain on disposal of fixed assets 93,202 0 93,202 0
Interest income 7,741 29,459 46,155 41,023
Interest expense (22,604) (33,115) (56,383) (63,216)
Other expenses 0 0 0 (196,957)
Total Other Income (Expenses) 169,285 (3,656) 181,844 (219,150)
Provision for Income Taxes 0 0 0 0
Net Loss (5,043,093) (4,157,171) (10,902,432) (8,360,944)
Net Loss attributable to Non-Controlling Interest 5,779 0 15,346 0
Net Loss attributable to VolitionRx Limited Stockholders (5,037,314) (4,157,171) (10,887,086) (8,360,944)
Other Comprehensive Income (Loss)        
Foreign currency translation adjustments (74,320) 49,913 299,606 25,859
Net Comprehensive Loss $ (5,117,413) $ (4,107,258) $ (10,602,826) $ (8,335,085)
Net Loss Per Share - Basic and Diluted attributable to VolitionRx Limited $ (0.12) $ (0.11) $ (0.26) $ (0.22)
Weighted Average Shares Outstanding        
Basic and Diluted 43,414,318 38,876,262 42,312,172 37,266,356
v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating Activities    
Net loss $ (10,902,432) $ (8,360,944)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 359,233 339,277
Amortization of operating lease right-of-use assets 125,871 26,632
Gain on disposal of fixed assets (93,202) 0
Stock-based compensation 553,309 719,965
Shares 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 (317,795) (294,833)
Accounts receivable (3,223) 0
Other current assets (109,213) 36,636
Accounts payable and accrued liabilities 959,425 894,097
Management and directors' fees payable (10,497) 44,336
Right-of-use assets operating leases liabilities (125,331) (25,598)
Net Cash Used In Operating Activities (9,229,886) (6,423,475)
Investing Activities:    
Purchases of property and equipment (597,366) (236,831)
Net Cash Used In Investing Activities (597,366) (236,831)
Financing Activities:    
Net proceeds from issuances of common shares 14,234,613 11,660,672
Common stock repurchased (54,434) 0
Proceeds from grants repayable 3,802 32,652
Proceeds from long-term debt 0 282,513
Payments on long-term debt (234,172) (147,421)
Payments on finance lease obligations (69,483) (71,165)
Net Cash Provided By Financing Activities 13,880,326 11,757,251
Effect of foreign exchange on cash 286,024 (13,440)
Net Change in Cash 4,339,098 5,083,505
Cash and cash equivalents - Beginning of Period 16,966,168 13,427,222
Cash and cash equivalents - End of Period 21,305,266 18,510,727
Supplemental Disclosures of Cash Flow Information:    
Interest paid 56,383 63,216
Non-Cash Financing Activities:    
Common Stock issued on cashless exercises of stock options 20 0
Offering costs from issuance of common stock $ 1,229,169 $ 0
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