Financials

v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Current Assets    
Cash and cash equivalents $ 20,927,729 $ 16,966,168
Accounts receivable 573 0
Prepaid expenses 444,872 267,518
Other current assets 791,349 322,593
Total Current Assets 22,164,523 17,556,279
Property and equipment, net 3,343,297 2,981,225
Operating lease right-of-use assets 257,903 381,483
Intangible assets, net 321,848 372,305
Total Assets 26,087,571 21,291,292
Current Liabilities    
Accounts payable 849,146 627,253
Accrued liabilities 2,403,102 2,168,588
Management and directors' fees payable 47,675 21,979
Current portion of long-term debt 765,151 647,569
Current portion of finance lease liabilities 57,047 97,946
Current portion of operating lease liabilities 157,796 257,244
Current portion of grant repayable 37,992 39,295
Total Current Liabilities 4,317,909 3,859,874
Long-term debt, net of current portion 1,831,021 2,195,278
Finance lease liabilities, net of current portion 591,658 607,708
Operating lease liabilities, net of current portion 108,305 131,875
Grant repayable, net of current portion 277,267 297,991
Total Liabilities 7,126,160 7,092,726
STOCKHOLDERS' EQUITY    
Authorized: 100,000,000 shares of common stock, at $0.001 par value Issued and outstanding: 48,064,575 shares and 41,125,303 shares, respectively 48,065 41,125
Additional paid-in capital 124,121,703 103,853,627
Accumulated other comprehensive income (148,121) 125,670
Accumulated deficit (105,036,840) (89,821,856)
Total VolitionRx Limited Stockholders' Equity 18,984,807 14,198,566
Non-controlling interest (23,396) 0
Total Stockholders' Equity 18,961,411 14,198,566
Total Liabilities and Stockholders' Equity $ 26,087,571 $ 21,291,292
v3.20.2
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Services $ 0 $ 16,204 $ 0 $ 16,204
Royalty 0 892 2,112 892
Product 575 0 4,201 0
Total Revenues 575 17,096 6,313 17,096
Operating Expenses        
Research and development 3,180,177 2,642,610 10,567,988 7,596,097
General and administrative 1,080,308 1,354,992 4,292,666 4,020,893
Sales and marketing 244,510 195,641 734,355 718,047
Total Operating Expenses 4,504,995 4,193,243 15,595,009 12,335,037
Operating Loss (4,504,420) (4,176,147) (15,588,696) (12,317,941)
Other Income (Expenses)        
Grant income 0 0 98,870 0
Gain on disposal of fixed assets 200,393 0 293,595 0
Interest income 2,801 27,633 48,956 68,656
Interest expense (34,722) (32,291) (91,105) (95,507)
Other expenses 0 0 0 (196,957)
Total Other Income (Expenses) 168,472 (4,658) 350,316 (223,808)
Provision for Income Taxes 0 0 1 0
Net Loss (4,335,948) (4,180,805) (15,238,380) (12,541,749)
Net Loss attributable to Non-Controlling Interest 8,050 0 23,396 0
Net Loss attributable to VolitionRx Limited Stockholders (4,327,898) (4,180,805) (15,214,984) (12,541,749)
Other Comprehensive Income (Loss)        
Foreign currency translation adjustments (573,397) 401,309 (273,791) 427,168
Net Comprehensive Loss $ (4,909,345) $ (3,779,496) $ (15,512,171) $ (12,114,581)
Net Loss Per Share - Basic and Diluted attributable to VolitionRx Limited $ (0.09) $ (0.10) $ (0.34) $ (0.33)
Weighted Average Shares Outstanding        
Basic and Diluted 47,027,011 39,880,246 44,148,793 38,538,394
v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating Activities    
Net loss $ (15,238,380) $ (12,541,749)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 525,150 509,736
Amortization of operating lease right-of-use assets 194,749 51,090
Gain on disposal of fixed assets (293,595) 0
Stock-based compensation 981,992 1,090,691
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 (177,354) (163,638)
Accounts receivable (573) (16,031)
Other current assets (274,398) 44,904
Accounts payable and accrued liabilities 365,167 687,636
Management and directors' fees payable 47,672 47,575
Right-of-use assets operating leases liabilities (194,146) (48,475)
Net Cash Used In Operating Activities (13,729,747) (10,141,304)
Investing Activities:    
Purchases of property and equipment (679,782) (359,502)
Proceeds from sales of property and equipment 97,388 0
Net Cash Used In Investing Activities (582,394) (359,502)
Financing Activities:    
Net proceeds from issuances of common shares 19,200,954 16,488,257
Tax withholdings paid related to stock-based compensation (187,465) 0
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 (356,701) (262,661)
Payment on grants repayable (41,257) (39,261)
Payments on finance lease obligations (83,221) (106,616)
Net Cash Provided By Financing Activities 18,481,678 16,394,884
Effect of foreign exchange on cash (207,976) 375,869
Total Net Change in Cash 3,961,561 6,269,947
Cash and cash equivalents - Beginning of Period 16,966,168 13,427,222
Cash and cash equivalents - End of Period 20,927,729 19,697,169
Supplemental Disclosures of Cash Flow Information:    
Interest paid 91,105 95,507
Non-Cash Financing Activities:    
Common Stock issued on cashless exercises of stock options 118 2
Offering costs from issuance of common stock $ 1,229,169 $ 0
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