VolitionRx Ltd Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Warrants And Options

Warrants And Options

6 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Note 8 - Warrants And Options

a) Warrants

On May 10, 2015, 26,685 warrants with an exercise price of $1.75 per share terminated by their terms.

On June 11, 2015, 100,000 warrants were exercised at a price of $0.50 per share, giving cash proceeds to the Company of $50,000. As a result, a total of 100,000 shares of common stock were issued.

Below is a table summarizing the warrants issued and outstanding as of June 30, 2015, which have a weighted average exercise price of $2.01 per share and a weighted average remaining contractual life of 4.7 years.

Date Issued	Number Outstanding		Exercise Price $		Contractual Life (Years)		Expiration Date	Proceeds to Company if Exercised $

03/15/11		100,000		0.50		5	3/15/2016		50,000
03/24/11		100,000		0.50		5	3/24/2016		50,000
04/01/11		100,000		0.50		5	4/1/2016		50,000
06/21/11		100,000		0.50		5	6/21/2016		50,000
07/13/11		250,000		1.05		5	07/13/16		262,500
05/11/12		344,059		2.60		4	05/10/16		894,553
03/20/13		150,000		2.47		3	03/20/16 to 12/20/19		370,500
06/10/13		29,750		2.00		5	12/10/18		59,500
08/07/13		45,000		2.40		3	08/07/16		108,000
11/25/13		456,063		2.40		5	11/25/18		1,094,551
12/31/13		64,392		2.40		5	11/25/18		154,541
01/28/14		10,000		2.40		3	01/28/17		24,000
02/26/14		1,505,975		2.20		5	02/26/19		3,313,145
09/05/14		10,000		2.40		3	09/05/17		24,000
09/26/14		24,000		3.00		3	09/26/17		72,000
11/17/14		19,000		3.75		3	11/17/17		71,250

		3,308,239							6,648,540

b) Options

On May 18, 2015, the Company granted options to purchase 20,000 shares. These options vest six months after the date of grant, and expire four years after the vesting date, with an exercise price of $3.80 per share. The Company has calculated the estimated fair market value of these options using the Black-Scholes Option Pricing model and the following assumptions: term 4.5 years, stock price $3.45, exercise price $3.80, 72.1% volatility, 1.54% risk free rate.

On May 18, 2015, the Company amended the expiry period of 630,000 stock options, originally granted on November 25, 2011. The expiration period was extended from three to four years for all 630,000 stock options.

Below is a table summarizing the options issued and outstanding as of June 30, 2015, which have a weighted average exercise price of $3.41 per share and a weighted average remaining contractual life of 3.8 years.

Date Issued	Number Outstanding		Exercise Price $		Contractual Life (Years)		Expiration Date	Proceeds to Company if Exercised $
11/25/11		630,000		3.00-5.00		4.5-7.0	05/25/16-11/25/18		2,520,000
09/01/12		30,000		4.31-6.31		3	03/01/16-09/01/18		159,300
12/13/12		100,000		3.01		3	12/13/15		301,000
03/20/13		37,000		2.35-4.35		3	09/20/16-03/20/19		123,950
09/02/13		16,300		2.35-4.35		3	03/02/14-09/02/16		54,605
05/16/14		25,000		3.00-5.00		3-5.5	11/16/17-05/16/20		100,000
08/18/14		670,000		2.50-3.00		4.5-5.5	02/18/19-02/18/20		1,842,500
08/18/14		60,000		3.00-5.00		3.5-6.0	02/18/18-08/18/20		240,000
05/18/15		20,000		3.80		4.50	11/18/19		76,000

		1,588,300							5,417,355

Total remaining unrecognized compensation cost related to non-vested stock options is approximately $361,046 and is expected to be recognized over a period of three years.