VOLITIONRX LTD
For the period ended Dec 31, 2023. Filed Mar 25, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 25, 2024
VNRX$0.18-7.8%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(Expressed in United States Dollars)
| For the Years Ended | ||
|---|---|---|
| December 31, 2023 | December 31, 2022 | |
| $ | $ | |
| Operating Activities: | ||
| Net loss | (35,677,074) | (30,598,469) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 1,152,534 | 936,084 |
| Amortization of operating lease right-of-use assets | 260,743 | 253,864 |
| Loss on disposal of fixed assets | 15,843 | - |
| Stock-based compensation | 2,289,545 | 3,114,659 |
| Gain on change in fair value of warrant liability | (240,311) | - |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (169,666) | (72,609) |
| Prepaid expenses | 263,550 | 433,995 |
| Other current assets | 87,441 | 351,514 |
| Accounts payable and accrued liabilities | 1,224,743 | 548,611 |
| Deferred revenue | 13,000,000 | 9,987,488 |
| Management and directors’ fees payable | (11,494) | (184) |
| Operating lease liabilities | (258,853) | (232,695) |
| Net Cash Used In Operating Activities | (18,062,999) | (15,277,742) |
| Investing Activities: | ||
| Purchases of property and equipment | (1,083,749) | (1,570,182) |
| Net Cash Used In Investing Activities | (1,083,749) | (1,570,182) |
| Financing Activities: | ||
| Net proceeds from issuance of common shares | 28,388,036 | 6,736,444 |
| Tax withholdings paid related to stock-based compensation | (203,878) | (180,472) |
| Common stock repurchased | (31,772) | - |
| Proceeds from grants repayable | 25,315 | 218,445 |
| Proceeds from long-term debt | 1,854,877 | 1,523,098 |
| Payments on long-term debt | (981,291) | (1,268,386) |
| Payments on grants repayable | (22,096) | (45,664) |
| Payments on financing leases | (46,506) | (45,433) |
| Net Cash Provided By Financing Activities | 28,982,685 | 6,938,032 |
| Effect of foreign exchange on cash and cash equivalents | 26,996 | 195,629 |
| Net Change in Cash and Cash Equivalents | 9,862,933 | (9,714,263) |
| Cash and Cash Equivalents – Beginning of Year | 10,867,050 | 20,581,313 |
| Cash and Cash Equivalents – End of Year | 20,729,983 | 10,867,050 |
| Supplemental Disclosures of Cash Flow Information: | ||
| Interest paid | 221,622 | 173,110 |
| Non-Cash Financing Activities: | ||
| Common Stock issued for settlement of vested RSUs | 658 | 297 |
| Offering costs from issuance of common stock | 392,822 | 427,443 |
| Fair value of warrants issued in connection with public offering at issuance | 366,960 | - |
| Non-cash note payable | 356,258 | 620,549 |
| (The accompanying notes are an integral part of these consolidated financial statements) | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.