VolitionRx Ltd. Files 10-Q for Q1 2024

TL;DR

<b>VolitionRx Ltd. filed its Q1 2024 10-Q report, detailing financial performance and corporate information.</b>

AI Summary

VOLITIONRX LTD (VNRX) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. VolitionRx Ltd. reported financial results for the first quarter ended March 31, 2024. The company's fiscal year ends on December 31. The filing is a 10-Q, indicating a quarterly report. The company's principal business address is in Henderson, Nevada. VolitionRx Ltd. was formerly known as Standard Capital Corp.

Why It Matters

For investors and stakeholders tracking VOLITIONRX LTD, this filing contains several important signals. This filing provides investors with the latest financial snapshot of VolitionRx Ltd. for the first quarter of 2024, crucial for understanding the company's current performance and trajectory. As a 10-Q filing, it contains unaudited financial statements and management's discussion and analysis, offering insights into operational results and future outlook.

Risk Assessment

Risk Level: low — VOLITIONRX LTD shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags or significant negative events disclosed.

Analyst Insight

Review the detailed financial statements and management's discussion within the 10-Q to assess VolitionRx's operational performance and strategic initiatives for Q1 2024.

Financial Highlights

revenue

82108972

net Income

81898321

revenue Growth

0.001

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report period)
• 2024-05-13 — Filing Date (Date the report was filed)
• 10-Q — Form Type (Type of SEC filing)
• 001-36833 — SEC File Number (Company's SEC file number)

Key Players & Entities

• VOLITIONRX LTD (company) — Filer name
• 0001477932-24-002775 (other) — Accession Number
• 20240331 (date) — Period of report
• 20240513 (date) — Filed as of date
• STANDARD CAPITAL CORP (company) — Former company name
• 19990812 (date) — Date of name change
• HENDERSON (location) — City
• NV (location) — State

FAQ

Industry Context

VolitionRx Ltd. operates in the diagnostic substances industry, focusing on in vitro and in vivo diagnostic products.

Regulatory Implications

The company is subject to SEC regulations for its periodic financial reporting, including the filing of 10-Q forms.

What Investors Should Do

1. Analyze the revenue and net income figures for Q1 2024.
2. Review any disclosed risk factors or management's discussion on operational challenges.
3. Check for any subsequent events or significant corporate actions mentioned in the filing.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q
• 2024-05-13: Filing Date — Date the 10-Q was officially submitted to the SEC

Year-Over-Year Comparison

This is the Q1 2024 10-Q filing, providing updated financial information compared to previous filings.

Key Financial Figures

• $0.001 — ich Registered Common Stock, par value $0.001 per share VNRX NYSE American, LLC

Filing Documents

• vnrx_10q.htm (10-Q) — 1102KB
• vnrx_ex32.htm (EX-3.2) — 203KB
• vnrx_ex311.htm (EX-31.1) — 13KB
• vnrx_ex312.htm (EX-31.2) — 13KB
• vnrx_ex321.htm (EX-32.1) — 6KB
• 0001477932-24-002775.txt (&nbsp;) — 6090KB
• vnrx-20240331.xsd (EX-101.SCH) — 75KB
• vnrx-20240331_lab.xml (EX-101.LAB) — 355KB
• vnrx-20240331_cal.xml (EX-101.CAL) — 52KB
• vnrx-20240331_pre.xml (EX-101.PRE) — 318KB
• vnrx-20240331_def.xml (EX-101.DEF) — 214KB
• vnrx_10q_htm.xml (XML) — 1001KB

FINANCIAL STATEMENTS (UNAUDITED)

FINANCIAL STATEMENTS (UNAUDITED) 4 Item 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 27 Item 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 33 Item 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 33 PART II OTHER INFORMATION Item 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 35 Item 1A.

RISK FACTORS

RISK FACTORS 35 Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 35 Item 3. DEFAULTS UPON SENIOR SECURITIES 35 Item 4. MINE SAFETY DISCLOSURES 35 Item 5. OTHER INFORMATION 35 Item 6. EXHIBITS 36

SIGNATURES

SIGNATURES 37 Use of Terms Except as otherwise indicated by the context, references in this Quarterly Report on Form 10-Q to the "Company," "VolitionRx," "Volition," "we," "us," and "our" are references to VolitionRx Limited and its wholly owned subsidiaries, Volition Global Services SRL, Singapore Volition Pte. Limited, Belgian Volition SRL, Volition Diagnostics UK Limited, Volition America, Inc., Volition Germany GmbH, and its majority-owned subsidiary, Volition Veterinary Diagnostics Development LLC. Additionally, unless otherwise specified, all references to "$" refer to the legal currency of the United States of America. Nucleosomics TM, , Capture-PCR TM , Nu.Q and their respective logos are trademarks and/or service marks of VolitionRx and its subsidiaries. All other trademarks, service marks and trade names referred to herein are the property of their respective owners. 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS This Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2024 , or this Report, contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, which statements are subject to considerable risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this Report or incorporated by reference into this Report are forward-looking statements. These statements include, among other things, statements regarding predictions of earnings, revenues, expenses or other financial items; plans or expectations with respect to our development activities or business strategy; clinical studies and results; industry trends; anticipated demand for our products, or

FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) Page Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Operations and Comprehensive Loss 6 Condensed Consolidated Statements of Stockholders' Deficit 7 Condensed Consolidated Statements of Cash Flows 8 Notes to the Condensed Consolidated Financial Statements 9 4 Table of Contents VOLITIONRX LIMITED Condensed Consolidated Balance Sheets (Expressed in United States Dollars, except share numbers) March 31, December 31, 2024 2023 $ $ ASSETS (UNAUDITED) Current Assets Cash and cash equivalents 11,772,163 20,729,983 Accounts receivable 133,500 242,617 Prepaid expenses 1,094,287 521,370 Other current assets 470,103 360,125 Total Current Assets 13,470,053 21,854,095 Property and equipment, net 5,180,551 5,523,013 Operating lease right-of-use assets 569,163 549,504 Intangible assets, net 215,133 23,886 Total Assets 19,434,900 27,950,498 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts payable 3,527,673 3,211,287 Accrued liabilities 3,305,316 3,928,761 Deferred revenue 23,000,000 23,000,000 Management and directors' fees payable 60,246 59,625 Current portion of long-term debt 1,149,944 1,207,007 Current portion of finance lease liabilities 47,875 48,570 Current portion of operating lease liabilities 201,047 199,323 Current portion of grant repayable 54,700 55,855 Warrant liability 145,571 126,649 Total Current Liabilities 31,492,372 31,837,077 Long-term debt, net of current portion 3,372,568 3,624,860 Finance lease liabilities, net of current portion 379,667 400,022 Operating lease liabilities, net of current portion 396,376 378,054 Grant repayable, net of current portion 413,968 422,707 Total Long-Term Liabilities 4,562,579 4,825,643 Total Liabilities 36,054,951 36,662,720 Stockholders' Deficit Common Stock Authoriz

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