VolitionRx Limited (VNRX) 10-Q 8 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 02, 2019
Document And Entity Information
Entity Registrant Name	VOLITIONRX LTD
Entity Central Index Key	0000093314
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		37,813,991
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019
Entity Emerging Growth Company	false
Entity Small Business	true

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Current Assets
Cash and cash equivalents	$ 16,166,272	$ 13,427,222
Prepaid expenses	658,084	245,441
Other current assets	247,500	229,755
Total Current Assets	17,071,856	13,902,418
Property and equipment, net	3,024,512	3,119,643
Operating lease right-of-use assets	96,538
Intangible assets, net	437,766	466,905
Total Assets	20,630,672	17,488,966
Current Liabilities
Accounts payable	602,142	807,162
Accrued liabilities	1,361,853	923,034
Management and directors' fees payable	5,276	1,200
Current portion of long-term debt	467,754	416,553
Current portion of finance lease liabilities	143,118	145,150
Current portion of operating lease liabilities	46,747
Current portion of grant repayable	39,272	40,094
Total Current Liabilities	2,666,162	2,333,193
Long-term debt, net of current portion	1,797,227	1,984,262
Finance lease liabilities, net of current portion	669,123	720,013
Operating lease liabilities, net of current portion	50,349
Grant repayable, net of current portion	337,096	311,042
Total Long Term Liabilities	2,853,795	3,015,317
Total Liabilities	5,519,957	5,348,510
Commitments and contingencies
STOCKHOLDERS' EQUITY
Common Stock Authorized: 100,000,000 shares of common stock, at $0.001 par value Issued and outstanding: 37,813,991 shares and 35,335,378 shares, respectively	37,814	35,335
Additional paid-in capital	92,799,878	85,604,271
Accumulated other comprehensive income	199,597	223,651
Accumulated deficit	(77,926,574)	(73,722,801)
Total Stockholders' Equity	15,110,715	12,140,456
Total Liabilities and Stockholders' Equity	$ 20,630,672	$ 17,488,966

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
STOCKHOLDERS' EQUITY
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	100,000,000	100,000,000
Common Stock, shares issued	37,813,991	35,335,378
Common Stock, shares outstanding	37,813,991	35,335,378

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating Expenses
Research and development	$ 2,474,559	$ 2,423,202
General and administrative	1,217,876	1,842,093
Sales and marketing	284,280	364,144
Total Operating Expenses	3,976,715	4,629,439
Operating Loss	(3,976,715)	(4,629,439)
Other Expense
Interest expense	30,101	22,982
Other expenses	196,957
Total Other Expenses	(227,058)	(22,982)
Provision for Income Taxes
Net Loss	(4,203,773)	(4,652,421)
Other Comprehensive Income/(Loss)
Foreign currency translation adjustments	(24,054)	14,947
Net Comprehensive Loss	$ (4,227,827)	$ (4,637,474)
Net Loss per Share - Basic and Diluted	$ (0.12)	$ (0.17)
Weighted Average Shares Outstanding - Basic and Diluted	36,212,897	27,265,249

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating Activities
Net loss	$ (4,203,773)	$ (4,652,421)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	179,848	156,362
Stock based compensation	338,331	895,226
Warrants issued for services	2,127	2,199
Financing costs for warrants modified	196,957
Changes in operating assets and liabilities:
Deferred grant income
Prepaid expenses	(412,643)	(192,323)
Other current assets	(17,745)	(155,521)
Accounts payable and accrued liabilities	277,441	439,943
Right-of-use operating lease liabilities	(11,440)
Net Cash Used In Operating Activities	(3,650,897)	(3,506,535)
Investing Activities:
Purchases of property and equipment	(112,102)	(60,658)
Net Cash Used in Investing Activities	(112,102)	(60,658)
Financing Activities:
Net proceeds from issuance of common shares	6,660,671	7,796,000
Proceeds from grants received	32,652
Payments on long term debt	(87,577)	(35,926)
Payments on finance lease obligations	(35,678)	(35,243)
Net Cash Provided By Financing Activities	6,570,068	7,724,831
Effect of foreign exchange on cash	(68,019)	(13,619)
Net Change in Cash	2,739,050	4,144,019
Cash and cash equivalents – Beginning of Period	13,427,222	10,116,263
Cash and cash equivalents – End of Period	16,166,272	14,260,282
Supplemental Disclosures of Cash Flow Information :
Interest paid	30,101	22,982
Income tax paid
Non Cash Financing Activities:
Common stock issued on cashless exercises of stock options		$ 12

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) - USD ($)	Common Stock	Additional Paid-In Capital	Other Comprehensive Income (Loss)	Deficit Accumulated During The Research And Development Stage	Total
Beginning Balance, Shares at Dec. 31, 2017	26,519,394
Beginning Balance, Amount at Dec. 31, 2017	$ 26,519	$ 65,774,870	$ (129,343)	$ (55,714,178)	$ 9,957,868
Common stock issued for cash, net, Shares	3,500,000
Common stock issued for cash, net, Amount	$ 3,500	7,792,500			7,796,000
Common stock issued for cashless exercise of warrants, Shares	11,399
Common stock issued for cashless exercise of warrants, Amount	$ 12	(12)
Employee stock options granted for services		895,226			895,226
Warrants granted for services		2,199			2,199
Other comprehensive income			14,947		14,947
Net loss for the year				(4,652,421)	(4,652,421)
Ending Balance, Shares at Mar. 31, 2018	30,030,793
Ending Balance, Amount at Mar. 31, 2018	$ 30,031	74,464,783	(114,396)	(60,366,599)	14,013,819
Beginning Balance, Shares at Dec. 31, 2018	35,335,378
Beginning Balance, Amount at Dec. 31, 2018	$ 35,335	85,604,271	223,651	(73,722,801)	12,140,456
Common stock issued for cash, net, Shares	2,478,613
Common stock issued for cash, net, Amount	$ 2,479	6,658,192			6,660,671
Employee stock options granted for services		338,331			338,331
Warrants granted for services		2,127			2,127
Other comprehensive income			(24,054)		(24,054)
Modification of financing warrants		196,957			196,957
Net loss for the year				(4,203,773)	(4,203,773)
Ending Balance, Shares at Mar. 31, 2019	37,813,991
Ending Balance, Amount at Mar. 31, 2019	$ 37,814	$ 92,799,878	$ 199,597	$ (77,926,574)	$ 15,110,715

Nature of Operations

Nature of Operations	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Note 1 - Nature of Operations	The Company was incorporated under the laws of the State of Delaware on September 24, 1998. On September 22, 2011, the Company filed a Certificate for Renewal and Revival of Charter with Secretary of State of Delaware. Pursuant to Section 312(1) of the Delaware General Corporation Law, the Company was revived under the new name of “VolitionRX Limited”. The name change to VolitionRX Limited was approved by FINRA on October 7, 2011 and became effective on October 11, 2011. On October 7, 2016, the Company filed a Second Amended and Restated Certificate of Incorporation with the Secretary of State of Delaware that reflects the name “VolitionRx Limited”. On October 6, 2011, the Company entered into a share exchange agreement with Singapore Volition Pte. Limited, a Singapore corporation incorporated on August 5, 2010 (“Singapore Volition”), and the shareholders of Singapore Volition. Pursuant to the terms of the share exchange agreement, the former shareholders of Singapore Volition held 85% of the issued and outstanding common shares of the Company. The issuance was deemed to be a reverse acquisition for accounting purposes and as such, Singapore Volition is regarded as the predecessor of the Company. The number of shares outstanding and per share amounts of the Company have been restated to recognize the foregoing recapitalization. The Company’s principal business objective through its subsidiaries is to develop and bring to market simple, easy to use, cost effective blood tests designed to help diagnose a range of cancers and other diseases. The tests are based on the science of Nucleosomics, which is the practice of identifying and measuring nucleosomes in the bloodstream or other bodily fluid – an indication that disease is present. The Company has one wholly-owned subsidiary, Singapore Volition. Singapore Volition has one wholly-owned subsidiary, Belgian Volition SPRL, a Belgium private limited liability company formerly known as ValiBio SA (“Belgian Volition”), which it acquired as of September 22, 2010. Belgian Volition has two wholly-owned subsidiaries, Volition Diagnostics UK Limited (“Volition Diagnostics”), which was formed as of November 13, 2015 and Volition America, Inc. (“Volition America”), which was formed as of February 3, 2017. Following the acquisition of Singapore Volition in 2011, the Company’s fiscal year end was changed from August 31 to December 31.

Going Concern

Going Concern	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Note 2 - Going Concern	The Company's condensed consolidated financial statements are prepared using accounting principles generally accepted in the United States of America (“U.S. GAAP”) applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has incurred losses since inception of $77.9 million, has negative cash flows from operations, and currently has no revenues, which creates substantial doubt about its ability to continue as a going concern for a period of one year from the date of issuance of these condensed consolidated financial statements. The future of the Company as an operating business will depend on its ability to obtain sufficient capital contributions, financing and/or generate revenues as may be required to sustain its operations. Management plans to address the above as needed by, (a) securing additional grant funds, (b) obtaining additional financing through debt or equity transactions, (c) granting licenses to third parties in exchange for specified up-front and/or back-end payments and (d) developing and commercializing its products on an accelerated timeline. Management continues to exercise tight cost controls to conserve cash. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually attain profitable operations. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. If the Company is unable to obtain adequate capital, it could be forced to cease operations.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Note 3 - Summary of Significant Accounting Policies	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at March 31, 2019, and for all periods presented herein, have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance U.S. GAAP have been condensed or omitted. It is suggested that these unaudited condensed consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K, for the fiscal year ended December 31, 2018, as filed with the Securities and Exchange Commission on March 13, 2019. The results of operations for the periods ended March 31, 2019 and 2018 are not necessarily indicative of the operating results for the full years. The condensed consolidated financial statements of the Company are expressed in United States Dollars. The Company’s fiscal year end is December 31. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company also regularly evaluates estimates and assumptions related to deferred income tax asset valuation allowances and stock-based compensation. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. Principles of Consolidation The accompanying unaudited condensed consolidated financial statements for the period ended March 31, 2019 include the accounts of the Company and its wholly-owned subsidiaries, Singapore Volition, Belgian Volition, Volition America, and Volition Diagnostics. All significant intercompany balances and transactions have been eliminated in consolidation. Leases In February of 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2016-02- Leases (Topic 842), which significantly amends the way companies are required to account for leases. Under the updated leasing guidance, some leases that did not have to be reported previously are now required to be presented as an asset and liability on the balance sheet. In addition, for certain leases, what was previously classified as an operating expense must now be allocated between amortization expense and interest expense. The Company adopted this update as of January 1, 2019 using the optional modified retrospective transition method and prior periods have not been restated. Upon implementation, the Company recognized an initial operating lease right-of-use asset of $110,630 and operating lease liability of $110,630. Due to the simplistic nature of the Company's leases, no retained earnings adjustment was required. See Note 9(b) for further details. Basic and Diluted Net Loss Per Share The Company computes net loss per share in accordance with Accounting Standards Codification (“ASC”) 260, “Earnings Per Share,” which requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. As of March 31, 2019, 7,724,055 potential common shares equivalents from warrants and options were excluded from the diluted EPS calculations as their effect is anti-dilutive. Recent Accounting Pronouncements The Company has implemented all other new applicable accounting pronouncements that are in effect. The Company does not believe that there are any other new applicable accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Note 4 - Property and Equipment	The Company’s property and equipment consist of the following amounts as of March 31, 2019 and December 31, 2018: March 31, 2019 Accumulated Net Carrying Cost Depreciation Value Useful Life $ $ $ Computer hardware and software 3 years 384,040 193,325 190,715 Laboratory equipment 5 years 1,707,181 993,225 713,956 Office furniture and equipment 5 years 199,945 83,594 116,351 Buildings 30 years 1,471,384 102,163 1,369,221 Building improvements 5-15 years 630,471 85,968 544,503 Land Not amortized 89,766 - 89,766 4,482,787 1,458,275 3,024,512 December 31, 2018 Accumulated Net Carrying Cost Depreciation Value Useful Life $ $ $ Computer hardware and software 3 years 344,383 166,750 177,633 Laboratory equipment 5 years 1,673,215 928,841 744,374 Office furniture and equipment 5 years 204,129 75,137 128,992 Buildings 30 years 1,502,171 91,785 1,410,386 Building improvements 5-15 years 643,663 77,049 566,614 Land Not amortized 91,644 - 91,644 4,459,205 1,339,562 3,119,643 During the three months ended March 31, 2019 and March 31, 2018, the Company recognized $145,683 and $137,705 respectively, in depreciation expense.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Note 5 - Intangible Assets	The Company’s intangible assets consist of patents, mainly acquired in the acquisition of Belgian Volition. The patents and intellectual property are being amortized over the assets’ estimated useful lives, which range from 8 to 20 years. March 31, 2019 Accumulated Net Carrying Cost Depreciation Value $ $ $ Patents 1,146,839 709,073 437,766 December 31, 2018 Accumulated Net Carrying Cost Depreciation Value $ $ $ Patents 1,167,383 700,478 466,905 During the three months ended March 31, 2019, and March 31, 2018, the Company recognized $22,103 and $23,682, respectively, in amortization expense. The Company amortizes the long-lived assets on a straight line basis with terms ranging from 8 to 20 years. The annual estimated amortization schedule over the next five years is as follows: 2019 - remaining $ 63,765 2020 $ 87,497 2021 $ 87,497 2022 $ 87,497 2023 $ 87,497 Greater than 5 years $ 24,013 Total Intangible Assets $ 437,766 The Company periodically reviews its long-lived assets to ensure that their carrying value does not exceed their fair market value. The Company carried out such a review in accordance with ASC 360 as of December 31, 2018. The result of this review confirmed that the ongoing value of the patents was not impaired as of December 31, 2018.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Note 6 - Related Party Transactions	See Note 7 for common stock issued to related parties and Note 8 for stock options and warrants issued to related parties. The Company has agreements with related parties for consultancy services which are accrued under management and directors’ fees payable (see condensed consolidated balance sheets).

Common Stock

Common Stock	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Note 7 - Common Stock	As of March 31, 2019, the Company was authorized to issue 100 million shares of common stock par value $0.001 per share, of which 37,813,991 and 35,335,378 shares were issued outstanding as of March 31, 2019 and December 31, 2018, respectively. Issuances Upon Warrant Exercises From January 30, 2019 to February 26, 2019, 754,475 warrants were exercised at a price of $2.20 per share, for gross cash proceeds to the Company of $1.66 million. As a result, a total of 754,475 shares of common stock were issued. On March 8, 2019, Cotterford Company Limited exercised 1,724,138 warrants at a price of $2.90 per share, for gross cash proceeds to the Company of $5 million. As a result, a total of 1,724,138 shares of common stock were issued. Equity Distribution Agreement On September 7, 2018, the Company entered into an equity distribution agreement with Oppenheimer & Co. Inc. (“Oppenheimer”), which agreement allows it to offer and sell shares of common stock having an aggregate offering price of up to $10.0 million from time to time pursuant to a shelf registration statement on Form S-3 (declared effective by the SEC on September 28, 2018, File No. 333-227248) through Oppenheimer acting as the Company’s agent and/or principal. As of March 31, 2019, the Company had not sold any shares under the equity distribution agreement.

Warrants And Options

Warrants And Options	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Note 8 - Warrants and Options	a) Warrants The following table summarizes the changes in warrants outstanding of the Company during the three-month period ended March 31, 2019: Weighted Average Number of Warrants Exercise Price ($) Outstanding at December 31, 2018 6,107,617 2.88 Granted - - Exercised (2,478,613 ) 2.68 Expired (133,750 ) 2.20 Outstanding at March 31, 2019 3,495,254 2.99 Exercisable at March 31, 2019 3,370,254 3.01 Effective March 5, 2019, the Company entered into an amendment to an outstanding warrant to purchase up to an aggregate of 5.0 million shares of our common stock, originally issued to Cotterford Company Limited, a significant stockholder, in connection with an equity financing completed on or about August 10, 2018. The amendment temporarily reduced the exercise price of such warrant from $3.00 per share to $2.90 per share through the close of business on March 8, 2019. On March 8, 2019, Cotterford Company Limited partially exercised the warrant for 1,724,138 shares of our common stock at $2.90 per share resulting in gross proceeds of $5.0 million. The warrant remains exercisable through August 10, 2019 for the remaining balance of 3,275,862 shares of common stock at a price of $3.00 per share. As a result of this amendment, $196,957 was recorded in other expenses. During the quarter ended March 31, 2019, 2,478,613 warrants were exercised (including the exercise by Cotterford Company Limited referenced above) for gross cash proceeds to the Company of $6.66 million. Refer to Note 7 for the details of these exercises. Below is a table summarizing the warrants issued and outstanding as of March 31, 2019, which have an aggregate weighted average remaining contractual life of 0.50 years. Weighted Average Remaining Proceeds to Number Number Exercise Contractual Company if Outstanding Exercisable Price ($) Life (Years) Exercised ($) 29,392 29,392 2.40 0.75 70,541 150,000 25,000 2.47 3.43 370,500 3,275,862 3,275,862 3.00 0.36 9,827,586 40,000 40,000 4.53 1.63 181,200 3,495,254 3,370,254 10,449,827 Warrant expense of $2,127 and $2,199 was recorded in the three-months ended March 31, 2019 and March 31, 2018, respectively. Total remaining unrecognized compensation cost related to unvested warrants is approximately $14,885 and is expected to be recognized over a period of 1.8 years. As of March 31, 2019, the total intrinsic value of warrants was $960,949. b) Options The following table summarizes the changes in options outstanding of the Company during the three-month period ended March 31, 2019: Weighted Average Number of Options Exercise Price ($) Outstanding at December 31, 2018 3,498,801 4.00 Granted 730,000 3.25 Exercised - - Expired/Cancelled - - Outstanding at March 31, 2019 4,228,801 3.87 Exercisable at March 31, 2019 3,473,801 4.00 Effective February 11, 2019, the Company granted stock options to purchase 730,000 shares of common stock to various Company personnel (including directors, executives, members of management and employees) for services to the Company. These options vest on February 11, 2020 and expire 5 years after the vesting date, with an exercise price of $3.25 per share. The Company has calculated the estimated fair market value of these options at $1,569,816, using the Black-Scholes model and the following assumptions: term 6 years, stock price $3.16, exercise price $3.25, 77.86% volatility, 2.52% risk free rate, and no forfeiture rate. Below is a table summarizing the options issued and outstanding as of March 31, 2019, all of which were issued pursuant to the 2011 Equity Incentive Plan (for option issuances prior to 2016) or the 2015 Stock Incentive Plan (for option issuances commencing in 2016) and which have an aggregate weighted average remaining contractual life of 3.73 years. As of March 31, 2019, a total of 69,000 shares of common stock remained available for future issuance under the 2015 Stock Incentive Plan. Weighted Average Remaining Proceeds to Number Number Exercise Contractual Company if Outstanding Exercisable Price ($) Life (Years) Exercised ($) 17,766 17,766 2.35 0.95 41,750 322,500 322,500 2.50 1.39 806,250 322,500 322,500 3.00 1.39 967,500 730,000 - 3.25 5.87 2,372,500 17,767 17,767 3.35 1.95 59,519 20,000 20,000 3.80 2.13 76,000 1,911,167 1,886,167 4.00 3.17 7,644,669 17,767 17,767 4.35 2.95 77,286 50,000 50,000 4.80 3.76 240,000 819,334 819,334 5.00 2.73 4,096,670 4,228,801 3,473,801 16,382,144 Stock option expense of $338,331 and $895,226 was recorded in the three months ended March 31, 2019 and March 31, 2018, respectively. Total remaining unrecognized compensation cost related to non-vested stock options is approximately $1,381,839 and is expected to be recognized over a period of 0.87 years. As of March 31, 2019, the total intrinsic value of stock options was $338,490.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Note 9 - Commitments and Contingencies	a) Finance Lease Obligations In 2015, the Company entered into an equipment finance lease to purchase three Tecan machines (automated liquid handling robots) for €550,454 Euros. As of March 31, 2019, the balance payable was $112,347. In 2016, the Company entered into a real estate finance lease with ING Asset Finance Belgium S.A. (“ING”) to purchase a property located in Belgium for €1.12 million Euros. As of March 31, 2019, the balance payable was $673,787. In 2018, the Company entered into a finance lease with BNP Paribas leasing solutions to purchase a freezer for the Belgium facility for €25,000 Euros. The leased equipment is amortized on a straight line basis over 5 years. As of March 31, 2019, the balance payable was $26,107. The following is a schedule showing the future minimum lease payments under finance leases by years and the present value of the minimum payments as of March 31, 2019. 2019 - remaining $ 121,733 2020 $ 114,584 2021 $ 69,907 2022 $ 61,762 2023 $ 60,353 Greater than 5 years $ 505,433 Total $ 933,772 Less: Amount representing interest $ (121,531 ) Present value of minimum lease payments $ 812,241 b) Operating Lease Right-of-Use Obligations The Company adopted Topic 842 on January 1, 2019. The Company elected to adopt this standard using the optional modified retrospective transition method and recognized a cumulative-effect adjustment to the condensed consolidated balance sheet on the date of adoption. Comparative periods have not been restated. With the adoption of Topic 842, the Company’s condensed consolidated balance sheet now contains the following line items: Operating lease right-of-use assets, Current portion of operating lease liabilities and Operating lease liabilities, net of current portion. As all the existing leases subject to the new lease standard were previously classified as operating leases by the Company, they were similarly classified as operating leases under the new standard. The Company has determined that the identified operating leases did not contain non-lease components and require no further allocation of the total lease cost. Additionally, the agreements in place did not contain information to determine the rate implicit in the leases, so we used our incremental borrowing rate as the discount rate. Our weighted average discount rate is 4.50% and the weighted average remaining lease term is 26 months. As of March 31, 2019, operating lease right-of-use assets and liabilities arising from operating leases was $97,096, respectively. During the three months ended March 31, 2019, cash paid for amounts included for the measurement of lease liabilities was $12,494 and the Company recorded operating lease expense of $13,052. The following is a schedule showing the future minimum lease payments under operating leases by years and the present value of the minimum payments as of March 31, 2019. 2019-remaining $ 37,536 2020 $ 49,296 2021 $ 14,835 Total Operating Lease Obligations $ 101,667 Less: Amount representing interest $ (4,571 ) Present Value of minimum lease payments $ 97,096 The Company’s office spaces are short term. The Company has elected not to recognize them on the balance sheet under the short-term recognition exemption. During the three-months ended March 31, 2019, $45,264 was recognized in short-term lease costs associated with office space leases. The annual payments remaining for short term office leases were as follows: 2019-remaining $ 128,953 2020 $ 13,708 Total Lease Obligations $ 142,661 c) Grants Repayable In 2010, the Company entered into an agreement with the Walloon Region government in Belgium for a colorectal cancer research grant for €1.05 million Euros. Per the terms of the agreement, €314,406 Euros of the grant is to be repaid.by instalments over the period from June 30, 2014 to June 30, 2023. The Company has recorded the balance of €733,614 Euros to other income in previous years as there is no obligation to repay this amount. In the event that the Company receives revenue from products or services as defined in the agreement, it is due to pay a 6% royalty on such revenue to the Walloon Region. The maximum amount payable to the Walloon Region, in respect of the aggregate of the amount repayable of €314,406 Euros and the 6% royalty on revenue, is twice the amount of funding received. As of March 31, 2019, the grant balance repayable was $176,620. In 2018, the Company entered into an agreement with the Walloon Region government in Belgium for a colorectal cancer research grant for €605,000 Euros. Per the terms of the agreement, €181,500 Euros of the grant is to be repaid by instalments over 12 years commencing in 2020. In the event that the Company receives revenue from products or services as defined in the agreement, it is due to pay a 3.53% royalty on such revenue to the Walloon Region. The maximum amount payable to the Walloon Region, in respect of the aggregate of the amount repayable of €181,500 Euros and the 3.53% royalty on revenue, is equal to the amount of funding received. As of March 31, 2019, the grant balance repayable was $199,748. As of March 31, 2019, the total grant balance repayable was $376,368 and the annual payments remaining were as follows: 2019 - remaining $ 39,272 2020 $ 52,849 2021 $ 49,939 2022 $ 47,239 2023 $ 48,408 2024 + $ 138,661 Total Grants Repayable $ 376,368 d) Long-Term Debt In 2016, the Company entered into a 7-year loan agreement with Namur Invest for €440,000 Euros with a fixed interest rate of 4.85%. As of March 31, 2019, the principal balance payable was $375,675. In 2016, the Company entered into a 15-year loan agreement with ING for €270,000 Euros with a fixed interest rate of 2.62%. As of March 31, 2019, the principal balance payable was $265,523. In 2017, the Company entered into a 4-year loan agreement with Namur Invest for €350,000 Euros with a fixed interest rate of 4.00%. As of March 31, 2019, the principal balance payable was $258,722. In 2017, the Company entered into a 7-year loan agreement with SOFINEX for up to €1 million Euros with a fixed interest rate of 4.50%. As of March 31, 2019, €750,000 Euros has been drawn down under this agreement and the principal balance payable was $841,552. In 2018, the Company entered into a 4-year loan agreement with Namur Innovation and Growth for €500,000 Euros with fixed interest rate of 4.00%. As of March 31, 2019, the principal balance payable was $523,509. As of March 31, 2019, the total balance for long-term debt payable was $2,264,981 and the payments remaining were as follows: 2019 - remaining $ 373,355 2020 $ 674,736 2021 $ 604,290 2022 $ 447,953 2023 $ 233,898 Greater than 5 years $ 198,788 Total $ 2,533,020 Less: Amount representing interest $ (268,039 ) Total Long-Term Debt $ 2,264,981 e) Collaborative Agreement Obligations In 2015, the Company entered into a research sponsorship agreement with DKFZ, in Germany for a 3-year period for €338,984 Euros. As of March 31, 2019, $84,155 is still to be paid by the Company under this agreement. In 2016, the Company entered into a research co-operation agreement with DKFZ, in Germany for a 5-year period for €400,000 Euros. As of March 31, 2019, $224,414 is still to be paid by the Company under this agreement. In 2016, the Company entered into a collaborative research agreement with Munich University, in Germany for a 3-year period for €360,000 Euros. As of March 31, 2019, $298,471 is still to be paid by the Company under this agreement. In 2017, the Company entered into a clinical study research agreement with the University of Michigan for a 3-year period for up to $3 million. As of March 31, 2019, up to $1.50 million is still to be paid by the Company under this agreement. In 2018, the Company entered into a research collaboration agreement with the University of Taiwan for a 3-year period for a cost to the Company of up to $2.55 million payable over such period. As of March 31, 2019, $2.04 million is still to be paid by the Company under this agreement. As of March 31, 2019, the total amount to be paid for future research and collaboration commitments was approximately $4.15 million and the annual payments remaining were as follows: 2019 - remaining $ 2,262,077 2020 $ 992,463 2021 $ 892,500 Total Collaborative Agreement Obligations $ 4,147,040 f) Legal Proceedings There are no legal proceedings which the Company believes will have a material adverse effect on its financial position.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Note 10 - Subsequent Events	On April 30, 2019, stock options to purchase 30,000 shares of common stock expired unexercised. On May 1, 2019, the Company entered into a research collaboration agreement with the University of Taiwan to collect a total of 1,200 samples for a 2-year period for a cost to the Company of $320,000 payable over such period. On May 3, 2019, Cotterford Company Limited partially exercised its warrant for 1,666,667 shares of our common stock at $3.00 per share resulting in the issuance of 1,666,667 shares of common stock for gross proceeds of $5.0 million. The warrant remains exercisable through August 10, 2019 for the remaining balance of 1,609,195 shares of common stock at a price of $3.00 per share.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Summary Of Significant Accounting Policies
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, and cash flows at March 31, 2019, and for all periods presented herein, have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance U.S. GAAP have been condensed or omitted. It is suggested that these unaudited condensed consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K, for the fiscal year ended December 31, 2018, as filed with the Securities and Exchange Commission on March 13, 2019. The results of operations for the periods ended March 31, 2019 and 2018 are not necessarily indicative of the operating results for the full years. The condensed consolidated financial statements of the Company are expressed in United States Dollars. The Company’s fiscal year end is December 31.
Use of Estimates	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company also regularly evaluates estimates and assumptions related to deferred income tax asset valuation allowances and stock-based compensation. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.
Principles of Consolidation	The accompanying unaudited condensed consolidated financial statements for the period ended March 31, 2019 include the accounts of the Company and its wholly-owned subsidiaries, Singapore Volition, Belgian Volition, Volition America, and Volition Diagnostics. All significant intercompany balances and transactions have been eliminated in consolidation.
Leases	In February of 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2016-02 - Leases (Topic 842), which significantly amends the way companies are required to account for leases. Under the updated leasing guidance, some leases that did not have to be reported previously are now required to be presented as an asset and liability on the balance sheet. In addition, for certain leases, what was previously classified as an operating expense must now be allocated between amortization expense and interest expense. The Company adopted this update as of January 1, 2019 using the optional modified retrospective transition method and prior periods have not been restated. Upon implementation, the Company recognized an initial operating lease right-of-use asset of $110,630 and operating lease liability of $110,630. Due to the simplistic nature of the Company's leases, no retained earnings adjustment was required. See Note 9(b) for further details.
Basic and Diluted Net Loss Per Share	The Company computes net loss per share in accordance with Accounting Standards Codification (“ASC”) 260, “Earnings Per Share,” which requires presentation of both basic and diluted earnings per share (EPS) on the face of the income statement. Basic EPS is computed by dividing net loss available to common shareholders (numerator) by the weighted average number of shares outstanding (denominator) during the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method. In computing diluted EPS, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options or warrants. As of March 31, 2019, 7,724,055 potential common shares equivalents from warrants and options were excluded from the diluted EPS calculations as their effect is anti-dilutive.
Recent Accounting Pronouncements	The Company has implemented all other new applicable accounting pronouncements that are in effect. The Company does not believe that there are any other new applicable accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2019
Property And Equipment Tables
Property and Equipment	March 31, 2019 Accumulated Net Carrying Cost Depreciation Value Useful Life $ $ $ Computer hardware and software 3 years 384,040 193,325 190,715 Laboratory equipment 5 years 1,707,181 993,225 713,956 Office furniture and equipment 5 years 199,945 83,594 116,351 Buildings 30 years 1,471,384 102,163 1,369,221 Building improvements 5-15 years 630,471 85,968 544,503 Land Not amortized 89,766 - 89,766 4,482,787 1,458,275 3,024,512 December 31, 2018 Accumulated Net Carrying Cost Depreciation Value Useful Life $ $ $ Computer hardware and software 3 years 344,383 166,750 177,633 Laboratory equipment 5 years 1,673,215 928,841 744,374 Office furniture and equipment 5 years 204,129 75,137 128,992 Buildings 30 years 1,502,171 91,785 1,410,386 Building improvements 5-15 years 643,663 77,049 566,614 Land Not amortized 91,644 - 91,644 4,459,205 1,339,562 3,119,643

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2019
Intangible Assets Tables
Schedule of Intangible Assets	March 31, 2019 Accumulated Net Carrying Cost Depreciation Value $ $ $ Patents 1,146,839 709,073 437,766 December 31, 2018 Accumulated Net Carrying Cost Depreciation Value $ $ $ Patents 1,167,383 700,478 466,905
Schedule of Intangible Assets, Future Amortization Expense	2019 - remaining $ 63,765 2020 $ 87,497 2021 $ 87,497 2022 $ 87,497 2023 $ 87,497 Greater than 5 years $ 24,013 Total Intangible Assets $ 437,766

Warrants and Options (Tables)

Warrants and Options (Tables)	3 Months Ended
	Mar. 31, 2019
Option [Member]
Summary of changes in warrants outstanding	Weighted Average Number of Options Exercise Price ($) Outstanding at December 31, 2018 3,498,801 4.00 Granted 730,000 3.25 Exercised - - Expired/Cancelled - - Outstanding at March 31, 2019 4,228,801 3.87 Exercisable at March 31, 2019 3,473,801 4.00
Summary of warrants issued and outstanding	Weighted Average Remaining Proceeds to Number Number Exercise Contractual Company if Outstanding Exercisable Price ($) Life (Years) Exercised ($) 17,766 17,766 2.35 0.95 41,750 322,500 322,500 2.50 1.39 806,250 322,500 322,500 3.00 1.39 967,500 730,000 - 3.25 5.87 2,372,500 17,767 17,767 3.35 1.95 59,519 20,000 20,000 3.80 2.13 76,000 1,911,167 1,886,167 4.00 3.17 7,644,669 17,767 17,767 4.35 2.95 77,286 50,000 50,000 4.80 3.76 240,000 819,334 819,334 5.00 2.73 4,096,670 4,228,801 3,473,801 16,382,144
Warrant [Member]
Summary of changes in warrants outstanding	Weighted Average Number of Warrants Exercise Price ($) Outstanding at December 31, 2018 6,107,617 2.88 Granted - - Exercised (2,478,613 ) 2.68 Expired (133,750 ) 2.20 Outstanding at March 31, 2019 3,495,254 2.99 Exercisable at March 31, 2019 3,370,254 3.01
Summary of warrants issued and outstanding	Weighted Average Remaining Proceeds to Number Number Exercise Contractual Company if Outstanding Exercisable Price ($) Life (Years) Exercised ($) 29,392 29,392 2.40 0.75 70,541 150,000 25,000 2.47 3.43 370,500 3,275,862 3,275,862 3.00 0.36 9,827,586 40,000 40,000 4.53 1.63 181,200 3,495,254 3,370,254 10,449,827

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2019
Commitments And Contingencies
Schedule of Future Minimum Lease Payments for Capital Leases	2019 - remaining $ 121,733 2020 $ 114,584 2021 $ 69,907 2022 $ 61,762 2023 $ 60,353 Greater than 5 years $ 505,433 Total $ 933,772 Less: Amount representing interest $ (121,531 ) Present value of minimum lease payments $ 812,241
Operating lease payments	2019-remaining $ 37,536 2020 $ 49,296 2021 $ 14,835 Total Operating Lease Obligations $ 101,667 Less: Amount representing interest $ (4,571 ) Present Value of minimum lease payments $ 97,096
Schedule of annual payments remaining for short term leases	2019-remaining $ 128,953 2020 $ 13,708 Total Lease Obligations $ 142,661
Schedule of expected benefit payments	2019 - remaining $ 39,272 2020 $ 52,849 2021 $ 49,939 2022 $ 47,239 2023 $ 48,408 2024 + $ 138,661 Total Grants Repayable $ 376,368
Schedule of maturities of long term debt	2019 - remaining $ 373,355 2020 $ 674,736 2021 $ 604,290 2022 $ 447,953 2023 $ 233,898 Greater than 5 years $ 198,788 Total $ 2,533,020 Less: Amount representing interest $ (268,039 ) Total Long-Term Debt $ 2,264,981
Schedule of collaborative arrangements obligations	2019 - remaining $ 2,262,077 2020 $ 992,463 2021 $ 892,500 Total Collaborative Agreement Obligations $ 4,147,040

Nature of Operations (Details N

Nature of Operations (Details Narrative)	3 Months Ended
	Mar. 31, 2019
Nature Of Operations
State of Incorporation	Delaware
Date of Incorporation	Sep. 24, 1998
Common stock shares held by shareholders of singapore volition, percentage	85.00%

Going Concern (Details Narrativ

Going Concern (Details Narrative) - USD ($)	3 Months Ended		104 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019
Going Concern Details Narrative
Net loss	$ (4,203,773)	$ (4,652,421)	$ (77,900,000)

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative)	Mar. 31, 2019USD ($)shares
Summary Of Significant Accounting Policies Details Narrative Abstract
Potentially dilutive securities excluded from the computation of EPS | shares	7,724,055
Operating lease liability	$ 110,630
Operating lease asset	$ 110,630

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Cost	$ 4,482,787	$ 4,459,205
Accumulated Depreciation	1,458,275	1,339,562
Net Carrying Value	$ 3,024,512	$ 3,119,643
Computer Hardware And Software [Member]
Useful Life	3 years	3 years
Cost	$ 384,040	$ 344,383
Accumulated Depreciation	193,325	166,750
Net Carrying Value	$ 190,715	$ 177,633
Laboratory Equipment [Member]
Useful Life	5 years	5 years
Cost	$ 1,707,181	$ 1,673,215
Accumulated Depreciation	993,225	928,841
Net Carrying Value	$ 713,956	$ 744,374
Office Furniture and Equipment [Member]
Useful Life	5 years	5 years
Cost	$ 199,945	$ 204,129
Accumulated Depreciation	83,594	75,137
Net Carrying Value	$ 116,351	$ 128,992
Buildings [Member]
Useful Life	30 years	30 years
Cost	$ 1,471,384	$ 1,502,171
Accumulated Depreciation	102,163	91,785
Net Carrying Value	1,369,221	1,410,386
Building Improvements [Member]
Cost	630,471	643,663
Accumulated Depreciation	85,968	77,049
Net Carrying Value	$ 544,503	$ 566,614
Building Improvements [Member] | Minimum [Member]
Useful Life	5 years	5 years
Building Improvements [Member] | Maximum [Member]
Useful Life	15 years	15 years
Land [Member]
Cost	$ 89,766	$ 91,644
Accumulated Depreciation
Net Carrying Value	$ 89,766	$ 91,644

Property and Equipment (Detai_2

Property and Equipment (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Property And Equipment Details Narrative
Depreciation Expense	$ 145,683	$ 137,705

Intangible Assets (Details)

Intangible Assets (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Net Carrying Value	$ 437,766	$ 466,905
Patents [Member]
Cost	1,146,839	1,167,383
Accumulated Depreciation	709,073	700,478
Net Carrying Value	$ 437,766	$ 466,905

Intangible Assets (Details 1)

Intangible Assets (Details 1) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Intangible Assets Details 1
2019	$ 63,765
2020	87,497
2021	87,497
2022	87,497
2023	87,497
Greater than 5 years	24,013
Total Intangible Assets	$ 437,766	$ 466,905

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Amortization expense	$ 22,103	$ 23,682
Patents And Intellectual Property [Member] | Minimum [Member]
Amortization of long-lived asset on straight line basis	8 years
Patents And Intellectual Property [Member] | Maximum [Member]
Amortization of long-lived asset on straight line basis	20 years

Common Stock (Details Narrative

Common Stock (Details Narrative) - USD ($)	Mar. 08, 2019	Sep. 07, 2018	Feb. 26, 2019	Mar. 31, 2019	Dec. 31, 2018
Common Stock, shares authorized				100,000,000	100,000,000
Common Stock, shares issued				37,813,991	35,335,378
Common Stock, shares outstanding				37,813,991	35,335,378
Common Stock, par value				$ 0.001	$ 0.001
Common Stock | Oppenheimer & Co Inc. [Member]
Description of aggregate offering price		Aggregate offering price of up to $10.0 million from time to time pursuant to a shelf registration statement
Warrants [Member]
Warrants exercised			754,475
Exercise price			$ 2.20
Proceeds from warrants exercised			$ 1,660,000
Common stock shares issued for warrants exercised			754,475
Warrants [Member] | Cotterford [Member]
Warrants exercised	1,724,138
Exercise price	$ 2.90
Proceeds from warrants exercised	$ 5,000,000
Common stock shares issued for warrants exercised	1,724,138

Warrants And Options (Details)

Warrants And Options (Details)	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Number of Warrants
Outstanding, Ending	4,228,801
Exercisable, Ending	3,473,801
Weighted Average Exercise Price
Outstanding, Ending | $ / shares	$ 3.87
Warrant [Member]
Number of Warrants
Outstanding, Beginning	6,107,617
Granted
Exercised	(2,478,613)
Expired	(133,750)
Outstanding, Ending	3,495,254
Exercisable, Ending	3,370,254
Weighted Average Exercise Price
Outstanding, Beginning | $ / shares	$ 2.88
Granted | $ / shares
Exercised | $ / shares	2.68
Expired | $ / shares	2.20
Outstanding, Ending | $ / shares	2.99
Exercisable, Ending | $ / shares	$ 3.01

Warrants And Options (Details 1

Warrants And Options (Details 1)	3 Months Ended
	Mar. 31, 2019USD ($)$ / sharesshares
Number Outstanding	4,228,801
Number Exercisable	3,473,801
Exercise Price | $ / shares	$ 3.87
Warrant One [Member]
Number Outstanding	29,392
Number Exercisable	29,392
Exercise Price | $ / shares	$ 2.40
Weighted Average Remaining Contractual Life (Years)	9 months
Proceeds to Company if Exercised | $	$ 70,541
Warrant Two [Member]
Number Outstanding	150,000
Number Exercisable	25,000
Exercise Price | $ / shares	$ 2.47
Weighted Average Remaining Contractual Life (Years)	3 years 5 months 5 days
Proceeds to Company if Exercised | $	$ 370,500
Warrant Three [Member]
Number Outstanding	3,275,862
Number Exercisable	3,275,862
Exercise Price | $ / shares	$ 3
Weighted Average Remaining Contractual Life (Years)	4 months 9 days
Proceeds to Company if Exercised | $	$ 9,827,586
Warrant Four [Member]
Number Outstanding	40,000
Number Exercisable	40,000
Exercise Price | $ / shares	$ 4.53
Weighted Average Remaining Contractual Life (Years)	1 year 7 months 17 days
Proceeds to Company if Exercised | $	$ 181,200
Warrant [Member]
Number Outstanding	3,495,254
Number Exercisable	3,370,254
Proceeds to Company if Exercised | $	$ 10,449,827

Warrants And Options (Details 2

Warrants And Options (Details 2)	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Number of Options
Outstanding, Ending	4,228,801
Exercisable, Ending	3,473,801
Weighted Average Exercise Price
Outstanding, Ending | $ / shares	$ 3.87
Option [Member]
Number of Options
Outstanding, Beginning	3,498,801
Granted	730,000
Exercised
Expired/Cancelled
Outstanding, Ending	4,228,801
Exercisable, Ending	3,473,801
Weighted Average Exercise Price
Outstanding, Beginning | $ / shares	$ 4
Granted | $ / shares	3.25
Exercised | $ / shares
Expired/Cancelled | $ / shares
Outstanding, Ending | $ / shares	3.87
Exercisable, Ending | $ / shares	$ 4

Warrants And Options (Details 3

Warrants And Options (Details 3)	3 Months Ended
	Mar. 31, 2019USD ($)$ / sharesshares
Number Outstanding	4,228,801
Number Exercisable	3,473,801
Exercise Price | $ / shares	$ 3.87
Weighted Average Remaining Contractual Life (Years)	10 months 14 days
Proceeds to Company if Exercised | $	$ 16,382,144
Option [Member]
Number Outstanding	17,766
Number Exercisable	17,766
Exercise Price | $ / shares	$ 2.35
Weighted Average Remaining Contractual Life (Years)	11 months 12 days
Proceeds to Company if Exercised | $	$ 41,750
Option One [Member]
Number Outstanding	322,500
Number Exercisable	322,500
Exercise Price | $ / shares	$ 2.50
Weighted Average Remaining Contractual Life (Years)	1 year 4 months 20 days
Proceeds to Company if Exercised | $	$ 806,250
Stock option Two [Member]
Number Outstanding	322,500
Number Exercisable	322,500
Exercise Price | $ / shares	$ 3
Weighted Average Remaining Contractual Life (Years)	1 year 4 months 20 days
Proceeds to Company if Exercised | $	$ 967,500
Option Three [Member]
Number Outstanding	730,000
Number Exercisable
Exercise Price | $ / shares	$ 3.25
Weighted Average Remaining Contractual Life (Years)	5 years 10 months 14 days
Proceeds to Company if Exercised | $	$ 2,372,500
Option Four [Member]
Number Outstanding	17,767
Number Exercisable	17,767
Exercise Price | $ / shares	$ 3.35
Weighted Average Remaining Contractual Life (Years)	1 year 11 months 12 days
Proceeds to Company if Exercised | $	$ 59,519
Option Five [Member]
Number Outstanding	20,000
Number Exercisable	20,000
Exercise Price | $ / shares	$ 3.80
Weighted Average Remaining Contractual Life (Years)	2 years 1 month 16 days
Proceeds to Company if Exercised | $	$ 76,000
Option Six [Member]
Number Outstanding	1,911,167
Number Exercisable	1,886,167
Exercise Price | $ / shares	$ 4
Weighted Average Remaining Contractual Life (Years)	3 years 2 months 1 day
Proceeds to Company if Exercised | $	$ 7,644,669
Option Seven [Member]
Number Outstanding	17,767
Number Exercisable	17,767
Exercise Price | $ / shares	$ 4.35
Weighted Average Remaining Contractual Life (Years)	2 years 11 months 12 days
Proceeds to Company if Exercised | $	$ 77,286
Option Eight [Member]
Number Outstanding	50,000
Number Exercisable	50,000
Exercise Price | $ / shares	$ 4.80
Weighted Average Remaining Contractual Life (Years)	3 years 9 months 3 days
Proceeds to Company if Exercised | $	$ 240,000
Option Nine [Member]
Number Outstanding	819,334
Number Exercisable	819,334
Exercise Price | $ / shares	$ 5
Weighted Average Remaining Contractual Life (Years)	2 years 8 months 23 days
Proceeds to Company if Exercised | $	$ 4,096,670

Warrants And Options (Details N

Warrants And Options (Details Narrative) - USD ($)	Mar. 08, 2019	Mar. 05, 2019	Mar. 31, 2019	Mar. 31, 2018
Aggregate Intrinsic value			$ 16,382,144
Stock based compensation expense			$ 338,331	$ 895,226
Option [Member]
Exercised
Weighted average remaining contractual life			10 months 14 days
Unrecognized compensation cost of non-vested stock options			$ 1,381,839
Aggregate Intrinsic value			16,382,144
Stock based compensation expense			$ 338,331	895,226
Option [Member] | On February 11, 2019 [Member]
Warrants granted			730,000
Exercise price			$ 3.25
Stock per share price			$ 3.16
Volatility			77.86%
Risk free rate			2.52%
Expiry date			Feb. 11, 2020
Term			6 years
Fair market value			$ 1,569,816
Option [Member] | 2011 Equity Incentive Plan [Member]
Common stock shares reserved for future issuance			69,000
Weighted average remaining contractual life			3 years 8 months 23 days
Warrant One [Member]
Unrecognized compensation cost of unvested warrants			$ 14,885
Unrecognized compensation cost of unvested warrants period			1 year 9 months 18 days
Warrant [Member]
Proceeds from exercise of warrants			$ 6,660,000
Exercised			(2,478,613)
Weighted average remaining contractual life			6 months
Unrecognized compensation cost of non-vested warrants recognition period			10 months 14 days
Aggregate Intrinsic value			$ 960,949
Warrant expense			$ 2,127	$ 2,199
Warrant [Member] | Cotterford [Member]
Common stock shares reserved for future issuance		5,000,000
Reduction of exercise price of warrants description		The exercise price of such warrant from $3.00 per share to $2.90 per share through the close of business on March 8, 2019.
Common stock shares issued upon exercise of warrants	1,724,138
Proceeds from exercise of warrants	$ 5,000,000
Class of warrants or rights outstanding	3,275,862
Exercise price	$ 2.90
Other expenses	$ 196,957

Commitments and Contingencies_2

Commitments and Contingencies (Details) - Finance Lease Obligations [Member]	Mar. 31, 2019USD ($)
2019	$ 121,733
2020	114,584
2021	69,907
2022	61,762
2023	60,353
Greater than 5 years	505,433
Total	933,772
Less: Amount representing interest	(121,531)
Present value of minimum lease payments	$ 812,241

Commitments and Contingencies_3

Commitments and Contingencies (Details 1)	Mar. 31, 2019USD ($)
2019	$ 128,953
2020	13,708
Total Operating Lease Obligations	142,661
Operating Lease Right of Use Obligations [Member]
2019	37,536
2020	49,296
2021	14,835
Total Operating Lease Obligations	101,667
Less: Amount representing interest	(4,571)
Present value of minimum lease payments	$ 97,096

Commitments and Contingencies_4

Commitments and Contingencies (Details 2)	Mar. 31, 2019USD ($)
Disclosure Commitments And Contingencies Details 1Abstract
2019	$ 128,953
2020	13,708
Operating Lease Obligations	$ 142,661

Commitments and Contingencies_5

Commitments and Contingencies (Details 3)	Mar. 31, 2019USD ($)
Total Grants Repayable	$ 351,136
Grants Repayable [Member]
2019	39,272
2020	52,849
2021	49,939
2022	47,239
2023	48,408
2024 +	138,661
Total Grants Repayable	$ 376,368

Commitments and Contingencies_6

Commitments and Contingencies (Details 4)	Mar. 31, 2019USD ($)
Disclosure Commitments And Contingencies Details 3Abstract
2019	$ 373,355
2020	674,736
2021	604,290
2022	447,953
2023	233,898
Greater than 5 years	198,788
Total	2,533,020
Less: Amount representing interest	(268,039)
Total Long-Term Debt	$ 2,264,981

Commitments and Contingencies_7

Commitments and Contingencies (Details 5)	Mar. 31, 2019USD ($)
Disclosure Commitments And Contingencies Details 4Abstract
2019	$ 2,262,077
2020	992,463
2021	892,500
Total Collaborative Agreement Obligations	$ 4,147,040

Commitments and Contingencies_8

Commitments and Contingencies (Details Narrative) - 3 months ended Mar. 31, 2019	USD ($)	EUR (€)	EUR (€)
Total long-term debt payable	$ 2,264,981
Total Grants Repayable	351,136
Total Collaborative Agreement Obligations	$ 4,147,040
In 2017 [Member] | University of Michigan [Member] | Clinical Study Research Agreement [Member]
Lease agreement expire period	3 years	3 years
Collaborative obligations amount	$ 3,000,000
Collaborative obligations amount due	$ 1,500,000
In 2017 [Member] | Long-term Debt [Member] | Namur Innovation and Growth [Member]
Fixed interest rate on lease	4.00%		4.00%
In 2017 [Member] | Long-term Debt [Member] | SOFINEX [Member]
Fixed interest rate on lease	4.50%		4.50%
Draw down amount | €			€ 750,000
In 2017 [Member] | Long-term Debt [Member] | Namur Invest [Member]
Fixed interest rate on lease	4.00%		4.00%
In 2017 [Member] | Loan Agreement [Member] | Long-term Debt [Member] | Namur Innovation and Growth [Member]
Loan agreement term	4 years	4 years
Repayment of long-term loan amount | €		€ 500,000
Total long-term debt payable	$ 523,509
In 2017 [Member] | Loan Agreement [Member] | Long-term Debt [Member] | SOFINEX [Member]
Loan agreement term	7 years	7 years
Repayment of long-term loan amount | €		€ 1,000,000
Total long-term debt payable	$ 841,552
In 2017 [Member] | Loan Agreement [Member] | Long-term Debt [Member] | Namur Invest [Member]
Loan agreement term	4 years	4 years
Repayment of long-term loan amount | €		€ 350,000
Total long-term debt payable	$ 258,722
In 2016 [Member] | Munich University [Member] | Collaborative Research Agreement [Member]
Lease agreement expire period	3 years	3 years
Collaborative obligations amount | €			€ 360,000
Collaborative obligations amount due	$ 298,471
In 2016 [Member] | DKFZ [Member] | Research Co-operation Agreement [Member]
Lease agreement expire period	5 years	5 years
Collaborative obligations amount | €			€ 400,000
Collaborative obligations amount due	$ 224,414
In 2016 [Member] | Long-term Debt [Member] | ING [Member]
Fixed interest rate on lease	2.62%		2.62%
In 2016 [Member] | Long-term Debt [Member] | Namur Invest [Member]
Fixed interest rate on lease	4.85%		4.85%
In 2016 [Member] | Loan Agreement [Member] | Long-term Debt [Member] | ING [Member]
Loan agreement term	15 years	15 years
Repayment of long-term loan amount | €		€ 270,000
Total long-term debt payable	$ 265,523
In 2016 [Member] | Loan Agreement [Member] | Long-term Debt [Member] | Namur Invest [Member]
Loan agreement term	7 years	7 years
Repayment of long-term loan amount | €		€ 440,000
Total long-term debt payable	$ 375,675
In 2018 [Member] | Walloon Region Government [Member] | Colorectal Cancer Research Agreement [Member]
Amount payable	$ 199,748
Grant receivable | €			€ 605,000
Repayment of grants | €			181,500
Terms of agreement description	It is due to pay a 3.53% royalty on such revenue to the Walloon Region. The maximum amount payable to the Walloon Region, in respect of the aggregate of the amount repayable of 181,500 Euros and the 3.53% royalty on revenue, is equal to the amount of funding received	It is due to pay a 3.53% royalty on such revenue to the Walloon Region. The maximum amount payable to the Walloon Region, in respect of the aggregate of the amount repayable of 181,500 Euros and the 3.53% royalty on revenue, is equal to the amount of funding received
In 2018 [Member] | University of Taiwan [Member] | Clinical Study Research Agreement [Member]
Lease agreement expire period	3 years	3 years
Collaborative obligations amount	$ 2,550,000
Collaborative obligations amount due	2,040,000
In 2010 [Member] | Walloon Region Government [Member]
Amount payable	$ 176,620
Other income | €		€ 733,614
Grant receivable | €			1,050,000
Repayment of grants | €			314,406
Terms of agreement description	It is due to pay a 6% royalty on such revenue to the Walloon Region. The maximum amount payable to the Walloon Region, in respect of the aggregate of the amount repayable of 314,406 Euros and the 6% royalty on revenue, is twice the amount of funding received	It is due to pay a 6% royalty on such revenue to the Walloon Region. The maximum amount payable to the Walloon Region, in respect of the aggregate of the amount repayable of 314,406 Euros and the 6% royalty on revenue, is twice the amount of funding received
In 2015 [Member] | DKFZ [Member] | Research Sponsorship Agreement [Member]
Lease agreement expire period	3 years	3 years
Collaborative obligations amount | €			338,984
Collaborative obligations amount due	$ 84,155
Finance Lease Obligations [Member] | In 2015 [Member] | Automated Liquid Handling Robots [Member]
Purchase price for the property | €			550,454
Amount payable	$ 112,347
Finance Lease Obligations [Member] | BNP Paribas leasing solutions [Member] | In 2018 [Member]
Leased equipment amortized term	5 years	5 years
Finance Lease Obligations [Member] | BNP Paribas leasing solutions [Member] | In 2018 [Member]
Purchase price for the property | €			25,000
Amount payable	$ 26,107
Finance Lease Obligations [Member] | ING Asset Finance Belgium S.A. [Member] | In 2016 [Member]
Purchase price for the property | €			€ 1,120,000
Amount payable	$ 673,787
Operating Lease Right of Use Obligations [Member]
Weighted average discount rate	4.50%		4.50%
Weighted average remaining lease term	26 months		26 months
Operating lease right-of-use assets and liabilities	$ 97,096
Payment of lease liabilities	12,494
Operating lease expense	13,052
Short term lease costs	$ 45,264

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Subsequent Event [Member] - USD ($)	May 03, 2019	May 01, 2019	Apr. 30, 2019
Option granted to purchase shares			30,000
Cotterford Company Limited [Member] | Warrant [Member]
Exercise price	$ 3
Common stock shares issued upon exercise of warrants	1,666,667
Proceeds from exercise of warrants	$ 5,000,000
Class of warrants or rights outstanding	1,609,195
Research Collaboration Agreement [Member] | University of Taiwan [Member]
Amount payable		$ 320,000
Research collaboration agreement description		The Company entered into a research collaboration agreement with the University of Taiwan to collect a total of 1,200 samples for a 2-year period for a cost to the Company of $320,000 payable over such period.