Quarterly report pursuant to Section 13 or 15(d)


6 Months Ended
Jun. 30, 2015



The accompanying financial statements of Venaxis, Inc. (the "Company," "we," "our" or "Venaxis") have been prepared in accordance with the instructions to quarterly reports on Form 10-Q. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and changes in financial position at June 30, 2015 and for all periods presented have been made. Certain information and footnote data necessary for a fair presentation of financial position and results of operations in conformity with accounting principles generally accepted in the United States of America have been condensed or omitted. It is therefore suggested that these financial statements be read in conjunction with the summary of significant accounting policies and notes to financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014. The results of operations for the period ended June 30, 2015 are not necessarily an indication of operating results for the full year.


Management's plans and basis of presentation:


The Company has experienced recurring losses and negative cash flows from operations. At June 30, 2015, the Company had approximate balances of cash and liquid investments of $20,431,000, working capital of $19,636,000, total stockholders' equity of $20,246,000 and an accumulated deficit of $101,044,000. To date, the Company has in large part relied on equity financing to fund its operations.  The Company expects to continue to incur losses from operations for the near-term and these losses could be significant as product development, regulatory activities, contract consulting and other commercial and product development related expenses are incurred. The Company believes that its current working capital position will be sufficient to meet its estimated cash needs for the remainder of 2015 and into 2016. The Company continues to explore obtaining additional financing.  The Company is closely monitoring its cash balances, cash needs and expense levels.


Management's strategic plans include the following:


evaluating regulatory options for U.S. commercialization of the Company's principal product, the APPY1 Test;

evaluating commercial options for the APPY1 Test in markets outside of the U.S.;

pursuing additional capital raising opportunities;

continuing to explore prospective partnering or licensing opportunities with complementary opportunities and technologies;

continuing to monitor and implement cost control initiatives to conserve cash;

continuing to assess and develop the next generation product, "APPY2"; and

exploring other possible strategic options available to the Company.