Vox Royalty (US:VOXR)2022-11-15 12:32Revenue Growth - Total revenue for the nine months ended September 30, 2022, was $6,403,347, representing an increase of 108.5% compared to $3,077,503 for the same period in 2021[6] - Royalty revenue for the three months ended September 30, 2022, was $3,181,574, up 160.2% from $1,223,493 in the same quarter of 2021[6] - The company generated $2,297,881 in revenue from Australia for the three months ended September 30, 2022, compared to $1,204,530 in the same period of 2021, reflecting an increase of 90.9%[82] Profit and Loss - Gross profit for the nine months ended September 30, 2022, was $5,072,178, compared to $2,479,469 for the same period in 2021, reflecting a growth of 104.0%[6] - The company reported a net income of $276,117 for the nine months ended September 30, 2022, compared to a net loss of $1,738,671 for the same period in 2021[6] - Operating expenses for the nine months ended September 30, 2022, totaled $4,611,882, compared to $4,218,140 for the same period in 2021, an increase of 9.3%[6] Assets and Equity - Total assets increased to $41,439,314 as of September 30, 2022, from $27,305,421 as of December 31, 2021, marking a growth of 51.9%[4] - Total equity rose to $35,098,110 as of September 30, 2022, compared to $20,709,675 at the end of 2021, an increase of 69.5%[4] Cash Flow - Cash and cash equivalents decreased to $3,655,305 as of September 30, 2022, from $5,064,802 as of December 31, 2021, a decline of 28.0%[4] - Net cash flows from operating activities for the period were $966,106, a decrease from $1,346,103 in the previous period[13] - Cash flows from investing activities showed a net outflow of $1,376,402, compared to an outflow of $1,021,553 in the prior period[13] - The company reported cash flows from financing activities resulting in a net outflow of $268,351, down from an outflow of $1,040,785 in the previous period[13] - The company reported a cash inflow of $2,074,157 in cash and cash equivalents during the period, contrasting with a cash outflow of $716,235 in the previous period[13] Shareholder Information - The company declared dividends amounting to $445,940 during the nine months ended September 30, 2022[8] - The company declared a quarterly dividend of $0.01 per common share, totaling $445,940 paid on November 4, 2022[52] - The company declared a quarterly dividend of $0.01 per common share, payable on January 13, 2023, to shareholders of record as of December 30, 2022[101] Royalty and Acquisitions - Approximately 80% of the company's royalty and streaming assets are located in Australia, Canada, and the United States[16] - The company is focusing on acquiring royalties on producing or near-term producing assets to enhance its portfolio[16] - The total cost of royalties as of September 30, 2022, was $32,655,048, with significant contributions from various projects in Australia and the USA[30] - Total royalty, stream, and other interests increased to $32,655,048 as of September 30, 2022, compared to $17,625,689 in the previous year, representing an increase of 85.1%[33] - The company completed the acquisition of the Limpopo royalty portfolio for an upfront consideration of $1,139,628, settled by issuing 409,500 common shares[34] - Vox Royalty Corp. recorded a total upfront consideration of $15,703,991 for the Wonmunna royalty acquisition, with royalty revenues earned of $1,208,917 from April 1, 2022, to May 25, 2022[37] - The company issued 4,350,000 common shares for the Wonmunna royalty purchase, valued at $10,470,905[50] Liabilities and Contingencies - The company recorded a liability of $161,997 for the first contingent milestone payment on the Koolyanobbing royalty, due upon achieving specific cumulative tonnage[43] - The company’s total accounts payable and accrued liabilities increased to $1,643,310 as of September 30, 2022, compared to $1,129,807 at December 31, 2021[47] - The company has additional cash payments of up to C$8,900,000 contingent on achieving production milestones at Limpopo, which have not yet been recorded[35] - The company has milestone payments related to royalty acquisitions totaling $12,127,011, with significant amounts including $6,493,033 for Limpopo and $1,943,970 for Janet Ivy[78] Stock Options and Employee Benefits - The Company granted 804,158 stock options during the nine months ended September 30, 2022, with a grant date share price of $3.09 and an expected stock price volatility of 35%[59] - As of September 30, 2022, the total number of outstanding stock options increased to 1,603,984, with a weighted average exercise price of C$3.71[58] - The Company incurred short-term employee benefits of $1,513,324 for the nine months ended September 30, 2022, compared to $1,307,084 in the same period of 2021[76] Taxation - The company reported a current tax expense of $287,703 for the nine months ended September 30, 2022, with a total income tax expense of $1,434,059 for the same period[84]