First Quarter 2021 Report
April 23, 2021
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20/20 Establishing Country's 1st Accelerator for Innovative Laboratory Developed Tests
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Last month we signed a 7-year lease for new, expanded office and laboratory space in Gaithersburg, Maryland that is expected to be ready for occupancy in September. Included in this new space will be approx. 3,000 sq. feet of shared clinical laboratory space for start-ups and overseas companies seeking to introduce their novel lab tests into the U.S. market. "The Clinical Lab Innovation Axcellerator (CLIAx)" is believed to be the first such facility to provide access to shared testing equipment and personnel that comply with federal and state regulations under the Clinical Laboratory Improvement Amendments (CLIA). Setting up, staffing, and maintaining a compliant CLIA lab can be daunting for young companies as it involves facility leasing, hiring qualified laboratory management and personnel, and purchasing analyzers and other testing equipment.
20/20 will target companies with tests that address the same market as our OneTest, namely occupational heath, wellness and early detection, and seek U.S. marketing rights to these tests. Thus, in addition to lowering our overhead expenses CLIAx is expected to be a platform to permit 20/20 to grow its product pipeline without incurring substantial R&D expenditures and risks.
For more about information about CLIAx download this brochure
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1st Quarter Revenues Approach $1 million; Over 600% Growth from Last Year
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For the 3 month period ending in March, 20/20's revenue exceeded $950,000 (unaudited) for all products compared to $128,000 during Q'1 last year. Coronavirus associated testing accounted for more than 80% of these revenues, largely as Montgomery County Maryland shifted testing to our lab because of faster turnaround. We anticipate substantial declines in covid-19 testing as "herd immunity" is reached, likely by the second half of this year. However, we expect significant growth in cancer test revenues this year targeting a 300% increase over last year in the range of $450,000 to $500,000.
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20/20 Raising Additional $1.5M on StartEngine
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Since the beginning of March we have raised over $750,000 on StartEngine bringing the total amounts raised through this and other equity crowdfunding platforms to over $10 million. Our plan is to complete the current round when the amount raised on StartEngine exceeds $1.5 million. If you would like to make another investment in 20/20 you may do so by visiting this site.
We continue to explore the possibility of listing our shares on StartEngine Secondary giving interested shareholders an opportunity to trade their shares. This new alternative trading system (ATS) is regulated by the SEC and operated by StartEngine Primary, LLC, a broker dealer registered with the SEC and FINRA. Listing on StartEngine Secondary would permit our shareholders to buy or sell 20/20 stock with certain restrictions. Please be on the lookout for future announcements about StartEngine Secondary
Please Note: 20/20 reserves the right to forgo listing on the ATS due to (a) changes in its commercial trajectory as a result of, without limitation, its own commercial progress, that of its competitors, or changes to regulatory or economic conditions, (b) the performance of the ATS with regard to other issuers, or (c) an imminent listing on a national stock exchange such as NASDAQ. Investors should not invest in this Offering with the expectation that near term liquidity through StartEngine Secondary or other means will be available.
You should read the Offering Circular and Risks related to this offering before investing. This Reg A+ offering is made available through StartEngine Primary, LLC, member FINRA/SPIC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.
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Our previous Quarterly Reports and Press Releases may be downloaded here:
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In order to maintain our Reg. A+ Qualification we are required to file Annual and Semiannual Reports with the U.S. Securities & Exchange Commission (SEC) that include Financial Statements (the Annual Statement must be audited). Those reports may be accessed by entering "20/20 GeneSystems, Inc." at https://www.sec.gov/edgar/searchedgar/companysearch.html or by contacting investors@2020gene.com
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Regulation A Offering and Forward Looking Statements
20/20 GeneSystems is offering securities through the use of an Offering Statement that has been qualified by the Securities and Exchange Commission under Tier II of Regulation A. A copy of the Final Offering Circular that forms a part of the Offering Statement may be obtained from: https://www.sec.gov/edgar/searchedgar/companysearch.html
A QUALIFIED OFFERING ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT.
THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD-LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.
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Tel. 240-453-6339
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