20/20 GeneSystems

Diagnostic Testing for COVID-19 & Cancer

Analytics

Raised to Date: Raised: $186,253

Aggregate Commitments $

Platform

StartEngine

Start Date

08/16/2022

Close Date

12/15/2022

Min. Goal

$9,995

Max. Goal

$4,999,995

Min. Investment

$500

Security Type

Convertible Note

Funding Type

RegCF

Series

Series A

Valuation Cap

$58,400,000

Discount Rate

10%

Rolling Commitments $

Status

Active

Reporting Date

11/30/2022

Days Remaining

15

% of Min. Goal

1,863%

% of Max. Goal

4%

Likelihood of Max
unlikely
Avg. Daily Raise

$1,757

# of Investors

142

Momentum
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Location

Rockville, Maryland

Industry

Healthcare & Pharmaceuticals

Tech Sector

HealthTech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

High

Business Type

Growth

20/20 GeneSystems, with a valuation of $58.4 million, is raising funds on StartEngine. It is a diagnostics company with a successful track record in cancer detection with its AI-powered multi-cancer blood test, OneTest. The company has also launched CoronaCheck, its FDA-authorized antibody lab test for COVID-19 antibodies. The business reported revenues of $9 million in 2021, a 300% increase over 2020 revenues. Jonathan Cohen founded 20/20 GeneSystems in 2000. The current crowdfunding campaign has a minimum target of $9,995.40 and a maximum target of $4,999,995. The campaign proceeds will be used to expand the portfolio of tests and grow revenues.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$9,622,332

$2,330,528

COGS

$4,927,374

$1,453,354

Tax

$0

$0

 

 

Net Income

$2,071,777

$-2,021,826

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$3,354,469

$3,468,192

Accounts Receivable

$4,215,465

$205,071

Total Assets

$10,272,281

$4,677,734

Short-Term Debt

$0

$103,860

Long-Term Debt

$0

$40,247

Total Liabilities

$0

$144,107

Financials as of: 08/16/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
20/20 GeneSystems 12/15/2022 StartEngine $58,400,000 $186,253 Convertible Note Active RegCF
20/20 GeneSystems 06/27/2021 StartEngine $38,500,000 $2,903,017 Equity - Preferred Funded RegA+
20/20 GeneSystems 11/01/2020 SeedInvest $38,500,000 $3,792,229 Equity - Preferred Funded RegA+
20/20 GeneSystems 12/14/2017 Microventures $23,000,000 $1,064,807 Equity - Preferred Funded RegCF
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Ratings KingsCrowd Startup Rating Methodology Article

Analyst Report Analyst Report Methodology Article

20/20 GeneSystems offers an affordable blood test that screens for multiple types of cancer. It also has access to the medical records of more than 200,000 patients with known cancer outcomes. Its testing technology and machine learning algorithms are innovative — but it’s not clear if there’s enough market demand for its product.

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20/20 GeneSystems on StartEngine 2022
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Platform: StartEngine
Security Type: Convertible Note
Valuation: $58,400,000
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