20/20 GeneSystems

20/20 GeneSystems

Growth Stage

Diagnostic Testing for COVID-19 & Cancer

Overview

Raised this Round: Raised: $2,903,017

Total Commitments ($USD)

Platform

StartEngine

Start Date

01/07/2020

Close Date

06/27/2021

Min. Goal
$502
Max. Goal
$14,700,000
Min. Investment

$502

Security Type

Equity - Preferred

Series

Series A

SEC Filing Type

RegA+    Open SEC Filing

Price Per Share

$4.40

Pre-Money Valuation

$38,500,000

Year Founded

2000

Industry

Healthcare & Pharmaceuticals

Tech Sector

HealthTech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

High

Location

Rockville, Maryland

Business Type

Growth

20/20 GeneSystems, with a pre-money valuation of $38.5 million, is raising funds on StartEngine through Reg A+ crowdfunding. 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 recently launched CoronaCheck, its FDA authorized antibody lab test for COVID-19 antibodies. 20/20 GeneSystems was founded by Jonathan Cohen in 2000. The current round of funding has a round size of $14,700,000, and the proceeds will be used for sales and marketing, research and development, intellectual property development and protection, and cybersecurity and patient privacy protections. 20/20 GeneSystems has already sold over 70,000 COVID-19 antibody tests since its launch in March 2020, and year-over-year revenues have grown by over 600%.

Balance Sheet

Cash and Cash Equivalents

$636,018

Investment Securities

$1,647,806

Accounts and Notes Receivable

$32,498

Property, Plant and Equipment (PP&E)

$48,924

Total Assets

$3,125,886

Accounts Payable & Accrued Liabilities

$898,785

Long Term Debt

$0

Total Liabilities

$976,560

Total Stockholders' Equity

$2,149,326

Total Liabilities and Equity

$3,125,886

Statement of Comprehensive Income Information

Total Revenues

$288,300

Costs & Expenses Applicable to Rev

$263,917

Depreciation and Amortization

$23,550

Net Income

$-2,425,338

Earnings Per Share - Basic

$-0.51

Earnings Per Share - Diluted

$-0.51

Auditor: Dbbmckennon
Financials as of: 01/07/2020
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
20/20 GeneSystems 09/03/2024 Wefunder $69,859,000 $135,169 Equity - Preferred Active RegCF
20/20 GeneSystems 12/20/2022 StartEngine $58,400,000 $232,704 Convertible Note Funded RegCF
20/20 GeneSystems 06/26/2021 StartEngine $38,500,000 $2,903,017 Equity - Preferred Funded RegA+
20/20 GeneSystems 10/31/2020 SeedInvest $38,500,000 $3,792,229 Equity - Preferred Funded RegA+
20/20 GeneSystems 12/13/2017 Microventures $23,000,000 $1,064,807 Equity - Preferred Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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20/20 GeneSystems on StartEngine
Platform: StartEngine
Security Type: Equity - Preferred
Valuation: $38,500,000
Price per Share: $4.40

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