Quorum X Diagnostics

Quorum X Diagnostics

Early Stage

Rapid at-home test for COVID antigen Test

Rapid at-home test for COVID antigen Test

Overview

Raised to Date: Raised: $0

Total Commitments ($USD)

Platform

Wefunder

Start Date

02/14/2022

Close Date

04/30/2022

Min. Goal
$50,000
Max. Goal
$387,278
Min. Investment

$250

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$25,000,000

Discount

20%

Rolling Commitments ($USD)

Status
Not Funded
Reporting Date

04/30/2022

Days Remaining
Not Funded
% of Min. Goal
Not Funded
% of Max. Goal
Not Funded
Likelihood of Max
Not Funded
Avg. Daily Raise

$0

Momentum
Not Funded
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Year Founded

2017

Industry

Healthcare & Pharmaceuticals

Tech Sector

Biotech

Distribution Model

B2C

Margin

Medium

Capital Intensity

High

Location

Tucker, Georgia

Business Type

Growth

Company Website

Quorum X Diagnostics, with a valuation of $25 million, is raising funds on Wefunder. The company has developed a take-home lateral flow test to detect CoV-2 during the incubation period. The test will allow the detection of COVID even before the onset of symptoms. The company has already used the same technology to build QXD-1 Fast Test for Pseudomonal Pneumonia Prototype. Quorum X Diagnostics has tested over 350 patient samples and has an anticipated market demand of 60-90 million tests weekly. Maria Nagy and Dr. Angel A. Rivera founded Quorum X Diagnostics in 2017. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $387,278. The campaign proceeds will be used to complete the manufacturing of the first 20,000 COVIDNOW kits, develop the phone app, and implement AI technology upgrades.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-203,836

$-42,284

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$109,565

$1

Accounts Receivable

$0

$0

Total Assets

$180,540

$4,700

Short-Term Debt

$138,558

$20,826

Long-Term Debt

$75,728

$40,064

Total Liabilities

$214,286

$60,890
Financials as of: 02/14/2022
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Quorum X Diagnostics 04/29/2022 Wefunder $25,000,000 $0 SAFE Not Funded RegCF
Quorum X Diagnostics 12/03/2020 Wefunder $2,750,000 $206,921 SAFE Funded RegCF
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Price per Share History

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

Valuation History

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.

Employee History

Funding data not publicly available

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Quorum X Diagnostics on Wefunder 2022
Platform: Wefunder
Security Type: SAFE
Valuation: $25,000,000

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