20/20 GeneSystems

Neutral
BETA

Artificial intelligence-powered diagnostics for cancer & COVID-19

Analytics

Raised to Date: $3,413,917

Aggregate Commitments $
Platform

SeedInvest

Start Date

07/08/2020

Close Date

12/31/2020

Min. Goal

$10

Max. Goal

$14,700,000

Min. Investment

$502

Security Type

Equity - Preferred

Funding Type

RegA+

Valuation

$38,500,000

Weekly Commitments $
Status

Active

Reporting Date

10/28/2020

Days Remaining

62

% of Min. Goal

34,139,170%

% of Max. Goal

23%

Likelihood of Max
Avg. Daily Raise

$30,481

# of Investors

1,440

Momentum
Location
Industry

Healthcare & Pharmaceuticals

Tech Sector

20/20 GeneSystems, with a pre-money valuation of $38.5 million, is raising funds on SeedInvest 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 and has raised over $10 million in previous rounds of financing. The current round of funding has 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 generated over $1.2 million in revenue.

Balance Sheet

Cash and Cash Equivalents

$636,018

Investment Securities

$1,647,806

Total Investments

$0

Accounts and Notes Receivable

$32,498

Loans

$0

Property, Plant and Equipment (PP&E)

$48,924

Property and Equipment

$0

Total Assets

$3,125,886

Accounts Payable & Accrued Liabilities

$898,785

Policy Liabilities and Accruals

$0

Deposits

$0

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

Total Interest Income

$0

Costs & Expenses Applicable to Rev

$263,917

Total Interest Expenses

$0

Depreciation and Amortization

$23,550

Net Income

$-2,425,338

Earnings Per Share - Basic

$-1

Earnings Per Share - Diluted

$-1

Auditor: Dbbmckennon
Summary of Crowdfunding Raises
Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
12/31/2020 SeedInvest $38,500,000 $3,413,917 Equity - Preferred Active RegA+
12/14/2017 Microventures $0 $1,064,807 Equity - Preferred Confirmed Closed RegCF
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