Quorum X Diagnostics

Neutral
BETA

Rapid at-home test for COVID antigen Test

Analytics

Raised to Date: $119,661

Aggregate Commitments $
Platform

Wefunder

Start Date

05/29/2020

Close Date

12/05/2020

Min. Goal

$50,000

Max. Goal

$250,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Pre-Seed

Valuation Cap

$2,750,000

Discount Rate

25%

Weekly Commitments $
Status

Active

Reporting Date

10/28/2020

Days Remaining

36

% of Min. Goal

239%

% of Max. Goal

48%

Likelihood of Max
Avg. Daily Raise

$787

# of Investors

285

Momentum
Location

Tucker, GA

Industry

Healthcare & Pharmaceuticals

Tech Sector

Biotech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Business Type

Growth

Quorum X Diagnostics, with a $3 million valuation cap, is raising crowdfunding on Wefunder. The company is developing 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 was founded by Maria Nagy and Dr. Angel A. Rivera in 2017 and has raised over $66,000 since its founding. The current round of crowdfunding has a minimum raise of $50,000 and a maximum raise of $250,000, and the funds will be used for manufacturing, testing patient samples, hiring nurses, FDA application, and app development. Quorum X Diagnostics is filling an opportunity gap in the market and catering to the global need of a quick test for COVID.

Summary Profit and Loss Statement
Most Recent Year Prior Year

Revenue

$0

$0

COGS

$0

$0

Tax

$415

$415

 

 

Net Income

$-34,500

$-22,200

Summary Balance Sheet
Most Recent Year Prior Year

Cash

$0

$0

Accounts Receivable

$0

$0

Total Assets

$500

$500

Short-Term Debt

$35,000

$22,700

Long-Term Debt

$0

$0

Total Liabilities

$35,000

$22,700

Ratings

last updated 10/29/2020

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