Second Quarter 2022 Report
July 21, 2022
Fast Company Honors our Accelerator as a "World Changing Idea" for 2022
20/20's Clinical Lab Innovation Axcellerator (CLIAx), received an honorable mention in Fast Company’s 2022 World Changing Ideas Awards in the Health category. The category "honors medical innovations that save lives, extend longevity, or increase access to care." About 60 companies joined 20/20 as Health category honorees on this year’s coveted Fast Company’s list including Johnson & Johnson, Bose, Abbott, 3M and Colgate-Palmolive. A panel of eminent Fast Company editors and reporters selected winners, finalists and honorees from a pool of 3,000 entries across transportation, education, food, politics, technology, health, social justice, and more.

Believed to be the first shared CLIA lab designed to help diagnostics start-ups more rapidly enter the U.S. market, CLIAx offers nearly 3,000 square feet of ready-to-use communal clinical laboratory space and testing equipment. Additionally, 20/20’s marketing and sales teams help promote the new tests introduced by CLIAx’s clients to the market segments in which 20/20 is currently active.

To celebrate this milestone a Ribbon Cutting ceremony was held at our facility on June 2 featuring local dignitaries including the Montgomery County Executive and County Council President. A two-minute video clip of this event may be viewed here.

Partnerships to Advance Lab Tests for Cardiovascular Health
According to the CDC, heart disease is the leading cause of death in America. 20/20 is working to advance several lab tests that help reduce mortality from sudden heart attacks, strokes, and cardiac arrest. At our June 2 CLIAx Ribbon Cutting we signed a marketing and distribution agreement with OpenDNA of Israel which is developing genomic analysis tools to assess risk of hypertension and other cardio-metabolic ailments.

Earlier in the year we entered a data access agreement with IBM Watson Health (now known as "Merative") which we are using in an effort to develop blood tests to help predict near term cardiac incidents.
Semi-Annual Revenues Top $8 million, more than 4-fold increase Over Same Period Last Year
For the 6-month period ending in June 20/20's revenue exceeded $8 million (unaudited) for all products compared to $1.8 million during the first half of last year. Coronavirus associated testing continues to account for the bulk of these revenues, the majority of which stemmed from a Maryland K-12 school Covid testing contract. As of this writing it is unknown whether the State of Maryland will renew this contract for the next school year.
OneTest Ad Campaign to Appear in Prevention Magazine
In June we signed an agreement with Prevention magazine for an advertising campaign during the fall for our multi-cancer early detection blood test. Over 3 million health enthusiasts read either the digital or print versions of this publication each month.
New Retail Clinics and Mobile Phlebotomy Available to OneTest Customers
The company recently entered two transactions that are expected to significantly expand access to our cancer tests across the country. Based on an agreement entered with AnyLabTestNow consumers will be able to obtain their blood draw at one of over 200 retail locations nationwide in addition to the 175 urgent care centers that currently provide our customers with phlebotomy services.

In June we entered an agreement with Scarlet Healthcare, a division of Opko's BioReference Laboratories, to make available to our customers over 1,000 mobile phlebotomists nationwide. Consumers of our tests can now have their blood specimens collected at their home, workplace, or other convenient location.
equity crowdfunding concept isolated on black background
New Crowdfunding Campaign Launching on Start Engine
We are pleased to announce that 20/20 will soon initiate its first new financing campaign in over one year on the StartEngine platform. 20/20 is believed to be one of the first life science company in America to successfully raise over $10 million through equity crowdfunding and we look forward to offering additional securities to our existing shareholders while welcoming new investors as well. All investors in this round can receive substantial discounts on current and future lab tests offered by our company.

Please be on the lookout for further announcements on this round over the coming weeks.
NO MONEY OR OTHER CONSIDERATION IS BEING SOLICITED, AND IF SENT IN RESPONSE, WILL NOT BE ACCEPTED. NO OFFER TO BUY THE SECURITIES CAN BE ACCEPTED AND NO PART OF THE PURCHASE PRICE CAN BE RECEIVED UNTIL THE OFFERING STATEMENT IS FILED AND ONLY THROUGH AN INTERMEDIARY PLATFORM. AN INDICATION OF INTEREST INVOLVES NO OBLIGATION OR COMMITMENT OF ANY KIND. "RESERVING" SHARES IS SIMPLY AN INDICATION OF INTEREST
You should read the Form C and Risks related to this offering before investing. This Reg CF offering will be made available through StartEngine Primary, LLC, member FINRA/SPIC. This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment.


 

Our previous Quarterly Reports and Press Releases may be downloaded here:
Financial Reports
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Forward Looking Statements
This quarterly report to shareholders contains statements that do not relate to historical facts but are “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can generally (although not always) be identified by their use of terms and phrases such as anticipate, appear, believe, continue, could, estimate, expect, indicate, intend, may, plan, possible, predict, project, pursue, will, would and other similar terms and phrases, as well as the use of the future tense. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of the business of the Company, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control, including the risks described in our offering statements and reports under the heading “Risk Factors” as filed with the SEC. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements in this quarterly report to shareholders speak only as of the date hereof. Unless otherwise required by law, we undertake no obligation to publicly update or revise these forward-looking statements, whether because of new information, future events or otherwise.