4th Quarter 2021 Report
Jan. 21, 2022
2021 Revenues Top $8 million Generating Company's First Yearly Profits
For the 3-month period ending in December 2021, our revenue exceeded $4 million (unaudited). Total revenue for the year 2021 exceeded $8.3 million compared to $2.3 million the prior year. Annual net profit exceeded $1 million, the first profitable year for the company, compared to last year's net loss of over $2 million.

Covid-19 PCR testing accounted for over 90% of these revenues, largely from contracts with the Health Departments of Montgomery County and the State of Maryland. The company anticipates significant revenue declines later in the year as demand for Covid PCR testing subsides. While sources for alternative lab test revenues are being pursued, the success and time required for these alternatives cannot be predicted at this time.

Note: the above revenue and profit calculations have not yet been audited and may be modified following the audit.
PCR Testing Lab Doubles Capacity in Response to Omicron Variant
Beginning in late November we experienced a dramatic spike in demand for Covid PCR testing as illustrated in the line graph to the left. Our CLIA lab commenced 24/7 operations and doubled its testing capacity with the acquisition of additional space, testing equipment, and personnel to accommodate 3,500 specimens per day. Most of our samples came from K-12 schools in Maryland and testing sites operated by the Montgomery County Health Department.
OneTest for Cancer Now Accessible at over 75 Retail Clinics Nationwide; Telemedicine Consultation Available
To increase access to our cancer screening blood test we have entered blood collection agreements with over 75 urgent care centers and other retail clinics located in more than a dozen states. (We anticipate having over 300 such centers available by the 3rd Quarter of 2022.) Consumers can now order OneTest online and have the option of visiting a retail clinic near their home to have their blood drawn. Together with access to a telemedicine firm we recently engaged we now offer an alternative way to obtain this test beyond scheduling an appointment with the consumer's primary care physician. Test volume is expected to rise significantly as a result of these new arrangements.
20/20 Moves to New, Larger Gaithersburg, Maryland Facility
This month we moved to a new, larger facility in Gaithersburg, Maryland. In order to help 20/20 rapidly expand its test menu we designed our suite to permit diagnostics start-ups from around the world to share certain equipment and facilities. (see www.CLIAXLABS.com). The first tenant of the new Clinical Lab Innovation Axcellerator (CLIAx) is Australian-based Minomic International Ltd, a diagnostics firm that is gearing up to introduce MiCheck® Prostate, a blood test that uses proprietary algorithms and biomarkers to estimate the risk of aggressive prostate cancer.

A press release announcing the launch of CLIAx and the Minomic agreement may be viewed here.

CLIAx is believed to be the first shared lab facility providing access to testing equipment and personnel that comply with federal and state regulations under the Clinical Laboratory Improvement Amendments (CLIA). A CLIAx promotional video may be viewed here and the brochure may be downloaded here. 
 
20/20 is targeting companies with tests that address a similar or complementary market to our OneTest, namely early detection and wellness, and is seeking U.S. marketing rights to these tests. Thus, in addition to effectively managing our overhead expenses CLIAx is expected to be a platform to permit 20/20 to grow its product pipeline while maintaining low to nominal R&D expenditures and risks.


Conceptual hand writing showing Annual Meeting. Business photo showcasing Yearly gathering of an organization interested shareholders
Annual Shareholders Meeting -- March 10
20/20 will hold its Annual Meeting of its shareholders on Thursday March 10 at 6:00 p.m. ET. Shareholders should expect to receive formal notice of this meeting as well as proxy instructions in early February. The meeting will be virtual but we anticipate inviting a limited number of shareholders based in the Washington, D.C. area to attend in person at our new facility located at 15810 Gaither Drive, Gaithersburg, Maryland.

Our previous Quarterly Reports and Press Releases may be downloaded here:
Financial Reports
In order to maintain our Reg. A+ Qualification we are required to file Annual and Semiannual Reports with the U.S. Securities & Exchange Commission (SEC) that include Financial Statements (the Annual Statement must be audited). Those reports may be accessed by entering "20/20 GeneSystems, Inc." at https://www.sec.gov/edgar/searchedgar/companysearch.html or by contacting investors@2020gene.com
Regulation A Offering and Forward Looking Statements
20/20 GeneSystems is offering securities through the use of an Offering Statement that has been qualified by the Securities and Exchange Commission under Tier II of Regulation A. A copy of the Final Offering Circular that forms a part of the Offering Statement may be obtained from: https://www.sec.gov/edgar/searchedgar/companysearch.html
A QUALIFIED OFFERING ONLY MEANS THAT THE COMPANY MAY MAKE SALES OF THE SECURITIES DESCRIBED BY THE OFFERING STATEMENT. IT DOES NOT MEAN THAT THE SEC HAS APPROVED, PASSED UPON THE MERITS OR PASSED UPON THE ACCURACY OR COMPLETENESS OF THE INFORMATION IN THE OFFERING STATEMENT.
THE OFFERING MATERIALS MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO, AMONG OTHER THINGS, THE COMPANY, ITS BUSINESS PLAN AND STRATEGY, AND ITS INDUSTRY. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON THE BELIEFS OF, ASSUMPTIONS MADE BY, AND INFORMATION CURRENTLY AVAILABLE TO THE COMPANY’S MANAGEMENT. WHEN USED IN THE OFFERING MATERIALS, THE WORDS “ESTIMATE,” “PROJECT,” “BELIEVE,” “ANTICIPATE,” “INTEND,” “EXPECT” AND SIMILAR EXPRESSIONS ARE INTENDED TO IDENTIFY FORWARD-LOOKING STATEMENTS, WHICH CONSTITUTE FORWARD-LOOKING STATEMENTS. THESE STATEMENTS REFLECT MANAGEMENT’S CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE THE COMPANY’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS. INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE ON THESE FORWARD-LOOKING STATEMENTS, WHICH SPEAK ONLY AS OF THE DATE ON WHICH THEY ARE MADE. THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO REVISE OR UPDATE THESE FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER SUCH DATE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.