Question 1

What type of cartridges have you planned for? How will you make sure their efficacy is monetizable?

Accepted Answer

Thanks for your question. We have planned for cartridges in the cardiology, hematology, OB/GYN, infectious disease, Drugs of Abuse, and oncology space. iAssay onboards by adapting cartridges cleared through regulatory, manufactured, and marketed by companies and distributors who are already in market, and already selling, so market size and profitability for those cartridges is already known. Since the COVID-19 Pandemic has started, we are very focused on COVID-19 antibody and antigen tests.

Question 2

I am a physician. What specific tests are available? Are these HIPPA WAIVED?

Accepted Answer

Thanks for this question. To clarify, I think you mean CLIA Waived. For the benefit of anyone else reading, CLIA waived tests are tests that anybody is authorized to run. For example a drugstore pregnancy test is CLIA waived. Urine drugs of abuse tests for our intended markets do not require FDA Clearance, so anybody can run those tests. Currently COVID-19 tests are not CLIA waived. The SimpleTest system is 100% HIPAA compliant. The SimpleTest unit never has patients’ personal information on ...

Question 3

Show the product, where are you at with development, production, etc.

Accepted Answer

The CyberReader Model 2030 works well for test strips, is connected to our SimpleCloud to store test results and allow review. It is ready to support Drugs of Abuse and COVID-19. We have already manufactured units, and we are ready to ramp up with orders. Much of the the SimpleTest 2 engineering is complete, and we are counting on the fundraise here on WeFunder to complete the design, testing, and product launch.

Question 4

What Tests does it test for !!!

Accepted Answer

Appreciate the question. We have planned for cartridges in the cardiology, hematology, OB/GYN, infectious disease, Drugs of Abuse, and oncology space. Since the COVID-19 Pandemic has started, we are very focused on COVID-19 antibody and antigen tests.

Question 5

Hi. I have a few questions: -How much will the reader and strips cost? -What are your revenue goals for the next 5 years? -Can it do blood and urine tests like a regular physical exam? That would eliminate the need for doctor visits for that purpose... -Will the tests be able ...

Accepted Answer

-How much will the reader and strips cost? There is no charge for the SimpleTest reader itself. We place the unit with a customer, and then we charge $1 per test performed. We do not produce the strip tests ourselves, our universal reader is able to read a wide array of 3rd party strips. The cost of those strips vary from $1 to over $20. -What are your revenue goals for the next 5 years? Knowing what revenues will be in 5 years is nearly impossible to predict—the range would be so big as to b...

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