Jonnyboy85 wrote: The Company also achieved the following during the third quarter:
-Revenue increased more than four times the revenue of fiscal year 2019;
-Received approximately US$1.5 million in cash which significantly exceeds projected operating costs of $900,000 per quarter;
-Signed multiple new partners. These include a county in a US State affected by COVID-19, healthcare groups, and several travel groups with exposure to airlines;
-Granted preferred lab status by the Government of Barbados to conduct COVID-19 testing for tourists travelling by air into the country;
-Working with Ichor to process tests for players in the IIHF World Junior Championships;
-Extended agreements until year end with a number of partners;
-Expanded testing options with nasal swabs and saliva tests as well as the respiratory panel (the respiratory panel will cost US$725 per test);
-Hired additional staff and purchased equipment, test reagents, and consumable materials (for COVID-19 Tests and Aristotle®); and
-Expanded laboratory footprint and automation in preparation for Aristotle® introduction.
Jonnyboy85 wrote: During the first six weeks of COVID-19 testing, StageZero performed approximately
5,000 COVID-19 Tests. To the end of October, StageZero had performed approximately
13,000 COVID-19 Tests. The initial orders StageZero entered into for COVID-19 testing was with five (5) client groups; it is now performing tests for approximately fifty
(50) client groups and adding more. New groups are being added on an ongoing basis. StageZero anticipates increasing demand for testing over the next several months and through the winter
as planned COVID-19 testing commences according to the timetables set by these client groups. The projected growth in COVID-19 testing is occurring and is on pace with StageZero’s expectations with significant growth anticipated on a quarter over quarter basis in order to meet the projected revenue. Testing revenue is therefore expected to show
significant increases over consecutive quarters for the next three (3) to four (4) quarters. Jonnyboy85 wrote: (currently, StageZero has testing supplies and inputs available to process approximately
30,000 COVID-19 Tests)
Jonnyboy85 wrote: The Company has received interest from the City of Alpharetta, Georgia, United States, Phlebfinders and UDoTest, among others, to have the Company provide COVID-19 Tests to their respective workforces, clients and residents. In addition, the Company is providing testing for the employees and court system of a large county in the United States, an airline, Ichor Blood Services Inc. (“Ichor”), a film company, urgent care centres, a global visa and travel group as well as a number of other groups
"The Company plans on introducing Aristotle® to the market by Q1 2021."
"As of October 2020, the Company’s testing capacity is in excess of 1,000 tests per day (comprising all types of COVID-19 Tests) and is trending towards 3,000 tests per day."