Eclipse Diagnostics
Grower-friendly cannabis test
Regulation Crowdfunding
Los Angeles, CA
Agriculture
Accepting International Investment
Max Yield at Max Potential
Handheld Cannabis Testing Device
CANABINOX is a handheld testing device that can accurately measure levels of cannabinoids and other chemicals at affordable pricing:
- Easy to use
- Under 5 minutes
- Lab-grade accuracy
Cannabis growers want to hit max yield at full cannabinoid potential. How do they do it? They don't! Simply because they lack appropriate tools to achieve the max cannabinoid potential. They rely on experience and "sixth sense", which is not enough in this technological society.
Canabinox is a cannabinoid testing device that will help growers to effortlessly and quickly measure cannabinoids in the field, as well as to determine the most efficient harvest timing.
Although a small number of current portable testing solutions in the market enable accurate monitoring utility, they lack user-friendly experience and go way beyond affordable pricing.
Security Type
Common Stock
Price Per Share
$11.00
Valuation
$11.1 M
Prior Reg CF Raise
$171,000+ Raised
Our Product
What is Canabinox?
Canabinox is a handheld reader that enables detection and measurement of cannabinoid levels in fresh or dried plants and their products. The device is based on our proprietary technology that is accurate, cost-efficient and simple to use. You can easily test for THC(A), CBD(A) and other cannabinoids, IN LESS THAN 5 MINUTES.
The quality of substances in a plant varies from day to day and growers face difficulties when choosing the right harvest timing. Thus, plant quality monitoring could significantly improve the grower’s success. The time is critical depending on what growers want to achieve:
- Highest potency: Some growers seek to produce plants with maximum THC (or other cannabinoids) content. The THC content can fall significantly in the final days of a plant’s growth cycle. Our testing device could enable growers to daily monitor the THC (and THCA) content in plants and determine the best time to harvest (i.e. when THCA content starts dropping or plateaus).
- Consistent results: Some growers already achieve high enough THC content in their plants and products, however, they are faced with batch to batch differences that affect product consistency. Our device could enable them to monitor the cannabinoid content on a daily basis and determine the right time to harvest based on their desired cannabinoid levels. This could also enable them to offer lower-potency variants of popular strains.
- Hemp: Hemp growers face rigorous requirements for THC content in their plants and products. Hemp products have to have a THC percentage below 0.3% in order to be compliant. Our device could enable hemp growers to monitor the THC content daily and make sure they harvest before THC content reaches or goes beyond 0.3%.
Canabinox is industry-changing innovation because it will enable growers to take control of their growth operation and increase their efficiency.
The Technology
How Canabinox Works?
The proprietary system is comprised of a handheld spectrometer that enables readings of the individual, single-use tubes that contain our plant extraction chemical. Tubes are linked to a dedicated smartphone app via BLE. A user inserts a piece of the ground plant into the one-time use disposable tube that contains our proprietary chemical and leaves it for around 5 minutes to extract. Lastly, all that is needed is to insert the tube in the reader and click “Measure” in the smartphone App. Results are displayed in the app within 10 seconds and the content of sample’s cannabinoids is now visible on the smartphone. At the moment, we enable measurement of THC, THCA, CBD, CBC, and CBN. However, we will be including more cannabinoid and other chemical detection in the future.
"Take the guesswork out in less than 5 minutes!"
Why Canabinox?
Source: www.growweedeasy.com
"Be on time and hit the max potential!"
1 Time course of cannabinoid accumulation and chemotype development during the growth of Cannabis sativa L
2 Cannabinoids production in Cannabis sativa L.: An in vitro approach
"Our vision was to develop something that is easy to use and affordable, while still being of laboratory-grade quality and precision." Luka Fajs, CEO
Where Are the Benefits and Why?
Canabinox Innovation
We do not only provide time-saving benefits to encourage an industry shift to Canabinox, but also lower costs of each test along with the convenience and reliability, making it the test of choice of the future.
Our team have validated the performance of the Canabinox system in the laboratory and cross-checked it with the performance of cannabinoid testing with HPLC system. We were able to achieve a test variance of 12% and continue to improve the algorithm to decrease variance and increase the performance of the device. The key next stage of our development is to do larger scale validation of the technology in the field with growers in order to finalize the user protocol and tweak the detection algorithm before launching the product to the general public.
Canabinox reader prototype render
Current Development Stage
A substantial amount of hard work has already been done, however, our hardworking mentality will not rest until we bring the best out of Canabinox. The following information indicates what stages have been completed and what stages still require financial support.
What we have now:
As of April 2019, we have successfully completed the 2nd generation Canabinox working prototype that enables measurement of THC, THCA, CBD, CBDA in fresh plants. We have completed the beta version of the smartphone app (Android) and have the test kits assembled in-house.
- Accuracy was shown internally, and Canabinox reader is now ready for validation in the field.
- After comparing Canabinox and HPLC (Lab) tests, we confirmed matching results with a maximum discrepancy of 12%.
- Our software currently enables THC, THCA, CBD, CBN and CBC measurement.
- Our hardware has been finalized as currently have a 3D printed prototype casing.
Work to be done:
- Although some field testing has already been performed, further field validation will be performed to ensure repeatability of results in different environments and cross-referenced testing with HPCL laboratory tests.
- Despite promising validation and current test results from the lab, the detection algorithm might still require further optimization. We are confident our collaboration with growers and their feedback will reinforce larger scale validation of the technology and result in improved detection algorithm.
- Troubleshooting is part of further development and it has not been finished yet.
- The final product design is yet to be completed. The product will be manufactured by either mold injection or CNC machined casing. We estimate a time frame of 2-3 months to complete this stage.
- We have not yet applied for FCC certification. We are using components that have already been FCC certified, therefore we do not foresee a delay due to FCC certification.
- We have not selected contract filling services and packaging for disposable test tubes yet.
- We have not selected a manufacturer and packaging of final Canabinox devices yet.
Canabinox Progress in Images
1st Gen prototype
(THCA measurements only)
2nd Gen prototype
(THCA measurements only)
3rd Gen prototype
(THC(A), CBD, CBN, CBC measurements)
3rd Gen prototype performance comparison with HPLC
(compound 1: THC, compound 2:CBD; testing was done in-house)
Cannabis Industry
We Are Getting in on Time, Are You?
Over the past few years, the number of companies operating in the cannabis market has significantly increased. Shares in these companies across the U.S. quickly increased since the first signs of legalization campaigns, adding almost $2 billion in market value.
Legalizing this plant in both, medical and recreational purposes is going to have a noticeable impact on the industry over the coming decade. The North American market is witnessing this growth mostly due to legalization and decriminalization of marijuana.
According to Ameri Research Inc, the global legal marijuana market was valued at $14.3 Billion in 2016 and is forecasted to grow annually 21.1% between 2018 and 2024. It is expected to reach an astonishing $63.5 Billion in 2024 global sales. As it is written in some research articles, the cannabis industry is expected to out-earn many of the major industries (film, NFL, organic food, tobacco).
Source: www.prnewswire.com, news.medicalmarijuanainc.com, www.puffpuffpost.com
Sources: www.ocregister.com, www.alaskajournal.com, www.9news.com, legislature.maine.gov, www.oregon.gov, www.rgj.com, data.lcb.wa.gov, www.ilovegrowingmarijuana.com, www.mjbizdaily.com, www.mjbizdaily.com, www.thestar.com, www150.statcan.gc.ca, www.washingtonpost.com, www.med.uottawa.ca, www.mjbizdaily.com, www.med.uottawa.ca, www.growersnetwork.org, www.thoughtforyourpenny.com
Competitive Advantage
Canabinox vs. Market Today
Cannabis growers currently lack mechanisms to hit max yields at full cannabinoid potential, which makes them rely on instinct and past experiences.
As the cannabis industry kept growing, Eclipse Diagnostics recognized the opportunity to come up with a solution for cannabis growers. Unlike other alternatives in the market, Canabinox grants time and money savings, accurate measurements and easy-to-use concept.
* We have not performed direct performance comparisons between the technologies. The competitive advantage assessment is based on our internal comparison with HPLC testing, literature review and our experience.
Source: https://www.mydxlife.com/, https://www.orangephotonics.com/, https://www.gethigrade.com/, https://www.srigc.com/, https://gemmacert.com/
The Market
How Big is our Opportunity?
Cannabis market is rapidly growing as the number of licensed producers and cultivation acres increases worldwide. Suppose that consumption of our one-time use testers will be the highest during the last week prior to the harvesting day. Then, growers are expected to consume 20-100 (Or more depending on acres) one-time use testers during that one week period before harvesting day. Now, consider each grower has several harvesting days per month, week or even several harvests per day. We conclude there is a huge market opportunity out there, ready for us to cover it.
Being in touch with cannabis growers continuously allows us to receive real-time feedback from the market, which is why the THC, THCA, CBD, CBN and CBC measurement is only the beginning. In the near future, we will expand it to other cannabinoids, Terpenes panel and other applications. That is how our opportunity and market will consequently expand.
Financial assumptions and calculation rationale:
- Consider that 10.1M pounds of cannabis are produced each year. Now, for every third pound produced, growers need to take a sample and test it. The process should be repeated every day (at least 5 times) in the pre-harvest week. That amounts to 16.8M tests per year.
(10.1M pounds produced/year / 3 pounds) x 5 testing days = 16.8M+ preharvest tests/year
- Consider there are 66K+ of cannabis growers (and constantly increasing) and the price of the Canabinox Reader is $200, if all growers are reached we can conclude that $13M+ can be generated in Reader sales alone. (If only 50% of the growers decide to use Canabinox Reader our generated profit would be over $6.5M)
66K+ number of growers x $200 Readers = $13M+ from Canabinox Readers
- Consider there are 16.8M+ preharvest tests per year and the cost of our one-time use tester is $15. That amounts to revenue of $252.5M.
16.8 M+ Preharvest THC test/year x 15$ (test price) = $252.5M from Canabinox tests
Sources: www.ocregister.com, www.alaskajournal.com, www.9news.com, legislature.maine.gov, www.oregon.gov, www.rgj.com, data.lcb.wa.gov, www.ilovegrowingmarijuana.com, www.mjbizdaily.com, www.mjbizdaily.com, www.thestar.com, www150.statcan.gc.ca, www.washingtonpost.com, www.med.uottawa.ca, www.mjbizdaily.com, www.med.uottawa.ca, www.growersnetwork.org, www.thoughtforyourpenny.com
Growth Potential
Legalization as a Driving Force
The increase of worldwide awareness of other uses of marijuana, other than recreational, has triggered a lot of ideas to facilitate cannabis use in the medical field. Various products and instruments that are inevitably needed and helpful for both, commercial and consumer use are being developed. One of these essential instruments is the latest device of Eclipse Diagnostics. Also, legalization of marijuana in some major states in the US has allowed recreational use of marijuana to be more easily tracked and regulated, which has numerous positive influences on the industry and society as a whole. Another encouraging factor of the legalization and acceptance of cannabis uses is the ability to be tracked in more legit ways than before. The production and distribution process is shifting from the illegal markets to legitimate businesses and governments, which are much more likely to contribute to this industry than their predecessors. Our business will grow steadily as international local regulation agencies follow the North American lead.
Source: Statista; Published Jun 15, 2017, by Martin Armstrong.
"The global cannabis testing market is expected to generate revenue of around USD 2,012 million by the end of 2024, growing at a CAGR of around 12.0% between 2018 and 2024."
Source: www.globenewswire.com, Published Oct 30, 2018
Producers are constantly showing interest in new cannabis-related technology. Being able to quickly and precisely test the THC and CBD levels in the flower can be very useful at different production stages.
Currently, some of the main methods used are flower pistil and color examinations or trichome observation. Another option is to use third-party laboratories, which is time-consuming, plus cost per each test sample often exceeds hundreds of dollars.
The overall goal of Eclipse Diagnostics is to contribute to this expanding industry* and increase the marijuana quality at high productions volumes by making the potency testing process more efficient, affordable, fast and accurate.
*Expanding industry - The number of legalized/licensed Cannabis growers and their acres is continuously growing. That fact is crucial for us and our business because every additional cannabis pound produced means more potential business for us.
A new report shows that hemp cultivation in the U.S. significantly increased last year, from 26,000 acres in 2017 to 78,000 acres in 2018. That was in fact before the crop was formally legalized via Farm bill.
Our Mission
Support Us!
The funding that we are raising on Start Engine is necessary to start larger scale validation, manufacturing, distribution and marketing of the Canabinox technology. Even though our focus is currently directed towards previously described use of our device, Eclipse Diagnostics has working patents that can revolutionize various aspects of the health industry.
We see the medical cannabis industry as a great start of our venture which will potentially allow us to influence the whole medical field in more direct ways. We are confident that our significance for the medical field as a whole does not stop at our current achievements and that we have many more useful ways to contribute. We chose Start Engine as it gives an opportunity to the wider population to be part of our vision while, at the same time, allows us to research and create.
Invest Today!
Perks for Investors *
*All perks occur only after the offering is completed and if the products are available in the market
Our Team
We've Compiled Top Talent
Dr. Luka Fajs (Feiss)
Founder and CEO
Luka comes from Slovenia and holds a PhD in Medical Microbiology. Before starting the company he was doing research and clinical laboratory diagnostics of hemorrhagic fevers, biothreats and other infectious diseases. He spent a lot of time in the field, helping doctors and nurses in low-income countries to set up and improve their diagnostic preparedness. During his work, he saw firsthand the drawbacks of the existing medical diagnostics system that is mostly centralized, capital-intensive, with many people not enjoying adequate access to it. That was the motivation to join Prof. Robert's laboratory in Singapore where he took over the fundraising and startup activities of the technology. He continued as CEO of Biosensorix and helped secure early funding and directed the research and development activities. He is a passionate entrepreneur with deep knowledge of diagnostics, user expectations, and basic science.
Prof. Robert S. Marks
Founder and Chief Scientist
Prof. Dr. Robert S. Marks is the co-inventor of the technological platform and is a renowned expert and key opinion leader in the field of biosensors. He is a Full Professor at the Ben-Gurion University of the Negev, Israel, at the Department of Biotechnology Engineering. Prof. Marks has extensive experience in the development of biosensors. He is the Editor-in-Chief of a 2007 2-volume Wiley Handbook in Biosensors and Biochips and a 2014 Viral Diagnostics book for virus detection. He is the author of 155+ papers (H-index 27), and numerous chapters. He has 4 issued patents as well as a dozen filed.
Tina Semolic
Marketing Advisor
Previously at Adglow.com (clients: Prada, Miu Miu, Moschino, Pinko, Max Mara, Armani etc.), Httpool.com (over 50 clients: Generali insurance, Mercedes, Audi, STO - Slovenian touristic org. etc.), Adroll.com (Head of Business Development SMB), Facebook.com (over 500 clients: Adidas, Nike, Ferrari, illy, Morellato, Fossil, Head, Hugs etc.)
Team of Engineers
Research & Development
VB Center d.o.o. - R&D
A team of experienced engineers, programmers and business developers in the field. Years of experience and successful development of several projects on a worldwide level.
After successfully raising over $170,000 from 94 investors for our stroke-risk monitoring device, Eclipse Diagnostics is back! Introducing Canabinox – a rapid testing device to monitor the levels of cannabinoids and other chemicals in plants and their products.
Offering Summary
Company | : | Eclipse Diagnostics Inc. |
Corporate Address | : | 750 N. San Vicente Blvd, Los Angeles, CA 90069 |
Offering Minimum | : | $9,999.00 |
Offering Maximum | : | $363,220.00 |
Minimum Investment Amount(per investor) | : | $495.00 |
Terms
Offering Type | : | Equity |
Security Name | : | Common Stock |
Minimum Number of Shares Offered | : | 909 |
Maximum Number of Shares Offered* | : | 33,020 |
Price per Share | : | $11.00 |
Pre-Money Valuation | : | $11,189,805.00 |
*Maximum subject to adjustment for bonus shares. See 10% Bonus below
Perks*
All investors
Regular updates on our technology progress
$5,000+
Exclusive content and regular company updates
Your place on the Technology Ambassadors Page of the website
1 Canabinox test kit
$10,000+
Exclusive content and regular company updates
Your place on the Technology Ambassadors Page of the website
2 Canabinox test kits
Invitation to our annual company VIP events
$50,000+
Exclusive content and regular company updates
Your place on the Technology Ambassadors Page of the website
4 Canabinox test kits
Once-a-year conference call with the CEO and founders
*All perks occur only after the offering is completed and if the products are available in the market
The 10% Bonus for StartEngine Shareholders
Eclipse Diagnostics Inc. will offer 10% additional bonus shares for all investments that are committed, within 24 hours of this offering going live, by StartEngine Crowdfunding Inc. shareholders who invested over $1,000 in the StartEngine Reg A offering which closed earlier this year.
StartEngine shareholders who invested $1,000 or more in that StartEngine Reg A offering will receive a 10% bonus on this offering within a 24-hour window of this offering’s launch date. This means you will receive a bonus for any shares you purchase. For example, if you buy 10 shares of Common Stock at $11 / share, you will receive 11 Common Stock shares, meaning you'll own 11 shares for $110. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.
This 10% bonus is only valid for one year from the time StartEngine Crowdfunding Inc. investors received their countersigned StartEngine Crowdfunding Inc. subscription agreement.
Irregular Use of Proceeds
The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Any expense labeled “Administrative Expenses” not strictly for administrative purposes; Any expense labeled “Travel and Entertainment”; Inter company debt or back payments; Salary payments made to one’s self, a friend or relative; Vendor payments
Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$12,666.00
USD
USD
Cash And Cash Equivalents
$8,952.00
USD
USD
Accounts Receivable
$0.00
USD
USD
Short Term Debt
$5,775.00
USD
USD
Long Term Debt
$0.00
USD
USD
Revenues And Sales
$0.00
USD
USD
Costs Of Goods Sold
$0.00
USD
USD
Taxes Paid
$0.00
USD
USD
Net Income
-$146,628.00
USD
USD
Risks
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
Updates
Notice of Funds Disbursement
8 days ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Eclipse Diagnostics has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Eclipse Diagnostics be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Notice of Material Change in Offering
17 days ago[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the Eclipse Diagnostics offering. Here's an excerpt describing the specifics of the change:
Extended length of campaign.
When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.
Notice of Funds Disbursement
about 1 month ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Eclipse Diagnostics has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Eclipse Diagnostics be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Eclipse Diagnostics on the Hemp Entrepreneur Podcast
about 2 months agoDear Investors,
Check out our latest discussion on the topic of rapid testing in the hemp industry. Our CEO Luka was on the Hemp Entrepreneur Podcast where he discussed the major issues and barriers that hemp growers and law enforcement face today with regard to testing.
Check out the whole discussion at the link here.
Eclipse Diagnostics
Notice of Funds Disbursement
about 2 months ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Eclipse Diagnostics has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Eclipse Diagnostics be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
Notice of Funds Disbursement
2 months ago[The following is an automated notice from the StartEngine team].
Hello!
As you might know, Eclipse Diagnostics has exceeded its minimum funding goal. When a company reaches its minimum on StartEngine, it's about to begin withdrawing funds. If you invested in Eclipse Diagnostics be on the lookout for an email that describes more about the disbursement process.
This campaign will continue to accept investments until its indicated closing date.
Thanks for funding the future.
-StartEngine
In California $1B in cannabis plants seized and destroyed because of THC over 0.3%
3 months agoFox News reported that an investigation into several hemp fields in California uncovered 10 million illicit cannabis plants with a “black market” value of over $1 billion, which authorities seized and destroyed.
Samples of the plants were tested to determine their level of THC and showed that the levels tested were well above the legal 0.3 percent limit for industrial hemp production.
This highlights the critical need for fast, accurate and affordable field testing technologies to monitor the levels of THC (and other cannabinoids) in plants.
At Eclipse Diagnostics we are focused on bringing our rapid testing technology to the market for both hemp growers and law enforcement, to enable rapid and accurate measurement of THC in plants and products thereby enabling compliance and enforcement of hemp laws.
Winners of the Founder's Live pitch competition
3 months agoWe are happy to announce that Eclipse Diagnostics won the Founders Live Pitch Competition!
Eclipse Diagnostics's founder and CEO attended the Founders Live Pitch Competition on Wednesday, October 16, at Ironfire, the most talked about, written about pitch competition in Long Beach! Founders Live has been featured in The Long Beach Business Journal (Sep 2019), The Grunion (September 2019), and Long Beach Press-Telegram (February 2019).
Founders Live is a unique, monthly pitch competition during which five handpicked startups take the hot seat with only 99 seconds to pitch their company and describe their value proposition to an eager audience. A brief Q&A follows each pitch, and then the crowd votes for their favorite! Founders Live events take place in cities all over the world, invigorating startup ecosystems while making celebrities of local founders. Founders Live Long Beach was launched in September 2018 and is the only recurring fast-pitch competition in the Long Beach area!
Collaboration with TheraCann International
3 months agoWe are pleased to announce that Eclipse Diagnostics Inc., has entered into an agreement with TheraCann International. The purpose of the agreement is to complete a number of field/pilot tests in order to explore different cannabinoid testing applications utilizing the Eclipse handheld cannabinoid testing device (CANNABINOX) system. We are in the process of assessing multiple applications to include CANNABINOX as part of the TheraCann ETCH Biotrace global solution.
About Theracann International Benchmark Corporation
Founded in 2004, TheraCann International Benchmark Corporation offers a one-stop, full-service solution for the International cannabis marketplace. TheraCann provides business, technology and industry experts who apply advanced technology and help clients design, build and run their cannabis businesses. Integrating nearly 3.5 million square feet of cannabis operations and the successful launch of groundbreaking Enterprise Resource Planning (ERP) software, Aeroponic cultivation systems and patented genetic tracking and diversion prevention systems, TheraCann provides cannabis-related businesses with solutions to fit their regulatory requirements.
More information about TheraCann is available at www.theracanncorp.com.
Notice of Material Change in Offering
3 months ago[The following is an automated notice from the StartEngine team].
Hello! Recently, a change was made to the Eclipse Diagnostics offering. Here's an excerpt describing the specifics of the change:
Extended length of campaign.
When live offerings undergo changes like these on StartEngine, the SEC requires that certain investments be reconfirmed. If your investment requires reconfirmation, you will be contacted by StartEngine via email with further instructions.
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