CANABINOX is a handheld testing device that can accurately measure levels of cannabinoids and other chemicals at affordable pricing:
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.
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:
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.
Source: www.growweedeasy.com
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
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
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.
Work to be done:
(THCA measurements only)
(THCA measurements only)
(THC(A), CBD, CBN, CBC measurements)
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
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/
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
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.
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.
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.
*All perks occur only after the offering is completed and if the products are available in the market
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. 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.
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.)
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.
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 |
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.
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.
We will be unable to meet our April 29, 2020, annual report filing requirements for securities sold pursuant to Regulation CF as a result of administrative delays caused by shutdowns due to the COVID pandemic. As such, we intend to rely on the temporary relief being provided by the Securities and Exchange Commission. We will continue to use our best efforts to comply with our ongoing reporting obligations.
Thank you for your continued support.
Eclipse Diagnostics Team
Dear Investors,
Our campaign is ending tomorrow, April 29, 2020 at 11:59pm, so this is your last chance to invest in our Company and be part of our mission to provide easy, rapid and accurate testing for for medical and non-medical applications. We would like to thank all our investors so far and hope to be back soon.
Eclipse Diagnostics team
[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
Dear Investors,
We have some great updates on our research and development progress!
Laboratory Validations
We have been busy optimizing the performance and improving the design of our Eclipse THC/CBD reader. In the past months, we have continued to optimize both our hardware as well as software algorithms to enable a wider range of detection capabilities. We have made great progress in increasing the accuracy of our device from the initial 12% variability to the current 2% variability (THC(A)) measurements! We have performed our testing primarily on samples that had THCA levels between 3% and 30% and very low CBD levels, therefore we are now expanding our validation efforts to include all relevant THC(A) and CBD(A) combinations.
One of the key lessons learned during this process was that there is a large variability between laboratory data (that we rely on for the calibration) from different labs - inter-lab variability. The inter-lab variability can even range up to 50%! Therefore our main efforts were focused on identifying and partnering with reputable and reliable laboratories in the U.S. We anticipate that we will start our final round of laboratory validations in the coming weeks. This is, of course, dependent on the restrictions in place due to the Covid-19 outbreak.
A specific effort will be to validate the device for the differentiation of hemp vs. non-hemp to enable growers peace of mind during cultivation (crops that go above the legal cut-off of 0.3% THC get destroyed) and to provide law enforcement a tool to rapidly differentiate the same and prevent unnecessary shipment delays and damage to products.
Updated reader design
We have also been working on finalizing the design of the reader for mass production. This means that we had to redesign the case from a 3D-printable design to a design suitable for injection molding. We have completed this and improved the usability of the device by adding a hinge that now holds the reader cap in place and enables a more care-free operation. We have also identified suitable subcontractors for the manufacturing of the molds, as well as other components of the reader.
Updated branding
We designed a new logo and would like to hear your opinion! The goal of Eclipse Diagnostics is to provide a wide range of diagnostic products, from medical and non-medical applications and we want our branding to reflect that. We are also redesigning the website that will be available soon (we'll let you know when it's live).
Government grants
We submitted a DoD SBIR grant proposal with regard to the call topic "Diagnostic Platform for Rapid Identification of Pathogens in Infected Wounds that is Useable in a Battlefield Environment". We will be submitting more applications for government funding in the coming months, based on the applicability of the grant calls.
What's left to do
We have received great interest from customers in the US, Europe, and Asia and believe that we can start fulfilling orders within weeks of completing the above tasks.
Impact of Covid-19
In light of the ongoing outbreak of Covid-19, we continue our research and development, we are enforcing social distancing and promote work from home as much as possible. The components of the Eclipse reader are readily available and we have not seen a significant impact on our supply chain. We anticipate that the Covid-19 will increase the demand for home/field testing solutions as access to laboratory testing could be limited.
Eclipse Diagnostics
[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
[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.
[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
[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
[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.
[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
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