Toronto, Ontario December 16, 2020 — QuestCap Inc. (“QuestCap”) (NEO:QSC; OTC:COPRF; FRA:34C1) is pleased to announce a December sales update at its wholly owned subsidiary, Collection Sites, LLC. On a 30-day run-rate basis, the initial 20 sites are generating US$4 million of revenues based on a 7-day rolling average.
December Sales Figures
Figure 1 – Collection Sites monthly run rate and average tests per cube by day.
- Initial 20 sites continue to show strong tests sales with 7-day rolling average of 79 tests per day per site and average test price exceeding US$85 per test;
- On a 30-day run-rate basis, the initial 20 sites are generating US$4 million based on a 7-day rolling average;
- An additional 25 sites (Phase 1) spread across the United States are expected to be operational before Christmas;
- Phase 2 planning underway for another 50-70 collection sites to be placed by year end, with some expected to be operational before year-end. Phase 2 sites will over double Collection Sites current network and potential sales revenue once fully operational.
“As we saw with Canadian Thanksgiving, the U.S. Thanksgiving holiday appears to be a super-spreader event that is increasing the demand for testing,” says Mr. Doug Sommerville, CEO of QuestCap, Inc. “We believe this will drive increased demand for testing and are excited to have an additional 25 sites operational before Christmas. As we saw leading up to Thanksgiving, people are eager to get tested before visiting family and loved ones. We will be in a position to capitalize on this demand and provide effective and convenient testing to Americans across the country.”
Collection Sites Continues to Engage Government on Vaccine Distribution Opportunity
The Collection Sites team continues to engage multiple levels of government across the United States with the goal of using the Collection Sites network of pop-up labs as vaccine distribution centres. While there are still regulatory and logistical challenges associated with this opportunity, the Collection Sites team believes the benefits of faster and more convenient vaccine distribution has the potential to help the United States reduce the spread of COVID-19.
About Collection Sites
Collection Sites COVID-19 testing centers offer convenient access to rapid antibody and antigen tests – which take 8-10 minutes to administer and provide results in less than 24 hours. The sites also offer regular RT-PCR, with results within 24 hours of testing. The testing centres are powered by Alcala Testing and Analysis Services, a CLIA-licensed laboratory based in San Diego, California. All tests can be administered with insurance coverage options. The tests results can be communicated via text or email and can be accompanied with a certificate of good health via a HIPAA-compliant smartphone application.
For more information about the pop-up lab, the available sites and services visit www.testbeforeyougo.com.
About QuestCap Inc.
QuestCap Inc. (NEO:QSC; OTC:COPRF; FRA:34C1) seeks out disruptive technologies, ground-breaking innovations, and exclusive partnerships to help combat COVID-19 and generate remarkable risk-adjusted returns for investors. Specifically, QuestCap offers investors a diversified investment in the COVID-19 medical space across three areas; prevention, detection, and treatment.
QuestCap has a team of renowned global medical and business advisors that have developed a proprietary business strategy to capitalize on high-margin opportunities in the COVID-19 space. This panel includes prominent immunologist Dr. Lawrence Steinman and Dr. Glenn Copeland, who has 45 years of experience in orthopaedic treatment, foot and ankle care, and sports medicine.
QuestCap’s primary focus is the sale of COVID-19 IgG/IgM antibody tests authorized by FDA under an EUA for use by authorized laboratories. This is achieved largely through two acquisitions: 100% of Collection Sites, LLC and 28% of Colombian Sanaty IPS. Collection Sites is setting up a series of COVID-19 testing sites across the United States with appointments and payments will be handled through the online portal www.testbeforeyougo.com. Sanaty is setting up a series of full-service medical clinics offering a complete COVID-19 testing solution.
For additional information, please contact:
Doug Sommerville, CEO
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Cautionary Note Regarding Forward-looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the results of the Collection Site testing cubes; the proposed roll-out of testing sites; projected timelines for testing results; projected revenues from the testing; the pursuit by QuestCap of investment opportunities; and the merits or potential returns of any such investments. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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