EX-99.3 5 ex99_3.htm EXHIBIT 99.3 FACT SHEET ex99_3.htm

 
PAGE 1
Investor Fact Sheet
Ticker Symbol: CEMI
www.chembio.com

Business Summary & Investment Highlights
Chembio Diagnostics, Inc. (Chembio), through its wholly owned subsidiary Chembio Diagnostic Systems, Inc. develops, manufactures, licenses and markets point-of-care testing (POCT) products. Chembio created and patented a new revolutionary technology called Dual Path Platform (DPP®). The technology is addressing critical market requirements in the infectious diseases testing market and other growing markets. Products under development, both OEM and branded, are anticipated to create
significant new revenue streams that will add to Chembio’s core business of rapid HIV tests.

• >30% Five Year Revenue CAGR.

• 148% YOY sales increases of Chembio’s FDA approved lateral flow HIV tests that are marketed in the U.S. by Inverness Medical Innovations, Inc. (IMA:NYSE), a leading POCT company. IMA markets Chembio’s products as Clearview® COMPLETE HIV 1/2 globally and Clearview® HIV 1/2 STAT-PAK® in the U.S. to hospital emergency departments, public health clinics, and physicians offices.

• Robust pipeline of POCT products for HIV (oral fluid), Syphilis, Influenza, Hepatitis-C (oral fluid), and other infectious diseases based on Chembio’s patented DPP® technology. Major benefits include improved sensitivity, multiplexing, sample control and quantitative measurements.

• Point of care testing is the fastest growing segment of the $40 billion in-vitro diagnostic market. Drive for cost containment and need for quick results have caused the market to grow rapidly.

Selected Financial Information
Stock Information
Ticker Symbol CEMI
Price 2/28/10 $0.285
52 Week High $0.390
52 Week Low $0.080
Outstanding Shares (MM) 62.0
Market Capitalization (MM) $17.7
Fully Diluted (FD) Shares 70.4
Management Holding-FD 10.9
Average Volume (3 Mos) 101,000


Major Beneficial Holders Beneficial Shares Owned (MM)
Lawrence Siebert 6.9
Inverness Medical
Innovations, Inc. 5.4
Crestview Capital Offshore Fund, Inc. 3.4

 
($000s)
            
Balance Sheet Data
  
Dec. '09
    
Dec. '08
  
Cash
   $ 1,068     $ 1,212  
Accts. Receivable
     1,776       809  
Inventories
     1,556       1,819  
Other Current Assets
     267       225  
Total Current Assets
     4,667       4,066  
Net Fixed Assets
     580       881  
Other Assets
     1,068       968  
Total Assets
     6,315       5,915  
Total Current Liab.
     3,173       2,402  
Total Other Liab.
     54       936  
Total Liabilities
     3,227       3,338  
Total Equity
     3,088       2,577  
Total Liabilities & Shareholders Equity
   $ 6,315     $ 5,915  


Selected Comparative Historical Financial Data
                                
Quarter Ended Year Ended
    
Three Mos Ended
    
For the Years Ended
  
$ (000s )  
Dec 31, 2009
    
Dec 31, 2008
       2009       2008       2007       2006       2005  
Total Revenues
     $ 3,551     $ 2,451     $ 13,834     $ 11,050     $ 9,231     $ 6,503     $ 3,941  
Cost of sales
       1,920       1,836       7,974       7,198       6,435       4,894       2,996  
Gross Profit
       1,631       615       5,860       3,852       2,796       1,609       945  
          45.9 %     25.1 %     42.4 %     34.9 %     30.3 %     24.7 %     24.0 %
R&D Expense
       756       653       2,884       2,605       1,907       1,402       1,365  
SG&A Expense
       657       620       2,659       3,317       3,765       4,787       2,878  
Operating Income (Loss)
       218       (658 )     317       (2,071 )     (2,876 )     (4,580 )     (3,298 )
Other Inc. (Expense)
       (1 )     108       (8 )     122       249       (415 )     46  
Net Income (Loss) - Stkhldrs
       217       (550 )     309       (1,949 )     (2,627 )     (4,995 )     (3,252 )
Pref. Stock Expenses
       -       -       -       -       5,645       3,210       3,517  
Net Loss
     $ 217     $ (550 )   $ 309     $ (1,949 )   $ (8,272 )   $ (8,205 )   $ (6,769 )
Net Income (Loss) - per Share
     $ 0.00     $ (0.01 )   $ 0.00     $ (0.03 )   $ (0.57 )   $ (0.80 )   $ (0.88 )
Avg. No. Shares (Millions)
       61.951       61.945       61.946       61.267       14.608       10.293       7.705  
Working capital
     $ 1,494     $ 1,664     $ 1,494     $ 1,664     $ 3,229     $ 5,113     $ 831  
Total assets
       6,315       5,915       6,315       5,915       6,585       7,907       3,016  
Total liabilities
       3,227       3,338       3,227       3,338       2,322       2,297       1,964  
Equity (Deficit)
       3,088       2,577       3,088       2,577       4,263       (940 )     1,053  



Chembio Diagnostics, Inc.
3661 Horseblock Road
Medford, NY 11763
Ph. 631-924-1135
Fax 631-924-2065
www.chembio.com

Investor Relations
The Investor Relations Group
James Carbonara JCarbonara@investorrelationsgroup.com
212-825-3210

Company Contact
Susan Norcott
631-924-1135 x125
Snorcott@chembio.com
PAGE 2 –

Chembio’s Lateral Flow Rapid HIV Tests Marketed Exclusively in the USA by Inverness Medical Innovations, Inc.

DPP® Technology
Competitive Advantages For POC Testing

• Improved Sensitivity - enabled by more efficient binding method
• Easier Multiplexing - due to even and direct distribution of sample to multiple test lines
• Enhanced Sample Control - as result of independent sample migration path
• Clearer Results - efficient binding allows for improved functionality of instruments for reading and reporting of qualitative or quantitative results

Chembio’s Dual Path Platform (DPP®) Patented in 2007

Board of Directors
Katherine Davis - Former Lieutenant Governor and numerous other leadership positions for the State of Indiana; former senior executive of Cummins, INC. (NYSE:CMI)

Dr. Gary Meller - Broad experience in medical and information technology and pharmaceutical product development

Senior Management Team
Lawrence A. Siebert, Chairman & CEO, 25 years of management and financing experience
Richard J. Larkin, CFO, 25 years of operational and financial experience
Javan Esfandiari, SVP R&D, 15 years of experience in development of in-vitro point of care products

Except for the historical information contained herein, the matters discussed in this document are forward-looking statements, the accuracy of which is subject
to risks and uncertainties. Please refer to Chembio Diagnostic’s Inc. most recent Form 10-K and Forms 10-Q for additional information about the Company and
related risks. - March 2010
CHEMBIO-InvestorFactSheet_Updated030210.indd 2 3/4/10 2:49:28 PM