With the run up in the pot/marijuana space I decided to search and find out how LCTC can be linked to this group.
Obviously it's not a grower or distributor but check out all the different ways that you can link this company to the topic of marijuana:
“As marijuana legalization spreads across the country and the world, the need to get rapid and reliable testing methods to law enforcement officers will only increase. Providing this technology is consistent with Lifeloc’s corporate mission to make our roads and workplaces safer,” said Dr. Wayne Willkomm, CEO of Lifeloc Technologies. Feasibility of detection has already been demonstrated for very low levels of delta-9-THC (the primary psychoactive agent of marijuana), cocaine, and methamphetamine.
Dr. Willkomm commented, “It is an exciting time to be at Lifeloc. We are well positioned for growth and I look forward to building the business through an increasingly effective alcohol and drug detection product pipeline.”
Lifeloc is expanding its product portfolio into “near and remote sensing” opportunities outside of alcohol testing. In September 2014 the company received an award of $250,000 from the Colorado Office of Economic Development and International Trade for the continued development of a THC breathalyzer for detection of the psychoactive compound in Marijuana which causes impairment.
Lifeloc has previously introduced our efforts in THC breath detection, more commonly referred to as a marijuana breathalyzer. We are taking our core competency in designing and building rugged, portable, real-time analytical devices and leveraging that with trace compound detection technology from the U.S. Naval Research Laboratories. This work is being accelerated by a $250,000 grant from the Colorado Office of Economic Development and International Trade to match certain R&D expenditures on this marijuana breathalyzer. Thus far, we have demonstrated the sensitivity to detect extremely small amounts of delta-9-tetrahydrocannabinol (delta-9-THC), the main psychoactive ingredient in marijuana, under perfect conditions in the laboratory. Work continues to develop this capability in a portable device and under real world conditions with interfering components as present in a breath sample.
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This course is an essential training tool for understanding and preparing your workplace for the growing medical and recreational use of THC. State laws around the use of marijuana are changing quickly. Most employers are ill-prepared to handle the newly emerging legal, policy, safety and related business issues resulting from legalization. This course sorts out fact from fiction and equips HR Managers, Safety Managers, Business Owners, and Substance Abuse Professionals with the information they need to avoid being blindsided
DENVER--(BUSINESS WIRE)--Lifeloc Technologies, a Colorado manufacturer and exporter of professional alcohol breathalyzers for use by Law Enforcement, Corrections, Schools and the Workplace is pleased to announce an award of $250,000 from the Colorado Office of Economic Development and International Trade (OEDIT) to accelerate its development of the world's first Marijuana Breathalyzer. Matching funds required by the grant will be provided by Lifeloc.
The CEO of Lifeloc, Barry Knott said that the company was in a race with itself to develop their own pot breathalyzer. “As far as we know there’s nobody else as far along in this.”
“I think the first breathalyzer on the market will be a simple ‘yes’ or ‘no’ for the presence of THC at the time of the test, and in that sense it won’t provide a quantitative evidential measure,” said Barry Knott, the chief executive of Lifeloc, which already makes alcohol breathalyzers.
The size of the potential market is unclear, owing to widely varying estimates of cannabis use, and unreliable data on those driving under its influence.
But developers say they will be able to sell pot devices for a lot more than the ubiquitous alcohol breathalyzers.
Lifeloc sells alcohol breathalyzers for $300-$400 but expects to charge $2,500-$3,500 for its cannabis version.
“It would be home run for any company that develops the technology,” said Barry Knot, CEO of Lifeloc Technologies. “The advantage of a Breathalyzer is that it provides virtually instantaneous feedback to the officer, so within a matter of seconds they can get an accurate determination of blood alcohol content."
"2012 we staffed a new senior management position to investigate and identify promising technologies and possible acquisitions that will enable Lifeloc to participate in the growing market for the detection of illegal drugs."
LCTC is actively working on trying to get more involved in the pot industry by expanding its substance abuse detection devices to include illegal drugs.
