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"Lifeloc Technologies, a company that sells breathalyzers and drunk goggles, describes a 0.25 BAC as "all mental, physical and sensory functions are severely impaired. Near total loss of motor function control."
https://patch.com/new-york/northport/intoxicated-motorcyclist-involved-crash-northport-police
We granted 50,000 options to an officer in January, 2016, which had a term of 5 years, but which only became vested if sales of $20 million and pre-tax income of 15% were achieved in 2018. If those targets were not met until 2019, then 50% of the options would vest and the remainder canceled. If those targets were not met until 2020, then 25% of the options would vest and the remainder canceled. On October 1, 2017, the option agreement was amended to provide a one-year delay for meeting the sales and earnings targets and a revised exercise price. Because of the revision in exercise price, this amendment was deemed a new option. Accordingly, the outstanding options were canceled and new options were issued under the terms of the October 1, 2017 amendment. On January 25, 2019, this option agreement was amended to provide for an additional performance metric, namely, if the product known as SpinDx™, including the marijuana breathalyzer which incorporates SpinDx™ technology, has been completed and submitted to regulatory authorities for review by or before December 31, 2019, all of the 50,000 options will vest in full, whether or not the sales and earnings requirements have been met. This amendment to the performance metrics of the existing option agreement was deemed a modification to the existing option. The Stock-based compensation expense recognized under ASC 718 for the six months ended June 30, 2019 and 2018 was $3,221 and $8,734 respectively. These amounts consist of stock-based compensation expenses from grants of employee stock options which are allocated to General and Administrative Expense when incurred.
Dr. Wilkomm should be able to see the incentive to get this thing done by the end of the year. He has about 4 1/2 months to see this to fruition. For the sake of the shareholders and everyone involved, let's pray that Lifeloc can take the necessary steps to get this submitted!
In March 2017 we acquired substantially all of the assets related to the Real-time Alcohol Detection and Reporting product ("R.A.D.A.R.®") from Track Group, Inc. ("TRCK") for $860,000 in cash. The purchased assets included the R.A.D.A.R.® device with cellular reporting for real-time alcohol monitoring, database infrastructure to tabulate and manage subscriber behavior, and biometric methodology and intellectual property to fully automate identity verification. The R.A.D.A.R.® device was designed to be part of an offender supervision program as an alternative to incarceration, and it is assigned to offenders as a condition of parole or probation, with random testing throughout the day to demonstrate that they are meeting the conditions of their sentence. We completed upgrading our base breathalyzer product line in Q4 of 2018 and will be submitting the models for local statutory and regulatory approvals throughout 2019. We are nearing completion of work in improving the manufacturability of R.A.D.A.R.® devices, which we expect to launch in Q4 of 2019.
"Revenues in the second quarter of 2019 were higher compared to revenues in 2018. We believe changing market conditions together with the re-launch of R.A.D.A.R.® in mid 2019 may result in further increases in revenues for the remainder of 2019. We expect our quarter-to-quarter revenue fluctuations to continue, due to the unpredictable timing of large orders from customers and the size of those orders in relation to total revenues. Going forward, we intend to focus our development efforts on products we believe offer the best prospects to increase our intermediate and near-term revenues."
Revenues should increase on a quarterly basis for the foreseeable future as far as I'm concerned.
Lifeloc full quarterly report is out:
http://archive.fast-edgar.com//20190812/AJZZR22CZ22FH9Z2222N2ZZ4TR3KZZ2R2DB2/
Lifeloc should be able to grow revenues 10% per quarter through the end of the year. This would put annual revenues right below $10 Million for the year at $9.8 Million. This would be the highest annual revenues since its inception as a company and set us up for an even better 2020.
Keep in mind that the 372,192 total shares in the float includes those owned by Barry Knott (109,625), those owned by Gurumurthi Ravishankar (10,000), those owned by Robert H Summers (11,500) and Mark A Lary (50,000).
These are all former insiders/directors of Lifeloc and as far as I know are no longer associated with the company which makes their shares part of the float. These shares total 181,067.
That leaves a total free float of 191,125 shares over for the 67 shareholders. In theory, that averages only 2,850 shares per shareholder.
There is a possibility that the market maker in LCTC has shares that he is using to make a market and has a decent long position that he wants to get rid of. However, I don't think this is the case.
Barry Knott - former CEO who left the company in 2016 and owned 109,625 shares of LCTC.
Mark A Lary is a former officer/director in 2013 and owned 50,000 shares.
Someone is hell bent on not letting this stock go above $6.00. It has to be one of these two guys.
Any thoughts/ideas on as to where/why we continue to see a seller at such low price levels? That was a great quarterly report and we continue to battle with a seller that refuses to let this stock trade above $6.00. This seems like a never ending stream of stock for sale and I need to figure out where it's coming from.
Barry Knott or Mark A. Lary - These are the only two individuals that hold have enough shares to continually be sellers of these 1,000 share lots. This is why we are unable to see higher prices and are stuck in this consolidation range.
You, Energy manager, and myself would never be sellers at this level so I am counting out any of us.
This is something I really need to find closure with. Where are these never ending shares coming from, why are they being sold at such a low price, and how many more shares are there to go before we can finish up this seller?
Awesome. Thanks. I will look to take a starter position in this today and see if I can do some more homework over the weekend. The whole space has nothing but growth for the foreseeable future.
If we want to sustain this current move, we really need to see buyers continue to take out offers. If we can take out the offer at $7.00 we can see a breakout of the consolidation that has been happening for over a year. Let's see what happens today. It would be nice to see that buyer at $6.00 come back today and get a bit more aggressive.
If LCTC can close at $6.25 or higher today, it will be a new 52 week high for the stock. We really need to see this $6.00 price level turn into support and keep the volume and momentum moving in the right direction. Sustained interest is of utmost importance right now to keep things moving.
Lifeloc attending the GHSA Annual Meeting's Highway Safety Exhibition in a couple weeks and the American Probation and Parole Association Conference in San Francisco, CA. next weekend.
Marketing efforts are ramping up. This is good to see!
https://www.ghsa.org/events/Annual-Meetings/2019/Exhibitors
We continue to have a relentless seller of 1,000 share lots and this has been preventing us from moving higher for months. Even after seeing the latest quarterly report, they continue to sell. I would really like to get some insight into where these shares are coming from and how many more shares they have to sell.
Give me the brief synopsis of what Lexaria does and why I should be interested but let's keep this board's discussion about Lifeloc.
Thanks man.
This was the highest volume day since late February! I can't stress enough the importance of having follow through in the coming days. We need to maintain a price at/above $6.00/share. Hopefully this report opens up some eyes and brings in the some new money flow.
BLOZF vs. LCTC current market cap comparison:
BLOZF 104,024,104 total outstanding shares x $.55/share = $57.2 Million
LCTC 2,454,115 total outstanding shares x $6.00/share = $14.7 Million
In no way, shape or form does BLOZF deserve to be valued at close to 4 times that of LCTC. This will continue to change by the end of the year.
If we were to place the value of LCTC similar to that of BLOZF I come up with a stock price of $23. Lifeloc deserves at least a valuation twice that of Cannabix. This is an absolute given.
Let's look at some second quarter highlights:
Quarterly net revenue of $2.34 million resulting in quarterly net income after taxes of $219 thousand, or $0.09 per diluted share.
Revenue for the quarter increased nearly 10% versus the second quarter last year. For the first six months of the 2019, net revenue was $4.41 million and net income was $250 thousand, versus revenue of $4.33 million and net income of $89 thousand for the same period last year ($0.10 vs. $0.04 per diluted share).
We intend to continue heavy investment into our brightest growth opportunities, especially alcohol monitoring and real-time drug detection with SpinDx, the lab on a disc and the marijuana breathalyzer.”
The brightest growth opportunity consists of our developments in real-time drug testing, including the marijuana breathalyzer and a rapid panel analysis of such drugs as heroin, cocaine, meth and others, with the SpinDx platform.
We have demonstrated SpinDx to perform trace analysis from liquid and vapor samples in the laboratory. Our work ahead is to complete the conversion of SpinDx from a laboratory test to simple-to-operate devices ready for deployment in the field.
Total current assets $5,516,498
Total assets $8,782,489 ($3.57/share)
Nice late day surge as LCTC traded through $6.00 today on really good volume. That's great to see. This stock has consolidated in a two dollar price range for over a year! We are overdue for a move. It's vitally important to get follow through in the coming days and to stay above $6.00.
It does not look like the full report is out yet. I am assuming we will have the full SEC report out tomorrow.
Quarterly report second quarter 2019:
https://www.businesswire.com/news/home/20190807005724/en/Lifeloc-Reports-Quarter-2019-Results
It looks like they haven't reported earnings of $.09/share in a quarter since 2013. This is good. Really good!
Lifeloc quarterly earnings are out. I'll take some time later on tonight to go through the report but early indication is that they are really good.
$2.34 Million Revenue
$.09/share
GROWTH!!!
We had a shot at getting through $6.00 today but a late day seller of 300 shares thwarted the progress. Consolidation continues at least for now.
I have a feeling the market maker is not ready to let this thing go higher just yet. It still feel like any momentum higher is met with selling every time. I don't know the reasoning behind this, but it certainly is there. We should have closed at $6.00 today and had a positive day.
We know that the CEO, Dr. Wilkomm has 50,000 shares that will vest in full at a price of $6.00 if the marijuana breathalyzer is submitted by the end of the year. He has incentive to the tune of $300,000 to get this thing done in the next 5 months. Time to see how much work ethic and drive this CEO has to get this done by the end of the year.
"We granted 50,000 options to an officer in January, 2016, which had a term of 5 years, but which only became vested if sales of $20 million and pre-tax income of 15% were achieved in 2018. If those targets were not met until 2019, then 50% of the options would vest and the remainder canceled. If those targets were not met until 2020, then 25% of the options would vest and the remainder canceled. On October 1, 2017 the option agreement was amended to provide a one year delay for meeting the sales and earnings targets with all other terms remaining unchanged. On January 25, 2019 the option agreement was amended to provide for an additional target, namely, if the product known as SpinDx™, including the marijuana breathalyzer which incorporates SpinDx™ technology, has been completed and submitted to regulatory authorities for review by or before December 31, 2019, all of the 50,000 options will vest in full, whether or not the sales and earnings requirements have been met. Each of the amendments to the original option agreement is deemed a new option."
"The Marijuana breathalyzer work continues as per their previous shareholder letter with management optimism high about a year end regulatory submission. Now that their core products have been updated it will be full speed ahead on the MJ breathalyzer."
This is the best we have as of right now.
We may get some updates with the quarterly report due out in the next couple days.
This the key area to break. $6.00. It's apparent that our seller still has shares to dump as he/she added 1,000 shares to sell at $6.00 and sold another 800 at $5.90 when the bid showed up.
This is promising that the current bids are not any of your shares. Someone else has decided to join the party. That's good!
If/when Lifeloc does have a reliable working marijuana/cannabis breathalyzer, we could absolutely see upwards of a $500 Million market cap. This could also happen to BLOZF if they were to prove their technology in the market. Remember that BLOZF was able to trade at a market cap of approx. $300 Million with no device, no revenues, no sales, no product, no anything. A $500 Million market cap/buyout for LCTC would put it at a price of approx. $203/share.
We know that the SpinDX technology works and is currently being used in various applications. It's time for Lifeloc to step up to the big boy table and show us some real world applications and progress being made.
LCTC has basically been in a sideways trading range between $4.00-$6.00 for over a year. Typically a break in either direction on good volume that occurs after a tight trading range for over a year will lead to a significant move. I believe that the break will occur to the upside but if our seller is not done, it can happen to the downside. I also believe the downside risk is $3.50-$3.25. If a break to the upside were to occur, we should at least see $8.00-$12.00 or a double from the current trading levels. We will most likely need a significant news release and/or insider buying to fuel a move to the upside. The longer it continues to trade in a sideways range the more severe the break in one direction will be. We are due for this break. We are due for a significant news release. We are due for a stellar earnings report and we are due for higher stock prices.
Breathalyzer Market is Anticipated to have a Colossal Growth Between 2019-2025:
https://onedigiclick.com/2019/08/01/breathalyzer-market-is-anticipated-to-have-a-colossal-growth-between-2019-2025/
This is the reason why I need to start seeing growth in the quarterly reports. Colossal Growth! Lifeloc can not just sit there with stagnant growth when the entire industry is just screaming with expansion. If the CEO can't realize this growth potential, maybe it's time for us to see him go.
The next hurdle is getting LCTC to trade above $6.00 and stay there. This is an important level to break.
With no assistance from management, it may take more than just me and you to get it there.
We do have a quarterly report upcoming and I need to see some growth. I have an inkling that even if we get a great report, it may not bring in the volume we need to get things moving.
We barely have 30,000 total shares traded for the whole year and this needs to change.
We continue to have a seller that just will not give up. He/she is relentless with with seems like never ending shares to sell. I'd love to know where these are coming from and how close he/she is to finishing.
We need sustained momentum, support on the bid side, and even the slightest support from management in regards to share price. Hopefully we see this by the end of the year and all will be well.
From the Congo to Mars: How Rapid Diagnostic Testing Saves Lives:
https://now.northropgrumman.com/from-the-congo-to-mars-how-rapid-diagnostic-testing-saves-lives/
The Department of Defense is working with government researchers and private labs to develop rapid diagnostic testing that can quickly sense biological threats similar to anthrax and treat them. In January 2019, scientists at the government-funded Sandia National Laboratories reported that they had developed a portable device called SpinDx that could analyze blood or bodily excretions for proteins and genetic material that indicate the presence of viruses, bacteria, toxins or even exposure to chemical agents.
I am fairly confident we will see it in our lifetimes.
However, I think we may have to come to the conclusion that Dr. Wilkomm may not be cut out to be CEO of this company. It has been empty promises, stagnant growth, and minimal effort to appease shareholders.
I am still perplexed and baffled how you can be given a grant of $250,000 from the state of Colo. to spend over 3-4 years and not put it all to work. If I recall correctly, they barely spent half of it. Someone should be held accountable. Your telling me you couldn't find any way to put that funding to work? Absurd.
If you/I were given the role of CEO I would think that we could grow this company at least 10%/year without even knowing the business. The entire sector has growth everywhere on the planet. When Barry Knott was at the helm we would see quarterly and annual growth. I need to see something from Mr. Wilkomm in the near future that would restore my faith in him as CEO.
It's amazing that a simple rehased PR from Cannabix yesterday can add twice the entire market cap value of Lifeloc in one trading day to the value of BLOZF.
Can't wait for the day that Lifeloc puts out a PR and it trades higher to the tune of twice the value of Cannabix. That's going to be awesome.
My latest communication with Dr. Wilcomm was as follows:
Greetings Mr. Wilkomm. As a long term investor in Lifeloc, I would like to see if we can build some momentum in the stock price and I would like to offer my services in any way possible to help bring investor awareness to the Lifeloc company. If there is anything that you can think of that would help in regards to social media, investor platforms, blogs, etc. just let me know. I know you also have a vested interest in seeing higher stock prices and we really haven't gone anywhere in almost 2 years. Lifeoc should easily be valued in par to that of Cannabix and it's not even close. See if you can put me to task in any way you see fit.
Thanks for your time.
I have received no response as of yet. This was sent a couple days ago.
I'd like to believe that Dr. Wilkomm is too busy to answer investor questions and is moving forward and acting in investors best interests.
With the move lower in Cannabix, we are getting closer to LCTC and BLOZF having a similar valuation.
I would have preferred it that LCTC actually traded higher to accomplish this but I believe time will tell. I stand firm that Lifeloc will trade higher and Cannabix will continue to drift lower by the end of the year.
Good luck to all involved!
Recent article that actually states Lifeloc is the running for the first marijuana breathalyzer!
https://stonegatecenter.com/marijuana-breathalyzers-the-good-the-bad-and-the-hopeful/
"Other companies like Cannabix Technologies and Lifeloc Technologies, makers of the alcohol breathalyzer, also have dogs in the fight. And with everybody claiming some sort of functional device that will accurately determine if a person is high, it’s now pretty much about who gets to market first."
Current market cap comparison:
BLOZF has about 106 million shares outstanding x $0.79 = $83.7 Million
LCTC has about 2.454 million shares outstanding x $5.62 = $13.7 Million
I can promise you at some point Lifeloc will have a higher valuation than Cannabix. Either Lifeloc moves higher (a comparable market cap would have LCTC at $34/share) or Cannabix continues to trade lower. I believe both will happen by the end of the year.
I am on board with all of your thoughts. I would single handedly lock up the entire float in this stock at these levels if I had the capital. The risk to reward is amazing. $3.50/share should be the absolute bottom. Upside is in the hundreds.
I believe Lifeloc is further along with the SpinDX and marijuana breathalyzer than most people think. If you recall the SpinDX technology is currently being used in various applications so we know that it works.
In addition, we have never been diluted as shareholders and I expect this to continue.
The major issue is it's only me and you that have any interest in this thing. Until we get exposure or insider buying, we are stuck at these levels. If we can get the $6.00 price level breached on good volume and hold above it, we should see some movement higher.
It would be great to see some interest come into Lifeloc in addition to just us. What is also discouraging is that we have yet to see any insider buying at these current levels. If I worked at Lifeloc, I would be all over these prices.
I also expect this quarterly earnings report to be the best they have had in while. If the current CEO is unable to get some growth by now, maybe it's time for him to depart. He seems completely uninterested in stockholder interest. I don't mind that as long as he performs. So far, I have not been impressed by his performance.
Maybe we get some good news soon and see this $6.00 level break to the upside and get things moving.