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Highlights from the Shareholder presentation:
1) Company revenue at $8.4 million
2) 17th consecutive profitable year
3) Major upgrade of information infrastructure
4) Product rollouts starting after heavy R&D investment
Lifeloc seeks to grow and exceed $100 million annual revenue - I do believe this is possible within the next 3-5 years. However, I need to see quarterly growth at 10% or more. Lifeloc is in a sector screaming with growth and I have yet to see it translate into earnings.
1) EasyCal® G2 now shipping to some jurisdictions
2) New breathalyzer models LX9 and LT7 in production
3) New platform includes Lifeloc assembled fuel cells with a purchased sensor
4) EasyCal® update is also part of the new platform
5) Marijuana breathalyzer and SpinDx™ platform advancing
SpinDx Development Status:
• SpinDx methodology determined to be the most sensitive and discriminating portable method
• Technology already licensed and commercialized for other fields of use
• Lifeloc has existing channel to both Law Enforcement and Workplace markets
Detection of very low levels of THC has been demonstrated at Lifeloc
utilizing SpinDx.
Marijuana Vapor Capture
• Demonstrate THC detection from marijuana smoke
– Strong signal collecting on optimized media
Lifeloc Growth Summary
Invest as needed in the core business investment continues, so that core will fund growth opportunities for years
Core growth expected as new platform opens market opportunities
Shift to recurring revenue business model: RADAR, data management
Marijuana breathalyzer is an enormous need with a potential solution in development, accelerate with freed resources
Investor Relations
Lifeloc seeks to develop an active following and market for our stock, to realize value and unlock liquidity for our patient, insightful shareholders
Presented company pitch MicroCap Investor Conferences
Developed an investor relations mailing list
Aspire to uplisting to NASDAQ
Ramp up profile through press releases, at a minimum quarterly earning releases and committed resources for social media
Lifeloc Annual Shareholders meeting Presentation:
https://www.lifeloc.com/download/shareholderMeeting2019.pdf
Henry Schein has starting advertising and selling Lifeloc Products:
https://www.henryschein.com/us-en/shopping/ProductBrowser.aspx?categoryname=LifeLoc+Technologies&browsingmode=m&Reset=4294401561&N=4294401561&cdivId=specialmarkets_d&gclid=EAIaIQobChMI6POBgM2m4wIVRR6GCh1rwQ_gEAMYASAAEgIyefD_BwE
Henry Schein is a company that has a market cap of over $10 Billion and did $13 Billion in revenue last year.
Lifeloc looking for a Manager of Engineering:
https://www.indeed.com/jobs?q=lifeloc%20&l=Aurora%2C%20CO&advn=712756406418647&vjk=4cb2a288d7ed1e83
Plans and directs all company engineering activities, including but not limited to sustaining engineering, new product engineering and technology development, as well as outside contractor oversite and management.
Responsible for successful manufacturing handoff of new products and designs.
Directs and controls all new product development and current product customization activities.
Ensures that new products and custom products are fully and correctly defined, documented and tested.
Looks like this job offering is making a push towards new product development which is something I definitely like to see more of.
The total traded volume in LCTC over the last couple months has been abysmal:
June volume LCTC 949 total shares
May volume LCTC 1102 total shares
April volume LCTC 138 total shares
March volume LCTC 2385 total shares
Obviously we are not getting any help from management or insiders so I'm wondering if there is anything the shareholders can do to bring some awareness to this company. I'm up for anything.
I would like to see Lifeloc present again at this years MicroCap Conference in Sept. in NY. As far as I can tell they are just listing previous presenters at this point:
https://microcapconf.com/?utm_source=customer&utm_medium=email&utm_campaign=fis-2019-investor
Colorado-based Lifeloc Technologies is banking on new product offerings to make it the world’s leading provider of real-time alcohol and drug abuse detection, with biometric technology playing an important role:
https://findbiometrics.com/breathalyzer-kiosk-specialist-biometric-tech-507071/
In the company’s latest quarterly update, it indicated that the flagship breathalyzer model of its new platform, the Lifeloc LX9, has gone into production, while the latest model of its Real-time Alcohol Detection and Reporting, or R.A.D.A.R., device – billed as an alternative to incarceration for offenders – has gone into prototype testing. Importantly, the R.A.D.A.R. solution features built-in biometric technology to verify the identities of subjects undergoing testing.
“We have been investing aggressively in product development to achieve this vision, focusing on a few major product developments that are expected to have a significant impact on our performance,” the company stated in its update. “We are now at the point where we will start to reap the benefit of these investments.”
Law Enforcement Has No Way To Roadside Test For Marijuana Impairment While Driving As Legalization Looms:
https://chicago.cbslocal.com/2019/06/19/drivers-influence-marijuana-crash-illinois-legalization/
Currently, no validated roadside tests are available for use by law enforcement in Illinois. The current process for proving level of impairment would be to perform a blood test. Driving under the influence of cannabis without these tests is a significant problem today and we are concerned that with adult use approval that this issue will only get worse.
Drivers Who Smoke Weed Don’t Think They’ll Get Arrested For Driving High
https://dfw.cbslocal.com/2019/06/19/drivers-smoke-marijuan-driving-high/
According to experts, it takes less than four hours for one to experience the “impairing effects” of marijuana and users who drive high are up to twice as likely to be involved in a crash.
More Americans driving while high, underestimating dangers of marijuana impairment:
https://abc7.com/aaa-more-americans-driving-while-high-underestimating-dangers-of-marijuana-impairment/5353190/
It's pretty sad to see this stock trading at a new all time low.
I don't see how it traded right through the bids in the low $4.00's.
Lifeloc currently has a market cap of just $8.5 Million.
The entire float could be locked up for less than $1 Million.
1 of maybe 10 stocks on the entire OTCBB and pink sheet markets that is profitable every year and we sit at all time lows.
Utterly disappointing to say the least.
Lifeloc Reports First Quarter 2019 and Shareholder Vote Results:
http://pdf.reuters.com/htmlnews/htmlnews.aspi=43059c3bf0e37541&u=urn:newsml:reuters.com:20190517:nBw9z4RvGa
Our vision is that Lifeloc becomes the world’s leading company in real-time alcohol and drug abuse detection and monitoring. We have been investing aggressively in product development to achieve this vision, focusing on a few major product developments that are expected to have a significant impact on our performance. We are now at the point where we will start to reap the benefit of these investments.
The premier breathalyzer model of our new platform, the Lifeloc LX9, went into production during the quarter. The LX9 satisfies many market needs for performance and connectivity and combines these features in one easy to use package. To support the new platform, our patented Easycal® calibration station has been upgraded to the Easycal G2 second generation calibration station. This model is compatible with our existing installed base of professional breathalyzers as well as the new platform. The G2 model includes RFID (Radio Frequency Identification) reading of calibration standard data, which further automates the calibration process.
Likewise, the new model of the R.A.D.A.R.® (Real-time Alcohol Detection and Reporting) device is moving forward. Prototype devices are in testing, with production expected later this year. R.A.D.A.R. devices are alcohol monitoring units which can be used as a tool to supervise offenders as an alternative to incarceration. Onboard biometrics automatically verify the identity of the test subject. R.A.D.A.R. devices are a critical step in moving our business towards a recurring revenue model.
Our marijuana breathalyzer remains a key target for product development. The continued broader legalization of marijuana only increases the need for a rapid, quantitative roadside test to identify drivers under the influence of marijuana. The completion of other projects will allow resources to be redirected towards accelerating this effort. The ability of our technology to detect delta-9-THC down to a concentration of 5 nanograms per milliliter and to collect a testable sample from a vapor stream has already been demonstrated in our laboratories. Detection of THC is accomplished through the SpinDx technology, licensed exclusively by Lifeloc Technologies for drugs of abuse from Sandia National Laboratory. More work is needed to convert this technology into a simple-to-operate device suitable for roadside testing.
Lifeloc Technologies Annual Shareholders Meeting May 6, 2019:
https://www.lifeloc.com/download/shareholderMeeting2019.pdf
Lifeloc seeks to grow and exceed $100 million annual revenue
SpinDx Development Status:
•SpinDx methodology determined to be the most sensitive and discriminating portable method
•Technology already licensed and commercialized for other fields of use
•Lifeloc has existing channel to both Law Enforcement and Workplace markets
Lifeloc seeks to develop an active following and market for our stock, to realize value and unlock liquidity for our patient, insightful shareholders
Aspire to uplisting to NASDAQ
Ramp up profile through press releases, at a minimum quarterly earning releases and committed resources for social media
SpinDX - Improved Detection of Emerging Diseases on a Centrifugal Microfluidic Diagnostic Platform:
https://www.osti.gov/servlets/purl/1507644
SpinDx is intended as an inexpensive, portable, quick, and reliable point of care (POC) diagnostic device.
SpinDx is a field ready, battery powered, self contained platform applicable to such situations. It is a centrifugal microfluidic platform capable of performing highly sensitive detection of proteins from pathogens from untreated samples such as whole blood or saliva in under 30 minutes.
The disease panel developed and the improvements made to conjugation methods serve to broaden the scope of capabilities of SpinDx.
Key Takeaways from quarterly report:
Total Assets = $8,585,355
Lifeloc has $3.50/share in assets
Revenues were down for the quarter - In my personal opinion, this should not be happening and is a complete disappointment. Every segment that Lifeloc participates in is screaming with growth. As shareholders, we should expect at minimum in line growth with the overall sector. No excuses.
Net income was higher year over year and I would expect this to continue throughout the quarters. I still fully expect total year end 2019 revenues to be over $10 Million. Everything should be in place to exceed this number.
The SpinDx™ platform has the potential to improve real-time screening for a panel of high-abuse drugs, with the ability to efficiently and quantitatively measure relatively low concentrations of drugs such as cocaine, heroin, methamphetamine and other high-abuse drugs. We intend to use this technology, sometimes referred to as "Lab on a Disk", to develop devices and tests that could be used at roadside, emergency rooms and in workplace testing to get a rapid and quantitative measure for a panel of such drugs of abuse. We have detected delta-9-THC (the primary psychoactive component of marijuana) down to concentrations of 5 nanograms per milliliter in our laboratory. This includes resolving the psychoactive delta-9-THC from its inactive metabolites, an important step in establishing impairment. We upgraded our base breathalyzer platform in 2018, and we remain committed to combining it with the SpinDx™ technology. Our goal is to use this combination to develop a THC breathalyzer.
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 in Q4 of 2018 and are nearing completion of work in improving the manufacturability of R.A.D.A.R.® devices, which we expect to launch in the first half of 2019.
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.
Our 2019 operating plan is focused on growing sales, increasing gross profits, and increasing research and development efforts on new products for long term growth.
Quarterly Report is out for Lifeloc first quarter 2019:
https://www.sec.gov/Archives/edgar/data/1493137/000107997319000268/lifeloc_10q-033119.htm
Thanks for the update. I am going to make it a point to attend and participate in next year's Annual meeting. By this time next year I fully expect Lifeloc to be rocking and rolling.
"Management optimism high about a year end regulatory submission." - That's the money shot. It's great to know that they are now all in and full speed ahead on the Marijuana/Cannabis breathalyzer.
Good stuff. Hope to hear again from you soon!
As far as I know the Drager DrugTest 5000 roadside testing device is the only instrument currently being used to detect the presence of drugs in a driver.
https://globalnews.ca/news/5242672/drager-roadside-tester-false-positives/
Key Takeaways:
A Vancouver lawyer says her suspicions about the new Drager DrugTest 5000 roadside testing device have been confirmed after her law firm ran two days of testing that turned up false positives.
The device has been called into question before, with independent testing finding the Drager stopped working altogether in temperatures lower than 4 degrees Celsius.
Lee said Ottawa should conduct further testing and potentially recall the device until the government is positive it can be effective — or find another device that is.
“They relied on an assurance from the manufacturer that they had tested the device, but the literature provided said they only tested half a dozen things,” she said.
“We need to put more effort in this country into finding a device that can tell the difference between something that’s impairing a person and something that’s merely present in their system.”
For the Love of Lifeloc . . .
Let's get moving because the time in now!!!!
Utterly disappointing. We have yet to trade over 100 shares in the entire month of April.
It certainly appears to be more of the same from Lifeloc in 2019. I don't think anyone is going to argue with that.
Although we have not traded a single share in what seems like months, it does appear that all of the employment opportunities and job offerings at Lifeloc have been filled. That's good news:
https://www.linkedin.com/jobs/search/?keywords=lifeloc%20technologies
https://www.linkedin.com/jobs/view/manager-of-engineering-co7723441-at-lifeloc-technologies-1133133334/
https://www.linkedin.com/jobs/view/electronic-assembly-technician-co7763569-at-lifeloc-technologies-1177786680/
https://www.linkedin.com/company/lifeloc-technologies/jobs/
Key Takeaways include the following:
Cannabix has lost money every single year since inception (Over $6.7 Million total)
Each year Cannabix adds over 10 Million shares outstanding - diluting current shareholders
There has never been a sale or source of revenue since going public
Money going into R & D has never been over a Million $/year
EPS has always been negative and that will most likely be the case for 2019
Now let's compare to Lifeloc:
Lifeloc has made money every year since inception - (Over $43 Million since 2014)
Lifeloc has had sales/revenue of $8 Million or more every single year since 2014
Lifeloc has over $1 Million/year going into R & D efforts since 2014
Lifeloc has never diluted current shareholders - This is amazing. There are only a handful of companies that can say that.
Lifeloc has has positive EPS every year since becoming a public company
And recall that the preliminary work being done on the SpixDx technology began way before Cannabix even became a public company.
Bottom line - Lifeloc deserves to be valued at minimum to that of BLOZF
$45/Share - First price target.
This side by side comparison should put everything into perspective.
In my personal opinion, after doing this comparison I believe LCTC should trade at a 2-5 x multiple to that of BLOZF.
Let me know your thoughts/opinions on these findings.
Thanks and all the best!
Check out this side by side comparison of the annual financials for Lifeloc Technologies and Cannabix Technologies:
https://www.marketwatch.com/investing/stock/lctc/financials
https://www.marketwatch.com/investing/stock/blozf/financials
Have you ever made it to an annual shareholders meeting?
Any chance you think you will make it out this year?
Welcome aboard. I think it's fair to say that everything you could ever want to know about Lifeloc technologies is scattered throughout this message board.
I believe we would all agree this company deserves to be valued at a market cap at minimum similar to Cannabix.
One of two things is going to happen:
We are looking at the investment opportunity of a lifetime or this continues to be dead money for the foreseeable future. My money is on the first scenario and I have outlined why I believe this to be the case. I just don't have the timing but I know we are seeing new all time highs at some point.
Good luck!
I would have liked to see at least some volume come in after such a good news release and annual report. That pretty much lets me know it's just me, you and Energy Manager that are paying any attention to this stock and placing any orders. I would love to take the whole float down if given the chance in the $4.00-$5.00 range but I am working on freeing up some capital now. I wouldn't mind locking down the float between the handful of investors here.
Have you ever seen a better risk/reward scenario in the history of all your stock trading/investing?
Would you agree that Lifeloc will never trade below $3.50/share from here on out? That would be the absolute bottom that I can see. So basically at a current price of $5.00/share your maximum risk is $1.50/share. Compare that to the possible upside.
Lifeloc is by far the absolute best risk to reward that I have ever seen.
At minimum Lifeloc should have a comparable market cap to BLO/BLOZF.
When we start seeing these opportunities you mentioned come to fruition, there could easily be a potential buyout from a competitor/private equity firm. This company and it's future prospects make it a no brainer at such a low market cap.
$50 Million - $250 Million would be a very conservative buyout price target as far as I'm concerned.
Here is a comprehensive list of Lifeloc's Patents:
The following Lifeloc products are protected by patents in the United States and elsewhere.
https://www.lifeloc.com/download/productPatents.pdf
I am counting 38 patents (Not including other patents pending).
Introducing the most comprehensive alcohol offender supervision and monitoring system available anywhere in the world today:
https://www.lifeloc.com/radar
Looks like the R.A.D.A.R. Alcohol Detection and Recognition System is ready to go!!!!
One thing that has not been mentioned is the possibility of utilizing the RADAR device for use in testing for marijuana.
https://www.insidernj.com/press-release/pennacchio-legal-weed-bill-must-include-marijuana-drug-testing-mandate-public-transit-drivers/
"Senator Joe Pennacchio (R-26) urged the bill sponsors to include a mandate for continued drug testing for public transit drivers so that any driver who tests positive for marijuana is not allowed to put commuters at risk."
“We have no way of knowing whether that transit driver smoked an hour before or a week before they got behind the wheel, but that’s not a chance I’m willing to take."
“Until we have a breathalyzer-equivalent that can confirm drugged driving on the spot, public transit employees who test positive for marijuana must be held accountable for potentially putting commuters in harm’s way.”
Yet another potential lucrative opportunity for Lifeloc in the marijuana monitoring area.
Highlights from the Lifeloc Annual Report:
We upgraded our base breathalyzer platform in 2018, and we remain committed to combining it with the SpinDx technology. Our goal is to use this combination to result in a THC breathalyzer.
We completed upgrading our base breathalyzer product in Q4 of 2018, and are nearing completion of work in improving the manufacturability of R.A.D.A.R.® devices, which we expect to launch in the first half of 2019.
Our acquisition strategy involves purchasing companies, development resources and assets that are aligned with our areas of interest and that can further aid in our entering additional markets. We expect to actively research and engage in the acquisition of resources that can expedite our entrance into new markets or strengthen our position in existing ones.
Accordingly, we expect to continue to invest in research and development. We spent $1,121,827 and $1,076,763 during 2018 and 2017, respectively, on research and development, and on sustaining engineering. The amount spent in 2018 was higher than the amount spent in 2017 due primarily to upgrading the R.A.D.A.R.® assets and our base product, as well as the SpinDx™ technology. We expect to increase our emphasis on new product development efforts for existing and new markets.
As of December 31, 2018, we had 67 shareholders of record. (We lost about 10 shareholders since last reported)
We believe the installed base of our breathalyzers will increase as the inherent risks associated with drinking while driving or while working in safety sensitive jobs become more widely acknowledged and as our network of distributors and our direct sales force grows. We believe that increased marketing efforts, the introduction of new products and the expansion of our sales network may provide the basis for increased sales and continuing profitable operations.
We expect to increase sales in the U.S. and worldwide as our network of direct customers and distributors grows and becomes more proficient and expands the number of new accounts. Our growth efforts have focused on expanding our global reach and broadening our product offering in alcohol and drug detection.
We expect to increase our research and development expenses to support refinements to our products, and the development of additional new products.
Our product sales for the year ended December 31, 2018 were $8,104,003, an increase of 6% from $7,629,474 for the same period a year ago.
We believe increased sales efforts, along with the re-launch of the R.A.D.A.R.® Mobile Devices, may result in improved revenues in 2019 and beyond.
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, with particular emphasis on completing SpinDx™.
Our 2019 operating plan is focused on growing sales, increasing gross profits, and increasing research and development efforts on new products for long-term growth.
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.
We believe it is probable that one of the performance targets will be achieved in 2019.
Due to a need for the space for our own use, we agreed to release one of our tenants from their lease expiring in July 2020.
Great work on these findings. In your opinion what do they mean when they say, "one of the performance targets will be achieved in 2019."
The completion of the marijuana breathalyzer is one of the performance targets but what else are the other targets?
I have to agree that the wording 'probable' (especially when it comes from Lifeloc) is very promising.
Who in the world sells 3 shares? I have noticed that there is a constant seller who really does not want to see this stock trade higher. They will knock it down with 100 shares at a time and even sell these odd lots just to see it trade lower. I have no idea if there is reasoning behind this but it has happened on multiple occasions and only when the stock seems to trade higher.
Did you get a chance to dig into this full annual report yet? I haven't had a chance yet.
This is indeed a step towards eventual uplisting. I believe we can see an uplisting to a major exchange by the end of the year.
At this point, all energy, efforts and funding should be concentrated on the SpinDX technology and the marijuana breathalyzer. I wonder if they filled any of those recent job listings?
This is an excellent point:
Lifeloc is in the best position - better than any competitor to bring a successful product to market. Being first would be nice, but first is not always best. You see, Lifelock has many years of experience in this market. They have an existing customer base, not only in the US or Canada , but I all over the world. It would be relatively easy to roll a "new product" into their existing customer base. Don't forget all of the regulatory hurdles that exist with bringing a new product to market - Lifeloc knows what is expected of bringing a breathalyzer to market from years of experience. They will have their ducks in a row when the news releases start.
The key here is Lifeloc knows what is expected from regulations to distribution. No other competing company (public or private) can say that.
Comprehensive Annual Report is out for Lifeloc:
https://www.sec.gov/Archives/edgar/data/1493137/000107997319000151/lifeloc_10k-123118.htm
"We are pleased to facilitate easier trading for our shareholders," said Dr. Willkomm. "Not only does becoming DWAC/FAST eligible provide our existing shareholders with new efficiencies, but we hope for more liquidity and better valuation in the open market, allowing us to continue expanding our shareholder base,"
Easier trading for shareholders - Great!
More liquidity - Excellent!!
Better valuation - Fantastic!!!
Expanding shareholder base - Wonderful!!!!
If you would like to accomplish these amazing tasks, here's a couple areas of interest that would help:
Increase awareness on social media - The Lifeloc social media area has been weak for years.
Consider a stock split to increase the float. Lifeloc has one of the lowest stock floats in the entire marketplace.
Work on an uplisting to a major exchange instead of being considered an OTCBB penny stock.
Hire a PR firm to disseminate important news releases. The only time we as shareholders receive news is when an earning report is released. Keep us updated on progress being made and any other material developments.
According to this new report from Data Bridge Market research, the Global alcohol sensor market is expected to reach USD 4.33 billion by 2026 from USD 1.55 billion in 2018 and is projected to grow at a CAGR of 13.7% in the forecast period of 2019 to 2026:
https://www.marketwatch.com/press-release/global-alcohol-sensor-market-2019-analysis-by-top-companies-like-dragerwerk-ag-co-kgaa-abbott-alcohol-countermeasure-systems-corp-alcopro-giner-inc-honeywell-international-inc-2019-03-15
I would expect Lifeloc to grow at an annual growth rate of at least 13.7% in the coming years.
Lifeloc has set a goal to be a Billion Dollar business within 10 years. For this to occur, they really need to get moving. I know I have stated this before, but Lifloc continues to captures less than 1% of the alcohol sensor market.
There is so much room for growth and opportunity here. Keep in mind this is just in the alcohol market. The drugs of abuse market is a whole other animal and should have growth much greater than the alcohol market.
It appears that the race is on with Hound Labs set to roll out the first field test in the fall and $34 Million in funding backing them. That obviously pales in comparison to Lifeloc's R&D efforts so far but you have to remember that the SpinDX technology is backed by Sandia (which is a company that has a budget of over $3 Billion) and wholly owned subsidiary of Honeywell International.
By the end of this year, we should absolutely have more clarity as to who is leading this race towards the first marijuana breathalyzer.
Should start to get interesting very soon.
Good luck to all involved!
Here's what we know about Hound Labs:
California startup Hound Labs is getting ready to roll out the world's first marijuana and alcohol breathalyzer.
The device will be tested in pilot programs with law enforcement and a labor union, and will work similarly to an alcohol breathalyzer.
Based in Oakland, Hound Labs has raised $34 million in funding and has notable investors like Dick Wolf, the creator of hit TV series 'Law & Order.'
With the device’s first field test set to roll out in the fall.
Almost five years later, Hound Labs are closer than ever to unveiling their project to the public. There are plans for a limited rollout this fall to law enforcement and a “nonprofit trade union that represents more than 35,000 construction workers in Northern California,” according to the Business Insider article.