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After looking into it further, it looks like NIST is working with the University, not in conjunction with any company, but to support the industry as a whole. NIST is an agency within the US Dept. of Commerce, that, in part, works to advance measurement science, standards, and technology, to promote industrial competitiveness, and improve quality of life.
They see the need to standardize the measurement of THC in Breath Samples, and are working to provide the science and measurement standards for a reliable way to validate testing in breath samples. Simply put, they have Lifeloc's back. It's a government agency, working to prove the validity of testing for THC in the breath, which they say, may take a couple of years...
In the meantime, Lifeloc was on the correct path, by focusing on saliva based testing, which is now becoming widely adapted, and the testing method of choice for our current time. As NIST works in the background, Lifeloc can continue to adapt their technology to utilize breath samples vs saliva, after they have commercialized the SpinDx, saliva based test.
The need for a device to detect recent THC use is evident, and lawmakers, and our government want to bring it to fruition as soon as possible. More news, this time, much closer to home - working with the University of Colorado. Lifeloc is currently working with the University of Colorado, in testing of human subjects with their SpinDx device, so something tells me that there may be some sort of collaboration here ?
https://www.marijuanamoment.net/federal-researchers-explore-paradigm-changing-approach-to-detect-recent-marijuana-use-through-breath-tests/?
They have been traditionally slow to release pertinent information, if at all, until their quarterly reports. I have a feeling this may soon change, as their device nears completion. I only found the patent info by chance, a few minutes before the market close. Maybe we will here something early net week, which would be better than a Friday afternoon anyway.
It is a valuable piece of information, and should be treated as material news, and a press release should be issued in my opinion.
Good question. I'm sure that if it was not covered under the current licensing agreement, that Sandia would be open to discussing further applications. I think it's important to not get too excited about future diagnostics, and focus on the goal at hand, which is the development for drugs of abuse, firstly, THC.
I do find the inclusions that were listed, are very intriguing, and could be very valuable in the future. Lifeloc has it in their "back pocket," for now, and everything is starting to fall into place, and we, as early investors, should find this very exciting...!
Not sure about cancer and diabetes, although there has been studies done on early detection from breath samples. I think the value of the device, is that it will be able to give immediate, non-invasive results for the items listed in the patent app.. This can prove to be invaluable to first responders, in sporting events, bodybuilding competitions, mass outbreaks of GI or Respiratory Dx, pandemics as we witnessed with COVID, etc...
The additional disc Parameters can open the device to a much broader scope of testing capability in the future - such as immediate, on site testing for anabolic steroid use - Stanozolol and Oxandrolone, respiratory diseases and viruses - including COVID, gastrointestinal infections from E Coli, Listeria, and Salmonella, etc...
Although this is not the immediate scope of intention for the device, which is currently focused on detection of THC, and secondly, detection of other drugs of abuse, including Fentanyl, Meth, and Cocaine, it gives them the ability, and protection from a provisional patent, to expand their product line vastly in the future...
Patents almost always add value to a company in many ways. A patent application basically is a precursor to the actual patent. It gives the company a quick way to protect the invention for a year, while they put the finishing touches - testing, etc on the device. Basically a "Patent Pending" status. This about locks it up for Lifeloc, and it's intellectual property - giving Lifeloc a proprietary advantage over all of it's competitors.
I find the items I have copied from the Patent Application very, very valuable in my opinion...
9. The centrifugal micro-fluidic disk of claim 1, wherein one of the array of chemical detection sectors is a delta-9-THC detection sector.
10. The centrifugal micro-fluidic disk of claim 1, wherein the array of chemical detection sectors includes one or more of cocaine, methamphetamine, and fentanyl detection sectors.
11. The centrifugal micro-fluidic disk of claim 1, wherein the array of chemical detection sectors includes one or more of oxandrolone, stanozolol, and erythropoietin detection sectors.
12. The centrifugal micro-fluidic disk of claim 1, wherein the array of chemical detection sectors includes one or more of E. coli O157:H7, Listeria spp., and Salmonella spp. detection sectors.
13. The centrifugal micro-fluidic disk of claim 1, wherein the array of chemical detection sectors includes one or more of Streptococcus pneumoniae, Respiratory Syncytial Virus, and COVID-19 detection sectors.
14. The centrifugal micro-fluidic disk of claim 1, wherein the array of chemical detection sectors includes human or veterinary health diagnostic detection sectors.
In the News...
“There are now more options for officers to test for cannabis, and as a result, this has led to an increase in the detection of drug-impaired drivers.” Mathew Austin, Saskatchewan Highway Patrol
The majority (65%) of carriers and drivers surveyed have indicated they would prefer an industry-wide shift toward a test that indicates recent marijuana use (for example, the day before) instead of the current test that can identify earlier marijuana use.
There are different testing methods, and currently, in Canada, urine and oral fluid tests play roles in identifying recent versus past drug use. Davids explained that urine tests, for instance, detect substances over a longer period.
Meanwhile, oral fluid tests – which have been gaining increased popularity – are more effective in identifying recent use, particularly for THC, within the last 12 to 24 hours. Meanwhile, hair testing is not widespread since it detects cannabis use within one to three months, and blood tests are considered too invasive.
Driver Check, for example, uses oral fluid and urine tests to determine drug use.
https://www.trucknews.com/health-safety/canada-sees-steady-trends-in-marijuana-positive-tests-among-truck-drivers-since-legalization/1003187827/
In the first six months of 2024 we purchased SpinDx related test and other equipment totaling $64,249 and in 2023 $0. In addition, during the first six months of 2024 we invested $227,354 in space required for SpinDx related work that is not yet in service. We are estimating that completing and equipping this lab space will require an additional $300,000 during the last six months of 2024. We are optimistic about the results of the work to date and expect market introduction via beta testing later in 2024, which will continue in 2025, with a sales-ready device later 2025. SpinDx™ uses a centrifugal disk with micro fluidic flow paths allowing multiple tests to be carried out on a single small sample. The SpinDx™ platform has the potential to revolutionize real-time screening for a panel of high abuse drugs, with the ability to quickly and quantitatively measure very low concentrations of drugs such as cocaine, heroin, methamphetamine, fentanyl and others. 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. Resolving the psychoactive levels from metabolites is an important step in establishing impairment. We expect the initial release of the new product will consist of the SpinDx base reader unit, an oral fluid collection device and an analysis disk. We expect subsequent product releases will utilize the same SpinDx base reader and collection devices for samples from blood and from breath. We completed the upgrade of our base breathalyzer platform in 2019 (the LX9), and we remain committed to combining it with the SpinDx technology. If successful, this combination will result in a marijuana breathalyzer.
Quarterly report has been released, from a quick glance, nothing material seems to be reported. I have to take a little time to read over everything.
Yes, I have compared Lifeloc to TASR, or now known as AXON on this board before. It had a very similar structure, share price, and low float - with a product that was sold to the same market as Lifeloc's devices.. I traded TASR often back when it was under $10. Had I just invested $1,000, and let it run for ten years, I would have been tremendously rewarded. Now imagine a $10,000 investment, $20,000... 3,300% return in 10 years. Take a look at this article that shows it's exponential growth. With Lifeloc's low float, low market cap, and game changing device - in a "New America," where drugs of abuse are now become legal in most states, it is very possible that Lifeloc could see similar returns.
https://www.netcials.com/invested-1000-in-stocks-10-years-ago-nasdaq/AAXN-Axon-Enterprise-Inc/
Oral Fluid Testing will be the test of choice for the detection of drugs of abuse. It is very important to note, that the SoToxa instrument is only a qualitative test - it does not measure impairment, whereas the Lifeloc SpinDx device will give a QUANTITATIVE reading, giving a numeric value to the level of impairment. This is a very important difference in the two devices, and gives Lifeloc a huge competitive edge...
The SoToxa instrument provides either a positive, negative, or invalid result.
• A positive result is reported when the oral fluid sample contains at least the
minimum cut-off amount of a drug for each specific panel.
• A negative result is reported when the oral fluid sample does not contain the
minimum cut-off amount of a drug for each specific panel.
• An invalid result is reported when there is not enough oral fluid sample to
be examined.
A positive or negative SoToxa test result by itself does not determine driver impairment. The
SoToxa instrument merely provides an officer with additional information to consider during
an investigation
Interesting. I think Lifeloc may have only done one show in the past year, and now they are exhibiting in three different conferences, all coming up soon.
This is interesting - an article written by Baldwin a few years ago... Maybe someone should give him a heads up to why the stock is really moving, and that there's been more insider buying in the last year than just just over the past few days. I bet he doesn't even know that they are going to begin Beta testing the saliva based THC Spin Dx platform soon, or that they expect to begin commercialization next year, or that the device has the capability of detecting a whole array of drugs of abuse. I think he's still stuck on their alcohol segment, and is unaware of what is really going on...
https://moneymorning.com/2021/08/12/buy-this-4-micro-cap-stock-before-the-house-passes-the-infrastructure-bill/?fbclid=IwY2xjawETSnpleHRuA2FlbQIxMQABHb-NtSOd4G5_-uEZsssgZ-VgZhrLgrcwfwzL8H0VU8z8qlf6sRV1uElHew_aem_ODUZjlfREBaJQdW-qbveow
Two things...
First, I think we will know better about the insider purchases, and any effect on the outstanding share structure, when they report their quarterly in a couple of weeks.
Secondly, that guy Baldwin is either clueless, or has a vested interest in trying to get the stock price down, You have to ask yourself, "why would this guy even care enough to target a company, that has only traded several thousand shares to the upside." Who is he trying to protect? None of us on this board have even been talking about Lifeloc's alcohol segment recently. He definitely has an interest in the company/stock, or why would he bother? Is he short the stock? Maybe, or maybe he wants in at a cheaper price. Who knows. He has a good point about using limit orders, but that should just be common sense to anyone that has ever purchased a security online.
I used to trade millions of dollars a year, day trading stocks. I purchased LCTC back around 2014, making several small purchases in the $4 to $7 price range. In only a few short months, the stock rose into the $20's, and I took an over double profit in the $15's. Back then, I was more into trading vs. investing, and this was an easy trade - in an "illiquid stock" as Baldwin puts it.
I've owned hundreds of stocks in my lifetime. For some reason, this company and it's stock has always stuck with me. I have followed and researched this stock, it's management, revenue and profits, it's charts, it's insider buying, etc. since 2014. Lifeloc has primarily been mostly profitable throughout it's inception, with the exception of a brief period during Covid, which affected most companies, and a brief period recently, with the devotion of funds going to R&D of their Spin DX device. Maybe Baldwin should read a few of their 8k and 10k reports, which I doubt he has.
Sounds like the guy is from Baltimore. Maybe we should take him out to lunch at Jimmy's Famous Seafood, for some steamed crabs and a beer...
Lock it up...!
I've been purchasing this stock for years, and didn't sell a share when it went to $10 a couple years ago.
I guess you can say I have "Lonsdaleite" hands, as the meme stock traders refer to Diamond hands. $40 a share would put this at a modest market cap, which I believe this should be currently trading. Yes, it is a gift at the current price, and still under the radar of almost everyone.
Once they make a few PR releases, and the price/volume increases - everyone will love it. Now is the time to buy for the greatest returns, before that occurs.
I would assume the outstanding shares increased by the amount Edco purchased in the private placement.
An important thing to look at here, is that Edco has a vested interest in Lifeloc, and they felt confident enough to purchase more shares, not at a discount, but at $3.80 a share, which was the closing price yesterday. This is much better than issuing shares to a firm at a discount. The line of credit is also a great move - should management need some short term cash for marketing, distribution, etc., they can always tap that, instead of further diluting shareholder value.
Hopefully the new board member can provide an influx of new energy, into the social media, Press Releases, and marketing that this company needs so much.
They also obtained a $750,000 Line of credit, along with the private placement, which will assist in the roll-out of their new saliva based testing device for Delta-9-THC. It's happening ladies and gentlemen....
Lifeloc just appointed Adam Kashenberg to the Board of Directors. He is the President and CEO of BioLabs, and comes with an extensive background in Social Media, Sales, and Marketing skills.... They raised $800,000 through a private placement with Edco Partners - now we see what's going on... Great News...!
The Q-2 Quarterly Report should be released in a couple of weeks, I'm sure this will completely explain the recent purchases. Who knows, maybe we will get something material in the report as well...?
My guess is that these are stock options being exercised, to purchase the stock, all at the exercisable price of $3.80.
4. STOCKHOLDERS' EQUITY
The following table summarizes information about employee stock options outstanding and exercisable at September 30, 2023:
STOCK OPTIONS OUTSTANDING STOCK OPTIONS EXERCISABLE
Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life (in Years) Weighted Average Exercise Price per Share Number Exercisable Weighted Average Exercise Price per Share
$3.80 123,000 2.05 $3.80 123,000 $3.80
The exercise price of all options granted through September 30, 2023 has been equal to or greater than the fair market value of the Company's common stock at the time the options were issued. As of September 30, 2023, the 2013 Plan had expired and no options for our common stock remain available for grant under the 2013 Plan.
No options were granted during the three months or during the nine months ended September 30, 2023.
No options were granted during the three months ended September 30, 2022. A total of 15,000 options were granted to two employees during the nine months ended September 30, 2022.
No options were exercised during the three months or during the nine months Ended September 30, 2023 and September 30, 2022.
The total number of authorized shares of common stock continues to be 50,000,000, with no change in the par value per share. All of our common stock is designated as no par value per share.
Lifeloc Technologies CFO buys $173k of company stock
https://www.investing.com/news/company-news/lifeloc-technologies-cfo-buys-173k-of-company-stock-93CH-3537959
Insider Buying is always good. Whether this was a board approved stock option or grant, I'm unsure. If so, it would probably increase the outstanding shares by the cumulative amount. As of the record date of the Annual Meeting, there were 2,454,116 shares of Common Stock issued and outstanding. If this number increases, then we can conclude it was a result of Director compensation. This occurs all of the time in publicly held companies, and I would not look for it to affect the stock trading in a negative way.
https://www.investing.com/news/company-news/lifeloc-technologies-cfo-buys-173k-of-company-stock-93CH-3537959
Looks like 4 purchases, probably options, purchased for Vern and Michael Kornelson, Sieck, and Edco Partners.
Interesting to note that all were Indirect Purchases as Filed in Table 1 section 6, indicated with an I, and Edco Partners was a Direct Purchase, indicated with a D. Not sure how meaningful that actually is. I, honestly, am not familiar with the form, other that it indicates a Purchase (A) or Sale (D). Also, not that it matters, but they filed the wrong ticker symbol in Edco's filing as LCLC.
Lifeloc Technologies, Inc. (LCTC) is a subsidiary of EDCO Partners LLLP. On July 23, 2024, EDCO Partners purchased 210,000 shares of Lifeloc Technologies' common stock for $3.80 per share, bringing their total ownership to 2,065,319 shares. EDCO Partners also serves as a director for Lifeloc Technologies.
The controversy continues... Only to support the need for an actively impaired test vs. outdated testing systems, which can only verify drug use in the past several weeks.
https://www.marijuanamoment.net/federal-safety-board-says-marijuana-rescheduling-could-imperil-truck-driver-drug-testing-despite-transportation-secretarys-assurances/?
Another company that could gobble up Lifeloc with their petty cash "lunch money..." $40 is not far away...
I am certain that Draeger's Drug Test 5000 is only qualitative.
Directly from the Draeger web site - Owner's Manual:
3.3 Confirmation of results
The Dräger DrugTest 5000 test system is a qualitative measurement procedure. For a confirmed result, a second sample must be taken and analyzed
by an accredited laboratory.
Take the second sample with a collection system suitable for saliva samples.
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
It basically will tell you +/- for a specific drug. The tester has to take a second saliva sample, and ship it to a lab for further testing if +, to determine the numeric, or quantitative level. Lifeloc's device will give you a numeric reading for THC in ng/ml on site, within minutes. That reading will distinguish immediately if the subject is above, or below the legal cut-off limit for the state, country, or municipality - just like an alcohol breathalyzer would give a value, such as 0.10%.
The US Department of Transportation has established a limit of 4 ng/ml for THC. Other countries are now establishing similar cut-off limits for THC as well.
The DDT5000 is designed to be used at the roadside or after arrest, much akin to the portable breath test (PBT) devices used for alcohol testing. Unlike the PBT, the DDT5000 does not provide any numerical reading, limiting the utility of the devices to a roadside "screening" as opposed to a quantitative device. Even a positive result still requires confirmatory testing1. The DDT5000 only provides a qualitative result of a positive or negative sample, and Draeger, Inc. states in its manual that in order to obtain a confirmed analytical result, a more specific alternate chemical method is needed, such as Gas Chromatography/Mass Spectrometry. Thus, Draeger suggests that a second saliva sample be obtained and analyzed by an accredited laboratory.
The main, and significant difference between the Draeger device, and Lifeloc, is that Lifeloc's Spin Dx device gives a "Quantitative" measurement, whereas Draeger's device is simply Pass/Fail - Huge Difference.
An Important Note:
We need to differentiate a screening device from an evidentiary device.
In a screening device, analytical results are merely qualitatively identified as, in the case of the Dräger
5000 - POSITIVE or NEGATIVE (present or not present to a sufficient amount or, as in the case of breath
alcohol screening devices - Pass, Warn, or Fail).
A device is considered qualitative because no amount, concentration or quantity is measured – it
merely detects the presence of a specific substance in the test sample.
In a more complex evidentiary or quantitative device, the amount of the thing being measured is also
displayed (i.e, - 0.05 grams per 100mL, or 13 nanograms per millilitre, etc.). This degree of
sophistication would require substantially more calibration and control for reliable testing.
By identifying the Dräger 5000 as a screening device, Dräger is signifying the inherent limitations of the device, and that limitation should be respected as we examine its performance characteristics.
I don't like to speculate on things like acquisitions and mergers, without due reason, but I agree with you 100%, and I know Draeger is keeping a close eye on this space, and has been for years.
This stock is going to $40. EOM
US Department of Transportation set the THC Cutoff limit at 4 ng/ml, now Germany is following along, as well as other countries, in setting limits for driving under the influence of cannabis... I wonder how they are going to test these drivers to determine their THC levels...? If only a company could develop such a device, they could make hundreds of millions of dollars, and possibly save limitless lives.
https://aussiedlerbote.de/en/federal-council-approves-cannabis-limit-for-driving/
Lifeloc just made a post on Facebook, with a picture of the Spin Dx device, and thanked the shareholders for a wonderful Annual Meeting, and for their support...
Looks like their sales are now exceeding pre-pandemic levels, which is noteworthy in itself. Here's a copy of their PowerPoint presentation. https://lifeloc.com/pub/media/pdf/shareholderMeeting2024.pdf
Without getting too far ahead of ourselves, I'm curious as to what they have in mind when they state they plan on developing discs for testing beyond drugs of abuse? Is it medical testing for disease or viruses, such as Covid? Or could they be thinking rapid detection of biological agents - such as Anthrax, Ricin, Ebola, Botulism, Plague, Smallpox. Tularemia, etc...?
Looking far down the road, this could open a plethora of new revenue streams, including Homeland Security, Military, etc. I don't want to speculate too much on this now, just interesting that they included it in this year's Annual Report.
Another thing I don't want to speculate too much on, but interesting to note, that it sounds like they brought up Draeger more than once during the meeting. Draeger, a direct competitor of Lifeloc, has a Market Cap of nearly 1 Billion Dollars, is in 190 countries, and has over 16,000 employees. I have followed Lifeloc, and it's competitors, for many years, and can tell you that Draeger is keeping a close eye on the Marijuana/Drugs of Abuse Testing Sector, as well as the developments of Lifeloc's SpinDx device. I would not be surprised to hear more about discussions between these two companies in the future.
Great synopsis! Thanks for taking the time to do this. All very positive.
Line of credit is much better than dilutive financing ,but as I stated before, if Lifeloc could use extra cash to accelerate roll-out, marketing, etc., an extra 10 million + dollars in equity financing could be looked at very positively - as long as it was done with favorable terms. Quite honestly, if someone wanted to buy $10,000,000 worth of stock on the open market, it simply couldn't happen. So, Lifeloc management needs to keep shareholders in mind in regard to any equity financing. By this, I mean no death spiral financing, where every month, the company would issue shares of stock to the investor, at below market prices.
If I were management, I would consider this, but only do the deal at a price within 10% of it's current closing price, in one lump sum. This would also possibly achieve adding more liquidity in the trading of the stock, and possibly help meet criteria on eventually listing on a better exchange, such as the NASDAQ.
Everything else you summarized is very exciting, and we, as shareholders, should take a deep breath, and exhale. I'm sure there will be bumps in the road, but there is definitely beginning to be some light at the end of the tunnel.
Awesome ! Just got back to my desk. Will be grateful to hear about it...
And so it starts... Who wants to share their story ?
https://www.nytimes.com/2024/06/13/us/marijuana-road-safety.html
Yes, feel free to ask anything you feel pertinent. I am having some remodeling done on my home in Florida, and will be traveling a lot this week, between there, and my home up North, so I may not be available to attend the meeting. Hopefully it will be recorded, and I can listen in at a later time.
Well the annual shareholders meeting is on Wednesday, and I put in my proxy vote, not that it matters... I wonder if we will get any material news next week, or just same old generic meeting? I'm going to try to listen in, but not sure of my schedule.
A few questions I would like to ask are:
1. The current accuracy of the device can detect THC down to 10ng/ml, have you made improvements, and what is the end point goal in terms of accuracy?
2. You previously stated you had begun human trials, and had a framework in place to begin Beta testing of the saliva based system. Where do you currently stand as far as this Beta testing, has it begun? Any insight here?
3. In regard to marketing, and brand awareness, Lifeloc seems to be very complacent with their achievements thus far, and the share price suffers due to this. Do you have a plan in place to increase marketing, social media awareness, and attract investors ?
4. Do you still feel that you are on track to begin commercialization of the saliva based, SpinDx device next year, and if so, do you have an expected timeline to integrate this system with the LX9 Breathalyzer.
5. Do you feel that you have sufficient means to continue funding the development of this device organically, without the need to raise cash through borrowing or Equity financing?
6. What do you value the Saliva based SpinDx device at in terms of yearly sales forecasts after commercialization? What price point do you expect to come in at for the device, and any associated hardware/software. What is an estimated price of the consumable disks, and will these be manufactured by Lifeloc, or a third party.
7. Do you expect that this device will meet the requirements of most modern registration standards set in place by the US, and abroad?
Investors have been patient for many years now, going all the way back to 2014, when Lifeloc was awarded a $250,000 grant by the state of Colorado, to develop a marijuana breathalyzer. An investment in Lifeloc common stock in 2014 would be worth half now, at best, and probably much less. Lifeloc's Market Cap is currently much lower than it's peers competing in the same market. It's time to bring this company, it's common stock, and it's investors to the forefront.
Yes, an improvement in the equipment's accuracy would be a huge step forward. I worked as a lab tech for Dupont, in their electronic imaging systems department, and know that not only does their technology have to be accurate, but it has to be accurate in all environmental conditions, due to the fact that they will be testing roadside - in climates all over the world. Things like temperature, humidity, etc. can definitely impact accuracy of equipment. I can say with some certainty, that this is one of the obstacles they are dealing with...