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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...
Germany is cracking down on marijuana impaired driving, as well as completely banning driving if you have used both alcohol and marijuana.
They have set a THC limit of 3.5 ng/ml. Setting this limit, paves the way for a quantitative test to measure THC levels in impaired drivers - just as the US Department of Transportation has set a cutoff limit for THC at 4 ng/ml.
https://www.marijuanamoment.net/german-lawmakers-approve-changes-to-marijuana-legalization-law-addressing-social-clubs-and-impaired-driving/?
My guess is that it was a balancing of shares for the MM's - hopefully in preparation for some good things to come. I noticed that after the 25,000 share trade, INTL was running the show for a day or two, whereas NITE had been the MM in charge up to that point.
As far as not getting your orders filled, you can always call your broker, and see if they can do anything for you. I had the same thing occur years ago, trading a stem cell stock. My trade never executed, even though thousands of shares traded well above, and below the limit price. I called my broker, they called the specialist, and my trade executed after hours at my original limit price, even though the closing price was well above my buy limit order.
As far as social media goes, I agree Lifeloc is missing the boat. I have owned several businesses, and I currently own a garden center and seafood business. Social media has been a huge, and very inexpensive way to advertise and build your brand. If we finally get some good news, it will be easy for the few of us on this board, to hit up Twitter and Facebook stock groups to spread the word. I've tried this in the past, and at least tried to get people to put it on their radar, but without any substantial news, traders just move on to "stocks in the news..."
Chart still looks good. The technicals remain very positive for LCTC - without going into a long, in depth explanation, Barchart does a good job at explaining. I'm actually excited to see a $75,000 trade occur, and hope there's more to come...
https://www.barchart.com/stocks/quotes/LCTC/opinion
Great synopsis! Just to add a little more fire to the flame, there are now more daily marijuana users in the US than daily alcohol users...
https://apnews.com/article/marijuana-cannabis-alcohol-use-disorder-daily-9cec33f3ac513123c8ffc8b8b3141877?utm_campaign=TrueAnthem&utm_medium=AP&utm_source=Twitter
Be prepared to start hearing this more and more....
https://www.marijuanamoment.net/ted-cruz-suggests-marijuana-rescheduling-might-lead-to-more-people-dying-in-car-crashes-from-impaired-driving/?
It's painful to watch Cannabix (BLOZF) triple in price in just a few short weeks... They hired three marketing firms to pump their company, and just teamed up with Omega Labs to help commercialize their product.
The thing is, Cannabix is in a much disadvantaged position compared to Lifeloc. Their product is no further along than Lifeloc's, and they are further diluting investors by teaming with Omega, and allocating 1,000,000 shares of BLOZF, and 11,000,000 Warrants to Omega for their partnership agreement.
Cannabix also just came out with a fix mount alcohol breathalyzer, much like Lifeloc's Sentinel - which has been in use for years... I just don't get it...
In Lifeloc's defense, you can't simply create news releases, if there is no substantial news to release. The same goes for quarterly reports - you can only report factual results. Hopefully, the day will come when Lifeloc gets it's full recognition - hopefully sooner than later (as we watch all of these companies in the sector skyrocket in price per share).
On a positive note, there is only a little over 6 months remaining in the year. If Lifeloc can actually produce what they say they will in 2024, we may eventually see the kind of moves that are currently occurring in these other companies, such as BLOZF and CGC...
Well, the quarterly report is out, and I did not see anything really good, or really bad about the report. It was a standard report, much like all of Lifeloc's financial reports. Sounds like inflation and R&D costs are biting into profits, which we new going into the "final push" of development of the SpinDx device, that management is prioritizing development of the marijuana breathalyzer over short term profits.
I don't think it has anything to do with age. Lifeloc is attending some of these conferences/trade shows, and making progress in their development of the "marijuana breathalyzer." The CEO has demonstrated a very strategic effort, and has financed the entire R&D by utilizing existing cash flow, without borrowing or diluting the stock - which investors should applaud. They are very experienced in this field, and know the paths to regulatory approval vs. some of their competitors.
You can't make a press release without "material information." If you do, and continue to pump your stock without any substantial basis, you just set the company up for class action lawsuits by disgruntled shareholders when the stock gets pummeled. Companies use "Safe Harbor" statements in their releases, but they are not foolproof. Lifeloc has been very conservative in releasing any press releases, that's why I feel when they do have some positive material information to release, shareholders should be pleasantly rewarded.
Cannabix has had no income, and continues to dilute shareholder equity. Their stock has more than doubled in just a few short days - all on a stationary alcohol breathalyzer for offenders, much like Lifeloc's Sentinel, which has been in use for years... Lifeloc's RADAR device is lightyears ahead of Cannabix's new device, they just need to work out the biometrics in the RADAR system, and it will come to fruit.
I can feel the momentum building, and my opinion is that Lifeloc will come out on top, as will it's investors - which have been very, very patient.
The fingerprint tests are pass/fail, whereas Lifeloc's product gives a quantitative measurement - meaning Lifeloc's product is superior in proving a subject was over a specified limit. DADDS https://dadss.org/ is developing two products for alcohol tests in automobiles, and is probably the farthest along in that area - again, not for police/court use, only to act as an interlock device - which Lifeloc sells a good deal of their products to other interlock companies. Fuel cell technology remains the far superior method of testing, and Lifeloc actually manufactures it's own fuel cells for use in it's testing devices, as well as purchases some from other manufacturers.
Codeine is an opioid, and substance of abuse, but it sits low on the list compared to fentanyl, heroin, cocaine, Meth, Marijuana, etc.
Lifeloc gave a good synopsis of their competitors in their latest filing...
Competition and Markets
We sell our products in a highly competitive market and we compete for business with both foreign and domestic manufacturers. Most of our competitors are
larger and have substantially greater resources than we do. In addition, there is an ongoing risk that other domestic or foreign companies who do not currently
service or manufacture products for our target markets may seek to produce products or services that compete directly with ours.
We believe that considerations regarding competition for sales of alcohol monitoring products and services include regulatory approvals, product performance,
product delivery, quality, service, training, price, device reliability, ease of use and speed. We sell certain of our components to customers for incorporation
into their own product lines and for resale under their own name. We believe that, while our resources are more limited than those of our competitors, we will
continue to compete successfully on the basis of product innovation, quality, reputation and continued customer service excellence.
One of our leading competitors is Intoximeters, Inc. of St. Louis, Missouri, a long-established company with strong name recognition in the field of alcohol
testing. It has well-established sales channels, a large customer base, and a broad product line. CMI, Inc. of Owensboro, Kentucky, another major competitor,
also has a well-established name, a strong position in stationary units used in police work, and international market coverage. Drägerwerk AG & Co. KGaA,
based in Germany, manufactures safety and gas testing equipment. Its breath alcohol testers are respected for their quality and performance.
Our competition in the development of a marijuana breathalyzer includes Cannabix Technologies, Inc., a developer of marijuana and alcohol breathalyzer
technologies for law enforcement, workplaces and laboratories that is working on developing delta-9 THC and alcohol screening devices, and Hound Labs,
which is also developing a marijuana breathalyzer. Both competitors in this space have raised significant funds to develop their testing technology.
In addition, other technologies for the measurement of breath alcohol exist and are employed in other market and application segments where the technology
may be more suitable or developed to specific requirements. These include:
• Infrared devices, which use infrared light absorption to detect breath alcohol. These devices generally lack portability, and are usually found in fixed
locations, such as police stations, where subjects are brought for testing. This technology has the advantage of being mandated by law in most states for
evidential use in breath testing.
• Semiconductor breath testing technology, which is used primarily in consumer breathalyzers. Its primary advantage is low cost, but the technology is
not widely accepted by professional users as being as accurate as fuel cell technology.
• Chemical tests, which are based on urine and saliva testing. This approach to alcohol testing is more invasive, less convenient than breath testing, and
may require subsequent analysis for results.
• Blood alcohol tests, which require blood samples. These tests are widely believed to be the most accurate form of alcohol testing because they measure
blood alcohol content directly from a sample of the subject's blood. However, the results are not instantaneous, and the tests are more invasive and
expensive than breath alcohol testing
“Want to smoke weed at home? Smoke weed at home. If it’s legal, fine,” said ATA President Chris Spear. “Do not get behind the wheel of an 80,000-pound vehicle. We need to have strong standards, and we need to enforce the law.”
https://www.marijuanamoment.net/record-number-of-truck-drivers-refuse-to-take-drug-tests-as-more-states-legalize-marijuana/?
They still plan on introducing the product this year, and have identified the end users for Beta Testing, and have them in place - which is good. The fact that they improved accuracy by 50% is a great advancement. I believe they are still on the same timeline/track, but are simply giving themselves some breathing room for what the CEO calls their "Final Push" to commercialization, or a way of "sandbagging." Introducing the product this year is enough for me, and I would expect a great market response to it, in terms of share price. Commercialization would be the next milestone, and if/when it occurs, again - an overwhelming market response would be expected in my opinion.
I took my time, and read through both the 8k, and 10k. A lot of my questions I presented on a post last week, were answered in the reports. They discussed their competitors - including cannabix, Hound Labs, and Drager, as well as the huge amount of money that their competition had to raise to fund their research, whereas Lifeloc has funded all of their research organically. They explained that the constraints that they are experiencing with the RADAR device is in the Biometric Identification, and a third party is actively working to resolve those issues. Their revenue has increased, and they expect it to increase in the future, with enough funds in place to fund operations for another year.
Am I thrilled with the report, not overly, but as a long term investor, I feel very satisfied with the continued direction of the company and management. With the recent interest in cannabis stocks - gaining momentum due to the world's acceptance of marijuana, and legalization trends, I am confident Lifeloc will hold it's ground in relation to it's share price.
Crickets....
Increased revenues would be nice, but unfortunately, revenues drive stocks in the S&P, not so much in the OTC. At some point, management is going to have to put a little emphasis on their achievements. They have been dragging the Spin DX along far too long, with talks of commercialization last year, then this year, with no report of substantial advancement. Simply releasing an 8K is not going to do it...
I would like to hear of positive results from Beta testing - improved accuracy, portability (incorporation into the LX9 platform, or at east a timeline), and most importantly - preparation to put this device into the hands of real world users, police, etc. Show us the end product. If commercialization is expected this year, which there is only 8 months remaining, I would expect to hear that the product is nearing production - preparing to increase manufacturing personnel, inventory, etc. Ramp up marketing, social media, news media sources, collaborate with Mother's Against Drunk Driving.
Many questions...
With legalization in Germany, where do their distributors stand in preparedness, and what is the impact on their competitors in Germany, mainly Draeger. What products does Draeger have that would actively compete with the SpinDx technology? Will the saliva testing be an acceptable form of testing in Germany? What is the $$$ market for this device in Germany? Are there any collaborative efforts in the works, which could aid in capturing market share in Germany?
With the current trend in America going full out cannabis, with rescheduling a good possibility this year, what is the forecast for the $$$ the SpinDx could capture in the US? Who are the main competitors in the the US? How do products from companies like Cannabix and Hound Labs compare with Lifeloc's, and what market share is Lifeloc capable of achieving? In reference to newer alcohol screening devices such as infrared scanning, finger touch sensing - what impact does Lifeloc see in the newer technology making Fuel cell membrane technology obsolete? How will the new requirement for US automakers to include alcohol sensing equipment in new builds affect Lifeloc? Is Lifeloc able to capture any of that market? What is Lifeloc's position of the new DADSS research in alcohol sensing technology, and how do they see their sales being impacted, once this new technology is implemented?
RADAR Device? Where does the technology stand now, since they put it on the back burner. Do they see implementing this device into a multifunctional, drugs of abuse device? When will sales begin on the basic alcohol device? What is the market for the RADAR device in $$$?
Most importantly ,they need to release their accomplishments in a manner that exploits their accomplishments, without falsely pumping the stock. Simply releasing a quarterly report, which gains the interest of no one, is not going to move the stock much. Let investors, and traders alike know that there is a company called Lifeloc Technologies, and they are setting the trend in THC testing, along with other drugs of abuse. There is no better time than now.
Thin is an understatement. The majority of the outstanding shares are held by insiders - and they have been slowly starting to buy more on the open market. It's traded about 300 shares in the past two weeks, and has a Market Cap around 8 Million. There is definitely not many shares available to freely trade.
If you compare that to Cannabix, which Market Cap is over 3x that of LCTC, or Hound Labs, which is privately held, and probably valued somewhere around 150 Million, or almost 20x LCTC Market Cap, you can see how grossly undervalued Lifeloc currently trades. This could easily trade at $30, and still be reasonable priced in my opinion. And, if momentum players where to be drawn in, the sky is the limit as to how quickly, and high this could possibly trade. Of course, I don't have to say this, because most people on this board who read these comments, already know this. Trick is, increasing awareness, and that ultimately lies in the hands of Lifeloc's management team.
I was thinking the same thing - I was surprised that they didn't report earnings last Friday after the bell. Volume has completely dried up, and I have a feeling we are about to get a big move to the upside, or a big move to the downside soon. Timing is right for everything to work in Lifeloc's favor, the ball is in their court. Hopefully shareholder's patience will pay off - Time will tell...
I was thinking the same thing - I was surprised that they didn't report earnings last Friday after the bell. Volume has completely dried up, and I have a feeling we are about to get a big move to the upside, or a big move to the downside soon. Timing is right for everything to work in Lifeloc's favor, the ball is in their court. Hopefully shareholder's patience will pay off - Time will tell...
Well at least they didn't post earnings after the bell on a Friday... Good news is Canopy Growth (CGC), almost tripled their share price this week.
Looks like cannabis stocks are on fire this morning. Time for some good news Lifeloc... The "New America" needs you now, more than ever!
I think it's fair to assume the THC part of the Spin DX platform is near completion. We have been here before with hiring, along with their talk of commercialization by the end of the year. There is a large platform of drugs they intend to add to their discs of consumable products, which may need further R&D - Cocaine, fentanyl, etc. Hopefully this is where the focus on further validation is required. Time will tell.
I would possibly consider it. I have enough invested to justify a visit, but believe we could probably achieve just as much by reading their quarterly/year end reports, as well as any proxy votes we receive. They most likely will not disclose anything more in person, other than what they report in their filings. I want to see what comes about over the next month or two first. I think the most that would be gained is putting a face to the name of the board members, as well as show that the people that have been investing in their company, are real people, and that they care enough about their investment, and Lifeloc Technologies, to travel across the country for their annual meeting. A better idea would be to request that the meeting be live streamed, with a question and answer session at the end of the meeting for investors, and possibly demonstrate the current Spin DX model. This is the norm, and would not require much from the company, other than a video cam, microphone, and whichever technology they decide to stream the meeting, such as Zoom.
I don't think you will be impressed by their manufacturing facility, not because anything is wrong with it, but for the main reason that most manufacturing facilities are lack-luster. I have worked in many Fortune 500 company electro-mechanical manufacturing facilities - and none were very impressive to me. I do believe that they have expanded, or are about to expand their manufacturing facility, by not renewing some of the space that they lease out in the building that they own. They have done this in preparation, and anticipation for ramping up production.
I also doubt that they ever have much shareholder interest in their annual meetings.
Maybe we should all attend the annual shareholders meeting this spring? We can all complain now, but you can also look at this as one of the greatest investment opportunities you may ever have. People in message board chat rooms always ask "How do you guys find, and invest in these stocks that move from $2.00 to $100 in a very short time, before they start their move...?" They feel they're late to the game, because they don't do their homework.
How can you not get excited about Lifeloc's last presentation at their Annual Shareholder's Meeting? Go through and read it page by page, it will only take a couple of minutes. https://lifeloc.com/pub/media/pdf/shareholderMeeting2023.pdf
If this was presented as a press release, on the wire, where traders and investors could actually be introduced to this company, I believe it would have attracted a larger interest in the stock. Lifeloc management decided to reserve doing this, and maybe for good reason. I still believe patience will pay off, and investors will be happily rewarded.
We have a lot to look for in the coming weeks, with earnings report just around the corner. Updates on the RADAR Device, and their outsourcing of the biometrics for the device, trade shows this spring, and most importantly - updates on the SpinDx Device, possibly Beta Testing News...? Who knows, but Lifeloc tends to think that this is going to be the year. If not this quarter, maybe next, but I believe we are getting very close to some ripe fruit.
Germany Legalizes Cannabis. Third EU Country to legalize Marijuana, and Lifeloc has distributors in all of them...
This can easily surpass the $4.00 level with little volume. I held this stock back in 2016, and watched it go from about the same price it sits now, to over $23.00 in a few short days, with only a few thousand shares traded daily. We had record volume back in August of 2021, when there was talks of adding breathalyzers to automobiles manufactured in the US - which is still in the works by the way... The stock traded to $10 in a day or two - again, from around the same price it sits at today.
If there ever was a perfect storm in the stock market, this has the makings for it. What is needed, is a broader audience to trading this stock. I say it all of the time - we are the only people that follow this stock, along with the insiders. They don't do PR's or announce news on Market Watch or the Dow Jones News Wire, so the average investor/trader doesn't even know this company exists. If Lifeloc plays their cards right, they would begin to do some public press releases - which does not require you to search through and read an entire quarterly report. I understand why they probably refrained from this in the past, and the affinity of short sellers to fluffy press releases. But it's time Lifeloc brings the meat and potatoes to the table, and start firing out something substantial that investors can get excited about.
The market is growing in the breathalyzer field, and Lifeloc is poised to grab a piece of Billions of dollars...
https://finance.yahoo.com/news/breath-analyzer-market-revenue-worth-133800320.html
With the current trend in testing, I think the timing is perfect for Lifeloc... They probably could have pushed a little faster by hiring more people, and working around the clock, that would require more money, and probable stock dilution by issuing more shares, or going into debt by borrowing money to finance the fast track. It's amazing that they have achieved getting this far by financing the rollout merely by day to day operations.
I would not be against Lifeloc issuing more shares as a form of equity funding, coupled with commercialization of their SpinDx platform, and funding it's rollout. Although it's commonly looked at as dilutive, and negative for stock price, I feel that this could be positive for the stock price, if done correctly. They could possibly gain some institutional ownership, add liquidity to the trading of the stock, and bring the freely tradeable shares into compliance of the required minimum public float of 1,000,000 shares for listing on the NASDAQ Exchange. I think that this is just a matter of time until something like this occurs.
2023 was a historical year in drug testing... With the trend moving toward Oral fluid testing and breath testing...
https://ndasa.com/2024/01/21/staying-current-looking-back-at-an-historic-year-for-drug-testing/
Well, Lifeloc did actually give us an update in November, in their last quarterly financial report. They stated this in their last 8-K "The release of our SpinDx saliva testing system for beta testing utilizing the delta-9-THC disks is expected
in early 2024 and is projected to result in commercialization in later 2024. We expect to accelerate development by
combining our LX9 breathalyzer with the THC SpinDx detection unit, to produce our roadside marijuana breathalyzer
system."
They have cried wolf before, making similar statements in the past, so, unfortunately, it's a wait and see. I would take the phrase "in early 2024" as initiating Beta testing in the first quarter of 2024 - which is now. They will be reporting 4th Quarter results in about 4 weeks, which historically, is about the only time investors receive updates. Reporting results of last quarter will most likely not include any specific data in any Beta testing which was recently initiated, at best, I would hope for a statement indicating that they have begun beta testing of the SpinDx platform. I guess we will know in the next month...
And yes, I agree that Lifeloc should start to make more public press releases, rather than relying on reporting results in quarterly reports, which no one reads -except the few people that are already following the stock. The problem with press releases, is that if they are not meaningful releases, they simply attract short sellers in to profit off of the recent interest, due to a "Fluffy" press release, with no material things to report. Because of this, I still put my trust in Lifeloc's management, and believe that if they do start to initiate any press releases, that they believe they have what it takes for positive momentum, and follow through with the stock price. This is just my opinion.
Best of luck to everyone !
In reply to Hound Labs "cannabis testing trends." Here's an often overlooked segment of Lifeloc Technologies....
10 years ago, Lifeloc purchased the leading company in the field of drug and alcohol testing regulations, and training. STS is the Leader in Employee and Supervisor Online Drug and Alcohol Training for all DOT and Drug-Free Workplace Requirements.
If you click through their different headings >Home,>About Us, and > Resources, I think you will find it quite impressive...
https://www.stsfirst.com/STSStaff.asp
Drager and Abbott are multi-Billion Dollar Market Cap Companies, and have invested Millions in the R&D of Oral Fluid Testing devices. It's time for Lifeloc, the little 7 Million dollar market cap company, to come forward with their device, and put it up to the test with the "Big Boys..."
I think they will shine like a diamond...
https://www.mprnews.org/story/2024/01/05/coming-soon-to-minnesota-roadways-oral-tests-for-marijuana-other-drug-use-by-drivers
Is Lifeloc building a better mousetrap...? The current move in roadside testing for drugs of abuse is "Oral Fluid Testing."
The NDASA - National Drug & Alcohol Screening Association has begun a set of nationwide, Department of Transportation Oral Fluid Collection Training classes, to prepare for the movement toward oral fluid testing for drugs.
There are currently several options available for oral fluid testing by two of Lifeloc's competitors - Intoximeter, and Drager. Intoximeter teamed up with Abbott Labs, and is currently the distributer for the Sotoxa Mobile Test System. Drager is currently marketing their Drager Drug Test 5000 to Law Enforcement officials. The problem with both of these systems, is that they are a +/- result only, which does not put a number to the level of impairment. Samples must further be sent to a lab for further analysis after a positive sample is identified.
Lifeloc claims that their unit will give a quantitative result of the oral fluid test, meaning that the result will be shown as a value in xx ng/ml, at roadside. This is a huge advantage of Lifeloc's SpinDx technology.
The following was recently released by the National Conference of State Legislatures, by their senior editor, Mark Wolf...
Drugs Appear to Be a Factor in Rising Impaired Driving Crashes
States are boosting oral fluid testing and toughening laws on ignition interlocks and impaired drivers who cause fatalities.
By Mark Wolf | December 11, 2023
police traffic stop nighttime
Analyzing an oral fluid test sample generally takes a few minutes. Twenty-seven states have laws authorizing some form of oral fluid screening.
Drunken driving is one thing that makes driving increasingly dangerous. Combined with drug use, it can be quite another.
The latest available statistics reported that of the nearly 43,000 people killed in motor vehicle crashes in 2021, 31% of those fatalities involved alcohol-impaired drivers—a 14% increase from 2020—and 18% involved a driver who tested positive for two or more impairing drugs
“That’s pretty sobering and a real crisis on our roadways,” Kelly Poulsen, senior vice president of government relations for Responsibility.org, told a session of NCSL’s Base Camp on impaired driving.
Annie Kitch, a senior policy specialist at NCSL, says driving under the influence of drugs appears to be a factor in the increasing number of impaired driving crashes.
“One thing that’s critical to point out is that it is difficult to track drug-impaired driving because we don’t have enough data regarding drug prevalence in impaired drivers,” she says. That’s because impaired drivers are often tested only for alcohol, not drugs.
Interventions to Combat Impaired Driving
“More states are exploring roadside oral fluid testing as an alternative to identifying drug presence in drivers,” Kitch says. “Most of us are familiar with roadside breath testing for alcohol with a breathalyzer. But similarly, roadside oral fluid testing involves a law enforcement officer who observes signs of impairment.”
Fluid testing involves using a cotton swab or other absorbent collector to take a mouth fluid sample. Analyzing the sample generally takes a few minutes. A positive result can help establish probable cause in a court case. However, the test only measures the presence of a drug, not the amount.
Even though 27 states have laws authorizing some form of oral fluid screening, only Alabama and Indiana currently have active programs, Kitch says. Other states are studying whether oral fluid tests can be a sustainable method to police cannabis in DUIs.
Other interventions to combat drunken driving include ignition interlocks, which are devices installed in a vehicle to prevent it from starting if a certain amount of alcohol is detected on a driver’s breath.
“Studies are currently showing that these devices can reduce DUI recidivism by about 70%,” Kitch says.
The devices have stopped more than 20 million attempts to drive drunk after alcohol consumption over the last decade, according to the Coalition of Ignition Interlock Manufacturers.
“However, despite their noted benefits, and the fact that every state has an ignition interlock law in some form, the industry is seeing that there are still relatively low installation rates,” Kitch says. “States are really working to revise these laws to ensure that the individuals who may qualify to install these devices in their vehicles are installing them in order to help keep the roads safer and use the devices properly.”
More states are passing laws that require all offenders, including first-time offenders, to install an ignition interlock, she says, adding that some states are enacting or considering legislation requiring impaired drivers convicted of vehicular homicide to pay child support for their victims’ surviving children.
“This is legislation that we saw take off like wildfire in 2023,” with at least 19 states considering bills requiring impaired drivers to pay child support if a parent is killed in a wreck, Kitch says. Tennessee was the first to enact such legislation in 2022, followed by Kentucky, Maine and Texas in 2023.
“We are eager to see if it continues in 2024 throughout the bulk of the legislative sessions,” she says.
Mark Wolf is a senior editor at NCSL.
I would be surprised to see a high volume drop in price like we saw last year, but you never know. Last year, I made 7 purchases during this period, and I'll be ready again this year, should it occur again. It currently appears that there is some interest gaining in the sector, with volume and price increases in stocks like TLRY, LCTC, CGC, BLOZF, etc...
There is a lot of stimulus in the months ahead, including possible re-scheduling, the Presidential election, Lifeloc claims they will be releasing their SpinDx device for Beta testing very soon, with full scale commercialization by the end of this year. I know they have said this before, and hopefully they aren't crying wolf this time. Lifeloc is also presenting at National Drug & Alcohol Screening Association's Annual Conference and Trade Show this May, in Hershey Pennsylvania, which is the largest annual event in the drug and alcohol testing industry - all the big players will be there. Hopefully Lifeloc has something meaningful to display at the show, they do have a nice, corner location of their booth #49, near an entrance/exit.
Hopefully, the CEO will continue to buy more shares on the open market - which I must admit, is a very positive sign...
The selloff in January was most likely a selloff triggered by technicals. Some investors may have had stop-losses in place near 52 week lows, which were triggered, causing a greater sell-off. Notice the price bounced back slightly, equalized, and doubled in price by August.
Hopefully Wayne can help hold a bottom around 2.25 - if he continues to buy in his previous buy price range of 2.22 - 2.25, and it currently looks like there is some buying interest at these levels. Some news before the next earnings release would be nice, but I wouldn't count on it. Most likely see some sideways movement through January/February, going into earnings in March.
Happy New Year !
Lifeloc's management team really deserves credit for increasing net revenue for the past 9 months, compared to a loss for the same period last year - despite the 65% increase in the cost of research and development... While other OTC companies are issuing shares of stock, and doing dilutive financing through convertible debt deals, and death spiral financing to finance their operations, Lifeloc has continued to grow organically - without digging themselves (and us) into a hole... Keep up the good work !