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Honestly, in a float lock down scenario, the OTC would probably be the preferred exchange. I totally agree that the meme crowd is more intent on trading the NASDAQ symbols which is why LCTC continually gets passed over. We don't really want that crowd involved anyway unless it's at the tail end of the run when things are already frothy.
But if we could somehow lock up the float on the OTC and we get a series of good news, sky's the limit on this thing. I know we have been patiently waiting a long time, but hopefully its all worth it.
According to market screener, yahoo finance, and seeking alpha, the insiders own 89.5% of the public float. That leaves 10.5% for the public investors, traders, etc. That’s about 255,000 shares available for the public to purchase.
I’ve been saying this for a long time, but if there ever was a time to take down the entire public float of a stock, I think it’s now/soon. Can you imagine if we start seeing some really good news roll in about multi-million dollar contracts, partnerships, etc. and there’s no stock available to buy?
I know I’m not selling my shares anytime soon. I don’t think you guys are selling your stock anytime soon. We just need to get the current available float into stronger hands and wait for the fireworks.
Not sure if you were on or listened to the annual shareholders meeting conference call but the CEO did mention that when the SpinDX technology is tested, reliable, and ready to go, they will start putting out headlines, news releases, and PR’s.
Basically giving us a heads up that things are heating up and they’re ready to start cooking. According to the quarterly report released last week, it still sounds like they are targeting years end.
Hopefully the “Wow Factor” appears in some of those news releases and we start seeing some volume and higher stock prices. With less than 200 total shareholders here, there’s plenty of room for growth.
Highlights from the full Lifeloc Quarterly report:
Total assets are $2 Million higher than the current market cap:
Total Assets: $8,312,084
Progress and updates for the SpinDx:
We received the first prototype in 2018, advanced this device for robustness and manufacturability, and are now commercializing the device. We are optimistic about the results of the work to date and expect market introduction later in 2023 with partners for field demonstration. The SpinDx™ platform has the potential to improve real-time screening for a panel of high-abuse drugs, with the ability to efficiently measure relatively low concentrations of drugs such as cocaine, heroin, methamphetamine, fentanyl and other high-abuse drugs.
Firmware updates will be distributed through a subscription model. The disks and sample collection kits are the consumables used by the product to produce a significant recurring revenue stream. Development of broader drug panels, improved accuracy, and sampling methods according to market demands is ongoing. The first test we intend to offer is the SpinDx device with disks for delta-9-THC detection from an oral fluid sample collected from a test subject.
We anticipate that both quantitative and pass/fail disks will be made available, making this offering the only rapid quantitative test for delta-9-THC available on the market. Following this we expect to release a system based on our recently updated LX9 breathalyzer to collect a sample for analysis from breath, which, coupled with the SpinDx device, will complete our marijuana breathalyzer system. We have improved the detection sensitivity for delta-9-THC as well as the robustness of the device. We are continuing to work on developing this system into a device that can be used for roadside testing, as well as other venues requiring fast response. We have committed additional personnel and new equipment resources to this effort, with the goal of placing beta test units in 2023 with validation partners who have already been identified. We anticipate full commercialization to begin in 2024. Human trials have begun validating SpinDx detection of delta-9-THC at the detection limits of 10 ng/ml in real-world human samples. We intend to prioritize the acceleration of SpinDx even at the expense of short-term profitability, with research and development investments, including substantial validation testing, to be ongoing in 2023.
Our research and development expenses were $395,781 for the quarter ended June 30, 2023, representing an increase of 12% over the $352,910 in the same quarter a year ago. This increase is due in large part to our continuing emphasis on SpinDx and increased costs associated with its development.
This is the first time all year we have seen a close at $2.50. We desparetely need to see some volume come in and keep the buying interest high. We just got the full quarterly report out which I'll go through and see if I can highlight a couple things.
I'd also love to see this scenerio play out. If the SpinDx technology proves itself in the marketplace, this could be very beneficial for a big company to get involved and take it to the next level.
The opportunities are limitless if we actually see reliable and proven results from the SpinDx technology.
LCTC has yet to close above $2.50 this year. This is a very important price level to break through if we want to see any type of upward momentum continue. We had a buyer in there on Friday and hopefully they are still around and want to pick up more shares.
Here’s some recent market cap comparisons. Keep in mind that SOBR and Cannabix continue to lose money every quarter and have never even been profitable.
LCTC = $4.8 million market cap
SOBR = $29.2 million market cap
BLOZF = $22.5 million market cap
I’ve always been of the opinion that Lifeloc should have a value equal to that of either of these companies. Obviously the market has not agreed so far.
Well said! There was some buying interest on Friday after the quarterly report was published.
There was some good stuff in the earnings report and it sounds like the team at Lifeloc is still content with having testing done this year and commercialization by next year.
I was impressed by this line:
“We continue with validation testing utilizing actual human samples obtained through the Colorado School of Public Health at the University of Colorado Anschutz, with results to date confirming SpinDx performance."
And I’m impressed they added fentanyl testing to the SpinDX drug panel. That’s going to prove beneficial in the near future as it continues to be distributed across the country.
As of the quarterly report from today we know that the Spin Dx technology is able to detect a limit of 10 ng/ml on real world human saliva tests.
I wonder how diffucult or easy it's going to be to get down to a 4 ng/ml dectection.
This is the very first time we have heard anything from Charles Gonzales, the Research and Development Manager.
We have to be excited about the addition of cocaine, amphetamines and fentanyl to the SpixDx drug panel. This is defintiely some good news.
And we finally have some validation testing being done with actual human samples at a college university. With result confirming SpinDx performance.
Progress is being made!
I'll take it. Let's see if we can get some upward momentum and some volume from this.
Quartely earnings are out. Lifeloc posted a profitable quarter: $.02/share.
More importantly we heard from Charles Gonzales, Research and Development Manager, who said,
"We have moved into the next critical phase of the SpinDx product development cycle, now developing our custom microfluidic disk with the first targeted drug being cannabis. We have also added tests for cocaine and amphetamines and have initiated work to detect fentanyl for our subsequent drug panel. The project is maintaining good momentum. We continue with validation testing utilizing actual human samples obtained through the Colorado School of Public Health at the University of Colorado Anschutz, with results to date confirming SpinDx performance."
Totally agree. If the timeline is to still have the SpinDX device ready to go by the end of this year (5 months away), insiders, management, employees should all be buying in the mid $1 range with a market cap at $4 million.
Step up to the plate and pick up some shares and let us know your just as confident as you were on the conference call.
At $1.70/share the market cap is right around $4 million. I also picked up some additional shares today. I know we have been saying the same thing for years but at some point in the near future this thing will get moving in the right direction.
At most, there’s 100,000 Lifeloc shares from the float that aren’t locked up by us and other shareholders.
I would love to just take down the rest of the float (at these price levels it would take about $200,000) and just wait it out.
Could you imagine how easily this could just stair step higher once we get some good news and the float is entirely locked down by long term investors.
That’s the dream scenario.
There was also this article in reference to Best Stocks for Future Boom in THC Drug Testing:
https://moneyandmarkets.com/best-stocks-for-future-boom-thc-drug-testing/amp/
I believe your referring to the guys from money morning who published this article on Lifeloc a couple years ago.
https://moneymorning.com/2021/08/12/buy-this-4-micro-cap-stock-before-the-house-passes-the-infrastructure-bill/
Maybe we can send them a summary of the highlights from the recent annual shareholders meeting.
Thanks for the thorough response.
I wonder if there’s any chance we could possibly see another grant from the state of Colorado to give this thing a final push and provide some additional funding to see it through the finish line.
Hound labs has raised 10’s of millions in venture capital which I’m sure has helped them speed things up.
I would be nice to see some additional funding come from an external source.
Greetings Enery Manager. Haven't heard from you since the shareholder's call.
Any thoughts/opinions on if you think the team at Lifeloc actually has what it takes to get this thing done soon?
If they pull it off, we both know the currrent price is a gift. If we are being given the run around yet again and we get nothing by year end, we probably sit in this $1-$4 range with minimal volume.
Either outcome, I think I'm going to make it a point to go to next year's annual shareholders meeting. Either to personally congratulate them or give them some hell.
According to the Hound Labs website,
"The HOUND® CANNABIS BREATHALYZER will begin shipping in spring 2023. Connect with our team to place your order and secure your shipping window."
We will keep you updated on product availability. The HOUND® CANNABIS BREATHALYZER will initially ship in limited quantities in the coming months.
There is also a wait list for early access. "Joining the Wait List will help to ensure that your organization has the opportunity to reserve a HOUND® MARIJUANA BREATHALYZER before general availability."
It would be great to find out what they are selling the initial units for and how many units are on the wait list.
First to market is definitely a big win but it seems like there will be plenty to go around due to high demand for this thing.
Another small piece of good news to share was when I asked the CEO if the SpinDX technology was able to test for fentanyl, I received the following response:
"Currently, we do not have a detection assay for fentanyl, but this is on the short list of drugs to add given the high attention that that drug has today. I have complete confidence that that will not be difficult to add to the panel."
I think it's of utmost importance to have access to a machine that can quickly and accuratley test for fentanly and it sounds like it's in the works and is being made a priority to get added.
After reviewing the slide show presentation and going over the notes from today's call, the one thing I am most excited about is the current stock price of LCTC. This is absolutley not a company that is worth just $4-$5 million. Keep in mind that Cannabix currently has a market cap of $36.5 million and does anyone here think that Cannabix has more going for it than Lifeloc?
We also now know when it's go time. They told us outright that when the tech is ready, we will start seeing the news flow increase.
We are not there yet, but we are close.
I have to imagine the big boys start to get interested if/when Lifeloc proves the technology behind the Spin DX is shown to work and be reliable.
When the news releases start rolling in with human trials and validation, that’s when the overall interest should really start.
Continuing to collect shares under $2.00 is a gift as long as what they said on this call comes to fruition.
If the technology proves itself and competition is minimal, a market cap of $20-$50 million should be reachable and buy out/merger interest from the big boys is certainly a possible outcome.
I totally agree that there was excitement in his voice and the way he talked about the near future.
One of our biggest takeaways is the fact that the news will flow when the time is right and they are ready. As soon as we see that first PR/news release relating to the Spin DX technology that is my sign that it’s go time. I don’t expect this in the coming months but he sounded pretty confident to be ready to go by years end.
Needed the additional 5,000 sq feet space is a good sign.
Seeing an actual picture of the SpinDX device on the presentation slide is a good sign.
Human user samples being collected is a good sign.
Demonstrating TCH levels down to 10ng/ml with real world testing is a good sign.
DOT guidance changes which make the Spin DX technology more attractive is a good sign.
I was impressed with this call.
Keep the focus and get it done!
I was on the call and submitted some questions which I thought Wayne did a fair job answering.
It sounds like the excitement comes when they approach the finish line and get the job done.
It does seem like they have prioritized commercialization of the SpinDX and have commenced human trials which is very good. They are confident the technology works but underestimated the complexity.
When the news starts flowing, that’s when the magic happens.
Overall I thought it was a promising call that has a lot to look forward to but don’t expect too much in the near future. When they are ready, it sounds like they will let us know.
Wayne did a good job on this call today. I’ll give credit when credit is due. There is reason to be excited as a shareholder.
Lifeloc annual meeting:
Wednesday May 17
9:00 am mountain time
303-407-9190 code #725
Lifeloc annual shareholder Conference call will be available to listen by call in. Submit any questions you have to WayneW@lifeloc.Com.
Let me know if anyone wants/needs the call-in info. I have it written down somewhere.
For the love of Lifeloc - please tell us something of substance that we can look forward to in the near future.
I think we should collectively work on coming up with some good questions for management for next weeks conference call.
I have said this before but when your sitting on a potential multi billion dollar opportunity, I am of the mindset that you do whatever it takes to make it happen. They should continue to be open on weekends working on this project, putting in the overtime hours, hiring the right people, etc. . You rest when it’s completed. Where is the work ethic at Lifeloc? Where is the dedication? Where is the integrity? Where is the drive? Isn’t anyone over there who can step up to the plate and see this to fruition?
Make it happen Lifeloc - do whatever it takes!
The actual earnings report was pretty lackluster with a .02 loss per share this quarter but a possible game changer for Lifeoc is the DOT rule change which now allows oral fluid drug testing.
Time for Lifeloc to get it together and start making this happen.
At $2.00/share we are still under a $5 million market cap. Hopefully that one seller is completely exhausted and we can start climbing higher in share price.
DOT expands drug testing options to include oral fluid:
The Department of Transportation on Monday filed a Final Rule that will allow oral fluid as an authorized testing method for the presence of unlawful drugs. The 227-page final rule is scheduled for publication in the Federal Register May 2 and will become effective 30 days later.
In order for an employer to implement oral fluid testing under DOT's regulation, the U.S. Department of Health and Human Services (HHS) will need to certify at least two laboratories for oral fluid testing, which has not yet been done. In essence, the DOT on Monday cleared a regulatory hurdle that allows for oral fluid testing, but those tests are not yet authorized until HHS makes its certifications.
Prior to Monday's issuing of the Final Rule, urinalysis and blood analysis (in limited circumstances) were the only acceptable means to conduct DOT drug screenings.
https://www.ccjdigital.com/regulations/safety-compliance/article/15383911/dot-expands-drug-testing-options-to-include-oral-fluid
U.S. DOT Issues Final Rule Change Allowing Oral Fluid Drug Testing:
The U.S. Department of Transportation (DOT) announced a final rule on May 2, 2023, permitting oral fluid testing to be included as part of the industry's drug testing program.
The final rule will take effect June 1, 2023, thirty days from its publication in the Federal Register.
https://www.bigreport.com/blogs/industry-news/2023/5/u.s.-dot-issues-final-rule-change-allowing-oral-fluid-drug-testing/#:~:text=The%20U.S.%20Department%20of%20Transportation,publication%20in%20the%20Federal%20Register.
Key takeaways from the first quarter earnings report:
"Testing has commenced to validate the SpinDx technology against the definitive standard liquid chromatography-mass spectroscopy (LCMS) measurement utilizing human samples. The LCMS data are validating the SpinDx test results on real-world human saliva tests at a limit of detection of approximately 10 ng/ml. With our research and development work, we continue to improve our technology's robustness and convenience of operation. Following the release of our SpinDx saliva testing system, which is expected this year and is projected to result in commercialization in 2024, we expect to accelerate development on combining our LX9 breathalyzer with the THC SpinDx detection unit, to produce our roadside marijuana breathalyzer system."
"We rely on growing sales of our current products to fund our biggest opportunity, pushing the SpinDx product platform across the finish line to commercialization. We anticipate that our research and development expenses will continue to rise in this final push. With the U.S. Department of Transportation recently issuing their rule change allowing oral fluid drug testing, the timing of SpinDx coming to market as an oral fluid tester becomes more urgent and valuable."
Correct me if I am wrong but I do believe that Lifeloc has stated for quite some time that the Spix DX technology can test and measure the active component in THC down to 5 nano grams per ml.
I also believe that the $4-$5 price range is really where it should be fairly valued for now. The relentless selling has dropped us below fair value - hopefully that’s just temporary and we will work our way back to those price levels now.
I still believe there could be quite a bit more drive and passion from these guys to get the work done. Why is it so difficult for them to just throw out some updates to keep investors interested. No one right now has any interest in this thing.
Wonderful! At least we finally have an explanation for who was selling and how much they had to sell.
I’ve been wondering that for a long time.
And it’s true there hasn’t been any recent sales of stock so maybe they finally are done.
Now we just need some buying pressure and/or something to create a catalyst.
I wonder why Wayne for the first time picked up some shares on the open market? Hopefully he keeps buying.
Do you think they will have anything actually accomplished by the end of this year or are we just getting more and more smoke pushed up our buttholes?
For the last 2 days, there has been someone who sells shares in the last minute of trading so as not to have Lifeloc trade higher on the day. Does anyone else get the feeling there has constantly been someone who owns shares of this company who does not want to see it succeed or trade higher? Who continues to sell here at all time lows - 7,000 since the beginning of April. Anyone else have theories on this?
Historically Lifeloc seems to have this attraction to the $5.00 price. I have to think that at some point this year it will get back there. That would be a triple from these current price levels. And if Wayne is finally buying, maybe we have a bit of a floor at these prices.