Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Completely agree! One question I thought of later is: if most of the R&D is done why do they need to raise money now? Shouldn't R&D expenses decline? They might have answered that by saying that the line of credit would allow them to borrow as they need, implying it won't be that much borrowing. I was happy to hear that they think they can get down to 5/ng detection when the device is made. Seems like 2025 could be quite exciting for Lifeloc.
where did all that volume come from?
If Lifeloc were on NASDAQ it would have hit $50 already!
I think part of Lifeloc's problem is that 3/5 of the Board is 82 years old and up. The 'youngsters' are Vern's son and the CEO. Not exactly confidence inspiring...
INBS has a fingerprint test that gives results in 10 minutes and they're going for FDA approval. The FDA approval will be for codeine first. Just is a yes/no test, not down to any measurements. Do you see this as competition for Lifeloc?
Looks like commercialization is pushed out to 2025, but they got detection down to 5 ng from 10 ng. As usual good and bad.
Unfortunately, they have no incentive to listen to anybody other than the Kornelsen's. ECIA is another majority Kornelsen held company with interesting technology which also never seems to make any progress. Would be great if the Kornelsen's would sell to someone who wants to see better results quicker.
That could work, especially as you pointed out, if done after they put something positive out and the stock doesn't react because no one follows it. Bringing new sets of eyes on the stock could definitely help.
I think Lifeloc would have to get on the NASDAQ for that kind of move, OTC stocks just don't move like that anymore since brokerages started restricting and/or charging for OTC trades.
Amazing to me that garbage Chinese stocks like HOLO, HKIT, CCTG can go up 100's of percent in a day, but a real company like LCTC with hardly any shares in the float can't participate.
I would also guess that the previous insiders are out of the stock, but that still leaves only 320k shares which is unheard of. With that tiny a float any good news should send this skyward. From the end of 2014 into early 2015 this went from $3 to $34. No reason that's not possible this time.
Small purchases by Wayne the ceo. Good to see.
The accumulated deficits that originated from the company losing money can offset taxable income in future years.
Accumulated deficit doesn't have to be paid back, it just reduces shareholder's equity. So basically it reduces a company's book value.
Accumulated deficit is the amount of losses accumulated over the years, it is not debt. It reduces shareholders equity.
It is frustrating, but this is one of those situations where it can go from $3 to $20 in a week. I just hope it happens sooner rather than later.
Does seem like things are moving as fast as they can, seems positive.
The September quarter was helped by a tax benefit, but sales were up nicely.
I'd say there's a chance since as you said they don't typically attend conferences. It would make sense for them to push their existing lineup of alcohol breathalyzers and educate people about their upcoming products. We shall see.
Interesting that Hound and Cannabix are not attendees
The proxy statement shows 2,132,424 or 84.9% as owned by officers and directors.
Someone could buy the entire float and file with the SEC that he owns 10% or so of the company. I don't know what the obligation of the market maker is in that scenario to make a market. Of course, in that case Vern would likely file to sell stock if the share price was in the stratosphere.
Correct
Generally, investors have to report if they have a 5% stake of the entire company. There are no restrictions as to how much of the float an investor can acquire, although the company may try to limit how much of the overall company one investor owns. This is sometimes done to preserve tax losses.
I could be wrong, but I don't think Lifeloc IPO'd in the regular way. I think they got their stock available for trading on the OTC and trading started as existing shareholders sold stock.
SOBR is promotional, they attend conferences, talk to investors. They claim to have a better mousetrap. Also, they trade on NASDAQ and not the Pink Sheets. Those are the only reasons I can come up with for the disparity. BLOZF has a larger market cap too, they also put out more PR's and seem to be further ahead than LCTC though I'm skeptical.
nice find. just wish it was more than a 28k contract...
Prospects are good, small float is great. Only problem on the way to $20 is that it trades OTC. The meme crowd focuses on NASDAQ stocks probably since many brokerages now charge commission for OTC stocks.
It hit $34 in 2015
I was on and asked about competition. I just hope they're not too far behind Draeger and a couple of other small companies. It was encouraging to hear that they're taking additional space in their building to get this done.
I'm not sure the annual meeting will be accessible by telephone. It seems it's up to them to decide if it is based on "the interest of public health." Unless anyone knows differently I'd guess it will be in-person only.
In past years the company put out a shareholder letter on March 31. This year they did not. Any ideas why?
https://lifeloc.com/investor#tab-investorFaqs
Wayne the CEO bought 1,200 shares on Friday. Definitely good to see.
As long as it's not Vern there's only so many shares that could be for sale.
I agree, I think someone posted there are about 375,000 shares not owned by Vern or management. They could buy back those shares for $5 with the cash on the balance sheet and not have to deal with us any longer. I don't understand why they don't do it.
The problem is Vern Kornelsen owns 77% of the stock and if he doesn't want to change management nothing happens. As for management buying stock they'll probably say they can't cause they're in a 'quiet period'. Vern should just sell his stake and the one he has in ECIA. Another one that goes nowhere.
Good find. I would guess the Roadside Reader is what they are completing since that is what they said will be introduced first.
I think that contactless alcohol detector from blozf was out there already, is there anything else that would account for the lctc drop?
10Q was posted, sales up, larger loss, still developing the breathalyzer
It's a separate device, it's easier to detect THC in saliva vs. breath.
Based on their 10-K it looks like they'll have a saliva device before the breathalyzer. Unclear if the breathalyzer will be out this year, although they seem to be increasing spending to get it done.