This is largely a story-stock right now, but I like the way the story has advanced the past two days. Blow & Drive Interlock (BDIC) markets their proprietary BDI-747 which is the only wireless Alcohol Ignition Interlock currently available. In an increasing number of states, courts require DWI convicts to purchase, install and pay for monthly these gizmos to prove that they are not under in the influence when they drive their cars. There's a recurring-revenue element as well, because, in many cases, the user must pay a monthly fee for monitoring/calibration/compliance.
The BDIC story took a major step forward yesterday as the company secured $5M in financing on what look to be quite reasonable terms.
Finally, the company features an attractive share structure, with about 16M shares out and Chmn/CEO/CFO Laurence Wainer owns 10M of those. There are 4 other parties that each own about 1M shares, suggesting a small float of about 2M shares overall...
The big negative is that the balance sheet is weak, but yesterday's financing news addresses that head-on IMO...
I know you think you understand what you thought I said, but I'm not sure you realize that what you heard is not what I meant." --Alan Greenspan
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