LifeLoc Technologies Inc (LCTC)

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Key Takeaways:

In October, 2019 we received approval from DOT for our LX9 and LT7 base unit alcohol breathalyzers, which will allow domestic sales of this product to commence in Q4 of 2019.

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, an important step in establishing impairment. We completed the upgrade of our base breathalyzer platform in 2019, and we remain committed to combining it with the SpinDx™ technology. Our goal is to use this combination to develop a THC breathalyzer.

We completed upgrading our base breathalyzer product line in Q4 of 2018 and have been submitting the models for local statutory and regulatory approvals throughout 2019. We are nearing completion of work in improving the manufacturability of R.A.D.A.R.® devices, which we expect to launch in Q1 of 2020.

Revenues in the third quarter of 2019 were higher compared to revenues in 2018. We believe changing market conditions together with the domestic launch of our base breathalyzer product line in Q4 may result in further increases in revenues for the remainder of 2019, and with the re-launch of R.A.D.A.R.® in Q1 of 2020, further increases in revenues in 2020.