I see two items from the report that stand out:
"An additional total of 110,500 options were granted during the six months ended June 30, 2020, 48,000 of which were granted to two officers and three directors. Out of that 48,000, the officers were granted 37,500 and 7,500 and the directors were granted 1,000 each. These options vested immediately upon granting."
-Lifeloc decided to hand out over 110,000 options grants for the stock trading at/near all time lows and two negative quarters of growth. God forbid someone from the Lifeloc team actually put out their own money to buy some stock while it sits in the $2.00 range. Is that asking too much for one person to think it's a bargain down here? Not one insider is willing to buy some stock while the market cap sits below $7 million?
"Earlier this year, we added to our expertise by hiring staff who bring skills highly relevant to the development of SpinDx. We believe these advances in our team’s expertise will better equip us in our attempts to introduce this important product by the end of 2021."
-This is the first time I have seen Lifeloc put out a timeline on completion of the marijuana breathalyzer. And they actually hired qualified engineers to work on it. Can they grasp the fact that this could have been done years ago instead of wasting time on the RADAR device.
Our SpinDx-based marijuana breathalyzer remains a key product of interest in attempts to address the broadening legalization of marijuana. Legalization and decriminalization of marijuana only increases the need for a rapid, quantitative roadside test to identify drivers under the influence of marijuana. The ability of our technology to detect delta-9-THC down to a concentration of 5 nanograms per milliliter and to collect a testable sample from a vapor stream has been demonstrated in our laboratories, and we continue the development work needed to convert this technology into a simple-to-operate device that is suitable for roadside testing. Detection of THC is accomplished through the SpinDx technology, licensed exclusively by Lifeloc Technologies for drugs of abuse from Sandia National Laboratory. We are targeting the end of 2021 for the first product release from this platform.
The Lifeloc board of directors endorses our commitment to research and development, even if losses persist until the release of the SpinDx and marijuana breathalyzer products."
