Location Based Technologies, Inc. (LBAS)

[DallasLFM]

I'm a few weeks late but here is an update from the company website:

https://locationbasedtech.com/wp-content/uploads/2020/09/Mid-Year-2020-Shareholder-Letter-Final.pdf

Overall I think the message is:

1. COVID put a giant hit on current year sales (understandable for a business of this nature)
2. There were some signs of recovery in June/July
3. PPP was used to cushion the downside (good management there)
4. Work is continuing to support the platform including keeping it current with Apple's IOS14 (this is a reassuring development for viability)
5. Product development continues with some interesting possibilities
6. The Apple suit continues on along a predictable path. Progress is being made but it is slow - as one should expect.
7. There is no discernible dip in the desire to fight it out