They still plan on introducing the product this year, and have identified the end users for Beta Testing, and have them in place - which is good. The fact that they improved accuracy by 50% is a great advancement. I believe they are still on the same timeline/track, but are simply giving themselves some breathing room for what the CEO calls their "Final Push" to commercialization, or a way of "sandbagging." Introducing the product this year is enough for me, and I would expect a great market response to it, in terms of share price. Commercialization would be the next milestone, and if/when it occurs, again - an overwhelming market response would be expected in my opinion.
I took my time, and read through both the 8k, and 10k. A lot of my questions I presented on a post last week, were answered in the reports. They discussed their competitors - including cannabix, Hound Labs, and Drager, as well as the huge amount of money that their competition had to raise to fund their research, whereas Lifeloc has funded all of their research organically. They explained that the constraints that they are experiencing with the RADAR device is in the Biometric Identification, and a third party is actively working to resolve those issues. Their revenue has increased, and they expect it to increase in the future, with enough funds in place to fund operations for another year.
Am I thrilled with the report, not overly, but as a long term investor, I feel very satisfied with the continued direction of the company and management. With the recent interest in cannabis stocks - gaining momentum due to the world's acceptance of marijuana, and legalization trends, I am confident Lifeloc will hold it's ground in relation to it's share price.
