pdicamillo1
1 week ago
I have been trying to submit a reddit post discussing the drug detection device companies and have been rejected on 3 different accounts. If anyone has a working reddit account and would like to post the following report to wallstreetbets, weedstocks, etc. here is what I had written. I was being as unbiased as possible and just providing the facts and comparisons:
Hound Labs
Current Valuation = $100-$500 Million (www.crunchbase.com/organization/hound-labs/company_financials)
Revenue = $34.8 Million (https://growjo.com/company/Hound_Labs#google_vignette)
Company is currently private
31 Patents Granted
Hound Labs is the developer of a breathalyzer technology designed to detect marijuana in a person's breath. The company's technology analyzes oral fluid, blood, and urine to measure recent marijuana use and alcohol in breath, enabling businesses to ensure workplace safety and productivity while allowing legal marijuana use after work hours. Hound Labs, Inc. is committed to developing ultra-sensitive, automated, and analytical breath technologies that will pave the way to practical and fair solutions for leading public health and safety issues. The Company’s first solution, the HOUND® CANNABIS BREATHALYZER, specifically targets THC molecules, limiting cannabis detection to the workday so employers can create testing policies that help balance workplace safety with employee fairness and privacy. Dr. Mike Lynn, emergency room physician, deputy sheriff (reserve), and former venture capitalist, co-founded Hound Labs, Inc. in 2014. Unlike traditional drug tests such as oral fluid, urine, and hair that have detection windows lasting days, weeks, or months after use, the HOUND® CANNABIS BREATHALYZER isolates detection to use within a narrow window of 2-3 hours.
Lifeloc Technologies (Ticker symbol LCTC)
Current Market Cap = $10.2 Million
Revenue = $9.3 Million
Stock Float = 256,000 shares
44 Patents Granted
Lifeloc Technologies Inc is a developer, manufacturer, and marketer of portable hand-held and fixed station breathalyzers and related accessories, supplies and education for law enforcement, workplace, corrections, original equipment manufacturing, and consumer markets worldwide.. It offers fuel-cell based breath alcohol testing equipment. In addition, it also offers a line of supplies, accessories, services, and training to support customers' alcohol and drug testing programs. Further, it provides breathalyzers; Sentinel zero tolerance alcohol screening station; R.A.D.A.R, a Real-time Alcohol Detection and Reporting; and calibration products, as well as breath testing devices. Additionally, it offers Easycal; Phoenix; Lifeloc; and SpinDx. The company was incorporated in 1983 and is headquartered in Wheat Ridge, Colorado.
Latest News:
SpinDx has been demonstrated in our laboratory to effectively detect for delta-9-THC, cocaine, fentanyl, amphetamine methamphetamine, morphine, MDMA, and benzodiazepines. Testing has validated the SpinDx measurement technology against the definitive standard liquid chromatography-mass spectroscopy (LCMS) measurement utilizing human samples. The LCMS data are validating the SpinDx test results on real-world human saliva tests at a limit of detection of approximately 10 ng/ml. With our research and development work, we continue to improve our technology's robustness, speed, and convenience of operation. The start of beta testing of our SpinDx saliva testing system utilizing the delta-9-THC disks is expected later in 2024 using prototype readers as shown in the photograph below. Commercial launch of our first SpinDx application is projected to occur in 2025. Following initial commercialization, we expect more offerings from this technology platform to include expanded drug panels and samples collected from blood and breath.
"Our top priority is pushing the SpinDx product platform across the finish line," Dr. Willkomm said. "We anticipate increasing our research and development expenses in this final push toward commercialization. With the rising interest in saliva drug testing, the initial release of SpinDx to the market becomes more urgent and valuable."
Cannabix Technologies (Ticker symbol BLO/BLOZF)
Current Market Cap = $64 Million
Revenue = 0
Stock Float = 104 million shares
5 Patents Granted
Cannabix Technologies Inc. is a developer of marijuana and alcohol breathalyzer technologies for law enforcement, workplaces and laboratories. It is developing breath testing technologies that can be used at the point of care to detect recent use of marijuana. It is also developing its technology to help employers, law enforcement, government and the public, when marijuana is becoming legal for recreational and medicinal use in many jurisdictions globally. The FAIMS device is designed to operate both independently or coupled in tandem directly to a mass spectrometer, used in forensic labs. The THC Breath Analyzer is a point of care breath testing tool for the rapid detection of recent cannabis use.
Latest News:
Cannabix Technologies Inc. reports that it has entered into a strategic partnership and development agreement dated May 15, 2024 with Omega Laboratories Inc of Ohio, USA. The Agreement provides a pathway for commercialization of Cannabix’s marijuana breathalyzer technology. Pursuant to the Agreement, Cannabix and Omega Laboratories have agreed to, among other things, complete research and development, refine and expand the use of Cannabix’s technology to meet existing and emerging needs of Omega’s clients, contemplate manufacturing and distribution and introduce the delta9 THC breath testing technology to customers in North America. The agreement contemplates critical steps to further Cannabix’s technology from the research and development stage to commercialization.
And in full disclosure, I do own some shares of LCTC and BLOZF and I am waiting to hear back from Hound Labs to find out if they will be doing an IPO anytime in the near future. If we do get a Hound Labs IPO, it should bring interest to the drug detection sector and the other companies also working on marijuana breathalyzers. If either Lifeloc or Cannabix can produce a working and reliable drug detection device, then I have to imagine they would also have a valuation similar to that of Hound Labs ($100-$500 Million). That leaves plenty of room for upside potential in both names.
Energy Manager
3 weeks ago
It's painful to watch Cannabix (BLOZF) triple in price in just a few short weeks... They hired three marketing firms to pump their company, and just teamed up with Omega Labs to help commercialize their product.
The thing is, Cannabix is in a much disadvantaged position compared to Lifeloc. Their product is no further along than Lifeloc's, and they are further diluting investors by teaming with Omega, and allocating 1,000,000 shares of BLOZF, and 11,000,000 Warrants to Omega for their partnership agreement.
Cannabix also just came out with a fix mount alcohol breathalyzer, much like Lifeloc's Sentinel - which has been in use for years... I just don't get it...
In Lifeloc's defense, you can't simply create news releases, if there is no substantial news to release. The same goes for quarterly reports - you can only report factual results. Hopefully, the day will come when Lifeloc gets it's full recognition - hopefully sooner than later (as we watch all of these companies in the sector skyrocket in price per share).
On a positive note, there is only a little over 6 months remaining in the year. If Lifeloc can actually produce what they say they will in 2024, we may eventually see the kind of moves that are currently occurring in these other companies, such as BLOZF and CGC...
pdicamillo1
3 weeks ago
Highlights from first quarter earnings report:
Smart phone pairing of the LX9 units is expected to be introduced in the second quarter of 2024. "We are excited to be able to offer smart phone pairing with our LX9 units soon to achieve better systems integration, which some customers have been seeking,"
Research and Development investment rose by 40%, primarily for SpinDx development, contributing significantly to the current period loss.
SpinDx has been demonstrated in our laboratory to effectively detect for delta-9-THC, cocaine, fentanyl, amphetamine methamphetamine, morphine, MDMA, and benzodiazepines. Testing has validated the SpinDx measurement technology against the definitive standard liquid chromatography-mass spectroscopy (LCMS) measurement utilizing human samples. The LCMS data are validating the SpinDx test results on real-world human saliva tests at a limit of detection of approximately 10 ng/ml. With our research and development work, we continue to improve our technology's robustness, speed, and convenience of operation. The start of beta testing of our SpinDx saliva testing system utilizing the delta-9-THC disks is expected later in 2024 using prototype readers as shown in the photograph below. Commercial launch of our first SpinDx application is projected to occur in 2025.
"Our top priority is pushing the SpinDx product platform across the finish line," Dr. Willkomm said. "We anticipate increasing our research and development expenses in this final push toward commercialization. With the rising interest in saliva drug testing, the initial release of SpinDx to the market becomes more urgent and valuable."
pdicamillo1
3 weeks ago
The National Drug & Alcohol Screening Association's Annual Conference and Trade Show occurs this week. NDASA’s Conference and Trade Show is the largest, most exciting and relevant event of the year for the drug and alcohol testing industry.
Big names attending include Intoximeters, Abbott, Hound Labs, Quest Diagnostics, and Lifeloc Technologies.
These sessions that occur during the week are very relevant to Lifeloc:
Emerging Technology and the Future of Drug Testing
(Cocoa Suites 4-5)
The world of drug testing is changing as cannabis legalization increases, the economy continues to sputter, and employers look for economical ways to keep their workplaces safe and drug-free. This panel of experts will discuss emerging technologies such as lab-based oral fluid, rapid oral fluid using current and emerging methods specific for parent THC, proctored virtual collections and tests, and non- drug testing impairment evaluations using proven drug recognition eye response technology. Facilitated by Bill Current of Current Consulting Group
What is Trending for Drugs of Abuse?
(Cocoa Suite 1)
New drugs are evolving, including many variations of THC. See an overview of research into the new variants, recognize the psychoactive metabolites present in urine & oral fluid and learn what is presenting in workplace drug test samples. Additional drugs will be discussed based on their importance and impact to the population as we examine developing trends. Dr. David Kuntz, Executive Director for Analytical Toxicology of Clinical Reference Laboratory (CRL)
Energy Manager
1 month ago
I don't think it has anything to do with age. Lifeloc is attending some of these conferences/trade shows, and making progress in their development of the "marijuana breathalyzer." The CEO has demonstrated a very strategic effort, and has financed the entire R&D by utilizing existing cash flow, without borrowing or diluting the stock - which investors should applaud. They are very experienced in this field, and know the paths to regulatory approval vs. some of their competitors.
You can't make a press release without "material information." If you do, and continue to pump your stock without any substantial basis, you just set the company up for class action lawsuits by disgruntled shareholders when the stock gets pummeled. Companies use "Safe Harbor" statements in their releases, but they are not foolproof. Lifeloc has been very conservative in releasing any press releases, that's why I feel when they do have some positive material information to release, shareholders should be pleasantly rewarded.
Cannabix has had no income, and continues to dilute shareholder equity. Their stock has more than doubled in just a few short days - all on a stationary alcohol breathalyzer for offenders, much like Lifeloc's Sentinel, which has been in use for years... Lifeloc's RADAR device is lightyears ahead of Cannabix's new device, they just need to work out the biometrics in the RADAR system, and it will come to fruit.
I can feel the momentum building, and my opinion is that Lifeloc will come out on top, as will it's investors - which have been very, very patient.
Energy Manager
2 months ago
The fingerprint tests are pass/fail, whereas Lifeloc's product gives a quantitative measurement - meaning Lifeloc's product is superior in proving a subject was over a specified limit. DADDS https://dadss.org/ is developing two products for alcohol tests in automobiles, and is probably the farthest along in that area - again, not for police/court use, only to act as an interlock device - which Lifeloc sells a good deal of their products to other interlock companies. Fuel cell technology remains the far superior method of testing, and Lifeloc actually manufactures it's own fuel cells for use in it's testing devices, as well as purchases some from other manufacturers.
Codeine is an opioid, and substance of abuse, but it sits low on the list compared to fentanyl, heroin, cocaine, Meth, Marijuana, etc.
Lifeloc gave a good synopsis of their competitors in their latest filing...
Competition and Markets
We sell our products in a highly competitive market and we compete for business with both foreign and domestic manufacturers. Most of our competitors are
larger and have substantially greater resources than we do. In addition, there is an ongoing risk that other domestic or foreign companies who do not currently
service or manufacture products for our target markets may seek to produce products or services that compete directly with ours.
We believe that considerations regarding competition for sales of alcohol monitoring products and services include regulatory approvals, product performance,
product delivery, quality, service, training, price, device reliability, ease of use and speed. We sell certain of our components to customers for incorporation
into their own product lines and for resale under their own name. We believe that, while our resources are more limited than those of our competitors, we will
continue to compete successfully on the basis of product innovation, quality, reputation and continued customer service excellence.
One of our leading competitors is Intoximeters, Inc. of St. Louis, Missouri, a long-established company with strong name recognition in the field of alcohol
testing. It has well-established sales channels, a large customer base, and a broad product line. CMI, Inc. of Owensboro, Kentucky, another major competitor,
also has a well-established name, a strong position in stationary units used in police work, and international market coverage. Drägerwerk AG & Co. KGaA,
based in Germany, manufactures safety and gas testing equipment. Its breath alcohol testers are respected for their quality and performance.
Our competition in the development of a marijuana breathalyzer includes Cannabix Technologies, Inc., a developer of marijuana and alcohol breathalyzer
technologies for law enforcement, workplaces and laboratories that is working on developing delta-9 THC and alcohol screening devices, and Hound Labs,
which is also developing a marijuana breathalyzer. Both competitors in this space have raised significant funds to develop their testing technology.
In addition, other technologies for the measurement of breath alcohol exist and are employed in other market and application segments where the technology
may be more suitable or developed to specific requirements. These include:
• Infrared devices, which use infrared light absorption to detect breath alcohol. These devices generally lack portability, and are usually found in fixed
locations, such as police stations, where subjects are brought for testing. This technology has the advantage of being mandated by law in most states for
evidential use in breath testing.
• Semiconductor breath testing technology, which is used primarily in consumer breathalyzers. Its primary advantage is low cost, but the technology is
not widely accepted by professional users as being as accurate as fuel cell technology.
• Chemical tests, which are based on urine and saliva testing. This approach to alcohol testing is more invasive, less convenient than breath testing, and
may require subsequent analysis for results.
• Blood alcohol tests, which require blood samples. These tests are widely believed to be the most accurate form of alcohol testing because they measure
blood alcohol content directly from a sample of the subject's blood. However, the results are not instantaneous, and the tests are more invasive and
expensive than breath alcohol testing
Energy Manager
2 months ago
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.
pdicamillo1
2 months ago
Annual Revenues of $9,329,566 is just a hair off of all time record revenues for Lifeloc:
2010 - $6,118,960
2011 - $8,290,852
2012 - $6,838,551
2013 – $8,425,667
2014 - $9,341,984
2015 - $8,826,473
2016 - $8,381,135
2017 - $7,990,738
2018 - $8,437,654
2019 - $8,751,823
2020 - $6,356,702
2021 - $7,054,430
2022 - $8,481,992
2023 - $9,329,566
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