Lifeloc Reports Third Quarter 2024 Results
Lifeloc Technologies (LCTC) reported Q3 2024 financial results with net revenue of $2.087 million, down 23% from $2.696 million in Q3 2023. The company posted a quarterly net loss of $(158) thousand, or $(0.06) per share, compared to a profit of $110 thousand, or $0.04 per share in Q3 2023. Gross margin improved to 43.7% from 41.5% year-over-year. The company secured a $750,000 line of credit and raised $798,000 through a private placement of 210,000 shares at $3.80 per share. Lifeloc plans to launch its SpinDx saliva testing system for drug detection in late 2025.
Lifeloc Technologies (LCTC) ha riportato i risultati finanziari del terzo trimestre 2024, con un fatturato netto di 2,087 milioni di dollari, in calo del 23% rispetto ai 2,696 milioni di dollari del terzo trimestre 2023. L'azienda ha registrato una perdita netta trimestrale di 158.000 dollari, pari a 0,06 dollari per azione, rispetto a un profitto di 110.000 dollari, ovvero 0,04 dollari per azione nel terzo trimestre 2023. Il margine lordo è migliorato al 43,7% rispetto al 41,5% dell'anno precedente. L'azienda ha ottenuto una linea di credito di 750.000 dollari e ha raccolto 798.000 dollari tramite un collocamento privato di 210.000 azioni a 3,80 dollari per azione. Lifeloc prevede di lanciare il suo sistema di test della saliva SpinDx per la rilevazione di droghe entro la fine del 2025.
Lifeloc Technologies (LCTC) reportó los resultados financieros del tercer trimestre de 2024, con un ingreso neto de 2.087 millones de dólares, lo que representa una disminución del 23% en comparación con los 2.696 millones de dólares del tercer trimestre de 2023. La empresa reportó una pérdida neta trimestral de 158.000 dólares, o 0,06 dólares por acción, en comparación con una ganancia de 110.000 dólares, o 0,04 dólares por acción en el tercer trimestre de 2023. El margen bruto mejoró al 43,7% desde el 41,5% del año anterior. La empresa aseguró una línea de crédito de 750.000 dólares y recaudó 798.000 dólares a través de una colocación privada de 210.000 acciones a 3,80 dólares por acción. Lifeloc planea lanzar su sistema de pruebas de saliva SpinDx para detección de drogas a finales de 2025.
Lifeloc Technologies (LCTC)는 2024년 3분기 재무 결과를 발표했으며, 순수익은 2087만 달러로 2023년 3분기의 2696만 달러에서 23% 감소했습니다. 회사는 분기 순손실 15만8000달러, 주당 0.06달러의 손실을 기록했으며, 2023년 3분기에는 11만 달러, 주당 0.04달러의 이익을 올렸습니다. 총 이익률은 전년 대비 41.5%에서 43.7%로 향상되었습니다. 회사는 75만 달러의 신용 한도를 확보하고 210,000주를 주당 3.80달러에 사모펀드로 79만8000달러를 조달했습니다. Lifeloc은 2025년 말에 약물 검출을 위한 SpinDx 타액 검사 시스템을 출시할 계획입니다.
Lifeloc Technologies (LCTC) a annoncé ses résultats financiers pour le troisième trimestre 2024, avec un chiffre d'affaires net de 2,087 millions de dollars, en baisse de 23 % par rapport aux 2,696 millions de dollars du troisième trimestre 2023. L'entreprise a enregistré une perte nette trimestrielle de 158 000 dollars, soit 0,06 dollar par action, contre un bénéfice de 110 000 dollars, soit 0,04 dollar par action au troisième trimestre 2023. La marge brute s'est améliorée à 43,7 % contre 41,5 % l'année précédente. L'entreprise a obtenu une ligne de crédit de 750 000 dollars et a levé 798 000 dollars grâce à un placement privé de 210 000 actions à 3,80 dollars par action. Lifeloc prévoit de lancer son système de test de salive SpinDx pour la détection des drogues d'ici fin 2025.
Lifeloc Technologies (LCTC) hat die Finanzzahlen für das dritte Quartal 2024 veröffentlicht, mit einem Nettoertrag von 2,087 Millionen Dollar, was einem Rückgang von 23% im Vergleich zu 2,696 Millionen Dollar im dritten Quartal 2023 entspricht. Das Unternehmen verzeichnete einen Nettoverlust von 158.000 Dollar oder 0,06 Dollar pro Aktie, verglichen mit einem Gewinn von 110.000 Dollar bzw. 0,04 Dollar pro Aktie im dritten Quartal 2023. Die Bruttomarge verbesserte sich von 41,5% auf 43,7% im Jahresvergleich. Das Unternehmen sicherte sich eine Kreditlinie von 750.000 Dollar und erhöhte 798.000 Dollar durch eine Privatplatzierung von 210.000 Aktien zu 3,80 Dollar pro Aktie. Lifeloc plant, sein SpinDx Speicheltestsystem zur Drogenkontrolle Ende 2025 auf den Markt zu bringen.
- Gross margin improved to 43.7% in Q3 2024 from 41.5% in Q3 2023
- Secured $750,000 line of credit from Citywide Banks
- Raised $798,000 through private placement at $3.80 per share
- SpinDx technology successfully validated against LCMS standard for drug detection
- Q3 2024 revenue decreased 23% to $2.087M from $2.696M in Q3 2023
- Q3 2024 net loss of $(158,000) compared to $110,000 profit in Q3 2023
- Nine-month 2024 net loss of $(740,000) vs profit of $111,000 in 2023
- Shareholder dilution from private placement of 210,000 shares
- High R&D costs impacting profitability
WHEAT RIDGE, CO / ACCESSWIRE / November 12, 2024 / Lifeloc Technologies, Inc. (OTC PINK:LCTC), a global leader in the development and manufacturing of breath alcohol and drug testing devices, has announced financial results for the quarter ended September 30, 2024.
Third Quarter Financial Highlights
Lifeloc posted quarterly net revenue of
The gross margin improvement in the third quarter was primarily a result of product sales mix. The margin decline for the nine months of 2024 was a result of general cost inflation which the company is working to address through pricing. The losses for the quarter and year to date were caused primarily by the high research and development costs with the push to SpinDx commercialization.
We believe our core alcohol detection product line-up is strong. The L-series LX9 and LT7 units have features and performance that have driven market penetration by meeting previously unaddressable market needs, such as smart phone pairing, wider temperature use ranges and fast customization that incorporates local languages. We expect that sales of our newer L-series devices will be incremental to FC-series devices rather than displacing FC sales. The L-series devices have been certified to meet the requirements of most modern registration standards, such as SAI's (Standards Australia International) latest AS 3547:2019 standards for Breath Alcohol Detectors. Our FC-series devices remain popular with many law enforcement and international organizations. Our Easycal® automated calibration station, the only automated calibration available for portable breath alcohol testers, builds valuable protection around our brand and contributes to market share gains by the workplace Phoenix® 6.0 BT and EV 30 devices.
We believe our most important goal and best opportunity remains the convergence of the global need for rapid detection of drugs of abuse with Lifeloc's proven capability to build easy-to-use portable testing equipment. We are therefore focusing our research and development efforts on leveraging the SpinDx™ technology platform, sometimes referred to as "Lab on a Disk," to develop a series of devices and tests that can be used at roadside and in emergency rooms, forensic labs and workplace test sites to achieve a rapid and quantitative measure for a panel of drugs of abuse. The initial product release is projected to be a device with a disk that allows for detection of delta-9-THC (the major intoxicating component of the cannabis plant) from a test subject's saliva, followed by a disk for a panel of other drugs. 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 have validated 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. We are currently performing validation testing of the microfluidic action and full drug assay within the current disk design before this transitions into production tooling. We plan to start beta testing of our SpinDx saliva testing system utilizing the delta-9-THC disks later this quarter using prototype readers as shown in the photograph below. Commercial launch of our first SpinDx application is projected to occur later 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. Following the release of our SpinDx saliva testing system, we expect to accelerate development of combining our LX9 breathalyzer with the THC SpinDx detection unit, to produce our roadside marijuana breathalyzer system.
"We believe we are getting close to validating and launching our device into rapid drug testing," said Dr. Wayne Willkomm, Lifeloc's chief executive officer. "We anticipate continued high research and development expenses in this final push toward commercialization. With the rising demand for saliva drug testing, the initial release of SpinDx to the market becomes more urgent and valuable."
In anticipation of declining cash because of the high research and development investment in SpinDx, the company has sought to strengthen its financial resources. Early in the third quarter the Company closed on a
"The small private placement was very efficient," said Dr. Willkomm, "with no underwriting costs and minimizing shareholder dilution."
About Lifeloc Technologies
Lifeloc Technologies, Inc. (OTC:LCTC) is a trusted U.S. manufacturer of evidential breath alcohol testers and related training and supplies for Workplace, Law Enforcement, Corrections and International customers. Lifeloc stock trades over-the-counter under the symbol LCTC. We are a fully reporting Company with our SEC filings available on our web site, www.lifeloc.com/investor.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which involve substantial risks and uncertainties that may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements expressed or implied in this press release, including statements about our strategies, performance, expectations about new and existing products, market demand, economic conditions, acceptance of new and existing products, technologies and opportunities, market size and growth, and return on investments in products and market, are based on information available to us on the date of this document, and we assume no obligation to update such forward-looking statements. Investors are strongly encouraged to review the section titled "Risk Factors" in our SEC filings.
Phoenix® and Easycal® are registered trademarks of Lifeloc Technologies, Inc.
SpinDx™ is a trademark of Sandia Corporation.
Amy Evans
Lifeloc Technologies, Inc.
http://www.lifeloc.com
(303) 431-9500
LIFELOC TECHNOLOGIES, INC.
Condensed Balance Sheets
ASSETS | ||||||||
|
|
| ||||||
|
|
|
|
|
| |||
| September 30, 2024 (Unaudited) |
|
| December 31, 2023 |
| |||
CURRENT ASSETS: |
|
|
|
|
|
|
|
|
Cash |
| $ | 841,621 |
|
| $ | 1,766,621 |
|
Accounts receivable, net |
|
| 611,439 |
|
|
| 812,126 |
|
Inventories, net |
|
| 3,160,200 |
|
|
| 3,024,834 |
|
Federal and state income taxes receivable |
|
| 60,420 |
|
|
| - |
|
Prepaid expenses and other |
|
| 89,049 |
|
|
| 105,967 |
|
Total current assets |
|
| 4,762,729 |
|
|
| 5,709,548 |
|
|
|
|
|
|
|
|
| |
PROPERTY AND EQUIPMENT, at cost: |
|
|
|
|
|
|
|
|
Land |
|
| 317,932 |
|
|
| 317,932 |
|
Building |
|
| 1,928,795 |
|
|
| 1,928,795 |
|
Real-time Alcohol Detection And Recognition equipment and software |
|
| 569,448 |
|
|
| 569,448 |
|
Production equipment, software and space modifications |
|
| 1,349,839 |
|
|
| 1,154,803 |
|
Training courses |
|
| 432,375 |
|
|
| 432,375 |
|
Office equipment, software and space modifications |
|
| 254,333 |
|
|
| 216,618 |
|
Sales and marketing equipment and space modifications |
|
| 226,356 |
|
|
| 226,356 |
|
Research and development equipment, software and space modifications |
|
| 725,556 |
|
|
| 480,684 |
|
Research and development equipment, software and space modifications not in service |
|
| 147,615 |
|
|
| - |
|
Less accumulated depreciation |
|
| (3,511,125 | ) |
|
| (3,326,837 | ) |
Total property and equipment, net |
|
| 2,441,124 |
|
|
| 2,000,174 |
|
|
|
|
|
|
|
|
| |
OTHER ASSETS: |
|
|
|
|
|
|
|
|
Patents, net |
|
| 80,517 |
|
|
| 64,439 |
|
Deposits and other |
|
| 12,261 |
|
|
| 111,157 |
|
Deferred taxes |
|
| 1,046,493 |
|
|
| 806,652 |
|
Total other assets |
|
| 1,139,271 |
|
|
| 982,248 |
|
|
|
|
|
|
|
|
| |
Total assets |
| $ | 8,343,124 |
|
| $ | 8,691,970 |
|
|
|
|
|
|
|
|
| |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
CURRENT LIABILITIES: |
|
|
|
|
|
|
|
|
Accounts payable |
| $ | 328,528 |
|
| $ | 402,231 |
|
Term loan payable, current portion |
|
| 52,789 |
|
|
| 51,588 |
|
Income taxes payable |
|
| - |
|
|
| 44,952 |
|
Customer deposits |
|
| 28,940 |
|
|
| 195,719 |
|
Accrued expenses |
|
| 270,932 |
|
|
| 329,311 |
|
Deferred revenue, current portion |
|
| 56,090 |
|
|
| 79,036 |
|
Reserve for warranty expense |
|
| 46,500 |
|
|
| 46,500 |
|
Total current liabilities |
|
| 783,779 |
|
|
| 1,149,337 |
|
|
|
|
|
|
|
|
| |
TERM LOAN PAYABLE, net of current portion and |
|
|
|
|
|
|
|
|
debt issuance costs |
|
| 1,132,066 |
|
|
| 1,170,243 |
|
|
|
|
|
|
|
|
| |
DEFERRED REVENUE, net of current portion |
|
| 8,575 |
|
|
| 11,565 |
|
Total liabilities |
|
| 1,924,420 |
|
|
| 2,331,145 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
COMMITMENTS AND CONTINGENCIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
STOCKHOLDERS' EQUITY: |
|
|
|
|
|
|
|
|
Common stock, no par value; 50,000,000 shares authorized, 2,664,116 |
|
|
|
|
|
|
|
|
shares outstanding (2,454,116 outstanding at December 31, 2023) |
|
| 5,466,014 |
|
|
| 4,668,014 |
|
Retained earnings |
|
| 952,690 |
|
|
| 1,692,811 |
|
Total stockholders' equity |
|
| 6,418,704 |
|
|
| 6,360,825 |
|
|
|
|
|
|
|
|
| |
Total liabilities and stockholders' equity |
| $ | 8,343,124 |
|
| $ | 8,691,970 |
|
|
|
|
|
|
|
|
|
LIFELOC TECHNOLOGIES, INC.
Condensed Statements of Income (Loss) (Unaudited)
| Three Months Ended September 30, |
| ||||||
REVENUES: |
| 2024 |
|
| 2023 |
| ||
Product sales |
| $ | 2,075,994 |
|
| $ | 2,676,872 |
|
Royalties |
|
| 3,016 |
|
|
| 5,063 |
|
Rental income |
|
| 8,316 |
|
|
| 13,573 |
|
Total |
|
| 2,087,326 |
|
|
| 2,695,508 |
|
|
|
|
|
|
|
|
| |
COST OF SALES |
|
| 1,175,374 |
|
|
| 1,576,117 |
|
|
|
|
|
|
|
|
| |
GROSS PROFIT |
|
| 911,952 |
|
|
| 1,119,391 |
|
|
|
|
|
|
|
|
| |
OPERATING EXPENSES: |
|
|
|
|
|
|
|
|
Research and development |
|
| 521,107 |
|
|
| 516,174 |
|
Sales and marketing |
|
| 329,716 |
|
|
| 309,898 |
|
General and administrative |
|
| 269,450 |
|
|
| 269,593 |
|
Total |
|
| 1,120,273 |
|
|
| 1,095,665 |
|
|
|
|
|
|
|
|
| |
OPERATING INCOME (LOSS) |
|
| (208,321 | ) |
|
| 23,726 |
|
|
|
|
|
|
|
|
| |
OTHER INCOME (EXPENSE): |
|
|
|
|
|
|
|
|
Interest income |
|
| 9,525 |
|
|
| 17,678 |
|
Interest expense |
|
| (10,019 | ) |
|
| (10,494 | ) |
Total |
|
| (494 | ) |
|
| 7,184 |
|
|
|
|
|
|
|
|
| |
NET INCOME (LOSS) BEFORE PROVISION FOR TAXES |
|
| (208,815 | ) |
|
| 30,910 |
|
|
|
|
|
|
|
|
| |
BENEFIT FROM FEDERAL AND STATE INCOME TAXES |
|
| 50,488 |
|
|
| 78,693 |
|
|
|
|
|
|
|
|
| |
NET INCOME (LOSS) |
| $ | (158,327 | ) |
| $ | 109,603 |
|
|
|
|
|
|
|
|
| |
NET INCOME (LOSS) PER SHARE, BASIC |
| $ | (0.06 | ) |
| $ | 0.04 |
|
|
|
|
|
|
|
|
| |
NET INCOME (LOSS) PER SHARE, DILUTED |
| $ | (0.06 | ) |
| $ | 0.04 |
|
|
|
|
|
|
|
|
| |
WEIGHTED AVERAGE SHARES, BASIC |
|
| 2,611,616 |
|
|
| 2,454,116 |
|
|
|
|
|
|
|
|
| |
WEIGHTED AVERAGE SHARES, DILUTED |
|
| 2,611,616 |
|
|
| 2,454,116 |
|
|
|
|
|
|
|
|
|
LIFELOC TECHNOLOGIES, INC.
Condensed Statements of Income (Loss) (Unaudited)
| Nine Months Ended September 30, | ||||
REVENUES: |
| 2024 |
|
| 2023 |
Product sales | $ | 6,580,861 |
| $ | 7,056,638 |
Royalties |
| 22,776 |
|
| 23,419 |
Rental income |
| 24,462 |
|
| 60,351 |
Total |
| 6,628,099 |
|
| 7,140,408 |
|
|
|
|
|
|
COST OF SALES |
| 3,887,244 |
|
| 4,043,146 |
|
|
|
|
|
|
GROSS PROFIT |
| 2,740,855 |
|
| 3,097,262 |
|
|
|
|
|
|
OPERATING EXPENSES: |
|
|
|
|
|
Research and development |
| 1,738,982 |
|
| 1,308,721 |
Sales and marketing |
| 1,040,099 |
|
| 897,856 |
General and administrative |
| 947,384 |
|
| 872,724 |
Total |
| 3,726,465 |
|
| 3,079,301 |
|
|
|
|
|
|
OPERATING INCOME (LOSS) |
| (985,610) |
|
| 17,961 |
|
|
|
|
|
|
OTHER INCOME (EXPENSE): |
|
|
|
|
|
Interest income |
| 35,874 |
|
| 46,678 |
Interest expense |
| (30,226) |
|
| (31,319) |
Total |
| 5,648 |
|
| 15,359 |
|
|
|
|
|
|
NET INCOME (LOSS) BEFORE PROVISION FOR TAXES |
| (979,962) |
|
| 33,320 |
|
|
|
|
|
|
BENEFIT FROM FEDERAL AND STATE INCOME TAXES |
| 239,841 |
|
| 77,640 |
|
|
|
|
|
|
NET INCOME (LOSS) | $ | (740,121) |
| $ | 110,960 |
|
|
|
|
|
|
NET INCOME (LOSS) PER SHARE, BASIC | $ | (0.30) |
| $ | 0.05 |
|
|
|
|
|
|
NET INCOME (LOSS) PER SHARE, DILUTED | $ | (0.30) |
| $ | 0.05 |
|
|
|
|
|
|
WEIGHTED AVERAGE SHARES, BASIC |
| 2,506,999 |
|
| 2,454,116 |
|
|
|
|
|
|
WEIGHTED AVERAGE SHARES, DILUTED |
| 2,506,999 |
|
| 2,454,116 |
|
|
|
|
|
|
Lifeloc Technologies, Inc.
Statements of Stockholders' Equity
| Three Months Ended September 30, |
|
| Nine Months Ended September 30, |
| |||||||||||
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
| |||||
Total stockholders' equity, beginning balances |
| $ | 5,779,031 |
|
| $ | 6,156,568 |
|
| $ | 6,360,825 |
|
| $ | 6,155,211 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Common stock: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balances |
|
| 4,668,014 |
|
|
| 4,668,014 |
|
|
| 4,668,014 |
|
|
| 4,668,014 |
|
Issuance of 210,000 shares at |
|
| 798,000 |
|
|
| - |
|
|
| 798,000 |
|
|
| - |
|
Ending balances |
|
| 5,466,014 |
|
|
| 4,668,014 |
|
|
| 5,466,014 |
|
|
| 4,668,014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Retained earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balances |
|
| 1,111,017 |
|
|
| 1,488,554 |
|
|
| 1,692,811 |
|
|
| 1,487,197 |
|
Net income (loss) |
|
| (158,327 | ) |
|
| 109,603 |
|
|
| (740,121 | ) |
|
| 110,960 |
|
Ending balances |
|
| 952,690 |
|
|
| 1,598,157 |
|
|
| 952,690 |
|
|
| 1,598,157 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Total stockholders' equity, ending balances |
| $ | 6,418,704 |
|
| $ | 6,266,171 |
|
| $ | 6,418,704 |
|
| $ | 6,266,171 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIFELOC TECHNOLOGIES, INC.
Condensed Statements of Cash Flows (Unaudited)
| Nine Months Ended September 30, |
| ||||||
CASH FLOWS FROM OPERATING ACTIVITIES: |
| 2024 |
|
| 2023 |
| ||
Net income (loss) |
| $ | (740,121 | ) |
| $ | 110,960 |
|
Adjustments to reconcile net income (loss) to net cash |
|
|
|
|
|
|
|
|
(used in) operating activities- |
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
| 193,096 |
|
|
| 198,471 |
|
Provision for doubtful accounts, net change |
|
| 1,000 |
|
|
| - |
|
Provision for inventory obsolescence, net change |
|
| 52,500 |
|
|
| - |
|
Deferred taxes, net change |
|
| (239,841 | ) |
|
| (114,116 | ) |
Changes in operating assets and liabilities- |
|
|
|
|
|
|
|
|
Accounts receivable |
|
| 199,687 |
|
|
| (81,388 | ) |
Inventories |
|
| (187,866 | ) |
|
| (179,943 | ) |
Employee retention credit and income taxes receivable |
|
| (60,420 | ) |
|
| 107,575 |
|
Prepaid expenses and other |
|
| 16,918 |
|
|
| (207,149 | ) |
Deposits and other |
|
| 98,896 |
|
|
| - |
|
Accounts payable |
|
| (73,703 | ) |
|
| 87,870 |
|
Income taxes payable |
|
| (44,952 | ) |
|
| 36,476 |
|
Customer deposits |
|
| (166,779 | ) |
|
| (16,557 | ) |
Accrued expenses |
|
| (58,379 | ) |
|
| (82,738 | ) |
Deferred revenue |
|
| (25,936 | ) |
|
| (13,339 | ) |
Net cash (used in) |
|
|
|
|
|
|
|
|
operating activities |
|
| (1,035,900 | ) |
|
| (153,878 | ) |
|
|
|
|
|
|
|
| |
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES: |
|
|
|
|
|
|
|
|
Purchases of property and equipment |
|
| (477,623 | ) |
|
| (21,611 | ) |
Purchase of research and development equipment, software, and |
|
|
|
|
|
|
|
|
space modifications, not in service |
|
| (147,615 | ) |
|
|
|
|
Patent filing expense |
|
| (21,708 | ) |
|
| (1,404 | ) |
Net cash (used in) investing activities |
|
| (646,946 | ) |
|
| (23,015 | ) |
|
|
|
|
|
|
|
| |
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES: |
|
|
|
|
|
|
|
|
Principal payments made on term loan |
|
| (40,154 | ) |
|
| (38,988 | ) |
Proceeds from issuance of 210,000 shares at |
|
| 798,000 |
|
|
| - |
|
Net cash provided by (used in) financing |
|
|
|
|
|
|
|
|
activities |
|
| 757,846 |
|
|
| (38,988 | ) |
|
|
|
|
|
|
|
| |
NET (DECREASE) IN CASH |
|
| (925,000 | ) |
|
| (215,881 | ) |
|
|
|
|
|
|
|
| |
CASH, BEGINNING OF PERIOD |
|
| 1,766,621 |
|
|
| 2,352,754 |
|
|
|
|
|
|
|
|
| |
CASH, END OF PERIOD |
| $ | 841,621 |
|
| $ | 2,136,873 |
|
|
|
|
|
|
|
|
| |
SUPPLEMENTAL INFORMATION: |
|
|
|
|
|
|
|
|
Cash paid for interest |
| $ | 27,048 |
|
| $ | 28,091 |
|
|
|
|
|
|
|
|
| |
Cash paid for income tax |
| $ | 60,420 |
|
| $ | - |
|
|
|
|
|
|
|
|
|
SOURCE: Lifeloc Technologies, Inc.
View the original press release on accesswire.com
FAQ
What was Lifeloc Technologies (LCTC) revenue in Q3 2024?
When will Lifeloc Technologies (LCTC) launch its SpinDx drug testing system?
How much capital did Lifeloc Technologies (LCTC) raise in Q3 2024?