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Ludlow Research Initiates Coverage on BDIC on State Approval of Ignition Interlock Device
Ludlow Research Initiates Coverage on BDIC on State Approval of Ignition Interlock Device.
About this update from Leet Inc.
[{"type":"text","content":"\n \n \n Ludlow Research Initiates Coverage on BDIC on State Approval of Ignition Interlock Device\n \n \nLudlow Research Initiates Coverage on BDIC on State Approval of Ignition Interlock Device\n \n BEVERLY HILLS, CA--(Marketwired - May 6, 2016) - Blow & Drive Interlock Corp. (OTCQB: BDIC), a provider of Breath Alcohol Ignition Interlock Devices, announced a research report on the company is now available for review.\n In their update, Ludlow Research made note that the recent approval by Kansas Department of Revenue for the Blow & Drive Interlock BDI-747 Wireless BAIID device sets the stage for rapid growth as their device is now approved in nine states, namely California, Colorado, Oregon, Texas, Arizona, Kentucky, Oklahoma, Tennessee, and now Kansas. The Company plans for additional approval in 8-12 states in 2016 as more governments move to pass laws making this technology mandatory for DUI and DWI convictions.\n Another key aspect to this approval is that DUI convictions in Kansas include a mandatory ignition interlock device installation and alcohol detection monitoring services for up to 10 years, which could provide for longer term revenue streams per unit for the Company from this state alone.\n Additional Units being Deployed\n In an 8K filing on May 5, 2016, the Company announced an additional 100 BDI-747/1 devices have been delivered, and leased, putting the total number of devices leased with paying clients at just under 350, with reoccurring credit card billing resulting from these contracts is now approximately $12,500 per month. \n The Company sees continued high demand and has another 100 units being assembled and due to arrive at their headquarters in Los Angeles by the end of this month of May. At their current rate of sales and production, the Company believes they are on track to have over 500 units leased with paying clients by the end of the month of June 2016.\n As more states mandate Ignition interlocks, such as Blow & Drives BDI-747/1 device, the prospects of more private and institutional capital rise to ramp up even higher deployment of devices into the summer of 2016.\n Conclusion\n Based on more states passing laws requiring Ignition Interlock devices for DWI convictions, pending device approval in more states, growing monthly unit income, and prospect for increasing investment capital...