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October [19], 2015 |
BLOW & DRIVE INTERLOCK CORPORATION
SECTION 1 – Registrant’s Business and Operations
Entry Into a Material Definitive Agreement
As previously reported on a Current Report on Form 8-K filed with the Commission on September 11, 2015, we entered into an Exclusive Distribution Agreement with J C Lopez (“Lopez”) on September 5, 2015, under which we granted Lopez the exclusive right to lease, install, service, remove and support our proprietary breath alcohol ignition interlock device (the “BDI-747/1”) in the states of Arizona and Nevada. In exchange for these rights, Lopez agreed to pay us a onetime software license and support fee of $50,000, as well as $25 per month for each BDI-747/1 unit Lopez has in its inventory beginning thirty (30) days after Lopez receives the unit. On October 7, 2015 we received notification from the state of Arizona that the BDI-747/1 was approved as an authorized ignition interlock device in the state. As a result, we have received $50,000 for the license and support fee.
As of October 13, 2015, the BDI-747/1 is approved as an ignition interlock device in California, Oregon, Arizona, Kentucky, Oklahoma and Texas. We have applied for approval of the BDI-747/1 in several other states and are currently going through the application and review process.