BDIC Q2 Revenues Up 146% Company Posts 4 Straight Quarters of Increasing Sales Growth
August 23 2016 - 11:16AM
Marketwired
BDIC Q2 Revenues Up 146% Company Posts 4 Straight Quarters of
Increasing Sales Growth
LOS ANGELES, CA-(Marketwired - Aug 23, 2016) - Blow and Drive
Interlock Corporation (OTCQB: BDIC), an offender home monitoring
and police-grade alcohol detection device manufacturing and
distribution company, releases End of Second Quarter Shareholder
Letter:
Dear Valued Shareholders,
BDIC has just filed its fourth quarterly report (10Q) as a
revenue generating company. As the company has done in the past, we
want to take an opportunity to update our shareholders on our
recent developments, opportunities, and outlook for the remainder
of 2016.
The overall financial outlook for our company is increasingly
optimistic. BDIC experienced its fourth straight quarter of revenue
growth. Since the company has begun trading publicly, there has not
been a single quarter where sales have declined. Our gross revenue
last quarter was $96,000; an increase of 146% in revenue from the
previous quarter and our cost of revenue to achieve this growth
last quarter was only $11,000 against $7,000 last quarter. In
addition the value of our machine assets increased from $48,000 to
over $187,000 since last quarter. As we have said in the past, this
is consistent with our expectations. BDIC business is currently
primed and we are actively scaling the business and these quarterly
financials reflect a business with compounding and scaling growth.
We are anticipating that, moving forward into future quarters, we
should be able to increasingly continue growing our revenues.
Over this last quarter we leased new machines to paying clients
as quickly as we were able to produce new inventory. We currently
have over 500 machines leased with paying clients and we are on
track to meet or exceed our previously stated goal of deploying
over 1,100 units by the year's end. As of today, we have an
additional 100 machines being assembled and scheduled for arrival
at our Los Angeles facility within ten days. It is our expectation
to have these machines deployed within weeks of arrival.
Over this past quarter BDIC attended and presented at ignition
interlock vendor conferences sponsored by the states of New York,
Pennsylvania, Kentucky, and Tennessee. We met and presented to a
spectrum of state and municipal civil leaders involved in each
states interlock program. We had a healthy dialogue with key civil
servants (including probation, parole officers, district attorneys,
and judges) and we are looking forward to being a part of a process
that includes actively assisting them in developing and improving
the efficacy of the interlock programs in each jurisdiction. As
interested shareholders know, the legislation and interlock
programs are generally expanding on a state-by-state basis. The
exact specifications and dynamics of every interlock program vary
to reflect each jurisdictions own goals and priorities. We are
excited to be part of the process and contributing to the public
policy dialogues that ensure the interlock programs in each
jurisdiction minimize drunk driving and positively contribute to
the rehabilitation of offenders and increasing safe driving
behaviors.
I would also like to take a moment to recognize my formal
involvement as the new Chief Financial Officer for the company. I
am very proud to be involved with such an exciting company that
both has phenomenal revenue potential and is also literally saving
lives as a part of its corporate mission. I will be taking the
Chief Financial Officer obligations off of the shoulders of
Laurence Wainer, who has been guiding the company until now as both
the CEO and CFO. As the company continues to grow exponentially,
and BDIC actively pursues its nationwide expansion goals, Mr
Wainer's time is increasingly needed on this nationwide expansion.
I am thrilled to be working alongside this visionary entrepreneur
as a team working in tandem to achieve its objective.
I would like to thank BDIC's management for involving me at this
exciting juncture as the company begins to actively scale. I am
very much looking forward to now being part of the executive team
as we create value for our shareholders. I believe that this
upcoming year will be an exciting one for shareholders as we
continue to realize significant growth and achieve some very
substantial accomplishments. The industry leaders are for the most
part approved in all 50 states and each has an estimated 50,000 -
70,000 BAIID's paying offenders each and every day in the United
States. We will continue to pursue new state approvals as we work
to grow BDIC's national ignition interlock market share to a
similar level. As CFO, I am looking forward to working as a part of
BDIC's management team to continue creating a sustainable business
that consistently increases shareholder value as we move through
the phases of our plan for national expansion.
We will continue to keep our shareholders well informed on our
progress in all areas of the Company's business throughout the
year.
On behalf of the Company, I truly appreciate your continued
support and remember each and every shareholder can take a small
amount of credit for already preventing over 1,000 alcohol related
starts. You never know whose life you might have saved!
Abraham SummersChief Financial OfficerBlow & Drive Interlock
Corp.
FORWARD-LOOKING DISCLAIMERThis report may contain certain
forward-looking statements and information. This material contains
statements about expected future events and/or financial results
that are forward-looking in nature and subject to risks and
uncertainties. Such forward-looking statements by definition
involve risks, uncertainties and other factors, which may cause the
actual results, performance or achievements of mentioned company to
be materially different from the statements made herein.
Contact:Blow & Drive
Interlockwww.blowanddrive.com877-238-4492