Lifeloc Technologies Files 8-K with Key Updates

TL;DR

Lifeloc Tech dropped an 8-K on Jan 7th covering Dec 31st financials and agreements. Check it out.

AI Summary

Lifeloc Technologies, Inc. filed an 8-K on January 7, 2025, reporting on events as of December 31, 2024. The filing includes information on material definitive agreements, unregistered sales of equity securities, Regulation FD disclosures, and financial statements. The company is incorporated in Colorado and based in Wheat Ridge.

Why It Matters

This 8-K filing provides crucial updates on the company's material agreements and financial status, which are important for investors to assess the company's current standing and future prospects.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of material events and financial information, not indicating any immediate or significant new risks.

Key Numbers

• 20250107 — Filing Date (Date the 8-K was filed with the SEC.)
• 20241231 — Period End Date (The reporting period end date for the information contained in the filing.)

Key Players & Entities

• Lifeloc Technologies, Inc. (company) — Registrant
• Colorado (jurisdiction) — State of incorporation
• Wheat Ridge, CO (location) — Business address

FAQ

Key Financial Figures

• $750,000 — "Debenture") in the principal amount of $750,000 and a warrant (the "Warrant") to purcha
• $4.50 — 's common stock at an exercise price of $4.50 per share, subject to adjustment as pro

Filing Documents

• lctc_8k.htm (8-K) — 31KB
• ex10x1.htm (EX-10.1) — 80KB
• ex10x2.htm (EX-10.2) — 13KB
• ex10x3.htm (EX-10.3) — 48KB
• ex99x1.htm (EX-99.1) — 21KB
• 0001079973-25-000046.txt ( ) — 406KB
• lctc-20241231.xsd (EX-101.SCH) — 3KB
• lctc-20241231_lab.xml (EX-101.LAB) — 33KB
• lctc-20241231_pre.xml (EX-101.PRE) — 22KB
• lctc_8k_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On December 31, 2024, Lifeloc Technologies, Inc. (the "Company") entered into a Subordinated Debenture Purchase Agreement (the "Purchase Agreement") with Diamond Bridge Capital, LP (the "Lender"), pursuant to which the Company issued a Subordinated Debenture (the "Debenture") in the principal amount of $750,000 and a warrant (the "Warrant") to purchase up to 62,500 shares of the Company's common stock. The Debenture accrues interest at a fixed annual rate of 8.25% and has a maturity date of December 31, 2030. The principal and accrued interest are due in full on the maturity date, with quarterly interest-only payments through December 2025, followed by monthly payments of principal and interest beginning January 2026, based on a 10-year amortization schedule. The Debenture is subordinated to the Company's obligations to its general and secured creditors and is not secured by any assets of the Company. The Company may prepay the Debenture, in whole or in part, without penalty, upon 30 days' prior notice. The Warrant entitles the Lender to purchase up to 62,500 shares of the Company's common stock at an exercise price of $4.50 per share, subject to adjustment as provided in the Warrant. The Warrant is exercisable at any time from the date of issuance until the earlier of December 31, 2031, or December 31, 2030, if all amounts under the Debenture are paid in full prior to that date. The Warrant also provides the holder with registration rights, obligating the Company to file a registration statement with the Securities and Exchange Commission covering the resale of the underlying shares of common stock upon the holder's exercise of the Warrant. The proceeds of the Debenture will be used for general corporate purposes. Copies of the Purchase Agreement, the Debenture, and the Warrant are filed as Exhibits 10.1, 10.2, and 10.3 to this Current Report on Form 8-K and are incorporated herein by reference. The forego

02 Unregistered Sales of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities. See Item 1.01 above, which disclosures are incorporated herein by reference in relation to the issuance of the Debenture. The offer and sale of these securities was completed under the exemption provided by Rule 506 of Regulation D of the Securities Act of 1933 and/or Section 4(a)(2) of the Securities Act. The Purchaser has represented that it is an accredited investor, as defined in Rule 501 of Regulation D, and that it is acquiring the securities for its own account, and not with a view to the resale or distribution of any part thereof in violation of the Securities Act of 1933, as amended.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. The Company issued a press release on January 7, 2025. The press release is attached hereto as Exhibit 99.1. The information in this Item 7.01 and the exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, regardless of any general incorporation language in such filing.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Subordinated Debenture Purchase Agreement, dated December 31, 2024 10.2 Lifeloc 8.25% Subordinated Debenture, dated December 31, 2024 10.3 Warrant to Purchase Shares of Common Stock, dated December 31, 2024 99.1 Press Release 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: January 7, 2025 LIFELOC TECHNOLOGIES, INC. By: /s/ Vern D. Kornelsen Chief Financial Officer and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR