SOURCE: Blow and Drive Interlock Corporation

Blow and Drive Interlock Corporation

August 08, 2016 16:23 ET

BDIC Engages Gnosiis International; Will Be Appointing Abraham Summers as Chief Financial Officer

BEVERLY HILLS, CA--(Marketwired - Aug 8, 2016) - Blow and Drive Interlock Corporation (OTCQB: BDIC) is proud to announce that it has entered into a Memorandum of Understanding with Gnosiis International to immediately begin assisting the company scale and expand as a part of efforts to build out a nationwide interlock company.

"We are actively involved in discussions with potential financial partners and Gnosiis International is providing Blow & Drive with a comprehensive economics research and analysis that is already proving to be very valuable in these discussions," said Laurence Wainer, Chief Executive Officer of Blow & Drive Interlock. "We have very strong data now that not only justifies that we, in fact, are on track to be a company with gross sales exceeding $100 million annually, but we also have a clear path to achieve this objective."

As a part of the arrangement, Blow & Drive will be appointing Abraham Summers, Gnosiis International's Managing Partner, to be serving as the Chief Financial Officer of Blow & Drive Interlock. "I am particularly excited about this," said Mr. Wainer, "as it will be freeing up my time and resources to focus on increasing the company's market share, which is my primary strength. Increasingly, my time and experience is being needed to focus on building out the infrastructure of our criminal offender monitoring business nationwide. The appointment of Abraham Summers as CFO is separating the CEO and CFO responsibilities, in accordance with Rule 13(a)-15 of the Securities and Exchange Act of 1934 and there will now be more than one officer in charge of internal controls. With increasingly scaling revenues, we believe it is appropriate to appoint a separate CFO to be taking responsibility over our internal finances, separate and apart from the CEO."

Abraham Summers is a seasoned entrepreneur with a unique background in applied microeconomics and administration. He brings over a decade of experience in early stage, high-growth ventures and has been a guest lecturer at Columbia Law School on the subject of entrepreneurship. The addition of Summers to the Blow & Drive executive team is a testament to the company's commitment to attract the highest level of professional talent and build shareholder value over the long-term.

"Research from both Forbes and Bloomberg are estimating the Breath Alcohol Detection market alone will reach anywhere from $1.1 Billion to $3.2 Billion a year by 2018-20," said Summers. "Blow & Drive Interlock is the only publicly traded company in the United States giving investors access to this market and I intend to help guide the company in capturing the greatest amount of this marketshare and maximizing value to our shareholders. I think it is completely feasible for Blow & Drive to be a market leader in this growing industry in just a few short years."

In April 2016, the California Senate Public Safety Committee voted unanimously (7-0) in favor of SB 1046 by Senator Jerry Hill (D-San Mateo). The bill aims to make ignition interlocks a requirement statewide -- not just in Alameda, Los Angeles, Tulare and Sacramento counties, as it now stands in a pilot program. Mothers Against Drunk Driving is actively lobbying Congress for the passage of legislation (being referred to as Alisa's Law, in honor of the daughter of MADD National President Jan Withers), which would push states to require the use of ignition interlock devices for a minimum of six months for all convicted drunk driving offenders. There are approximately 1.5 million DUI convictions annually. States that fail to comply would face a reduction in federal transportation funding. This would expand national market for Breath Alcohol Ignition Interlocks by up to five-fold.

Blow & Drive manufactures the BDI-747, which is the only wireless Alcohol Ignition Interlock currently available in the entire United States. The company has received eleven state approvals and currently has service centers in California, Oregon, Kentucky, Texas, Arizona, Tennessee and Kansas. The company has several additional state applications under review, and is actively focused on building a nationwide criminal offender monitoring company for monitoring of Offenders of all types, including parolees on house arrest. The company is well on the way to becoming a nationwide provider of home and auto based criminal release monitoring programs.

For more information on Blow & Drive Interlock and the company's distributor opportunity program, please visit www.blowanddrive.com or call 877-238-4492.

FORWARD-LOOKING DISCLAIMER
This 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.

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