LOS ANGELES CA--(Marketwired - Dec 3, 2015) - Blow & Drive Interlock Corp (
Dear Shareholders,
BDI is making tremendous progress as we have begun to generate revenue, and I wanted to take this opportunity to update you on our accomplishments and growth strategy.
We believe the market opportunity before us is enormous. In a relatively short period of time, we will become a leader in breath alcohol devices that are approved for evidentiary as well as preliminary screening use.
We are in the process of raising capital to procure parts to build 1,000 of our state of the art BAIIDs (Breath Alcohol Ignition Interlock Device). We are confident that with the required capital and the help of our 3 distributors and 33 independent service centers in 7 states, we can put 1,000 units on the road in short order. Our long-term goal remains to capture over 10% of the market share, which currently stands at 300,000 interlocks in use each day in the United States.
A Large and Underserviced Market Overview:
We believe that the current manufacturers and providers of BAIIDs have underserviced the customer due in large part to what becomes a Scarlett Letter and mandatory nature of the industry's criminal offender customer base. We believe that we will compete and capture our share of the market with transparent pricing, state of the art wireless technology and an empathetic service-based approach to our clients' circumstances.
An Expanding Market:
We have other state applications under review and are hopeful we will continue to receive approvals from the appropriate authorities, which will allow us to become a national provider. Additionally, Federal passage of Alissa's Law along with more states enacting new and stricter mandatory ignition interlock programs makes this a great time to expand nationally.
Improved Financial Performance:
As you may know, we have spent the last two years overcoming federal and state regulatory hurdles. Now that we have our Federal and 7 State certifications, we can successfully penetrate the market, which will translate into an improving financial performance and condition. In just the last few weeks of the third quarter, we finally cleared enough regulatory hurdles to be in a position to generate revenue. Although we banked almost $100,000 in that short period of time our auditor positioned the majority of that revenue as deferred, due to the lease nature of our business and the fact that our state approvals for the distributorships sold were not yet complete.
Additional Contributors to our Growth:
The Arizona Distributorship was sold to Jay Lopez, who has been in the IID industry for well over a decade, formerly as the program director for one of our largest competitors. We are excited to have Jay on our team and are confident that with his know-how, ability and professional contacts, Jay can capture much of the market in Arizona, currently at approx. 30,000 units on the road.
In September, we sold a distributorship in Kansas to the former installer of one of our major competitors. This distributor brings a vast knowledge of wireless installations and quality customer service, which will lead to a greater market share of BDI devices in Kansas. Lastly, we recently sold a distributorship in Lubbock, Texas. Texas works differently than most states as each county has their own diversion programs and our new distributor brings with them a working knowledge of the IID program in Lubbock Texas.
Conclusion:
This is a very exciting time for our company. As a fellow shareholder, my goal is to position Blow & Drive Interlock Corp for long term, sustained growth. We are focused on scaling the business to capitalize on the tremendous market opportunity to create value for our distributors, our partners and our shareholders, and I am pleased with the progress we have made.
Thank you for your continued support. I look forward to communicating our future achievements and progress.
Sincerely,
Laurence Wainer
CEO
Contact Information:
Contact:
Blow & Drive Interlock Corp
Laurence Wainer
CEO
www.blowanddrive.com
877-238-4492