SOURCE: Blow & Drive Interlock Corp

May 06, 2016 03:00 ET

Ludlow Research Initiates Coverage on BDIC on State Approval of Ignition Interlock Device

BEVERLY HILLS, CA--(Marketwired - May 6, 2016) - Blow & Drive Interlock Corp. (OTCQB: BDIC), a provider of Breath Alcohol Ignition Interlock Devices, announced a research report on the company is now available for review.

In their update, Ludlow Research made note that the recent approval by Kansas Department of Revenue for the Blow & Drive Interlock BDI-747 Wireless BAIID device sets the stage for rapid growth as their device is now approved in nine states, namely California, Colorado, Oregon, Texas, Arizona, Kentucky, Oklahoma, Tennessee, and now Kansas. The Company plans for additional approval in 8-12 states in 2016 as more governments move to pass laws making this technology mandatory for DUI and DWI convictions.

Another key aspect to this approval is that DUI convictions in Kansas include a mandatory ignition interlock device installation and alcohol detection monitoring services for up to 10 years, which could provide for longer term revenue streams per unit for the Company from this state alone.

Additional Units being Deployed

In an 8K filing on May 5, 2016, the Company announced an additional 100 BDI-747/1 devices have been delivered, and leased, putting the total number of devices leased with paying clients at just under 350, with reoccurring credit card billing resulting from these contracts is now approximately $12,500 per month.

The Company sees continued high demand and has another 100 units being assembled and due to arrive at their headquarters in Los Angeles by the end of this month of May. At their current rate of sales and production, the Company believes they are on track to have over 500 units leased with paying clients by the end of the month of June 2016.

As more states mandate Ignition interlocks, such as Blow & Drives BDI-747/1 device, the prospects of more private and institutional capital rise to ramp up even higher deployment of devices into the summer of 2016.

Conclusion

Based on more states passing laws requiring Ignition Interlock devices for DWI convictions, pending device approval in more states, growing monthly unit income, and prospect for increasing investment capital for unit roll-outs, Ludlow Research has initiated coverage on Blow & Drive Interlock Corp.

To download the full report, risks, and disclosures on this company please visit http://www.wallstreetnewscast.com/profile/bdic.html

About Ludlow Research

Ludlow Research is a New York based equity research firm that focuses on providing research coverage and investor awareness services to emerging small-cap companies. For over 14 years we have worked to provide our readers with a simple way of evaluating the current and potential value of small-cap companies, while garnering these clients greater market awareness to new investors. For more information on us please visit www.ludlowresearch.com

About Blow & Drive Interlock Corp.

Blow & Drive Interlock Corporation (OTCQB: BDIC) is a publicly traded company and a provider of automotive and criminal offender monitoring security products. BDIC is making tremendous progress because our state of the art ignition interlock device BDI-747 is approved and available in 9 states for evidentiary as well as preliminary screening use. Our state of the art BDI-747 is the most advanced user friendly IID currently available which can record BAC levels, offers 2 way communication, GPS location technology, image technology and is wireless. www.blowanddrive.com

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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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