secwatch.observer — SEC 8-K summary
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Issuer:     Lifeloc Technologies, Inc (LCTC)
CIK:        0001493137
Form:       8-K
Filed at:   2023-03-14T23:59:59+00:00
Accession:  0001079973-23-000341
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lifeloc Tech reports 2022 net loss of $456K despite 20% revenue growth to $8.482M
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- Revenue $8.482M (+20% YoY); net loss $456K (($0.19)/share) vs net profit $676K ($0.27/share) in 2021.
- One-time gain of $108K from employee retention tax credit in 2022; 2021 had $936K PPP loan forgiveness.
- L-series devices (LX9/LT7) sales grew 360% vs 2021; expected to continue growth.
- SpinDx THC saliva detection testing validates against LCMS at ~10 ng/mL; commercial launch targeted for 2024.
- Supply chain disruptions and higher R&D spending drove loss despite revenue recovery to pre-pandemic levels.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1493137/000107997323000341/0001079973-23-000341-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1493137/000107997323000341/lclc_8k.htm
  HTML page:      https://secwatch.observer/filing/0001079973-23-000341

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer