Lifeloc raises $798K via private placement, appoints new director, secures $750K credit line

Lifeloc Technologies, Inc

Issued 210,000 shares at $3.80 to EDCO Partners, raising $798K; EDCO now holds 77.5% of common stock.
Robert Greenlee resigned from board; replaced by Adam Kashenberg, CEO of Colorado Biolabs, effective July 23.
Obtained $750K line of credit from Citywide Banks on July 19, 2024.
Plans beta testing of saliva THC test (SpinDx) in 2024, targeting commercial launch in 2025.

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Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Robert Greenlee

Director

LCTC · Lifeloc Technologies, Inc

Successor: Adam Kashenberg
Filed: July 26, 2024, 7:59 PM ET

On July 22, 2024, Robert Greenlee notified the Company by letter of his resignation from the board of directors (the “Board”) of the Company.

Appointed

Adam Kashenberg

Director

LCTC · Lifeloc Technologies, Inc

Effective: 2024-07-23
Filed: July 26, 2024, 7:59 PM ET

On July 23, 2024, in accordance with the Company’s Amended and Restated Bylaws (the “Bylaws”), the Board appointed Adam Kashenberg to fill the vacancy on the Board and on the Company’s audit committee created by Mr. Greenlee’s resignation.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert Greenlee resigned as Director at Lifeloc Technologies, Inc.

Action: resigned
Role: Director

Exact text from the filing

On July 22, 2024, Robert Greenlee notified the Company by letter of his resignation from the board of directors (the “Board”) of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Adam Kashenberg was appointed as Director at Lifeloc Technologies, Inc.

Action: appointed
Role: Director

Exact text from the filing

On July 23, 2024, in accordance with the Company’s Amended and Restated Bylaws (the “Bylaws”), the Board appointed Adam Kashenberg to fill the vacancy on the Board and on the Company’s audit committee created by Mr. Greenlee’s resignation.

View on SEC.gov

Lifeloc Technologies, Inc filing history →

Source: SEC EDGAR

accession 0001079973-24-001110

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