secwatch.observer — SEC 8-K summary
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Issuer:     Lifeloc Technologies, Inc (LCTC)
CIK:        0001493137
Form:       8-K
Filed at:   2025-01-07T23:59:59+00:00
Accession:  0001079973-25-000046
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lifeloc Technologies secures $750,000 subordinated debenture with 8.25% interest and warrants
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- Issued $750,000 subordinated debenture to Diamond Bridge Capital at 8.25% interest, maturing Dec 31, 2030; quarterly interest through 2025 then monthly P&I.
- Warrant to purchase 62,500 shares at $4.50 per share, exercisable until Dec 31, 2031; includes registration rights.
- Proceeds to support growth, fund R&D and commercialization of SpinDx drug detection technology.
- Projections show path to profitability by 2027 with sales growing from $8.5M (2024E) to $19.5M (2028E).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1493137/000107997325000046/0001079973-25-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1493137/000107997325000046/lctc_8k.htm
  HTML page:      https://secwatch.observer/filing/0001079973-25-000046

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