---
schema_version: "secwatch.filing_event.v1"
accession: "0001079973-26-000624"
form_type: "8-K"
ticker: "LCTC"
cik: "0001493137"
company_name: "Lifeloc Technologies, Inc"
filed_at: "2026-05-08T23:59:59+00:00"
generated_at: "2026-05-14T21:03:36.930066+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Lifeloc Technologies enters $500K promissory note with CFO/Chairman for SpinDetect development

## Summary
- Principal $500K, 10.5% initial interest, interest-only payments through Dec 31, 2026.
- From Jan 2027, 60 equal monthly installments of principal & interest; full balance due Dec 31, 2031.
- Note secured by deed of trust on company office and substantially all assets, subordinate to Citywide Banks senior debt.
- Proceeds will fund continued development of the SpinDetect product.
- Lender is Vern Kornelsen, the company's CFO and Chairman of the Board.

## SEC filing metadata
- accession: 0001079973-26-000624
- form_type: 8-K
- ticker: LCTC
- cik: 0001493137
- company_name: Lifeloc Technologies, Inc
- filed_at: 2026-05-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1493137/000107997326000624/0001079973-26-000624-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1493137/000107997326000624/lctc_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001079973-26-000624
- JSON: https://secwatch.observer/filing/0001079973-26-000624.json
- Plain text: https://secwatch.observer/filing/0001079973-26-000624.txt

## Source-grounded claims
- claim_id: 763269ca38f45b33c79ac726b0411fd333d78195
  claim: Lifeloc Technologies, Inc incurred loan of $500,000 with Vern Kornelsen at 10.5% per annum (subject to upward adjustment based on changes in the prime rate maturing December 31, 2031.
  evidence_excerpt: On May 4, 2026, Lifeloc Technologies, Inc. (the “Company”) entered into a loan transaction with Vern Kornelsen, the Company’s Chief Financial Officer and Chairman of the Board. The transaction consists of a Promissory Note dated May 1, 2026 (the “Note”) in the principal amount of $500,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1493137/000107997326000624/0001079973-26-000624-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.