Blow & Drive Interlock Corp.
(OTCQB: BDIC) is pleased to announce to its shareholders and the investment
community that last week the company’s attorney was given approval to begin
filings to create a preferred share class of stock. CEO Laurence Wainer,
has committed to exchanging between 3M to 9M of his Common Stock holdings in
the company in exchange for Non-Trading Preferred Shares. This exchange of
shares owned by the company’s majority shareholder in exchange for non-trading
preferred shares will lower the number of outstanding common shares &
emphasizes the company’s the long-term commitment to its shareholders.
The company’s public float with the DTC is just over 5M shares.
The company cannot give the exact date that this share exchange
will take effect; however, the company is working diligently to get this
process completed as soon as possible and does not expect that it will take
very long. An announcement will be made verifying completion of the stock
transfer once all has been finalized.
About
BDIC
Blow & Drive Interlock Corp (BDIC) based in Los Angeles,
California, a publicly traded company that manufactures, distributes and its’
Ignition Interlock Device Model# BDI-747 across the United States.
The BDI-747 is a state of the art ignition interlock device,
breath-alcohol testing device approximately the size of a smartphone. The
ignition interlock device requires the driver to exhale into the device prior
to starting the vehicle. The device will prevent the vehicle from starting if
the driver’s blood-alcohol content exceeds a predetermined set level.
Interlocks are required for use by DUI or DWI (“driving under the
influence” or “driving while intoxicated”) offenders as part of
their mandatory court or motor vehicle department program.
The individual subject to the court or motor vehicle order pays
for the installation/removal and monthly lease of the ignition interlock
device. The Company will provide monitoring of the device at predetermined
intervals per state guidelines. Data will be collected and made available to
the appropriate authorities for review. The data will show all breath tests
performed and/or missed tests as well as any attempt to bypass or circumvent
the system. For states that require a picture or GPS location of the person
performing the test, the device is equipped with camera & GPS technologies.
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