Lifeloc Technologies, Inc
For the period ended Dec 31, 2024. Filed Mar 28, 2025.
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FY2024 · Filed Mar 28, 2025
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Balance Sheets as of December 31, 2024 and 2023
Balance Sheets
ASSETS
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $1,243,746 | $1,766,621 |
| Accounts receivable, net | 732,541 | 812,126 |
| Inventories, net | 2,996,397 | 3,024,834 |
| Federal and state income taxes receivable | 80,560 | — |
| Prepaid expenses and other | 40,045 | 105,967 |
| Total current assets | 5,093,289 | 5,709,548 |
| PROPERTY, PLANT AND EQUIPMENT: | ||
| Land | 317,932 | 317,932 |
| Building | 1,928,795 | 1,928,795 |
| Real-time Alcohol Detection And Recognition equipment and software | 569,448 | 569,448 |
| Production equipment, software and space modifications | 1,349,839 | 1,154,803 |
| Training courses | 432,375 | 432,375 |
| Office equipment, software and space modifications | 254,333 | 216,618 |
| Sales and marketing equipment and space modifications | 226,356 | 226,356 |
| Research and development equipment, software and space modifications | 787,664 | 480,684 |
| Research and development equipment, software and space modifications not in service | 128,007 | — |
| Less accumulated depreciation | (3,613,452) | (3,326,837) |
| Total property and equipment, net | 2,381,297 | 2,000,174 |
| OTHER ASSETS: | ||
| Patents, net | 78,723 | 64,439 |
| Deposits and other | 12,261 | 111,157 |
| Deferred income taxes | 1,159,199 | 806,652 |
| Total other assets | 1,250,183 | 982,248 |
| Total assets | $8,724,769 | $8,691,970 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | $251,627 | $402,231 |
| Term loan payable, current portion | 53,195 | 51,588 |
| Income taxes payable | — | 44,952 |
| Customer and tenant deposits | 43,814 | 195,719 |
| Accrued expenses | 293,981 | 329,311 |
| Deferred revenue, current portion | 54,458 | 79,036 |
| Product warranty reserve | 46,500 | 46,500 |
| Total current liabilities | 743,575 | 1,149,337 |
| TERM LOAN PAYABLE, net of current portion and debt issuance costs | 1,119,152 | 1,170,243 |
| SUBORDINATED DEBENTURE PAYABLE, net of current portion and debt issuance costs | 630,000 | — |
| DEFERRED REVENUE, net of current portion | 6,165 | 11,565 |
| Total liabilities | 2,498,892 | 2,331,145 |
| COMMITMENTS AND CONTINGENCIES (Note 6) | ||
| STOCKHOLDERS' EQUITY: | ||
| Common stock, no par value; 50,000,000 shares authorized, 2,664,116 shares outstanding (2,454,116 outstanding at December 31, 2023) | 5,586,014 | 4,668,014 |
| Retained earnings | 639,863 | 1,692,811 |
| Total stockholders' equity | 6,225,877 | 6,360,825 |
| Total liabilities and stockholders' equity | $8,724,769 | $8,691,970 |
LIFELOC TECHNOLOGIES, INC.
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