BLOW & DRIVE INTERLOCK CORPORATION (OTCMKTS:BDIC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
| Entry into a Material Definitive Agreement. | |
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On or around February 27, 2017 we entered into a material definitive agreement with Blow and Drive San Antonio, LLC. The agreement gives Blow Drive San Antonio, an independently owned company, a license to use the Blow and Drive Interlock name and relating branding as a part of a non-exclusive distribution agreement. This is a part of our ongoing expansion efforts to increase our marketshare in the state Texas. The distribution agreement gives Blow and Drive San Antonio the non-exclusive right to provide ignition interlock services throughout Bexar County, Texas, which includes the city of San Antonio. We received a territory fee and the rights to ongoing reoccurring revenue generated by the distributor. This represents a large market for us because San Antonio is the second largest city in the state of Texas, which is the largest interlock market in the United States. |
About BLOW & DRIVE INTERLOCK CORPORATION (OTCMKTS:BDIC)
Blow & Drive Interlock Corporation manufactures, markets, leases, installs and monitors a Breath Alcohol Ignition Interlock Device (BAIID). The Company has developed BDI-747 Ignition Interlock Device (the BDI-747/1), which is a mechanism that is installed on the steering column of an automobile and into which a driver exhales prior to starting their vehicle. The device in turn provides a blood-alcohol concentration analysis. If the driver’s blood-alcohol content is higher than a certain pre-programmed limit, the device prevents the ignition from engaging and the automobile from starting. These devices are required for use by driving under the influence or driving while intoxicated offenders as part of a mandatory court or motor vehicle department program. The market for the BDI-747/1 Ignition Interlock Device is as a breathalyzer device to be used by persons convicted of a driving under the influence of alcohol. BDI-747/1 is manufactured by its subsidiary, BDI Manufacturing, Inc. BLOW & DRIVE INTERLOCK CORPORATION (OTCMKTS:BDIC) Recent Trading Information
BLOW & DRIVE INTERLOCK CORPORATION (OTCMKTS:BDIC) closed its last trading session down -0.020 at 0.380 with 7,038 shares trading hands.
