Blow & Drive Interlock Corp. (BDIC: OTC Pink Current) | Blow & Drive Interlock Corp Now Approved in 6 U.S. States

OTC

Blow Drive Interlock Corp Now Approved in 6 U.S. States

Oct 19, 2015

OTC Disclosure News Service

Beverly Hills, CA

BLOW
DRIVE INTERLOCK CORPORATION

SECTION 1 – Registrant’s
Business and Operations

 

              Entry Into a Material
Definitive Agreement

 

            As previously reported
on a Current Report on Form 8-K filed with the Commission on September 11,
2015, we entered into an Exclusive Distribution Agreement with J C Lopez (“Lopez”)
on September 5, 2015, under which we granted Lopez the exclusive right to lease,
install, service, remove and support our proprietary breath alcohol ignition
interlock device (the “BDI-747/1”) in the states of Arizona and Nevada.
 In exchange for these rights, Lopez agreed to pay us a onetime software
license and support fee of $50,000, as well as $25 per month for each BDI-747/1
unit Lopez has in its inventory beginning thirty (30) days after Lopez receives
the unit.
  On October 7, 2015 we
received notification from the state of Arizona that the BDI-747/1 was approved
as an authorized ignition interlock device in the state.
  As a result, we have received $50,000 for the license and support fee.

 

           As of October 13, 2015, the BDI-747/1 is
approved as an ignition interlock device in California, Oregon, Arizona,
Kentucky, Oklahoma and Texas.  We have
applied for approval of the BDI-747/1 in several other states and are currently
going through the application and review process.

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