|By Marketwired .||
|September 23, 2016 01:24 PM EDT|
LOS ANGELES, CA -- (Marketwired) -- 09/23/16 -- Blow & Drive Interlock Corp. (OTCQB: BDIC) announced that the company has issued a letter to shareholders to provide an update on the company's recent progress.
I am pleased to announce that since our last shareholder update letter BDI has continued making incredible progress. We have expanded sales and, to-date, we have manufactured and leased over 600 BDI 747 units. The company received its last batch of 100 units on or about September 9th and we are pleased to announce we are once again sold out as those units have all been leased, once again increasing the value of reoccurring revenue stream.
The Company recently signed a letter of intent with The Doheny Group to fund production of our proprietary BDI-747 interlock to meet customer demand. The Company and The Doheny Group anticipate closing funding on September 30th, 2016 and this will enable the company to scale to over 2,100 units, which is more than double our initial year-end projections. We remain committed to steering clear of any and all "toxic" convertible debt and strongly believe this will benefit our shareholders over the long term.
I am very pleased at how fast BDIC is gaining significant market and truly believe, that with our superior technology and software we are going to outsell our competition and quickly become the leader in the BAIID industry. We are very well on our way to achieving my goal of growing our company nationwide and achieving 10,000's of units on monthly reoccurring lease payments.
Thank you for you continued support. Remember Every Shareholder of BDIC Contributes to Keeping the Roads safe for Sober Motorists. I look forward to communicating our future achievements and the progress of our financing with The Doheny Group.
This report may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of mentioned company to be materially different from the statements made herein.
Blow & Drive Interlock Corporation
1080 S. La Cienega Blvd
Los Angeles, California 90035
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