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LBAS > SEC Filings for LBAS > Form 8-K on 18-Sep-2013All Recent SEC Filings




Regulation FD Disclosure, Financial Statements and Exhibits

Item 7.01 Regulation FD Disclosure

(IRVINE, Calif.) September 18, 2013 -- Location Based Technologies® Inc. (OTCBB:LBAS) a transcript of its 2013 Annual Shareholder's Meeting, which discloses the following information:

- LBT is currently working with the Department of Energy on integrating the DOE's severe weather tracking technology onto LBT's GPS platform. The objective is to enable utility companies across the country to use our devices to locate and track their assets and key personnel. With the DOE's weather tracking technology integrated into our platform, these utility companies (including water, power and phone companies) can watch storm data in real time and allocate people and assets more effectively.

- LBT recently became an authorized reseller of Iridium satellite technology and we are developing a duel Iridium/GSM GPS device. This project has been undertaken at the request of the US military. We may even have our first military purchaser order before we have a working prototype.

- LBT is in the process of developing a 3G version of our PocketFinder, which will enable us to sell through AT&T's retail stores and through other territories which only support 3G like Australia and Hong Kong.

- LBT is currently working with Telcel to bring its products to market in Mexico, and at one time Telcel indicated they could "sell millions of
[PocketFinder devices]".

- Based on our anticipated fiscal Q4 performance for 2013, we believe total revenues for fiscal year 2013 should come in somewhere between $1,555,000 and $1,900,000. Device sales will also increase over 150% from fiscal year 2012 to fiscal year2013.

- LBT will not reach profitability in its fiscal 4th quarter. The Company had a pending order for 10,000 devices from an international corporation that would have made it cash flow positive for the quarter had the LOI closed.

- LBT has been told that AT&T will place another product order for 886 devices. AT&T is planning to install our devices on all of their new emergency equipment. We are going to send our devices directly to the equipment manufacturer so our LBT-886 will be part of the OEM process.

- There are a number of other divisions within AT&T that are also evaluating our products. This includes their commercial division, which is evaluating our 3G products for resale to commercial customers. We may be able to get an order from one of these other divisions before the end of this calendar year.

- LBT is working on an attachment to our 886 device which would enable it to sense and transmit light, temperature and relative humidity data. The FBI has expressed interest in our devices is currently testing a prototype.

- LBT is developing a relationship with Australia's largest carrier, Telstra. We aren't sure what a relationship will look like but it could be a licensing agreement or a reseller agreement. We believe there's a chance of getting something done with Telstra this fiscal year.

- LBT is working on consummating a strategic partnership which would include a capital investment and business relationship with the new partner.

A copy of the transcript is attached as Exhibit 99.1.

This information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act 1934, as amended, and is not incorporated by reference into any filing of the company, whether made before or after the date of this report, regardless of any general incorporation language in the filing.

Item 9.01. Financial Statements and Exhibits

Exhibit # Description
99.1 Transcript

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