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LBAS > SEC Filings for LBAS > Form 8-K on 23-Dec-2013All Recent SEC Filings

Show all filings for LOCATION BASED TECHNOLOGIES, INC.

Form 8-K for LOCATION BASED TECHNOLOGIES, INC.


23-Dec-2013

Regulation FD Disclosure, Financial Statements and Exhibits


Item 7.01. Regulation FD Disclosure

On December 19, 2013 the Company released a letter to its shareholders from CEO, Dave Morse which discloses the following information:

- We anticipate generating approximately $416,000 in revenue for the first fiscal quarter of 2014 (which is September, October, November).

- The FBI and the Forestry Services are in the process of testing our devices and we're continuing to work with the Department of Energy to finalize our joint project which is expected to begin in the first quarter of 2014.

- Our relationship with EE (the largest carrier in the UK) remains strong as we are currently in discussions to expand the scope of our partnership. We are also fairly close to finalizing distribution relationships in Poland, France and Scandinavia. Additionally, a very large theme park in the UK has tested our PocketFinder product and has expressed interest in purchasing units to rent to their guests while they are in the park. We expect to have a final purchasing decision from them by March of 2014.

- A large international airline is currently evaluating our 886 devices and we expect to reach a go/no-go decision in the first calendar quarter of 2014.

- We expecting to have our first auto dealer signed up for auto dealer program by the end of 2013, but it may slide into January, 2014.

- We recently received the necessary government certifications from Ecuador and we have a 1,200 piece purchase order from the government of Ecuador which is currently pending.

- Based on our current order pipeline we expect to generate $4,000,000-$5,000,000 of new sales revenue in calendar year 2014. This estimate does not include recurring subscription revenue, which could be an additional $200,000 - $400,000 per month. Our sales projections are based largely on estimates provided to us by our current stable of resellers and distributors. This estimate also includes a significant re-order from a large existing customer, who has indicated a need for 12,000-15,000 units next year. These estimates do not include sales to the US military.


A copy of the letter 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 Shareholder Letter


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