For those wanted to get their 2-cents worth at this year’s annual shareholder meeting for the penny stock of Location Based Technologies, Inc. (LBAS), you’re just going to have to wait another year for it. Unable to get a quorum, owners of LBAS stock will have to settle for the update issued by the Company earlier this morning. With expectations of some extraordinary fiscal year end revenues and possibly even some information about whether the US military, Apple, AT&T or retail consumers are going to be the targeted market as the Company’s GPS technology continues to be a success.
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LBAS Stock Quote
Market Cap: 28.30M
Last: 0.135 ▲ +0.01 (+8.00%)
52Wk High: 0.33
52Wk Low: 0.108
Authorized: 300,000,000
Issued and Outstanding: 209,612,511
14-Day Rel Strength: 51.25%
1st Resistance Point: 0.1417
1st Support Level: 0.1217
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In August, 2012, we initiated coverage on Location Based Technologies and had a “long” look towards LBAS stock. Although the PPS went up around 30% shortly after, it’s down 0.105 from then, about -40%, but things are really hating up in light of the passing of one of the Company’s greatest assets; Board of Director member Ron Warner.
Fortune 500 corporations and government agencies consider the products Location Based Technologies supplies to be the best in the world. Retail consumers are loving the products as well as evidenced last month on Raising America, a show on CNN’s HomeLifeNetwork.
The non-scripted television program did a head-to-head comparison of 3 different GPS devices, one of which was Location Based Technologies top product, the PocketFinder. Of the 3 devices, the PocketFinder was the only one that received positive feedback from the audience which is probably why retail device sales increased approximately 70% from May, 2012 to May, 2013.
Awaiting the fiscal year end numbers, the last reported quarter, the 3 months ended May 31, 2013, had showed some significant improvements. Net revenues from device sales grew to $643,696 and $1,260,828 for the 3 and 9 months ended, respectively, versus $96,543 and $318,631 for the same periods last year, respectively. Net service revenues also grew to $111,483 and $294,063, respectively, versus $37,173 and $49,809, respectively.
What’s more interesting is what the Company has on it’s plate moving forward.
Having gone global, Location Based Technologies is in the process of developing a 3G version of their PocketFinder which will allow them to sell through AT&T’s retail stores and through other territories which only support 3G like Australia and Hong Kong. They are also in the process of developing an App for iPhones and iPads which will enable users to turn their Apple devices into PocketFinder devices.
The FBI has expressed interest in their devices, the Department of Energy wants Location Based Technologies to sell their 886 product to utility companies (water, power and phone companies that provide infrastructure services) in the U.S, and the Company recently signed an agreement with an Apple distributor in Asia who will distribute their products online and to stores in the region. Pretty much, everything is screaming for LBAS stock to start to see some appreciation based on the growth and recent accomplishments.
It also didn’t hurt that they hired two smoking hot Playmates to get their message out there about PocketFinder:
About LBAS Stock
Location Based Technologies, Inc. designs, develops, and sells personal, pet, and vehicle locator devices and services including PocketFinder® People, PocketFinder® Pets and PocketFinder® Vehicles, a small, completely wireless, location device that enables a user to locate a person, pet, vehicle or valuable item at any time from almost anywhere using Global Positioning System and General Packet Radio Service technologies.
Click here to view the SEC filings for LBAS.
Click here to view the website for Location Based Technologies.
Last 5 Trading Sessions:
| Date | Open | High | Low | Last | Change | % Change | Volume |
| 09/17/13 | 0.1250 | 0.1350 | 0.1150 | 0.1350 | +0.0100 | +8.00% | 153,900 |
| 09/16/13 | 0.1200 | 0.1250 | 0.1150 | 0.1250 | -0.0050 | -3.85% | 185,700 |
| 09/13/13 | 0.1300 | 0.1300 | 0.1300 | 0.1300 | unch | unch | 30,000 |
| 09/12/13 | 0.1260 | 0.1320 | 0.1260 | 0.1300 | unch | unch | 26,500 |
| 09/11/13 | 0.1296 | 0.1300 | 0.1296 | 0.1300 | +0.0032 | +2.52% | 29,000 |
Bottom Line:
LBAS is well worth adding to the list of penny stocks to watch for long traders. Trading -59.09% below the 52Wk high and fiscal 2013 revenues due to come in somewhere between $1,555,000 and $1,900,000, depending on how their fiscal Q4 closes, LBAS stock could test that 0.33 high if they come in closer to the high estimate on their 10-K.
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