Pubdate: Wed, 18 Jul 2001 Source: Los Angeles Times (CA) Copyright: 2001 Los Angeles Times Contact: http://www.latimes.com/ Details: http://www.mapinc.org/media/248 Author: Joanna Corman Bookmark: http://www.mapinc.org/testing.htm (Drug Testing) DRUG-TESTING DEVICE WILL BE TESTED IN AUSTRIA Austrian Ministry Of Interior Will Pay For Study Of System Designed By LifePoint Inc. In Ontario. ONTARIO -- LifePoint Inc., maker of an innovative device that quickly pinpoints drug and alcohol levels with a small amount of saliva, has been chosen by the Austrian government to participate in a study. The study could lead to Austria using the product countrywide, said Linda Masterson, president and CEO of LifePoint. The Austrian Ministry of Interior will pay for the study, to begin in September. Initial results are expected by the end of 2001. The study is funded through mid-2002, according to a company statement. Austrian police would use the device on drivers determined to be impaired after doing a field sobriety test, Masterson said. Then a blood test would be done and sent to forensic toxicologists. The results would be compared. "Based on these results, if the product performs the way they expect it to, they would be using it routinely in the country," Masterson said. As LifePoint has developed its product and conducted testing, its revenue stream has been one way. Company officials recently announced a $7.1-million net loss for the fiscal year ending March 31, or 23 cents per share. Revenues are expected to flow late in the third quarter of this year, Masterson said, as sales begin. LifePoint's stock (AMEX: LFP) has gone from a 52-week high of $7.125 to a low of $2.91. It was trading Tuesday at $3.10. "We're a pre-revenue company," said Michele Clark, chief accounting officer. "We will be releasing a product in September so this will be the last year that we will be a development stage company. The main reason for the loss is we are in fact a development stage company and we have no revenue to offset our expense." The company recently added an Ontario office, increasing its space by 32,000 square feet. Staffing levels also have been on the rise, growing to 75 employees from 17 in April 1999, Clark said. The company also has started manufacturing, she said. The company's product, named Impact, is a small disposable device that from a drop of saliva reads levels of marijuana, opiates, cocaine, amphetamines, alcohol or PCP in the blood with results in about five minutes. The company plans to market the device in law enforcement, including in Europe, emergency rooms and businesses. "This is going to be a very exciting year for us," Clark said. - --- MAP posted-by: Terry Liittschwager