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The LifeCard is a single-shot rimfire pistol.
Because it needs to be unfolded in order to be fired, it is not considered an NFA (National Firearms Act) item. If it were capable of being fired in this folded up position it would be classed as an AOW (Any Other Weapon) and require a $5 tax stamp. When unfolded it looks enough like a real firearm to satisfy BATF (Bureau of Alcohol Tobacco and Firearms) requirements.