Serial Com Data

I am trying to figure out the best coding method to Listen and Transmit data continuously. I read in here that looping is bad practice and use timer instead. Anyone has a source code example to give me an idea how to Listen/Transmit Data? VB6 Mscomm has an event that triggers anytime an incoming data is available. Does Serial component in B4A have anything like Mscomm?

I want to do something like this

Start:
Request Data from Extenal Device
Listen and Wait for Carriage Return
Parse Data
Display Data on the Form (Activity)
Goto Start and Perform another request


Thanks and I am looking forward to purchase this software to try out the Serial.
 
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