I just opened one up a few minutes ago...
It is surely made by Dorcy. It shares the 1&2AA body and tail cap while the converter board sits in slot in the tube like the 1AAA. It has a single LED with magnifier lens in bezel. The spot is quite blue and there are some rings outside of the central hot spot, but the are more than an order of magnitude dimmer. Seems as bright as my MonoLith+ on the low setting (Q4H LD @ 70mA with NX01).
The circuit is a two transistor unregulated type almost exactly like that in the Brinkman (circa 2001)
Brinkman Circuit . There probably isn't much that can be done with it without replacing much of it - converter, LED, lens, etc.
There is a lens which focuses the single LED to very tight spot. Its a shame the LED is so dim (compared to a LUX). It might be fun to try the lens with a high dome...