ABMC American Bio Medica

American Bio Medica Corporation manufactures and markets accurate, cost-effective immunoassay test kits, primarily point of collection tests for drugs of abuse. The Company and its worldwide distribution network target the workplace, government, corrections, clinical and educational markets. ABMC’s Rapid Drug Screen®, Rapid ONE®, RDS® InCup®, Rapid TOX® and Rapid TOX Cup® II test for the presence or absence of drugs of abuse in urine, while OralStat® tests for the presence or absence of drugs of abuse in oral fluids. ABMC’s Rapid Reader® is a compact, portable device that, when connected to any computer, interprets the results of an ABMC drug screen, and sends the results to a data management system, enabling the test administrator to easily manage their drug testing program.
Company profile
Ticker
ABMC
Exchange
Website
CEO
Melissa A. Waterhouse
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
SEC CIK
Corporate docs
IRS number
141702188
ABMC stock data
()
Calendar
31 Mar 21
13 Apr 21
31 Dec 21
Financial summary
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Sep 20 | Jun 20 | Mar 20 | Sep 19 | |
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Annual (USD) |
Dec 19 | Dec 18 | Dec 17 | Dec 16 | |
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Financial data from company earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 61K | 61K | 61K | 61K | 61K | 61K |
Cash burn (monthly) | 54.67K | 3.17K | 57.33K | 42.33K | 47K | 37.33K |
Cash used (since last report) | 353.46K | 20.47K | 370.7K | 273.72K | 303.89K | 241.39K |
Cash remaining | -292.46K | 40.53K | -309.7K | -212.72K | -242.89K | -180.39K |
Runway (months of cash) | -5.3 | 12.8 | -5.4 | -5.0 | -5.2 | -4.8 |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
1 Jul 20 | Neff Jean | Common Shares | Grant | Aquire A | No | No | 0.37 | 35,461 | 13.12K | 66,226 |
1 Jul 20 | Jerome Peter | Common Shares | Grant | Aquire A | No | No | 0.37 | 35,461 | 13.12K | 80,610 |
1 Jul 20 | Chaim Davis | Common Shares | Grant | Aquire A | No | No | 0.37 | 35,461 | 13.12K | 240,561 |
8 Apr 20 | Neff Jean | Common Shares | Grant | Aquire A | No | No | 0.21 | 7,751 | 1.63K | 30,765 |
8 Apr 20 | Jerome Peter | Common Shares | Grant | Aquire A | No | No | 0.21 | 7,751 | 1.63K | 45,149 |
Institutional ownership Q1 2021
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
13F holders |
Current |
---|---|
Total holders | 0 |
Opened positions | 0 |
Closed positions | 0 |
Increased positions | 0 |
Reduced positions | 0 |
13F shares |
Current |
---|---|
Total value | 0 |
Total shares | 0 |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners |
Shares | Value |
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Financial report summary
?Risks
- The drug testing market is highly competitive.
- Possible inability to hire and retain qualified personnel.
- Any adverse changes in our regulatory framework could negatively impact our business, and costs to obtain regulatory clearance are material.
- We rely on intellectual property rights and contractual non-disclosure obligations to protect our proprietary information (including customer information). These rights and obligations may not adequately protect our proprietary information, and an inability to protect our proprietary information can harm our business.
- One of our customers accounted for more than 10% of our total net sales in Fiscal 2019.
- We depend on key personnel to manage our business effectively.
- We rely on third parties for raw materials used in our drug test products and in our bulk test strip contract manufacturing processes.
- We have a significant amount of raw material and “work in process” inventory on hand that may not be used in the year ended December 31, 2020 if the expected configuration of sales orders is not received at projected levels.
- Inability to meet our operating plans could have a material adverse effect on our future performance.
- We incur costs as a result of operating as a public company, and our management will be required to devote substantial time to compliance initiatives.
- Inability to comply with our debt obligations could result in our creditors declaring all amounts owed to them due and payable with immediate effect, or result in the collection of collateral by the creditor; both of which would have an adverse material impact on our business and our ability to continue operations.
- We have a history of incurring net losses and as of December 31, 2019, we have a negative stockholders’ equity.
- We may need additional funding for our existing and future operations.
- Potential issuance and exercise of new options and warrants and, exercise of outstanding options could adversely affect the value of our securities.
- Substantial resale of restricted securities may depress the market price of our securities.
- Our securities are currently trading on the OTC Markets Group (under their OTC Pink® Open Market), and are subject to SEC “penny stock,” rules, which could make it more difficult for a broker-dealer to trade our common shares, for an investor to acquire or dispose of our common shares in the secondary market and for us to retain or attract market makers.
Content analysis
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Positive | ||
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Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. junior Avg
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New words:
announced, ASC, certified, CLIA, complement, criteria, evidence, flat, formal, great, high, Laboratory, Logix, malaria, order, portfolio, preferred, presumption, range, rebut, rescinding, respiratory, RSV, RT, run, single, Smart, step, tool, turnover, vaccine, wide
Removed:
director, expanding, lost
Financial reports
NT 10-K
Notice of late annual filing
31 Mar 21
10-Q
2020 Q3
Quarterly report
16 Nov 20
10-Q/A
2020 Q2
Quarterly report (amended)
25 Sep 20
10-Q
2020 Q2
Quarterly report
15 Sep 20
NT 10-Q
Notice of late quarterly filing
14 Aug 20
10-Q
2020 Q1
Quarterly report
31 Jul 20
10-K/A
2019 FY
Annual report (amended)
24 Jul 20
NT 10-Q
Notice of late quarterly filing
28 Jun 20
10-K
2019 FY
Annual report
26 Jun 20
NT 10-K/A
Notice of late annual filing (amended)
14 May 20
Current reports
8-K
Entry into a Material Definitive Agreement
3 Mar 21
8-K
Departure of Directors or Certain Officers
11 Feb 21
8-K
Submission of Matters to a Vote of Security Holders
21 Dec 20
8-K
Abmc Announces Common Stock Purchase Agreement for Up to $10M with Lincoln Park Capital Fund, LLC
10 Dec 20
8-K
Abmc Reports Third Quarter 2020 Results
16 Nov 20
8-K
Abmc Reports Second Quarter 2020 Results
15 Sep 20
8-K
Other Events
20 Aug 20
8-K
Abmc Reports First Quarter 2020 Results
31 Jul 20
8-K
Abmc Reports Fourth Quarter and Year End 2019 Results
26 Jun 20
8-K
Regulation FD Disclosure
2 Jun 20
Registration and prospectus
424B3
Prospectus supplement
12 Jan 21
S-1/A
IPO registration (amended)
7 Jan 21
S-1
2020 Q3
IPO registration
29 Dec 20
S-1
IPO registration
6 Apr 14
25-NSE
Exchange delisting
5 Oct 09
S-3/A
Shelf registration (amended)
4 May 09
S-3
Shelf registration
14 Apr 09
REGDEX
Notice of sale of securities
17 Aug 08
25-NSE
Exchange delisting
17 Aug 06
POS AM
Prospectus update (post-effective amendment)
28 Jun 06
Proxies
DEFA14A
Additional proxy soliciting materials
28 Oct 20
DEF 14A
Definitive proxy
26 Oct 20
DEF 14A
Definitive proxy
26 Apr 19
DEF 14A
Definitive proxy
19 Apr 18
DEF 14A
Definitive proxy
26 Apr 17
DEF 14A
Definitive proxy
26 Apr 16
DEF 14A
Definitive proxy
20 Apr 15
DEF 14A
Definitive proxy
24 Apr 14
DEF 14A
Definitive proxy
25 Apr 13
DEF 14A
Definitive proxy
26 Apr 12
Other
EFFECT
Notice of effectiveness
12 Jan 21
CORRESP
Correspondence with SEC
7 Jan 21
UPLOAD
Letter from SEC
3 Jan 21
EFFECT
Notice of effectiveness
13 Apr 14
UPLOAD
Letter from SEC
19 Jan 10
CORRESP
Correspondence with SEC
30 Dec 09
UPLOAD
Letter from SEC
21 Dec 09
CORRESP
Correspondence with SEC
9 Jun 09
EFFECT
Notice of effectiveness
9 Jun 09
CORRESP
Correspondence with SEC
7 Jun 09
Ownership
SC 13G/A
AMERICAN BIO MEDICA / Sternberg Stuart ownership change
14 Jan 21
4
AMERICAN BIO MEDICA / Chaim Davis ownership change
2 Jul 20
4
AMERICAN BIO MEDICA / Jean Neff ownership change
2 Jul 20
4
AMERICAN BIO MEDICA / Peter Jerome ownership change
2 Jul 20
SC 13G
AMERICAN BIO MEDICA / Sternberg Stuart ownership change
24 Jun 20
SC 13G/A
AMERICAN BIO MEDICA / MORONEY JOHN J ownership change
27 Apr 20
5
AMERICAN BIO MEDICA / JOHN J MORONEY ownership change
27 Apr 20
4
AMERICAN BIO MEDICA / Chaim Davis ownership change
10 Apr 20
4
AMERICAN BIO MEDICA / Peter Jerome ownership change
10 Apr 20
4
AMERICAN BIO MEDICA / Jean Neff ownership change
10 Apr 20