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Why Sell? WHO Chief On COVID-19 Pandemic: 'The Worst Is Yet To Come, https://www.npr.org/sections/coronavirus-live-updates/2020/06/29/885049691/who-chief-on-covid-19-pandemic-the-worst-is-yet-to-come
California and Texas both marked record spikes in new COVID-19 infections on Monday, https://www.investing.com/news/coronavirus/a-recipe-for-disaster-us-health-official-says-of-americans-ignoring-coronavirus-advice-2215237
Arizona orders bars and gyms to close, joining other states in reversing reopening! https://apple.news/ARNxyF0fyQLKDLNjFdy4QOA
Many states are reversing courses and other states are also taking notice of opening up to soon. ABMC right place right time and now they are full throttle with FDA approval and no hang ups. Blue Skys ahead
Now that the market has absorbed ABMCs 2019 business before the Covid started I suspect we rise again. I freed up some funds today and hoping to grab another stack tomorrow. No reason to go lower absolutely 0 reason. MM’s have been scrambling for shares since .15 and today I believe we some manipulation for them to make some future money
Aboard
Welcome about Smart Money, great asset to have to the board
Great read! Then in late May, nearly three months after the wave of unregulated antibody tests came to the U.S., the FDA started pulling tests off the market. 50 so far. Including the Anhui DeepBlue test that was sold to Laredo.
https://www.cbsnews.com/news/coronavirus-antibody-testing-inaccurate-data-60-minutes-2020-06-28/
Nice knowing Healgens test has been validated by multiple sources and scientists including the FDA and WHO themselves giving 100% antigens and almost a 98% overall reading.
Yep Added another 15K at .80
Sporty thank you for the post! Correct me please if I’m wrong here but I think your numbers are off for the better sake of ABMC revenues are much higher than what you have posted! Here’s what you said in your post,
Pursuant to the obtained May FDA/EUA approval, as confirmed via e-mails from CEO Melissa Waterhouse, ABMC has shipped over 1.0 million test kits and made $436,000.00 in profits. PROFITS, MEANING THEY HAVE A 43% PROFIT MARGIN. The aforementioned million test kits are not inclusive of the pre-approval test kits sold by ALERGINICOS, as since ABMC does not recognize revenues until the money hits the accounts per se, meaning they have a 60 day turnaround time, under GAAP guidelines, the aforementioned revenues will not be reflected until Q2. Additionally, channel checks have revealed that ABMC has signed NUMEROUS US DEALS, for millions of test kits domestically, numbering, conservatively in excess of ten million test kits. With a 43% profit margin, that means ABMC WILL MAKE $4.3 MILLION DOLLARS on this 10 million test kits. In addition, that does not account for the already 7.5 million test kits sold internationally by their distributors, which is in excess of 7.5 million test kits, meaning that ABMC will make an additional $3.2 million dollars. With the FDA/EUA approval now achieved, those sales are only going to grow exponentially.
Melissa or the company hasn’t given out sold Test kits and she isn’t saying 1M test kits have been sold, she wouldn’t and won’t give out numbers like that just yet, so this is what she said from the 8K,
As of the date of this release, we have recorded revenues of just over $1,000,000 which resulted in approximately $430,000 in profit to ABMC after expenses and commissions.
It’s not 1M test kits it’s only 1M in revenue which means the total test kits sold is around 200,000 assuming a price of $5.00 per test which would mean your projected numbers are way low like way low!
Please let me know if this is how you’re seeing it?
Also side note Bud Selig isn’t the commissioner anymore it’s Rob Manfred
I know all about it dude I’ve studied it and many other companies and it doesn’t mean anything at all. There’s no reason to put out stuff on the board we nothing about. No where had the MLB put out that they Have a contract with one particular company, I’m sorry but it doesn’t mean anything. And the MLB would be nice be not necessary at all. Your posts should be followed by in my opinion when you make statements like that
That was only a few thousand tests and they don’t have a contract! So many experts on this board
Florida and four other states recorded daily highs for cases of COVID-19 on Saturday, highlighting the worsening spread of the coronavirus in parts of the U.S. South and West, prompting some officials to roll back their reopening plans. https://www.investing.com/news/coronavirus/texas-mayor-orders-curfew-as-states-hardhit-by-covid19-backtrack-on-reopening-2214211
I know you’re new to the board but here you go!
Good afternoon,
I cannot comment on what has been posted, stated, etc by anyone other than the Company (this would amount to commenting on rumors as I believe I have already indicated ABMC does not do as part of our communications policy).
I can tell you that Allgenericos is a distributor of ABMC products and has been for a few years now.
ABMC will provide its investors and the general public with material updates either via press release or via periodic reports (including 8-Ks) filed with the SEC. As a public company, we are well aware of what our reporting requirements are and what constitutes (and triggers) a material event.
Stay well,
Melissa
Thank you,
Melissa A. Waterhouse
CEO & Director / American Bio Medica Corporation
(800) 227-1243 or (518) 758-8158, Extension 107
mdwaterhouse@abmc.com
Check us out at:
www.abmc.com
Our offices will be closed on Monday, May 25, 2020 in observance of Memorial Day; a day to thank and honor every patriot who shed their blood and paid the ultimate price for our country and what we stand for. We will resume normal business hours on Tuesday, May 26, 2020.
Your opinion matters to us. Let us know how we are doing at www.abmc.com/survey
This communication may contain information that is privileged and confidential. If you are not the intended recipient of this communication, please inform the sender by responding immediately and deleting this communication from your system. Any unauthorized copying or dissemination of this communication is strictly prohibited.
And the 44K tests to Hillsborough county was announced right around April 1st so that should help understand the delivering time dicing the pandemic and the GAAP reporting for actual earnings
Truth! 1M in sales equating to 43% net profit is only 200,000 test kits deliver estimated at the very low of $5.00 per kit. Florida alone 44K kits, and Allgenericos said they have 10 Million sold and on order alone. 200,000 kits delivered that’s it so far!!! And that’s at the very very low minimum govt pricing. They have sold much much much more than 200,000 kits. Do the Math $$$$$ Stuart was listening
It’s gone now, yield sign up so Monday morning it should be back to current and fidelity is a signal
Stop signed removed already now a yield sign which Monday morning will be gone https://www.otcmarkets.com/stock/ABMC/disclosure
We opened too quickly’: Texas becomes a model for inadequate Covid-19 response https://www.theguardian.com/us-news/2020/jun/27/we-opened-too-quickly-texas-becomes-model-inadequate-coronavirus-pandemic-response
This is where antibody testing really comes into play
Sorry for my grammar I’m walking and texting while the sun is hitting my face! No reason to panic people, there’s kinks that have to be worked out when you first start out shipping product in a pandemic, but I really feel they must have it down by now so the robust sales are ordered, shipped, shipped again then customer reviews and pays the rest of their money then revenue is recorded, that’s over 1 month from when the customers first ordered the product in a perfect scenario so if there’s any unforeseen delays then that only holds up the accounting realization of on the books gains by the 26th of June. Remember worldwide we are now setting records of over 180,000 news cases EVERYDAY and the antibody tests aren’t for the purpose of do you have it, it’s to see if you have ever had it. This isn’t even the second wave, countries are way behind on their first wave, like Brazil and Mexico are seeing now. I’m watching Colombia since I have friends there and they are just starting to see their first wave go come where it’s been getting bigger and higher each day and they have been in complete Lockdown for 3 months where you can only leave your house 1 day a week depending on your zone. ABMC is an international company so we have many options to expand the globe here with an FDA approved product that we make almost 50% margins! America is setting new records now passing April and Mays numbers of positive tests and hospitalizations. This business will be here for along time to come and those customers will be repurchasing over and over
Thank you for your expertise on the accounting matter since I’m sure 99% of us aren’t accountants and most don’t truly understand with what you just layer out in front of us which takes a lot longer to be able to record revenues then you throw in The preorders and waiting then receiving the product, repackaging them and then sending them out to their customers all of this took place with a month long delay from China holding exports out not to mention the product then has to clear customs not only once in China but also in the USA. That is quite the process to realize recorded revenue (GAAP). I’ve taken the time to read the last 8 years of filings before I fully jumped in with as many shares as I have and to have almost $500,000 net profit in such a short period of time when the company had a net loss of of $600,000 in all of 2019 with their current business model is very remarkable and I can’t imagine the feeling ABMC management has right now knowing their company is going to not only make it through Covid they’re going to turn their ship around to heights they’ve never dreamed of. Hence the Stuart the owner of the Rays jumping on board a little OTC stock when he was a partner at Goldman Sachs, that chit doesn’t happen!
Stuart Sternberg
In 1978, Sternberg began his professional career trading equity options part-time at the American Stock Exchange while attending St. John's University, where he earned a degree in finance. After college, Sternberg was hired by investment group Spear, Leeds & Kellogg, eventually becoming a partner in the firm before moving to Goldman Sachs, retiring from that company as a partner in 2002. He has served on various committees and advisory boards in the financial securities industry. Oh and he owns the MLB team Tampa Bay Rays so why would a man like this invest in a pink sheet?
Science is science regardless of what outfit is supported! When a test is validated multiple times you can’t fight that! FDA is supported and they validated it so not much negativity you can say about that.
That’s not Healgen or orient gene so take that bull chit out of here! Our tests have been validated by several institutions and scientists including the world health organization itself and 100% for antigens and almost 98% overall that’s why after further careful review the FDA find Healgen and orient gene a successful antibody test so they have it a FDA approval. Hurts doesn’t it selling all your shares :(
June 26th 177,000 new worldwide cases, within 3-4 days we will be averaging over 200,000 new cases a day
This is a huge reason why the antibody tests are so important to know if you have had it! Scientists are only starting to grasp the vast array of health problems caused by the novel coronavirus, some of which may have lingering effects on patients and health systems for years to come, according to doctors and infectious disease https://www.investing.com/news/coronavirus/scientists-just-beginning-to-understand-the-many-health-problems-caused-by-covid19-2213248
National power Clemson announced Friday that 14 more football players have tested positive for the coronavirus.
The school has revealed 37 positive tests for football players over the past three weeks, including 21 last week. I found this article for you: - https://www.investing.com/news/coronavirus/clemson-reveals-14-more-players-tested-positive-for-covid19-2214102
The whole team spread it amongst one another
45,242 new US cases sets a new record and only getting worst with no end in best future https://www.investing.com/news/coronavirus/texas-orders-bars-closed-again-putting-coronavirus-reopening-in-reverse-2213674
Texas’ coronavirus positivity rate exceeds “warning flag” level Abbott set as businesses reopened https://www.texastribune.org/2020/06/24/texas-coronavirus-infection-rate/
Florida reports nearly 9,000 new cases of COVID-19, shattering single-day record
State reports 39 new deaths, 212 hospitalizations https://www.clickorlando.com/news/local/2020/06/26/florida-reports-nearly-9000-new-cases-of-covid-19-shattering-single-day-record/
We’re obviously connected to Florida. Boom is coming hang tight
Let’s be real! 99% of us wouldn’t invest in ABMC if the Covid wasn’t going on and them distributing a much worldwide needed antibody test and neither would an old Goldman Sachs employee who just happens to be a billionaire that owns the Tampa Bay Rays. With that being said the old ABMC before the Covid doesn’t matter and they managed to market and distribute 1M worth of sales in the first beginning month fighting through the Covid and back logged orders with the Chinese holding up all outdoing shipments of Covid tests for about a month. The Covid isn’t going anywhere and in fact is growing worldwide with no vaccine happening within 9-12 months. They have even managed to sell to governments already and are gearing up for the future sales. Quarter 2 will be humongous and nothing ABMC has ever experienced and may never again. So much going on that we have no clue about. Cool thing is there’s no dilution or warrants and really a clean rap sheet!
The company has already netted more money in one month than they have in years! This is going to be a huge year for ABMC and when the Covid dies down they will have opened the door to their drug testing products to thousands of new possibilities! The Covid saved ABMC from drowning and now will put them on the map
Read this important! Hope most of you can understand that 1M in realized revenue this fast!
Revenue recognition: The Company adopted ASU 2014-09, “Revenue from Contracts with Customers” in the first quarter of Fiscal 2018.The Company's revenues result from the sale of goods and reflect the consideration to which the Company expects to be entitled. The Company records revenues based on a five-step model in accordance with ASU 2014-09. The Company has defined purchase orders as contracts in accordance with ASU 2014-09. For its customer contracts, the Company’s performance obligations are identified; which is delivering goods at a determined transaction price, allocation of the contract transaction price with performance obligations (when applicable), and recognition of revenue when (or as) the performance obligation is transferred to the customer. Goods are transferred when the customer obtains control of the goods (which is upon shipment to the customer). The Company's revenues are recorded at a point in time from the sale of tangible products. Revenues are recognized when products are shipped.
I bet most of you didn’t know ABMC has 2 locations, NY and New Jersey the two hardest hit states!!!
Our facility in Kinderhook, New York houses assembly and packaging of the products we manufacture (including the products we supply on a contract manufacturing basis and the products we supply to a third party who markets the products under their own private label). Our warehouse, shipping department and administrative offices are also within our New York facility.
In our Logan Township, New Jersey facility, we manufacture our drug test strips and test strips for unaffiliated third parties. We also perform research and development in our New Jersey facility.
27 countries, let that sink in
Patents and Trademarks/Licenses
As of December 31, 2019, we have patented our testing products in 27 countries outside the United States and we hold 11 patents in the United States. As of December 31, 2019, we have 5 foreign patent application pending. We are incurring fees related to these patent applications that will be capitalized over the term of the patents.
As of December 31, 2019, we have 15 trademarks registered in the United States and, 10 trademarks registered in countries/regions such as Canada, Mexico, and the United Kingdom.
The 10K proves the most important piece of the puzzle here!!!! ABMC makes 43% net profit after all deductions and that goes into their pocket$$$$$$$ that’s most likely 2-3 Million in Net profit each month and I bet that’s conservative after FDA approval and the Covid ramping up. This is Huge profit for a tiny float and then throw in the companies other business of drug testing with companies hiring and going back to work and I’m sure these companies are requiring an antibody test, possibly. We are obviously very well connected to Florida and even more so now with the owner of the Rays so with Florida being the hotspot that could really produce a lot of revenues
May 21st state of Louisiana still on preorder
American Bio Medica
Phone 518-758-8158
Phone 800-227-1243
Available PPE: Covid 19 test on pre-order, page 46 https://www.cassidy.senate.gov/imo/media/doc/Cassidy%20Disaster%20Guide%20-%20Coronavirus%20May%2021.pdf
You really need to brush up on your DD and What’s been gong on with China holding up shipments and also how long it takes the company to get the tests out to the customers, then throw GAAP in there and you might understand that those small profits are very significant. Throw in there how long Covid will be going on for and probably a conservative 4-5M tests a month that is a ton of Net Profit for a smaller company with a tiny float