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RSI is the highest it's been since we were trading around .60. Looks like people are starting to regain interest based off the chart. A good Q and we'll move up quickly again.
She's been ignoring me lately. Somehow I made it on to her naughty list.
No clue what that entails, but I don't think they'll get into the PPE market. Based off of prior financials, it looks like they got into covid tests for quick cash. Given how competitive the PPE market is, I don't think they'd got that route. While I don't know what she meant by her statement, I wouldn't be surprised (as mentioned prior) if she goes into another covid test line like saliva testing. Her prior e-mail to me seemed to express excitement.
Got a buy alert today?
Think of a bell curve. We’re at our lows here. Good info on that Q and we’re moving up quick.
Haha, no reason to ignore you. You bring good insight here. Appreciate the clarity.
At this moment, ABMC is up 400%+ on the year.
Likely a quick flip. Bid was up nearly .04.
Up 20%+ in the past two days now. Seems like momentum is building slightly in anticipation of the Q.
I think it's MM's personally
Bid is coming up, ask is thinning out. Trading a lot better today.
ABMC hiring for sales/customer service
This was from 19 days ago
https://www.google.com/search?sxsrf=ALeKk01rd3DkO_0sKS7P5jVF7e3g7FtPqQ:1598985167875&ei=z5NOX5LjNOGf_Qa426yoAw&q=america+bio+medica+customer+service+jobs&oq=america+bio+medica+customer+service+jobs&gs_lcp=CgZwc3ktYWIQAzIHCCEQChCgATIHCCEQChCgATIFCCEQqwIyBQghEKsCMgUIIRCrAjoHCAAQRxCwA1DMBFjoB2DYCGgBcAB4AIABY4gBjAKSAQEzmAEAoAEBqgEHZ3dzLXdpergBAsABAQ&sclient=psy-ab&uact=5&ibp=htl;jobs&sa=X&ved=2ahUKEwif2dv4y8jrAhXLmuAKHVaiARoQiYsCKAJ6BAgKEBI&sxsrf=ALeKk00gUyFf7Ndghe5eJvrauVh2UduTdw:1598985170526#htivrt=jobs&htidocid=6x04jiDg0B9ScDbFAAAAAA%3D%3D&fpstate=tldetail
Great find!
Yeah, gained the slighest bit of momentum. Looking at the chart, we've definitely plateaued on the bottom of the curve. A decent Q and we should start retracing quickly.
Thanks, I missed it. Hopefully they wrap up soon.
Anyone been in touch with Melissa? Curious if there's any updates on the timing of the Q.
If we get some great Q3 sales, we'll pop up real quick. Just need that Q.
Big spread between bid/ask. Not much action here. Need that Q.
They have not, no
We've gotten a 44k order from Hillsborough. Potentially more, but we don't know.
We know that we're the preferred vendor of Louisiana, but don't know sales.
We know that we're doing business in Latin America via Allgenericos, but don't know sales.
This Q should clear a lot of that up.
Loving that big bid wall. Holding up support.
I think you're overanalyzing the quote. It was in relation to clarifying if revenue is reported based off of when a product is ordered or shipped.
That's in relation to numbers being reported; not an 8-K, etc. Unless I misunderstood your original post, which is possible.
I don't remember seeing that, but could be wrong. If you see it, definitely let me know.
She said she'll drop material events. I don't think shipments to existing clients qualifies, personally. We'll see what the Q says.
Well, thankfully we have international distribution then.
Current State of $ABMC----PLEASE READ
Hey All,
So I figured i'd put together a huge write-up on the current state of $ABMC. Obviously, there's been a lot of disappointment lately, but I think there is a reason for optimism. I wanted to spell everything out and clear up some confusion given that I've fortunately had good e-mail communication with Melissa. If you want this stickied, let me know. So first, I wanted to start with the chart:
The Chart
One of the huge positives of ABMC is the current state of the chart. While a lot might laugh, take a look at some of the indicators. For one, we keep bouncing off the bottom of the RSI which at the moment says we're way oversold. We were at "appropriate" levels around $.90-$1.10. The MACD shows that we're due for an upswing if we get information that excites new investors. They'll see that it's way oversold and it'll be a time to pounce. We currently have support at .26 based off the 200 SMA.
Q2
Obviously we're waiting on Q2 numbers, but we have a rough idea on what Q2 sales should look like. We're likely looking around $1.5 million in revenue with very strong profit margins. As Melissa indicated in an 8-K prior, up until June 26th, ABMC had done a little over a million in covid sales leaving a few days left in the quarter for additional sales. Given how other drug tests sales had been affected by covid, I think $1.5 mil is a fair estimate.
Shipment Delays
Also indicated on that 8-K was the mentioning of logistics issues/shipment delays. ABMC only started shipping product in May. Those issues were resolved and as of 8/4, had been resolved as indicated in the below e-mail exchange:
Me:
In your most recent filings, you expressed logistical issues with China and getting the tests. Have those since been resolved or are you still facing issues?
Melissa:
In the filing we did state that there were initially issues with supply due to specific regulatory events that occurred from March 2020 until May 2020. Our filing was just made last week. If the issues were continuing, we would have indicated that in the document.
Distribution
We all know that we have distribution through many channels including Allgenericos. The biggest question that we've been waiting for months to hear about was if the tweet by Allgenericos was legitimate. If it was, we should start seeing some of those sales in Q3 given the Q2 shipment delays. Also worth noting that as others have pointed out, Allgenericos now has a US website. Here is the website: https://allgenericos.us/
Here is the infamous tweet stating ordering of large quantities for distribution from ABMC:
In addition, we know that we have large distribution in the state of Louisiana. As we know now, we don't have a huge contract in place with them, however we are the preferred vendor for ordering based off of the governor's website here:
Page 47: https://www.cassidy.senate.gov/imo/media/doc/Cassidy%20Disaster%20Guide%20-%20Coronavirus%20June%209.pdf
Q3/Future/Sales
At this point, we don't know what the future holds for ABMC. We do know that Melissa has stated that she plans to get the stock price back on track by committing to filing on time going forward (documented in the most recent 8-K), releasing material info as it comes, and putting up sales. Here recent e-mail to me regarding saliva testing gives optimism that ABMC could look to break into another LOB (line of business). Here is the quote:
We continually review new products on the market (including those for Covid-19) and look for products that would be a compliment to the Rapid AB test we are selling. We are aware of the Saliva Direct PCR system and its recent EUA issuance over the weekend. It does seem to have advantages over the PCR nasal systems (not as uncomfortable as swabs and their testing platform (machine) is supposed to be more flexible than many of the PCRs currently on the market and it runs in half the time of most PCRs). This test should not be confused with AB testing; it is a diagnostic.
I’m not advocating for her, but I do think some in here are being too harsh on her.
I will say, this time around, it seems like it’s on the auditors. She submitted the file a week or two before the deadline. The auditors have had it for 3+ weeks. It shouldn’t take more than 1-1.5 weeks. With that said, they should look at a new CPA firm.
I have it from an e-mail on August 4th, so as of 8/4, they had no issues.
Me:
In your most recent filings, you expressed logistical issues with China and getting the tests. Have those since been resolved or are you still facing issues?
Melissa:
In the filing we did state that there were initially issues with supply due to specific regulatory events that occurred from March 2020 until May 2020. Our filing was just made last week. If the issues were continuing, we would have indicated that in the document.
Lord help us
How do you know? She likes to drop filings after hours on Fridays.
6 month lows are .06. Good call.
Yep, thanks for the reminder. All-in-all, there should be no logistical issues.
Wondering if we're getting an after hours Q
Unless of course the supply issues are a continuing problem
Praying i'm right. If I am, we're seeing multiple $$$
Something worth noting: I may be wrong here and i'm not guaranteeing this by any means, but food for thought. In her e-mail to me regarding Yale, Melissa said to me:
We continually review new products on the market (including those for Covid-19) and look for products that would be a compliment to the Rapid AB test we are selling. We are aware of the Saliva Direct PCR system and its recent EUA issuance over the weekend. It does seem to have advantages over the PCR nasal systems (not as uncomfortable as swabs and their testing platform (machine) is supposed to be more flexible than many of the PCRs currently on the market and it runs in half the time of most PCRs). This test should not be confused with AB testing; it is a diagnostic.