Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Net sales of 1-2M monthly are a definite possibility. I have to agree with you.
I June alone is 6-800K, the first month with things ramping up and not much of a sales staff, it could easily double.
If we had some subsequent events announced we could have extraplated more closely. This 10-Q was out of character.
I believe it was a 2019 loan provided by a member of the board that was repaid with shares in the Feb 2020 private placement I previously posted.
In 2019 board members went unpaid for expenses, Melissa deferred pay and "personal type" of loans were provided.
The vast majority of these were reimbursed in shares in February.
That is why there was a burst of recent filings taking advantage of the increased share value.
I do not see any of these shares being sold at these prices. They are held by individuals that were supporting the company for years and can wait till we get to multiple dollars to take advantage of the sacrifices they made. JMO
I have always been curious when some of these items can be dropped from the 10-K and 10-Q filings. I have been reading the same thing for 3 years x 4 times a year.
The financing info is also getting deeper to read.
Expanding product line into lab tests, broader with antigen/serology tests and easier to administer with Saliva tests.
This is a great post to show that ABMC will be relative through 2021.
The private placement was in February and it may have been with Chaim Davis and was part of the transaction Stuart Sternburg, the owner of the Tampa Bay Rays baseball team was a part of. We discussed it in May and you can find it in the 8-K's.
Shares cannot be sold without disclosing the transaction.
I put all the 8-K's, including February's in this previous post.
10-Q second quarter actually shows a decrease in OS that I will have to research further to clarify.
$ABMC Float reduced to 15,572,830 shares
Insider Shares owned increased by 5,780,084 from my previous post
Authorized Shares 50,000,000 as of May 12, 2020
Outstanding shares 39,953,476 recorded with the SEC as of July 24, 2020
Shares Owned Percent of Outsdanding
Chaim Davis ................3,309,047 9.18 %
Melissa A. Waterhouse...........1,250,000 3.36 %
Jean Neff.......................186,226 0.005 %
Peter Jerome....................120,610 0.003 %
Directors and Executive Officers
as a group (5 persons).........4,865,883 12.99 %
MP Biomedicals LLC..............4,738,601 13.18 %
John J. Moroney.................2,481,608 6.9 %
Stuart Sternberg................2,428,671 6.76 %
Totals held by Insiders........19,380,646 52 %
Unofficial shares held by
private investors...............5,000,000
Total shares held tightly.......24,380,646 61 %
Float...........................15,572,830 39 %
Insider Shares owned increased by 5,780,084 from my previous post
Outstanding shares increased 4,106,383 shares since the May 12 filing
Info from form 10 K/A filed July 24, 2020
Can you clarify the purpose of this post so I understand better?
Perhaps you missed that this has been in every 10-K and 10-Q since 2017 and was closed in 2019 with both parties just walking away.
Update: NET SALES of $800,000.00 for June and projected share price of $2.70 if we use a very conservative multiplier of only 10. $5.40 with a multiplier of 20 for conservative annual sales.
I wanted to clarify that these numbers are not revenues but NET SALES in June alone $800,000.00 and my following calculations are all NET SALES.
Correct me if my thinking is incorrect.
The second quarter 10-Q being filed today is only showing the first full month revenues for the Covid-19 test kit which was June.
First quarter 10-Q, pre Corona virus, was poor. New drug tests and clients had not added to sales yet.
Second quarter, April would have been similar to Q-1 and been poor. May is when orders and shipping began. June put it all together with sales, shipping and revenues.
So if June did the heavy lifting we could extrapolate that it carried $600-800,000.00 of the sales quoted in today's PR.
Quote:Net sales in the second quarter of 2020 were $1,758,000, compared to net sales of $958,000 in the second quarter of 2019; an increase of $800,000, or 83.5%. Net sales in the six months ended June 30, 2020 were $2,486,000, compared to $1,880,000 in the six months ended June 30, 2019; an increase of $606,000, or 32.2%.
Third quarter sales can be in the millions per month going forward. The company is now geared up for receiving, shipping and sales.
We should get incredible revenue numbers stated through September 15 when the 10-Q is filed later today.
$7-10,000,000.00 revenues for 2020 can be expected from the COVID-19 test sales alone.
If my projection of June sales of approximately $800,000.00 is correct while the company was gearing up, I could see minimum monthly sales of $1 mill plus for the rest of the year.
As noted in previous filings, these COVID-19 sales are very profitable.
June alone $800,000.00.
Correct me if my thinking is incorrect.
The second quarter 10-Q being filed today is only showing the first full month revenues for the Covid-19 test kit which was June.
First quarter 10-Q, pre Corona virus, was poor. New drug tests and clients had not added to sales yet.
Second quarter, April would have been similar to Q-1 and been poor. May is when orders and shipping began. June put it all together with sales, shipping and revenues.
So if June did the heavy lifting we could extrapolate that it carried $600-800,000.00 of the sales quoted in today's PR.
Important! The second quarter 10-Q today is only showing the first full month revenues for the Covid-19 test kit which was June and those are great numbers.
We should get incredible revenue numbers stated through September 15 when the 10-Q is filed later today.
These strong fundamentals are the catalyst to move us upward.
$ABMC is a turn around company with a bright future, fully reporting which is unheard of in the OTC Marketplace, and profitable.
Will we see:
Subsequent events
PR's
Forward Guidance
I am only filling on the ask at .24 nothing between b/a for the morning.
Stock Price Forecast $2.00
The 1 analysts offering 12-month price forecasts for American Bio Medica Corp have a median target of 2.00, with a high estimate of 2.00 and a low estimate of 2.00. The median estimate represents a +852.61% increase from the last price of 0.21.
https://money.cnn.com/quote/forecast/forecast.html?symb=ABMC
Always find these interesting
I slapped the ask and it moved up, so your answer is both.
No sellers below the ask.
79% or 27 of the 34 COVID-19 test companies in my index are green.
This is a good market to release earnings.
You have already read the filed 10-K, 10-K/A and 10-Q so you know that current revenues cover the share price near these levels. And without a multiplier.
You may want to consider your reputation before you post.
It will be a great thing when word spreads among investors that ABMC is the rare solid OTC company.
ABMC "will be an outstanding investment for all of us". I am in total agreement that this is a very viable scenario.
For anyone reading at this time, and buying at these price levels, at a minimum we will have a profitable investment.
I understand that you were covering all the bases, but I want to interject that I do not see a chance, that after buying at these prices, that anyone will be eligible for a tax write-off next year.
Note that current revenues, already quoted in the previous 10-Q are already near this price per share without any multipliers.
Can you clarify this portion of your post.
The NASDAQ has just given up 24 previous days of gains over a 36 day period of time, not unlike ABMC. (The NASDAQ chart is just more subtle about it and it took longer). Reality of what COVID is has just really begun to sink in to the retail investor.
I bring it up because ABMC can return our paper losses much more easily.
ABMC sentiment is up while the overall market is down.
ABMC earnings will increase Quarter over Quarter and 2020 revenues will be record breaking.
I am fairly confident the filings will post when they are ready.
We know they are late, probably out of managements direct control at this time. It is not even worth the energy to speculate.
I still hold my entire position. And since I am not adding to it until I see consumer confidence return, I am just continuing on with life.
How else will I be able to pay for my Ramen noodles? Especially now that we are sharing them.
This has been testing us all. I have actually gained a better perspective on what is more important to me and where my energies are better placed.
Failed and current serology tests and their results are what I dug into to find that the $ABMC Healgen COVID-19 test was the top three back in May and it remains one of the best in class today.
Importantly, the Healgen test was and still is one of the few tests done by the National Cancer Institute to prove how valid serology / antibody tests were and still are.
The bad name for antibody tests was given by several companies that had poorly constructed tests or were outright scams.
Great link Bobinsd
We are at March April resistance levels.
I agree with you that we should move through these levels more easily this time around and never see them again.
Quest Diagnostics Updates Outlook For Full Year 2020
COVID-19 testing is expected to rise through 2020
Importantly, their core business, basic lab services, are recovering faster than expected rate. ABMC drug testing is also expected to increase with new products and clients.
- Revenues for full year 2020 now expected to be $8.4-8.8 billion compared to the previous outlook of $8.0-8.6 billion
- Reported diluted earnings per share (EPS) for full year 2020 now expected to be $7.42-$8.92 compared to the previous outlook of $5.66-$7.66
- Adjusted diluted EPS for full year 2020 now expected to be $7.50-$9.00 compared to the previous outlook of $6.60-$8.60
- Cash provided by operations for full year 2020 now expected to be at least $ 1.45 billion compared to the previous outlook of at least $1.25 billion
PR Newswire
SECAUCUS, N.J. , Sept. 10, 2020 /PRNewswire/ -- Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic information services, today updated its financial outlook for full year 2020.
Since the company reported its financial performance for the second quarter of 2020 on July 23, 2020 , organic testing volumes in its base business (excluding COVID-19 molecular and antibody testing and the impact of acquisitions), continued to recover faster than anticipated through the end of August. Organic base testing volumes declined high single digits in July and mid-to-high single digits in August on a percentage basis versus the prior year. COVID-19 molecular and antibody testing volumes remain consistent with the company's previous outlook.
It is interesting how many facets of the media cling to each other as they trip over a curb. In this case the curb being the Corona virus.
Many studies have proven that several short term COVID-19 tests like the ABMC antibody tests, are proven to be more efficient and less costly to the individual, business and society than waiting for the delayed results of a PCR test.
Of the 34 companies in my test kit index, only two, possiibly a third interest me.
ABMC is still the number one investment as far as potential percentage gain based on true fundamentals.
This Q will allow us to extrapolate what we may expect for 2020.
Several of the companies in my index are large caps so by their nature will move slowly.
The other small caps still do not have a strong foothold in the test market.
Most of the OTC test companies lean toward pump and dump.
We are in the right place. Will the facts be seen by new investors?
60% of my COVID-19 test kit company index of 34 companies is positive today, including $ABMC.
20% of these negative traders today are down just 2%.
When the NASDAQ was done yesterday Sept 9 my C-19 index was already turning green.
I've been eating it crunchy. But the asphalt in front of my tent got to 130deg yesterday. I can put it on early so it is hot enough when you take the bus over. Or do you have your own bicycle?
I'll split a bag of Ramen with you. I can get the water from the neighbors garden hose.
Nine drugmakers said Tuesday their chief executives signed a pledge promising not to file for regulatory approval or authorization of their experimental Covid-19 vaccines until the shots have been shown to work safely through late-stage clinical testing.
The Wall Street Journal previously reported on the companies' pledge on Friday.
The pledge was signed by the heads of AstraZeneca PLC , GlaxoSmithKline PLC , Johnson & Johnson, Merck & Co. , Moderna Inc. , Novavax Inc. , Sanofi SA , BioNTech SE and Pfizer Inc.
In it, the companies say "the safety and well-being of vaccinated individuals" would always be their priority. They promise to keep following scientific and ethical standards in clinical trials testing the Covid-19 shots, and in manufacturing. They also pledge to ensure supply across the world.
"We believe this pledge will help ensure public confidence in the rigorous scientific and regulatory process by which Covid-19 vaccines are evaluated and may ultimately be approved," the pledge states.
Many Americans are skeptical about taking a Covid-19 vaccine, or opposed to taking one, as a result of concerns that vaccine development, or potential authorizations, are being rushed.
The FDA has said it won't green-light a Covid-19 vaccine unless it is proven to be 50% effective compared with a placebo.
SIX companies recently submitted FDA EUA applications for new COVID-19 rapid and PCR tests. One of which is Abbot Lab's and is being promoted by the government and press. But that test is not even on the market.
None of them promote their product in PR's as being as viable a test as that from $ABMC.
Let's see which gets approved and take a look at results.
It is interesting how the world's perception of rapid tests, a new paradigm, exists since just last week.
None of these companies have the fundamental ability for prcentage price gains as ABMC does.
Several of these are well known and sound companies. Several should be held down with a stick.
ABT
CODX
GWHP
LH
CEMI
TRIB
The Wall Street Journal awakens to reality.
This is great news for $ABMC when investors find out we are here jumping up and down and flailing our arms.
$ABMC is a profitable, low float company with a top five sensitivity COVID-19 rapid test kit.
Public Health Officials Pursue Covid-19 Tests That Trade Precision for Speed
Rapid tests for coronavirus might sacrifice some accuracy for quicker results but are needed to control the virus
Sept. 8, 2020 7:00 am ET
Public health experts are increasingly calling for a shift in thinking about Covid-19 testing: It is better to get fast, frequent results that are reasonably accurate than more precise results after dayslong delays.
Diagnostic companies are racing to develop quicker, cheaper Covid-19 diagnostic tests, and tests that can be done at doctors’ offices, nursing homes and other places with the assistance of a medical provider are gradually becoming more widespread.
The U.S. Food and Drug Administration has authorized four such tests that are antigen-based, meaning they search for viral proteins. Test makers have vowed to produce tens of millions of these quick-turnaround tests in coming months, including Abbott Laboratories which recently unveiled a test that costs $5 and is the size of a credit card.
This part is sad because the $ABMC test offers near 100% accuracy.
An FDA official noted sensitivity rates lower than PCR might be acceptable, depending on how the test results are used. The agency has allowed for antigen tests with a sensitivity rate of 80% or better, the official said. “You can even have lower than 80% sensitivity” if it is a recurring or serial test.
article continues
https://www.wsj.com/articles/public-health-officials-pursue-covid-19-tests-that-trade-precision-for-speed-11599562800
Governments are just too slow to work in real life difficult situations.
First they allow every scam C-19 test on the market by a blanket acceptance.
Then they did right by ridding us of those fleas
Now they are accepting the bigger name tests back that still under perform.
Thanks Iron heart. Hope I can bring some value to the AMBS team.
I am still doing due diligence, but from what I see, the chart today pulled back to what may be the new support level.
Tomorrow will be telling.
This is a great summary. I calculate you spent about 6 months working, accumulating data and translating that info into something we could understand.
I'll work out some numbers from actual filings. But for fund here is a re post of some probable sales:
$ABMC team. I need help to make a list of known sales announced publicly through news media, social media etc. Give me a hand with this and I'll keep it updated.
The Allgenericos sales seem incredulous, yet they were out there from a reputable company and have not been denied. But, I have no doubt that overall sales figures will be record breaking.
These are approximate sales figures just to get an idea of potential revenue.
ALLGENERICOS deleted twitter post on May 5th:
Assuming $5.68/test
1.2M Ecuador../ $6.82m
5.0M USA......./ $28.4m
2.0M Egypt...../ $11.36m
1.0M Germany./ $5.68m
1.5M Spain....../ $8.52m
100k Panama../ $568,000
and adding
Total = $61,348,000
100,000 / $568,000 (est) received State of Florida
https://www.wtsp.com/article/news/health/coronavirus/antibody-testing-in-florida-false-positives/67-7c1726c5-df95-4170-be61-17e15871e7ce
44,000 / $250,000 received Tampa and Hillsborough County
https://www.baynews9.com/fl/tampa/news/2020/04/27/rapid-testing-kits-coming-soon-for-hillsborough-first-responders
1,000 / $5,680.00 received Columbia County
https://www.hudsonvalley360.com/news/columbiacounty/county-satisfied-with-antibody-tests/article_00f4dff5-35c4-5214-bb59-462a2d8a6db3.html
10-Q 2000-07-31
198,239(est) shipped to Misc Clients / $1,126,000 shipped test kits (estimated price $5.68 ea price quoted from filings and news sources)
Note: A portion of these shipped figures could overlap sales orders from above.
Volume +271% above average came in near the end of the day.
Good catch penny.
All the major indexes were slammed yesterday and today but $AMBS and $TOMDF had respectable gains.
Not only that, but consider this is a Friday before a three day holiday with indexes tanking. Quite extraordinary.
Lot's of interest here so I can see your predictions "I am here for .15 .20 cents " coming true.
Have a great weekend all.
Volume closed 188% above average.
Good chart news. We had the highest volume in 15 days and ended up from from a nasty dump.
232,285 bought shares counteracted the sell off of 126,104 shares. (approx.)
I am still optimistic.
As you know, I do have a problem with management, board of directors, etc. on how things have "not" been handled.
However, I have pulled back from personal attacks. True or not, it is morally irresponsible for us to speak this way.
I won't do it in my daily living nor anonymously on these boards.
I do not attack other posters or members of management personally.
Please consider your speech, free as it may be, to be more respectful of not just others being vilified, but also that I am uncomfortable having to read it.
Thanks team.
Rain
If it weren't to much work (for this ticker), I would overlay that sentiment graph directly over the $ABMC chart and see what a perfect match it is.
Just look at that. The uptrend is due.
Well, I'll be nicer Tuesday.
I found another intriguing COVID-19 play that has picked my interest. Going to go do more DD.
I know how to alleviate some of our pain.
Look at the poor choice others have made.
How do you think the buyers of that P&D scam COVID-19 test company ALST feel today. They were comparing ALST to the next ABMC. Ran .22 to .80 in a couple days. Then crashed and burnt.
They are at historic lows, and they have no straws to grasp at.
Ooops, you know what. They are still almost at our price level .16.
(I sit with a stunned look on my face, agawk)
@geocam. your best .gif ever.
I know you were saving it for today! You just had to be.