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Regulatory issues between the US and China were the major "supply issue" to overcome.
Healgen has been manufacturing and shipping on schedule since June.
Let's be clear that the difficulties receiving adequate numbers of test kits was a worldwide issue (past tense: WAS) that resolved itself in May and June.
Product availability was an issue for all distributors, manufactures, material suppliers and customers due to historical demand for test kits caused by the Corona Virus pandemic, along with governmental regulations that had to be worked out.
Governmental regulations were resolved
Manufacturing ramped up
Quality of the Healgen test kits was validated
One of the biggest adjustments I have seen in how companies modify accounting is on how they handle receivables.
If they were stating income when an order comes in, or a check arrives vs when it was shipped and received, huge variables can occur at end of year.
For example, if orders came in November-December they could be marked as income. Now if the accounting change posted income when product was shipped and received, that could move that revenue into January-February of the following year.
Therefore gross income would change.
I am not a CPA, but have large and small business experience.
Those sales numbers seem improbable because they are just so large, but they are not fiction. They came from a reputable source on this team.
We do not know if the orders were preliminary or what quantities were to be shipped and at what time intervals etc.
We are confident that sales will be large enough to make $ABMC a very profitable company.
Those sales numbers seem improbable because they are just so large, but they are not fiction. They came from a reputable source on this team.
We do not know if the orders were preliminary or what quantities were to be shipped and at what time intervals etc.
We are confident that sales will be large enough to make $ABMC a very profitable company.
Let's be clear that the difficulties receiving adequate numbers of test kits was a worldwide issue (past tense: WAS) that resolved itself in May and June.
Product availability was an issue for all distributors, manufactures, material suppliers and customers due to historical demand for test kits caused by the Corona Virus pandemic, along with governmental regulations that had to be worked out.
Governmental regulations were resolved
Manufacturing ramped up
Quality of the Healgen test kits was validated
The Allgenericos sales did show the US.
This is from one of my previous posts: 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.
My scanner pulled GOIG up and the chart looked interesting, but the last 10-Q makes me apprehensive.
Total shares authorized:6,800,000,000 as of date: March 31,2020
Total shares outstanding: 6,370,639,025 as of date: March 31,2020
Number of shares in the Public Float: 3,293,040,786 as of date: March 31,2020
A 500:1 Reverse Stock Split is anticipated, however, such action is subject to board and shareholder approval. As of the date of this Disclosure Statement, no action has yet been taken to approve this and no date has been set as to when it will take place.
I'll stay on the sidelines awhile just watching.
Good luck
Another company I am in is also revising several previous years due to changes in how they are handling their current accounting. It is required so that shareholders have an apples to apples comparison when looking back on financials. I believe it is an SEC requirement, but not certain.
Things like how receivables or inventory, etc, are handled, can cause very large changes in accounts payable for example.
Gooooooooooooooooo Team!!
My impression with the company posting their first profits in a quarter in a really long time that product is flying off the shelves.
It would be nice to get some updates though. Next full quarter earnings will be filed in just a few weeks, mid September.
I am not very smart either, but I over compensate by pretending.
It is not fair to every one around me for pretending. I apologize, they are just my opinions.
"One11
It's not contradictory at all. I never said I was smart and I never said I was serious about my money. Obviously I'm also a bad listener which goes back to not being smart.
Which kind of proves the point that the people left here are the ones you are wanting to come along and buy..
Smart traders have already left the building.
But hopefully for the sake of my dumbass they return soon after we get some news."
My process for every investment:
I run my scanner looking for certain technicals: Found ABMC.
Quick look at recent news to sum up the company: Corona virus becoming a larger problem worldwide.
Review IHub and social media to see what "thoughts" are: Found no spamming on ABMC board and a solid group interested in DD.
Also, found a few negative posts on the company, but realized this is an opportunity to turn it all around.(I was in PURE at the time with a similar story, fantastic disinfectant product, and we walked up from $.15 to $2.05 and holding at $1.40)
Reviewed some financials: Realized that past history and sales will be stomped on with the unique opportunities arising from the world situation and were no longer a valid indicator in these times.
Started buying in from .16 on the DD from this board and my own. Then I got engaged to the stock. I was tempted to take profits as I have done for the past 15 years, but noooo, "this one is different". I got dumped and now left in a state of bewilderment.
I still believe that realistically I made a good choice.
Fundamentally, we don't have to run for the hills. Earnings will validate share price and we will move upward again. How quickly and how far I don't know. But, it will be satisfying in the end.
Good luck to everyone that has endured.
Neither is the reason to be in the IHUB ABMC support group in the first place.
However, I am quite clear in the point you are making and you are correct.
"It could only feel good if you are not losing money!
Losing money is NEVER a good feeling."
I won't go on with how many "things" I dug to support what posters were feeling neglected about. But, as you say, what overall good would it be to post them. The point was already being made and I moved on a while ago.
Thanks for the correction Annerco.
I did read some weeks ago that Mexico and Argentina governments were discussing some other test. I do not remember that a name was mentioned.
I also spent hours digging into what was happening in Brazil since they are second only behind the US in deaths. But nada.
We may get some information from those regions as more companies disclose their results of sales.
It wasn't sensible, but it sure must have felt good for everyone with the same opinion to share. Kinda like a support group meeting. Just let it all out.
Now we can get back on track, AND know what we are dealing with.
I agree the ask size is to hold us down, and it does look like we are finally getting some MM support the past few days.
MM support can be seen when the sellers shares were being absorbed back on the 14th on increasing volume. Then we had the sudden drop in volume on the 15th. So pressure to sell was relieved but, pressure to buy was also being stifled.
If a buyer was that interested in getting shares, he would also be tapping the ask before the Q comes out.
ABMC chart continues to show support, albeit weak support.
As previously stated, day traders and weak hands have walked away so shares are being held by those anticipating a major earning announcement in the next 10-Q.
MM's have also shown support, holding strong the past week.
The yield sign is showing but not the stop sign, which is interesting in that the filing is late, beyond the extension period.
I mention in the chart that price action is looking like what we had in May. IMO we will need much more interest to gain a strong uptrend this second time around. Due to previous lack of price support, expect quick scalping by traders and swing traders taking profits at the earliest sign of any topping action.
It is also a big question on how many "true longs" remain. Strong catalysts will be necessary at strategic price levels to bring in new blood and promote interest in the company to move back towards previous highs and beyond.
Yes, I am sure that testing continues in South America, demand for testing is strong and that ABMC is a major distributor there.
I am looking forward to the Q.
I am curious to know if sales results will be good or very good.
I am reading that there is still increasing demand for Covid-19 testing around the world as control of infection spread is seen as being vital in Ecuador, Mexico, Peru and other Latin American countries.
$ABMC continues to distribute the highly accurate and competitively priced Healgen test in these countries.
Drug testing revenues is certain to increase for $ABMC.
Melissa mentioned in several of the recent filings that the newer drug tests being distributed by the company will help increase revenues on the year.
The number of working Americans testing positive for drugs climbed last year, particularly for marijuana, according to a new report, indicating employee drug use was on the rise just as the corona virus pandemic created new stresses.
Overall, the percentage of U.S. workers who tested positive for drugs in urine in 2019 rose to 4.5%, the highest level in 16 years, according to Quest Diagnostics Inc. , one of the largest drug-testing laboratories in the U.S., which analyzed approximately nine million tests last year on behalf of employers.
That percentage was 29% higher than the 30-year low of 3.5% a decade ago, in the early days of a resurgent heroin epidemic in the U.S. In more recent years, more positive tests for methamphetamine and cocaine have helped to fuel the increase in the share of employees testing positive for drugs.
Both. You question brings up an interesting point that the team mentioned months ago. If I’m reading this correctly, you’re saying ABMC is undervalued or CODX is overvalued (or both)?
CODX profits came because they furloughed most of their employees from around the world as soon as COVID hit, yet ABMC is hiring.
Fortunately for them, CODX had the test transport medium (holds the collected virus) that was the majority of sales and kept them alive for the quarter..
This is a similar position ABMC was in. The Healgen COVID-19 test more than made up for the loss in drug testing revenues.
I did not do the math, but with similar share structure, ABMC may end the year with a higher percentage revenue gain than CODX. Being lower overhead, ABMC is more profitable on a share basis than CODX which has higher sales but also higher overhead.
I updated the message. Thanks for pointing out that what is in my head does not always translate to paper.
CODX interesting earning reaction = no reaction.
$ABMC should have a much better reaction when the Q comes out in the next few days.
Q2 2020 revenue increased 1,503% over Q1 2020 to over $24 million, and earnings surged from a loss in the previous quarter to over $12 million. (Taken from PR)
Yet, on the day $ABMC share price is higher on a percent basis than CODX. CODX is off 42% from their highs only 12 days ago. Finally, CODX volume is only at 55% of average.
The way healthcare stocks have been ignored the past week, but the market continues to run up to hysterical numbers, you would think that COVID-19 must be cured, the economy is bursting at the seams and the world is back to normal.
This is great geocam. Those two charts overlay each other just about perfectly.
We could stick a frustration in there in the case of $ABMC though.
We are between depression and hope, on the way back up.
NASDAQ record highs today $11379.72
All sectors but one had strong gains. Healthcare was the only laggard.
So what this means is that Healthcare profits were taken and got diversified into other sectors today. This can easily flip back into healthcare by end of week.
I did not know that original Allgenericos tweet came from your question. That is great DD.
Your screen shot is used for the basis of so many longs holding out for more than just good sales figures, but possibly record breaking sales.
It is also where I based so many of my posts on possible (and I am holding out for probable) share based revenues to come.
This is affirmation that team effort and due diligence is vital.
Thanks again @bk1287
rain
Let's clarify. The tweet about the sales numbers from Allgenericos Healgen test kit purchased through $ABMC was deleted, but their twitter account is fine.
Yes we do. But not sure if that link is correct.
Today's $ABMC chart held steady as predicted.
There was some selling near the end of day. This has been consistent on Fridays for those that do not like to hold anything over the weekend. In addition, the 10-Q is officially late today, as expected, with the company stating that it will be delayed.
With stop sign to appear again, it is anyone's guess what to expect in the coming day's.
If the MM continue support, share price will continue to range until a catalyst provides volume for momentum and an upward move.
This second quarter filing will report June sales figures which is the first full month of shipping the Healgen Covid-19 test
JMO, the Q may become current next week.
I mentioned previously that I have an old quote from Melissa where she is VERY UPSET with the MEDIA for making negative assumptions about the company without consulting with her first.
And here she is doing it to us. The lack of guidance is exactly why certain LONG investors become creative in their comments.
I think most can agree that I am not generally negative in my comments, but I have her quote stuck in my head and I can't get it out. It's like a little cerebral grain of sand just grinding in there.
Anyway. It is not fatal and nothing that time and upward share price can't fix.
SpaceX, a private company just did a huge private offering.
I bring this up because I was reading about company valuations.
Since SpaceX is not trading publicly and valuation can not be based by share prices, the companies asking price is just a theoretical valuation. Something the company and investors negotiate. Who is correct, the company who would not have turned down an offer twice as high or the buyer who would have been more than happy to pay half price? SpaceX is a huge money loser on top of that.
Again, not apples to apples, but for team members to say that since my first buy at .16 is up 100% I should be satisfied is just weak.
I never heard that perspective. That is brilliant.
So you want us to reference Elon again!!
Tesla shares tumble as Musk says company's stock is overvalued. The share price of the US electric-car maker nosedived by around 10% at the end of the trading day after Tesla's CEO tweeted that the company's price was "too high." .May 2, 2020
ABMC may as well be saying the same thing by complete lack of support and giving back the opportunity to stay in the $.70's at a minimum..
And today, TSLA, closed at $2049.98 per share. Oh, they should go back to $200.00.
Not an apples to apples comparison of course. But, no CEO is going to give back a share increase unless they work for $ABMC.
$ABMC has broken out of it's downward channel into consolidation.
Volume increase into the last days of selling shows final capitulation, clearing out the last of the most impatient sellers.
MM are supporting the bid, waiting for a catalyst to force a move either upward or downward, confirming a bottom.
The late filing could be one confirmation. Let's see what happens Monday.
Increasing volume will be necessary to move share price back up towards previous highs on this go around.
Consolidation at these price levels is the minimum we can ask for.
We are just barely out of the downward channel with today's horizontal move.
Average Volume is increasing but not here yet.
Exactly, and on top of that- Any experienced investor or trader knows that every succeeding attempt to raise share price to previous highs becomes more difficult.
Be it lack of confidence, larger shareholders selling off portions of their holdings, or just frustration, larger catalysts are needed to build and support momentum.
I will take the prerogative to speak for the board that it is not just the valuation of share vs earnings debate with current fundamentals to be considered by management, but the share price momentum that was destroyed that was set up for the fundamentals to catch up and support the higher share price.
I am building an index for COVID-19 test companies, just for kicks.
I noticed the majority of the companies on my watchlist took a hit last week and I would like to compare ABMC vs them.
I believe $ABMC to be the best investment/(trade for many) available for the longer term and safest return (not a P&D)
I am considering the following categories:
-Test companies OTC -ABMC, etc
-Test companies Large Cap.
If interested I could also categorize:
-Vaccines
-Treatments such as products that minimize lung inflammation etc. CAPR is an example
I can also do misc others such as sticking a UV light into your lungs etc.
If you are interested just post or DM me with the ticker and a sentence on what they offer. If you have further thoughts you would like to provide that will be great.
I'll periodically post an index percent gain/loss.
Thoughts?
Thanks, I am a bit surprised that in hundreds of articles nationally few product names slip out.
It seems that when I do see a test name mentioned, it is just the smaller papers that want to endorse businesses in their local areas.
Kinda interesting.
I noticed that more positive tone also bk.
Thanks to you and the team members for your efforts to email the company and posting replies.
Has anyone emailed the reporters at these news outlets in Hudson Valley and FL for any info they did not print?
Good reminder for newbies about those articles One11. They are very important since they are the only source of information RELEASED IN TWO MONTHS and by an outside news source at that.
The reply following yours by Wheeljack got my meaning.
Since the company remains in silence, I was venting as much as anything.
I mean this in a positive way, but I am surprised though, by my previous DD, you would think me so simple minded. (I actually used two browsers and my mobile device to eliminate browsers preferential results for those 5 hours of search.) I even dug into technical manuals, old government contracts and newspaper archives.
Side note: Charts have positively diverging indicators and volume is increasing.