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ACLA Serologic Testing White Paper. This is a good read.
American Clinical Laboratory Association (ACLA)
Supporting a Comprehensive, Nationwide Response to COVID-19: The Role of Serologic Testing
Released April 16, 2020
Updated May 4, 2020
This paper outlines a number of key considerations related to the use of serology in clinical management
and preventive measures in response to the COVID-19 pandemic. As many leading public health experts
have noted, serologic testing cannot stand on its own as the primary health intervention in response to
COVID-19, but it is a valuable tool in a comprehensive response to this global pandemic.
https://www.acla.com/acla-serologic-testing-white-paper/
$ABMC asked Allgenericos to remove the twitter post for competitive reasons. This is the reason I read.
And we do not have a way to confirm or deny the Allgenericos sales at this point either. ABMC does not speculate on rumors
Where dreams are made from!
Ready to watch the next Covid-19 test gapper of the day?
Closed $2.21 > premarket $2.91
Twitter Post from OPGN
·
14m
Serologic #COVID-19 testing allows health workers to better understand community infection rates, and better inform public health strategies, according to the American Clinical Laboratory Association: https://acla.com/acla-serologic-testing-white-paper/
#covid19usa
This happens to be the Healgen test kit from a newly authorized Healgen US distributor I read about yesterday.
If a buyout were to be announced, it is generally an offer to purchase all shares in the company for a set price.
Very basic concepts:
Let's say a company is trading at $1.00 and an offer for $5.00 a share is accepted by the BOD and shareholders.
If the company is taken private, the ticker will stop trading and you will receive $5.00/share for everything you own. The public entity goes away.
If it remains public, generally you will see buyers move the public shares towards the selling price because that is what it is valued at the time and life goes on as it was.
If the company is absorbed into another entity is when you may get shares of the buying company in exchange for the shares you hold, which is what you are thinking about. This is when you will see the ticker change to the buying company.
There is no set formula in any of these examples.
Thanks AdamS007 and sportynorty for keeping up on these new developments.
Miami, Tampa Baseball, First Responders in Hillsborough county and the the Florida public really need to get this internal mess straightened up.
Old thinking was PCR PCR PCR and now the medical professionals are saying frequent antibody tests are the way to go.
Finally the medical professional are listening to me (Tongue in Cheek) from the twitter posts I have been making on the subject!
Ready to hit one over the fence.
City goes to court to get LA Apparel records after 300 test positive and 4 die of COVID-19
One $BRAV face mask competitor down.
The South Los Angeles company, which pivoted to producing face masks amid the pandemic, did not immediately reply to a request for comment.
I really feel for the workers put out of a job, but this guy was inhumane. He actually reopened with new workers! I also heard on the local radio that Charney spent an enormous amount at Las Veges and on High Risk Speculative Stocks.
On June 27, county health officials ordered operations shut down at Los Angeles Apparel after inspectors reported “flagrant violations” of mandatory public health infection control orders.
The petition further states that according to those same health officials, the company violated the agency’s order by reopening with what were apparently new employees, causing the department on July 9 to again order the firm to cease operations until critical public health measures were implemented.
Company founder Dov Charney has denied that the company did not protect its workers and inform them of positive cases and has asserted there’s no problem in his factory.
“There was no outbreak here,” he told Business Insider, contending that a 15% infection rate among his staff was commensurate with the rate in South Los Angeles as a whole.
“I’m not alleging conspiracy,” he told the publication in late July. “I’m alleging that certain people at the (health) department are misleading the public because they’re looking for a political win.”
https://www.dailynews.com/2020/08/06/city-goes-to-court-to-get-la-apparel-records-after-300-test-positive-and-4-die/
I literally have evidence that she has had company meetings stating this exactly. Employees were scared of her public comments and were ready to leave the company.
It was some time ago and is just beating a dead horse to post it. More evidence she will not change.
I wonder how her sales meetings go . “Hey Guys congrats on hitting record numbers last quarter, but you know that at anytime we could all die , so don’t get to excited and make sure you takes some commission and go pick out your tombstone !
The third testing company to gain 100% in the past 5 days. I am comfortable that $ABMC has better revenues, but that does not help us at this poinnt.
ADIL will fall back eventually, but still....
Adial Pharmaceuticals, Inc. (NASDAQ:ADIL, ADILW))))) ("Adial"), a clinical-stage biopharmaceutical company focused on the development of treatments for addiction, today announced that it has entered into an agreement with Brik LLC ("Brik"), an independent sales and marketing firm, to act as a third-party agent to Adial for the sale and distribution of Rapid Result COVID-19 antibody test kits. As reported on June 8, 2020, Adial and BioLab Sciences, Inc. entered into a distribution agreement, whereby Adial has the exclusive rights to sell and distribute the Rapid Result COVID-19 antibody tests to designated channel partners and customers.
Don't have your energy though Adam.
Bisintegra is on Annerco's list, but let us know if you remember anything about Brazil.
Ton of work Annerco. Good Info,
I read somewhere that Brazil is possible, but I can't remember where, so I'll leave that as just potentially.
Thanks EQT. I appreciate it.
It takes tons of hours through all this boring accounting. It takes more time here than in my own business.
Downtrend is reversing and indicators are moving up. Volume is green.
Looks like a move upwards from this wedge pattern any day.
$ABMC distributes the tests to several companies in Latin America including Allgenericos and Bisintegra.
I have not seen any other distributors mentioned when I scan Latin news reports.
I never received an answer to my question that if ABMC has a client in anothers territory can they continue to sell the COVID-19 test kit to them. $ABMC sells their drug test kits internationally which would get their foot in the door where others would have difficulty.
I am not familiar with any actual list of Healgen Distribution territories, and America Bio Medica has not released that info.
This is the first I caught this on FB
American Bio Medica Corp - ABMC
NOW AVAILABLE FOR SALE GLOBALLY!
COVID-19 Rapid Test
COVID-19 IgG/IgM Rapid Test Cassette (Whole Blood/Serum/Plasma) is a solid phase immunochromatographic assay for the rapid, qualitative and differential detection of IgG and IgM antibodies to 2019 Novel Coronavirus in human whole blood, serum or plasma.
25 tests per box… See More
So our four largest bars on the one minute chart were red today, yet a hard move up.
We still need those larger green bars. Buyers know record revenues are here so they are coming.
Great divergence to what we have been accustomed so tomorrow will be interesting.
I'll match your chart call geocam and raise you that we are 117% of 30 day aver volume on increasing revenues.
I see some twitter posts brewing. Look forward to what you have.
Let's see if tomorrow has follow through.
SPORTYNORTY, Level 2 looking great.
Adam, you have been saving this one for weeks. I can just picture you itching to post it.
Go ORCA's
I want to say the comments this afternoon sound just like the good old days. But, then I realize that was just three weeks ago.
Everyone sounds overjoyed and I want to say congratulations.
It's just one day of reversal. How strange a feeling it is when we feel we have come out of great struggle together.
$ABMC has the distribution region for Healgen/Orient Gene COVID-19 test kit with the greatest COVID-19 problems and is the official distributor for the eastern seaboard and South America, $AYTU handles Midwest and Rocky Mountains and Confirm Biosciences a private company handles the west coast, Hawaii and Alaska.
There are a few problems with this particular AYTU PR that will not work in the favor of what several posters are trying to accomplish with Melissa, but it sure works on shareholders. (However there are many other examples that are better). But this example is good for why to be cautious.
-These are not the Healgen Tests. AYTU was double dipping.
-The date: Friday, April 3, 2020 8:00 AM. is too early. Healgen FDA EUA was later at May 29
-Then the test in the article is only CE Rated:
This point-of-care test has been validated in a 126 patient clinical trial in China and is CE marked.
-I did this post: June 9
$ABMC COVID-19 Rapid Test outperforms the $AYTU partner- $CERC, Chembio Diagnostic Systems DPP Covid-19 IgM/IgG System test.
FDA Revokes Emergency Use Authorization for Chembio Antibody Test
https://www.prnewswire.com/news-releases/coronavirus-covid-19-update-fda-revokes-emergency-use-authorization-for-chembio-antibody-test-301078324.html
-Currently AYTU is working with a partner to develop an in house test.
The PR about AYTU "in house test" was great because now we know their plans.
And, CERC is actually moving higher on increasing volume at $2.74 So what did we learn? WE NEED PR'S ;-P
It is very clear in the filings that it affected revenues because they could not ship until end of May. Then she states they were only available to take orders.so no shipping/revenues in April-May.
Are we beating a dead horse? (not meant to be disrespectful)
Great followup Btown.
I am curious what the State of Florida has to say from their internal tsting. Let us know when you get a reply.
Vaccine companies are giving recipients of COVID-19 vaccine studies acetaminophen to reduce side effects and make studies look more promising. This is puffery
"The Oxford group is also giving acetaminophen to participants in an advanced, phase III trial now underway in Brazil too. In another major study of the vaccine, involving 10,000 people in the UK, you can’t participate if you have an allergy or condition that could be made worse with acetaminophen. No mention of the extra drug, though, in the same group’s trial in South Africa."
https://www.wired.com/story/covid-19-vaccines-with-minor-side-effects-could-still-be-pretty-bad/
When I was doing my DD for $ABMC back in March I came across a video news report with a local organization that helped companies in their county improve their equipment. They were helping American Bio Medica
The company was ramping up for COVID-19 test manufacturing at the time and had to get a second machine on line.
I am looking for that video. Anyone have that for me? It's been bugging me for weeks.
Would certainly change my life micromillionaire.
State of Florida is using the $ABMC Healgen test.
Florida may be changing to the Healgen test because of false positives in the Cellex Serology test results.
Healgen performance is much more accurate for lgM and lgG
Healgen COVID-19 IgG/IgM Rapid Test Cassette
Developer: Healgen
Test: COVID-19 IgG/IgM Rapid Test Cassette
Technology: Lateral Flow
Target: Spike
Antibody Performance Measure Estimate of Performance 95% Confidence Interval
IgM Sensitivity 100% (30/30) (88.7%; 100%)
IgM Specificity 100% (80/80) (95.4%; 100%)
IgG Sensitivity 96.7% (29/30) (83.3%; 99.4%)
IgG Specificity 97.5% (78/80) (91.3%; 99.3%)
Combined Sensitivity 100% (30/30) (88.7%; 100%)
Combined Specificity 97.5% (78/80) (91.3%; 99.3%)
Combined PPV at prevalence = 5% 67.8% (35.0%; 88.4%)
Combined NPV at prevalence = 5% 100% (99.4%; 100%)
Cellex qSARS-CoV-2 IgG/IgM Rapid Test
Developer: Cellex, Inc.
Test: qSARS-CoV-2 IgG/IgM Rapid Test
Technology: Lateral Flow
Target: Spike and Nucleocapsid
Antibody Performance Measure Estimate of Performance 95% Confidence Interval
Combined Sensitivity (PPA) 93.8% (120/128) (88.2%; 96.8%)
Combined Specificity (NPA) 96.0% (240/250) (92.8%; 97.8%)
Combined PPV at prevalence = 5% 55.2% (39.2%; 69.8%)
Combined NPV at prevalence = 5% 99.7% (99.3%; 99.8%)
https://www.fda.gov/medical-devices/coronavirus-disease-2019-covid-19-emergency-use-authorizations-medical-devices/eua-authorized-serology-test-performance
$568,000 for 100,000 tests for the State of Florida (approx).
Nice Btown
Do they insinuate that they will be switching over to Healgen completely? "When the state purchased the Cellex tests, they were the only rapid antibody tests on the market that had received formal Emergency Use Authorization from the FDA.
https://www.wtsp.com/article/news/health/coronavirus/antibody-testing-in-florida-false-positives/67-7c1726c5-df95-4170-be61-17e15871e7ce
The city of Tampa and it's county also using Healgen.
Tampa and Hillsborough test to First Responders $250,000 for 44,000 rapid COVID-19 testing kits = $5.68 ea
https://www.baynews9.com/fl/tampa/news/2020/04/27/rapid-testing-kits-coming-soon-for-hillsborough-first-responders
That is another $1.25 mill boost in annual revenue for $ABMC not in the last 10-Q.
I just get a Need Java screen. I DL Java and still only get the need Java screen. So I thought I had to upgrade.
Anyone have a solution on how to get around this Java Screen? Perhaps my Java DL is not working. I rarely have issues when DL programs.
10-Q Comments in the order I pulled them from the filing.
There are numerous positive statements here.
Late in the First Quarter of 2020, we began marketing a Rapid Test to detect Covid-19 antibodies in whole blood, serum or plasma. The test, manufactured by Healgen Scientific, LLC is being marketed in full compliance with the March 16, 2020 Emergency Use Authorization (“EUA”) policy set forth by the FDA and in accordance with an EUA issued by FDA on May 29, 2020. Due to specific regulatory events that occurred from March 2020 until May 2020, we did not record any sales of Covid-19 tests, although we did take pre-orders (with payments) for Covid-19 tests.
In addition to the Covid-19 rapid antibody tests, we have brought on new products and service offerings to diversify our revenue stream through third party relationships; one of which is a lower-cost alternative for onsite drug testing and, point of care products for certain infectious diseases. With the exception of the lower-cost drug test alternative, (and Covid-19 rapid antibody tests sold subsequent to the First Quarter 2020), these new offering have yet to materially positively impact sales.
We are hopeful that gaining access to this market again will enable us to see revenue growth for our oral fluid drug tests in the future; however, we are uncertain when in the year ended December 31, 2020 we could start seeing significant sales in the employment market given the current global health crises and Covid-19
We are focusing our efforts on further penetration of markets with new products, including, but not limited to, the Covid-19 rapid antibody test we are distributing along with other infectious disease products we are offering, and further expanding our contract manufacturing business.
Our continued existence is dependent upon several factors, including our ability to: 1) raise revenue levels even though we have lost significant accounts and the market continues to be infiltrated by product manufactured outside of the United States, 2) further penetrate the markets (in and outside of the United States) for Covid-19 rapid antibody tests, 3) secure new contract manufacturing customers, 4) control operational costs to generate positive cash flows, 5) maintain our current credit facilities or refinance our current credit facilities if necessary, and 6) if needed, obtain working capital by selling additional shares of our common stock.
The First Quarter 2020 did not include any revenues from the sale of Covid-19 rapid antibody tests. Although we were able to generate prepaid, pre-sales of the Covid-19 tests late in the First Quarter 2020, we did not start shipping products and generate revenue until May 2020. Prior to May 2020, there were a number of regulatory events that resulted in an inability to get the supply of products from the manufacturing plant in China. Once those events were addressed, we were able to receive product and ship orders to customers. As of the date of this report, we have shipped $1,126,000 in products to customers and there are additional orders pending from customers. (End of May-July 31 = TWO MONTHS)
While we do expect the marketing of the Covid-19 test to further positively impact our revenues in the year ending December 31, 2020, we do not yet know the full extent of the impact of COVID-19 test sales on our business, our financial condition and/or results of operations. The extent to which sales of the COVID-19 test may impact our business, operating results, financial condition, or liquidity in the future will depend on future developments which are evolving and uncertain including the duration of the outbreak and the need for antibody testing in the future.
As of the date of this report, gross margins have improved as a result of Covid-19 rapid antibody test sales. At this time, it is uncertain whether the current profit margins of Covid-19 test sales will continue at the present rate. Various factors can affect marketing pricing (such as an increased number of EUA issued products and their availability to customers, and costs of materials to manufacture the Covid-19 tests. We are continually taking actions to adjust our production schedules to try to mitigate future inefficiencies and we closely examine our gross profit margins on our manufactured products and the products we distribute.
In late March 2020, we also started selling a Covid-19 rapid antibody test from Healgen Scientific, LLC via a distribution relationship. As of result of this new product offering, we do expect sales commission rates to increase as sales are achieved. We may also increase the size of our sales team depending on the level of sales achieved. We will continue to take all steps necessary to ensure selling and marketing expenditures are in line with sales.
We expect to devote capital resources related to selling and marketing initiatives. We are examining other growth opportunities including strategic alliances. Given our current and historical cash position, such activities would need to be funded from the issuance of additional equity or additional credit borrowings, subject to market and other conditions.
We are promoting new products and service offerings to diversify our revenue stream, including a Covid-19 rapid antibody test. We also secured the business of two (2) new contract manufacturing customers.
8-K Comments in the order I pulled them from the filing.
Waterhouse continued, “We started generating sales of the rapid antibody test in May 2020. Since our last press release update on June 26, 2020, we have continued to sell the rapid Covid-19 antibody tests. Although market demand for antibody testing can fluctuate as infection surges occur (due to the higher demand for diagnostic testing), we are still recording sales. These sales are for now offsetting our drug testing declines. We believe there is an opportunity for Covid-19-related sales to contribute significantly to our 2020 financial results.”
Let me know if I missed anything.
The Rainbow
Thanks, I will upgrade my membership to use that feature.
Thanks Inspector, what are you using for the bid/ask volume info?
The BOD is Waterhouse and do what she says or she would have been replaced a decade ago.
Our emails probably get auto forwarded to Melissa and they never see them (being facetious)
IMO, the larger shareholders have to know we are united with them to make the change. They will put pressure on the BOD. Bombard them with emails and they are the ones who will get the point.
Have a good break tomj1
Point well taken. Think of it this way. Allgenericos is just a long term client that has increased business with a new product line, so there is no legal reason to do any filings.
Many of us would agree with your thinking that a PR would make both Allgenericos and shareholders alike very happy for marketing purposes.
Concerning the lack of clarity and finances. Well, I was reading some historical news on ABMC tonight and it reinforces my thoughts that some things will never change with this management. EVER, EVER, EVER!
If we like the possibility of a great run with this company, hold on. If frustration is not work the effort, and it crosses my mind daily, walk away. It seems like a flip of the coin every morning doesn't it?
Personally, I like the idea of the next move up in spite of management. But, the frustration remains.
Good luck to all.
These regulatory issues were between the US and China. Trump vs the world and have nothing to do with shipping or inventory problems.
We get materials as soon as they are available.
This is a great idea
-I elaborated with post 19253 on the restricted shares
-Post 19255 on regions that I see has already been asked. They have clients for the drug testing business nationally and internationally. So, a good question to ask the company is if they have an existing client, say in California, does that relationship supersede the Healgen territory boundaries?
-What about asking about peripheral equipment such as masks, caps, gowns as other income sources which makes sense that they could already have been selling.
Good point Andre, I do too. Perhaps that is why it can be so frustrating.
Only an underlying reason to stay silent could justify what we are experiencing, but there are many businesses in my neighborhood that just did not get the correct way to run a shop and they are closing while I have all the work I can handle.
So we are still flip flopping between ineptness and silence for better things to come.
They have clients for the drug testing business nationally and internationally.
So, a good question to ask the company is if they have an existing client, say in California, does that relationship supersede the Healgen territory boundaries?
That was a good amount of time you put into getting those emails. TY bk.
Concerning my question. Several entities, people and businesses, have received restricted shares, meaning they cannot be immediately sold upon receiving them.
Some of the shares were restricted under rule 144, which was discussed some days ago. I believe they have to be held 6 months but am not sure if this is a blanket condition.
It is possible other shares that were restricted have differing time limits before they can be sold. Perhaps the shares given to Cherokee in exchange for loan payments or others for services, etc.
It would be good for us to know when those shares become available to be sold, the restrictions removed.
The terms for these restrictions is what I did not find in public info.
Sometimes it is listed on websites or in an accounting document somewhere.
Thanks again bk1287 for the efforts.