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One minute chart shows buying all day. I feel this chart is very important.
This company shows so much manipulation that I can't cover every thing I see.
Today was definitely a sell off, but analysis of the charts shows some interesting discrepancies of price vs volume.
Today's one minute chart shows buying the majority of the day.
Take a closer look!
34% of our volume (333,704) shares on red bars happened in the first 30 minutes. The rest of the larger bars on the day were green for a total of 1,122,525. This is simplified math.
Timeline
-Open to gap down to .60 from .72 are the MM's since we do not trade premarket
-First candle of the day is selling continued from the MM gap down and then with buying coming in immediately, shown by the wick, and then close at .55
-The flush down to .32 took seconds and back to .552 Perhaps to take out stop losses.
-Several mixed candles to .44 and later to .41 but note the price range is minimal as sellers and buyers are competing.
-Buying the rest of the day on lower volume. But price range upwards is minimal because share price is being held back.(JMO)
My other indicators are all green on the day.
We just need a catalyst to bring in new eyes and back to blue skies. The next Q is make or break.
Who is selling:
Public shareholders:
I am certain shareholders that have been holding for decades are taking profits or cutting losses for their recent "miracle" in the recent upward price move.
Cherokee would probably be a seller:
2019 Cherokee Term Loan, the Company issued 200,000 restricted shares of common stock to Cherokee in the three months ended March 31, 2019.
These will be coming up: On February 24, 2020, the Company completed a transaction related to a one-year Extension Agreement dated February 14, 2020 with Cherokee... For consideration of the Extension Agreement, the Company issued 1.5% of the $200,000 principal, or $3,000, in 42,857 restricted shares of the Company’s common stock to Cherokee.
Stock options were giving in 2019 and years previous that have hit the market.
Shares have been given as compensation that do not fall under rule 144.
And on certain days there is the fact that MM are showing buying as selling to manipulate the recent speculative shareholder to sell.
We do not have a way to know these numbers.
$ABMC filings have become more detailed recently. Previous years read like a simplified spreadsheet.
Ask where the restrictions are posted for the restricted shares.
This is public information and can tell us when shares can hit the market and I have not been able to find it.
(I can not private message)
Reason for share price decline: Remember the similar chart as below I posted a short time ago? I took a lot of flak over it, and yet the technicals remain the same today.
Be cognizant on my use of the terms consumer interest vs consumer confidence.
Sideways or declining volume = lack of consumer interest = share price drop.
This has been obvious the past 21 days.
Today is only the second time that increased selling volume broke the volume trend line since March (June 2 was the first). Consumer interest has been declining since March 8, but today is the first of clear selling pressure, of true lack of consumer confidence.
Increasing selling volume = lack of consumer confidence = share price drop.
This is due to lack of PR's and positive reporting of fundamentals.
Note that today is the largest percentage fall of the year on volume much less than the June 2 decline is due to the thin float. $ABMC price moves will continue to be exaggerated due to lack of shares and traders to buffer the extremes.
When increasing buying volume breaks over this line, we will have the first positive sign that we move back towards the dollars.
I uncovered the ownership of MP Biomedicals by going through every Form-4 back to 2015 and not seeing any document that they had sold.
No mention that the stock was given for any compensation.
As for stock options it was stated in the 10-Q that none were given for this year, but there were for 2019 and previous years. I did not read the documents back to 2015.
Let's be clear that the details in the recent filings are much more comprehensive than they have been in recent years.
Valiant Co Ltd owns 13% of $ABMC and is a 16.237 BILLION Market cap company
MP Biomedicals owns 13% or 4.7 mil shares of $ABMC
https://www.otcmarkets.com/filing/html?id=14287313&guid=5sFFUHVJ3H_cg3h
MP Biomedicals is a wholly-owned subsidiary of Valiant Co., Ltd.
https://www.mpbio.com/about-us
Valiant Co., Ltd. has 3,250 total employees across all of its locations and generates $413.44 million in sales (USD). There are 19 companies in the Valiant Co., Ltd. corporate family.
http://www.valiant-cn.com/about.aspx
Public listing:
https://sg.finance.yahoo.com/quote/002643.SZ/
It is definitely not time time for MP Biomedicals to ignore the moves $ABMC has been making.
Important connection or...?
The 10-K and 10-Q is very clear on who received shares for monies owed, for delayed salaries, expenses, loans etc. and shares in private placements.
The 10-Q also stated no stock options were granted.
The 10-K had 80,000 in options granted.
If since large cap companies ( well all public companies ) give guidance. That would certainly be a very appropriate comment.
That site is also saying we will be on Cramer this week.
AGREED, this is the gap we want to fill!
$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.
No vaccines will work until they find one for the common cold and flu. That is the reality and why testing will be so important for years to come.
It is possible we may never even have herd immunity because antibodies are dropping more quickly than expected, similar to the common flu and why we need yearly flu shots.
Common human coronaviruses with no vaccines.
229E (alpha coronavirus)
NL63 (alpha coronavirus)
OC43 (beta coronavirus)
HKU1 (beta coronavirus)
Other human coronaviruses
MERS-CoV (the beta coronavirus that causes Middle East Respiratory Syndrome, or MERS)
SARS-CoV (the beta coronavirus that causes severe acute respiratory syndrome, or SARS)
And the current pandemic
SARS-CoV-2 (the novel coronavirus that causes coronavirus disease 2019, or COVID-19)
People around the world commonly get infected with human coronaviruses 229E, NL63, OC43, and HKU1.
Common human coronaviruses, including types 229E, NL63, OC43, and HKU1, usually cause mild to moderate upper-respiratory tract illnesses, like the common cold. Most people get infected with one or more of these viruses at some point in their lives. This information applies to common human coronaviruses and should not be confused with coronavirus disease 2019 (formerly referred to as 2019 Novel Coronavirus).
Symptoms of common human coronaviruses:
runny nose
sore throat
headache
fever
cough
general feeling of being unwell
Human coronaviruses can sometimes cause lower-respiratory tract illnesses, such as pneumonia or bronchitis. This is more common in people with cardiopulmonary disease, people with weakened immune systems, infants, and older adults.
Yes if the virus mutates or antibodies diminish in the bloodstream over a period of months as evidence to that fact is coming out.
A reminder to all that the Coronavirus is the common cold.
Good reminder of where we are going, despite the companies lack of outward enthusiasm. They must be bursting out in anticipation inwardly.
Tens of millions in sales.
Great reminder on the 144's.
Let's think conspiracy as a few posters are leaning.
If most of the recent company shares have been purchased or distributed in and before February/March, that would mean the earliest profit taking can take place is six months or August-September.
The next Q is due August. Think PR's > Q > PR's rocket ship and selling.
Now if you Think long term holds, as many on the board are leaning.
Shares have been purchased or distrubuted, Q released > PR's released > share price runs throughout the year. Medium hold traders take profits. Long term investors hold and take profits in 2021, save taxes, keep a portion for future.
The 8-K and 10-k's mention restrictions on some shares. This is the question to email the company and one they will have to provide specific answers. Ask what terms are on the share restrictions and the accounting rules being used.
I believe I read some months ago that Stuart has an affiliation with one of the board members, so he would have seen an opportunity as early as February.
As strict (and more organized)as Melissa has become, odds are she will stay on top of the large investor moves. especially insider selling.
A private placement is mentioned several times, but the individual is not named. So there is interest, and the purchase will have been included in the 10-KA.
Good points as always tedpeel.
Well, I am sure we all were waiting for the Subsequent Events comments to bring in new interest.
Maybe not fireworks, but smoldering kindling at least.
But as you are saying patience is key.
Shares will move up in spite of management. I do see several signs of positivity in this filing that I'll put together.
si30, The Board is Melissa. They do what she recommends or she would have been gone by now.
Positively, this makes them as conservative as she is.
Negatively there are only 3 board members and they have been working together for quite some time. Currently, their agenda is to profit themselves by low priced stock options etc.
I am sure they are due profits at this time for all the inconveniences they have had all these years. They have delayed salaries, delayed cost reimbursement, probably lost sleep on finding ways to turn the company around. But now it is at the expense of OUR BUSINESS.
Not to disparage the individuals in this company, but a complete change of management and the board will be necessary to turn things around.
Perhaps emails should be directed towards the larger shareholders like
MP Biomedicals LLC..........4,738,601.......13.18 %
John J. Moroney.................2,481,608........6.9%
Stuart Sternberg.................2,428,671........6.76%
Valiant Co is the 100% owner of MP Biomedicals
Well put Karlchen. This is OUR BUSINESS and it is being held back by the company, just as the supply of test kits was holding back sales for $ABMC.
Fortunately, for both the companies business and ours, end results will be very positive.
Well said and asked BK
Unfortunately the 8-K states: The Company is unsure if it will be able to file the Form 10-Q for the period ended June 30, 2020 by August 14, 2020 or by August 21, 2020 but, will take every effort to do so. The Company has a long track record of compliance and is doing everything possible to get back in compliance with its financial filings.
IMO they should be OK on this go around to be on time.
With no Subsequent Events announced, there is zero reason new buyers will be attracted to join us.
KINDERHOOK, NY / ACCESSWIRE / July 31, 2020 / American Bio Medica Corporation (OTC PINK:ABMC) today announced financial results for the three months ended March 31, 2020 .
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."
You to. With the 8-K we can have some solice in knowing we do not have to be concerned with this.
My mind went that way too. The way it was written seems they are being deceptive.
Case in point why Melissa does not comment on rumors.
Healgen, the test kit we are distributing, share price is at record highs
https://finance.yahoo.com/quote/688298.SS?p=688298.SS
Valiant Co. Ltd. that owns 13% of $ABMC is near record highs.
https://finance.yahoo.com/quote/002643.sz
(MP Biomedicals owns 13% of the company which is owned by Valiant a international billion dollar company)
Kaiser is the name of the county representative for Columbia County in NY near the $ABMC offices.
Columbia County did an in depth study of the ABMC test kit and is often quoted.
https://www.hudsonvalley360.com/news/columbiacounty/county-satisfied-with-antibody-tests/article_00f4dff5-35c4-5214-bb59-462a2d8a6db3.html
It is possible that a large distribution deal may (or may not) be in place. Just that the company has not reported it.
If there were no large distribution deal, she would not tell us that either.
So she is not giving us positive info and she is not giving us negative info. She is not commenting on rumor in either direction.
Agreed.
Announcing 1 mill in sales is announcing that things are turning around for thiis company and that alone is material to investors. Bringing in buying interest.
I take everything she said in your post as neutralizing any "rumors".
So she is not answering positively or negatively and wants to be clear that the company has never insinuated any deals.
Another test kit PR $COPRF for new distributorship announced AH some outlets announce earlier.
QuestCap Inc. (“QuestCap” or the “Company”) (CSE:QSC; FRA:34C1) is pleased to announce it has secured the exclusive rights to sell Hangzhou Laihe Biotech Co. Ltd.’s LYHER Novel Coronavirus (2019-nCoV) IgM/IgG Antibody Combo Test Kit (Colloidal Gold) within North America . The LYHER test kit was extensively reviewed by the US Food and Drug Administration (FDA) and the National Cancer Institute – Frederick National Laboratory and reported strong clinical results. The test kits are available for immediate sale in the United States.
$COPRF Up 109% on the day No earnings from kits yet.
$PRPO up 469% no earnings on kits
Good point.
With technical analysus I held off buying until the close today.
I have a bit left for tomorrow and my powder will be used up.
Let's get the booster engine from $PRPO. They were trading about 20% more volume as compared to $ABMC then increased to 30 day ave volume of 1,576,254 and today hit 91,574,277 with huge after hours trading right now.
$PRPO is nasdaq and current though.
ABMC volume for 30 day ave is 593,120 and we are at 634,423.
This is our best positive volume day since July 10 when we were at $1.16
With the 10 d ave up, it is our best day since July 10.
I am hitting the ask.
One of the best questions someone can email the company is to ask where the restricted share policy is is noted.
The terms for the restriction can vary, but they have to be public information somewhere.
This is the accounting document the company is always referencing, but it is general like the source you noted in a previous post.
https://www.fasb.org/jsp/FASB/Document_C/DocumentPage?cid=1176170789464&acceptedDisclaimer=true
Waterhouse for her credit has had deferred partial salary several times.
So as an individual, she seems to be honest and hard working. Doing the best she knows how.
As a CEO for a new future? Maybe not so much.
I could not in conscience deride her for not having the abilities to run this company and much as it is the fault of the board of directors to watch this company slide to pennies.
BUT, this is where our opportunities have come from.
Perspective: 12 year price levels. Yes .65 is price level from July 2008.
$1.20 is like 2004 and 2007.
$2.00 is two decades ago in 1999 and 2000.
$5.00 is 1997
These are the people who are selling. Holding shares for a decade waiting for a miracle which for them is Corona virus and Healgen.
Technically the chart was screaming to take profits at $1.00 but we could not see the left side of the chart because it was 10 years away. Not the typically 180 days.
Fundamentally? Do we have a new company? The reality is that we should, but only the Q with subsequent events will verify our DD.
@TedPeele, I always enjoy your questions but---
Restricted shares are mentioned all over the footnotes of the 10 K/A, I am not clear if they were for everyone. Also in previous years. I did not find how long the restrictions are for.
I am too bored to post on financials again. I dislike accounting with a passion, but still provided a lot of DD and am burned out.
Accept that the company is scrambling from the disorganization it was in before share price ran.
Waterhouse is trying to maximize their own profits. Shareholders be damned at this point.
Rightly or wrongly the company was trading at $.06 when COVID-19 hit. Just picture in your mind how overjoyed everyone in that company is when we ran over $1.00.Otherwise it would be trading at $.04 by now.
I would not be surprised if we begin to see stock bonuses being approved, which has never been done.
JMO
Bottom Line- Melissa Waterhouse did the board, management and herself good with holding back the filings. They will be making millions on the exercised options.
Next move has to be a catalyst, which in her case will probably be a Q filing.
Then we well begin to see a string of PR's
Many of the stock options are restricted, so the run will be solid and spread out to maximize the price point where insiders will take profits.
Finally, expect buyers with info we do not have to enter at these price levels.
With a float of only 15 million shares Waterhouse has all the control.
Valiant Co Ltd owns 13% of $ABMC a $16.237 BILLION Market cap company.
MP Biomedicals owns 13% or 4.7 mil shares of $ABMC
https://www.otcmarkets.com/filing/html?id=14287313&guid=5sFFUHVJ3H_cg3h
MP Biomedicals is a wholly-owned subsidiary of Valiant Co., Ltd.
https://www.mpbio.com/about-us
Valiant Co., Ltd. has 3,250 total employees across all of its locations and generates $413.44 million in sales (USD). There are 19 companies in the Valiant Co., Ltd. corporate family.
http://www.valiant-cn.com/about.aspx
Public listing:
https://sg.finance.yahoo.com/quote/002643.SZ/
Gap filled - Repost of gap filling at $.636
Post #16426
Technically, we blew through the $.80's which may be the problem, We should have walked up through it.
But support is here at .86 but does not look strong.
With no volume we have the gap fill at .636 which I never brought up because it did not seem possible. Well now it seems possible, but only if volume does not come in. It would be on action like we had today, perhaps a market sell or two and then a sweep down for stop orders and back up again.