American Bio Medica Corp (ABMC)

[One11]

I received this email this morning where the CEO confirms..



Hello,



I’m not sure if you received my response on Thursday 5/14 so I am resending (with some additional information).



We are aware of the amount of information being posted on the internet (none of which comes from the Company). I cannot comment on what has been posted, stated, etc by anyone other than the Company (this would amount to commenting on rumors as I believe I have already indicated ABMC does not do as part of our communications policy). We have spoken with our distributor in Ecuador regarding posting information without ABMC’s consent and I believe they have removed the posts.



We understand that investors are anxious to receive an update on the Company; specifically its progress on the offering of Covid-19 tests. Significant sales are certainly a material event; however, under US GAAP specific conditions must be met before revenue is recognized. The marketing and sale of these tests has rapidly involved over the last 2 months on many fronts (regulatory, timing of supply, etc.). For this reason, we believe it is in the best interest of the investing public, our shareholders and the Company to not issue press releases about what we “expect” will happen; instead we think we should issue releases on what has happened (understanding the conditions that must be met). We are well aware that forward looking statements are made by public companies all the time but, we don’t think Covid-19 and the pandemic are the right environment for such forward looking statements.



Stay well,

Melissa



Thank you,