ALL READ.....THIS WILL help make things CLEARER...have a BLEEPIN heart....I am Melissas BIGGEST critic, but this time here in the NY/NJ area BLOWS...let me repeat that F-IN BLOWS....
Sent: Fri, May 29, 2020 6:54 pm
Subject: Re:URGENT: Friendly Reminder Team
Unfortunately, we are in the Epicenter of the Covid 19 crisis. Our auditors are locally here in NY and are as backlogged as can be. Our financials are filed, we are just waiting as are a lot of other NY companies. That being said, nothing with our business has changed. The company is open and operationally sound. The Sales of our Test Kits both domestically and globally have not changed and are very very robust. We apologize for this, but it is truly out of our control during these uncertain times.
The 8-K indicated what was causing the delay (or as your email indicates the “problem”). There are still documents and information that need to be verified by the auditors before they will issue their report on the financials. If there were other “problems” there are specific required disclosures the Company would need to make in the 8-K . In fact, 8-Ks have a specific section related to “Matters related to accountants and financial statements” (Section 4 of Form 8-K).
Ahas limited resources; especially related to management personnel. A management has been intimately involved in the sales and marketing of the Covid-19 tests due to the increased scrutiny of Covid-19 marketing as well actions the Company has needed to take to comply with NYS requirements to keep operating our DOA and contract manufacturing business. Periodic reports (like the 10-K and 10-Q) also require a substantial amount of management involvement. Management’s involvement in the Covid related activities has diverted management resources from the filing.
You are correct that ABMC does not have an overly complicated balance sheet. While there are some reduced disclosure levels afforded to smaller reporting companies by the SEC, regardless of the level of complication of the financials, every financial aspect of the business is audited under the same accounting principles (US GAAP). Because of this, specific tasks need to be completed by the Company and its independent registered public accounting firm before the final report can be issued. A (along with our auditors) are very close but, without those verifications, the auditors cannot complete their audit and issue the report.
As indicated in the 8-K, we do intend to file our 10-K as soon as practicable once this information and documents are compiled and verified.
CEO & Director / American
(800) 227-1243 or (518) 758-8158, Extension 107
Visit us on the web at www.abmc.com
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Sent: Friday, May 29, 2020 5:45 PM
To: Melissa Waterhouse
Subject: [SPAM] - Re: RE: Re: : URGENT: Friendly Reminder ABMC Team - - Found word(s) $$$ in the Text body
You have to be kidding me here????
If you were doing 100 M 500M etc in sales w a complicated balance sheet...maybe... possibly I would understand...but this is ridiculous to the highest degree...
What the ___ is the REAL problem?
Thanks in advance https://secfilings.nasdaq.com/filingFrameset.asp?FilingID=14188339&RcvdDate=5/29/2020&CoName=%20BIO%20MEDICA%20CORP&FormType=8-K/A&View=html
Sent from myMail for Android
Friday, 29 May 2020, 03:04PM -04:00 from Melissa