American Bio Medica Corp (ABMC)

[kfox]

10k is late already, hence stop sign. SEC or FINRA provided relief, due to COVID, for companies through May 29 for reports that were otherwise due by March 20. Our CEO issued an 8k (and confirmed via many emails here) that they tried but could not meet that date because NY/NJ area where they are located was especially hard hit and that “many” companies are late since they presumably use a limited number of audit firms that simply were unable to complete their annual audit because they could not travel or otherwise even stay open (some of this is my filling in the blanks; others can correct me). Now, they are just waiting their turn as the auditors catch up. No set date on when that happens.

Unfortunately, they can’t issue 1st quarter 10q until 10k is issued. They only have until June 29 for 10q after which that could keep the stop sign up. I don’t believe GAAP requires an audit for 10q’s.