American Bio Medica Corp (ABMC)

[The Rainbow]

Updated ABMC share price projected to be $2.30-4.60 which is very reasonable on SIX MONTH net sales of $8-10m for 2020. I updated calculations to show only PROFITABLE SIX MONTHS NET SALES ESTIMATES

$ABMC excellent 10-Q showing first full month rev for the COVID-19 test kit = June with $800,000.00 NET revenue

Is there a reason we are not discussing this post.
Is there an error or is it extravagant?
These look like most conservative numbers.


Let's look at American Bio Medica sales progress.

Q1 declining revenues continued from 2019. Company relying on old drug tests revenues that have been suffering from overseas competition for years.
New oral drug test just approved by FDA and marketing begins.
New contract manufacturing clients just signed.
Sales will take time to hit the bottom line.

Q2 continued poor revenue numbers from Q1 into April and May. Drug testing revenues decline even further due to Coronavirus hitting domestic and international clients. Behind the scenes, licensing of the Coronavirus Healgen COVID-19 antibody test and government approval for the test begins.
May: FDA EUA approval on May 29 for the new Healgen COVID-19 test allows the company to begin shipping the new COVID-19 test.
June, the last month of Q2, put it all together with sales, shipping and revenues doing the heavy lifting for the huge increase in the 10-Q revenue boost.

Q3 will be the first full quarter of revenues, three months, of net profits to report.


Following calculations are all NET SALES.

NET SALES of $800,000.00 for June and projected share price of $2.30 if we use a very conservative multiplier of only 10. $4.60 with a multiplier of 20 for conservative annual sales.

June did the heavy lifting for share price. Drug test sales declined for the quarter while revenues increased. This is all attributed to sales of the COVID-19 products.
We can extrapolate that June carried $600-800,000.00 of the sales quoted in the Sept 15 PR's and 10-Q

Net sales in the second quarter of 2020 were $1,758,000, compared to net sales of $958,000 in the second quarter of 2019; an increase of $800,000, or 83.5%. Net sales in the six months ended June 30, 2020 were $2,486,000, compared to $1,880,000 in the six months ended June 30, 2019; an increase of $606,000, or 32.2%.

Projecting forward:
I am going to do something out of the ordinary by only using six months of projected sales income July-December for an annual positive net sales shares price estimate to show how the company has turned around.

June numbers proved the company is now geared up for receiving, shipping and sales and the company stated increasing demand for these products. Also, the companies foundational drug test kit sales have improved PLUS new drug test kit sales are increasing.
June was a profitable month with $800,000.00 net sales.
Projecting the second half of 2020 or six months of profitable net sales at the minimum of $1-1.5 mil monthly averages to $1.25 mil
Q3 and Q4 is July-Dec or 6 months at $1.25mil = $7.5 mil + June $800K = $8.3 mil profitable net sales.

Basically, conservatively estimated six month positive net sales of $8.3 mil in 2020 / 35,953,476 OS = $.23 x 10 multiplier = $2.30

Q3 numbers will nail down these estimated figures.

Of course I am not an accountant, but these numbers are so promising they can't be ignored even if numbers vary upwards or downwards by several percentage points.