American Bio Medica Corp (ABMC)

[geocam]

$ABMC monies from this distribution will add profits for a while. So now they have PCR and antibody tests to market. Both give results quickly and are sold institutionally.

$ABMC to Distribute Co-Diagnostics Inc. EUA Issued Logix Smart(TM) Covid-19 Test

https://www.streetinsider.com/Accesswire/ABMC+to+Distribute+Co-Diagnostics+Inc.+EUA+Issued+Logix+Smart%28TM%29+Covid-19+Test/17445622.html



$ABMC Net sales +32.2%: Covid-19 tests $1,105,000

$1,105,000 is only a part of the quarterly sales:

https://www.sec.gov/Archives/edgar/data/896747/000165495420010108/abmc_10q.htm

In late March 2020, we began marketing the Covid-19 rapid antibody test, manufactured by Healgen Scientific, LLC, in full compliance with the March 16, 2020 Emergency Use Authorization (“EUA”) policy set forth by the United States Food and Drug Administration (FDA) and in accordance with an EUA issued by FDA on May 29, 2020. Due to specific regulatory events that occurred from March 2020 until May 2020, we did not record any sales of Covid-19 tests until later in May 2020, although we did take pre-orders (with payments) for Covid-19 tests prior to shipping product.

Later in May until June 30 = $1,105,000 ? $736,667 per month to start? Covid-19 sales are in addition to normal business revenues.

Sales could be an additional $2,210,000 for Q3?


https://www.sec.gov/Archives/edgar/data/896747/000165495420010108/abmc_10q.htm

NET SALES: Net sales for six months ended June 30, 2020 increased 32.2% when compared to net sales in the six months ended June 30, 2019. Sales of the Covid-19 rapid antibody tests in the amount of $1,105,000 offset declines in drug test product sales and contract manufacturing sales; both of which were negatively impacted by the Covid-19 pandemic.

https://www.sec.gov/Archives/edgar/data/896747/000165495420010108/abmc_10q.htm
Also:

As the market for Covid-19 testing develops over time, we are also reviewing alternative products to offer our customers; products such as PCR tests, antigen tests and tests that use new (alternative) samples (such as saliva or breath).