American Bio Medica Corp (ABMC)

[The Rainbow]

I read this company description in the 8K filed Dec 11, 2020 from one of the news outlets concerning Lincoln Park arrangement. It is strange because it is very different than other current company descriptions. I did see this same ABOUT US in a filing as far back as 2011.

Note that COVID testing is not mentioned. The news source may have pulled this from some archives. If it is older, there may be newer products I don't have an interest to look into it any further.

This should answer your question better than I can.

Can you describe what is actually the Oral Fluid Drug Testing Platform is exactly

About AMERICAN BIO MEDICA CORPORATION (OTCMKTS:ABMC)

American Bio Medica Corporation develops, manufactures and sells immunoassay tests, primarily for the immediate, point of collection testing (POCT) for drugs of abuse (DOA) in urine and oral fluids. The Company’s DOA POCT products offer employers, law enforcement, government, healthcare and education professionals to identify illicit drug use. In addition to the manufacture and sale of DOA POCT products, the Company provides bulk test strip manufacturing services to unaffiliated third parties on a contract basis. Its Rapid Drug Screen (RDS) is a POCT product that detects the presence or absence of 2 to 10 DOA simultaneously in a single urine specimen. The Rapid ONE product line consists of single drug tests, each of which tests for the presence or absence of a single drug of abuse in a urine specimen. The RDS InCup is a POCT product that detects the presence or absence of 1 to 12 DOA in a single urine specimen. The POCT products for oral fluid-based DOA testing include OralStat.

How ready is this Platform?

It has been ready for sale for some time. Companies changing strategies and focusing on the pandemic have put a major hurt on all drug test kits.

From the 10K filed 11-16-2020

Beginning in mid-2019, we can sell oral fluid drugs tests in the employment and insurance markets under a limited exemption set forth by the FDA. Prior to this point, we could only sell our oral fluid drug tests in the forensic market in the United States and to markets outside the United States. We are hopeful that gaining access to this market again will enable us to see revenue growth for our oral fluid drug tests in the future; however, we are uncertain when/if in the year ended December 31, 2020 we will see significant sales oral fluid drug testing in the employment market given the current global health crises and Covid-19.

Who, if any are existing customers?

Melissa never names clients. She believes it is a company secret and the clients will be stolen away if competitors find out. So we will probably never see who uses the kits and can't rely on referrals for marketing purposes.

Who is the potential markets for the platform?

The Company’s DOA POCT products offer employers, law enforcement, government, healthcare and education professionals to identify illicit drug use.

If I remember correctly the test strip market is saturated by foreign company sales. The oral tests are newer and the technology is changing and upgrading more rapidly, so the company is putting emphasis here.

Also oral tests can be administered much more easily by any "authorized agent" of an agency, while urine testing requires female administrators for females etc. Also they require privacy and more.