American Bio Medica Corp (ABMC)

[paulbk]

Then we had the million-dollar month. Who thought that gravy train would be derailed?
If your business falls apart due to a natural disaster but you immediately find a product that sells for a million a month and covers your short falls, why would you not pursue selling that product like your hair was on fire? Hire more sales people and get moving. None of that seemed to happen unless they are hiding it for a Q4 surprise.

They have the brains on board there to have realized that a rapid PCR test was what the market wanted mid-summer. They should have had a deal for one by August and had sales to show for it by the end of Q3. They finally got the CODX test in November but have they sold any? Who knows!!! Better late than never? Shareholders hope so!!!

If they pursued CLIA certification for the NJ lab they could probably process 2500 to 5000 Covid tests a day at around 30 dollars a pop. At the low end that's 400K a week. 1.2 million a month just on the processing, test sales are extra.

This Q will tell whether they are only interested in maintaining the status quo like a Dunder Mifflin or the notorious Kroger Industrial Smoothing or being more of a growth company. Almost everything they have done has been defensive, not proactive.