American Bio Medica Corp (ABMC)

[paulbk]

Another example IMO of poor shareholder communication is in the discussion of why there were no sales of the CODX Covid 19 test in 2020 and presumably, continuing into 2021.
The distribution deal was announced in early November 2020. Shareholders presumed there was a high potential for robust sales of this product given that PCR testing was in great demand. Then no word on how sales were progressing for 6 months until the 10K reveals the excuse listed below. Why did it take 6 months to reveal this information? Quiet period? Cat ate my email?

From the 10k
Excuse #1
"There were no sales of the Logix Smart Covid-19 test in Fiscal 2020. This is primarily due to the shortage of PCR machines; because of this lack of supply, we could not offer potential customers a testing platform for the reagents to be used on."
Excuse #1a
"This RT-PCR test enables us to offer customers a diagnostic tool that can be run on high-throughput machines in clinical laboratories certified under CLIA. Unfortunately, due to a large backorder of high-throughput machines, we did not record any sales of the Logix Smart Covid-19 test in Fiscal 2020. We are hopeful that the machine backorder will subside and we would then be able to provide this testing resource to customers."