American Bio Medica Corp (ABMC)

[paulbk]

The CODX fail excuse has a lot of holes in it. First I follow CODX closely and I had not seen any mention of them not being able to sell tests due to a shortage of high thru put machines. Now, I may have missed Co-Diagnostics mentioning that but I can't find a PR from them that cites machine shortages as a reason for lack of sales. They had record numbers for 2020 in fact. I don't know how you get there if customers can't use your tests.

I assume part of the ABMC statement about shortages is true in that it probably means ABMC's CLIA lab customers don't have these machines. I could be wrong about that supposition but nonetheless, it should have been clarified and problems distributing the CODX tests should have been revealed long before 4-15. Also, why would you PR a test you can't sell?
There should have been some guidance late January or February. The stock price spiked in February partly based on anticipation of CODX test sales which were, as we found out, non-existent.



From the 10K:
"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."