ABMC Announces The Filing of Form 12b-25
American Bio Medica Corporation (OTCQB:ABMC) announced a Notification of Late Filing for its Annual Report on Form 10-K for the year ending December 31, 2020. The delay, due by March 31, 2021, is attributed to the need for additional time to obtain audit confirmations and complete the review with auditors. ABMC expects to file the report by April 15, 2021. CEO Melissa A. Waterhouse reassured shareholders, clarifying that the delay is not due to audit issues. The company specializes in cost-effective immunoassay test kits for drugs and Covid-19 detection.
- ABMC is undertaking steps to promptly file its Form 10-K, aiming for completion by April 15, 2021.
- The delay in filing is explicitly stated to be due to information delays, not audit issues.
- The company has a history of recurring net losses, raising concerns about its financial health.
- Delays in filing may lead to increased scrutiny from regulators and investors.
KINDERHOOK, NY / ACCESSWIRE / March 31, 2021 / American Bio Medica Corporation (OTCQB:ABMC), a US-based manufacturer of accurate, cost-effective immunoassay test kits, announced today that it has submitted to the Securities and Exchange Commission a Notification of Late Filing with respect to the Company's Annual Report on Form 10-K for the year ended December 31, 2020. The Notification states that the 10-K could not be filed by its original due date, March 31, 2021, because ABMC needs additional time to obtain audit confirmations from vendors and customers and complete the review/audit of the Form 10-K with its auditors.
ABMC expects to receive the required confirmations and complete the audit shortly so the Company is in a position to file the Form 10-K on or before April 15, 2021.
Chief Executive Officer Melissa A. Waterhouse stated, "We want to assure our shareholders that the delay in filing our Form 10-K is purely due to delays associated with information required to file the Form 10-K and not the result of any issues in the audit process. Both ABMC and our auditors are working diligently on the Form 10-K and the document will be filed as soon as possible."
For more information on ABMC or its testing products, please visit www.abmc.com.
About American Bio Medica Corporation
American Bio Medica Corporation manufactures and markets accurate, cost-effective immunoassay test kits, primarily point of collection tests for drugs of abuse, and distributes a rapid test to detect Covid-19 antibodies, a RT-PCR test to detect Covid-19 and a rapid Covid-19 antigen test.
This release may contain forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ, and such differences could be material. Such risks and uncertainties include, but are not limited to, risks and uncertainties related to the following: continued acceptance of our products, increased levels of competition in our industry, acceptance of new products, future sales and profit levels of the rapid antibody test, RT-PCR test and rapid antigen test for Covid-19 that we are distributing, product development, compliance with regulatory requirements, including but not limited to our ability to obtain marketing clearance on our product for our intended markets, intellectual property rights, our dependence on key personnel, third party sales and suppliers, trading in our common shares may be subject to "penny stock" rules, our history of recurring net losses and our ability to continue as a going concern. There can be no assurance that the Company will be successful in addressing such risks and uncertainties and the Company assumes no duty to update any forward-looking statements based upon actual results. Investors are strongly encouraged to review the section entitled "Risk Factors" in the Company's annual report on Form 10-K for the year ended December 31, 2019, quarterly reports on Form 10-Q, and other periodic reports on file with the Securities and Exchange Commission for a discussion of risks and uncertainties that could affect operating results and the market price of the Company's common shares.
Contacts:
Melissa A. Waterhouse
Chief Executive Officer
(800) 227-1243, Ext 107
SOURCE: American Bio Medica Corporation
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