ABMC - Amer Bio Medica

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American Bio Medica Corporation develops, manufactures, and sells lateral flow immunoassay tests primarily for the immediate detection of drugs in urine and oral fluids. Its drugs detection products in urine include Rapid Drug Screen, a rapid drug test, which detects the presence or absence of 2 to 10 drugs; RDS InCup, a drug-testing cup that detects the presence or absence of 1 to 12 drugs; Rapid TOX, a drug test in a cassette platform, which detects the presence or absence of 1 to 10 drugs; and Rapid TOX Cup II, a drug testing cup that detects the presence or absence of 1 to 16 drugs. The company also offers OralStat, a drug test for the detection of drugs in oral fluids, as well as private labeled versions of OralStat. In addition, the company distributes other products for the detection of substances of abuse, as well as products to detect certain infectious diseases. Further, it provides bulk test strip contract manufacturing services to non-affiliated diagnostic companies. The company serves rehabilitation/drug treatment, pain management, other clinical, government, and employment/workplace markets. It operates in the United States, North America, Europe, the Asia Pacific, South America, and Africa. The company was formerly known as American Micro Media, Inc. and changed its name to American Bio Medica Corporation in September 1992. American Bio Medica Corporation was incorporated in 1986 and is based in Kinderhook, New York.

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Crescendo | Posted on Mar 11, 2022 at 11:37 pm | Bear

Looking at the company website and press releases for that past year, I do not see any information about how the company is going to cut losses and maybe even earn a profit. How long can they go on before going bankrupt? The investor relations page is completely useless, and does not even provide one reason to invest in this company.

Otiswick66 | Posted on Mar 11, 2022 at 11:38 pm | Bear

Fortress is not profitable and unable to scale it's way to profitability because the cost of revenue is more than the revenue generated. A $50+ million market cap cannot be supported even if they manage to balance revenue with expenses. And to top it off, they recently added $25 million in convertible debt. This will result in massive dilution.


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