-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, II38ffVXBuv/p15hybxWGmcG2sS5JNYCNvIWNEEodPhMDnF8zgz22YXAjrcsYA7y Q4tI2+UGfMUYKlBRpkBplw== 0001144204-09-046294.txt : 20090828 0001144204-09-046294.hdr.sgml : 20090828 20090828170535 ACCESSION NUMBER: 0001144204-09-046294 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090825 ITEM INFORMATION: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090828 DATE AS OF CHANGE: 20090828 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN BIO MEDICA CORP CENTRAL INDEX KEY: 0000896747 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 141702188 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-28666 FILM NUMBER: 091043868 BUSINESS ADDRESS: STREET 1: 122 SMITH ROAD CITY: KINDERHOOK STATE: NY ZIP: 12106 BUSINESS PHONE: 5187588158 MAIL ADDRESS: STREET 1: 122 SMITH ROAD CITY: KINDERHOOK STATE: NY ZIP: 12106 8-K 1 v159271_8k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
 
Date of report (Date of earliest event reported):  August 25, 2009
 
AMERICAN BIO MEDICA CORPORATION
(Exact Name of Registrant as Specified in its Charter)

New York
0-28666
14-1702188
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification Number)
     
122 Smith Road, Kinderhook, NY
 
12106
Address of principal executive offices
 
Zip Code
 
Registrant’s telephone number, including area code:  518-758-8158
 
Not applicable
(Former name or former address, if changed since last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
¨    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
¨    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
¨    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
¨    Pre-commencement communications pursuant to Rule 13c-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 

 

ITEM 3.01.  NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD; TRANSFER OF LISTING.

On August 25, 2009, American Bio Medica Corporation (the “Company”) received a letter from the NASDAQ Stock Market (“NASDAQ”) stating that since NASDAQ’s reinstatement of the minimum bid price listing requirement on August 3, 2009, the bid price of the Company’s common stock continued to close at less than $1.00 per share. Therefore, the Company has not regained compliance with Listing Rule 5550(a)(2) (the “Rule”), and NASDAQ has determined to delist the Company’s securities from the NASDAQ Capital Market.
 
Accordingly, unless the Company requests a hearing to appeal NASDAQ’s determination by 4:00 p.m. (ET) on September 1, 2009, trading of the Company’s common stock will be suspended at the opening of business on September 3, 2009, and a Form 25-NSE will be filed with the Securities and Exchange Commission (“SEC”), which will remove the Company’s securities from listing and registration on NASDAQ. A hearing request would stay the suspension of the Company’s securities and the filing of the Form 25-NSE pending the determination of the appeal.
 
If the Company does not appeal NASDAQ’s determination, the Company’s securities may become eligible to trade on the OTC Bulletin Board or “Pink Sheets” if a market maker makes an application to register in and quote the security in accordance with SEC Rule 15c2-11, and such application (a “Form 211”) is cleared. Only a market maker, not the Company, may file a Form 211.
 
As of the date of this report, the Company does not intend to appeal NASDAQ’s determination and, based on discussions with several market makers, the Company expects an appropriate market maker to file a Form 211 to register in and quote the Company’s securities on the OTC Bulletin Board.
 
Item 9.01
Financial Statements and Exhibits
   
(d)
Exhibits
   
 
The following exhibit is filed with this report on Form 8-K
   
 
Exhibit 99.1 – American Bio Medica Corporation Press Release issued August 28, 2009

 
 

 

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
AMERICAN BIO MEDICA CORPORATION
(Registrant)
       
 
By:
/s/ Melissa A. Waterhouse  
    Melissa A. Waterhouse
   
Vice President & Chief Compliance Officer
Corporate Secretary
       
Dated: August 28, 2009

 
 

 
EX-99.1 2 v159271_ex99-1.htm
EXHIBIT 99.1
 
 
FOR IMMEDIATE RELEASE:
 
ABMC RECEIVES NASDAQ DELISTING NOTICE
 
KINDERHOOK, NY, August 28, 2009 American Bio Medica Corporation (NASDAQ:ABMC) announced today that, on August 25, 2009, it received a delisting notice from the NASDAQ Stock Market, for failure to regain compliance with the minimum bid price requirement pursuant to Listing Rule 5550(a)(2).
 
The Company can request a hearing to appeal NASDAQ’s determination by 4:00 p.m. (ET) on September 1, 2009, however, if the Company does not request a hearing, trading of the Company’s common stock will be suspended at the opening of business on September 3, 2009, and a Form 25-NSE will be filed with the Securities and Exchange Commission (“SEC”), which will remove the Company’s securities from listing and registration on the NASDAQ Capital Market.
 
Although the Company meets all other continued listing requirements to maintain its position on the NASDAQ Capital Market, the Company does not currently expect to challenge the delisting. Based upon discussions with several market makers, the Company believes that a market maker will make an application to the OTC Bulletin Board, and its common stock will be eligible for listing on the OTC Bulletin Board following its delisting from the Nasdaq Capital Market.
 
For more information on American Bio Medica Corporation or its products, please visit www.abmc.com.
 
About American Bio Medica Corporation
 
American Bio Medica Corporation is a biotechnology company that develops, manufactures and markets accurate, cost-effective immunoassay diagnostic test kits, including some of the world’s most effective point of collection tests for drugs of abuse. The Company and its worldwide distribution network target the workplace, government, corrections, clinical and educational markets. ABMC’s Rapid Drug Screen®, Rapid ONE®, Rapid TEC®, RDS® InCup®, Rapid TOX® and Rapid TOX Cup® II products test for the presence or absence of drugs of abuse in urine, while OralStat® and Rapid STAT™ tests for the presence or absence of drugs of abuse in oral fluids.  ABMC’s Rapid Reader® is a compact, portable device that, when connected to any computer, interprets the results of an ABMC drug screen, and sends the results to a data management system, enabling the test administrator to easily manage their drug testing program.
 
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, product development, compliance with regulatory requirements, intellectual property rights, our dependence on key personnel, third party sales and suppliers, our non-compliance with the continued listing requirements of the Nasdaq Stock Market, our eligibility to trade on the OTC Bulletin Board, 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 fiscal year ended December 31, 2008, 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.
 
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