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Subsequent Events
6 Months Ended
Jun. 30, 2013
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
Note G – Subsequent Events
 
Litigation
 
On August 8, 2013, court-ordered mediation was held related to American Bio Medica Corporation v Martin R. Gould (“Gould”), Jacqueline Gale (“Gale”), Advanced Diagnosticum Products, Inc. (“ADPI”) and Biosure, Inc. (“Biosure”), resulting in settlement between all parties. All parties agree that the matter was resolved in order to avoid the costs and uncertainties of litigation, with no admissions of guilt from any of the parties involved. All parties were released discharged from any and all claims, injuries, rights, liabilities and causes of action of every nature and description whatsoever, both statutory and common law, known or unknown, that spring from the facts alleged or that could have been alleged either as claims, cross claims, third party claims, or affirmative defenses in the litigation. Under the terms of the settlement, each party has agreed not to disclose to any third parties the terms and conditions of the settlement agreement.
 
Imperium Commercial Finance, LLC
 
As disclosed in Part I; Item 1; Note E, as of the date of this report, we are not in compliance with the EBITDA requirement for the quarter ended June 30, 2013 (to be measured upon the filing of this Form 10-Q) under the Imperium LSA. This non-compliance constitutes an event of default under our Imperium Line of Credit, and Imperium can increase our interest rate by 4% for as long as the event of default occurs. Imperium’s other remedies include, but are not limited to, termination or suspension of Imperium’s obligation to make further advances to the Company, declaration of all amounts owed to Imperium due and payable. While the increase in interest rate, given our current advances under the Imperium Line of Credit would not be material, if Imperium were to suspend or terminate further advances, or declare all amounts due and payable, this would have a material adverse effect on our business and negatively impact our ability to continue operations. We are currently in discussions with Imperium related to the EBITDA non-compliance and any actions they may take.
 
Debenture Financing
 
The Series A Debentures and the CAM bridge loan (both subordinated, unsecured debt) matured on August 1, 2013. The Company is currently in discussions with the Placement Agent, Cantone Research, Inc. related to further extension or refinance of the Series A Debentures and the CAM Bridge Loan.