New
York
|
0-28666
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14-1702188
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(State or
other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification Number)
|
122 Smith Road,
Kinderhook, NY
|
12106
|
(Address of
principal executive offices)
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(Zip
Code)
|
|
AMERICAN BIO MEDICA
CORPORATION (Registrant)
|
|
|
|
|
|
|
Date:
April
16, 2019
|
By:
|
/s/ Melissa A.
Waterhouse
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|
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Melissa A.
Waterhouse
|
|
|
|
Chief Executive
Officer (Principal Executive Officer)
Principal
Financial Officer
|
|
Contacts:
Melissa
A. Waterhouse
Chief
Executive Officer
(800)
227-1243, Ext 107
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|
Three Months Ended
|
Year Ended
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||
|
December 31,
|
December 31,
|
||
|
2018
|
2017
|
2018
|
2017
|
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
|
|
|
|
|
|
Net
sales
|
$884,000
|
$939,000
|
$3,872,000
|
$4,914,000
|
Cost
of goods sold
|
768,000
|
638,000
|
2,584,000
|
2,917,000
|
Gross
profit
|
116,000
|
301,000
|
1,288,000
|
1,997,000
|
Operating
expenses:
|
|
|
|
|
Research
and development
|
29,000
|
23,000
|
93,000
|
117,000
|
Selling
and marketing
|
111,000
|
149,000
|
545,000
|
680,000
|
General
and administrative
|
324,000
|
357,000
|
1,412,000
|
1,511,000
|
Total
operating expenses
|
464,000
|
529,000
|
2,050,000
|
2,308,000
|
|
|
|
|
|
Operating
loss
|
(348,000)
|
(228,000)
|
(762,000)
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(311,000)
|
|
|
|
|
|
Other
income/(expense) - net
|
(64,000)
|
(63,000)
|
(264,000)
|
(234,000)
|
|
|
|
|
|
Net
loss before tax
|
(412,000)
|
(291,000)
|
(1,026,000)
|
(545,000)
|
|
|
|
|
|
Income
tax expense
|
(1,000)
|
(1,000)
|
(2,000)
|
0
|
|
|
|
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|
Net
loss
|
(413,000)
|
(292,000)
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(1,028,000)
|
(545,000)
|
|
|
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Basic
& diluted loss per common share
|
$(0.01)
|
$(0.01)
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$(0.03)
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$(0.02)
|
|
|
|
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Basic
weighted average shares outstanding
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30,451,758
|
29,211,454
|
30,115,063
|
29,211,454
|
Diluted
weighted average shares outstanding
|
30,451,758
|
29,211,454
|
30,115,062
|
29,211,454
|
|
December 31,
|
December 31,
|
|
2018
|
2017
|
|
(unaudited)
|
|
ASSETS
|
|
|
Current
Assets
|
|
|
Cash
and cash equivalents
|
$113,000
|
$36,000
|
Accounts
receivable, net of allowance for doubtful accounts of $36,000 at
December 31, 2018 and $52,000 at December 31, 2017
|
452,000
|
348,000
|
Inventory,
net of allowance of $268,000 at December 31, 2018 and $500,000 at
December 31, 2017
|
1,019,000
|
1,473,000
|
Prepaid
expenses and other current assets
|
29,000
|
97,000
|
Total
current assets
|
1,613,000
|
1,954,000
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Property,
plant and equipment, net
|
718,000
|
792,000
|
Patents,
net
|
123,000
|
109,000
|
Other
assets
|
21,000
|
21,000
|
Deferred
finance costs – line of credit, net
|
0
|
15,000
|
Total
assets
|
$2,475,000
|
$2,891,000
|
|
|
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LIABILITIES
AND STOCKHOLDERS' EQUITY
|
|
|
Current
liabilities
|
|
|
Accounts
payable
|
$359,000
|
$374,000
|
Accrued
expenses and other current liabilities
|
449,000
|
311,000
|
Wages
payable
|
278,000
|
259,000
|
Line
of credit
|
502,000
|
446,000
|
Current
portion of long-term debt
|
237,000
|
87,000
|
Total
current liabilities
|
1,825,000
|
1,477,000
|
Other
liabilities/debt
|
7,000
|
19,000
|
Long term debt, net
of current portion & deferred finance costs
|
789,000
|
772,000
|
Total
liabilities
|
2,621,000
|
2,268,000
|
|
|
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Stockholders'
Equity:
|
|
|
Common
stock
|
323,000
|
298,000
|
Additional
paid-in capital
|
21,404,000
|
21,170,000
|
Accumulated
deficit
|
(21,873,000)
|
(20,845,000)
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Total
stockholders’ equity
|
(146,000)
|
623,000
|
Total
liabilities and stockholders' equity
|
$2,475,000
|
$2,891,000
|
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