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)
|
Title of each class
|
|
Trading Symbol(s)
|
|
Name of each exchange on which registered
|
Common
|
|
ABMC
|
|
Over-the-counter-Pink Sheets
|
|
AMERICAN BIO MEDICA
CORPORATION (Registrant)
|
|
|
|
|
|
|
Dated: June 26,
2020
|
By:
|
/s/ Melissa A.
Waterhouse
|
|
|
|
Melissa A. Waterhouse |
|
|
|
Chief Executive
Officer (Principal Executive Officer)
Principal Financial
Officer
|
|
|
Three Months
Ended
|
Year
Ended
|
||
|
December
31,
|
December
31,
|
||
|
2019
|
2018
|
2019
|
2018
|
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
|
|
|
|
|
|
Net
sales
|
$880,000
|
$884,000
|
$3,655,000
|
$3,872,000
|
Cost of goods
sold
|
666,000
|
768,000
|
2,471,000
|
2,584,000
|
Gross
profit
|
214,000
|
116,000
|
1,184,000
|
1,288,000
|
Operating
expenses:
|
|
|
|
|
Research
and development
|
20,000
|
29,000
|
82,000
|
93,000
|
Selling
and marketing
|
109,000
|
111,000
|
459,000
|
545,000
|
General
and administrative
|
268,000
|
324,000
|
1,236,000
|
1,412,000
|
Total
operating expenses
|
397,000
|
464,000
|
1,777,000
|
2,050,000
|
|
|
|
|
|
Operating
loss
|
(183,000)
|
(348,000)
|
(593,000)
|
(762,000)
|
|
|
|
|
|
Other
income/(expense) - net
|
(65,000)
|
(64,000)
|
(93,000)
|
(264,000)
|
|
|
|
|
|
Net loss before
tax
|
(248,000)
|
(412,000)
|
(686,000)
|
(1,026,000)
|
|
|
|
|
|
Income tax
expense
|
8,000
|
(1,000)
|
5,000
|
(2,000)
|
|
|
|
|
|
Net
loss
|
(240,000)
|
(413,000)
|
(681,000)
|
(1,028,000)
|
|
|
|
|
|
Basic & diluted
loss per common share
|
$(0.01)
|
$(0.01)
|
$(0.02)
|
$(0.03)
|
|
|
|
|
|
Basic weighted
average shares outstanding
|
32,667,757
|
29,211,454
|
32,526,669
|
30,115,063
|
Diluted weighted
average shares outstanding
|
32,667,757
|
29,211,454
|
32,526,669
|
30,115,063
|
|
December
31,
2019
(unaudited)
|
December
31,
2018
|
ASSETS
|
|
|
Current
Assets
|
|
|
Cash and cash
equivalents
|
$4,000
|
$113,000
|
Accounts
receivable, net of allowance for doubtful accounts of $34,000 at
December 31, 2019 and $36,000 at December 31, 2018
|
370,000
|
452,000
|
Inventory, net of
allowance of $291,000 at December 31, 2019 and $268,000 at December
31, 2018
|
810,000
|
1,019,000
|
Prepaid expenses
and other current assets
|
6,000
|
29,000
|
Right of Use Asset
– Operating Leases
|
37,000
|
0
|
Total current
assets
|
1,227,000
|
1,613,000
|
Property, plant and
equipment, net
|
644,000
|
718,000
|
Patents,
net
|
116,000
|
123,000
|
Right of Use Asset
– Operating Leases
|
73,000
|
0
|
Other
assets
|
21,000
|
21,000
|
Total
assets
|
$2,078,000
|
$2,475,000
|
|
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
|
Current
liabilities
|
|
|
Accounts
payable
|
$652,000
|
$359,000
|
Accrued expenses
and other current liabilities
|
543,000
|
449,000
|
Right of Use
Liability – Operating Leases
|
34,000
|
0
|
Wages
payable
|
104,000
|
278,000
|
Line of
credit
|
337,000
|
502,000
|
Current portion of
long-term debt, net of deferred finance costs
|
17,000
|
237,000
|
Total current
liabilities
|
1,687,000
|
1,825,000
|
Long
term debt, net of current portion & deferred finance
costs
|
1,108,000
|
796,000
|
Right
of Use Liability – Operating Leases
|
73,000
|
0
|
Total
liabilities
|
2,868,000
|
2,621,000
|
|
|
|
Stockholders'
Equity:
|
|
|
Common
stock
|
327,000
|
323,000
|
Additional paid-in
capital
|
21,437,000
|
21,404,000
|
Accumulated
deficit
|
(22,554,000)
|
(21,873,000)
|
Total
stockholders’ equity
|
(790,000)
|
(146,000)
|
Total liabilities
and stockholders' equity
|
$2,078,000
|
$2,475,000
|