ABMC Phone: 800-227-1243


Drug Tests 100% Manufactured in the USA

ABMC Reports First Quarter 2016 Results

KINDERHOOK, N.Y. - May 16, 2016 - American Bio Medica Corporation (OTCPK: ABMC) today announced financial results for the three months ended March 31, 2016.

Chief Executive Officer Melissa A. Waterhouse stated, "We are continuing to keep expenses in line with sales. Q1 did have increased R&D expenses related to efforts we are taking to obtain a marketing clearance from FDA for one of our urine based products; costs in other expense divisions remained stable or declined. Sales did decline in the first quarter 2016, however, the decline was minimal. Our efforts to diversify our revenues are continuing as we move forward with new business relationships closed at the end of the first quarter. And finally, net income was positively impacted in the first quarter 2016 by a final payment due under a tech transfer arrangement with one of our contract-manufacturing customers."

Financial Highlights

For more information on ABMC or its drug testing products, please visit www.abmc.com.

About American Bio Medica Corporation

American Bio Medica Corporation manufactures and markets accurate, cost-effective immunoassay test kits, primarily 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®, RDS® InCup®, Rapid TOX® and Rapid TOX Cup® II test for the presence or absence of drugs of abuse in urine, while OralStat® 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, including but not limited to our ability to obtain marketing clearance on our OralStat product, intellectual property rights, our dependence on key personnel, third party sales and suppliers, trading in our common shares may be subject to "penny stock" rules, 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 year ended December 31, 2015, 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.

(financial tables follow)

Condensed Statements of Operations
For the three For the three
months ended months ended
March 31, 2016 March 31, 2015
Net sales $ 1,470,000 $ 1,502,000
Cost of goods sold 840,000 802,000
Gross profit 630,000 700,000
Operating expenses:
Research and development 54,000 29,000
Selling and marketing 270,000 299,000
General and administrative 397,000 425,000
Total operating expenses 721,000 753,000
Operating income / (loss) (91,000) (53,000)
Other income/ (expense) 93,000 8,000
Net income / (loss) before tax 2,000 (45,000)
Income tax expense (1,000) 0
Net income / (loss) $ 1,000 $ (45,000)
Basic & diluted income / (loss) per common share $ 0.00 $ (0.00)
Weighted average shares outstanding – basic 26,610,426 24,589,340
Weighted average shares outstanding – diluted 26,751,259 24,589,340
American Bio Medica Corporation
Condensed Balance Sheets
March 31, December 31,


Current Assets
Cash and cash equivalents $ 97,000 $


Accounts receivable, net of allowance for doubtful accounts of
$50,000 at March 31, 2016 and December 31, 2015



Inventory, net of allowance of $453,000 at March 31, 2016 and
$432,000 at December 31, 2015



Prepaid expenses and other current assets 90,000 40,000
Total current assets 2,597,000 2,616,000
Property, plant and equipment, net 887,000 910,000
Patents, net 69,000 67,000
Other assets 14,000 14,000
Deferred finance costs, net 71,000 79,000
Total assets $ 3,638,000 $


Current liabilities
Accounts payable





Accrued expenses and other current liabilities 215,000 212,000
Wages payable 287,000 292,000
Line of credit 621,000 777,000
Current portion of long-term debt 75,000 75,000
Total current liabilities 1,668,000 1,729,000
Other liabilities 38,000 38,000
Related party note 124,000 124,000
Long-term debt, net of current portion 683,000 834,000
Total liabilities 2,513,000 2,725,000
Stockholders’ Equity:
Common stock 272,000 260,000
Additional paid-in capital 20,807,000 20,656,000
Accumulated deficit (19,954,000) (19,955,000)
Total stockholders’ equity 1,125,000 961,000
Total liabilities and stockholders’ equity $ 3,638,000 $


American Bio Medica Corporation
Melissa A. Waterhouse
Chief Executive Officer
(800) 227-1243, Ext 107