Kinderhook, N.Y., December 2, 2020 – American Bio Medica Corporation (OTCQB: ABMC) today announced their common shares were approved for listing on OTC Markets Group Inc.’s OTCQB® Venture Market (“OTCQB”). The common shares will continue to trade under the symbol “ABMC” and trading on the OTCQB will be effective at the opening of market on December 3, 2020.
OTCQB is a venture market operated by the OTC Markets Group, Inc. To be eligible for quotation on the OTCQB, companies must be current in their reporting and undergo an annual verification and management certification process. Companies must also meet a minimum bid price test and other financial conditions. OTCQB is recognized by the U.S. Securities and Exchange Commission as an established public market and provides current public information to investors that need to analyze, value, and trade securities.
Chief Executive Officer Melissa A. Waterhouse stated, “Uplisting to the OTCQB will provide ABMC with greater market exposure, increase our visibility within the investment community and further broaden our shareholder base. Although our securities have been quoted on the OTC Pink Sheets for the last several years, ABMC has always been a fully reporting, transparent public company. The completion of this uplisting is just another step in ABMC’s path forward to long-term success.”
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, and distributes a rapid test to detect Covid-19 antibodies and a RT-PCR test to detect Covid-19. The Company also currently manufactures (on a contract basis) tests to detect respiratory syncytial virus (RSV) and malaria and, with the ability to manufacture tests for many other medical conditions, viruses and diseases in its FDA registered and ISO certified facilities.
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, future sales and profit levels of the rapid antibody test and RT-PCR test for Covid-19 that we are distributing, product development, compliance with regulatory requirements, including but not limited to our ability to obtain marketing clearance on our product for our intended markets, 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, 2019, 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.