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Business Editors
KINDERHOOK, N.Y.--(BUSINESS WIRE)--May 12, 2005
American Bio Medica Corporation (NASDAQ:ABMCE) announced today that it received notice today from the Nasdaq Listing Qualifications Hearings Division that, because the Company is no longer delinquent with respect to its filings, it will continue to be listed on The Nasdaq SmallCap Market. As a result, the letter "E" will be removed from ABMC's stock ticker symbols effective at the opening of business on Friday, May 14, 2005, and the previously scheduled hearing on ABMC's compliance will be cancelled.
ABMC had previously announced that, due to the delayed filing of its Form 10-KSB for the fiscal year ended December 31, 2005, it had received notification from Nasdaq that it was not in compliance with Nasdaq's continued listing requirements. Subsequently, on May 10, 2005, ABMC filed its Form 10-KSB with the Securities and Exchange Commission.
About American Bio Medica Corporation
American Bio Medica Corporation is a biotechnology company that develops manufactures and markets accurate, cost-effective immunoassay diagnostic test kits, including some of the world's most effective 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(R), Rapid One(R), Rapid Tec(R) and Rapid Tec Cup(TM) products test for the presence or absence of drugs of abuse in urine, while OralStat(R) tests for the presence or absence of drugs of abuse in saliva. ABMC has been named among the 2005 Deloitte & Touche Technology Fast 500, a listing of the fastest-growing technology companies in North America.
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, the following: continued acceptance of the Company's products, increased levels of competition in our industry, the acceptance of new products, inherent risks associated with product development and intellectual property rights, the Company's dependence on key personnel, third party sales and suppliers. 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-KSB for the fiscal year ended December 31, 2005, and quarterly reports on Form 10-QSB 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.
COPYRIGHT 2005 Business Wire
COPYRIGHT 2005 Gale Group
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