ABMC Regains Compliance With Nasdaq Marketplace Rules.KINDERHOOK, N.Y. -- On April 27, 2005, the Company had reported in a Current Report on Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. that the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. informed the Company that the closing bid of the Company's common stock had closed for the last thirty consecutive business days below the minimum $1.00 per share requirement for a period of 30 consecutive business days required for continued inclusion under Marketplace Rule 4310(c)(4). In a letter dated September 30, 2005, the Nasdaq Stock Market informed the Company that the closing bid of the Company's common stock had been at $1.00 per share or greater for at least 10 consecutive business days and that the Company had therefore regained compliance with Marketplace Rule 4310(c)(4) and that this matter is now closed. About American Bio Medica medica (māˑ·dē·k Corporation American Bio Medica Corporation is a biotechnology company that develops, manufactures and markets accurate, cost-effective immunoassay Immunoassay An assay that quantifies antigen or antibody by immunochemical means. The antigen can be a relatively simple substance such as a drug, or a complex one such as a protein or a virus. 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), RDS (1) (Remote Data Services) A set of programming interfaces from Microsoft that enables users to update data on the Internet or intranets from their ActiveX-enabled browser. (R) InCup(TM) and Rapid TOX TOX Total Organic Halides TOX Total Organic Halogens TOX Toxxulia Forest (Everquest) TOX Thermal Oxide TOX Tetradichlorooxylene (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 oral fluids. ABMC's Rapid Reader(TM) is a compact, portable device that, when connected to any computer, interprets the results of an ABMC ABMC American Battle Monuments Commission ABMC Alexian Brothers Medical Center (Illinois) ABMC Aviation Battle Management Concept ABMC Arrowbear Music Camp (California) 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . 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, 2004, 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. |
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