AMBC Wins Large Contract With Dominican Republic; Rapid Drug Screen--TM-- Will Be Used to Test 250,000 Dominican Applicants for Gun Permits.Business Editors KINDERHOOK, N.Y.--(BUSINESS WIRE)--May 30, 2001 American Bio Medica medica (māˑ·dē·k Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ABMC ABMC American Battle Monuments Commission ABMC Alexian Brothers Medical Center (Illinois) ABMC Aviation Battle Management Concept ABMC Arrowbear Music Camp (California) ) today announced that it and its distributor partner, Vanter S.A., had been awarded a broad-scale, two-year drug testing contract by the government of the Dominican Republic Dominican Republic (dəmĭn`ĭkən), republic (2005 est. pop. 8,950,000), 18,700 sq mi (48,442 sq km), West Indies, on the eastern two thirds of the island of Hispaniola. The capital and largest city is Santo Domingo. . Under the agreement, ABMC's Rapid Drug Screen will be used to drug test all private citizens of the Dominican Republic who apply for weapons permits. The progressive program is administered by the Secretary of the Dominican Republic to ensure that guns are not in the hands of individuals with chronic drug abuse problems. As many as 250,000 applicants are tested each year in order to obtain or renew permits. "This is an important contract because it involves high volume of product, and it represents a further strengthening of ABMC's international presence and distributor involvement," noted ABMC chief executive officer Robert L. Aromando, Jr. "It also underscores the flexibility and reliability of Rapid Drug Screen as an anti-crime tool. The program will be able to handle as many as 1,000 or more registrations per day, involving drug tests throughout the country." The program will commence in June. Under the agreement, ABMC will provide on-site drug tests to Vanter, which will then be responsible for test distribution and personnel training within the Dominican Republic. About American Bio Medica Corporation American Bio Medica Corporation develops, manufactures and markets inexpensive, accurate, on-site drugs-of-abuse diagnostic kits, sprays and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services worldwide. The company's global distributors target the workplace, physicians, corrections, clinical, and educational markets. In addition to Drug Detector(TM), ABMC markets Rapid Drug Screen, which is designed to test individuals and is proven to correlate greater than 99% with the standard laboratory screening test. 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. in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, intellectual property rights and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion