American Bio Medica Announces Results of Voting At Annual Meeting of Shareholders.Business Editors KINDERHOOK, N.Y.--(BUSINESS WIRE)--Oct. 3, 2001 American Bio Medica medica (māˑ·dē·k Corp. (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 the results of issues brought to a vote at the Company's annual meeting of shareholders held on October 2, 2001. The Company said that shareholders overwhelmingly re-elected all of the five nominees for director, with all nominees receiving 95% or more of the votes. The proposal to approve the Fiscal 2001 Nonstatutory Stock Option Plan and the proposal to approve increasing the number of shares the Company is authorized to issue were also approved, with more than 90% of the votes cast at the meeting voting in favor of both of the proposals. ABMC also held an open discussion about the company's strategic focus and recent financial performance. ABMC chairman and chief executive officer Robert L. Aromando, Jr. noted that the efforts of the executive team are centered on revenue growth, profitability and increased awareness of the company and its products. He also noted that the Company is still committed to achieving its $13 million revenue target for fiscal 2002, and is pleased with preliminary performance indicators from its direct sales force and key distributors. 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. ABMC's Drug Detector(TM) identifies minute traces of illegal drugs on surfaces, while the company's Rapid Drug Screen(TM) tests 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, intellectual property rights and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
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