New
York
|
0-28666
|
14-1702188
|
(State or other
jurisdiction of incorporation)
|
(Commission File
Number)
|
(IRS Employer
Identification Number)
|
122
Smith Road, Kinderhook, NY
|
12106
|
(Address of
principal executive offices)
|
(Zip
Code)
|
Title of each
class
|
Trading
Symbol(s)
|
Name of each
exchange on which registered
|
Common
|
ABMC
|
OTC
|
|
AMERICAN BIO MEDICA
CORPORATION (Registrant)
|
|
|
|
|
|
|
Date:
April 15, 2021
|
By:
|
/s/ Melissa A.
Waterhouse
|
|
|
|
Melissa A. Waterhouse |
|
|
|
Chief Executive
Officer (Principal Executive Officer)
Principal Financial
Officer Title
|
|
|
Three Months
Ended
|
Year
Ended
|
||
|
December
31,
|
December
31,
|
||
|
2020
|
2019
|
2020
|
2019
|
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
|
|
|
|
|
|
Net
sales
|
$777,000
|
$880,000
|
$4,147,000
|
$3,655,000
|
Cost
of goods sold
|
547,000
|
666,000
|
2,909,000
|
2,471,000
|
Gross
profit
|
230,000
|
214,000
|
1,238,000
|
1,184,000
|
Operating
expenses:
|
|
|
|
|
Research
and development
|
13,000
|
20,000
|
90,000
|
82,000
|
Selling
and marketing
|
85,000
|
109,000
|
493,000
|
459,000
|
General
and administrative
|
325,000
|
268,000
|
1,276,000
|
1,236,000
|
Total
operating expenses
|
423,000
|
397,000
|
1,859,000
|
1,777,000
|
|
|
|
|
|
Operating
loss
|
(193,000)
|
(183,000)
|
(621,000)
|
(593,000)
|
|
|
|
|
|
Other
income/(expense) - net
|
(40,000)
|
(65,000)
|
(173,000)
|
(93,000)
|
|
|
|
|
|
Net
loss before tax
|
(233,000)
|
(248,000)
|
(794,000)
|
(686,000)
|
|
|
|
|
|
Income
tax expense
|
0
|
7,000
|
(2,000)
|
5,000
|
|
|
|
|
|
Net
loss
|
(233,000)
|
(241,000)
|
(796,000)
|
(681,000)
|
|
|
|
|
|
Basic
& diluted loss per common share
|
$(0.01)
|
$(0.01)
|
$(0.02)
|
$(0.02)
|
|
|
|
|
|
Basic
weighted average shares outstanding
|
36,390,976
|
29,211,454
|
35,558,105
|
32,526,669
|
Diluted
weighted average shares outstanding
|
36,390,976
|
29,211,454
|
35,558,105
|
32,526,669
|
|
December
31,
|
December
31,
|
|
2020
(unaudited)
|
2019
|
ASSETS
|
|
|
Current
Assets
|
|
|
Cash
and cash equivalents
|
$98,000
|
$4,000
|
Accounts
receivable, net of allowance for doubtful accounts of $22,000 at
December 31, 2020 and $34,000 at December 31, 2019
|
407,000
|
370,000
|
Inventory,
net of allowance of $279,000 at December 31, 2020 and $291,000 at
December 31, 2019
|
536,000
|
810,000
|
Prepaid
expenses and other current assets
|
104,000
|
6,000
|
Right
of Use Asset – Operating Leases
|
35,000
|
34,000
|
Total
current assets
|
1,180,000
|
1,224,000
|
Property,
plant and equipment, net
|
576,000
|
644,000
|
Patents,
net
|
108,000
|
116,000
|
Right
of Use Asset – Operating Leases
|
41,000
|
73,000
|
Other
assets
|
21,000
|
21,000
|
Total
assets
|
$1,926,000
|
$2,078,000
|
|
|
|
LIABILITIES
AND STOCKHOLDERS' EQUITY
|
|
|
Current
liabilities
|
|
|
Accounts
payable
|
$577,000
|
$652,000
|
Accrued
expenses and other current liabilities
|
620,000
|
518,000
|
Right
of Use Liability – Operating Leases
|
33,000
|
34,000
|
Wages
payable
|
107,000
|
104,000
|
Line
of credit
|
277,000
|
337,000
|
PPP
Loan
|
332,000
|
0
|
Current
portion of long-term debt, net of deferred finance
costs
|
75,000
|
42,000
|
Total
current liabilities
|
2,021,000
|
1,687,000
|
Long term
debt, net of current portion & deferred finance
costs
|
1,120,000
|
1,108,000
|
Right
of Use Liability – Operating Leases
|
41,000
|
73,000
|
Total
liabilities
|
3,182,000
|
2,868,000
|
|
|
|
Stockholders'
Equity:
|
|
|
Common
stock
|
377,000
|
327,000
|
Additional
paid-in capital
|
21,717,000
|
21,437,000
|
Accumulated
deficit
|
(23,350,000)
|
(22,554,000)
|
Total
stockholders’ equity
|
(1,256,000)
|
(790,000)
|
Total
liabilities and stockholders' equity
|
$1,926,000
|
$2,078,000
|
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