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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): September 15, 1999
AMERICAN BIO MEDICA CORPORATION
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(Exact Name of Registrant as Specified in its Charter)
New York 0-28666 14-1702188
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(State or Other (Commission File Number) (IRS Employer
Jurisdiction of Identification Number)
Incorporation)
122 Smith Road, Kinderhook, NY 12106
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (800) 227-1243
300 Fairview Avenue, Hudson, NY 12534
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS
On September 15, 1999, the Court of Special Appeals in Maryland ruled
in favor of the Company and reversed a Maryland circuit court's ruling that the
estate of Dr. Robert Friedenberg was entitled to 5,907,154 common shares of the
Company. The case was remanded to the circuit court with directions to enter a
judgement for the Company. See the attached press release filed as Exhibit 99.1
which is incorporated herein by reference. Also see the more complete
description of the "Friedenberg Litigation" included in Item 1 of Part II of the
Company's Form 10-QSB for the quarter ended July 31, 1999.
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ITEM 7. EXHIBITS
(c) Exhibits
99.1 American Bio Medica Corporation press release dated 9-16-99
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AMERICAN BIO MEDICA CORPORATION
(Registrant)
Dated: September 16, 1999 By: /s/ Stan Cipkowski
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Stan Cipkowski,
President and Principal
Executive Officer
By: /s/ John F. Murray
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John F. Murray,
Treasurer and Principal
Financial Officer
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[AMERICAN BIO MEDICA LOGO]
Contact: Exhibit 99.1
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Stan Cipkowski Tel: (800) 227-1243
CEO & Chairman of the Board Fax: (518) 758-8171
Melissa Decker Email: [email protected]
Mgr. Inv. Relations & Corp. Communications Web: www.americanbiomedica.com
FOR IMMEDIATE RELEASE:
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AMERICAN BIO MEDICA WINS FRIEDENBERG APPEAL
KINDERHOOK, NY - SEPTEMBER 16, 1999: American Bio Medica Corp. (NASDAQ: ABMC)
announced today that its successful appeal to the Court of Special Appeals of
Maryland resulted in the reversal of a 1998 decision by a trial court judge to
award the Robert Friedenberg estate 5,907,514 common shares of ABMC stock.
The Court agreed that the trial judge erred in awarding the ABMC shares to
Friedenberg's estate. The Company explained that Friedenberg was to receive the
shares from ABMC in exchange for providing to American Bio Medica certain
technology, which he never delivered. A jury earlier decided in the Company's
favor on claims of breach of contract and fraud. Thus, the Company refused to
issue stock to Friedenberg.
"Needless to say, we are very excited to report the court's decision and pleased
to have the appeal finally behind us," stated ABMC Chairman and CEO Stan
Cipkowski. "The positive results of this outcome are clear: our litigation risk
is reduced substantially and our bottom line will be impacted positively."
American Bio Medica Corporation develops, manufactures, and markets inexpensive,
accurate, on-site drugs of abuse diagnostic kits and support services worldwide.
The Company's global distributors target the workplace, clinical,
rehabilitation, physicians, corrections, and educational markets. ABMC's Rapid
Drug Screen(TM) is proven to correlate 100% with the standard laboratory
screening test.
Forward-looking statements in this release are made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Reform Act 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 report filed with the Securities and Exchange
Commission.
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