American Bio Medica Corporation, also known as ABMC, is one of the leaders in developing, producing, and marketing kits for testing the use of drugs of abuse, and they have recently developed kits that can be used for rapid COVID-19 testing. The company is known as the market leader in innovation and provides the customers with superb after-sales support.
The aim of the company is to produce easy solutions for testing the blood for evidence of the use of drugs like buprenorphine, fentanyl, oxycodone, tramadol, ketamine, K2 (spice), methadone, methamphetamine, and more. For more details on the products and services of ABMC, you can visit their website here.
OTCQB – A BIG LEAP FOR ANY DEVELOPING COMPANY
OTCQB is the middle level of OTC MARKETS. It is an important milestone to be achieved by any evolving company. In order to be a part of OTCQB, the company in question must meet the minimum requirements set by OTC Markets Group Inc. These requirements include live reporting of the company’s financial condition and must comply with the verification and management standards set by OTC. Other requirements include a minimum bid price test and further financial requirements.
OTCBQ is an entity required by the Securities and Exchange Commission of the United States and a reputable public market, which makes live information available to the investors so that they can make well-informed decisions. All-in-all, being listed on the OTCBQ list means that an evolving company can get more investment and gain more trust from the investors. However, it must be noted that the companies listed here are not large enough to be listed on the major, more widely known stock markets. But this is still totally legit.
AMBC MAKES IT TO OTCQB
American Bio Media Corporation announced on December 2, 2020, that their common shares got the approval to be listed on the OTCBQ Venture Market, which is backed by the OTC Markets Group Inc. The shares of the company are still being traded under the AMBC name but now regulated by OTC, following December 3.
Talking to the media about this significant milestone being achieved by the company, the Chief Executive Officer of American Bio Medica Corporation said that making it to the OYCBQ will give AMBC more market exposure by increasing the visibility of the company for potential investors, creating a whole lot of new and better opportunities for the company. She added that this will also greatly increase the shareholder base of the company.
Even though the securities of AMBC were being quoted on the OTC pink sheets for quite a time, AMBC has always been a transparent company that has always been open about their reporting.
DOES THAT MEAN IT IS GOOD TO INVEST IN ABMC?
There cannot be a definitive answer to that but on the surface, ABMC stock looks like a promising prospect. However, the success of the company is largely dependent on the quality of their products and the competition in the market. There are a lot of “ifs” and “mays” involved in ABMC stock making major profits, but if you are the risk-taking type, you can totally invest in this firm and hope for the best.
THE BOTTOM LINE
The listing of ABMC on the OTC Markets Inc. list is just another addition to the extensive portfolio of the venture capital agency. The long-time implications of this for the company, its stakeholders, and most importantly, the shareholders are yet to be determined, as plenty of variables are involved. Keep visiting Wall Street Media Co to keep up with the changing economical, financial, political, and technological environment around you.