American BioMedica faces possible Nasdaq delisting

By Elaine Rigoli

Tampa, Fla., Aug. 28 - American BioMedica Corp. said it has received a notice from the Nasdaq informing the company that for the last 30 consecutive business days, the bid price of the company's common stock has closed below the minimum $1.00 per share requirement for continued listing.

The letter stated that under Nasdaq rules the company will have 180 calendar days, or until Feb. 20, 2007, to regain compliance.

To regain compliance, anytime before Feb. 20, 2007 the bid price of the company's common stock must close at $1.00 per share or more for a minimum of 10 consecutive business days.

Located in Kinderhook, N.Y., American BioMedica develops on-site drugs-of-abuse diagnostic kits and support services worldwide.

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