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Test Kit GSA Contracts; the Rise of American Bio Medica Corporation (OTCMKTS: ABMC)

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American Bio Medica Corporation (OTCMKTS: ABMC) is among the most exciting stories in small caps that saw a historic rise from $0.055 start point to highs of $1.26 earlier this year after the Company’s COVID-19 rapid test was authorized by the FDA under an Emergency Use Authorization (EUA) for use by authorized laboratories and is documented on the FDA website. ABMC has seen some choppy waters since than dropping below the $0.20 mark before a recent upwards surge in price and volume.

American Bio has been selling some of the world’s most effective point of collection tests for drug abuse for years and has significant established revenue streams from GSA government contracts. The Company is also backed by institutional investor; Stuart Sternberg, who is the owner of the MLB Tampa Bay Rays baseball team, and a seasoned hedge fund investor. Penny stock speculators noting the recent historic rise to $1.26 are accumulating at current levels.

American Bio Medica Corporation (OTCMKTS: ABMC) operating out of Kinderhook, New York is a biotechnology company that develops, manufactures, and markets accurate, cost-effective immunoassay test kits, including some of the world’s most effective point of collection tests for drugs of abuse. American Bio Medica Corporation (formerly American Micro Media Inc) was founded in 1992.  The Company and its worldwide distribution network target the workplace, government, corrections, clinical and educational markets. American Bio has a long proven history based on all the FDA approved products totaling over 100. The Company currently holds a GSA contract that is currently good through Jul 31, 2021.  GSA Schedules (also referred to as Multiple Award Schedules (MAS) and Federal Supply Schedules) are long-term government wide contracts with commercial firms providing federal, state, and local government buyers access to more than 11 million commercial supplies (products) and services at volume discount pricing. A GSA contract allows government agencies to immediately purchase without the need to go to public bid.

ABMC owns a valuable patent portfolio including 8 active patents for System and procedure for lateral flow immunoassay tests. Device and method for testing biological samples. Device and method for testing biological samples (Europe). Extraction method and apparatus for high-sensitivity body fluid testing device. Assay device and process for the testing of fluid samples. Method for stimulating saliva production during oral sample collection and Lateral flow immunoassay device and method.

The Company is led by CEO Melissa Waterhouse who joined ABMC in December 1997. Since that time she has held various management positions in Investor Relations, Marketing and Public Relations. She served as the Company’s Corporate Secretary from September 2003 until her interim appointment as Chief Executive Officer and Principal Financial Officer in October 2013. In June 2014, Ms. Waterhouse was appointed as Chief Executive Officer and Principal Financial Officer and was appointed to the Board of Directors.

American Bio has been selling FDA approved immunoassay test kits, including some of the world’s most effective point of collection tests for drugs of abuse for years and so it is no wonder they developed a covid 19 test kit; on March 20, 2020, American Bio Medica Corporation (the “Company”) announced in a press release and Form 8-K that it was offering a COVID-19 Antibody Rapid Detection Kit to detect COVID-19 in whole blood, serum or plasma via finger stick. On May 29, 2020, the COVID-19 test being distributed by the Company was authorized by the United States Food and Drug Administration (FDA) under an Emergency Use Authorization (EUA) for use by authorized laboratories. The product, manufactured by Healgen Scientific, LLC, has been authorized only for the presence of IgM and IgG antibodies against SARS-CoV-2, not for any other viruses or pathogens. The product is intended for professional use and not for home use. The Company will continue to market the COVID-19 test in full compliance with FDA policy and the EUA.

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ABMC

American Bio’s COVID-19 rapid test was authorized by the FDA on May 29 under an Emergency Use Authorization (EUA) for use by authorized laboratories and it is currently documented on the FDA website. Pursuant to the obtained May FDA/EUA approval, as confirmed via e-mails from CEO Melissa Waterhouse, ABMC has shipped well over 1 million test kits.

On October 7 ABMC signed a distribution agreement with Co-Diagnostics, Inc. (CODX) granting ABMC the right to market and sell the Logix Smart Covid-19 tests in the United States on a non-exclusive basis. The test operates using a single step RT-PCR process in lower respiratory tract fluid samples such as bronchoalveolar lavage, sputum, tracheal aspirate, and upper respiratory tract fluid samples, such as nasopharyngeal and oropharyngeal swabs, obtained from patients who present with signs and symptoms for Covid-19, with easy-to-interpret results in under two hours.

ABMC will market the Covid-19 diagnostic test only to clinical laboratories certified under Clinical Laboratory Improvement Amendments (CLIA), and in accordance with the Emergency Use Authorization issued to Co-Diagnostics, Inc. by the U.S. Food and Drug Administration on April 3, 2020.

Chief Executive Officer Melissa A. Waterhouse stated, “We are excited to offer our customers another testing solution for Covid-19. The Co-Diagnostic RT-PCR test enables us to offer customers a diagnostic tool that can be run on high-throughput machines. We can get a lot of necessary information from antibody testing over time and we believe there are a number of additional applications for antibody testing, but the need for diagnostic testing is still great in the US. The Co-Diagnostic RT-PCR test is a great complement to the Rapid IgG/IgM antibody test we already distribute.”

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Currently trading at a $7 million market valuation based on 35.9 million shares out and A/S capped at 50 million American Bio Medica is among the most exciting stories in small caps; the Company has been selling some of the world’s most effective point of collection tests for drug abuse for years and has significant established revenue streams from GSA government contracts; for the 6 months ended June 30, 2020 the Company reported $2,486,000 in sales up from 1.88 million for the same period last year. ABMC is backed by institutional investor; Stuart Sternberg, who is the owner of the MLB Tampa Bay Rays baseball team, and a seasoned hedge fund investor. American Bio Medica COVID-19 rapid test was authorized by the FDA on May 29 under an Emergency Use Authorization (EUA) for use by authorized laboratories and it is currently documented on the FDA website. Penny stock speculators noting the recent historic rise to $1.26 are accumulating at current levels. We will be updating on ABMC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ABMC.

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Disclosure: we hold no position in ABMC either long or short and we have not been compensated for this article.

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Clean Vision Corp (OTC: CLNV): Overcoming the Plastic Waste Crisis

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Clean Vision Corporation (OTC: CLNV) has experienced several interesting developments recently, but it hasn’t noticeably influenced the market with any substantial gains. Nonetheless, we believe it’s worth providing an update on the company given it’s been a few months since our last mention. In today’s discussion, we’ll explore a variety of updates and their significance, with aim of providing insight on what to expect for 2024.

Background:

Clean Vision is led by Dan Bates, and their goal is to tackle the global plastic waste crisis head-on. Their wholly owned subsidiary, Clean Seas, has developed the Plastic Conversion Network (PCN), a groundbreaking technology aimed at diverting millions of tons of waste plastic from landfills, incineration, and oceans. The PCN converts this plastic feedstock into clean fuels and green hydrogen, significantly reducing reliance on fossil fuels and lowering the carbon footprint.

For a brief 2 minute overview on the company, feel free to reference the video CLNV’s subsidiary put together on YouTube. Here’s the link.

Clean Seas utilizes proven pyrolysis technology to produce environmentally friendly products, which are sold to multinational petrochemical companies, driving the circular plastic economy. Operational PCN facilities are already in place in Morocco and India, with additional conversion facilities in development across West Virginia, Arizona, and Southeast Asia. Long-term feedstock supply agreements exceeding one million tons of waste plastic annually have been secured at no cost.

Their recently trademarked brand, AquaH®, is produced in their PCN. According to the release, it offers a differentiated green hydrogen product from carbon-neutral sources. Currently, hydrogen is predominantly produced through methods that involve fossil fuels, which of course contributes to global carbon emissions. Furthermore according to Deloitte’s 2023 global green hydrogen outlook, this could be a $1.4T annual market by 2050.

$65 Million Plastic Conversion Facility:

CLNV is making big moves in West Virginia and according to the release on October 24th, 2023, they’ve brought in some serious players—CDI Engineering Solutions and ERM—to help out with their Clean-Seas West Virginia project.

CDI has over 70 years of experience integrating engineering, design, project support, procurement and construction management services to the energy, chemicals and electrical infrastructure markets.

ERM is the world’s largest advisory firm focused solely on sustainability, offering environmental, health, safety, risk and social expertise for more than 50 years with more than 8,500 dedicated professionals operating across 40 countries.

The plan is to kick things off in 2024, turning 100 tons of plastic every day into recycled plastics and clean fuels. It’s a hefty project with a $65 million investment, creating over 200 jobs initially. And they’re not stopping there—they want to scale up to 500 tons of plastic per day over time.

West Virginia Governor Jim Justice is also on board, throwing over $12 million in state incentives to support the project.

Governor Jim Justice made a reference to Clean Seas in his state of the union address. If you want to catch the mention, go to 34:15 in the video. The three minutes leading up to it are also worth reviewing.

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Launches Global Operations:

CLNV made another significant advancement, planning to launch waste plastic conversion facilities in the European Union, Eastern Europe, and Southeast Asia. This will be accomplished through their new subsidiary, Clean-Seas Partners UK Limited (CS-UK), who of course shares the same vision of creating sustainable solutions to the global plastic pollution crisis.

Under the leadership of Managing Director Shaun Wootton, CS-UK will play a crucial role in strategic project development and investment facilitation, leveraging established relationships in the Middle East, Southeast Asia, and Europe.

To fortify effective governance and strategic direction, CS-UK is assembling a distinguished board with internationally recognized figures in banking, sustainability, and energy. This approach aims to have a diverse and experienced board guiding CS-UK in realizing its vision of promoting sustainability and environmental stewardship across diverse regions.

$340 Million Bond Offering:

CLNV even announced they partnered with a global advisory firm, Grant Thornton, to issue up to $340 million in Green Bonds. This is the world’s sixth-largest network of independent accounting and consulting firms, employing 62,000 people in more than 130 countries and had revenues of $6.6 billion in 2021. These bonds will fund the expansion of Clean Vision’s Plastic Conversion Network (PCN) under the “Clean-Seas” initiative worldwide, aimed at combatting plastic pollution on a global scale.

With the Green Bond’s net proceeds, CLNV plans to deploy at least six plastic waste conversion lines globally, with strategic locations in West Virginia, Arizona, Southeast Asia, and expansion in Morocco. The Green Bond is also expected to attract environmentally conscious investors, setting a new standard for corporate responsibility.

$15M Government Loan:

Lastly, under the capable management of Huntington Bank, CLNV has recently secured a $15 million government loan. What sets this apart is that the loan is FORGIVABLE.

A forgivable loan is a type of loan where the borrower is not required to repay the borrowed amount under certain conditions. Typically, these conditions are related to the borrower meeting specific criteria, such as using the funds for approved purposes, maintaining certain employment levels, or achieving predetermined goals. If the borrower fulfills these conditions, the loan is forgiven, and they are not obligated to repay the borrowed amount. Forgivable loans are often used as an incentive or support for specific activities, such as job creation, small business development, or other initiatives that contribute to economic growth or community welfare.

Not to mention it won’t result in any dilution for shareholders. This is an unexpected and uncommon accomplishment for an OTC company. Securing a government loan of this size without any dilution is truly impressive.

Conclusion:

CLNV has made impressive strides tackling the global plastic waste crisis, especially given their valuation of merely $22.65 million. The team has swiftly achieved key objectives, including a $65 million plastic conversion facility in West Virginia, global expansion through Clean-Seas Partners UK Limited, a $340 million Green Bond Offering, and a remarkable $15 million forgivable government loan. The vast $1.4 trillion market they’re tapping into offers an interesting opportunity with current indicators looking positive. Nevertheless, it’s crucial to acknowledge that there is still significant work ahead, and the team needs to maintain consistent execution to turn this potential into a reality.

We will update you on CLNV when more details emerge, subscribe to Microcapdaily to follow along!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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Meta Materials (NASDAQ: MMAT): More Due Diligence and Exploring Latest Developments

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Meta Materials (NASDAQ: MMAT) witnessed a significant uptick in trading activity on January 16th, 2024, resulting in a notable 20% increase in its stock value by market close. Intrigued by this surge, we explored various sources, including press releases, SEC filings, and social media, to identify the catalyst behind this sudden gain.

Unexpectedly our research revealed no recent material releases. Instead, the surge seems tied to an announcement from a few days ago that didn’t grab much attention at first. As time passed, it started generating more buzz but there’s still a lot more to dig into and a number of ideas to consider for today’s rally.

If you haven’t caught up on our previous analyses of MMAT, you can find the overview here. In this report, we aim to explore the cause-and-effect dynamics of recent events, offering insights that might illuminate expectations for Meta Materials in the near future.

Background:

If you’re new to MMAT or haven’t been a long-time follower, let’s kick things off with a quick intro to the company.

Meta Materials stands at the forefront of advanced materials and nanotechnology. Their focus is on pioneering novel products and technologies utilizing sustainable and innovative scientific approaches. The interesting part is their advanced materials have the transformative power to enhance a variety of common products, infusing them with heightened intelligence and sustainability.

Leveraging its technology platforms, they’re capable of empowering global brands in creating cutting-edge products that elevate overall performance.

Their technology has application across multiple industries including aerospace and defense, consumer electronics, 5G communications, batteries, authentication, automotive, and clean energy. Their agreement with Panasonic is certainly a great start to empowering their growth in one of many verticals. Overall the TAM is ~$32B and with current growth rates, it’ll increase to a whopping ~$61B by 2026.

MMAT’s goal is to shape a smarter and more sustainable world. If you look through their presentation, you can continue to evaluate the many ways their technology transforms everyday lives. We highly suggest you take a look.

Additional Resources:

  1. @LauraLoomer’s video on MMAT
  2. @metaheadj’s post on X, displaying Rob Stone‘s response update for an investor

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What Happened:

So, MMAT issued a press release on January  11th, 2024, announcing a proposed settlement with the Securities and Exchange Commission (SEC) concerning an investigation related to the Torchlight Energy Resources, Inc. and Metamaterial Inc. merger.

According to the release, The company has extended a settlement offer (Proposed SEC Settlement) to the SEC’s Division of Enforcement. This proposed settlement aims to address concerns regarding antifraud, reporting, books and records, and internal accounting control provisions of securities laws. It is important to note that the Proposed SEC Settlement is contingent on approval by the SEC Commissioners, and the company cannot predict the approval timeline.

If accepted, the Proposed SEC Settlement would involve the SEC entering a cease-and-desist order and the company paying a civil money penalty of $1 million over a one-year period in four installments. Notably, the company would neither admit nor deny the findings outlined in the Order.

The company’s board of directors and management team view the Proposed SEC Settlement as beneficial for shareholders. If approved, it is expected to remove uncertainty surrounding the investigation, enabling the company to focus on advancing its business objectives.

So What:

If you’ve just read through the announcement and are confused, you’re not alone. It appears that many investors may have mis-read the press release, thinking that the SEC was being punished and MMAT was reaching a settlement agreement, but it appears to be the other way around.

In the event of approval, the company is obligated to pay a civil money penalty of $1 million. This penalty would be paid in four installments over the course of one year, following an agreed-upon payment plan. However, the PR also notes that the company cannot predict with certainty whether or when the Proposed SEC Settlement will even be approved by the SEC Commissioners.

According to another user on X, @AShortSqueeze, MMAT’s initial analysis has potentially revealed the motherload of counterfeit shares.

But if you scroll through the comments, you’ll see other users pointing out that this information is actually old news. This is just one of many widely circulated posts that might have been misunderstood.

Significant Coverage:

Another theory suggests that a notable influencer in the financial space, @MoonMarket_, has set their sights on the company and is conducting additional due diligence. With a substantial following of almost 75K users, the influencer’s involvement could have contributed to a significant fluctuation in today’s trading session. It’s important to recognize that X is packed with plenty of financial influencers, and blindly following their moves can be risky. Many are involved in day trades, momentum trading, or at least contemplating such strategies.

Conclusion:

The buzz around MMAT today seems fuelled by a mix of misrepresented themes and recycled news, creating the illusion of fresh, imminent developments.

As per usual, the magnitude of MMAT’s technology and potential integrations across various verticals continues to create a roar of excitement. On another front, we’re also continuing to see speculation about a short squeeze due to substantial amounts of counterfeit shares.

For now, patience is key and we suggest closely monitoring developments. MMAT especially tends to be quite volatile.

Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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Integrated Cannabis Solutions’ (OTC: IGPK) 633% Surge: Exploring Catalysts, Company Overview, and Growth Potential in 2024

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Integrated Cannabis Solutions (OTC: IGPK) has undergone a remarkable uptrend, surging an impressive 633% since December 11th, 2023, with 166% of that surge taking place across yesterday’s trading session and today, January 11th, 2023. Both days have been marked by unprecedented volume – Yahoo Finance reported an almost 30x increase, with 115,867,027 shares traded by close yesterday. We’re already seeing 90,092,317 shares traded this morning and it’s just barely noon. Today we’ll explore the catalysts behind the surge, offer a comprehensive overview of the company, and evaluate IGPK’s potential for sustained growth throughout 2024.

Background:

Let’s get straight to it. IGPK is the result of a recent reverse merger with Integrated Cannabis Solutions and JFH Digital E-Commerce Corp. The first thing you’ll notice is finding the website isn’t a walk in the park, we’re fairly certain there isn’t one yet, at least one that will help in any way related to more investment information. Your best bet for more any information is to check out IGPK’s OTC Market page for details, but even the company description on there is not accurate. We’ve mainly found the following information through filings, IGPK’s Twitter, and other online users.

Keep in mind this breakdown might not be flawless given we’re piecing it together mostly from what folks on X are saying. But we’ll try our absolute best to lay it all out for you.

IGPK appears to have been a shell for little while until JFH stepped in. A user on X, @stockplayer30, broke it down fairly simply, stating that the shell’s slate was wiped clean, cancelling all notes payable and any debt. Whether it’s a promissory note, convertible note, or convertible debenture, the main point is they ditched all debt. JFH has an opportunity to start fresh, and it certainly makes this deal a lot more interesting.

Just a heads up, it’s a Chinese merger. If the idea of a Chinese leadership team makes you a bit wary, you might want to pause here. However if you were in the trading game during the summer of ’23, you probably remember those crazy spikes in some Chinese Nasdaq deals. And get this – no big press releases or SEC filings to explain those sudden jumps either.

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Company Description:

Onto what the company actually does. According to @SuperRobotOTC on X, this is a digital e-commerce company based in China, here’s a link to their e-commerce website. This user also put together a great overview of the company on YouTube, if you’d like to watch something informative in video format, click here.

Another user, @igal_n, found a blurb on the company that states, “Junfenghuang (JFH) is a digital asset. It is a token issued by Uplus Future Company with the help of blockchain technology. It has no direct relationship with the original equity”.

The Potential:

What makes this story extremely interesting is the sheer magnitude of how large JFH is, the intrinsic value does not appear to be valued accurately in the market, given it’s only freshly merged into IGPK’s tiny shell company on the OTC.

Their Gross Merchandise Value (GMV) is heading north of 50 billion yuan, and post-merger profits from service outlets are looking at a hefty 10 billion yuan – yes, billion with a B.

Steering the ship is a leadership team featuring President Wang Dejun, Treasurer Xie Weiji, and Director Yang Lanfang. With a whopping 750 subsidiaries, 250,000 merchants, and 30 million registered users. We’ve also heard from other sources that the registered users could be nearly double that, coming in at 50 million registered users.

These numbers are substantial for a company with a $7 million market cap. Looking ahead, it won’t be shocking if IGPK sets its sights on moving up to a bigger exchange like NASDAQ. It’s no secret they’re already in the big leagues – or it at least appears so. If that were the case, they’d of course have enhanced credibility, more visibility, and increased access to capital with institutional funding.

The App:

Now, you might be wondering, “Sounds cool, but it’s a Chinese merger with a whole setup on the other side of the planet. Can we trust this info?” @SuperRobotOTC has also gone the extra mile by downloading the app, and gave us the lowdown in video format. On top of the SEC filings, this is an added layer of trust & credibility we can attribute to this new venture. Here’s the link to the video.

Conclusion:

Fortunately it appears IGPK is still for the most part flying under the radar. There’s not even a proper website or accurate update on IGPK’s OTC Market overview to tell us what the company even entails. But here’s the silver lining – that might mean you’re still early. The intrinsic value of IGPK appears strongly disproportionate to its current value in the market.

Our advice? Keep a close eye on IGPK’s journey as it takes on this exciting phase of growth and exploration. It’s likely this story will catch wind quickly and it could be a great time to take advantage. As @SuperRobotOTC eluded to in his video, this could be the OTC’s largest merger, with a potential $70B valuation.

We will update you on IGPK when more details emerge, subscribe to Microcapdaily to follow along!

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Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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