TGL WHAAAAAAAT! Alerts, thoughts, discussion. Message Board

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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.

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To: Jim Bishop who started this subject	7/18/2000 1:48:04 AM
From: J. Nelson	Read Replies (2) of 150070

Looks like the old #7 for... ABMI... LIQUIDATED... American BioMed Unable to Complete Recapitalization and Company's Assets to beLiquidated Mon Jul 17 07:46:00 EDT 2000 DALLAS, Jul 17, 2000 (BUSINESS WIRE) -- American BioMed, Inc. (OTCBB:ABMI) today reported that it has been unable to complete its plan of recapitalization. After unsuccessfully pursuing alternate sources of funds, the Company's Board of Directors has authorized retention of bankruptcy counsel and the filing of a petition under Chapter 7 of the Bankruptcy Code. On behalf of the Board of Directors Chairman & Chief Executive Officer Justine B. Corday commented, "As shareholders and creditors of the Company ourselves, we wish other courses had been available, and we genuinely regret the necessity of these steps." This release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While based on assumptions the Company believes are reasonable, actual results could differ materially based on changes in these or unforeseen factors, and the Company assumes no responsibility to publicly update or revise any forward-looking statements herein. Among such uncertainties are government regulation; results of research, development and clinical testing; general economic and other market conditions; pricing and reimbursement for medical care; and market competition. CONTACT: American BioMed, Inc. Justine B. Corday, 972/308-8575 URL: businesswire.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. Copyright (C) 2000 Business Wire. All rights reserved. Distributed via COMTEX.

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