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Microcap & Penny Stocks : AMERICAN BIOMED, Minimally Invasive Technology (ABMI)
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To: CIN-CIU-E who wrote (2660)4/7/1999 9:01:00 AM
From: Grant MacMillan  Read Replies (1) of 2887
 
A step in the right direction I'd say, but it also confirms most peoples belief that ABMI was unable to effectively market the current product line, which cost millions of dollars to develop. I doubt they will ever see a return on that investment, but better to recognize that and move on than to continue to pump money into a losing venture.

I can't help but wonder why this announcement came ahead of any arrangements for financing, because the company cannot afford to develop their other products under current conditions. My guess is that potential lenders told them to get their expenses under control. Perhaps they won't mind lending for the future products, but didn't want to see their money spent financing production of the current line, which, by all sales figures, was going nowhere in a hurry.

GM
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