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Microcap & Penny Stocks : AMERICAN BIOMED, Minimally Invasive Technology (ABMI)
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To: Michael Parmentier who wrote (2676)4/20/1999 7:21:00 PM
From: dollarone  Read Replies (1) of 2887
 
In my opinion, its always important to reread ABMI's press releases to see if they mean what you think they do at first glance. Today's release says that the Company has paid CURRENT amounts owed to the former chairman. So what does current mean? Are there non-current amounts that are still owed? The release goes on to say that the commercialization of the Company's technology will be accelerated now that the matter is behind the Company. That's hard for me to believe if there has not been a significant infusion of capital into the Company which we have been hearing about since approximately last fall beginning with the release on LaSalle. The Company states in its 10-K late filing notice that the delay in filing the 10-K relates to....as well as unresolved fee issues with the predecessor auditor. This, in my opinion, makes the technology acceleration statement in their press release questionable, if not absurd. I think Steve Rash should have commented in the release as to why the 10-K continues to be late. Its time to release the year end results and let the "loyal" shareholders as Rash calls us decide for ourselves exactly what is going on at ABMI.
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