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Microcap & Penny Stocks : AMERICAN BIOMED, Minimally Invasive Technology (ABMI) -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey L. Henken who wrote (1158)	6/5/1998 12:38:00 PM
From: dollarone	Respond to of 2887

Jeff, I believe the Company said in their press release on May 7, 1998 that they were allowed to initially draw down $600,000 commensurate with the signing of the agreement. That's it - certainly not much to proceed very far in the clinical trials. As M.S.H. said the Company must meet certain benchmarks in order to get additional funding in the future, without which the Company's future cannot be assured. As you should know, the auditor's opinion dated 3/31/98 in the 10-K for the year ended 12/31/97 says IN PART: "........As shown in the accompanying consolidated financial statements through 12/31/97 the Company had a cumulative loss of $27,149,225 since its inception and had a working capital deficit of $627,151 at 12/31/97. The above conditions raise substantial doubts about the Company's ability to continue as a going concern....." Refer to the 10-K for the complete opinion. I did not see a summary in the 10-Q by management of the benchmarks they must meet to obtain future funding. The agreement is an exhibit to the 10-Q but it is not easy for me to decipher.

To: Jeffrey L. Henken who wrote (1158)	6/5/1998 3:06:00 PM
From: M.S.H	Read Replies (1) \| Respond to of 2887

WOW that press release knocked the stock down even more. What was Rash thinking. Jeff, Dollarone is correct, go ask Rash if ABMI CLOSED THE 5MM EQUITY LINE. I will bet you the world that the answere is NO. The company has NO $.

To: Jeffrey L. Henken who wrote (1158)	6/5/1998 6:49:00 PM
From: Brenda L. Greer	Read Replies (2) \| Respond to of 2887

Friday June 5, 1:39 pm Eastern Time Company Press Release American BioMed Inc. Responds to Comments Made Over the Internet THE WOODLANDS, Texas--(BW HealthWire)--June 5, 1998--American BioMed Inc. (OTC/BB:ABMI - news) Friday made a statement concerning comments made through various Internet chat rooms regarding a pending lawsuit by David P. Summers, Ph.D., formerly the company's chairman and chief scientific officer. Steven B. Rash, president and chief executive officer of American BioMed, said: ''Yes, we are in litigation with David Summers. Details of the lawsuit have been disclosed in our 10K and SEC documents. We dispute the allegations in the lawsuit, and the company has filed a number of counterclaims against Summers. ''The company's legal counsel has requested that management refrain from addressing Summer's specific allegations in a public forum due to the pending litigation. The company believes Summer's comments clearly reveal his motivation and bias towards the company.'' American BioMed utilizes state-of-the-art technology to develop, manufacture and market minimally invasive medical devices for the treatment of cardiovascular disease. The company's products include 100 percent silicone-based catheters, through its Cathlab subsidiary; the Evert-O-Cath, a toposcopic catheter for site-specific drug delivery and fluid removal; the OmniCath, an atherectomy catheter designed to remove atherosclerotic plaque from obstructed blood vessels throughout the body; and the OrniFilter, which is used to prevent blood clots from reaching various organs of the body. The company has more than 25 patents and 11 Food and Drug Administration approvals covering its product portfolio, and addresses an annual worldwide market estimated to be in excess of $10 billion. ''Safe Harbor'' statement under the Private Securities Litigation Reform Act of 1995: The statements that are not historical facts contained in the release are forward-looking statements that involve risks and uncertainties, including but not limited to the results of research and development efforts, the results of preclinical and clinical testing, the effect of regulation by the FDA and other agencies, the impact of competitive product development, commercialization and technological difficulties, the results of financing efforts, the effect of the company's accounting policies, and other risks detailed in the company's Securities and Exchange Commission filings. Contact: American BioMed Inc., The Woodlands Steven B. Rash, 281/367-3895 or Investor relations: Coffin Communications, Sherman Oaks, Calif. Bill Coffin, 818/789-0100 or Media relations: Coffin-Mottola Communications, Irvine, Calif. Christi Mottola, 714/851-1109