American Bio Medica Corporation announced in connection with the Sale, Melissa A. Waterhouse, the Chief Executive Officer/Principal Financial Officer of the company, agreed to enter into an employment agreement with the Buyer. Therefore, the employment agreement with the company's Chief Executive Officer/Principal Financial Officer, Melissa Waterhouse, was terminated effective March 1, 2023. Ms. Waterhouse has agreed to provide consulting services for the company for up to three months, or until June 1, 2023 to assist with the company's financial reporting obligations and to assist with the company's efforts to secure a new line of business and enter into possible business combinations using the company's publicly traded stock as transaction consideration thereby enhancing shareholder value.