SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
Date of
Report (Date of earliest event reported): January 16, 2009 (January
14, 2009)
CHEMBIO
DIAGNOSTICS, INC.
(Exact
name of registrant as specified in its charter)
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Nevada
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0-30379
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88-0425691
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(State
or other jurisdiction
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(Commission
File Number)
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(IRS
Employer
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of
Incorporation)
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Identification
Number)
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3661
Horseblock Road
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Medford,
NY 11763
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(Address
of principal executive offices)
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631-924-1135
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(Registrant’s
Telephone Number)
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N/A
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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ITEM
2.02. Results of Operations and Financial Condition
To the
extent applicable, the information set forth in Item 7.01 of this 8-K hereby is
incorporated by reference in this Item 2.02.
ITEM
7.01. REGULATION
FD DISCLOSURE.
On
January 14, 2009, the Company implemented payroll and other related cost
reductions primarily because of reduced demand anticipated for its products from
the United States President’s Emergency Plan for AIDS Relief or
PEPFAR. The anticipated reduced demand is primarily due to a change
in the testing protocol in Nigeria, which the Company first reported in March
2008.
In 2008
the Company realized revenues related to Nigeria of approximately $3MM, which
constituted approximately 30% of its revenues. The Company is terminating
approximately 33% of its employees in production-related
activities. In addition, the Company is taking other cost-reduction
actions, which, when fully implemented and combined with the aforementioned
personnel reductions, are anticipated to reduce quarterly compensation and other
costs by a total of at least $300,000 as compared to the fourth quarter of
2008.
In
accordance with General Instruction B.2 of Form 8-K, the information in this
Current Report on Form 8-K is being furnished and shall not be deemed
“filed” for the purpose of Section 18 of the Securities Exchange Act of
1934, nor shall it be deemed incorporated by reference in any
filing.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
Date: January
16,
2009 Chembio
Diagnostics, Inc.
By: /s/ Lawrence A.
Siebert
Lawrence
A. Siebert
Chief
Executive Officer