Saturday, June 25, 2016 9:42:27 AM
BIEL has not stopped "diluting." The SEC told them to Cease and Desist their illegal distribution of unregistered shares but they can, and will, continue diluting. For example, they dumped 300 million shares in Q1 after the SEC issued the Cease and Desist.
BIEL's A/S is 15 billion and the O/S is somewhere around 11 billion -- of course, nobody knows, because the T/A won't disclose the O/S.
BIEL doesn't show signs of becoming profitable, IMO. The UK is the only place they have significant sales, and UK sales dropped 10% from Q1 2015 to Q1 2016. That is not an indication of a company heading towards profitability.
Especially when the excuse for disappointing Q4 2015 sales was "a lot of the sales got deferred to Q1 2016."
BIEL had only $22,000 in cash at the end of Q1. It will be interesting to see how they funded Q2. They tapped out their Line of Credit in Q1, and we all know that when a pinksheet biotech borrows money it's done at usurious rates.
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