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No disrespect intended Dubb but I would love to read a CV including experience at running a publicly traded pharma/medical enterprise that has gone through the process of FDA approvals for its product line. If BIEL can complete this process, its unique patented products will be sought after by acquisitors, either for some kind of sales agreement or the whole company could be in play. Also, please illuminate M&A experience because your post is totally confusing to me. I may have a lot to learn about the science of ActiPatch, but I'm not the dullest knife in the drawer and I just can't make any sense of your message. Thanks
The business people should run the business and make the deals.
If the science is solid, the IP intact and the DD process efficient, because the BIEL books amd data are orderly, it can be done fairly quickly, but what is fairly quickly is your next question?
If the business executives can control those processes and the documentation, it will move quickly. If legal counsel controls the process, it will take longer. Nothing more lucrative than two procrastinating, perfectionist lawyers, who have two CEOs believing they are vulnerable. That's where strong leadership comes into play, establish a completion schedule with challenging, but not ridiculous deadlines, challenge and manage people to remain within their agreed to boundaries and get 'er done. Much of this work could be in-process, or completed, already. If it were me, I would limit distractions, focus and drill down only on 5 things simultaneously; 510K application and review, review, review of the data to be inserted therein, FDA PR and related processes, delegating everything possible and managing my senior management team, assembling 4 to 6 players in the analgesic space, and moving the company to a trading venue that will be more favorable to the Street and potential investors. All in a full court press in the next 30 days (preferably yesterday) and to remain there until completion. Why? Because the remaining life of a patent is sacred and is often viewed with complacency, but it's like an ActiPatch battery, it runs out!
Meanwhile a competent CEO will ease the news of the processes underway onto the Street and you know the rest. People should reflect on how tough the game is on people, their families and their health and how it is no wonder that such challenges as these cause major health crises. The question recently concerning succession planning was smart and appropriate and I assume this aspect of good management has been addressed. Hope this helps
I would assume any LOI would set out clearly the undertakings and responsibilities of the parties.
The asset and the agreement are/will be worth much, much more with the contemplated approvals in place, so one would expect BIEL to complete those, thus adding value to its IP.
And remember, this is all based on speculation, not a structured press release, or announcement by the company that all current and potential shareholders would be publicly privy to.
Sorry, new and improved, i expanded my thoughts and was late!
Hey Yankee.
That's a lecture or two at a good eastern B School, some reading and a lot of experience.
Essentially the fee structure I outlined with sales thresholds affecting royalty payments.
Simply then a question of how much and highly skilled negotiating.
Recommended to have simultaneous discussions, although I would pay BIEL a standstill fee to permit me exclusivity to try to comple a deal.
Territory is an issue to be considered. North America? Whelan did say Canada would be part of a US LA. What about South America? The EU? PacRim countries? A global player would want all the rights it can get, BIEL will want as much for those rights as it can get.
The project needs a realistic and professional Business Plan, a SWOT Analysis, and sane people at the table who want to do a deal good for both parties. Both will start out greedy, but that's just gamesmanship.
If I'm CEO of BIEL,I've connected with 5 parties and established relationships with all.
Srinsocal mentions Abbott and Pfizer, we know the CEO of J&J was Director of its Devices Division in his prior assignment, GSK is active in the devices space now. Steering the battle lines is not difficult. ActiPatch is coming, it will affect OTC, Branded and Genericanalgesic sales if managed properly. How many large pharma players have 400plus field forces in the US in the pain space now making calls to retail chain procurement staff? Many.
The rest of doing a deal satisfactory to both parties is straightforward boiler plate in an LA document, tedious but necessary. The reality is that willing future partners could complete an agreement in principle in a morning, ink that with a Letter of Intent containing the salient business terms, followed by an LA prepared by both counsels following the LofI, with the CEOs keeping it on the rails.
Wouldn't surprise me if there. Is already something scratched out.
Hey Yankee.
That's a lecture or two at a good eastern B School, some reading and a lot of experience.
Essentially the fee structure I outlined with sales thresholds affecting royalty payments.
Simply then a question of how much and highly skilled negotiating.
Recommended to have simultaneous discussions, although I would pay BIEL a standstill fee to permit me exclusivity to try to comple a deal.
Territory is an issue to be considered. North America? Whelan did say Canada would be part of a US LA. What about South America? The EU? PacRim countries? A global player would want all the rights it can get, BIEL will want as much for those rights as it can get.
The project needs a realistic and professional Business Plan, a SWOT Analysis, and sane people at the table who want to do a deal good for both parties. Both will start out greedy, but that's just gamesmanship.
If I'm CEO of BIEL,I've connected with 5 parties and established relationships with all.
RecoveryRx - people loosely use the name ActiPatch = they are all ActiPatch
Sounds correct - a deal involving up-front, milestones and royalties. Doesn't warrant speculation as to who the big pharma player is, I couldn't imagine BIEL doing it any other way.
Interesting area of speculation though is this. Is it a large pharma already in the OTC drug analgesic space, and therefor wanting greater market share in pain and covering its perverbial, or a pharma new to the pain game? I strongly suspect the former.
Accolades to Jimzin for his stellar work, tremendous contribution to us all, thank you.
No problem Pink - been involved in a few similar branding and promo campaigns with large chains. It ain't the chain that pays. For example, those monthly deep discount sales they put into the in-store flyers and local media? All 100% subsidized by the suppliers including special surcharges to cover printing and promotion. They don't ask, by the way. They tell the supplier they need 10,000 units at such and such a price for the next quarterly promo. 2,000 stores, 5 per store, supplier gets full cost price on excess sales. All part of the game and they work!
Be happy to Pink
First major bold heading into the update after the UK Back Pain Show is Boots:
UK Boots PR & Marketing Update
Below is a PR update in the UK that details recent activities of received coverage:
•Jacintaz3 Marathon Training feature http://jacintaz3.co.uk/review-actipatch-pain-relief/
•That’s Life 3 To Try’ on Drug-Free Pain Feature
•talkhealthpartnership.com ActiPatch included in a readers competition feature
•Your Wellness ActiPatch on ‘New Products’ page
•Anyway to stay at home, ActiPatch review http://anywaytostayathome.com/reviews-1/health-beauty/actipatch/
•FitTechnica Included ActiPatch in a ‘Alternative Therapy’ feature
•Walk climb hike, ActiPatch will be reviewed and shared on social media http://walkhikeclimb.co.uk/?p=708
•Jog-Blog a popular sports and lifestyle blog, where ActiPatch has been reviewed http://www.jog-blog.co.uk/2014/05/05/actipatch-knee-wrap-science-or-sootys-magic-wand/
Then, further down, I suspect the Sample Program is Boots related.
And finally the content you mentioned.
I feel much of the UK activity is being coordinated by Boots marketing - very common for the large chain retailers to design the promotions and the suppliers provide the sampling etc. Seems to be working as the inference is that sales are growing and ActiPatch is branding in the UK. Hope this all helps
The main point in my post was that FDA is not mentioned and I thought that was very wise at this time.
I read the Investor Update with delight!
Talks about Boots, Boots, Boots
UK Sample program
Back Pain Show UK - good booth B47 roughly center near spa center (go to exhibiting tab on show site)
Then the International Medical Trade Fair in Miami in August - biggest in the US - getting more than close to home!!!!!
Nothing about the FDA, which is brilliant and professional. If you don't have anything substantial to say, don't say anything. How refreshing and smart to see this competence.
Jimzin - please shoot me an email address when you can.
There is the question for Jimzin's lunch Saturday! I was weighing different questions, thanks 7up - Jimzin, would you mind adding a question about moving to the OTC:BB with a follow-up as to when he is might see that happening to your list of possible questions?
And what plans might you have to narrow down your 265 possible questions to 4 or 5 with real meat on the bones? That way the quality of the feedback will be better and it will feel less like an interrogation.
Great stuff on Amazon UK hooker - no worries re the ebay
Hey 7up - re my message on getting back to curly about talking about ActiPatch - should have added it's ok to talk about RecoveryRx allllll day long - you know what I mean. Apologies
Similar to the mule with the shoulder issue - curlygirl should only ever speak of RecoveryRx, which is currently FDA approved. Disciple is correct.
I cannot imagine BIEL would be selling this woman ActiPatch and hope to hell they are selling her RecoveryRx - this could be a topic of discussion for Jimzin over lunch this coming weekend?
If, on the other hand, someone has advised BIEL that this train is leaving and headed toward success, so fill orders and keep your mouths shut, then that's what everyone should do.
7up - would you mind getting to curlygirl and have her put the brakes on discussion of ActiPatch please?
I believe 7up may be saying you need to review your DD as to what is current and what is projected. They are two vastly different things.
Hey bieliever - re your 1st paragraph - all agreed, I understand too - nuffsaid.
The delayed (?) dating discrepancy was an easy spot - leaving me with the overwhelming sense that we are observing the middle of a roll-out plan. Remember all my writing about face-saving? This is all very professional and civil. Someone really knows what they are doing and deserves praise.
Good evening 7up, or good morning here on the east coast I see - Have enjoyed your understated humble style, as you know. This is great work by you!
Permit me to publish the links to the correspondence again here.
Credit for this find AND posting it on iHub must go to 7up.
Sue me if someone else has made note of it before here, but I don't recall it. Makes very good reading.
Quote - 7up's post:
"Was looking back at the FDA Docket File. This is dated 6/2/14 in the docket, but it is stamped 2/20/14 on the letter.
This jumped out at me as a clear path to the new class IMO
The whole letter is the link then open PDF file
In publishing the proposed order to reclassify shortwave diathermy for all other uses into class II with special controls, FDA has provided notice of its intent to initiate a change in the classification of these devices from class III to class II,under CFR $860.130(e),and, therefore, is closing your petition
Letter from FDA CDRH to BioElectronics Corporationnull
OtherPosted:06/02/2014
ID:FDA-2012-N-0378-0052
http://www.regulations.gov/#!docketBrowser;rpp=25;po=50;D=FDA-2012-N-0378
http://www.regulations.gov/#!documentDetail;D=FDA-2012-N-0378-0004
UNQUOTE
Only issue I can see is the letter is undated in typed text as part of the letter - a rubber date stamp is used. Curious. I believe I've seen other FDA correspondence crafted this way, is it because the author of the letter doesn't know when it will be mailed? Is it an error or deliberate? Is it part of the FDA approval of correspondence culture? Letters drafted for sending, but undated because they must first be circulated for endorsement internally? That makes sense to me. But, why not date it in final printing the day of dispatch by mail or courier?
How do you know they haven't bought and sold the same stock 150 times. Whelan was quoted here as saying that they used to sell shares to fund their operation, but he would not do it at these low prices. How do you know the trading is not a number of MM's just churning tens of millions of shares to catch a little here and there?
Hey Jimzin - good moves you're making, lunch, etc.
On balance, theoretically, and without scoundrels, often a difficult thing, a board of directors initiates a split to lower the stock price and a reverse split to raise it. Neither initiative 'should' reduce the value of a shareholder's investment, as it is usually done to attract more investors in the case of a split by the 'appearance' of a more reasonable price and more shares, i.e. "I couldn't possibly afford to buy a $500 stock, that's out of my league". It's all theatre, but, perception is reality.
Conversely, the directors in a reverse split may wish to move the trading of their company to a more up-market exchange, which is what I've been hoping for years in the case of BIEL. In my mind, that is less theatre and more desirous, IF a reverse split can be done close to a move to a more regulated exchange with SEC oversight. For example, unscrupulous types do not frequently mess with companies trading on the American or the NYSE, not to say it doesn't happen, it does, but less so than other venues. It does take a healthy company, some capital, legals, accountants and meeting exchange requirements, but if management can clean up a balance sheet and become profitable from operations, it's a good thing. No CEO wants his healthy company messed with by market thugs and attracting SEC investigations etc.
On share price, there is always vulnerability, but there's nothing like huge success and lots of volume to attract regulators and send the scum running. Technically, it's simple mathematics, but prices can always be manipulated. A few of the Good Guys here are expert at the ins and outs of moving to a different exchange. . . . .
As to your luncheon, you should not come away from it with any information that all other shareholders don't have, as you would then have exposure to privileged information and insider trading rules. And, you're right, assume Whelan knows the rules and has been cautioned well by counsel. You obviously have an amicable relationship with BIEL's CEO, that's good, maintain it and listen carefully. I happen to think BIEL is on the brink of a breakthrough in its forward momentum and I'll wager the CEO does too. Enjoy your lunch and make sure you set the tone when you meet that you are the host and he is your guest! :)
Try SEC.gov. Always better if you do the research, then you won't necessarily be misled and you will own both the wisdom and results of your decision.
It was a long time ago but, if I recall correctly, the SEC has no regulatory role in a reverse split of a company's stock; so such would therefor fall within the purview of state corporate law, combined with the corporation's articles of incorporation and by-laws. It's not something holders of common shares would normally vote on, but directors could be held accountable for their actions under their fiduciary duty obligations.
Well thought out and presented Dubb. iHub can be a lot of fun when really intelligent people are not distracted by the nonsense and are permitted to present their thoughts and I learn at every one. Thank you.
I concur with your assessment - 2009 was a 1 degree C issue and your choice of the word "argued" was apropos, from BIEL's perspective. Seems management at that time knew only one way - push, and the harder one pushes, well, something will give. When the FDA pushed back, simply unknowing of the science, it reacted to the heating of human tissue and out popped burn and scald. FDA now knows, after bringing people onto the file who 'get it' that those reactions were absurd, but that is the price one pays for leading edge. On the other hand, BIEL reacted to the push-back with "What? that's nuts, there are no negative side-effects." But FDA does not accept what anyone says, it cannot and must not. There are commercial, financial ramifications FDA must remain clear of. When it says "show us", applicants have to prove the case with trial data, not just state the case.
I strongly suspect the FDA will have the energy and thermal aspects of device nailed when assessing future applications involving more powerful devices. They have shown me they are very good at what they do, takes time, but very competent, and worldly enough to state they are throwing the doors open on a new device class after receiving new information that makes them more comfortable. Highly commendable in my view. You have bolstered my argument that it is only up to BIEL and the filing of its 510K application. Thank you again.
I’m not terribly perceptive yankee, I wish I were moreso - your posts shout out that you have either a bent for the law or have cracked law books and attended lectures on putting one’s thoughts in a reasonably orderly chronological sequence at some point in your life.
However, Mr. Yankee, law student, having indulged your thoughts as you requested, orderly though they are, please permit my rebuttal and counter-argument, if you will?
I will do so in responses to your paragraphs, in order as they appeared, and let our learned friends on iHub act as judge and jury as to who gets the nod. If my perceptions are correct, I believe Mary has specialized knowledge on the judicious application of the 'nod', so we may be able to rely on her.
In 2009, when BIEL presented its case/application in 2009, it, BIEL was both early, that is to say ahead of the FDA learning the science, and inept in how it handled the rejection by the FDA. BIEL attempted to push its way into the party, while the FDA did some homework, quite on its own.
By 2014, BIEL management had learned from its mistakes, added experts to its team and was primed and ready when the FDA authored its proposal that it create its new device class.
Here is where I submit you go off track my learned friend. One should perhaps never, ever assume that any judiciary body, be it judge, jury, tribunal, board, etc., etc., is going to decide a case one way or another. The FDA will only judge the question of approving or rejecting the BIEL 510K application for Class II OTC, and with conditions one must not forget, based solely upon the merits of the application itself! So, I respectfully submit, to the jury of our peers here on iHub, that close has no place here; summary judgment has no place here and therefor there is no likelihood or probability of quick decision or granting of approval based upon overwhelming evidence, as the evidence has not bee presented!
Rather, there is an implied acceptance of the SWT/PEMF science by the FDA that has been named “new information” and all the reasons of not harmful, no negative side-effects and so on. All highly encouraging, mind you, but I submit it is premature to take it beyond. I smiled when you submitted your definition of ‘Summary Judgment’. That one is correct, but somewhat out-dated. One can say that the Court ‘can’ decide upon a complaint since all the evidence is in, but will it? The Court can reserve or defer judgment and can certainly decide in favor of one party over another or can hold both parties liable, so be very careful here.
In my opinion, the pendulum is assuredly swinging BIEL’s way, but, when it has swung all the way, the onus will have been squarely placed upon BIEL to “show us what you’ve got”, thus the need for experts from the science, through the legals, to teamwork and diplomacy. If BIEL presents its case in a professional and diplomatic fashion, the jury, the FDA will make its decision based upon the merits. If it doesn’t, the FDA will make its decision based upon the merits.
Away from jurisprudence to the streets. The FDA has stated, “we studied and now understand the science and we conclude that we like the science; we like the efficacy; we like the safety; we want to open the doors with a new device class so you can bring us your applications; we may wish to throw in some special controls, but we will work with you.” Huge credit to the FDA, it listened, it learned, it is opening the doors.
On “FDA green light approvals” and “not too distant future”, I avoid such hypotheses like the plague. I have seen too many plaintiffs, with incredibly strong cases perfectly presented and logically argued, where everyone in the halls of justice and the country has said, “what the hell just happened?” following a decision. Do I think BIEL will get its approval? Hell, yes, but I’m biased, I’m a shareholder. What odds would I give? 90 – 10 for approval, or better, BUT, it’s the 10%, or less, that can bite you, you know where, when you least expect it. So, my learned friend, we now wait quietly and patiently, because very soon it will all be up to BIEL, as the FDA simply waits to receive and assess the BIEL application. Make any sense?
Hah - veto. Please advise Mrs. veto that she is the best thing in your life! You are not becoming old and cranky - pay attention to Mrs. veto. Takes a big man to realize that only a fool doesn't change his mind. You have my respect.
Hey fuj - thank you, very glad you're ok.
Ahhhhh yankee, thank you for your kind words. You should be in law school. I can assure you that Harvard Law School professors would no doubt appreciate you, as you soak up the knowledge. . . .
To wit, I am impressed you get it!
Now, the subliminal psychological aspects become rather interesting, as the plot thickens. You see, it is now the FDA itself that is suggesting IT create a new class to house the products. Therefor, by extension, can one not gently infer that the FDA will then receive applications from all manufacturers optimistically, as it is indeed the FDA who has crated the new class? Yes again, in my humble opinion. Therefor, the overwhelming inference may be that the FDA will now become a promoter of the new class because of its authorship? I think so.
Someone very, very, bright at the FDA has done some rather brilliant wordsmithing, it must not be ignored, so my take is the FDA is very serious and now gets the science behind BIEL's products and should be commended. he FDA did what it said it would, it hired experts who get the science!
BIEL should come out with a specialty item just for India - 'ActiPatch for Sacred Cows', - to protect the protected ones, thus following the tenets of Hinduism and so they will all be pain free. Also good for oxen and other working beasts of burden in many other parts of the world. Going up a narrow mountain trail sitting on a sure-footed donkey with sore hips? No! I want the one wearing the Actipatches.
Hey Truth & Super - thanks for the news on sold out in India.
Am I unduly concerned at seeing every SKU sold out, or is it just sales are starting to pick up and I shouldn't be concerned?
If not, that tells me there is an operational problem - service of supply is pretty rudimentary these days and I would suspect an inventory replenishment to get a distributor back in business is not challenging. Put 1,000 items on a plane today, now, and get er done, but don't have the doors closed.
Sold out here and there at Boots, with them having expended great effort to create sales? Totally sold out in India? Once a customer visits a site to place an e-order, you tell them you're not really in business? Nothing worse in e-commerce!
Does BIEL have inventory here? Staged somewhere in the EU? If not, why not. Sold out in the restaurant business is saying, "We have none of the food you want today, please select another dish." Sold out on your whole menu is "we have no food at all!"
As you say, it's history now as well. I suggested in the first paragraph of mine that you simply go back and read a few posts. Time is not a renewable resource for me; I have very little of it. By reading those posts and those of Tazzer, you have it all, number of shares depends on the price on the day of reconciliation, here's today's price, here are your shares, it floats. In the big picture, it's <$5Miillion, not much to keep a potential winner in the game.
Your research on ActiPatch versus Viagra is incomplete 7up - I've seen TV ads on Viagra where they warn users to see a doctor if something stays up for more than 4 hours, hilarious in itself.
But your report on the cost comparison seems to be a little short somewhat. Even at 2 hours per use, your unit cost with ActiPatch will be 8 cents versus $32.00 for the same 2 hours using Viagra, making Viagra 400 times more expensive. That would leave Viagra sales rather limp, don't you think? Pfizer would probably have to do something to prop them up?
Hey playfully - thank you for your kind words
Thanks Mary - here is more fun with numbers, just numbers.
But always remember, figures can lie and liars can figure.
Presumptions:
1. You, or veto, or anyone, goes to Las Vegas for one weekend and spends $3,000 doing so and loses $1,000 in the process by gambling. A $4,000 weekend.
2. Same people each risk the same $1,000 investing in BIEL today at $ .0026 to buy 384,165 shares.
3. On FDA announcement of creation of new class of devices, market reacts and BIEL runs at the average of the 2009 and early 2014 price increases of 37.125 times the buy price.
4. Current values - 384,165 shares @ $ .0965 = $37,125. Pretty simple. Great return. 37.125 bagger, the average of what BIEL has already done! Wow!
5. Pretending one is back in Las Vegas, no profit taking, price settles back by 50% and you reinvest your $37,125 to buy 769,231 shares @ $ .048.
6. On BIEL announcement that it has submitted its new 510K application, the market reacts again with another run, but less than it did in 2009 to the same event and BIEL runs at the average of the 2009 and early 2014 price increases of 37.125 times the buy price.
7. Current values - 769,231 shares now at @ $ 1.7917 = $1,378,266.
8. Now, with BIEL having submitted its application and still pretending one is back in Las Vegas, no profit taking, price settles back by 50% and you reinvest your current value of $1,378,266 to buy 1,538,462 shares @ the fallback price of $ .896
9. Here we go one more time. On an FDA announcement that BIEL’s new 510K application has been approved, the market reacts again with another run, but less than it did in 2009 to the same event and BIEL runs at the average of the 2009 and early 2014 price increases of 37.125 times the buy price.
10. Current values - 769,231 shares now at @ $ 33.259 = $51,168,111.
Aren’t numbers fun? All from the same $1,000 that one could, or is sure to lose in a Vegas weekend. Stranger things have happened and a run up of BIEL stock with an average multiple of 37.125 times has already happened – twice. But, what do I know, these are just numbers.
Hey veto - I guess you were off air for a few days getting over the Memorial Day weekend or you may not have had a chance to read all the posts. I even addressed one or two to you. I suggest you go back and read 39442 to 39450 to allay your concerns about the IBEX loan repayment structure, which is an industry norm.
Got some numbers for you veto - just numbers
During the run in 2009, BIEL went from approx .0040 to .129 cents for a 32.25 bagger. This was based on rumor of a BIEL FDA application, nothing more.
During the run in early 2014, BIEL went from .0002 to .0084 for a 42 bagger. This was based on the FDA proposing o create a new class of devices involving SWT and PEMF and based upon its stated increased knowledge of such things, the technicals, efficacy, lack of evidence of negative side-effects and so on. The FDA invited comments to its proposal and one must assume that comments were made by device manufactures with one bias and a set of facts and trial data about drug free and no negative side-effects, comments by manufacturers or nominees of chemical drugs with another bias and the facts surrounding negative side-effects, addictions, more deaths in the U.S. than by vehicular accidents, then comments by product users, and lastly by the usual dissenters of everything and anything, some whom would object to the presence of air and water on our planet if asked to comment on those apparently much needed contributors to our survival.
The primary difference in 2014 is that this is now the FDA totally running things. The FDA proposes to create a new device category. The FDA invites comments and the comment period set by the FDA closed May 21. Things are as they ought to be. No ego, no bias, no pump, no dump.
You and other Good Guys may recall numerous posts I made a long time ago, in which I wrote of saving face and a need for diplomacy and professionalism. They are a matter of public record and I have a copy of every post I’ve made, including those deleted. I believe we are seeing the end of a face saving phase and a number of parties proceeding forward diplomatically and professionally.
The secondary difference this time is that BIEL management has guided the company through a survival period during which shares were sold to ensure that survival. Why? Why not just let it go under? Because the Whelan clan has a few million dollars of its own money as skin in this game, to be repaid in shares at a future price to be determined. Hats off to the Whelans, they have skin in the game, why shouldn’t they be repaid?
The tertiary difference is that the management of the company has learned a lot of lessons and information it did not have the benefit of in 2009. Lessons and information about technicals, trial data, diplomacy and teamwork. BIEL now has a professional team of experts more qualified than in 2009 to prepare and present the 510K application case to the FDA. FDA door wide open, BIEL better prepared to walk through it.
The quarternary difference is that there are numerous other manufacturers in the SWT and PEMF spaces, along with BIEL as it presents its credentials to the FDA within a device classification that it is proposing it create.
Soooo, veto, how many bags full do we apply to the BIEL share price if the FDA enacts its proposal to create a new device category that will house BIEL’s products. How many more bags full when BIEL submits its new 510K application within the new FDA classification? And, how many bags full if, as and when BIEL receives ClassII approval enabling it to market its products here in the U.S. OTC? I may not know much veto, but what I do know for certain is that mankind’s capacity for capitalistic greed and profit knows no bounds. Thank goodness, because the alternatives I see in many parts of the world with no freedoms and absolutely no rights, really suck! So, armed with all the numbers veto, what is your guess as to the extent of any future runs on BIEL? 10 bagger? 50 bagger? 100 bagger? And from what price points do each of the possible runs commence. Do the math, according to your thinking and let me know, I would love to have your opinion.
OMG art - @ .0004 I buy another . . . . spelled gravy train
Thank you for this Rocker - much appreciated.
Apologies, if you felt I was implying you were "lying or being deceitful", not language I would use and certainly far from my thoughts earlier. I did, as I think I expressed, infer that you had substance and wondered what you were about. Now, thanks to your forthrightness, I know.
I agree fully on wariness regarding many BIEL snapshot moments. There many instances where I wondered how many feet would fit in one mouth. I actually put much of the fumbling down to inexperience and light on diplomacy. Add a pinch of 'Founder's Syndrome' and a dash of stubborn and you have a recipe for trouble, not necessarily disaster, as we've seen, but certainly trouble, like a cease and desist letter, thermal or non-thermal, alienating FDA staff - what!!! BIEL has the staff on board now to ensure that a 510K application is not submitted unless it is perfect in every way after review and sign-off by the entire BIEL team.
I am optimistic 'now', I wasn't for a long time. If I may be so bold, if this thing pops, and I believe it will, I would be happy if you got back into the water than not. Not suggesting you bet the farm or sell your first-born, but if you read the words "FDA issues order for new SWT device class in Federal Registry" and "BIEL receives FDA approval" and you're not long, you're late. Mostly, I am optimistic because the FDA is totally in charge of this process and it's their proposed new classification, not the wishful thinking of manufacturers or their hopeful shareholders.
As a major buyer of stock for a third party.......:)
One of the best things about iHub, in my opinion, is the exchanging of ideas between reasonable and decent people. BIEL did it in a less expensive way than you may be contemplating......to answer yours, yes......and..... no.
If the viability is high and the IP protection substantial, find good people who can bring funding, experience and common sense to the party. Good luck!
Wow Rocker - yup, share count sure is out of control and you're remaining on the sidelines - with your finger on your mouse repeatedly clicking the "Buy" button. From your post, I infer that You're experienced, so you know where this is going, just like the rest of us. Good luck!
Hi TAZZER and veto - re your posts - do you know of a more ideal way to finance a start-up company than for the founder to inject his own money? And, why shouldn't that financier benefit, just like any other? Have you, or would you, ever lend substantial funds without benefit? No. Therefor, I wholeheartedly disagree guys, what the BIEL structure shows any business person is that Whelan believed in the project he started, has persevered with it, put his own skin in the game, papered the transaction so he would be repaid on success and here we are. Nothing wrong with this financing, in fact, its a positive aspect of the company because it bound Whelan to staying in the game! Had Whelan come to me for an "Angel Financing" cash injection of $4.6Million, I would have demanded at least 60% of the equity in the company, perhaps started my negotiations at 80%. There is a huge wealth of information on this available to you, you may find it interesting reading. Hope this helps a bit.......
Thanks for the post TAZZER, 115Million shares at a strike price of 4 cents, to retire the $4.6Million debt, a price I kind of like. This methodology of financing of a company by principals or "family" members is so commonplace it's hardly worth mentioning, never mind all the drama I've seen on this subject. Oooooh, family involved in financing the very company it founded, must be dirty laundry, or fraud, crooks and embezzlement somewhere. Nonsense, it's such basic, basic financing 101 and if it's not recognized as such, one should register for the Financing 101 course!
$4.6Million is not a large debt and the overall financials of BIEL and its debtload do not represent the doom and gloom recently posted, for a company with a patented line of pain management and healing stimulation capabilities which will reside in the new classification proposed by the FDA. When the FDA orders in the new device class and BIEL files its new 510K application, hopefully to be approved, the financial picture will dramatically improve with OTC sales in the USA.