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I did 2 things Steve, in my desire to try like you and figure out WTF is wrong with BIEL other than Founder's Syndrome and the company not putting a proven winner in as CEO with a huge piece of the pie when successful. I followed your retail storefront theory a bit.
I watched the Dr. Oz show found on the link on the BIEl website. Stupid of me not to have done it before - I am more convinced than I was through personal use of ActiPatch on a sprained ankle that the company has a winner! Watch it, it is well worth the time.
Second, I then thought, why does the company not simply put 20,000 ActiPatch into Shoppers Drug Mart up in Canada on consignment? Health Canada has approved ActiPatch for OTC. So, I called my Canadian buddy, who sent me the ActiPatch originally, to see if he could find out what's up. He went to two Shoppers drug stores, one large, one medium. He told me many of them are apparently individually owned by the druggists, and was told the company does this kind promotion with new products! He was also told sometimes the chain will try to get an exclusive deal, but if the product is a winner, they promote it like crazy in flyers.
I suggest BIEL should consider this option to try and get traction in the Canadian market. Big pharma sells pills at $10 that cost a couple of cents, why would BIEL not do a consignment deal somewhere? Anywhere? Amazon shows 6 products in the BIEL line at $29.95, the cost can't be more than $5 maybe lower, who knows - put them into Canadian drug stores at 20 bucks as a promotional trial, give the store 12 bucks which is a 60% margin for the store and let's see WTF. In my world, doing something is always better than doing nothing. I'll support that doing nothing is often a prudent option - temporarily, but doing nothing for years while waiting for the FDA is inexcusable. And don't think that if there was one winner out of all the foreign distributors that we wouldn't know about like being slected runner-up to the no-touch award won by Boots the other night in London. C'mon, I'm tired of nothin. Oh, here ya go, and why not go to Boots, this week, tell the buyers you won runner-up to them in the UK for innovative OTC product and do the same thing in Boots in the UK on May 1st. Don't tell me large chains can't turn on a dime - they don't to be or stay 1st by doin nuthin for years! Wouldn't that be something? A winner in Canada AND the UK with the largest drugstore chains in both countries? Please tell me BIEL management would rather have no sales than those sales!
yours truly
Tired of Nuthin -Willin to try Sumpm
p.s. If Mrs. Whelan can't get the old boy going, maybe we can embarrass him to yup or get off the potty!
To your comment about 2 to 3 cents being a touted exit price - IMO, if BIEL gets to 3 cents, it will get to a dime, or more, because it will have been a result of one or more of five reasons:
- real progress at the FDA creating optimism for timely OTC approval;
- a major retail chain in the US, or one of the other countries where it is already approved for OTC sale, adds it to its SKU listing;
- the founder gets out of his own way and the company announces a dynamic new CEO;
- Gro-International is successful, almost a month since that announcement; and
- a merger, or acquisition by a major player in the pharma or device spaces.
BIEL ran to 12 cents plus a few years ago on fictional rumor, if any 2 of the opportunities above become reality, I'm happy shareholders will win. As you essentially said, this is a company ready to leave the nest and fly. How many companies do not have the product line BIEL has?
Count me in with you on this Steve - there is every reason why the price should be higher, much higher, and 4 years ago!
I have heard nonsense about Boots in the UK and a chain named Shoppers Drug Mart in Canada, thousands of stores combined. If I'm the Whelans, I put my complete line into those chains, on consignment, or at promotional pricing - why not? What's to lose? Diddly, that's what.
As I have written in the distant past, I saw this as a classic case of 'Founder's Syndrome'. From Mary Whelan's recent sensible e- mail response, sounds like she has good common sense and perhaps should have a louder voice in the Whelan clan. Get out of your own way Founder Mr. Whelan, let Mary make you wealthy. First thing she'll do is hire an experienced CEO, I'll bet. I wonder, was Mary behind the Gro-International deal? I have heard the interviews of the husband and he seems knowledgable, talking the talk technically, but his aura, his 'presence' is not electric, seems to me something is missing. bIEL needs a dynamic leader. Anything less is irresponsible and self-destructive. Who doesn't get out of his own way if something hasn't moved forward in years? A fool, but even a fool can change his mind. Only a fool doesn't change his mind!
So, help me understand Stock - who bought over 3.5 million shares today and 233 million shares since Valentine's Day and counting?
Hey super - thanks to you and kid for posts about the embarrassment of how BIEL is being dealt with here at home.
When I said "How embarrassing for the USA and the FDA.", they are us, we are the USA citizens who put em there.
When I wrote "Shameful", please note that it was after writing - "How many other situations like this are haunting the halls of the FDA or DC?" Those august bodies are also us, we citizens put those in DC in place.
Anyone who thinks for one second that it is OK for the State of Maryland to grant taxpayer funds to BIEL to advance its business and then be nominated for a business innovation award in the UK, a foreign country, while the FDA denies BIEL OTC approval for its products which have strong efficacy and no negative side-effects here in the USA doesn't get it. And Health Canada in our neighbor to the north approved BIEL in what year? After how long? All these elements, to me, are absurdly shameful! I feel better.
The really laughable thing is that the State of Maryland issues a financial grant to BIEL for the promotion of its products and BIEL is nominated for an award in the UK, instead of the USA?
Looks as if the Maryland money was successfully spent! But, it makes us look very foolish here. How embarrassing for the USA and the FDA.
Had BIEL won the award Boots did, would President Obama have made a phone call, heard on CNN and touted on CNBC, or the WSJ? How many dozen DC and Maryland politicians would have squeezed into the photo Op of the award with BIEL employees? We should be encouraging and praising American innovation, not crippling them. How many other situations like this are haunting the halls of the FDA or DC? Shameful.
Thanks fuente - I was late into the office today - sorry for wasting your time all.
I sent an e-mail at 4:15pm eastern to Jenna Lawrence of OTC-Bulletin.com hoping to hit her cell phone and presuming she was at the awards dinner at the Park Lane hotel, asking her to advise if BioElectronics was an award recipient. Haven't had an answer
Hi Jenna - I assume you are at the Park Lane at the Awards Dinner.
I have a wager with a friend of mine that BioElectronics will win an award tonight.
Would you please let me know as soon as possible so I can ridicule him if they win an award?
Thanks very much Jenna
Cheers
Lee Simpson
Manhattan
Thanks to all for info on my questions - it is clear that Whelan had little experience, if any at all, at taking a product line through the FDA process - maybe he got bad advice, that is often the case. In any event, BIEL is still here and I wonder if indeed FDA did hire 200 people to handle device applications. Seems to me that if they had, they would have approved or cleared more than 1 product in 2013. Results are what count.
I may be completely on the wrong path here and would appreciate help understanding som edue diligence and research.
On the FDA website there is a page of "Medical Devices Cleared or Approved by FDA"
http://www.fda.gov/MedicalDevices/ProductsandMedicalProcedures/DeviceApprovalsandClearances/Recently-ApprovedDevices/ucm335803.htm
There are links on the left for each year.
At the top there is a link entitled: Recently Approved Devices and on there it states:
Recently-Approved Devices
Recently-Approved Devices: Get e-mail updates 1
The products listed in this section include some of the newest medical technology available. The products in each list contain information about what medical uses the device is cleared or approved for, when it can be used, and when it should not be used. This information, along with information from your doctor and other sources, can help make you an informed participant in your health care.
Please note: The lists in this section do not include every approval. Complete lists of different approval activities can be found in the following sections:
• PMA Approvals2: New or high-risk medical devices that require a more rigorous premarket review than the 510(k) pathway.
• 510(k) Clearances3: New devices that are "substantially equivalent" to a device that is already legally marketed for the same use.
• Humanitarian Device Exemptions (HDE):4 Devices that treat or diagnose a disease or condition that affects fewer than 4,000 individuals in the United States per year.
My predicament - I can’t for the life of me understand why the company didn’t simply request or apply for approval under a 510K given that ActiPatch and ALLAY are exactly the same system as RecoveryRx which had already been approved for sale by prescription and at least get the products on the market in the US and apply for OTC later. And if that was doable then but management screwed up, why not do it now?
Also, I noted that in 2012, month by month, there were device approvals numbering from January – 4, 9, 3, 5, 3, 3, 4, 1, 4, 8, 4, and 1 in December.
However, in 2013 approvals or clearances number 1 in January, zero in February and zero so far in March. Is this indicative of the ‘device’ turmoil at FDA and the Administration simply trying to catch up in a new sector where really skilled people may be in short supply? The numbers seem low considering what I expect would be many thousands of applications for approval or clearance of devices by companies from all over the world.
Most of their shares? Then, if the Whelans sold off most of their shares, who owns 2 billion shares now?
What I want to know is what person or corporate entity bought all the shares traded since Valentine's Day?
I don't think you're dreaming veto.
I know what ActiPatch did for me and I've asked several times what people experienced at such stock plays speculate BIEL might trade at IF, and I know it's IF until it's a reality, the company receives FDA approval for its products to sell in the OTC category in this country. Who knows if 10 cents is more accurate than a dollar?
Is this the start of something?
Almost 11 million shares traded after half an hour.
So what if the company is selling them to finance its forward progress - someone else is buying 'em.
Thanks for the earlier compliment on my review diarch.
One can see from the link you provided in your last post that the informative article you linked to substantiates my earlier comments about suppository medication for pain relief and other issues in the EU currently being ahead of us in the USA. It avoids negative side-effects and organ damage. It also seems to me to be a natural progression that people in the EU will gravitate away from suppositories to patches. Another huge opportunity for BIEL.
If only the FDA could catch up in the device pain relief field, it would help millions of people to avoid ingesting chemicals, not just the shareholders of BIEL.
Hey fuente - i was only thanking and commenting on stock's post.
My only question was would he/she please advise when he/she jumps back into BIEL.
Thanks for the offer to answer my question, but I think the only one that can do that is stock
Perfect diarch - at 20 cents, or higher, I'm a seller. At these levels and considering all that's happening, on balance, I'm a buyer.
Look at recent events and current status:
Public meeting Friday April 5 to discuss BIEL type devices, hosted by FDA;
Device space is still new at FDA, may not have skills in-house to assess;
Discussions with/at FDA are about how/what/where to designate BIEL products, not whether they are efficacious or safe;
Deal with Gro-Internationalaround Feb 14 to market in EU and Africa;
Gro-International owned and run by ex-P&G exec 25 years;
New J&J president is ex-director of J&J devices division;
DID you know this? EU folks take many drugs via suppository, via tissue absorption, rather than have the drugs going through their entire systems. They are light years ahead of us in terms of safety;
BIEL is a tiny company surviving by selling stock;
Products work extremely well, personal experience; and
Not one negative side-effect, ever.
Hey stock - good post - I think your advice and experience are going to drive the price lower, in which case I am going to buy more because I feel the positves overwhelmingly outweigh the negatives.
Just as you complained of many times, the company needed to enter into clinical trial deals and that's been accomplished. Anyone in pharma knows such trials take place all over the world and it to is a market of supply/demand and costs. Verifiable results through peer review occur globally, nothing to do with which country the trail eas done in, in most cases.
Would you please advise when you jump back in? Thanks
Thanks again for your quick reply and clarification mad - gives me time to what I want to do.
Enjoy your weekend
Just a little confused mad and hope you can clarify.
"Birdie just said next weeks"
Was that intended to mean -
Next week?
Late next week?
In next week's PR?
After next week's events?
in the next few weeks?
When you typed - just said next weeks - it kind of left it hanging.
Cause your first post on this last Monday, the 25th, said
"little bird told me great news ahead end of week"
Which I inferred mean yesterday or today. Understanding of course that rarely does anything happen when we expect it to.
Thanks very much
Read the one you refer to horseman, but was not in a place where I could post - made sense and can't figure why it is now gonzo, but ditto Bingo!
Go BIEL!!!
Almost 15 million shares traded again today.
Now, if the news at the end of the week and the next 3 months gave us FDA approval and marketing results by Gro-International, I would be in heaven to see the decimal point moved twice and 16 cents.
I know I'm dreaming and it's not a perfect world, but dammit, the BIEL product line screams success, why not dream? With Andres Wile as the new President For Life of Cuba, maybe BIEL gets some traction. Dream on! I know.
Hey fuente & Super - someone asked mad for his source many months ago and he wisely declined - smart...
Hey mad - birdie healthy and feeling fine this morning?
Señor Andreus Wile
Cuban Presidente for Life
it is Cuba - Castro stepping down to make way for Andreus Wile
Gro-International in Geneva and BIEL in Maryland must have been playing phone tag - sell/buy, buy/sell - it's a time zone thing.
Fact is, a party or parties paid a chunk of change for over 9 million shares before noon, our time.
Notwithstanding that BIEL traded almost 140 million shares in the previous 6 trading sessions, 9 million shares of trading should have kicked it up a few notches.
It'a new week and more zero positive reaction in share price to uncharacteristic trading volume. I still want to know why. I've read all the stuff about dilution, but the reality is that if it is straight dilution, then it is also uncharcteristic, so the same 'why' question remains.
:)
719,105 shares 3 minutes into the session?
GI? P&G? Someone closely associated with one or the other, or both?
Or someone who knows...........
Hey fuj - Look at the 'statement behind the statement''
For Paul Knopick to answer your very direct question, was to answer your question, but sideways.
He knows exactly what is going on, but qualifies his answer. He knows, but he finds convenience in not being able to answer with absolute certainty, hiding behind not knowing 'first-hand'. Rather, he knows because of internal talk at BIEL, but NOT because he has spoken with the acquisitor face to face, first-hand. In other words, he knows second-hand, which makes it not for certain. I know, it's splitting hairs extraordinarily, but it's what we humans do when we cannot ask or answer direct questionsdirectly. "what are we going to do tonite honey?", means you have a plan for the evening - think about it.......etc.
One poster scoffed at me for being over the top in looking for the conspiratorial in one of my posts - that is the way we humans behave, by decorated shreds of truth lines. I will say no more fuj, except ask Paul many questions. He is a good guy, knows exactly what is going on and takes his role seriously as a communicator for the benefit of shareholders, but is restricted from saying too much. Please continue the dance, I will continue to read the music. Read my last 20 - 25 posts, then how some very astute posters in the last 36 hours have bought -in, as it were, that something serious is up. This is not rocket science, it is just human behavior and responses, combined with parties simply negotiating the best possible deal today to move BIEL forward, with win-win agreements now for maximization of upside later. I'm sure you get my drift - keep asking questions.......
What I know for sure, guaranteed, no debate or argument is that if one uses an average price of $ .0017, then approximately $238,000 have changed hands since the Gro_internalional announcement came out Feb 14. I also know that is higher than average in terms of funds raised by dilution on a monthly basis in the past 2 years.
If we might all agree on these 2 points, and by extension that something is up, then all we need now is the who and why.
And we may never know from the financials, remember figures can lie and liars can figure.
Now you're talkin sense kid. Seems, by your last sentence, that I'm getting closer to the truth of what's really happening. Remember, this guy's name is not Andy Whelan, it's Andy Wile. He has been jerked about by the FDA process and rulebook, either by his own hand or not, and must move his company forward. Who really cares - we shall see.
Thank you fuente - yessssss
And, by extension, if Whelan sold 23,725,826 shares into a static bid on Feb 14, the very same day that the Shareholder Update came out about the Gro-International deal, just to raise monthly expenses, do we not assume that he would have smiled and said, "I got em hooked now, I'm gonna raise the ask and stay ahead of the rush to buy shares, based on the announcement?" thereby raising more dollars?
Of course he would have. But he didn't! He, or his straw-man, family members, whomever, continued to sell another 115 million shares into the bid and it's still at .0016!
And I say Super that it is Whelan, or whomever, on his behalf, selling into the bids - someone somewhere has undertaken this - it is not by accident. Is it legal? Not my issue. If someone agreed to buy 140 million shares (less the normal volume) in 6 sessions to raise cash for BIEL business development needs, then I should buy more to help the cause.
Wade in here folks and convince me there isn't something up. Dilution for normal expenditures, which should be stable and recurring amounts as there are essentially no substantial capital requirements? I also don't just normal dilution because what would have changed in BIEL's or Whelan's financial circumstances, suddenly and in the middle of February 2013? He's been diluting for at least 18 months to keep the lights on until he caught a break. What is it?
Neither can I, not with any certainty Rich, but your refined listening skills and those of a number of other good guys here are now turned on to saying, "can't call it, but something may be up here"
I am a dealmaker with a pretty good nose and here is what I would have said to Whelan, who without question must desperately want marketing experts taking the BIEL line forward 'anywhere' because most, if not all, have failed him so far globally! Clearly it is not enough to have a line of pain treatment products that is drug-free,side-effect free and with great efficacy; the line has to be professionally managed and marketed and we have not seen that.
"Whelan, if you want my skillset and 25 year career experience with P&G in the EU and Africa etc., then you need to put some skin in the game from the hundreds of millions (billions?)of shares you have received and paid zilch for - sell a couple of hundred million shares at these prices, I will buy them, you put those funds realized into the game and we will go forward."
If anyone thinks Whelan did not have to put skin in, that is niaive. He could only have been negotiating from a very weak position with little or no leverage. And, if anyone thinks Gregor did not drive a hard bargain, that is also naive. Only thing worse would be if Gregor did not negotiate hard, which would make him naive!! I doubt that was the case somehow. We will see.
Hey Rich - didn't you post many months ago about what a company must do to move to the NASDAQ bulleting board OTC:BB? Could all this action be part of a move forward? Raising capital, Gro-International deal, FDA, etc.? Just trying to figure out what's up, like you. Thanks
Hey 3P - I am long shares, but try to be balanced, not too optimistic or pessimistic, and have been critical of management, but, like you, it doesn't require beating that aspect to death.
The facts are - price is down, way down, but over 113 million shares traded in 5 sessions and another 19 million plus today is off the charts, so something is in the wind. One or more entities are buying shares. Do I care if the price drops while Whelan sells 500 million or more shares? Not for one second as long as he is raising funds to advance the company and the price rises considerably based on that advancement. There is too much coincidence between the deal with Gro-International announcement Thursday Feb 14, the Paul knopick answers to fuente's questions and trading of over 132 million shares in 6 sessions since with buyers for every one of them. Something is up and on balance it ain't negative!
Positive and negative speculation can cheer or whine all day, but no one knows and no one is talking so far. One or more of the good guys here had access to Whelan by phone - is that a way to proceed toward knowing?
Thanks for your good work and quick response Stock.
Further to your message about everyone having an agenda - mine is that I want BIEL to succeed and the share price to rise considerably.
I know first-hand that the products work, that they are drug and side-effect free and it is my opinion that the FDA should immediately approve them for OTC sales in the USA similar to Health Canada and numerous other countries.
I want to share that I am not and have never been Andy Whelan or Paul Knopick as I have been accused of being and am not in their employ or received any thing from them for promoting BIEL.
I am not a promoter, I am a shareholder and have no other agenda whatsoever. Thanks again Stock. GO BIEL
Stock - I'm positive there was enough information about the FDA denial of the BIEL application and the appeal process, the scientist who attended the FDA meeting to present BIEL's case and the involvement of the Maryland Senator that everyone here knew.
You're right Stock
Hey Stock - perhaps you can help me. You are a moderator of this site, as is Casper the ghost and I respect you both for your input as posters and your efforts to moderate the site.
Yesterday and early this morning I posted 3 messages, all on topic, all to do only with the company. One of them was a response to your post about BIEL now having 3.5 billion shares versus 350 million when it went from $ .0040 to 12 cents plus.
I opined that before it seemed to me that it could have gone to a buck or more a couple of years ago if BIEL had received FDA approval and got its act together then, and further opined that that might be equivalent today to 10 cents or more i.e. 1/10th based on the shares count today. I also said I would be happy with anything from 10 to 25 cents as it would still be very profitable.
For some strange reason, i cannot see the posts I put up. Would you and Casper please help? I enjoy the exchange of ideas, but if constructive and fair posts are to be deleted, why bother?
Thanks a lot.