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yup, as I said, time to mortgage the wife and kids, find a way my man. Work hard, make money, average down = save butt.
Then, buy back wife and kids....maybe.... maybe not.
Don't show to wife!
Sorry gMan, don't recall seeing that. If I'm that far down from $.08, and with what BIEL seems to have going on at the FDA, it may be time to mortgage the wife and kids, or we take up a collection for madp to average down. He would then be elatedp.
Hey Mad - averaged at .08? Certainly not to draw attention to that, but would it not make sense to average down from there with a few million shares here? 3 million shs - $12K? I'm not selling or pumping anything, just asking...
That's what I would do based on what I know about the products. I don't see anything holding BIEL back except time at the FDA to arrive at the approvals or for Whelan to sell the company to a manufacturer of acetaminophen wanting to hedge their bets with a drug-free pain technology.
Also, I was interested to hear yesterday, in the Whelan interview, confirmation of what I read in the recent bone regeneration study that not only does ActiPatch deal with pain, but it also stimulates bone growth as well. Is that new? I had not heard Whelan speak before, but the guy seems to know his stuff. I think the study was done in Chicago?
Thanks for the info Harv - I'm curious, as I'm sure many are, as to the logic behind Gman saying multiple dollars pps - can't say he'as wrong when BIEL gets the FDA approvals it is seeking - your thoughts?
Hey Gman - I came in here a few months ago as a naive poster with an incredibly badly sprained ankle from tennis - my doc gave me crutches and Tylenols and an old college classmate up in Toronto sent me some Actipatches by Fedex. I dropped the crutches off with my doc a few days later and showed him the ankle. He couldn't believe it - no pain, walking and healing fast.
Then I checked out the company and started reading here about how the CEO was an alleged bozo, everyone was unhappy and maybe justly so. I bought the stock and believe that with the FDA approval in-hand for the post-op eye surgery device, and given that there has never been one negative side-effect from the PEMF technology, how can the FDA not approve the other devices for OTC? Would that be to say they should not have given approval previously?
Then, throw in the fact that the previous director of J&J's device division just made CEO last month and tell me that guy doesn't know the threat to Tylenol sales (and profits) that BIEL represents. He knows about BIEL, and if he doesn't, he should be canned when the company gets its FDA approvals.
Just an added thought-I was in a Walgreen's-can anyone tell me how many manufacturers there are of Tylenol copycats now?
Is there any way of determining if the current buying is by individual or corporate investors and what do you think the potential pps might be when the approvals start to come out? Thanks
ohhhh Doodles - Sausage is correct - a 41% sales increase - same % increase as the pps today..... 41%
Here's hoping this is the beginning of positive things after the interview of Whelan.
Couldn't agree more. Back from bus in EU, but, on reflection, prefer to read posts and wait patiently for FDA approvals, rather than even ponder responding to kiddie bashings
I think I copied and pasted a whole article 10 days ago on bone regeneration stimulation - maybe this one, maybe another one, can't recall. But it is good news, it's all good news when positive info comes out.
overseas Sausage - no time, as I cram stuff into 18 hr days to lessen time away
Hey Supernova - it does or, rather, did. A buddy of mine had a father-in-law, now deceased, who had teamed up with some people in Gernmany, he was born there, and they designed and produced, in limited quantities in Germany, a pad that went under the mattress pad and bottom sheet for severe back pain and therapy. It was a rubberized, very thin pad, brown in color, about 24 inches wide and about 72 inches long, one wire in, thru a circuit, and out again to an adapter/control box, also brown in color, about 4" X 3" running on normal 110 volt.
Because the thing was a few years old, one could see there was the outline of a continuous thin wire pattern back and forth side to side the whole length of the mat.
The father-in-law had a few sent to his winter place in Clearwater and when we visited him in the late 90's, my buddy gave me one from the pile to try for a couple of weeks. I couldn't "feel" anything and returned it. There was a small orange light on the control box for on/off and he mentioned it involved electro-magnetic current - he definitely used those words, not PEMF or the words 'pulse' 'pulsating'. No mention of Mhz. Never spoke with the FIL about it, sadly.
My buddy swore by the thing, apparently as did many other users. Don't know if it ever went commercial.
I am sending him an e-mail as to further details.
Maybe BIEL management members know, I have no clue. If I were involved, the lines of communication between J&J and BIEL would already be open. And a few other chemical painkiller manufacturers.
I posed a couple of months ago what the J&J board meeting would sound like if BIEL gets its approval on ActiPatch and ALLAY and someone is asked by the directors why J&J wasn't all over BIEL as a hedge against the two products cutting into Tuylenol sales. Oooooops, sorry boss, had no idea.
And here we are a couple of months later with Alex Gorsky, who until his recent promotion to CEO headed up the J&J Device Division. This could become a best-seller if BIEL gets the approvals.
It would seem that BIEL management may have learned its lesson, to sit patiently and quietly while the FDA goes through its approval processes. Better than the CEO apparently allowing himself to be manipulated by the press, TV and others into making nutty statements like next week, next month and next quarter, don't you think?
The rest of BIEL probably told him to sit in his office, turn the lights off, unplug the phone and be silent and be still. I suggested a while ago, in hindsight I know, that he should have kept his comments to a hopeful and expectant, absolute minimum, without giving timeframes. Maybe they listened?
Meanwhile we sit patiently waiting for decisions on ActiPatch and ALLAY but I think, personally, there should be no impediment to FDA approvals because no one has come up with one single adverse side-effect caused by the already approved RecoveryRx technology or any other reason.
4 months is long enough to get out....
and on Alex Gorsky at J&J?
Wow - over what period and then what happened?
Any further thoughts re Alex Gorsky, J&J Device Division etc.?
Hey fuente - I went to the BIEL site to check for any announcements and saw the past announcement re an upcoming article in the Journal of Foot & Ankle Surgery. Went there and they want 25 bucks for the on-line article put up on the net in Feb. I also went back here looking for it and saw a post that it was positive and it has 60,000 subscribers. Did you or ImRich or anyone else happen to read it or see a copy here?
Thanks
Also put another way ddly, you are suggesting that people will not use a device instead of a drug. I wonder how large the J&J devices division was 10, 20 or 30 years ago, or if it even existed then? People in this country are becoming more and more aware of the downsides of big pharma drugs.
My opinion is that if you are a woman who has lived with the negatives of using drugs every month to control menstrual issues for years and you can put on a simple ALLAY device, you will grab at that opportunity to positively deal with the ripple effects of drugs on yourself, family members, colleagues at work and friends.
I sure hope big pharma is involved cause if I'm Alex Gorsky, the new CEO over at J&J, who, until his recent promotion, ran their device division, I want to own a company which already has FDA approval on one of its devices which affects my Tylenol pain drug sales and has applications before the FDA for ActiPatch and ALLAY for Menstrual pain and cramping.
We also know an FDA advisory committee recommended limiting or stopping sales of drugs containing acetaminophen because of liver damage. Look at the data below on how many drugs contain it and the use for menstrual issues, which ALLAY deals with, chemical- free.
Just found this on Wikipedia....
"Acetaminophen causes three times as many cases of liver failure as all other drugs combined,[14] and is the most common cause of acute liver failure in the United States,[15][16] accounting for 39% of cases. While this generally occurs through overdosing,[6] the window of toxicity can increase at lower than toxic doses when acetaminophen is combined with alcohol, especially in heavier drinkers, or those with compromised liver function as a result of alcohol use.
Acetaminophen is metabolized in the liver, resulting in a by-product, N-acetyl-p-benzoquinone imine (NAPQI), that can damage liver cells, but is typically converted into a harmless substance by an antioxidant glutathione. However, large doses of acetaminophen overwhelms the body's supply of glutathione, resulting in destruction of the liver cells.[19]
People who have the highest risk for Acetaminophen related kidney failure include: heavy drinkers (three or more drinks per day), elderly men, and persons with pre-existing liver or kidney damage.[20]
A study published by the Journal of the American Medical Association in 2006 suggests problems even in healthy people taking the pain reliever as directed.[21] Healthy adults taking maximum doses of Tylenol for two weeks had abnormal liver test results. Dr. Neil Kaplowitz of the University of Southern California, co-author of the study, said, "I would urge the public not to exceed four grams a day. This is a drug that has a rather narrow safety window..."[22]
According to a preliminary study mixing acetaminophen and caffeine may cause liver damage, especially in heavy caffeine drinkers. Researchers discovered that caffeine can triple the amount of, N-acetyl-p-benzoquinone imine (NAPQI), the dangerous by product which destroys liver cells.[23] This reaction can also be caused by large doses of painkillers that combine caffeine and acetaminophen (e.g., Anacin, Excedrin & Midol). These products are often used to treat migraines and menstrual discomfort. Dr. Sid Nelson, a professor of medicinal chemistry at the University of Washington said, "Caffeine can interact with an enzyme that can form a toxic metabolite of acetaminophen in such a way that it increases the formation of that toxic metabolite".[24]
Symptoms from an overdose of acetaminophen typically appear after 24 hours, or in some cases up to 48 hours, however immediate treatment prior to the onset of symptoms can greatly improve the outcome. The antidote to acetaminophen overdose, N-acetylcysteine (NAC), is most effective when taken within eight-hours of an overdose.[25] Due to the delayed symptoms and the importance of immediate treatment, overdoses of acetaminophen kill about 12% of those who seek treatment.[17] Typical symptoms range from nausea and malaise to extreme upper abdominal pain in the region of the liver.
Tylenol is only one among many popular medications containing acetaminophen, but few users realize that it is contained in hundreds of other pain relievers and cold remedies, and that combined usage has a cumulative effect. Fifteen percent of accidental overdoses involve the simultaneous use of more than one product containing acetaminophen.[26] Products from common brands include acetaminophen: Excedrin, Midol, Theraflu, Alka-Seltzer and NyQuil, as well as prescription narcotics such as Vicodin and Percocet. Following the recommended dosages for each, but in combination can far exceed safe limits for acetaminophen intake.[27] The manufacturers of Tylenol recommend, "You should not take two or more products that contain acetaminophen at the same time."
Let's all hope big pharma is involved and looking closely at BIEL. What would a controlling interest in BIEL cost? Thanks very much for the thought provoking post doodles
Hey ImRich - thanks for the link. It contains what may turn out to be critical information to help with investor patience as to the FDA approval process.
1. The article was published March 21 2011
2. If one looks carefully at the third-last paragraph, De Novo apps were taking, on average, 241 days, plus a doubling with the 510(k) review ramifications for a total of 482 days - average and sometime before March 2011. If one adds 72 days (average increase over 5 years) and tacks ion another year's worth, it comes to 554 days-aveage! If the numbers are escalating, or the internal process bogs down at FDA, the number will be higher still. Lots of variables and unknowns here. My question here is what might that number be now, a year later, plus presumably more device applications in the system between the precise time the 482 days figure was calculated and when the article was actually written? Even that variable could mean many days added.
3. The last para is significant in relaying the well known issue that applicants have no way of determinijng where they sit in the app process. Where do you think BIEL may be?
I am using the assumption that approval will come because of the existing approval on RecoveryRx and no one has made mention of any side-effect or other reason why ActiPatch and ALLAY will not receive FDA approval.
I am not looking for manipulative justification here, simply looking for rational thinking in what might the case be in the time it takes FDA to approve a device now.
Thanks very much for sharing this.
ARTICLE PUT UP BY IMRICH
What You Don’t Know About De Novo – A Primer For Medical Device Companies
March 21, 2011/ FDA Medical Device Regulations, Medical Device Blog, Medical Device Market
At MDCI, one of the most frequent questions we field from new medical device companies relates to the FDA’s “De Novo” process. In fact, we get so many inquiries about the De Novo process that we put together a post that addresses the history and function of the process and offers some guidance regarding its viability as path to market for medical device manufacturers.
The De Novo process has been around since the implementation of the FDA Modernization Act of 1997 (FDAMA). The FDAMA was intended to help improve the efficiency of bringing low-risk medical devices to market, allowing for simpler reclassification of devices that were classified as Class III due to the lack of a suitable predicate. The section of the FDAMA that handled this aspect of medical device classification (Section 513(f)(2)) became known as the De Novo process.
De Novo is a two-step process that requires a company to submit a 510(k) and complete a standard review, including an analysis of the risk to the patient and operator associate with the use of the device and the substantial equivalence rationale. Once that has been accomplished, and the medical device in question has been determined to be Not Substantially Equivalent (NSE) by the FDA, the product is automatically classified as a Class III device. The manufacturer can then submit a request for evaluation of Automatic Class III designation to have the product reclassified from Class III into Class I or Class II. The FDA will review the device classification proposal and either recommend special controls to create a new Class I or II device classification or determine that the product is a Class III device. If FDA determines that the level of risk associated with the use of the device is appropriate for a Class II or Class I designation, then the product can be cleared as a 510(k) and FDA will issue a new classification regulation and product code. This also adds the device in question to the predicate pool, which in turn broadens the market for other medical device companies considering products in a similar therapeutic area. If the device is not approved through De Novo, then it must go through the standard premarket approval (PMA) process for Class III devices.
The number of FDA NSE determinations due to the lack of a suitable predicate is very low for those low risk medical devices that have the potential for reaching the market via the De Novo process. Medical device manufacturers are attracted to the cost efficiencies associated with the De Novo process when compared against the investment and post-market FDA oversight associated with a PMA. Unfortunately, the time to market for devices eligible for the De Novo process can be very long.
FDAMA calls for the FDA to review and return a decision on a De Novo reclassification submission within 60 days of receipt (the initial submission must be sent by the manufacturer within 30 days of receiving NSE notification). In practice, however, the amount of time taken to review De Novo requests by the FDA and issue the special controls guidance has risen from 62 days in 2006 to 241 days since 2007. Tacked on to the 510(k) review times, devices traveling the De Novo pathway average 482 days of review time from beginning to end.
Further compounding the delays associated with De Novo is the fact that the entire process resembles a procedural “black hole.” The FDA is not required to provide any updates concerning the status of a De Novo application, nor is there any simple way for medical device manufacturers to track a De Novo submission on their own.
De Novo is rare in the realm of low-risk medical devices – a mere 54 products took this particular route between 1998 and 2009. Given the extensive delays associated with the process, MDCI advises medical device companies to consider all other market approval pathways before deciding on to pursue a De Novo reclassification.
END
Should I apologize now? Didn't mean to open a can of worms or waste anyone's time on the predicate concepts, but your response was interesting Walker.
Seems to me that good people like Fuente, ImRich, the Sausage, Walker and many of the rest here are thinking hard about various issues and contributing positively and boodles wades in with negativity. Too bad, might have something to contribute. As wisely suggested, best to ignore, I guess.
Thanks very much for the feedback - so, the bielstock.com issue is just a re-hash of the dialogue found in and around post #18417?
Conclusion - not part of BIELcorp.com - meaning someone went to an incredibleamount of effort and some expense to author and ftp a website. Wow, who has the time and money to do that?
so, this could be the often repeated issues with websites not being thoroughly edited for errors - and being loaded up on the internet while incorrect. If this is an error or mis-statement, it must be corrected.
Get on it BIEL, otherwise you may get another letter from the FDA asking you to do so. Like so many things, it's in the details. You guys are managing a public company doing business with the FDA - therefor you must get it right.
Fuente - please confirm from your and Sausage's dialoge - "no predicate device" existed" I assume means that the FDA advised the company that no similar device had been submitted for review and approval or rejection?
If that is the case, would RecoveryRx not have qualified as a predicate device? And from the same company using the same technology?
Or, is it a matter of the FDA classifying the different indications in the ActiPatch and ALLAY applications separately that make it an accurate statement that there was no predicate device for those latter indications, i.e. different from the post-op eye surgery indication of RecoveryRx?
Didn't intend to muddle in - hope these questions are clear.
fuente - might the company have already agreed in meetings with the FDA to tone down the claims wording in their submission for approval?
Hey Sausage - could be employee run, with company approval too.
Some curious things about the bielstock.com website:
1. The bielcorp.com logo portion of its home page is in biel_corp.htm, a file built and owned by BIEL, whereas the logo on bielstock.com is simple html text.
2. The entire corp site could be file-sucked and copied in segments wherever. Why was this not done if bielstock.com is corp operated, or employee operated, or even investor operated for that matter?
3. Tom Desmond over at LocalConstructionPros.com may have designed the stock website - it is a site for local contractors, but also has a website design service for those contractors.
4. both corp andd stock websites are running on godaddy servers, but different servers - significant? Don't know.
5. If a pro designed the website, why are there typos on the Home page? 7th paragraph in the sentence beginning "The company has applied" - corporate needs the word "to" in front of it;
and the hotlink panel at the upper right - "Prementrual" is mis-spelled - should be Premenstrual and I think it can be hyphenated or not. I happen to think Pre-Menstrual looks better, more crisp. I didn't check the 'stock' site further.
Whoever paid for this work, should not have received the product this way and these errors should have been caught by editing before loading the site up live.
Pounding out posts here in between numerous other tasks we all have to do in a day is one thing and full of typos - paying for a website is another matter.
However, the exposure is pretty good.
Hey Anthony-nice hit. Did you sell all your shares? Trading at 1/10th previous entry price now.
BIEL now has applications into the FDA for approvals on ActiPatch and ALLAY for women without prescription. As you know, they'd had approval for RecoveryRx by prescription for years when you bought.
Many believe they will receive FDA approval in due course and no one seems to have come up with a single reason why they won't.
It may be an opportunity for you to take your profits and load up. If BIEL does get FDA approval, your previous 5 bagger will seem like peanuts. A repeat would be one cent, some are talking anywhere from 20 to 50 cents. The dilution is sorta what DC does printing money and the US still has a heartbeat.
I suspect that shopping TV entities in Canada and the UK take a healthy piece of the sales revenues, without up-front money. So? I would make that those deals for a while to get my product line out there.
If BIEL uses an attractive female celebrity who presents the ALLAY story well, give her a piece of the sales, the show gets part of the deal and BIEL builds a 'Brand".
Same for ActiPatch and other products that BIEL receives approval for in Canada and the UK and elsewhere. Even if the company only covers its costs and breaks even, early on, who cares? If the sales come through that medium, word of mouth will create broader interest and momentum and the retailers will soon follow.
great comment GoodDog - santiy prevails! Woof
Great positive, balanced, sane, businesslike post sausage:
May I add?
BIEL might assess signing up a celebrity woman for ALLAY and a pro athlete for ActiPatch, give them a percentage of sales generated and have them promote the products in Canada and the UK on QVC or shopping TV channels in those countries and mention FDA applications. What's wrong with that?
My buddy in Toronto who sent me the ActiPatch for my sprained ankle tells me that Canadian and American viewers watch each others TV programs along an unprotected 3,000 mile border-only one of its kind in the world. He tells me that a show called The Shopping Channel up there is owned by Rogers, the largest cable company in Canada. I don't know what the population in the US might be along that border, but Americans can call a Canadian phone number and the Canadian distribution system could Fedex or whatever to the customer. What's wrong with that? Wouldn't those steps help by simply selling ActiPatch and ALLAY at introductory pricing for a while, also thereby driving internet sales and building a 'Brand' in advance of a retail launch in Canada and the FDA approvals here?
And doesn't US business expansion into other countries mean something here at home?
Appreciate the thought gman - I'm ok, don't need a rundown as I think I'm up to speed, so my personal rundown opinion is this:
1. BIEL's ActiPatch and ALLAY applications are before the FDA and I assume it is processing them because it must;
2. BIEL already has FDA approval on RecoveryRx for post-op eye surgery, requiring prescription. The current apps are for non Rx sales approval. Also has ActiPatch and ALLAY approvals in Canada and EU;
3. There are no known adverse side effects for RecoveryRX, or ActuiPatch, or ALLAY, or any of the other BIEL products;
4. From personal experience with ActiPatch, it works amazingly well-did everything it was supposed to and no side-effects;
5. With FDA approval, the BIEL may be incredibly underpriced; and
6. If true, investors win, ActiPatch and ALLAY users all win.
Can you imagine women having a viable, safe solution for menstrual cramping and pain, which currently means family and personal strife for them and costs billions of $$$ in lost productivity, by expanding the BIEL product approvals and having an alternative to chemical painkillers?
And the same for strains, pains, injuries with ActiPatch? And a host of other products?
Can't think of much else that really, really matters.
I forgot......thank you and have a great day
Thank you madp - I respond in 4 lines:
1. Write to others who may about what happened 3 years ago
2. I care about BIEL's products and FDA approval.
3. I care about moving forward
4. If you emotion is well-founded and not bitterness, litigate!
Well said fuente. Thank you.
I know I have done the right thing in appropriately airing my opinions to the board and its monitors on the slandererous accusations of embezzlement by another poster, not against me, but against the CEO of BIEL, who, I suspect, everyone here and elsewhere, feels should remain totally silent, while we all try to wait patiently for the approvals of ActiPatch and ALLAY from the FDA.
You say you were banned for a while. I didn't realize that could happen and would only say that it seems a fair and appropriate way to discipline the transgressor.
Thanks again, I will say no more, as I suspect this matter is now in the hands of those who banned you.
Thanks very much for the heads-up fuente. Part of my learning process, but I do feel in such cases that it may be more fitting to expose and rebut, particularly after the insulting post may have been public for a few hours or more, thereby doing much embittered damage to the impugned victim, in this case Mr. Whelan, who now stands accused of embezzling BIEL of the expense of his personal vacations. Believe me, I am not on a crusade for anyone, but such libel is pretty serious.
If I made such comment about you at my club either by way of writing, libel, or verbally, slander, and you were also a member, I would be hauled before a discipline committee and thereafter suspended or expelled from the membership roster. I am worldly enough to know this is not a club, but fair is fair and libel and slander are not. So, I say, suspend the culprit, for a time, or expel him for conduct unbecoming. Freedom of speech is a major tenet of society, but one must not libel, slander or impugn another unfairly without the strong liklihood of recourse.
I would also leave the posts surrounding this issue up, so as to declare that the BIEL message board is a place of dignified exchange of ideas and thoughts and a place of reasonableness and fair play.
Thoughts?
So, let's see - the message I am replying to accuses Mr. Whelan, BIEL CEO, tghat would be officer & director, of taking free vacations at the expense of the company.
In my opinion, that is libel on the part of the message poster, as it accuses Mr. Whelan, in writing, of defrauding the company by embezzling BIEL of the funds necessary to pay for his personal vacations.
How can this person be permitted to post such inappropriate allegations without some form of accountability? This is not fair people.
I will be very interested to see if the offensive, accuatory post is deleted, or if this illuminating post is deleted.
In my opinion, both should remain intact so that readers see the truth. I have not posted on such forums before and have simply tried to express, with a sense of fair play, what I believe to be the truth. But such punitive comments should not be made without recourse.
Thank you to the moderators for their consideration.
Couldn't agree more with what you have said about Wall Street and the whole industry Super. Anyone of us could have written it quite truthfully.
The real estate developers - house builders - real estate agents - mortgage lenders and lawyers all made incredible fees up-sizing America on real estate, then Wall Street hid the mortgage backed securities with outher good product and rolled em out on the unsuspecting - then the bottom caved in. Reminded me of the S&L crisis in the 90's - remember Resolution Trust Corporation? Same thing. What drove it all? Greed. When will we learn?
I invested in BIEL because of the product and only because of the applications before the FDA for ActiPatch and ALLAY following the fact that they have approval on RecoveryRx. I will never risk capital again, based upon what a stockbroker pitches me on. They are conflicted, they make money off us win or lose.
I learned that lesson real time a few years back and will not change my investment strategies from what they are today - wait for a scam of huge proportion and buy real estate when big government movers in to expose the bad guys and politic a clean-up. Catch some real estate near the bottom on the basis that it must create positive cash flow and it must be in an attractive location.
I've done it four times - four financial cycles and this time have acquired manageable condos in four states - all for cash, all rented. BIEL is my only stock play.
that's creative - you reply supporting your own week-old negative replies to fuja27's exposure? Please tell me it's an error.
Good stuff Steve, I would be all over Canada, aren't they our biggest trading partner by far? And they are next door, same language with most of same customs!
Hah! He'll apologize if the allegations are true, because that will be the only way he will be able to maintain his own dignity intact, and, it will be the only right thing to do.
For all we know fuente, the guy may have already apologized. He certainly had his and his company's wings clipped with the warning letter. But I am always prepared to 'forgive and observe', not forget, when it comes to human behavior, as the tendency is we humans repeat poor behavior, so let's see what happens.
My bet is he, or whoever said such moronic things, will apologize, perhaps not exactly in the form the injured would like, sort of, - "It's been a long road and I know we've made mis-steps along the way, but we did the best we could" kind of thing, back-handed, but an apology just the same. I see there has been turnover at BIEL, maybe he canned those who did spout such fables, but, of course, CEO's don't can themselves do they?
Hey fuente - nah, if I'm misled by dream statements 10 times over 2 or more years, I want 25 rants.
You know the 3 biggest lies in the world:
1. I only want to borrow it for a day;
2. Trust me; and
3. I promise I won't...........
Add a new biggie in fourth position and in four parts:
4. "Well we actually expect to receive our approval from the FDA":
(a) "soon";
(b) "in a few weeks";
(c) "next quarter"; and
(d) "any day now".
The acronym could be SINA
As I read over my own words, what total, utter nonsense for anyone to say those things, particularly to investors. It may be negligent, but I'm no lawyer. Had I been told those things, I would hope I would call the guy on them, on the spot, telling him those were all nothing more than hopeful fabrications and that he had no idea in fact and have him apologize. What happened to if you don't know, you don't know? I sooooo hate it when people wing it or shoot from the lip!!!!
Stay silent Mr. Whelan, you allegedly have done damage to your investors who placed their money with you with the expectation you would be responsible with it and them. And I hope you're man enough to apologize to all investors if you made the huge mistake of saying such things you are alleged to have said. And I sincerely hope you get your FDA approvals, which will then motivate that apology even more. When the stock is at 25 cents I will join by fellow investors in demanding a sincere and humble apology and you will give it. You had and have a fiduciary duty to behave responsibly and you may not have. But, you know that better than any of us.
If the allegations are corrct, you could even apologize now, when the stock price is where it is - essentially in the toilet. It would show you in a better light. Sounds like you made a few honest mistakes based on your own hopes and impatience with the FDA process, so what. Get over it, apologize, be more professional and , oh, repeat, stay silent for now. Presidents hear and follow such advice every day, even at 1600!
There, I've had my rant.