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Malta? This is PR worthy?
Yeah, more clinical trials are good and will probably be needed if BIEL ends up having to file a PMA. They need to start publishing some results though. In 2011 they had 7 active studies:
http://bielcorp.com/wp-content/uploads/2010/09/Biel-Investor-Update-December-15-2011.pdf
However I don't recall seeing many results announced. It looks like the Hernia study they just announced is an extension of the pilot study from 2011 so the results must have been good enough to fund an expanded study.
Non-accelerated filers are typically due at the end of March. Since March 31 is a Sunday the official due date is April 1. BIEL is not a SEC reporting company though, so all that does is keep them with a "Current" status on OTCMarkets. There are no regulatory requirements for them to file at all.
You're all wrong...
It's North Korea. That wasn't a nuclear bomb test they conducted recently, it was the public's response to actipatch hitting the market.
You're looking at the Non-Restricted number on the letter. The OS as of November 14 was 2,697,114,957 so about 102.4 million increase in OS since then.
According to their last Attorney Letter:
Is the TA still gagged?
Maybe I spoke too soon.
All buys today. Looks like the dilution is over and some traders are coming in feeling it's oversold.
Well have a good weekend. I think what's happened is much more simple than some would like to believe. BIEL is broke and needs money to continue operations, simple as that. We'll all know for sure when the financials come out.
I'm not trying to argue that it is ONE individual investor, quite the opposite really. I'm saying that it's lots of small time investors picking up relatively small (in terms of money) positions as the price falls. Also could be some technical traders getting in as their triggers are hit. I don't know obviously, but like you I don't think it's Gro International or any other company taking a big position.
Not much for me to expand on other than my personal belief is this is the result of debt conversion by Andy's daughter. Just because the total volume is up there's no reason to believe it isn't being purchased by individual investors since the price is so low. Most of the large blocks have been in the 2 million to 5 million share range which is $2000 - $8000 per transaction? We're not talking millions of dollars changing hands here.
Disclosures and forward looking statements. Read the fine print at the bottom of the PRs and you'll see they say that it's possible that nothing they claim in the PR will ever become reality.
I suppose not, but if anybody needs to know what to look for then the last week is a perfect example. The only question is whether or not it's straight dilution to raise cash (painful but necessary) or conversion of debt (just plain painful). Unfortunately when dealing with non-reporting companies there's no way to know until well after the fact.
Any time there is dilution in a pinksheet company there's always speculation about a "big buyer" or "institutional investor". That's possible with exchange traded companies, but here in pinkie land there is almost never a big buyer.
Kelly going on a shopping spree? lol.
According to Andy's letter and explanation from the company they are now arguing that a new category is not needed and that it should be classified in the existing IMJ category.
Well, the sheer size of the recent activity would lead me to believe it's debt conversion as opposed to straight dilution for cash. Over the last year they have diluted fairly regularly but in small increments whereas the last couple days are indicative of somebody obtaining a large number of shares over a short period of time.
BAH...system glitch duplicate post.
BAH...system glitch duplicate post.
I believe the details around that case differ from BIEL in that they assigned debt from 3rd parties to companies owned by the defendants.
It's entirely possible this was Andy's family converting debt which would result in zero cash for the business. We won't know until the Q1 report comes out of course.
Possible? Sure, but given the timing of the PR and selling I'd say this is simply dilution to keep the doors open. That's not bad, it's simply the reality BIEL finds itself in today. They cannot continue to operate unless they bring in money, and the only tool they currently have to facilitate that is dilution.
They should be. If you look at today's action from an objective standpoint it's obvious what is happening.
Fuente you're thinking logically while others are emotionally invested.
Insiders have to dump as many shares as possible before Costco pulls the product from their website due to lack of sales.
I'm not arguing as I think this company is setup specifically to pump and sell shares. I was simply pointing out that they have book at minium 50% of the revenue for all of their sales in the 4th quarter as deferred revnue and recognize it over the term of the 6 month subscription. Please don't mistake this as any type of endorsement for this company, or any pinksheet for that matter.
To be fair, a large part of their sales for Q4 is recorded as Deferred Revenue on the balance sheet, and not included in the revenue numbers on the income statement which accounts for the smaller gross margins. Doesn't change the fact that this company's main purpose is to sell shares, but if you add in the $240k of Deferred Revenue they would have almost broken even for the quarter.
There isn't anybody to complain when nobody is buying your product.
Yup, and they filed chapter 11 less than a month later, followed up by chapter 7 in 1998.
Here's a look at the wonderful $60 million NASDAQ company MDHI's CEO built.
http://articles.orlandosentinel.com/1997-11-27/business/9711280355_1_ronald-adams-consolidated-stainless
If that doesn't inspire confidence then I don't know what does.
Really? If his prior experience is such a huge boon then why doesn't he name the $60 million NASDAQ company he supposedly grew from scratch? Everywhere you look it has that same generic language. Could it be that company was a miserable failure?
I'd say that's likely the case since the company appears to have been incorporated in 1993 and run into bankruptcy 4 years later.
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=342047
Well, I don't know the answer for sure, but the FDA has very little limit on their powers over U.S. Manufacturers and they've already had BIEL in their sites. If I were BIEL I would do everything in my power to keep them happy until they deliver their final verdict.
Those Canadian pharmacies are SUPPOSED to ask for perscriptions for prescription-only drugs. So, clearpoint is fine if they are asking for prescriptions when they sell actipatch to U.S. customers, but I doubt that's the case.
I'm pretty sure the FDA can take action against BIEL if they knowingly supply the product to a distributor who is illegally importing the product to the U.S. See the link below:
http://www.fda.gov/medicaldevices/deviceregulationandguidance/importingandexportingdevices/ucm050521.htm
Specifically: