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More competition for Radient's DR-70:
http://www.cbsnews.com/news/fit-at-home-screening-test-for-colon-cancer-good-alternative/
R.I.P., DR-70.
GCDx is apparently still trying to sell DR-70 with no scientific white paper to explain what the test even IS, no FDA clearance, and no proof it works. I think it's only a matter of time before the FDA catches up to them. The FDA recently caught up to Pathway Genomics for doing basically the same thing: selling a blood test as a cancer screener without getting FDA clearance and without providing proof that it works:
http://www.fda.gov/downloads/MedicalDevices/ResourcesforYou/Industry/UCM464092.pdf
Agreed. The business model is "borrow from the family and pay them back with shares." They stopped reporting to the SEC so they can raise the A/S and reverse split at will without shareholder approval.
But the pursuit of FDA clearance is the carrot on the stick that makes it all possible, because you have to keep the get-rich-quick crowd (the Tweeters and the Gamblers) interested. BIEL has to keep TRYING for FDA clearance.
My prediction: NSE rejection in March, de novo in June, de novo rejection before Christmas, and then a 510(k) for Osteo of the Knee labeled with "use it for 30 days" in 1st Qtr 2017. That 510(k) would be a slam dunk. It won't make the gamblers salivate but by 1st Qtr 2017 they'll have some other pipe dream to promote.
All just my opinion.
"BIEL survived so many years?"
That is stretching the term "survived" pretty thin, IMO. BIEL has fallen into the pinksheets and the PPS has lost 99.9% of its value.
If losing 99% of its current value in the next few years is "surviving," then BIEL is likely to "survive" for quite some time. They can raise the A/S and reverse split without shareholder approval as often as they want, and their "lenders" will never call in the loans as long as there's still some milk in the cow.
Yes, if the only measurement of success that matters for BIEL is "survival," then BIEL is a smashing success and will be for several years.
There's a chance of getting FDA clearance someday.
Not this current 510(k), IMO, but SOMEDAY. They just have to name a different predicate device and shoot for osteoarthritis in the knee as the only indication and use the two double-blinded control-arm studies as evidence.
OTC clearance for general pain and swelling? Not likely.
But let's say for the sake of argument that they get OTC clearance to sell the ActiPatch for everything under the sun. Short-term, that event will make some traders some money. Long-term, it won't save this company. The biotech highway is strewn with the bones of companies like BIEL that finally got FDA clearance only to discover that their device wasn't profitable.
The financials show that the more they sell, the greater their net loss. That's the sign of an unprofitable product.
There seems to be a misconception about BIEL's dilution. BIEL operates at a loss and they can't get funding any other way so they borrow from the family. They can't repay the loans with cash so they repay the loans by giving the "lenders" shares at a 50% (or less) discount. Just because BIEL isn't diluting this week doesn't mean the loans are paid off -- on the contrary, the debt grows LARGER as BIEL continues to operate at a loss. The borrowing HAPPENED and the dilution to repay those loans is COMING. The financials show that we've seen only a tiny part of the potential dilution - about 3 billion shares from Oct. 1st 2014 through Sept 30 2015. There's the potential of 19 BILLION MORE SHARES dumped into the O/S and that assumes the PPS doesn't tank. BIEL's 19 billion estimate is based on a PPS of about .0008, I believe. If the PPS hits .0004, that 19 billion becomes 38 billion. Staggering, isn't it?
If the FDA rejects this 510(k) with a NSE letter (and I assume they will based on their rules), things could get VERY ugly here. I like to gamble on pinkie sub-pennies but I sure wouldn't bet much on this one.
73-microwatt PEMF is enough to produce a benefit if you're willing to wear it for a month.
The two double-blind controlled studies prove that.
You SHOULD care, though, about the coming dilution.
As of the last financial report, BIEL owed IBEX over $5 million and the other family lenders over $3 million. This is not "what I think," this is FACT.
Think it's more today, or less? hint: BIEL operates at a loss and this is their only source of financing.
BIEL's office is at FITCI (Frederick Innovative Technology Center, Inc., 4539 Metropolitan Ct.,Frederick, MD 21704.) BIEL supposedly moved out a few years ago... why are they back at FITCI?
If you don't know what FITCI is, here's an interesting little piece of local reporting:
http://www.fredericknewspost.com/opinion/columns/fitci-s-slow-death/article_14851edd-94c0-5e3d-8626-cf5d73d567b4.html
BIEL is flushing itself down the toilet, IMO.
Anyone who thinks 15 billion A/S is high hasn't read the financials. It's going to get worse before it gets better.
http://www.otcmarkets.com/financialReportViewer?symbol=BIEL&id=147107
The loans to IBEX (Whelan's daughter) would require BIEL to give IBEX 12 billion shares to satisfy the loans (page 8) because BIEL gives IBEX shares under this agreement at a 50% discount of the market price that day .
And IBEX isn't the only one -- there are four more entities with this kind of loan agreement -- (a) Whelan's son and daughter-in-law, (b) Whelan's Sister, (c) St. John's LLC owned by other Whelan family members, and (d) Chairman of the BOD. BIEL would have to issue another 7 billion shares to satisfy those loans because these entities also get the same 50% discount. (page 9)
Yes, BIEL could pay off those loans in cash instead of issuing shares. Unlikely, IMO.
If BIEL pays the loans with shares, they will have to issue another 19 BILLION SHARES at the current PPS. That means they'd have to raise the A/S to 34 BILLION. True, the PPS would rise on FDA clearance, requiring fewer than 19 billion more shares... but beware the fallout if the FDA rejects the 510(k). This could get REAL ugly REAL fast.
AON, the employees of BIEL have stock options prices for another 690 million shares (page 10) most of which (545 million shares) are exercisable at .0015.
Bottom line: this was the best financing they could get. That's what happens when you swirl counter-clockwise into the pinksheets.
Nobody can explain why Radient did many things.
But none of that matters now. All that matters is:
1. Radient's last patent for DR-70 expired and their last patent application for DR-70 was rejected and then abandoned. ANY entity wishing to manufacture and/or sell DR-70 can do so without compensating or asking permission from Radient.
2. When Radient "focused on DR-70 sales" they still couldn't sell enough to cover even 10% of their burn rate, and that's not counting loans, penalties, or interest. They basically burned $2 million a quarter on administrative and sales while generating $200,000 in revenues. Entities trying to market DR-70 today are probably experiencing similar results.
3. RXPC Share Registration was revoked in 2014 and the company's Officers promptly disappeared.
4. The Company's Officers transferred all the assets (meager as they were) away from Radient. They now claim all assets as property of their new company "Cancer Screen Technologies" in Hong Kong.
5. Attempts to contact and communicate with Radient's Officers resulted in those Officers blocking all North American ISP's from accessing their website cstamdl.com. You can access the website using a European or Asian proxy so we know it is still online - they simply seem to have "put their RXPC shareholders on Ignore."
So yes, it's amusing to watch what other entities are trying to do with DR-70. Unfortunately, none of it will benefit RXPC shareholders. There is no reason today to cut RXPC shareholders a piece of any DR-70 pie.
Remember how Provista stiffed Radient in 2010? The CEO of Provista at that time was Gartner.
I hope the QuantRx CEO did his DD and knew about this, and knew about the failed 2010 LOI between Radient and Provista, when he gave $50,000 to GCDx.
http://www.sec.gov/Archives/edgar/data/838879/000114420411032218/v218209_10k.htm
"On August 27, 2010, the Company advanced $95,000 to Provista Diagnostic, Inc. (“Provista”), as a note receivable. In addition, the note included $5,000 in origination fees. In connection with the note receivable agreement, Provista agreed to deliver two separate research reports to the Company by September 30, 2010 as full satisfaction of the balance owed. If the reports were not delivered to the Company by September 30, 2010, the agreement called for a 25% increase in the principal balance.
"Due to Provista’s failure to deliver such reports by September 30, 2010, the Company recorded interest income of $26,327, which represents the 25% increase from the principal balance of the note plus accrued interest of $1,062. If the research reports were not delivered to the Company by September 30, 2010, then the note required five equal payments of $20,000 (totaling $100,000) on the 1st day of each month commencing on the initial interest payment date (as defined in the note) and continuing thereafter until maturity (August 27, 2011). Interest accrued on the unpaid principal balance at a rate of 12% per annum until September 30, 2010. After this date, if the reports were not delivered interest began to accrue at the rate of 18% per annum.
"On October 8, 2010, the required research reports were provided to the Company as satisfaction on the principal of the note. The accrued penalty and interest of $33,046 remains unpaid as of December 31, 2010. In the light of the overall economic crisis, our intended long-term relationship going forward with Provista, and the fact that as of the date of this report the balance was not collected, the Company considered the balance uncollectible and reversed the remaining balance against interest income as of December 31, 2010."
The GCDx "Lung Cancer Test" is DR-70 (aka Onko-Sure)
If you want to read a VERY interesting history of DR-70 and GCDx, read the SEC filings and PR's for RXPC (nee AMDL).
DR-70 is off patent. UNI Pharma and others are trying to sell it in Asia. GCDx is trying to sell it in the USA over the internet without FDA clearance.
And the most recent Officers of the now defunct Radient Pharmaceuticals are trying to sell it in Hong Kong -- their new company is called "Cancer Screen Technologies."
Unfortunately, you can't go to CSTamdl.com using an American ISP (Error 403 Access Denied) because they blocked all American ISP's from accessing that website after we talked about it too much on the message board. You can get to that website if you use a free European or Asian proxy though.
Everyone claims to have "developed" this test themselves, claiming it to be "proprietary," but in fact we don't even know who developed it. The "70" part of the name stands for the year 1970 when it was created. AMDL (changed to RXPC) bought it around 1995 and hyped it for 20 years until they finally dissolved.
The test is NOT specifically a "lung cancer test." It detects FDP's (fibrin degradation products) in blood which may or may not indicate cancer, but here's the rub" a positive DR-70 test does not tell a doctor where in the body to look for the cancer. The specificity is therefore too low for a screener. GCDx is targeting smokers and former smokers to raise the specificity, assuming that if a smoker or former smoker has cancer, it is probably lung cancer.
The medical community and international Governments never embraced the test. Near the end, Radient promised $10 million revenues in India in one year and delivered basically zero revenues in India. DD on Guar Diagno will reveal that story.
Good luck to all.
Yes, Gartner's test is nothing more than DR-70, targeting only smokers and former smokers with the intent of increasing the specificity.
But he never bought DR-70 from Radient Pharmaceuticals -- he never paid that bill! He just waited until DR-70 went off patent. Nice.
I've been reading QuantRx's SEC filings...
Looks to me like QTXB is a zombie biotech that basically does nothing but sit around and pay a couple of officer salaries and possibly pay a lease on a brick-and-mortar office.
I don't think there's much chance that QTXB will buy the Radient Pharmaceuticals carcass from the Aussies. But we can hope!
QuantRx has nothing to sell. Their balance sheet shows ZERO revenues. Their burn rate is only about $80,000 per quarter.... meaning they are doing little or nothing with their "PadKit," whatever THAT is.
Their A/S is 150 million and the O/S is around 68 million. Not a whole lot of room for dilution, but once they merge, I bet they increase the A/S and hype a 510(k) for the lung cancer test -- and sell shares to fund the adventure.
Here is the latest 10-Q from QuantRx
http://www.sec.gov/Archives/edgar/data/820608/000141588915003757/qtxb10q_sep302015.htm
"If [the merger is] executed, the Company [QuantRX] will acquire 100% of the outstanding capital stock of Global in exchange for restricted shares of the Company's common stock..."
That means anyone who bought GCDX stock from Willie gets restricted shares of QTXB. Ahhh the irony... the Merger Theorists claimed to be personal friends of Willie but they were 100% wrong about GCDX and Radient merging... they should have been buying GCDX shares instead of RXPC!
"Pursuant to the terms and conditions of the Global LOI, the Company advanced to Global $50,000 during the quarter ended September 30, 2015 (the "Global Advance"), which amount is due and payable by Global, on demand, anytime after the Termination Date. In the event the Company and Global execute definitive merger documents on or before the Termination Date, Global will issue to the Company that number of shares of Global's common stock equal to 10% of the then outstanding shares of Global's common stock, on a fully-diluted basis as payment of the Global Advance. "
Yes, GCDX is that badly in need of $50,000! I guess DR-70 isn't selling so well on the internet?
In summary.... QTXB has about $1.7M in debt with no money coming in.... and GCDx needed $50,000 from QTXB.... we have a couple of BIOTECH TITANS here. This will be a huge opportunity for our Radient Merger Theorists, who seem to love to throw money at anything that involves Gartner.
GCDx is merging with QuantRx, leaving Radient behind.
http://www.businesswire.com/news/home/20150929005950/en/QuantRx-Biomedical-Signs-Letter-Intent-Acquire-Global
So we can remove GCDx from the Radient Reverse Triangular Backdoor Creeping Takeover story. Hate to see them go!
I love the hype. Witness the first paragraph:
"QuantRx® Biomedical Corporation ("QuantRx" or the "Company") (OTCBB: QTXB) and Global Cancer Diagnostics Inc. (“Global”), a privately held laboratory, jointly announce that they have signed a letter of intent to combine."
"Global, a CLIA-certified diagnostics laboratory based in Tempe, Arizona, has developed a low cost, highly accurate over-the-counter lung cancer screening test marketed under the name “The Lung Cancer Test™”"
That's a stretch, to be kind. Global didn't "develop" anything, they just repackaged DR-70. And at $99 it's not low cost. and it's not "highly accurate" -- on the contrary, at 95% it's unacceptably inaccurate as a screener -- MacLellan himself even admitted that. And we all know it doesn't detect LUNG cancer specifically -- it detects FDP's which may or may not indicate cancer which may or may not be LUNG cancer.
"Global’s proprietary technology combines low reagent and labor costs to provide an affordable self-pay solution. "
"Self Pay" as in "we will never get reinsurance reimbursement for this thing." and "Proprietary" as in "nobody else in the USA is bothering with DR-70 because everyone here knows it's a bust."
"William Gartner, CEO of Global Diagnostics Inc., said.... 'Our enthusiasm is supported and validated by several large drug store chains, many of which have expressed significant interest in the product’s potential especially in light of the importance of early detection and its profound impact on prognoses and survival rates.'"
BS. DR-70 will never get FDA clearance in the USA for OTC. NEVER. So "Several large drug store chains" probably means one chain in the UK.
Great stuff! I can only imagine how excited QTXB shareholders are to hear this news! I looked at their financials and that company is just another debt-ridden zombie.... The LAST thing they need is DR-70 in their pipeline. IMO, there is only oen reason to combine these two failed unfunded biotech companies: maybe they can drum up some new funding. I bet our Merger Theorists will invest!
Can I just apologize now for doubting the metaphysics?
I feel like I have insulted someone's religion. That was not my intent. I thought there might be a calm logical discussion here but I see I was wrong.
Why did revenues spike in Q4 2014 and then flatline for the next three quarters?
notice that the hype is all about "increase in shelves" but never "increase in sales."
the financial reports CLEARLY show that the increase in revenues from 3rd Qtr 2014 to 3rd Qtr 2015 was accompanied by an increase in loss from 3rd Qtr 2014 to 3rd Qtr 2015. Same is true when comparing YTD 2015 to YTD 2015 through Sept. 30th.
This is fundamental: when you sell more product your net loss should go DOWN. If it doesn't, you have a flawed business model and you are doomed to fail.
you ask "How can revenues be flat in 1 2016 yoy?" Simple: compare 1st Qtr 2016 to 1st Qtr 2015. Revenues will not show the huge increase you see when comparing 1st Qtr 2015 to 1st Qtr 2014.
But you think this company will be profitable in Q1 2016? Interesting.
There might be demand for a $5 version, IMO.
If BIEL could figure out a way to make a profitable $5 version, they might survive. Or even a $9.99 version.
Otherwise, the ActiPatch is nothing more than a SkyMall offering, IMO.
I think 4th Quarter 2015 revenues and net loss will tell the story better than testimonials.
I think 4th Qtr 2015 will be flat compared to 4th Qtr 2014. I think 1st Qtr 2016 revenues will be flat compared to 1st Qtr 2015. I also think Net Loss will continue to increase as it has increased the last two quarters.
I think this company will never be profitable -- and if the FDA clears the ActiPatch it will only prolong the death spiral we are currently witnessing.
I think the financial statements make this quite clear but of course it is just my opinion based on common sense and business fundamentals -- and common sense and business fundamentals play only a very small part in pinksheet sub-penny biotech "investing."
Best of luck!
The pet patch costs an additional $99 because you have to buy a special coat?
What does that special coat cost for a horse?
For a hamster, perhaps the customer could place the animal in a hamster ball and secure a pet patch to the outside of the ball with duct tape.
You might use it on your dog?
How would you get it to stay on the dog? How would you keep the dog from pulling it off within 90 seconds of application?
Why did you not complete the transaction?
Why don't you want to buy the ActiPatch?
BOTH. Sorry, wasn't that clear?
1. the actipatch sold on eBay for about $34 as recently as October. I commented on that price being too high, and someone here said "I buy mine for $25." So the new price of $44 is a $10 increase.
2. You can buy it for $49.90 with free shipping or $44 with $6 shipping.... Do you not see that "$49.90 with free shipping" is not really free shipping?
There is only one way this device can be successful in the marketplace, IMO: find a way to sell the $5 version profitably. I don't think BIEL can do that. I think BIEL lost money selling the $5 trial version, and I absolutely do NOT see a $35 (excuse me, now $45) version gaining market acceptance. At that price, it's a luxury item that belongs in the SkyMall catalog or possibly on a late-night infomercial.
I think 4th Qtr revenues will prove me right. And since I don't think you'll see the FDA decision before March 2016, that is the next piece of hard news you're going to see, IMO.
Actually, I would not be surprised to see an infomercial campaign.
RE: the Pet Patch... I've worked with rescue dogs and I lived on a horse farm for two years and we have two dogs and a cat now... and I can say with absolute certainty that NOBODY in their right mind would put the pet patch on a dog or horse or cat. As for gerbils or snakes or whatever else people keep as pets... I cannot speak for that niche. But in general, I think that whoever came up with the Pet Patch marketing idea had to be joking and was probably surprised when Whelan said "Let's do it!"
"Soft clearance?" What is "soft clearance?"
RE: eBay -- the actipatch has been available on the US eBay site for at least 12 months for about $35, and the sellers are in the United Kingdom.
If you do an Advanced Search on the US eBay site to see how many are being sold on eBay, you will learn that there have been only six sold since October 10th.
RE: Amazon -- a price of $49.90 with "free shipping" does not mean that shipping is free. Fascinating, how that kind of marketing deception works on certain consumers..... But regardless... the seller in your URL is "Parisa of London."
I did learn one interesting thing from your links: the price of the ActiPatch has apparently gone up about $10. IMO, that will make it even HARDER to sell on shelves in convenience pharmacies.
Marketing 101: if revenues are poor, raising the price is not going to help.
maybe... but all those shares seem to be in strong hands.
I've been trying to buy for a few weeks and it's hard to buy 100,000 or more.
I managed to get some and I'm still trying, but there really is not a lot of stock for sale. Seriously, $$$ six-seven grand is a heavy volume day?
You think Oxford is "large retail/distribution?"
You think the ActiPatch is "New... being first introduced to the public?"
You think a clinical trial at Oxford "is verification to the PUBLIC?"
BIEL has been hyping this device since 2000.
If the ActiPatch is still "a head [sic] of its time" in 2015, when will its time come? 2020? 2050?
The biotech highway is littered with the carcasses of companies that got a drug or device approved/cleared by the FDA but discovered there was an insufficient market for that drug/device. The BIEL wagon is still traveling down the highway but they sold the oxen for food and Pa is pulling the wagon now. How much longer?
of course there is a reason.
to get a 510(k) cleared, the company has to prove that the device is substantially equivalent to a device that is already cleared for OTC for the same indication.
BIEL is claiming that their ActiBand is the predicate device, and that is going to fail. They tried to use the ActiBand in their 2009 510(k) and the FDA said "NSE" and they are going to say it again for this current 510(k).
The ActiBand is cleared as a Class III device so the Reclassification is not going to help. Furthermore, the ActiBand is cleared for prescription use only, not OTC. Finally, the Actiband is cleared for one very specific indication: the treatment of edema following Blepharoplasty. The ActiBand is not cleared for pain relief.
Yes it is that simple. The FDA plays by the book and NSE is the reason most 510(k)'s get rejected. Of course, it's never really a "rejection" -- it's "not approvable as submitted."
That's what the "longs" said in 2005 when this was over 40 cents a share, and that's what the "longs" said in 2009 when it was at 9 cents. These people are still around and they are still saying it.
And that's what the next batch of "longs" will say in 2017 when they submit the PMA to the FDA and Whelan expresses "Confidence" in the submission.
"And as he handed me a drink he began to hum a song
And all the boys there, at the bar, began to sign along"
the TRUTH about sales and net loss:
If you format this in a fixed font you will see that...
1. Sales have been FLAT since 4th Qtr 2014
2. Net Loss (from Operations) in 3rd Qtr 2015 was HIGHER than Net Loss in 3rd Qtr 2014
3. Net Loss YTD 2015 (through 3rd Qtr 2015) was HIGHER than Net Loss YTD 2014 through 3rd Qtr
Bottom line: if you are a trader here for the FDA play, then you do not care about these financials. But if you are "long" on this stock, you SHOULD care about these financials. A lot.
Year Qtr Sales Gross Profit Burn Net Loss
2011 1st 294,153 233,451 483,550 -250,099
2011 2nd 319,093 133,151 794,844 -661,693
2011 3rd 42,810 4,197 663,659 -659,462
2011 4th 520,229 296,248 1,167,084 -870,836
2012 1st 124,159 52,423 494,825 -442,402
2012 2nd 170,675 59,948 626,422 -566,474
2012 3rd 23,440 621 513,112 -512,491
2012 4th 181,847 114,492 547,429 -432,937
2013 1st 112,888 43,344 441,796 -398,452
2013 2nd 180,613 65,004 681,664 -616,660
2013 3rd 110,091 5,220 -538,919
2013 4th 261,918 121,218 -379,497
2014 1st 169,584 83,844 556,639 -472,795
2014 2nd 276,696 68,501 721,598 -653,097
2014 3rd 231,174 49,620 616,962 -567,342
2014 4th 612,442 343,115 950,852 -607,737
2015 1st 503,448 220,940 719,213 -498,273
2015 2nd 675,348 291,454 866,366 -574,912
2015 3rd 499,869 319,804 892,843 -573,039
3rd Qtr 2015 is old data?
What, then, is "current data" in your opinion?
I studied all the financials back to 2009, including 2nd Qtr 2015.
Revenues spiked when there was some hype promotion on a Dr. Oz TV show, but then collapsed when the FDA forced BIEL to stop selling the device illegally in the USA. Then revenues spiked in 4th Qtr 2014, but have flatlined since.
Yes, revenues in 4th Qtr 2014 and 1st, 2nd, and 3rd Qtrs 2015 were higher than the same quarters in the previous year -- a lot higher, about double. But net loss increased with the increase in revenues. What sense does that make to you? They are not paying for expensive testing so why do they lose MORE money as they sell more product? At this rate they will NEVER be profitable.
Apparently this is attributable to the "Try and Tell" program. Yes, people will pay $5 for a disposable pain device. But it appears they are hesitant to pay $35 for a disposable pain device. The $5 device is obviously a promotional money loser, but that's practically all BIEL can sell.
You seem to think that revenues are growing exponentially. I think revenues have flatlined. 4th Qtr revenues in March 2016 will prove which of us is right. I say flat sales, increased net loss, and a couple billion more shares issued -- in other words, the signs of a company in a death spiral will continue.
No pinkie CEO ever actually PROMISES anything.
They are always careful to protect themselves with Safe Harbor statements like "We Believe That" and "We Are Confident That...."
In my opinion he came as close to promising an FDA decision as a pinkie CEO could get. It was Guidance, and I think it was BAD Guidance, but it is typical of all the other guidance Whelan has given, IMO.
Read the historical PR's -- Whelan has expressed "Confidence" in every FDA submission to date. The FDA did not share his "Confidence" and rejected all but the most recent submission, and that most recent submission is getting suspiciously long in the tooth.
Furthermore, the FDA is famous for not working very hard around the holidays. Isn't their office shut down the entire last week of December?
the PR's all gush about "more stores" and "more shelves."
Never "more sales."
At this point the company knows what 4th Qtr revenues are going to be. I agree with you -- increasing the A/S now is VERY telling.
The Oxford study is good for BIEL because:
After the FDA rejects the latest 510(k) they will probably come to the realization that they need to do a PMA, not a 510(k), because there are no predicate devices cleared for OTC pain.
For a PMA, more clinical data will be necessary because most of BIEL's current "clinical data" consists of surveys and testimonials which do NOT impress the FDA. A placebo-controlled double-blind clinical study would do a LOT towards getting this gizmo cleared by the FDA.
The CEO promised the FDA decision by 12/31/2015. I laughed at that "guidance" then and I'm laughing now. This CEO is pretty funny, really.
Regarding the R/S we all know is coming eventually: When a legitimate company does a R/S they also reduce the A/S. When a pinkie scam does a R/S they don't reduce the A/S. Guess which one describes BIEL.
If this officer said "currently shipping" when he really meant "September" then that just proves my point: these fake paid-for promotional "interviews" are worthless.
I don't care what these BIEL Officers say in these fake "interviews." I choose to believe their financials, although maybe THAT is folly since they are unaudited - maybe revenues are even worse than they "report."
Whatever. This stock is not investing, this stock is pinksheet gambling. I'm doing DD on *real* biotechs this morning. A breath of fresh air compared to BIEL and its shenanigans.
Shelf space is nice.
Eventually, though, Operating Profit/Loss and Shareholder Equity/Deficit Revenues are all that count. BIEL is not at that point yet. But eventually they will reach that point. Until then, BIEL can just keep printing shares and losing money while its shareholders rejoice.
we agree on something else!
the "HAHAHAHA" part. This little company with its little gimmicky Roy Rogers battery-operated toy is quite amusing.
No, the NEGATIVE NOISE means that not everyone is smoking the BIEL Pipe of Dreams.
SmallCapVoice is a paid pump service.
In other words, that's not an interview. It's a marketing piece for which BIEL paid.
Yes, 3rd Quarter 2015 revenues were higher than 3rd Quarter 2014 revenues and YTD Sept 30th 2015 revenues were higher than YTD Sept 30th 2014 revenues. But the 3rd Qtr Burn increased from $617k to $893k and the 3rd Qtr Loss From Operations was actually HIGHER in 2015 than it was in 2014.
Loss from Operations is going in the wrong direction. Not Good. And Loss from Op does not count interest expenses. I'm looking at just the business here.
Year Qtr Sales Loss from Op
2013 3rd 110,091 538,919
2013 4th 261,918 379,497
2014 1st 169,584 -472,795
2014 2nd 276,696 -653,097
2014 3rd 231,174 -567,342
2014 4th 612,442 -607,737
2015 1st 503,448 -498,273
2015 2nd 675,348 -574,912
2015 3rd 499,869 -573,039
Revenues jumped in 4th Qtr 2014 and have basically flatlined since. Predictions for 4th Qtr 2015? Here's mine: $650,000 revenues, Loss from Operations $620,000.... FLAT REVENUES and INCREASING LOSS.
the UK expansion news was in October.
October 20th PR:
"[BIEL] today announced that it has received initial orders for its ActiPatch® Musculoskeletal Pain Relief products for 1,077 Lloyd's pharmacies, the second largest chain in the UK, and Gordons Chemist. ActiPatch will be on promotion in Lloyd's stores and online beginning November 1."
On November 25th, Staelin said they were shipping 8,000 - 10,000 units per month? That means those "initial orders" are negligible and nothing is flying off the shelves, to say the least.
Anyone still think 4th Qtr Revenues are going to be be gangbuster? I predict flatline revenues -- we will see!