THEY READ THE BOARD.

Sree may not...that is accurate. But the others read the board.

It is not really up for debate. I know this for a fact.

no. I mean really...no!

I will admit. This particular post is asking a valid question.

Let's compare notes in 1, 3, and 12 months from August 1, 2019. I hope I am wrong. I will gladly eat crow and make money on the stock. But I doubt it.

Looks to me like Andy doesn't have a plan.

The negotiation should've, would've, could've happened while the product was still on the shelves. Instead, the brilliant CEO forced CVS to take the product off the shelves...costing them (CVS) money, time, and effort. A buyer, and more importantly, a buyer's boss will not forget this.

Yes - the ISO is a requirement to attain the CE Mark. Having ISO on its own does not allow a shipment. You must have the CE Mark.

But you can maybe sneak things in...if you get caught...chit hits the fan.

I am not trying to sharp shoot.

However, I think the original question was a genuinely solid question.

How are we still showing sales in Europe while the company openly admits that we have a lapsed CE Mark? I am somewhat confident that the Mark is being resolved...just doesn't make sense to take a RISK by sending over small shipments before all is resolved.

This is the type of stuff that keeps the PPS down. It is hard for large investors to get interested in a company that takes these type of regulatory risks.

Should be exciting next week...and the coming months.

that is not possible...well, it is not legal. A CE Mark is given specifically to a product. An ISO Certification is given by manufacturing location.
In summary:
ISO Certification from a separate manufacturer is legal.
CE Mark Regulatory requirements from a separate manufacturer is NOT legal

it is most probably inevitable within the next three years. maybe not today or tomorrow...but there comes a time.

Interestingly enough I have the Press Release that BIEL had written for the Retail launch. Lucky for them, the Retailer said it was against their policy to PR this type of event. I wonder how AW would have walked back the PR.

why would that even matter?

the conversation is about winning or losing the shelf space.

I DO NOT think is it BS. In fact, AW is finally talking about what happened! You can read elements of the truth even though he is trying to hide the ugly. Read his words below...

Yes, Protex came to Baltimore
Yes, we were shareholders interested in BIEL success
Yes, we had a certain set of skills (medical device bracing)
Yes, we had a relationship with CVS
-that is paragraph #1

Yes, we designed a knee sleeve. After interviewing AW, Sree, and Keith...we designed a sleeve to match their intended consumer and product use.
Yes, the pricing is accurate. We had been informed to use a certain "sell-in" cost. I won't provide the cost...but it can be estimated by people who know retail. Retailers like 55-60 margin.
-that is paragraph #2

Yes, AW came back and wanted to change the "sell-in" cost because he did not like the Retail price. We stated it was too late for the initial test and that Keith had agreed on pricing. AW stated that Keith is not allowed to make decisions. Only AW can make decisions. AW agreed to kick the can down the road for testing purposed.
-that is paragraph #3

Yes, AW was unsuccessful in working out an agreeable solution. The attempts involved two very unprofessional phone calls (without Keith). We then tried providing pricing model spreadsheets, various ownership/partnership options, and eventually we said he could have the ENTIRE business after 12/31/2019. All of this goodwill was ignored. He still refused to work with team.
Yes, AW then tried to cut Protex out and work directly with Retailer. My assumption is that Retailer ignored his request.
- that is paragraph #4

No knowledge on Paragraph #5. Initial intent was to help BIEL grow and be successful. I currently have ZERO respect for AW...but I still wish BIEL the best. My shares are hopeful for a fresh start.






Quote:

Bioelectronics received a visit from Protex, two individuals. The purpose of their visit was to discuss CVS’s interest in obtaining new wraps and brace products. They proposed designing a knee brace that would include an ActiPatch.

Protex went forward and designed a knee sleeve. They also designed a box that included the Protex name on it. They then went to CVS and received a purchase order without having a license or distributorship agreement with BioElectronics. CVS set the retail prices at $30.49 for the device and $18.87 for the device which was $10.00+ below our prices.

Andy only agreed to supply test devices on the initial locations with the condition that all future purchase orders were to be issued to BioElectronics. Protex did not have the management or financial resources to advertise or promote the product.

Andy was unsuccessful in his repeated attempts to establish a workable relationship with Protex and notified CVS that BioElectronics was not going to provide devices to Protex. Although the product did exceptionally well in the test, CVS chose not to change vendors.

BioElectronics is moving forward in discussions with qualified distributors that will properly manage, price, and advertise our product.

Jimzin: You could not be more correct.

No worries Beach. I was just answering the thread...didn't mean anything specific your way.

Bottom line. BIEL controlled the price into CVS deal. Protex just carried the pricing message into the retailer meeting.

In the end...AW wanted a higher price. He probably reflected on the deal and decided Actipatch was worth more.

His mistake was trying to work AROUND the current setup.

Retailer didn't like that approach.

Should have came right down main street and requested a pricing change to match his NEW expectations within the current vendor relationship.

Live and learn. Wishing for good news at Walmart.

Many aspects are interesting.

Where is Keith's name in this interaction?
One would have thought the VP of Sales would have been empowered to enter partnerships in US Sales. Maybe Keith thought he had this power as well. Maybe AW undercut him (Keith) because he always has to be the smartest guy in the room.

One should wonder where Protex received the initial "sell-in" price to offer during their call to CVS. Maybe BIEL provided it to them before the meeting. Maybe it was the same price BIEL had offered CVS during their own unsuccessful sales call.

One should wonder how BIEL can say the product had great sales numbers when they NEVER saw the sales data?

One should wonder why CVS would not chose to change vendors if the product had great sales numbers?

Andy needs to concentrate on running the business. Stock manipulation is not something he should be concerned with. If Andy could show ACTUAL sales...and someday ACTUAL profit...the stock price would take care of itself.

Should have been submitted in mid June

When I read comments about a DEAL with CVS or the potential DEAL with Walmart, I feel compelled to respond.

Maybe it is just semantics, but most companies don't make DEALS with retailers. They simply get their products listed with certain terms. These term include slotting fees, ad merch expectations, discounts on returns, payment terms (Net 30, Net 60), logistics cost sharing, etc.

There is seldom a contract, there is almost never money exchanged upfront by the retailer. These things just don't happen.

Maybe if Apple agrees to sell in Walmart, or Amazon agrees to allow returns to Kohls, or BOSE sets up special pricing at BestBuy. But these are very rare and only occur with HUGE companies that define their market.

So for BIEL, the interaction with a retailer is simple. Agree on sku count, sell-in price, and retailer terms. That is it. There is no pot of gold at the end of the rainbow.

The only pot of gold is the opportunity to have your products on the retailer's shelves. Then from there one must provide good customer service and prove the product can move off the shelf at the appropriate velocity. This appropriate velocity is usually defined before the launch and watched closely for the first 90-180 days of retail.

Survival of the fittest from that point. You either sink or swim.

Why am I writing this post?
I just want people to understand that there is no DEAL being worked out with Walmart. BIEL is simply trying to get the product on the shelf. If it gets to the shelf that is great. But it is not different (in fact probably less impactful) than getting on the CVS shelf. Therefore, don't think the pps moves much.

Now if it sells - then a year down the road we can have positive cash flow. But again it won't be a huge number.

Normally the word DEAL is saved for partnerships between companies. This would be the KT DEAL or the DR. SCHOLLS DEAL, or the MUNDI DEAL, or the B BRAUN DEAL. These all have the potential to be a BIG DEAL...
but at this point nothing transformational has been realized. And I think it is becoming more evident each day that this team struggles with making (1+1=3). This CEO can't figure out how to work with ANYONE else to become stronger than he is alone. This is one hell of a character flaw.

is this an attempt at transparency?

Yeah...I am fairly sure that packing a product in the USA does NOT qualify for "Made in the USA." Might sound like a little error...but this type of error can get your in deep trouble.
They need to fix this before they even think about shipping into a major retailer in the United States.

All informed shareholders know there must be more to the story on CE and ISO. Please provide the history for the CE lapse and the manufacturer needing ISO in China.

1) Why did the CE lapse in 2018?
2) Why does the product say "Made in USA" if it is indeed made in a Chinese manufacturing plant?

If the short answer is something like..."yeah, we made mistakes in the past but we are trying to fix as we move forward.." then please say this.

I think we could accept that answer. But it doesn't feel genuine to blame a 2020 regulation.

Hopefully that isn't how he gets them into the UK without a CE Mark. lol

One more post today.

Your point is spot on GG. Six full time employees.

The key is to figure out how to expand your influence and bandwidth in the context of six full time employees.

How do you accomplish this?

Strategic partnerships with people or organizations that can help push YOUR agenda.

This doesn't mean sign big deals (in the short-term). This doesn't mean give away the farm (in the short-term).

This means sign agreements that create a win/win.
1) The partners need incentive to go sell and to go create awareness.
2) BIEL needs to ensure THEIR long term ownership of the technology and the brand.

I am sure some deals have been close to this win/win...and I am sure some other deals have been way off.

But through honest, ethical communication with potential partners, BIEL should be able to pursue Clinical and FDA Milestones in the long-term, while creating more modest value streams and brand awareness in the short-term.

Go back to something as simple as the Eyelid Plastic Surgery. Find a partner in this space. Sign a deal, limited in scope, that only allows the partner to work in this space. Give them a good deal of the profit. Empower them to go and win this space. Think of what the brand awareness and professional validation would do for BIEL long-term.

I get the pursuit of the Holy Grail. But this doesn't have to be binary decision. It doesn't have to be all or nothing. Create value along the way. Just ensure you always remain in control of the long-term.

Have a good day folks!

Time to get the celebrations started here in the Midwest!!

Give em a good show tonight Mr. President!!

God Bless America

Yes they do JGD. Three separate people on the management team have referred to posts on this board. THAT IS A FACT

Just did some quick DD

Eyelid (Blepharoplasty) Surgeries:
In the United States...

Year 2000: 327,000
Year 2014: 207,000


BIEL Market Share??
I think it is near zero...

Global surgeries for Blepharoplasty? Probably over 500,000!


SO AGAIN!!!

BIEL - stop making excuses. Stop worrying about factions of shareholders.
Stop the BS. Do your damn jobs!! If you can't do it alone...ask for help. People are willing to help!!!

I hope they get the extra five years...and I think they have a great case.

It is important to discuss the positive and negative aspects of BIEL.

Some post on this board to affect PPS and create an advantage for their trading practices.

Others post on this board to push BIEL management to improve their effectiveness and create awareness for shareholders.

My posts are intended for the latter.

And how are the sales for Blepharoplasty since the 2002 breakthrough?

I assume they applied for FDA clearance because of a clear market opportunity...

What is the market size?
What is BIEL's market share in this space?
Is their a CAGR on their share growth over the past 17 years?

26 months, and counting, since the FDA approved knee and foot.

Knee Pain and Plantar Fasciitis Pain are fairly large...wouldn't you agree?

I am looking for success...but one can't ignore the past. What the hell is this management team doing?

Get it together people!!! Stop bitching and complaining and creating excuses. Get it done!!!!

Trust me...it isn't that difficult.

And YOU know that I know what I am talking about.

From 2011?

I am not sure if this is a good thing to show or an indictment on our management team.

8 years! Eight!!!! Years!!!!

Happy 4th to all.

To JGD: I tried your suggestion - heard nothing yet. That is frustrating.


To BIEL:

This is a small company and the entire show shouldn't be this difficult.

If the leadership team spent half the time/effort you spend on this board...that in itself would be enough to right this ship.

I am frustrated by the lack or entrepreneurial behavior over the short and long term by this team.

I don't car how small the budget is...these guys should be able to get this done.

Stop the infighting, stop the blame game, stop pouting.

Get it done.

This board is NOT the real world. Go out and sell.

I am wondering why they don't put the knee sleeve on Walmart.com as well. They need as many sales as possible to convince Wally

That would be an alternate solution. Comes with some issues...but it is an option.

1) Compliance is not optimal. Still takes some time to put on and take off.

2) Price point would actually be higher than sleeve option...have you check prices of elastic wraps?

3) ACE Brand is owned by 3M. The aren't the easiest company to get a AW good" deal with. They like to be the dog!

Trying to gain some clarity. We have post-op pain from FDA. As for wound healing...is there a separate FDA path...or is this already in place from the latest RecoveryRX approval?

Based on your answer...my next question...is there a separate plan for detailing would healing clinics or docs? Or is it the same as for Post-op pain.

Thinking about plastic surgery vs orthopedic type surgeries.

I agree. It was great to seethe latest validation from the FDA...but we need some results.

What "seems" to shout stakeholder to you? Can you give any cues to your deductive reasoning in this case?

You are welcome. But that product would be more comfortable without the non-breathable neoprene cover on the outside. The goal is 24/7 compliance. Difficult to wear that design all day. Should be lighter, more stretch, and 100% breathable materials.

j: just not enough time for all of that. Maybe for another retail. But this one is nearly expired