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fact....tv show on fox
fact....cancellation of debt
fact....nationwide distribution....there's some facts..lol
Regardless of how many times you mention a 4-day reporting requirement, no such requirement exists. Especially for a non-reporting company which isn't required to file 8Ks. Nothing in the standard 8K reporting requirments would include FDA correspondence, and the only reason most pharmaceutical companies file them in an 8K is to avoid insider trading issues.
Right, no legal requirement to disclose, however they face the risk of insider trading accusations if they executed any stock transactions between the time they received the response and when they made it public.
In regards to the convertible notes. Andy and his family, through various other companies, have loaned money to BIEL. The balance of those loans, plus any accrued interest can either be:
A) Paid off in cash, in which case no shares are issued and the OS remains the same.
B) Converted to shares at a given price per share. Some of those notes have specific conversion prices, and others are a certain percent of current market price. The IBEX debt, for example, has typically been converted at 20% of market price or less. Once this occurs they are typically sold directly into the market, although that is not always the case. In reality, even the ones that were issued with a specific conversion price don't really have one as they notes usually contain anti-dilution provisions and prices on convertible debt are usually renegoatiated as the pps declines.
As for how the Whelan family has made millions, that's pretty simple. During 2009, there were roughly 1 billion shares issued in exchange for debt, a majority of that being held by the Whelan family. IBEX received 430+ million shares at a price of $.0012 per share when the pps was trading between $.02 and $.08. Even if she only sold a quarter of those shares she would have made anywhere from $2-$8 million.
While that's true about De Novo, they should be able to get updates on the status of their 510k application for additional prescription indications. They haven't provided any updates on that in some time either.
I'm sorry, but I don't consider the Dr. Oz appearance to be evidence of anything. Bestsellers on Amazon? That really doesn't prove much either unless you can come up with some actual sales numbers. Look, I don't know what the demand is for this product, but for one reason or another distributors have not had any success getting the products into retail outlets. Maybe Greenwood will be more successful, but the constant delays are not promising.
Basis? I need a basis for a speculative question? Okay, how about the fact that BIEL has had multiple canadian distributors in the past and none have been successful in drumming up the demand from major retail locations.
I didn't state that lack of demand was for sure the reason, I asked if anybody had considered it a possibility. I personally think it is. I know it hurts your feelings anytime somebody brings up a possibility that isn't sunshine and rainbows, but try and think objectively for once.
What is your basis for saying it is not true?
Lots of pumping and dumping.
Has anybody considered the possiblity that the slow roll-out of the Canadian retail campaign is simply due to a lack of demand from retailers? It's hard to put your product on shelves when nobody wants it.
Smells like a setup to me. Enjoy the bump while it lasts, but no bid and R/S isn't too far down the line IMO.
Of course it has to do with BBDA. Where do you think all of the money came from when the racing team was active? BBDA "investors" of course. Since BW took over this company it has been nothing more than a printing press to fund his personal hobbies and I see nothing to indicate that has changed. IMO, of course.
Seriously? This is the strangest thing I've seen on this board yet. You know just as well as I do that nothing posted on this board has any bearing whatsoever on the success and/or failure of the company itself. If there is demand for the products and management is able to successfully execute a real business plan then the company has a chance to succeed. I doubt either of those to be true. Good luck if you really want to leave, but nothing you said on this board impacted the company's success or lack thereof.
Yes, because he's delivered on all of his promises to date. This is still a share dilution scam until proven otherwise, IMO.
Who gives a crap if they're listed as current or not? The financials are incomplete, inaccurate, and most likely completely fabricated, so their reporting status is irrelevant.
There are like 5 convenient stores within a few miles of their office and a headshop in Texas. That's about it.
When I think of all the money I have invested in the Lotto and or a scratch off and got nothing.
I doubt this was BIEL initiated. Much more likely a stock promoter took it upon themselves to set this site up.
OTCBB grace period for financial statements expires today. If financials have not been filed by COB, then they will be dropped to YESD.pk.
If it's not BLATANTLY obvious from the name of the website that it was setup by an investor and not the company then simply checkout the disclaimers. Why would a company want to name their website xxxxstock?
Disclaimer
BIELStock.com feature stock reports are intended to be stock ideas, NOT recommendations. Please do your own research before investing.
BIELStock.com has been compensated eight thousand dollars by a non-affiliated third-party, Summit Trading Inc. for its efforts in presenting the ATTH profile on its web site and distributing it to its database of subscribers as well as other services.
Also from the FDA website:
Medical Devices
Foreign manufacturers
Foreign manufacturers must meet applicable United States (U..S.) medical device regulations in order to import devices into the U.S. even if the product is authorized for marketing in another country. These requirements include registration of establishment, listing of devices, manufacturing in accordance with the quality system regulation, medical device reporting of adverse events, and Premarket Notification 510(k) or Premarket Approval, if applicable. In addition, the foreign manufacturers must designate a United States agent3. As with domestic manufacturers, foreign manufacturing sites are subject to FDA inspection. Information on U.S. regulatory requirements can be found in the Device Advice4 section.
Nope, sold my last position in November of 2009. I've just followed along for entertainment and curiosity reasons since then. Not just BIEL, by the way, I got out of the penny game altogether.
No big deal, I don't take any of this stuff personally. Being on the outside looking in keeps it all in context for me. I know people with actual money at risk tend to be a little more touchy, for good reason.
Well, if that's the case then obviously I was wrong in my understanding.
This could absolutely be the case, but that's not how I understood the FDA regulations to read.
I said I'm "pretty sure". I believe that it against FDA regulations to sell Class 3 devices to U.S. citizens without a prescription, regardless of what country it is shipping from. It is possible that I am incorrect, which is why I said that I'm not an expert.
U.S. citizens are able to purchase our products through our Canadian website www.actipatch.ca without an order from a healthcare professional.
Hmmm...that's exactly what "longs" were saying right before the last reverse split.
1) Andrew Whelan never invented anything, he bought the patent from someone who either didn't have the ability or the desire to bring it to market.
2) He's never been out of money personally. He and his family have made MILLIONS off of this company, and they are the only ones to have done so. At this point they are purely playing with public investors' funds as they have recouped any personal equity they put into the company many times over.
3) The company never should have been taken public to begin with. There are plenty of VC firms out there willing to invest in bright ideas with market potential, regarless of all the pourmouthing you will hear from pinksheet CEOs. The reason those companies are finding sources for funding is because nobody is interested in investing in the product, management, or some combination of the two.
All IMO of course.
No, it means they've already renewed their establishment registration through 2012. Nothing more and nothing less.
LOL. I turned off the iBox display a long time ago. I guess I should have checked their first. Thanks.
Speaking of shareholder letters, does anybody have the full text of the CEO's letter from August of 2010? It was replaced on the website by Staelin's ridiculous excuse for deregestering their shares, and I can't seem to find the full text of Andy's previous letter posted anywhere. It would be interesting to compare it to actual events. I do know that he made claims of imminent uplisting to OTCBB and FDA approval being "inevitable and close", but I'd like to read it again.
Well, yes obviously he's a man of his word. Just because he said he wouldn't conduct a reverse split before and then did so without warning doesn't mean he will do it again, right?
I agree. If you know it then post it. Who cares if some people don't believe you? It will then be up to them to call and verify themselves.
I don't follow your logic, but ok. If a company was interested in acqiring/investing in BIEL they would either make an offer to purchase the company or enter into a financing agreement in the form of convertible debt. Either would provide much more protection from falling share prices than buying common shares on the open market.
Why would they do that? Common shareholders have no voting rights in respect to the company so they would have no influence. If some company came in and bought up all of the common shares then Andy could increase the AS tomorrow to 10 billion and issue them to whoever he wanted or drop them on the open market. This is not like a typical publicly traded company where shareholders have a say in the company's direction.
Company can't just sell shares because they feel like it.
I bet it has to do with their race team.
When he brings up the only facts associated with this company:
Massive Dilution
Gagged TA
Product unavailable for purchase by virtually all of the known world
Unaudited and questionable financial statements
History of misleading PRs
Recent reverse split and rapidly decreasing share price
Then people complain. Now people complaining when he voices his opinions. Olaf simply can't win.
Not to mention that most people are awake 16-18 hours a day and when they are awake they prefer to drink things that keep them alert. There is only one time a day that most people want something to make them sleepy and that's right before bed. The question then becomes would you rather drink 12-16 ounces of soda right before bed knowing that it will likely cause you to wake up at some point in the evening to use the restroom, or would you rather take a fast-acting pill that is stronger and won't have the same adverse effect? Most will opt for the latter, IMO.
I think it's too early to call a bottom until the dilution stops. If they raise the AS again you could see some panic selling.