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It wouldn't surprise me at all. These people have no ethics whatsoever as long as they can continue to fund their racing addiction.
One heck of a career this guy has had:
http://www.nascar.com/drivers/dps/claffert00/truck/index.html
I'd say there is little to no chance that show ever ends up on the air. BW saw an opportunity to get one of his Nascar buddies to help him sell shares and jumped on it. SHARE SELLING SCAM. IMO, of course.
GoldenBull - Are you around? Any update on the current share structure?
The investing world would be an infinitely better place if the conclusion of that article come true.
Hey that sounds great!!! Except that their financial statements are incomplete, unreliable, and most likely entirely fabricated. IMO, of course.
Whoops, did I say 2 weeks? I meant 2 hours.
While I agree that the poster you are replying to is clueless and has a grudge against BIEL, I'd also like to point out that Sales do not equal Earnings. Earnings are profits, so you would need $21 million in profits to support your calculation, not sales.
A monkey could maintain current status on Pinksheets and the financial statements are completely unreliable and likely fabricated, IMO.
IMO, once this share selling scam falls below .001 (sometime in the next 2 weeks) it will be a free fall straight to no bid. Buyer beware.
Somebody dropped $1.50 on this bad boy this morning. LOL.
Not one mention of the soon-to-be-released UAF study results? That seems odd, does it not?
Should be released by 3/30/12. Companies have 90 days from year end to post their annual reports.
Here you go:
Andrew J. Whelan, CEO, President and Board Member
Mr. Whelan is a founder of the Company and has served as the President and Chairman of the Board of Directors since April 2000. He is a seasoned business executive with a strong financial, consulting and management background. From 1993 to April 2000, Mr. Whelan served as the President of P.A. Whelan & Company, Inc., a consulting firm owned by Mr. Whelan and his wife that specialized in the health care industry. Mr. Whelan was also a founder of Drug Counters, Inc., a chain of managed care retail pharmacies, where he served as President and Chief Executive Officer from 1992 until 1993. Drug Counters was sold to Diagnostek, Inc. in 1994. From 1984 until 1992, Mr. Whelan served as Chairman of the Board of Directors and President of Physicians' Pharmaceutical Services, Inc., a public company of which he was a founder. Physicians Pharmaceutical Services was a charter member of the Maryland Chapter of Inc's Fastest Growing Companies in America. Mr. Whelan received his B.S. in accounting from St. Peter's College. Mr. Whelan does not currently own BioElectronics common stock. Mr. Whelan does not serve on the Board of any other public company and was not compensated for his services as a member of the Board of BioElectronics during 2010.
Well you can check the form 3 filings and confirm for yourself that as of January he owned 0 shares directly. That's beside the point however. What I'm saying is you have no idea how many shares him or his family own today, and neither do I. I bet it's less than you think they do however.
That's the problem. Nobody knows how many shares the family owns, if any at all. We know that back in January his wife owned about 500 million shares (through St. Johns, LLC, not directly), but we have no idea how many of those might have been sold through the year. Andy doesn't hold any directly, and neither does anybody else in his family. You guys are making assumptions based on old and likely unreliable information.
No argument from me on any of what you said. I fully acknowledge that the design and indications are completely different, but to me it indicates that the FDA is leary of putting any PEMF device into class II because they don't want other devices to be able to use it as a predicate. A lot may have changed over the last 6 years and that stance might have changed, but it is one of the hurdles BIEL needs to clear.
I think it's way too soon to draw a conclusion on that topic. However, if you read the documentation on the last PEMF device that attempted reclassification to class II, you'll see that the FDA seemed to be just as concerned about allowing other PEMF devices to gain approval via the 510K process as they were about the safety and effictiveness of that specific device. The want PEMF devices to have to go through the PMA process to ensure tighter controls over testing.
Now, I recognize that BIEL's device is not the same, but reading through this was pretty enlightening to me so I thought I'd share.
http://www.fda.gov/ohrms/dockets/ac/06/minutes/2006-4224m.pdf
The Chairman asked the Panel members to explain the reasons for their votes. Dr. Walker said that the 510(k) review, FDA review, and inclusion of possible clinical studies in the guidance document would be sufficient safeguards. Dr. Propert said that more studies will be needed before it is possible to define a generic device. Dr. Nelson concurred with Dr. Walker. Dr. Naidu said that there is inadequate clinical data and the available literature is poor. Dr. Mabrey said that device output can not be equated to device effectiveness and the risk of an ineffective device would be hazardous to patients. Dr. Kim said that the key question was whether or not a new device could be compared with a predicate device. With the complexity of the healing and fusion process, he did not believe that parameters of comparison could be established. Until standards of comparison are developed, a PMA should be required.
If the standard for being the leader in the "relaxation beverage" industry is PRs/Day then BBDA is far and away the champion.
You've got another poster from your side of the fence (at least today it's your side since you're long) confirming the same information. If that's not enough then ingore the numbers and act like the company is abiding by its self imposed AS.
I congratulate you on coining a new term "operational dilution". However the statements Andy has made in the past were that they had enough financing in place that they would not need additional dilution. You can try and doubletalk around it all you want, but they are diluting to pay the bills which he has stated on multiple occassions would not be needed.
You and Andy must have gone to the same school of PR. :)
I just wish they only did it one week a month.
If you look at the Q3 financial statements it appears that they've taken to selling stock directly into the market again. As far as how many shares would need to be issued if they decided to convert all of the debt? Billions.
According to the attorney letter on Pinksheets:
BioElectronics Corporation was incorporated in the State of Maryland on April 10, 2000. The Fiscal Year End for the corporation is December 31. As of September 30, 2011, the authorized capital shares of the corporation were 2,000,000,000 at $0.001 par value, with 1,759,781,871 shares issued and outstanding, of which 1,678,295,249 are freely tradable. Un-audited Annual and Quarterly Financial Statements have been
posted via the OTC Disclosure and News Service, which is available at OTCMarkets.com.
Oh, I agree with your last statement. And anybody that does even the smallest amount of DD can see the increase in the OS over the last couple months and know that significant amounts of dilution are occuring, regardless of what Andy may want people to believe.
All start up must have some dilution.
Thanks for taking the time COM, but given that he flat out lied about dilution I can't see how anybody could take anything else he said at face value.
Somebody call the TA because it looks like the faucet has been turned back on.
Big sells stacking up as we speak.
Just need to hope that the dilution is indeed over, because if they start dumping at the current bid it could get ugly.
Current bid/ask = .0037/.0048
The spread has widened quite a bit.
Pushing PEMF in general or actipatch specifically? I didn't watch it and I've read conflicting reports based on personal bias.
Today's trading should be fun to watch. Will it run on the national exposure? Or will it be a sell the news type event? After the initial 30 minute head-fake (one way or the other) we should see what the market really thinks. Good luck.
"Yet" would imply that it will be approved. Nobody knows that for sure.
No, that is correct. I'm talking about their pending application for additional post-operative pain.
I am no expert on the knee product, but I believe it's for a very specific indication. RecoveryRx is being reviewed for a wide range of generic applications I believe. Plus, the clinical studies on the knee product may have been more extensive than RecoveryRx. All of this is pure conjecture of course.
The knee brace is approved as a class III device and needs a prescription I believe. BIEL is trying to get theirs approved as Class II for OTC sales.
Dr Oz: Actipatch Review
The Actipatch is a cheaper method but it has not been FDA cleared for medical pain. Dr Oz had one section of the audience members try the Actipatch. He spoke to one of those audience members who stated that it felt good and was soothing. Dr. Pawluk stated that he would recommend this product but that it does take longer to see results.
FBSF, I assume you're the same FBSF from the Yahoo board, correct? In regards to your post about people hearing about PEMF on the Dr. Oz show, while it will indeed bring attention to the technology to many people who have not heard of it before, I don't expect many of those people to run out and look for a company in which to buy stock, do you?
There should be an increase in the number of people looking into trying out PEMF products, but the lack of availability in the U.S. will probably limit the increase BIEL will see in sales. Any publicity is good publicity, but I would temper expectations.
That's all well and good, but unfortunately, to date, they have not shown an ability to market the product in the markets for which they already have clearance. From a fundamental valuation aspect, a 1X revenue value would mean the current market cap of BIEL should be less than $1 million. It is currently 10X that amount. That means there is already some expectation of increased sales baked into the current market value.
If we assume that FDA approval occurs, and they start earning a profit, then they would need $1,000,000 in earnings (profit), not revenue, to support a PPS of $.01 at a PE ratio of 20. If we assume that they maintain a gross margin of around 50% like it is today (that will probably drop as they discount their sale price to sell to bulk distributors) they would need to increase sales to $6-$7 million per year just to cover their current expenses.
That, of course, assumes expenses remain constant which they won't if they start to mass market the device. All of this to say that a huge, sustained, increase in PPS is not a given just based on FDA approval. Once that hurdle is cleared, it will depend on management's ability to successfully market and sell the products in the U.S.A. Given their track record in other countries, I would say that is far from guaranteed.
If you read Variant's stickied post you'll see the information below:
The transfer agent has the A/S limit set to 12,495,000,000 (12.5 Billion) by the CEO of BBDA.