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The negativity is due to the fact that the company's main product is shares, not hormone laced grape soda. They sell shares to fund vacations and hobbies at the expense of common shareholders. Hopefully you are more successful selling the product than any of the other PR'd distributors, although that's not a very high hurdle to clear. Regardless it won't change the fact that the printing press is going to keep churning until this is no-bid and then there will be another reverse split.
Well, if their goal is to get kicked off of OTCBB, and that appears to be the case, then they're definitely going the right direction.
No, they are no longer required to file with the SEC. However, OTCMarket still has filing requirements in order to be listed as current on the pinksheets. Failure to do so results in the dreaded skull and crossbones, which BIEL has received in the past.
I think you should clarify that it is BIEL CEO's belief that the FDA has all necessary data and all questions have been answered in order to render a decision, be that clearance or not. Investors have been told that all information has been submitted in the past, only to have the FDA come back with more questions.
I hear you ghost, but given eMarkets purchased $2500 worth of product for the entire year of 2010, I find it very hard to believe they all of sudden needed to make a bulk purchase of $200K plus. Again, this is all my opinion and I'm sorry if some here feel it is insulting. Good luck as I'm out of posts for the day.
Never said it wasn't, and the mod would be perfectly within his rights to remove that post. Have a good day folks, and form your own opinions on this company. Don't make your decisions on supposed conversations with the CEO. Use the actual verifiable information included in the financial statements and PRs to form your opinions.
Believe what you will, but there is, IMO, very little chance of them actually selling $200K worth of vet patches in 1 quarter. It looks to me like BIEL is doing their own accounting now, so they didn't have to force anybody to do anything.
Again, I disagree. They were forced by their former auditor to restate their 2009 financial statements due to large sales to eMarkets and JN. If these financial statements were being reviewed by the same auditor then I believe they would not show the sales that they do. You can disagree with me if you wish, but you cannot tell me not to post my thoughts.
I don't think I am, but for investors sake I hope so. They used fake sales to eMarkets in 2009 to inflate their numbers, and IMO they're doing the same thing again. Good luck.
Unfortunately IMO BIEL management has decided that since they no longer file with the SEC they are free to use deceptive, if not outright fraudulent, accounting tricks to inflate their revenue numbers. I thought they were done with this after the BS bill and hold transactions from 2009, but apparently not. I'm stepping down as mod since I don't want to mod a board for a company who, IMO, deliberately deceives their investors. Feel free to step in and take charge ghost.
Unfortunately I think the numbers are even worse than they appear. They reported total revenue of $319K, which in and of itself sounds respectable compared to prior results. However, if you read the notes you'll see that they recorded sales of $214K to eMarkets LLC who markets the veterinary patches and is owned by the CEO's sister. They sold a total of $2500 worth of veterinary patches for the entirety of 2010, and now they claim to have sold over $200K in 3 months of 2011. Personally, I'm not buying it.
Also, if you compare revenues from non-veterinary patches to prior quarters, it is down significantly. I know the ultimate success or failure of BIEL hinges on FDA approval, but these numbers are very, very bad IMO.
What does any of that have to do with product sales? Nothing of course. Do you go out and order products for every stock you invest in? I don't, and neither do 99% of investors. Anyways, I'm done responding to you because all of your points have been addressed ad nauseum and it is clear that your main goal is to argue and not discuss. Good luck.
No, since it cannot be advertised or marketed in the U.S, I'm fairly certain that the statement "the majority don't know about it", is 100% fact.
And F150 sales are the key to Ford's success, but their other cars contribute to sales as well, obviously. And of course approval matters, regardless of how many times you say it doesn't. The question that remains is HOW MUCH will it matter.
"The accounting firm is finalizing the numbers" is pinksheet speak for "it's really not a priority for us right now since we aren't required to file on time anyways." BIEL's books simply aren't so difficult for it to take this long to finalize the financial statements. They'll file them eventually, but until they become SEC reporting again they'll do it whenever they feel like it, regardless of the impact on shareholders. IMO, of course.
Wow, no wonder they waited so long to file their 10Q. That is one ugly set of financial statements. Looks like they had to wait until they'd sold enough shares to pay the filing fee.
So, until the end of time?
You just repeated exactly what I told you. So, I guess you're saying you agree. Great.
If you had been following the company closely you would know that BIEL has received Not Substantially Equivalent notifications from the FDA for both the Actipatch and Allay 510k filings. They are currently awaiting a response on their De Novo reclassification request. If the reclassification is approved then they will achieve category II clearance.
They expect a quicker response on the Recovery Rx 510k because it is for clearance as a class III device. It has already been approved as a class III device for a similar indication so it can use the same approved device as a predicate for the 510k application.
Perhaps you're not as up to speed on this company as you claim to be?
Well, technically it's YESDE. I don't want anybody to get confused as to the ticker.
Finally down to $.0001. No bid coming up so nobody else gets suckered into this share selling scam.
Message for BW. Putting out an even more useless PR, hours after sending out the first useless PR isn't going to help you sell more shares. It's about quality, not quantity. It's time to change your strategy for trying to inflate the share price.
I'm not sure you're reading the same PR I am, but it clearly states that the trial is about 20% complete, which would mean 40 out of 200 participants have gone through the trial. It is impossible for the results to be known when the trial isn't complete, especially when it's double blinded so that the results have to be sent to an independent 3rd party to be compiled and published.
$300K to file with the SEC is a gross overstatement, IMO. If you look at their 2009 audited financial statements you'll see their total audit fees, including a 3 year back through 2006, were less than $30K. This is much more reasonable for a company of BIEL's size. BIEL was incurring some one-time additional costs due to failure to file their required filings historically, but those would not have been part of their annual ongoing costs to remain SEC compliant.
Do they save money by not filing with the SEC, sure? Is it worth it in the company's best interests? Maybe. Is it good for investors? No, less transparency is never good for investors, IMO.
That is a question I do not have an answer to. My guess would be that the doctor prescribing the patch would have to have stock available at his office, but I don't know.
LOL. It's funny that IHubbers think they have that much control over the price of a stock to begin with. The mood on the IHUB boards is a function of the performance of a stock, not the other way around.
No, the only U.S. clearance it has received to date is as a category III device so it requires a prescription in the U.S.
YESD officially listed as "Limited Information" on OTC Markets. Downgraded from OTCQB to Pinksheets.
CLASSIC! I love this company and its management! They don't even try to disguise the fact that they are a share selling scam.
Another shareholder sponsered vacation for BW. Rejoice!
It is YESD's responsibility to compile the necessary backup documentation to be able to properly prepare and file their financial reports. "MDHI is slowing me down" is not a valid excuse. I have no doubt that all of the relevant revenue and cost information has been made available to YESD in order for them to accurately record their portion of the MDHI agreement, as small as that number is likely to be. All of these transactions occurred during the 2nd quarter and there are transaction receipts for each and every one. Do you think that MDHI doesn't have the information they need to file their Q1 financial statements simply because they haven't filed them? That's ridiculous.
The information is available to YESD and it is their responsibility to file on time, bottom line. Failure to do so is a violation of SEC reporting requirements, no matter what excuse management might try to throw out there.
You seem to be operating under the assumption that YESD can not verify the sales made under the sharing agreement without MDHI filing their 10Q. That's a poor assumption. It's a 50/50 split and both companies are likely tracking the sale numbers. Another company not filing their 10Q on time does not give the other company relief from their obligation to post timely quarterly filings. YESD had no problem "deferring" their huge Wordsmart revenues from Q4 when it was going to impact their ability to file on time.
YESD can make all the (poor) excuses they want, but they are in violation of the SECs regulations of reporting, period.
I'm sure YESD has the ability to track the sales for which they share revenue independently of MDHI, so that's not really a legitimate reason for being late on their filing.
Well, now they are officially late as the 10Q needed to be filed by COB Friday. It wouldn't surprise me if their intent was to get removed from OTCBB and dropped to the Pinksheets. There's a lot less transparency required from a Pinksheet company.
I think you'd be surprised how effective NASCAR sponsorship can be for ESTABLISHED brands and products AVAILABLE IN STORE. In BBDA's case, however, I agree that it is a completely inefficient marketing strategy.
Ghost42 - will try to reply during my free PM time tomorrow if schedule allows.
Ghost42 - Thank you for the PM, unfortunately I cannot respond the same way as I do not have PM priviledges. I am doing my best to enforce the IHUB TOS as I interpret them. I am, of course, not perfect in my interpretation. Luckily the admins afford all IHUB members the ability to report TOS violations directly to the them, via the red "Report TOS Violation" link at the bottom of each post. I encourage everybody who believes that a post violates the TOS and has not been removed to avail themselves of this function.
Removing posts that are not in violation of the TOS results in those posts being reinstated and eventually removal as board moderator, as my predecessor unfortunately learned first hand. If you would like to take over as board mod I would be happy to step down.
Griffin (not Griffen), still doesn't list Koma among the products they distribute.
http://www.griffinbev.com/links.html