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I have not seen anything indicating BIEL has been delisted. Do you have a source? I believe E*Trade will allow share purchases. There have been no trades today (as of the time of this post), but nothing on delisting.
What are your expectations?
Regarding financials, don't expect any until the next annual report is due - BIEL no longer files quarterly reports. Regarding news - there likely isn't anything KW is willing or able to report. She has stated when she has news that she can release she will do so. What else is there then?
A few folks tried very hard to generate some interest in this over the past couple months. We had charting 'experts' and technical traders (almost always ludicrous in pennyland but whatever), constant reports of 'a million new viewers' and 'most read board', golden crosses, etc., etc. All that was clearly a weak attempt to create a pump that managed to move the needle from .0001/.0002 to .0003/.0004. Blue sky past .0005 never materialized, because those million new views didn't generate millions of new buyers. Frankly, without news there was zero reason to expect that the pump would succeed.
At least a couple posters were hoping KW would do something to capitalize on all the new 'interest'; to her credit, she didn't do that. Essentially BIEL is back to churning, which is where it has been for months. Without news, there is little reason to expect anything different. At this point the ten-day volume average is dropping back to it's pre-pump level, and if today's extremely weak volume continues, it may well drop below previous levels.
We are almost 3/4 of the way through the year after the 'Year of BIEL'. What you have is more churning, KW's inference that deals are in the works that cannot yet be disclosed and hopes pinned on the NOPAIN Act. Whatever news KW has when she releases it had better be strong - we are a long way past the days folks were calculating profits from the proposed 975,000 units the Synergy deal was to generate.
Kelly is right about the dwindling numbers of independent vet clinics, as national corporations have been buying them out for a number of years. Getting into the national 'chains' is similar to breaking into the big box retail stores. It does make things more difficult for a small company, and hitting the one-offs is tough without a dedicated sales force. Still, she is trying.
In general, sales at the 'bid' are classified as sells, sales at the 'ask' are classified as buys, and sales in between are usually tagged as 'neutral' or 'undetermined'.
In general, trades on the bid are classified as sells, trades on the ask are buys, and trades in between are neither, so they can list as neutral or undetermined. Again, that is in general.
That's interesting.... I read something about MundiPharma 'not being in it for chump change' repeatedly on this board. Appears they weren't really 'in it' at all. Suing an overseas company for breach of contract would take time and effort - not to mention the funds required, which clearly BIEL doesn't have. If the contract were iron-clad that would certainly help. That said, it could take years to sort it all out. Optimistically, perhaps they could arbitrate a quick settlement for some much needed cash. One can hope anyway.
BIEL stopped being an SEC registered company years ago. It would be nice if BIEL had continued to file quarterly financial reports. They don't have to, and they no longer do so, which earns them a Pink Limited Information sign on the OTC markets. That's it - there is no punishment or legal recourse or anything else. If BIEL decides not to file the next annual report it will earn a STOP sign, which will further dissuade newcomers from investing. We have to wait to see what happens when the annual report is due next year.
There are many OTC pink sheet companies that continue to operate and trade as Pink Limited, and even with STOP signs, though the latter gets very dicey for investors. I cannot think of a single positive reason for stopping quarterly filings. It could be a cost saving issue, but that isn't a positive development. Investors are now in the dark essentially regarding BIEL's performance. The utter silence since the Synergy deal was announced isn't helpful either. The stock is just churning now, waiting for some solid news, positive or negative.
FYI: This is the BIEL board, NOT the BIEI board.
Oh, the irony.......
BIEL would likely have to do something (or not do something) to earn a STOP sign. If the plan is to report annually and not quarterly, then I would not think a STOP sign would be triggered. I believe this can bounce along for awhile without quarterlies, file the next annual report, and keep on trucking. Sure, lots of other things can happen; just doubtful without another trigger event that BIEL's status changes substantially.
Yes, and there is a way to go yet to get to gray sheet status. I don't foresee that, despite the apparent halt in quarterly financial reporting.
The ins and outs of the daily Reg Sho report, and what it portends, has periodically been discussed on this board. It's significance, or more importantly, its lack thereof, is almost universally misunderstood when it comes to OTC penny and sub-penny stock trading.
There are a number of sites, including SEC and FINRA sites, that are most helpful. The following OTC Markets blog is very good:
https://blog.otcmarkets.com/2023/05/08/what-investors-should-know-about-finra-daily-short-sale-volume-data/
It includes the following:
Nearly 100 million shares dumped at .0003. Oof. Looking at .0002's now. Really wasn't expecting that.
Somebody off-loaded 25 million at .0003 this morning. Painful
I periodically go to the BIEL corporate website; took another look today to see if there is anything under 'career opportunities', but it states there are no opportunities at this time. Then again, I don't know how often (if ever) the website is updated, as the last financials reported there are from 2021.
Meanwhile, Kieth Nalepka's LinkedIn profile no longer indicates he is on the BOD of BIEL at the top of his profile as it once did; however, it still indicates he is on the BOD under the 'activity' section. The thing is, if you fail to put an end date on anything showing in the activity section, LinkedIn will consider it current until you apply an end date, if I recall correctly. He may very well still be on the board, but it is very unclear how much work he is doing on behalf of BIEL, if any. He clearly has a new position with another company, which may not take kindly to moonlighting, if that is in fact what is taking place.
Financials would provide some clarity, but no sign of them. I am beginning to think they are not forthcoming, which is surprising since BIEL has been good about providing them previously (even if late periodically).
Doesn't work that way in the OTC with a non-SEC registered company; at least around not filing financials. BIEL has the 'limited info' sign up. Eventually it could become a 'stop sign', but that takes time and continued missed filings. The only consequence for that is it usually scares off prospective investors, and trading skids to a trickle on its own without any formal sanctions.
No matter how bad financials are, better to have them and stay current then leave everyone guessing. The longer they are late, the more speculation ensues. Is it just bad numbers, or something else? Or maybe BIEL just decided to report annually only. Maybe it saves outside accounting fees. We just don't know, and uncertainty isn't a positive.
I wasn't suggesting BIEL do either an R/S or declare bankruptcy; just pointing out that poor cash flow can sink even a profitable company, and profitable companies with negative cash flow have been forced into reorganization to stay in business. Investors wouldn't care for the results of either option at this juncture, but I am not anticipating either to be undertaken.
Again - would be nice to get financials. No quarterly report, and no explanation, does not create positive vibes.
A CPA that goes 'inactive' doesn't really relinquish the CPA designation. An inactive CPA does not have to retake the CPA exam to reactivate the license. I also believe someone can claim having earned the designation even if it is inactive, as long as it's made clear that the status is inactive. Now someone with in inactive status cannot certify financials as a CPA - that has to be done by a CPA with an active designation. That said, BIEL has an external CPA to do that, which is standard practice in most companies regardless of how many active CPAs are on staff in an organization. It's a very common scenario.
All that notwithstanding, it's frustrating to have the financials outstanding at this juncture. BIEL's financials have been traditionally straightforward, and as someone pointed out previously, a good deal of the quarterly report is a cut and paste from the previous quarter. It's sales, profit/loss, and cash flow that are critical and it doesn't (or shouldn't) take much to put that together. We are not talking about a company with multiple subsidiaries or complicated accounting issues, at least historically, and there is nothing to indicate that has changed. It is tempting to conclude BIEL cannot afford to pay and external CPA to sign off, but I cannot imagine things are that bad in terms of cash flow. Then again, it is possible for even a profitable company to require a bankruptcy reorganization due to negative cash flows; though that seems counter-intuitive, it does happen, and BIEL is not a profitable operation.
Getting the fins out - regardless of what they show - would stop speculation and be a positive development. The longer they go unfiled, the more speculation it will drive, and the more negative that speculation will be.
It isn't necessarily that anything in particular happened with regards to Kelly's CPA license being inactive. If a CPA isn't actively a practicing CPA, or actively doing CPA work for a company, they can let their license be parked as inactive. My last firm had a number of executives who started their careers as CPA's within the business but had taken operational leadership roles and were no longer doing accounting related work, so their made their licenses inactive. I believe there are things like continuing education courses required to keep these active, and these individuals didn't have the time or the need to do that. They could always have reactivated them had they so desired. Very common in some industries.
I know of CEO's for companies who were CPAs and had deactivated their licenses. They had entire departments working for them to do that work. In Kelly's case, she isn't working as a CPA, even if she does the 'books' for BIEL, and I believe she gets outside CPAs to prepare the reports. Makes sense in her case.
Q2 financials were due August 15th.
One box is delivered which contains two sealed packages. Package One is the 7 day trial ActiPatch. Package Two is the 720 hour ActiPatch unit.
Recipient can open the 7 day trial ActiPatch and use the product. If results are not satisfactory, unopened Package Two can be returned for a full refund. If Package Two has been opened, no refund can be obtained. Recipient won't be likely to open Package Two unless the trial verson performs satisfactorily.
It makes sense to me considering there are two separate product items being delivered.
The way I take that is: Use the 7 day trial ActiPatch. If that doesn't work for you, return the ActiPatch 720 for a refund, as long as the ActiPatch 720 box has not been opened. Two separate products in two distinct packages, yes? I think that would cover it.
I see 200K shares traded on the uptick.
Thanks - missed the updates. I hate to see what is devolving here; so much mud-slinging. Perhaps the updates will be helpful. Appreciate the info.
/low bars...fat fingers