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Have to get someone with solid tax experience. There are limitations to the amount an acquiring company can claim from the acquired company's NOLs; spelled out in IRC 382. There is a good outline of it here:
https://www.law.cornell.edu/uscode/text/26/382
Ouch...lol
Nice object lesson of the utter foolishness to attempting to apply technical trading methods to sub-penny stocks. About as realistic as Sales Track. Usually when one sees technical trading analytics in the OTC, it's a prep for a P&D/flip play, and nothing more than that.
'Year of BIEL' number 5 is just about half gone. We are ten months past the Synergy presentation, and the presenter of that hype has taken a position elsewhere. The company is silent, other than reporting three consecutive abysmal sales quarters.
Barring news, this should continue to churn daily as it has for the previous 4 'Years of BIEL'. Then again, we can always remember when we could get shares at .0006 - and essentially overpay for them at that price.
East Palestine called - looking for assistance getting the Green Light Express out of residents' backyards.
So just so it's clear:
* There has been no communication from the CEO or COB for months
* There has been no communication from Keith since the Synergy call in August of 2022
* It appears based on Keith's LinkedIn profile that while he remains on the BOD of BIEL, he
has taken a position elsewhere.
* The share price has tanked to .0003/.0004
* Q1 financials are late, with no word on release
* BIEL's website has not been updated to include any financials since 2021
Somehow, though, these are being construed as indicating positive things are going on, right? These are the triggers for .09 per share in 2023 - is that the gist?
Um, not sure someone can come up with something more ludicrous, but then the day is still young.....
Well, if anyone entitled to it tried to collect interest, where would the funds for that originate? Cash flow is always red, and there have already been a few very high interest loans taken out. There aren't funds to cover those interest payments without a massive product order. Not even sure with the last two abysmal quarters even a high interest loan is an option, unless a big receivable is lurking as collateral.
As for a VP of sales, maybe Keith can still try to broker some deals on the side despite the new gig, so he doesn't get replaced. Or someone already retired could step in and work deals on a commission only basis of some sort. I have always expected poor cash flow to be the real danger for BIEL, even more so than lack of sales. There have been profitable companies that filed bankruptcy due to cash flow issues...and BIEL is hardly a profitable company.
I think the biggest thing keeping the share price from falling too much further is the willingness of longs to get in even deeper when the share price drops. Regardless, interested to see those sales numbers from Q1, but more than that, the status of those outstanding loans, perhaps a word about Keith's fuzzy status, and an update on cash flow.
I would not be shocked to see a report at 5:00 pm tomorrow - and won't be shocked if the complete silence continues either.
If BIEL stops quarterlies, that would really hurt the PPS, not that it isn't hurting already. It's funny to remember the 'days you could get BIEL at .0005', when the price hits .0003/.0004. If Kelly doesn't get any fins out we could see .0002. I can see them dropping tomorrow at 5:00 pm. If we don't, all bets are off. At least Paul says 'they are coming'. I can't imagine them being too wonderful.
The convoluted machinations around tying Keith's new role to 'big news' is fascinating at least, spurred by the company's complete silence. Talking about clutching the narrowest of straws. Pretzel logic.
What happened to those overseas approvals that were coming within weeks back in August around the Synergy deal? Crickets. Nice PowerPoint though - the last word from the company. Seems eons ago now. We don't even get pictures of pallets anymore. Maybe it's just a box or two at a time now.
Be interesting to see if financials come out tomorrow - 5:00 pm before a holiday weekend....
If's, whishes, and dreams - the story of BIEL.
B. Braun. MundiPharma. NHS. CVS. The VA. Hundreds of sales reps. A plethora of world-wide distribution deals. Synergy. The list goes on and on - and what's the result? Two quarters of the worst sales in history, utter silence from the company, a share price of .0004, and late financials, among other things. BIEL doesn't even bother to update its website with latest filings anymore - the last financials on its website are from 2021.
There is always a new hope or hype to keep it limping along. At this point those can only elicit yawns.
Working for free....Yeah that's tough to replace. He must have had some side gigs going, no? Meanwhile someone just dumped 21 milly shares. Oof
Saw Keith's new gig on his LinkedIn profile. Still lists him as a board member at BIEL I think. I would not think that is good news for BIEL, as it seems Nalepka was instrumental in putting together all the distribution agreements since he came on board. Then again, the end result was two abyssmal sales quarters back to back, so.......
How long has it been since the PowerPoint call trumpeting Synergy? Nine months? Long enough to give birth to something one would think. Meanwhile late Q1 financials. Those should be revealing. Then again, it's all about Adcock now - the latest in a long run of partnerships like Mundi, B. Braun, etc., etc. Maybe Synergy is looking for the 200-300 missing reps that were going to 'hit the ground running' a few years ago. Seems they hit the ground and disappeared. Weren't those Russian sales reps, or was that a different group? Those guys probably wound up in Ukraine.
Train is boarding still - this time in East Palestine judging from the Q3/Q4 2022 figures..... Always the same - all hat and no cattle, or all hype and zero performance.
PFFT.... years of medical school, then residency, etc., etc. Even if fruitful it's years away. In the meantime it's just more of the same hype, just a different year. Instead of 200 Russian reps it's 40,000 doctors in training.
Every year it's been some huge trigger that would get this to a penny and beyond. Tsunamis, moon shots, trains leaving stations, first class reservations, repeated 'years of BIEL'.
All of that - for years now - and it's a paltry <$50,000 sales quarter and .0004
More of the same coming in 2023.
Yes; I don't think anyone landed on a 'yes' or 'no' regarding the statute's application to BIEL, but there is a reference to it's being confined to SEC registered companies, and BIEL is no longer an SEC registered company, so.......
At any rate, every previous 'YEAR OF BIEL' event has petered out into virtually nothing. There was B. Braun. There was MundiPharma. There was the VA. There was the NHS. There was CVS. There were multiple multi-national distributorships. There were 200 Russian sales reps 'hitting the ground running'. It was retail. It was OEM. Now it's Synergy. Years of BIEL 2015, 2016, 2017, 2018, 2019, 2020, 2021, and now 2022 all by the wayside. Now' it's 2023 on the ever-changing banner.
Meanwhile - .0005-.0007, and an horrific sales quarter even by BIEL standards. This is the share price that 'will never be seen again' - also since 2015. And yet - here it sits, churning as usual.
Yeah, I thought as much. Still a good call. He was clear on timelines to get OEM's fully operational with product, which was smart. Most of the impact will be 2023 IMO.
Another few months won't bother investors who have been waiting for years at this point. Illustrating a solid go-forward strategy doesn't hurt.
Fair enough - I didn't take but a cursory look, so didn't dive into the dilution issue.
All in all, I just didn't think the fins were that awful. Definitely their cost of goods sold is low - that's a positive. Not sure how much low R&D hurts at this point.
I do think the biggest concern is cash flow, aside from discussions of which companies are restocking, if they are, and at what volumes. BIEL is paying the high interest loans at least. That said, again, it is not at all uncommon for even profitable companies to have cash flow issues - sometimes serious enough to cause a bankruptcy filing. BIEL has to get to a positive cash flow at some point.
Will be interesting to see how the PPS reacts the remainder of the week.
It's not all bad really - not at all.
The good:
* Though sales dropped vs. same quarter last year, but they weren't atrocious
* Cost of goods dropped significantly vs. same quarter last year
* Operating profits are there (before interest expense) - that's a positive
* Good chunk of receivables in the asset category
* BIEL is making the loan shark payments (no default)
Dilution was a necessity, since it's clear cash flow remains a significant issue (and there is still virtually no cash on hand). The continued carrying of payroll taxes and interest is concerning, but it's been going on so long it does not seem to get noticed.
Some good stuff overall - whether it does anything for the share price will be seen soon enough. I think it's another quarter of churn on the PPS, but really there are some bright spots. Cash flow remains a core issue - and even profitable companies can have cash flow issues. A lot of that can result from the timing of payments received for goods, and happens to lots of companies. Sadly some file bankruptcy if the bleed is too great, and no that is not a prediction for BIEL - just a statement that it does happen.
Overall, not awful and some definite good nuggets. I don't think it moves the train much - but we will know in short order.
Steve:
The three critical items for the next round of financial will be: Sales, Operating Profits/Losses, and Cash Flow.
That last item - cash flow - will be most interesting, particularly if there are operating profits combined with negative cash flow. The last report showed extensions of one high interest loan (26%), a new loan at over 70% interest, all while cash on hand dropped to virtually nothing from over $60K the previous quarter. That's a huge red flag that needs to show some improvement in Q1.
Even profitable companies can experience negative cash flows, and when they do it's a big negative. Positive movement on these three items would be a huge boost. If the first two improve, but cash flow doesn't, it could negate the positive impact. We will know in short order.
What I posted is directly from the BIEL financial statements, and the current share price. I don't think either are particularly entertaining for shareholders. Or are BIEL's financial statements for 'entertainment purposes only'?
But:
Hmmm.... all that, and yet this:
Correct - negative cash flow has gotten more serious, despite lower operating losses in the OEM framework. Where did all that money go?