Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Bottom line for me is that the definitive and authoritative source for what is really going on with a US patent rests with the USPTO.
So is the buyout pump back on? Is that's the reason for this "speculative nonsense" about the patents being Active?
Fascinating.
The USPTO is "a totally unreliable source?"
The patents did not LAPSE, they EXPIRED, due to nonpayment of maintenance fees.
But it seems that the monkeys in the zoo want to fling feces and deny the evidence on the USPTO website. That's a choice.
Oh? What did I say that is false? Be specific.
The link I provided is direct from the USPTO and it shows clearly that the status of patent 7.551.957 (the first and therefore principal patent) is "Patent Expired Due to NonPayment of Maintenance Fees Under 37 CFR 1.362 07/26/2021." Are you trying to say that this patent did not expire due to non-payment of maintenance fees? If that's what you're trying to say, just say it -- and then offer your proof.
Are you trying to say that your "Unified Patents" site is proof that the patent is active? It doesn't show the current status of the patent and it's not an official US Government site. "Unified Patents" is an LLC that offers subscriptions. Here is a definition of "Unified Patents:"
https://www.unifiedpatents.com/faq
Do you know the rules for reinstating a US patent that expired due to non-payment of maintenance fees? The USPTO specifically defines that rule. For the first two years -- in this case -- until 07/26/2023 -- the patent owner can reinstate simply by paying the delinquent fees. After two years, the patent owner must prove to the USPTO that the failure to pay the maintenance fees was "unavoidable" (the USPTO's word, not mine).
The NOPAIN Act is a year away from starting and even longer before it would generate meaningful revenues. Do you have a more contemporary pump?
And when/where is BIEL going to get data to satisfy THIS requirement:
You don't have to worry about Bioelectronics Corp. getting bought out. There's currently nothing to buy, other than a brand name.
https://patentcenter.uspto.gov/applications/10384101
We know that Whelan reads these MB's and FB religiously. I'm hoping that she gets tired of people complaining about the expired patents, puts her phone down for a few hours, and gets the patents reinstated. That should be her #1 priority.
Unfortunately, it seems that her #1 priority is searching for her name on social media.
what "Deals [were] being made" when you posted this in December 2022?
TIA
I never "claimed in a string to have knowledge of the company that wasn't public."
I'm only going to do this once and then you're back on Ignore. I know it won't change your mind because you don't read with comprehension, but just in case anyone else believes your baseless libel:
in post 323496, a poster said to me "You think you know Biel. In reality, you don't have a clue." He then told me to "look at the entire operation." READ IT.
I replied in post 323499 (READ IT):
I have never lied on this MB or on any MB.
It's been called to my attention that one of the more ignorant posters (who knows I have him on Ignore) has been calling me a liar behind my back.
I don't lie on message boards. I don't see the point, since I don't believe that MB discussions affect the PPS. And I don't care whether anyone buys, sells, or holds any stock, especially BIEL. I bring up both positives and negatives as I find them -- as everyone should. expressing ONLY a positive view or negative view is disingenuous, IMO.
I'm trying to talk about the stock and the company ONLY -- topics like patents, the Ilfeld studies, the requirements of the NOPAIN Act, pinksheet trading, and the like. I wish everyone else would try to do the same.
I know I'm kidding myself and I know that those who read this MB with comprehension know I'm not a liar. But calling me a liar is itself a lie. Think about that.
And when pumped to raise the SP, that fact taints the pumpers' views as "Pumping for $$$$."
And it is extra slimy when someone Pumps as a Board Moderator.
Agreed?
It's an academic question, IMO, since bashing and pumping on this MB don't move the PPS. I sincerely believe that the PPS would be the same if this MB did not exist because the people reading and using this MB are not going to buy or sell based on what they read here.
That only happens on Twitter, IMO. Newbies don't know that IH or the other old-style MB's even exist.
No, I do not follow this board very closely. I don't think anyone should.
Regardless, "trading a stock as frequently as I find profitable" is not the same as "flipping" by my definition. I define "flipping" as daytrading -- buying large volumes and selling for just a tick or two in the PPS. All flipping is trading, but not all trading is flipping. And my point is: flipping is NOT POSSIBLE with BIEL. The MM's are the only ones who can "flip" BIEL.
"Trading a stock as frequently as I find profitable" is an intelligent strategy for pinksheet stocks. Don't we buy stocks with the goal of selling them for a profit? And isn't that called "trading?" How can one be critical of an investor who trades BIEL for a profit? How is it more admirable or prudent to buy BIEL and hold the stock while it loses value?
An UNintelligent strategy in pinksheet stocks, IMO: Buy and Hold through an opportunity to profit. That might work with Funds and bluechip stocks, but not in the pinksheets. Look at the chart of basically EVERY pinksheet stock, especially biotech: they spike on news and quickly fall back to earth. Holding through that spike seems ignorant if not foolish. It's quite rare for a pinksheet stock to increase in price and hold its value. These companies have fallen into the pinksheets for a reason.
Here's an adage that bears repeating:
The MM's are the only entities "flipping" BIEL. penny stock flippers do NOT play with stocks that average $3000 gross per day.
The MM's get all the shares under .0003 and they award themselves all the sales at .00035 and above. They're not getting and holding much stock under .0003 so sometimes their sales appear on REGSHO for a day. That's par for the course in a pinkie sub-penny with minimal buying interest.
There were probably some flippers in this stock back in 2021 and they would return if there was any volume, but this stock is currently a ghost town to flippers.
And nobody is shorting BIEL. Penny stock shorters COVER at .0003, not start a new short position (or hold one) at .0003.
There's a common misconception that everyone posting on every stock message board is trying to manipulate the PPS. That's simply not true.
Do you have anything to say about the expired patents? I am saying that I think Whelan can reinstate them. You apparently disagree. Why do you think she cannot reinstate the patents?
You put a lot of time and effort into quoting my posts, but did you READ what you quoted?
The post you're quoting didn't insult or bully other posters. It talked about the stock and the company -- specifically, the expired patents -- not about other posters.
And yours? What is this (or your previous) post saying about the stock or the company? All I see are attempts to insult me with ad hominem arguments. You are proving my point.
If you say so.
Of course, your post is a logical fallacy called "Ad Hominem," but that's OK -- I've grown to expect it.
https://www.txst.edu/philosophy/resources/fallacy-definitions/Ad-Hominem.html#:~:text=(Attacking%20the%20person)%3A%20This,in%20a%20group%20or%20institution.
BTW, if you want to "invest in BIEL," you need to give the company money. Buying BIEL stock is not investing in BIEL. It's not investing, period -- it's gambling.
So get busy investing in BIEL! Staelin will welcome the assistance.
I think Whelan simply didn't know. Now that she knows, I think she will reinstate the patents. It's probably just a slow process.
It might not be easy to do now that the two-year window has closed, but it wouldn't cost much money, and I can't see the USPTO putting up much of a fight because the USPTO has no reason to deny reinstatement.
Whelan has to say that non-payment was "unavoidable." Here's a sample sob story, spoken with a wavering voice: "My dad was the CEO but he died and we couldn't hire a new CEO so I became the CEO because nobody else would do it and I didn't know that patents needed maintenance payments and the high school kid who works in our mailroom was throwing out letters addressed to my dad and the email address you have for us is wrong so I never saw the USPTO letters and I would have never known the patents had expired if a kind and benevolent shareholder hadn't found the problem and posted it on a stock message board." sniff.
The patents were collateral on her IBEX loans but then the Export-Import bank stepped ahead in line. The patents are collateral on that EX-IM loan now, but the EX-IM bank will probably never call in that loan, just as the SEC will probably never demand payment of the fine. The EX-IM Bank and the SEC are government entities that have no incentive to destroy a little mom-and-pop operation like BIEL as long as BIEL keeps their nose clean.
If/when they do a R/S and print new shares, though, they better do a complete and thorough job of registering the new shares. The SEC's evil eye of Sauron will be upon them, watching from above.
The patents all terminated over two years ago.
here's the main patent -- the one to which all the other patents were subordinate:
https://patentcenter.uspto.gov/applications/10384101
Just updated: Ilfeld's ActiPatch opioid study finished early.
https://clinicaltrials.gov/study/NCT05399355
120 out of 200 enrolled. Final completion now estimated for March, not June.
Also just updated: Ilfeld's SofPulse study is pushed back -- instead of finishing in Dec 2023 it's now estimated for June 2024, and the Study Final completion date has been pushed WAY back to Dec 2024.
https://clinicaltrials.gov/study/NCT05796583
What does it mean? Anyone's guess, could be good, could be bad. The ActiPatch study PRIMARY was initially estimated to finish in Dec 2023 and then pushed back to March 2024, but it actually completed in Oct 2023. The amputee ghost pain study also finished early, last August -- maybe the results of THAT study, when disclosed, will offer a clue about how well the ActiPatch opioid study went.
LOL I've been trying to have a meaningful discussion for well over a year!
"Cynical and negative responses" might be acceptable, but I expect a cynic to defend their argument, not just mindlessly bash and abuse like Basher #1..... and Basher #2 is privately suing a couple of the Directors for a bad deal he made years ago, so if he wants to talk about his bad deal or his lawsuit, fine, but he's not suing this company, so when he trashes GTHP he's going to have to defend his argument.
The stock has stabilized at 15 cents since the last R/S. It's one of the few times I've ever seen a pennystock stabilize after a R/S (which of course it did NOT do the previous R/S). Cartwright worked magic, IMO, to eliminate the toxic financing -- I've never seen a pennystock get back out of death spiral financing before.
As for the "core business" -- the fluff PR's about Turkey and Africa are long gone, thankfully. The core business is, and always has been, getting FDA clearance, followed by commercialization in the USA or sale of the tech. Commercialization in China? I'll believe that when I see it.
I don't mind that the PPS is stuck at 15 cents. I've been patiently buying since August at or under 15 cents and I'll continue patiently buying under 15 cents but it's not easy getting anyone to sell any significant amount, except for that fluke in June when the toxic hedgie getting investigated by the SEC decided to liquidate. This stock is WAY under the radar. The SMI press releases didn't fool anyone -- I think China Hype worked back in 1999, but China is not sexy anymore.
The clinicals probably won't finish by 03/31/2024 but clinicals rarely finish on time. They increased the clinicals to four locations, which impresses me. I check this site regularly for an update:
https://clinicaltrials.gov/study/NCT04915495?tab=results
Do I believe that SMI will give the company $2 million? No I do not, because I don't think SMI has anywhere near that kind of money. Will they pay the company SOMETHING? That would be nice, because Guided is going to need money in 2024, but more importantly, the Chinese clinicals look legit, so that will fatten the portfolio when Guided submits the updated PMA to the US FDA. And if the NMPA clears the device, SOMEBODY in China will sell it.
We all know that every OTC pennystock play is a gamble. I like the odds here but there are no guarantees. I've done well with pennystock FDA plays where the company got rejected more than once but kept trying so I'm riding this one until the payout or the end.
Far more than 25 billion O/S? really? Name one. Thanks.
Fair enough.
The thing about pinkie biotech is: the company could release a blockbuster PR at any time and surprise everyone.
Another thing about pinkies in general is: the company could borrow $20 million and book a $20,000 profit and that would still be called "a profitable quarter."
The thing about Whelan, IMO, is: she has no ambition and no vision, making either of those unlikely. But I could be wrong.
My opinion is that the power of the device is not the reason for poor revenues. If you read the thread you'll see that I specifically say that. You could probably "get at [my] point" if you read the thread.
It follows that I don't believe an increase in power by itself will solve the problem of poor revenues. Would it increase revenues? Possibly, even probably, but how much?
I think the problem of poor revenues is mismanagement, a faulty business model, and a price point that is too high. I've also said THAT several times. Increasing the power of the device won't fix THOSE flaws, IMO.
But that's all just my opinion. A lot has to happen before I'll know if my opinion is correct. Until then, it's just an opinion.
As your quote shows, I specifically used the word "current" to describe the device and revenues. A discussion about current revenues and the current device is not "looking in the rear view mirror."
"By definition," the new higher powered device does NOT "insert a new variable into the existing equation" because the new higher powered device is not an existing product available for purchase. What you call "the old device" is truthfully the CURRENT device, not "old," and "prospective revenues going forward with a new set of variables associated with the higher powered device" is a different topic "by definition" of the words "prospective" and "going forward."
I asked a specific question. "Faulty analysis" would be to ignore the question and/or divert attention away from the question, which is:
Do you believe that the reason for the current low revenues is because the device is underpowered?
Total $$$$ spent was only $10,000 on Friday and only $15,000 for the entire week. That's a lack of "Buying Interest." I'm not saying that's a problem in itself when there's no news -- I'm saying that's an explanation of why the PPS couldn't "break out into the 4's."
What I saw from Dr. Staelin's description of the KT situation is: KT Tape will offer the 720-hour version for sale everywhere, including the USA and on their website, but they aren't going to spend much on advertising or promotion. Looks like status quo to me because I don't think KT Tape ever "actively promoted" their ActiPatch device. In other words, there's a huge difference between offering a product for sale and "actively promoting" that product.
As for Staelin "not laying all of BIEL's cards on the table...." if you're implying that BIEL has something big Staelin isn't disclosing...... a distribution deal, a breakthrough product, a new partner, or the mythical buyout.... I say that's simply a fallacy of omission. Silence does not logically mean that something is happening. Remember Synergy.
Finally, in answering the question "Does anyone believe that the reason for the current low revenues is because the device is underpowered?" you said "the fact that ActiPatch/RecoveryRx can take hours to provide pain relief is definitely reducing sales."
1. Is this a damning flaw of the product?
2. Wouldn't a device with 50% more power still take hours to provide pain relief?
I think the MAIN reason is: no buying interest.
$10,000 traded is a huge day for this stock. $10,000 is not what anyone would call "buying interest."
It's not going to "break out into the 4's" without buying interest. And what will create buying interest? That PR was the only PR in the past year-and-a-half and it wasn't exactly good news.
The next "catalyst" is going to be the annual report on March 31st and Staelin already revealed that revenues for 2023 were bad. An annual report would also reveal whether Nalepka is still the VP of Sales but I think we already know the answer to that, and either way it wouldn't be "good news."
Submission of a new 510(k) would be "good news" but I suspect the resulting selling pressure would be fierce. the PPS would probably "break out into the 4's" and maybe even get back to .0006, but it wouldn't last, IMO, because I don't think anyone believes that the reason for BIEL's poor revenues is because the current device is underpowered.
Am I wrong about that? Does anyone believe that the reason for the current low revenues is because the device is underpowered?
that's great news for the buyers, isn't it?
I guess we'll see. I hope BIEL moves fast, whatever they're doing.
FDA clearance might be simpler, but a 510(k) application still requires proof of substantial equivalence in both safety and efficacy. Even if efficacy is "assumed" somehow, the FDA would be concerned that an increase in "power density" would increase the risk of skin burns, IMO. Therefore, I think the FDA will require safety data at a minimum, if not efficacy data. That is the main topic of this thread, I believe: clinical data, or the lack thereof.
edit: your edit about the eye-sized antenna for blepharoplasty suggests that they might have old safety data from that 510(k) submission. Interesting.
It sounds like the old patent would still apply? That's good news, assuming they can still reinstate that patent. But I thought the reason offered for letting those patents terminate was that there was a new patent application for the new higher-powered device. If a new patent application is in the works, what else changed, I wonder.
Not that I think there is a new patent application. I don't. I think the company simply didn't realize they needed to pay maintenance fees on the patents. Just as they didn't realize they needed to maintain the CE Mark or their Corporation Status in Maryland.
To be clear, I am not making you work to do anything.
I'm not quoting posts from FB that contain people's names. Which this one did. Do you want initials? Then you could ask that FB user what transpired? Fine, the initials are PH
And it all happened in the last 24 hours.
Looks like Whelan removed her recent abusive post. Smart move, Whelan.
She left a post with a link to LinkedIn but at least two posts have now been deleted in that thread.
I apologize for interrupting the BIEL thought consciousness.
Interesting though... I post about it here, and within minutes it's gone. I think this CEO spends too much time reading this MB. Just my opinion, of course.
I'm just expressing my opinion. If you don't like my opinion, you should express a differing opinion, not attack me. I'm done with the pissing contests here.
If it's been removed, then I apologize for bringing it up. If it hasn't been removed, then read it and decide for yourself.
I guess you'll have to read it and decide for yourself, assuming she hasn't deleted it already. I see that at least one post in that thread has been deleted.
My sentiment, though, is simple: if someone tells a CEO they are unhappy, a CEO needs to apologize and at least PRETEND to work towards a solution to placate the shareholder. Or, if the CEO feels the need to be rude, do it in a PM, not in public.
I understand that Andy was aggressive, but I don't think he was a good CEO role model.
Staelin would make a fine CEO.
Whelan popped onto the FB page to publicly chastise one of the company's most stalwart supporters.
Whelan acts like someone's mom, not like the CEO of a public company, IMO. And not one of the cool moms.
Personally, I think that when an employee or subordinate or stockholder or child expresses anger or frustration, a successful manager/leader/CEO/mom acts proactively, not aggressively.
Bottom line, Whelan: if you feel that you MUST be rude to someone, do it with a PM, not publicly on the FB page.
At the time the patents expired, BIEL was releasing PR's about their record sales. "Insufficient funds" seems like a weak excuse.
But the USPTO probably doesn't really care. They have no motive for denying the reinstatement, IMO.
What I don't understand is: why doesn't BIEL take care of this?
https://patentcenter.uspto.gov/applications/10384101
Regarding this accusation of "attacking people personally:"
You said to me in post 15344:
You seem to be in constant angst about this stock.
We hate seeing you suffer so.
What, do you suppose, might you be able to do to end that angst?
How will the NOPAIN Act prevent you from getting pain pills from your doctor?
To clarify, the NOPAIN Act applies to hospital outpatient services and ambulatory surgical center services only. It applies to Medicare payments only. And it doesn't stop doctors from prescribing pain pills.
As for Pfizer and Merck.... they can strike a deal with the Chinese manufacturer, or with any manufacturer anywhere, and produce the device without banging on BIEL's door. BIEL let the patents expire and then let the two-year reinstatement window close. I don't know for certain that BIEL can't reinstate those patents but it would have been easy during that two-year window and now it will be difficult.
Imagine Merck or Pfizer putting THEIR name on the device. BIEL wouldn't be able to compete. So let's hope Merck and Pfizer don't get interested.
A Q submission is just a request for information.
Apparently, the FDA told them they need to submit a new 510(k).
A 510(k), whether it's submitted to the FDA or a 3PRO, requires evidence that the device is substantially equivalent to an existing device.
The existing device can be the ActiPatch or it can be the device they used for previous FDA clearances. Either way, BIEL will need clinical data to prove substantial equivalence.
I wonder what Staelin means by "expedited 510(k)."
If he means "Special 510(k) or Abbreviated 510(k)," I don't think that's going to work. Here's a description of the three types of 510(k) -- looks like a "traditional" 510(k) will be necessary.
https://www.fda.gov/medical-devices/premarket-notification-510k/510k-submission-programs
He must mean "3rd Party Review" (3PRO). Here's a list of devices eligible for 3PRO -- I didn't look very hard to see if the ActiPatch fits in this list but let's assume it's in one of these categories.
https://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfThirdParty/current.cfm
The problem is that for a 3PRO submission, the new device still needs clinical and safety data. If the higher-power version existed when Ilfeld started, he probably would have used it, but he can't switch now. So..... BIEL needs some test data. Staelin says "near future" so he must have a 2024 plan for testing....... Right?
Actually a company has to wait 90 days after filing the Form 15-12G before the ticker is deregistered. They can't speed that up.
I don't think the ticker would go to Expert Market anyway until OTCmarkets.com realized they didn't file an annual report. That would be March 31st or right afterwards, coincidentally also 90 days.
I'm sorry you're suffering so much.
What could you do to suffer less? Any ideas?
assume you found it: MYMXD
Synergy was supposed to have $10 million to pay BIEL over 18 months.
If Astonixlife has $10 million to pay BIEL over 18 months, then yes, they can carry the Synergy ball.