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I'll dance when I see the stock price take off.
I've been hearing that for a long time and nothing has ever happened. I'll believe it when I see it.
I've been reading negative comments about BIEL for a long time. Nothing good ever happened afterward
Does this company exist anymore?
The voice of reason. Thanks for that post Simpsonly. Quite refreshing.
If you don't have a lot of shares an R/S can wipe you out. Its happened to me many times.
My Etrade shows .0047
Wow. Not at all what I was expecting after FDA approval. Seem I'll have to wait this one out a bit longer.
if you own a small number of shares a reverse split can wipe you out. so it's not such a good thing for everyone.
as long as they don't r/s I might be one of them
Great news. Not gonna get too excited though. Not with my luck. I will remain cautiously optimistic.
Reverse splits work out pretty good for those that have enough shares to survive it. For the smaller investors, not so much.
What are you thoughts on after the split? I get the impression this company has crazy potential.
So how high is this thing gonna get before the R/S
One day i'm gonna find a stock that doesn't reverse split on me. shortly after the world will end.
BioElectronics Corporation Refutes SEC Order for Administrative Proceedings
This is from my Etrade news feed.....
FREDERICK, Md., Feb. 8, 2016 /PRNewswire/ -- BioElectronics Corporation (OTC Pink: BIEL), the maker of advanced consumer medical devices, announced today that it is responding to a notice of an order for administrative proceedings from the Securities and Exchange Commission posted on the agency website.
"Although neither the Company nor any of the respondents have been formerly served, we have reviewed the allegations on the website. We want our shareholders to know that we consider the SEC position to be without merit or foundation in fact," said Richard Staelin, Chairman of the Board of BioElectronics Corporation and the Edward and Rose Donnell Professor of Business Administration at The Fuqua School of Business, Duke University.
Staelin explained that the SEC's document contains numerous factual errors and boils down to two issues, both of which have been disclosed previously to BioElectronics shareholders. These issues are:
Revenue recognition for two sales in 2009. Both sales were final and paid in full. Independent SEC-reporting consultants prepared the Company's financial statements and an independent, 225-person audit firm audited the transactions and determined they met the criteria required to recognize the revenue in the audit report and in the SEC filed 10k. The transactions are not a question of income recognition but an issue of when to record the sales.
Use of convertible shareowner loans to fund the Company. As fully disclosed in Company financials, BioElectronics has financed its development operations in part with convertible loans.
It appears that the SEC objects to the Whelans sale of some of its loans to different individuals and entities. All note sales were to qualified investors in accordance with SEC Rule 144 and held for longer than the SEC mandated holding period. The sales were fully disclosed and reviewed by legal and accounting advisors. The Whelans reinvested the proceeds of the loans in the Company, which represents only $1 for every $2.60 of their additional $5.6 million loans to the Company since 2010. It is not clear in the complaint if the SEC objects to shareholder sales or investing the proceeds in the Company.
Staelin also said that BioElectronics has filed with the SEC on two occasions and was stymied by administrative requirements that were not affordable by a small company. "We are confident that the Company and the respondents identified (including the head auditor) will be vindicated," Staelin concluded.
About BioElectronics Corporation
BioElectronics Corporation is a leader in biophysics and the maker of an industry leading family of disposable, drug-free, pain therapy devices: ActiPatch® Therapy, over-the-counter treatment for back pain and other musculoskeletal complaints; RecoveryRx® Devices for chronic and post-operative wound care; Allay® Menstrual Pain Therapy; and HealFast® Therapy for dogs, cats and horses. For more information, please visit www.bielcorp.com.
Contact:
Paul Knopick
940.262.3584
pknopick@eandecommunications.com
SOURCE BioElectronics Corporation
Let's hope. I've had these shares since 2004. Would be nice if they paid off one fine day.
Not sure. I haven't been able to find any recent news about the company. Could be someone just taking a chance on a penny stock hoping it comes to life one day.
Have to wait and see. I still have 6mil shares laying around, so i'm watching closely.
Did a Yahoo! search on RMDM. It seems to have been taken over by a company called Bryne Resources (BRYN).
https://finance.yahoo.com/q?s=RMDM
Not sure what's going on here. Guess we're going to find out.
I was shocked to see activity on this stock this morning. Did someone take over the company finally?
Depends on the size of the R-split. If it were to happen my entire investment could potentially be wiped out. So yes, you can lose depending on how many shares you hold.
Because some of us are not fortunate enough to own 1 million or more shares.
Please post the official BIEL announcement of a reverse split, or the link to where it is posted, if it even exists.
So hard to determine who is a reliable source of information on this forum.
Time to enable X-Files mode and Trust No One.
If that's true it will wipe me out. Par for the course for me.
Forgive my amateur question. Why does the ask price always skyrocket after close. For BIEL, etrade is telling me the ask is now at 0.2530.
Finally, a penny stock I don't regret buying.
Assuming the FDA signs off on the product, what do you see this stock being worth in three months time?