Bioelectronics Corp (BIEL)

[Det_Robert_Thorne]

So that explains 34.9% decline in UK sales?

Went to a distributor model as stated so the seemed decrease is actually caused by the distributor share of the pie.

Does the switch to a distribution model explain the 32.2% gross margin* in 4Q/16 and the 34.9% decline in UK revenues from 2015?

It should be noted that "Other Foreign" revenues were up 35.1%.

See page 14 of the filing:

http://www.otcmarkets.com/financialReportViewer?symbol=BIEL&id=168651


*I've calculated 4Q/16 WW revenues of $399K and COGS of $270.8K, so Gross Profit was $128.6K for a GM of 32.2%.