Bioelectronics Corp (BIEL)

[Det_Robert_Thorne]

Financials out. 1Q/17 Rev $401.7K. $562.4K Loss

BIEL's first quarter 2017 revenues of $401.7K were down 24% from 1Q/16 and the company showed a net operating loss of $380.2K. The net loss was $562.4K.

Only $37.9K in cash on balance sheet at end of the quarter. They will have been borrowing more cash in 2Q/17.

OS stands at 17.34B, up nearly 2.4B shares from the end of 4Q/16. The conversion of shares from notes issued at least six months ago was higher than I expected.

Revenues were lower than I thought they would be, considering the sales through Amazon and the BIEL's Actipatch website.

BIEL borrowed another $507K from IBEX during the quarter, but spent most of it, as cash at the end of the quarter was only $38K.

Here's the report:

http://www.otcmarkets.com/financialReportViewer?symbol=BIEL&id=172204