A little over a month ago (30Jun17), I posted about an email that I sent to Investor Relations (Paul Knopick) where he anticipated "shortly" that there would be some kind of CEO Letter to Investors.
Well, given that I'm one of those "impatient millennials," I wrote back last night basically asking What gives? I'm still waiting for this Letter and we're being kept in the dark...
Here's the whole transcript of the communication between Paul and I over the last hour or so:
Good Evening Paul,
Per our previous conversation, I have not seen anything on the company website pertaining to what I originally inquired about.
Am I genuinely missing something? Is the company even communicating with you its intentions? Or are they paying you to merely tell me what I want to hear in the hopes that I'll go away?
I only want answers to some fairly simple questions. That isn't too much to ask, no?
Thank you for your time and I look forward to having a legitimate dialogue with you regarding BioElectronics Corporation.
His response (His answers to my initial questions are in the double parentheses):
Good Morning,
As a stockholder in this company, I have become frustrated with the manner this company is being run. For years we (the stockholders) were told to wait until we got FDA approval. When we got FDA approval, an already diluted share became even more diluted.
Aside from the fact that this is a phenomenal product, there is little reason to believe this company will succeed. ((The key is it is a great product. I have received hundreds of calls over the years and only one was negative. And he was using the product in the wrong way. BIEL is a small company. There are two ways, in my opinion, to succeed. Find funding to significantly increase marketing and/or find a major partner. The company’s efforts are focused on this. If either or both happen I think the long patience of the shareholders will be rewarded.))
What is the company's plan going forward? What is the company planning to do about the diluted pps? Does the company plan on doing a reverse split anytime soon? Why should I remain optimistic about the operation of this company? Why is the last time (according to the website, anyway) Mr. Staelin directly communicated to shareholders 22Oct2015? To me, there is little compelling evidence to suggest that even the leadership is confident in its product. ((The Company has promised a CEO letter to bring shareholders up-to-date. I have pushed for that. Mr. Staelin is no longer with the company. They have said many times they have no plans for a reverse.))
I appreciate your time and look forward to hearing back.
V/R
Charles Kuhns
((Let me know if you have other questions.))
Paul Knopick
