Bioelectronics Corp (BIEL)

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News from Bioelectronics

Release #:812-180581-rl-1163847:

Good news from BIEL: In regards to sales, we have $531,000 in sales to Europe that are deferred revenue. In Europe we have also now added Russia and the Ukraine with large pharmaceutical companies of which we have signed deals in place. These deals in Russia and the Ukraine also come with over 200 sales reps who will be promoting Actipatch all over both of those countries. We have maintained our wholesale pricing with both entities and are in a strong position to market to large populations. In the UK sales have continued to grow. We also are growing business at a better margin not having to deal with wholesalers and distributors. The price point in the UK is more favorable in sales dollars returning to us at a more favorable rate. In June we are educating over 300 sales rep in southeast Asia with Mundipharma. These reps will launch ActiPatch into countries to begin with and then the remaining three countries will be following on. The launch in Australia and New Zealand has gone successfully and we have seen following orders to that launch as well. In the US we have confirmed meetings with the largest retailer in the US for the third week of June. This meeting has the potential to be transformational for Actipatch. We are also in talks with a major foot insert distributor who has an interest in active versus passive technology. They would take over the plantar fasciitis indication and sell into US stores.

Paul Knopick

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