I call BS.
"The Company is in discussions with two major organizations to rollout the RecoveryRx product in the US". # 1, ROLLOUT is not a word, so we know Whealan wrote this release without proofreading. #2-When did they start, why does it not say "we have been in negotiations ... for the past ... months".
"we are working to list the product with three major drug wholesalers". WORKING? Does that mean you left a VM or sent an email? They are "working" to get the product in Walmart, one meeting.
"ActiPatch® is already FDA-cleared for adjunctive treatment of pain from knee osteoarthritis (25 million) and plantar fasciitis (2 million annually)". 1st qtr sales of $140K. total.
"The ISO certification, along with the technical file review comprise the two parts required to meet current CE mark requirements". ANOTHER TYPO. I seriously doubt an ISO cert. is required for a CE mark. Certainly a GMP cert. is required, but doubtful an ISO cert. is. If it is, is this another reason why they do not have a CE mark? If so, is everything shipped to this point in violation of the protocol of the CE requirements and subject to recall?
"The Walmart meeting went really well. At this point,we have been asked by the buyer to show a couple things of interest". ANOTHER TYPO. I guarantee this is the first time in history a public company is reporting a SALES CALL to a major retailer. I would guess if the buyer sees this, they would no longer communicate with BIEL.
