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Wednesday, April 29, 2020 7:10:38 PM
BIEL got OTC clearance for foot and knee Feb 2017, its head-start diminished, but still had a good shot at the pain market.
At that precise time, 2 Directors resigned because the former CEO had defiantly refused by-pass surgery advice and refused to help prepare a succession plan. The SEC was chasing.
A few long-term shareholders noticed substantial and advancing deterioration. The former CEO's plea for help to retire was March 2019 and he rejected a plan shortly after. In between came the irrational "No" to Scholl's, CVS and KT Tape. Don't judge, just assess.
The current CEO, along with everyone else, had no warning of what was coming last October. The end was in sight, but not specific timing. Who does?
The current 'CEO' inherited a mess, without question. The choice is hers. Fix a few things, the BoD and corrupt share structure to keep the dogs and the SEC at bay and make deals or stay in the BIEL toilet she was left with. Can she do that? Will she do that? Only time will tell. For once in over a decade KK, could BIEL be first at something, instead of into the usual toilet every morning? If you don't know how, ask for help!
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