Bioelectronics Corp (BIEL)

[GetSeriousOK]

When they hired Nalepka they touted his experience with Retail and his ability to get a device on the shelves of big retail box stores.

Two years later Nalepka said there was no way a little company like Bioelectronics could break into the Retail box store game and it was foolish to try, so they were going to use OEM Partners instead.

When I think of OEM I think of car parts and appliance parts -- the market for the parts is already established and the OEM parts have the advantage of being cheaper than the manufacturer's brand-name part. BIEL resigned themselves to supplying an OEM part for a device that doesn't have a market yet.

The OEM Partners idea might work for BIEL someday, 10-15 years down the road, after the market for the device is established. But going the OEM Partner route before establishing a market is putting the cart in front of the horse.

Remember the huge sales when Dr. Oz mentioned PEMF? Remember the huge sales when they ran their scratch-'n'-sniff promotion in the UK? It never took much to get customers to TRY the thing. The problem is, BIEL management simply has no idea how to sell a disposable product. They decided instead to sit back and twiddle their thumbs while they wait for their OEM Partners to slowly create a market without putting much effort into it.

Go big or go home, I say. Create a spinoff, find some seed money, get some paid endorsements, and start promoting the thing. For crying out loud, SPONGETECH got their crappy little sponges into the big box stores! It can't be that hard!

But I guess that would require hiring some professional salespeople and a real CEO with vision and ambition who was willing to spend money to make money. BIEL has none of that. Instead they are content to cut expenses to bare bones, manufacture a smokescreen "profitable quarter" on just $414,000 in gross revenues, and ride their bicycles around the block.

While they watch the patents expire.