BIEL consists of country bumpkins housed in an incubator.
These bumpkins have no experience negotiating or marketing. Andy's failures with retailers and Dr. Scholl's are well documented. The minor-league baseball player was brought on to get the product into retail outlets and he failed. The clinical studies by the Koneru Brothers and Dr. Eppley were inept. Luckily, a couple of independent researchers chose to study the ActiPatch and publish the clinical results -- otherwise BIEL wouldn't have FDA full-body clearance.
KT Tape and Donjoy didn't spend much money developing their ActiPatch products and they aren't spending much money marketing their ActiPatch products. If the ActiPatch doesn't sell, they don't lose much.
The pandemic was the PERFECT opportunity to sell pain relief products online but BIEL chose to sit back in their easy chairs and let others do all the work. Result: poor (and declining) revenues, increased debt, share price .0006
The Synergy deal not only isn't finalized -- it won't be finalized until they get regulatory clearancein what, six countries? And if/when it gets finalized, it's not a guaranteed sale of hundreds of thousands of units -- The number sold depends on whether Synergy can convince doctors to prescribe RecoveryRx, something that no other distributor has been able to do in the 12 years RecoveryRx has been marketed.
Maybe Kelly will sell out to an experienced biotech that knows how to market devices. That's the only way the ActiPatch succeeds. Kelly must be thinking EVERY DAY about cashing out. Life is too short to waste time fumblin' bumblin' and stumblin' like this.
