Bioelectronics Corp (BIEL)

[gimmee greenbacks]

BioElectronics intends to pursue legal action against Mundipharma

…”In September of 2023 the Company terminated a contract with Mundipharma Southeast Asia. In that contract, Mundipharma guaranteed to purchase a volume of product costing about $14 million over the 5-year period starting in late 2018. In return, we agreed to grant them exclusive distributorship in five SEA countries. However, these purchases never approached this required amount, nor did Mundipharma meet their obligation to register the product in four of the five territories. Consequently, at the end of the contract the Company began negotiations with Mundipharma to reach an equitable solution concerning its obligations to purchase and register our products. However, even after correspondence with Mundipharma’s C-suite executives, no such agreement was reached, leaving us with the next option which is to enter into binding arbitration to settle this dispute. Consequently, we sought outside support to move to this next level. The Company is now in the final stages of obtaining the necessary litigation financing with a firm that has already independently evaluated our case against Mundipharma for their breach of contract. Although no final decision has been reached, their expert legal advisor has indicated that we have a strong case. Assuming we secure the litigation financing, we intend to pursue our action against Mundipharma“

https://www.tipranks.com/news/the-fly/bioelectronics-intends-to-pursue-legal-action-against-mundipharma

THIS iS ILL ADISED.

Let it GO Kelly. Let it go Rick.

This action will send a chilling effect across potential and current Distributers.

In WHAT court will you try this in?

How are you going to pay for it?

Have you no experience with lawyers?
Of course they will tell you you have a case.

Do you REALLY think your two bit attorney is going to out litigate a multibillion dollar behemoth like Mundipharma?

This is INSANITY

Stick to making and selling the device.

AIMO



BIEL