Bioelectronics Corp (BIEL)

[GetSeriousOK]

As to "where:" Staelin said in February that

We have engaged both local counsel and counsel in Singapore, where any arbitration action would need to take place.

IMO they will never proceed past the "hype Mundipharma in a newsletter" phase -- Staelin just needed a high-dollar item in his newsletter to cover up the fact that there were no big orders in 2024 (yet). $14 million is shiny.

The contract wording would be fun to examine but we'll never see it. I can't believe that Mundipharma would contractually agree to buying $14 million of a product they've never sold before, with wording that if they failed to buy $14 million worth they'd be legally obligated to pay the remainder, or even a penalty. It just looked like another distribution agreement when BIEL released the PR in 2018:

https://www.globenewswire.com/en/news-release/2018/11/15/1652277/0/en/BioElectronics-Signs-a-Five-Country-Additional-Distribution-Agreement-with-Mundipharma-Pty-Limited-South-East-Asia.html

All it says is that Mundipharma acquired distribution rights. Nothing to indicate that MundiPharma legally agreed to pay $14 million. That would have been BIG news in 2018 if true. Suspicious that BIEL didn't pump the $14 million back then. "Intent" goes a long way in a court of law.

It's just arbitration, not a lawsuit. Maybe BIEL will pursue this. At least it's SOMETHING to talk about.