BioElectronics Issues Shareholder Letter Discussing New Initiatives
Thursday January 15, 9:00 am ET
FREDERICK, Md.--(BUSINESS WIRE)--BioElectronics Corp. (Pink Sheets:BIEL - News), the maker of ActiPatch™, the drug free anti-inflammatory patch, with an embedded battery operated microchip delivering continuous pulse therapy that revolutionizes the way people heal, today issued the following letter to shareholders from CEO, Andrew Whelan.
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Dear BioElectronics Shareholders:
The team at BioElectronics is planning some exciting changes and additions to our product lines and distribution channels designed to further enhance our revenues and add to shareholder value. The management team has spent a considerable amount of time over the past few months discussing with our distributors and their customers the features and functions they would like to see in our product line. We have also been quite active in researching other markets and applications for our pulsed electromagnetic therapy (PEMF) technology. I am very happy to tell you today that we have used the knowledge we acquired to modify several of our existing product lines and to design several completely new product offerings. Simply put - We have kept what worked well with our products, removed what has not and we have designed several new products that we believe are truly exciting.
We will soon be making formal announcements of this revised product strategy, but I wanted to take this opportunity to give you a little bit of information relative to what you can soon expect from BioElectronics. First of all, we have redesigned the core packaging of our patented PEMF technology. We will still offer the technology in a patch form, but we are now also offering the technology in a “loop” configuration, which delivers even more effective treatment. This alternative configuration allows us to easily implement the technology into a variety of form factors for a variety of applications. It's an exciting development that we believe will be highly successful.
One of the applications we are particularly excited about is the use of our technology to treat menstrual cramps, which affects nearly 50% of all women, 30% so severely that they must curtail normal activities. Early testing by several physicians has shown the product to be highly effective and there are already many women using the product. Thus far, patient reaction has been extremely positive. Look for us to make a formal announcement of entry into this market over the next few weeks when we will also discuss our upcoming marketing campaign for the product. We believe this will be a highly successful product and we are very excited about the upcoming launch.
Over the coming weeks also look for us to make announcements relative to product introductions and distribution arrangements for entry into the pet and large animal markets. We see many applications for our technology relative to these areas and believe these will be strong potential revenue streams for us moving through 2009. We also have several other new products to announce over the coming weeks, but we are going to save the details for the actual announcements later in the first quarter of this year.
We are very excited about these and upcoming developments and believe we now have the right product set to significantly grow our revenues and enhanced shareholder value. It is going to be an exciting year for our company and our shareholders. We look forward to sharing our excitement with you over the upcoming weeks as we provide full details of this revised and enhanced product and distribution strategy.
Thank you for your continued support,
Andrew Whelan
CEO
BioElectronics, Corp.
