Biel- a message from the CEO
Answering questions from the yh board
Question on patient protection in China
Our intellectual property protection is threefold:
1.Constant innovation;
2.Aggressive patent protection - Fish & Richardson, major law firm; and,
3.Disruptive market pricing.
China has 200 million people with western style incomes, which makes it a market that cannot be ignored. We need the first to market position.
The price of a press release is a function of the number of words and what distribution you request. We limit our distribution request in most incidences to Maryland and assume the release is picked up by the national wire services. Our cost per release is generally in the $200.
We have a new PR group, Crosby - Volmer to focus on product awareness and to handle the press releases.
1)Will the audited financials be released to the public soon (within the next few weeks) and do you think they will help resolve the issues with trading restrictions amongst several brokers?
We are trying to finish the audit this week. We will post the reports and work diligently to get the SEC filings done. I have not done a 10k or Q in years and I am out traveling the last 2 weeks of the month. Sherri and Kelly are getting up to speed.
2)Can you tell me when BIEL will be submitting the newest filings with the FDA. You had mentioned that a meeting was to occur with the FDA. Can you elaborate?
I am the culprit on the delay in filing the reclassification. I have been through three different consultant groups to optimize our strategy. We now have our plan defined and are making the final changes to the submission. We do not want to have the device incorrectly classified and open Pandora's Box. We are not using cookbook technology so we need to be very precise in our explanations and requests.
3)Will television ads begin in any markets this month?
Latin America, Canada and possibly Australia will run this month.
Regards,
Andy
Andrew J. Whelan
BioElectronics Corporation
4539 Metropolitan Court
Frederick MD 21704
(301) 874-4890 office
(301) 874-6935 fax
AI
