Bioelectronics Corp (BIEL)

[challengemyknowledge]

I was once a firm believer like many of you

I thought that owning BIEL shares, was as closest to a "sure thing as I could have ever hoped to get. I bought in around June of 2009, for some of the following reasons:

PEMF has been proven safe/effective for MANY years. BIEL has the patent making them THE ONLY COMPANY IN THE ENTIRE WORLD, who can provide PEMF therapy, portably. Testimonials prove the product works great. They has been selected as a runner up in the medical device category of the 2009 Wall Street Journal Innovation Awards. ActiPatch was proven to be 50% more effective than drugs that contain acetaminophen, but WON'T KILL YOUR LIVER.

I guess that I was once one of the biggest, so called, "pumpers" of all, with sell prices of 60 cents/2 dollars. I bought 1 million shares of BIEL at $0.0117, back in June of 2009. I once had over a $110,000 profit on BIEL, but did I sell at 12 cents? No, because I thought shares were going higher. Did I sell at 11 cents? No, because I thought shares were going higher. Did I sell at 10 cents? No, because I thought shares were going higher. Did I sell at 9 cents? No, because I thought shares were going higher. Did I sell at 8 cents? No, because I thought shares were going higher. Did I sell at 7 cents? No, because I thought shares were going higher. Did I sell at 6 cents? No, because I thought shares were going higher. Did I sell at 5 cents? No, because I thought shares were going higher. Did I sell at 4 cents? No, because I thought shares were going higher. Well, after hearing that "Good things are coming" for well over a year, and having none of it ever come to fruition, I decided to sell between 2-3 cents.

I am still dumbfounded about how this turned out. If any of those facts about the product was significant at all, why have shares come down so far, and why have they stayed down?

The press release that caused shares to rise over 100%, was expectations made by BIEL management. But I've heard it all before.

Start with this: They said, "probable FDA clearances coming over the next few months". But that was way back in 2009. So, now that they said they are expecting approval in a couple of "weeks", shares rally over 100%? The move was absolutely unwarranted, unjustifiable, making no logical sense AT ALL.

The Company
has established distribution agreements with distributors in Korea, Singapore, Malaysia, Canada, Columbia, Italy,
Scandinavia, Saudi Arabia, Japan, Benelux, the Balkans, Austria, Australia, China and South America.

Shares will get a lift upon any approval, there's no doubt about that. But unless they can sell more product, they'll end up right back down to the $0.0055 range. Because since they sold around $370k in the firs qtr. of 2011, abroad/U.S online sales, any more U.S. sales will be insignificant.

Plus this:

Jan. 20, 2009: We are very encouraged by our international sales growth, not only within Canada, but also within the European Union.
Jul. 24, 2009: With a growing international distribution base, probable FDA clearances coming over the next few months and very strong margins, we expect to be very profitable over the coming quarters as our business plan further develops and as our cost of capital continues to fall.
Aug. 13, 2009: Our management team and board of directors are pleased that a DRTV firm of SMW's quality has agreed to be our partner. We are expecting this initiative to be a major revenue generator for the Company. We look forward to making this initiative a success for BioElectronics and its shareholders.
Dec. 1, 2009: BioElectronics believes these campaigns, in addition to other international marketing programs currently being negotiated, which include Japan and China, will generate substantial revenue growth for the Company during 2010.
Dec. 14, 2009: We believe we are very well positioned to manage the meaningful revenue growth we expect during 2010 and beyond.

Therefore, can you really take what BIEL management says seriously? Look at their financials, and notice the "meaningful revenue growth we expect during 2010 and beyond".

http://bielcorp.com/wp-content/uploads/2010/05/BIEL-Financial-Statements-For-Quarter-Ended-March-31-2011.pdf