Bioelectronics Corp (BIEL)

[Rocker424]

I honestly think that at this rate there are two goals: (1) stop dilution, and (2) obtain FDA clearance. I have no faith in the future of Canada right now. We were supposed to have product in Canada retail stores by the "end of Summer." It's now mid-December and it doesn't appear to be very close to happening. This is just like management trying to go after the U.K. market or get a European distributor. They never pentrate far enough to make a difference and end up wasting a bunch of money in the process.

I would recommend that BIEL stop diluting, cut major spending on marketing and PR (little things are still okay), maybe cut a staff member, and simply play the waiting game for the FDA decision. This is the end game here. We're wasting money and eroding value of current shareholders by "trying" to get things done in Canada. Nothing so far but a new box design by the Greenwood Group. Extremely disappointing. Resources are better conserved right now - not spent.

The Dr. Oz stuff and other PR (emails, Facebook, etc.) are fine, as they are minimal cost to BIEL. The best outcome for shareholders right now is to obtain FDA clearance for the OTC products with the least amount of outstanding shares possible. With the rate mgmt appears to be diluting, the amount we are spending to get Canada up and running will not be worth the cost of issuing more equity (which is VERY expensive right now to all of us). Plus, I have minimal faith that mgmt will get the job done in Canada anytime soon. It's delay, after delay, after delay. The more delays, the more costly this becomes to us.

If clerance comes, then Andy will have more validity as a public company. The cost of equity would be lower, he could probably obtain debt, and maybe even a private placement or partnership with a larger firm to help finance inventory, marketing, and distribution. At this point, however, the cost has become way too high.

Unfortunately, I bet Andy won't listen to this logic, although I emailed it to him anyways. He feels like spending money to do something is worth it. I disagree. In this situation, he's proven he can't get things done in a timely manner and is doing more harm than good. The best bet for all of us is to stop dilution and simply wait for the FDA.