Bioelectronics Corp (BIEL)

[kidnova]

Well, aside from my personal opinion that the pet avenue is a dead end, Mary only has an exclusive distributor agreement for specific countries OUTSIDE of the U.S. And, according to BIEL's filing that agreement expired in February of 2012. Mary isn't the problem here. If you honestly believe that the pet patch is a viable product then the blame falls squarely on the shoulders of one Andrew Whelan. He is free to negotiate distribution agreements with any of the various pet product distributors in the U.S.

In addition to the related party transactions disclosed in Note 6, BioElectronics signed a distribution agreement on February 9, 2009 with eMarkets Group, LLC (eMarkets) a company owned and controlled by a member of the Board of Directors and sister of the company's President. The agreement provides for eMarkets to be the exclusive distributor of the veterinary products of the Company to customers in certain countries outside of the United States for a period of three years. The distribution agreement lists the prices to be paid for the company's products by eMarkets and provides for the company to provide training and customer support at its own cost to support the distributor’s sales function.