$BIEI Premier Biomedical Retires Convertible Debt
Source: InvestorsHub NewsWire
El Paso, Texas - (Uptick Newswire - March 2, 2017) - Premier Biomedical, Inc. (OTCQB: "BIEI") announced today that the principal amounts on their outstanding convertible debts have been retired. The company acknowledged that, although it still needs capital to keep the business going, they will be more judicious in any future financing.
The company has in the past had as many as five lenders at once converting debt, as they struggled to finance their aggressive research programs on PTSD and cancer. The company has since shelved their promising cancer research program and PTSD research until they can acquire a suitable development partner. The company reports they have been in discussion with a number of potential partners with whom their promising patent-pending antibody drug for breast cancer can be developed.
“It is because of the enormous costs of our research that we decided to pivot our attention, temporarily, towards manufacturing and selling pain relief products to generate a revenue stream. We currently are selling what we consider to be the world’s-best 96-hour pain patch and hemp oil roll-on applicator. We plan on introducing four more pain relief products this calendar year,” said William A. Hartman, President and CEO of Premier Biomedical. The company sells their pain relief products through their website, www.painreliefmeds.com, as well as through direct distributors.
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