Both companies are horrible, BIEL adds a billion shares each year or two. That is why it is sub-penny.
ENDV also is heading sub-penny. Ton of convertible debt and no real strategy.
The last PR was a joke. They touted $40k in revenue when they projected their deal with Magniant would generate $450k in revenue.
What this tells me is Magniant is useless and all of their sales came from the few sales people they hired and used in Q4.
The Q4 of 2018 revenue was $42k so there is no growth quarter over quarter which is vital in the early stages. Competent management teams with real products and real strategy should be generating high double digit growth each quarter.
The projections from the Magniant deal require Magniant to sell 4,182 units to keep exclusivity and the revenue number is $1.15m for the quarter. That means they project to sell 1,394 units per month (in April) or $383k in revenue. The obviously are not meeting those numbers.
So we now know the Magniant deal like the Plagens deal is all smoke and mirrors to keep this thing from going sub-penny.
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