Replies to post #183978 on Bioelectronics Corp (BIEL)

[JustGoDeep]

Mundipharma Still Talking About Actipatch Positively

Would Seem Some False Information is Being Spread.

Certainly Biel Could NOT claim they are Training in 300 Plus Mundipharma Representatives

Without it being True.

[Probity]

If you are Mundi, and you are a firm believer in the product and want the rights, why not try to get it at a most opportune time when the acquiree is a wounded animal? Foot in the door, establish a more solid relationship with an eventual/possible buy out.

Talk positive yet buy the rights at an advantage/low price, no? Yes, a wounded animal as evidenced by sales, or lack thereof, imo.

[Simpsonly]

“Second was the smelly mundipharma deal, with many hundreds of thousands in up-front Distributor Fees and Australia needs the CE to do it's own Regs, otherwise it's like dealing with the FDA. Mundi has been demanding its $$$ back and BIEL has not shipped one order to Oz other than a few samples long ago. Money's gone and mundi's screaming pi$$ed.

As said, if the CEO is not an inept, over the hill, bungler, the stock price will rise with sales, if he needs to retire now, it will stay in the toilet. Simple.”

And yours . . .

“So explain Jane Orr of Mundipharma still talking positive about acquiring the rights to ActiPatch? Her comments were in the last 10 days!”

Sure, happy to help. First, are you totally convinced that Ms. Orr said those words in the last 10 days, or were they said quite some time ago and regurgitated in a manipulative fashion? It would, of course, be better if you did as others do, so you have absolute confidence in your own DD and that is to reach out directly to Mundi in Sydney or have any senior pharma people you may know reach out for you. Without strong connections in Pharma, you may not get a full response, but if you do have them, Pharma is a small world and people are happy to share. Simply ask if Mundi is happy with BIEL. We are happy with our DD.

[phone]

Email: [e-mail]

Be sure to ask for, or direct your correspondence to, Ms. Jane Orr, Managing Director. She ran AstraZeneca in Turkey for a few years after many years in Oz, then as MD Merck in Oz & NZ before joining Mundi. Smart and very capable, a good and well respected CEO.

What curious minds want to know is how was the $350,000 up-front fee accounted for at BIEL? Did any of that go to pay legal fees and disbursements for the SEC debacle, which are, of course, the responsibility of both Whelans personally and not shareholders? If so, those funds need to be reimbursed to BIEL. From published financial statements, Legal & Accounting Fees have tracked as; for 2014 - $159K, 2015 - $232K, 2016 - $669K, 2017 - $251 and 3 quarters of 2018 - $124K, for a rounded total of $1.435 Million.

Do shareholders deserve a full and transparent disclosure of who paid what legal and accounting expenses for the years of the battle with the SEC? A forensic audit would ensure everything was accounted for appropriately and not misplaced in any other expense area. That’s just good accounting and management to protect all shareholders and until such an audit is done, no one knows any more than what’s in those statements.