Note: the '911' code occurred on Fri, 19 May. The attorney letter was released 31 May, after hours. Might we expect ...
Recently, it was revealed that Keith Nalepka, VP of Sales and Board member for BIEL also has (or had?) responsibilities at VLMS Global Healthcare, medical coding & billing. https://vlmshealthcare.com/about-us. I am unsure of when this took place. On the o.b. the speculation is, according to bobby1151, KN was an employee of VLMS in 2017. He claims to have proof. I believe he does. Quote: bobby1151 //Re: art2426 post# 315151 // Mon., 29 May 2023 // Post# 315154 of 315162 // Please check www.linkedin.com for printed article showing Keith Nalepka, Vice President of Sales (North America) at VLMS Global Healthcare/Medical - Keith was reaching out to 1,000 Media Outlets. I have a printed copy of the article. Since we have not had a Chairman's Letter since Nov 2020 (I could swear we had some communique a little over a year ago ???) and no official press release since Apr 2022, we are way, way overdue for an update. Q1 numbers are very late, if they are to be released at all. All this leads to speculation and guesswork. I don't think the intention is to leave investors in the dark b/c BIEL is a bunch of big, bad meanies. I believe this all is a result of BIEL putting together some kind of deal involving Viant and VLMS Global Healthcare (and a mystery guest?) and perhaps this provides a partial explanation of why so many 'deals' have been delayed or put on the back burner. Speculation, indeed.
According to VLMS's website, they have acquired 1,000+ clients since 2017, the beginning of the company. Seems like alot but it's impossible to compare this to others in the same line of work. I shall presume their clients are insurance companies, hospital groups, and any other medical business requiring payments and billing. That's a lotta contacts. Working w/ those contacts (re: reimbursement) away from prying eyes always scrutinizing all things BIEL would prove to be invaluable.
Be that as it may, something is going on between BIEL and VLMS. Business relationships like this don't happen overnight. Just like Dr. Koneru leaving BIEL for Viant, large scale world-wide manufacturer of medical devices. The question is does Keith having duties involving another company constitute a Material Event and thus require an 8-K or a mention in quarterlys or annual. If KN started there in 2017 (company's beginning !?) then that adds a whole 'nuther layer. Quote: An 8-K is a report of unscheduled material events or corporate changes at a company that could be of importance to the shareholders or the Securities and Exchange Commission (SEC). Also known as a Form 8K, the report notifies the public of events, including acquisitions, bankruptcy, the resignation of directors, or changes in the fiscal year.
Advocates of the 8-K theory say his involvement w/ VLMS takes away from his duties as VP of Sales working for BIEL generating sales. I disagree in that I think his involvement w/ VLMS enhances (-ed) and complements (-ed) his role at BIEL.
And here's another thing. Let's say KN has had dealings (?) w/ VLMS since 2017. Perhaps not directly or even consistently. Dr. Koneru didn't leave BIEL until Jan 2021, 4-5 yrs BEFORE KN may have had an ongoing relationship w/ VLMS. Maybe, JUST MAYBE, KN was busy lining up the whole reimbursement scheme w/ gov't and insurance companies. Whatever is, in fact, happening 'behind the scenes' it has lots (& lots) of moving parts.
Should BIEL get acquired the issue of NOLs & Change of Ownership is front and central. Laws and official policies are NOT written by those looking out for the little guy. Whatever law is written it is an ironclad rule that the big shots, the wheelers & dealers, will always have their monetary fiefdom preserved and/or enhanced. For every 'loophole' closed two more are created; buried in the swamp of never-ending rhetoric and obscure legalese. And do International 'free trade' agreements make a difference? Yet another layer to take into account. Like I said, lots of moving parts.
And what is this outside consultancy all about? A lawyer putting out a form letter to verify qrtrly results, in my mind, doesn't sound like an outside consultancy. Looks like BIEL is 'ticking off a box' on the way to 'Pink Current' status; all well and good. How about advisement on the transfer of NOLs that preserves the full amount of the NOLs, in our case that is $40 million vs a percentage of about 4-5% of that amt? Now that would be worth getting an expert opinion on, I should think.
BIEL will sit on the backbench ... until it doesn't. Do yourself a favor ... BUY_MORE_SHARES
News 
Market Data 
Discover 
AI
