Replies to post #330635 on Bioelectronics Corp (BIEL)

[toohot]

True BIEL longs. Don't forget about Mundi Pharma and how they screwed over us.

POSSIBLE LEGAL ACTION

The Company is exploring entering into legal action against Mundi Pharma South East Asia for breach of contract. They signed a five-year contract in October of 2018 with BioElectronics Corporation, agreeing to purchase a minimum of approximately $14,000,000 worth of product from us over the next five years of the contract. However, they never completed the registration of the products into the five territories that we granted them exclusive distributorship and only took ownership of a small amount of the inventory. We have engaged both local counsel and counsel in Singapore, where any arbitration action would need to take place. The Company is actively seeking financial backing to support this legal action.




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