Replies to post #343114 on Bioelectronics Corp (BIEL)

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Once again, BIEL lacked the resources to market ActiPatch, so they partnered in OEM and Distributor deals with companies that had resources.

KT was an OEM deal where BIEL manufactured KT's product, the 'Wave', that was BIEL's only function in the OEM contract. KT's function was to market and distribute the Wave.

BIEL fulfilled its obligation producing all of the Wave devices that KT ordered:
* 18 pallets (9554 lbs) of the Wave delivered in 12/2020
* 20 pallets (11,384 lbs) of the Wave delivered in 4/2021
* 14 pallets (7,788 lbs) of the Wave delivered in 6/2021

KT decided to reduce the therapy hours of their Wave from the 720 hours of the ActiPatch to 250 hours and raise the RRP from the $29.95 of the ActiPatch to $34.95 . These changes meant that consumers who were paying $29.95 for 720 hours of therapy with ActiPatch would now be paying $100 for 720 hours with the Wave. In addition to this price gouging KT did not advertise in the largest market for PEMF, Chronic Pain. KT stayed in their Kinesiology Tape lane of Athletes and Weekend Warriors.

BIEL had no say in how the Wave was marketed. BIEL did the only thing they could in response to KT's failed marketing, revoke KT's exclusive North American rights for failure to meet minimum ordering quantities.

Future BIEL partners will see the errors that KT made when doing their DD.