The secret to understanding Kelly Whelan: take whatever she says literally with the most skeptical interpretation possible.
Kelly did not promise an update. She merely gave an excuse for NOT providing an update. Read it again -- she didn't say "I will provide an update for the new year." She said she would not provide an update BEFORE the new year. And she didn't.
Kelly likes to play with words. This CEO thing is a game to her.
She discovered that vague references to non-disclosure agreements shut up her shareholders, so she's been using THAT chestnut for 24 months. NDA's don't prevent a company from disclosing material events or providing updates, but Kelly thinks she's being clever with the NDA excuse, and you have to admit, it really does shut up her shareholders.
Electrome might actually sell some product. So far, it looks like they are just selling NOS Actipatches on their website for $49 a pop. Wyatt bought one and he says he was notified that it shipped, but he hasn't told us yet whether it was Electrome's new packaging or BIEL's old packaging.
The biggest flaw in Mayer's plan: he has to rely on Kelly Whelan, and that's a gamble, considering how poorly she's done since taking over the company. Kelly needs to get product from China to drop-ship to Mayer but we don't know if China is still playing ball. They haven't shipped anything to BIEL since 2022 and they didn't renew their FDA registration for 2026. That ain't good.
The MundiPharma arbitration case might be finished -- SIAC website says a case like that typically takes six months, and it started in October. Unfortunately, if BIEL loses, we'll never hear about it from Kelly Whelan. We'll have to find it on our own.
Paint dries slowly. Maybe something will happen here by the end of 2026. Maybe it won't.
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