Georgi Kamburov

Bioelectronics Corp (OTCMKTS:BIEL) Hovers Around $0.001

by Georgi Kamburov July 19, 2016

After sitting flat for five sessions in a row yesterday the stock of Bioelectronics Corp (OTCMKTS:BIEL, BIEL message board) finally made a move. Unfortunately for the shareholders of the company the ticker plunged downwards and wiped 10% of its value, closing just below $0.001 per share. The drop took place on a trade volume of over 102 million shares showing that investors paid increased interest to the stock. Will BIEL retain the market's attention and will they be able to finally start climbing up the chart?

Well, on Wednesday the company is going to have its next meeting with the FDA regarding the pathway for receiving market clearance for its ActiPatch device. If this time BIEL finally receive a positive response it could reinvigorate investors. The problem is that the red flags surrounding the company won't get any less serious.

BIEL's financial state is simply atrocious. The company finished the first quarter of the year with:

• $22 thousand cash
• $939 thousand total current assets
• $5.87 million total current liabilities
• $528 thousand sales
• $457 thousand net loss

During the three months covered by the report nearly 400 million fresh shares saw the light of day - 63 million shares were issued for consulting services while 332 million were issued as note conversions. As of March 31, 2016, BIEL had 11.1 BILLION outstanding shares out of the 15 BILLION authorized.

The dilution may not be coming to end anytime soon. According to the quarterly the convertible notes owned by IBEX, LLC., company that is actually owned by the daughter of BIEL's President, can be turned into more than 12.3 BILLION shares while the shares issuable under the other related party loans of the company had increased to 8.4 BILLION.

When contemplating whether to put any money into the company or not you might want to also take into account the fact that back in February the Securities and Exchange Commission decided it is in the best interest of the public that "public administrative and cease-and-desist proceedings" to be instituted against BIEL. The official complaint alleges that BIEL and related persons and entities to the company have been involved in the unlawful distribution of securities and inaccurate public disclosure.

In early trading today the stock is jumping up and down but is currently sitting 11.1% in the green at $0.0011.

Comments 3

1. Guest
July 22, 2016, 02:59PM

Quotes Part 2

They have accepted our knee and plantar fasciitis studies as indicative of musculoskeletal pain relief and our explanation of our unique mechanism of action. However, they would like a third study to substantiate our broader indication of use. To accommodate our request for market clearance for the relief of musculoskeletal pain, the examiners have agreed to exclusively review the back pain data from our UK Registry studies. Some of this data is peer reviewed and published. We have approximately 4,500 subject’s responses, who used the trial device for musculoskeletal back pain, as well as data on over 100 subjects demonstrating the durability of therapy over a 6 month study period for back pain.

2. Guest
July 22, 2016, 02:59PM

Quotes Georgi,

An update on BIEL for you via a shareholder email Part 1:

7/22/2016 1:44 pm EST

We had a second status meeting with the FDA on Wednesday, July 20, 2016. Senior Management from the Neurology and Physical Medicine Group, 4 examiners, the Head of the Physical Medicine, and the project statistician were present. The meeting went well and the tenor was very good.


3. Guest
July 19, 2016, 04:48PM

Quotes Thanks for the article on BIEL Georgi. I think that you may be downplaying the importance of FDA OTC Clearance. BIEL has been working on this for 10 years. In the UK BIEL has a 3 year relationship with Boots/Walgreen so the contacts have been made with US Walgreens for a quick roll out.

Next week we have the August UK NHS Drug Tariff being released. If the B.Braun/BIEL application for RecoveryRx is listed BIEL will have two major events going on simultaneously!

Type the characters that you see in the box (5 characters).