I think the problem with the current batch of shareholders is: instead of investing only 1% or even 5% of their portfolio in high-risk subpenny pinksheet stocks, they went ALL IN on BIEL.
They can't sell now because they can't afford the loss. Instead, they are hanging all their hopes on the slim chance that the FDA clears the ActiPatch. Meanwhile, to make themselves and each other feel better, they have doubled their pumping efforts on the message boards.
THEY can't possibly believe the things they are saying. The #1 pumper on the hub thinks the SEC will just cancel the last 6 billion shares issued, bringing the O/S down to 4 billion and raising the PPS -- and when that happens he will open a bottle of expensive booze, light a cigar, and celebrate!
Who could even dream up something so absurd?
notakeover77, what kind of cowardly drive-by shooter are you, anyway?
I heard you clinking bottles and saying "Warriors, come out and PLAY-yay." So I came out. Where did you go?
1. the FDA won't CLEAR the ActiPatch because BIEL named the ActiBand as the Predicate Device and the ActiBand is not cleared for OTC or pain relief or use anywhere on the body but around the eye. Strike 1, 2, 3, you're OUT.
2. The SEC won't halt/suspend BIEL unless the Whelans try to dump more unregistered shares. Which means the BIELans are in desperate need of cash right NOW.
3. Administrative action comes first, criminal charges come later if they come at all -- and in this case I think there are definitely going to be criminal charges.
4. Selling billions of unregistered shares is NOTHING like an IRS audit.
5. If a disgruntled former employee blew the whistle on BIEL, the SEC investigated FIRST and filed the Administrative Order SECOND. In other words, the SEC may have been alerted by someone who hates BIEL, but the SEC decided the case has merit and needs further investigation, and meanwhile the BIELans better not try dumping more shares illegally. Yes I said ILLEGALLY - the SEC said it too.
"Someone obviously has a vandetta [sic] against BIEL and presented a very slanted perspective to the SEC."
Perhaps, but the SEC then investigated and decided for themselves that the complaint had merit. In other words, the SEC has the facts and thinks BIEL needs further examination, while YOU, who have no facts, have decided the case has no merit. Guess whom I believe?
"BIEL's response was excellent."
Especially the part where they said "BioElectronics has filed with the SEC on two occasions and was stymied by administrative requirements that were not affordable by a small company." That was truly excellent.
"They weren't hiding anything,"
Except the sales of securities and the A/S increases, most recently to 11 billion and then quickly to 15 billion. The SEC hasn't even looked past November 2014 yet -- they think BIEL has a 3 million O/S. This is going to be fun to watch when they see what happened in 2015.
" ...the public financial statements they provided voluntarily (pink sheet stocks are not required to do so)."
You apparently don't know the difference between "OTC Pink Current Information" and the OTC Stop Sign ("companies that are not able or willing to provide disclosure to the public markets). Ignorance is bliss. When you see the Stop Sign or the skull-and-crossbones (Caveat Emptor) on OTCMarkets, perhaps you'll take the time to learn what that means.
"Glad this came out before FDA approval rather than after."
Are you? Are you really? Cause for celebration, then, in your mind?
notakeover77, you said this on January 22:
"The Amazing Lakeshore and his Disappearing Act have returned. Enjoy his pearls of wisdom before they vanish or totally ignore the clown who is afraid to have a record of his posts."
Thankfully, you've been stalking me since October or longer and have been saving my posts. Can we review more of them, please?
Did you save any where I explain why I delete my posts? Want me to explain it again? It's because psychos have stalked me in the past after deciding that I was responsible for their loss. One of them got WAY too close to discovering my real identity and address, and I have a wife and son to protect.
Let me guess. You think BIEL fell into the pinksheets because of message board bashers. You think the PPS has declined because of message board bashers. You think I am a message board basher and things I wrote caused the PPS to decline.
Why else would you save my posts and/or care whether I delete them or not?
So please reprint more of my "pearls of wisdom." I think you're a creep for stalking me but I don't think YOU are smart enough to discover my true identity.... so keep saving my posts, if it makes you feel better about the bag you're holding.
I made a good profit on BIEL in October when the FDA made their reclassification official -- could have been more if Whelan wasn't such a dunce, but oh well, that's the way the ball bounces. How have you done on BIEL -- did you take a profit in October?
That's really nice of you to stalk me and save my old posts. Are you going to print more? You must have dozens. Perhaps you should make a Wordpress site and just reprint them all?
Or are you going to cherry-pick and only reprint the ones I wrote when I was still planning to gamble on the FDA play?
Got any where I say that all pinksheet sub-penny biotechs are scams? I say that a lot.
Got any where I say that only a fool buys and HOLDS a pinksheet sub-penny biotech -- that the whole point of trading pinksheet sub-penny biotech stocks is to accumulate during the lulls and sell the news for profit? Oh wait, the one you just reprinted says that!
So did you sell that reclassification news, or are you a one of these bagholders who has been holding since 2009 and claims "Andy is my friend?"
Yes, I said all that. Thanks for posting!
I did respect the coaches' posts back in October and I did think this was a strong buy back then. But then I contacted Knopick who told me they used the ActiBand as the Predicate Device and I decided that the FDA was going to send a NSE letter again this time. As soon as I said THAT on the MB's, Coach stopped talking about the company and the stock and started attacking me, becoming the thing I hate about these MB's. Coach is one of the WORST offenders now.
I played the FDA reclassification by buying at .0006 in August/Sept -- and I sold about half at .002 after it reached .0024 and then fell back on the day the FDA actually published their decision but BIEL didn't release the PR. When BIEL released their PR the next day and it sputtered at .0011 I dumped the rest.
I still made over 100% profit on BIEL that week -- although it could have been MUCH more if Whelan had released a PR the same day the FDA published their reclassification decision. He could have dumped MILLIONS of shares for double the money if he had just done that simple thing. Yes, he is a fool.
See the part where I said I would wait before "rebuilding my position?"-- well I'm still waiting. I said many times, I was waiting for .0007 to get back in, but that never happened until the SEC busted these scam artists, changing the whole game. Now I'm dropping my re-entry price to .0003 and even then I'll be hesitant.
I like this post! Thanks for stalking me! Got any more? Got any where I talk about Knopick revealing that the predicate device is the ActiBand? I bet you do, if you saved THIS post.
I predict the Whelans will cash out the last 4 billion shares and then fold up the tent.
By that I mean filing for bankruptcy and revoking share registration to placate the SEC. I don't think BIEL can get money to continue operations so BIEL's days are numbered, IMO. They operate at a loss so there's no advantage in waiting very long to do this.
BIEL the Corporation might be insured against Class Actions, in which case an ambulance chaser will probably instigate a CA, but without insurance there would be no assets which means no CA.
BIEL defaults on all the loans, transferring the patent to Kelly. The creditors are all family members, so there are no creditors to object. Convenient, that.
Kelly can sell the patent to a competitor and that competitor can buy the manufacturing equipment in the Liquidation Sale. If the FDA clears the ActiPatch they'll get more for the patent. If the FDA rejects the 510(k) the new owner can take its time and do a better job of getting the ActiPatch through FDA clearance, so either way I think the ActiPatch eventually ends up OTC in the USA.
The SEC shrugs and levies some puny fines which the Whelans can easily afford, and everyone walks away happy. Everyone except BIEL shareholders of course, but we know where THEY stand in the pecking order.
Just my opinion, but this seems to be the most profitable course of action for the Whelans and therefore the course I think they will take.
Bankruptcy might not even be necessary. Anyone familiar with RXPC knows they didn't even bother with BK -- they just revoked share registration and disappeared, leaving 5 billion shares in the hands of bewildered bagholders. RXPC had no assets though -- BIEL has that pesky patent. Bankruptcy would be simple since all the creditors would be remarkably cooperative and that would make the loan defaults easy to administrate.
bigal, in the pinksheets, "routine" would be "no inquiry at all."
The SEC usually just ignores the pinksheets. The only time they investigate a pinksheet company is when it's just too egregious to ignore.
I just can't understand the way BIEL shareholders act like they are holding a blue chip stock.
And WHEN are you noobs going to stop using the word "Approval?" It's a DEVICE. Devices get CLEARED, drugs get APPROVED.
that PR is hilarious! Did Whelan even READ the Administrative Order?
"both of which have been disclosed previously to BioElectronics shareholders..." Fine, if you register the shares!
"As fully disclosed in Company financials, BioElectronics has financed its development operations in part with convertible loans." Fine, if you register the shares!
"It is not clear in the complaint if the SEC objects to shareholder sales or investing the proceeds in the Company. " Oh but it IS clear: the SEC objects because you didn't register the shares!
"BioElectronics has filed with the SEC on two occasions and was stymied by administrative requirements that were not affordable by a small company." WHAT kind of excuse is THAT? "We couldn't afford to file correctly so we just skipped that part?"
I'll be surprised to see any Class Actions, simply because there's no money in it for the lawyers. BioElectronics the Company doesn't own the patents so they don't really have much in the way of assets.
The PR is out. Everyone named in the SEC's Administrative Action is innocent and loves their mother and recently helped a little old lady across the street. The SEC owes the Whelans an apology, apparently!
Well, we're all glad THAT's cleared up!
As for the Market Maker -- he knows EXACTLY how to act. His shares get sold first. He'll prop up the price long enough to dump whatever he is holding, and then he'll pull the plug and let the carnage begin. He'll have to buy some back before the day ends but I think he'll be getting THOSE shares at a pretty decent discount.
What a mature way to handle a crisis.
I swear, when I read this message board, I often think I'm reading a Dumb and Dumber script.
I have so many of you pumptards on Ignore that I can't even guess which one you are. Whatever. Keep up the stellar work.
The SEC is "no big deal?"
True, it's not a criminal or civil case. But the SEC can and will suspend BIEL from trading if the Whelans try to dump more unregistered shares. Then you and the rest of the BIEL shareholders will have a lot of idle time to reassure each other that the SEC is "no big deal."
Otherwise, BIEL needs a new method of financing. That will be entertaining to watch.
The SEC moves slow, but they move deliberately. They usually don't bother with pinksheet companies. I guess BIEL should have stopped reporting to the SEC about five years earlier than they did.
BIEL just got a lot more interesting. How will the eBabies react on Monday?
" If you want I can focus my attention towards you. Look at the blibbering idiot that edbi has become, under my posts about him. Be careful, I know more about you, then you will ever know about me. "
wow. What I want is for you to put me on Ignore and carry on with whatever you think you're doing here WITHOUT ME IN YOUR LITTLE FANTASY.
You cannot ignore the past when predicting the future.
You think you're being conservative. I think you're wearing blinders. Putting a product on the shelf does not guarantee sales. Customers at retail corner pharmacies don't shell out $35 for something they think *might* work and past customers are not coming back as repeat customers.
Walk into a Walgreens or CVS store and watch the customers for a half hour. Watch what they bring to checkout. You'll see what I mean.
arq, my $800k number is based on analysis of quarterly revenues since 2011.
in 2011 there was hype from some TV show and 4th Qtr was much higher than previous quarters. That hype quickly dissipated in 2012, and that's a problem: that means customers that bought it in 2011 did not return to buy more. Do you get that?
In 2012 BIEL also got busted by the FDA for trying to sell the device illegally on a couple of websites. Bad Year for BIEL. And in 2013 and the first 3 qtrs of 2014, revenues were also poor.
Then they started their push into the UK OTC market and 4th Qtr 2014 was huge, compared to previous quarters -- expected for a new market. But have revenues exponentially increased since then, as they would for a product that had repeat customers? No, revenues have flatlined.
4th Quarter revenues have always been much better than 3rd Quarter, so perhaps you are right and I am wrong, and revenues will be over $1 million 4th Qtr 2015. The problem is: as revenues increase, so does net loss. In 2014, every quarter had higher revenues than the same quarter in 2013, but also a higher Loss from Operations. The same thing has happened so far in 2015. Look at their skyrocketing Burn Rate (operational costs, not including interest) in the table below. THIS IS NOT THE SIGN OF A WELL-RUN COMPANY.
Year Qtr Sales Gross profit Burn Loss from Operations
2013 1st 112,888 43,344 441,796 -398,452
2013 2nd 180,613 65,004 681,664 -616,660
2013 3rd 110,091 5,220 544,139 -538,919
2013 4th 261,918 121,218 500,715 -379,497
2014 1st 169,584 83,844 556,639 -472,795
2014 2nd 276,696 68,501 721,598 -653,097
2014 3rd 231,174 49,620 616,962 -567,342
2014 4th 612,442 343,115 950,852 -607,737
2015 1st 503,448 220,940 719,213 -498,273
2015 2nd 675,348 291,454 866,366 -574,912
2015 3rd 499,869 319,804 892,843 -573,039
I think sales will be about $800k.
Also -- they are not getting closer to breakeven - they are going in the opposite direction. Net loss from operations (and I'm not counting the debt here, just sales and operational burn) was higher in every quarter of 2015 when compared to that same quarter in 2014.
This is with their big UK expansion that started a year ago. What this tells me is: they could sell the $5 scratch-and-sniff version but they can't sell the full-size device.
We'll see who is right in a month or two.