Below is a chart for the recorded financial history of (BIEL) Bioelectronics Corp for three months intervals. I have become a huge believer in charting financial data, and data for that matter.
- Sales growth starting with March 2015
- Check how the Cost of Goods is below the Gross Profit in September for the first time since 2011-sweet.
BIEL has added a slew of distributors, so this will push up the Sales in Q4.
This chart demonstrates signs of life in 2015. I have to congratulate Andrew Whelan and the entire gang. Liking that drop in the COG in September 2015.
I have not spoken with the FDA since the Reclass was finalized. I admit the Reclass was an impressive document, and was actually very comprehensive. I do think the FDA must be “template-driven” in such matters, as there must exist some protocol they use for the series of hoops a new technology must jump through before making it to the public.
The increasing European sales and the fact some people seem to swear by this device for treating chronic pain is great because the public is building the case for USA FDA approval by Beta testing it. In my view the only OTC (over the counter, FDA Class 1 or 2) obstacle would be for menstrual pain. While the induced magnetic field is slight, the FDA might tread more cautiously here. However, this is not even currently on the table, as BIEL’s recent 510 K submission was not for this application.
*****I made these charts based on BIEL’s public financial disclosures. I don’t work there, though with great charts like this they should hire me. The graphing process helps catch the worst typos, but I may have made mistakes when I got ambitious a while back and transcribed everything with the help of a not great pdf converter. I think in a general way these charts reflect the data, and to the best of my knowledge, in an exact way as well.
My prediction is the same as Mr. T’s was–PAIN.
Pain is here to stay. Pain is the most reliable commodity on the planet. BIEL has a hotshot law firm now which has a stake in getting them approved. The pain of BIEL investors has been epic. The treatment for this pain is FDA approval. The Actipatch will help with physical pain. Basically, it is a race between the FDA getting off their duffs and signing off on forms they completed the heavy lifting for when they did the Reclass and the economy and/or ISIS propelling us into some cataclysm.
Anyway, I did my bit, and I at least encouraged myself. The Sept 2015 COG going below the Gross Profit had to be charted to be appreciated, but with all the new stores picking this up, it looks like the trend could continue.