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Sunday, December 4, 2022

BioElectronics Corp. (OTCPINK: BIEL) Major Reversal Brewing as Pain Management Pioneer Reports Record Revenues & Readies Launch of its KT Recovery+ WaveTM in the UK

BioElectronics Corp. (OTCPINK: BIEL) is heating up in recent trading and signaling it may be ready for a major reversal northbound off $0.001 support levels. BIEL has got the attentions of legions of new shareholders and some big players in small caps who have jumped on board.  The stock has liquidity, plenty of new eyes and volume has been building. Currently under heavy accumulation BIEL is looking to blaze a path into a whole new stratosphere as so many penny stocks did last year  – a break over $0.008 and its blue skies ahead for BIEL. 

BIEL sales have increased rapidly; for the 3 months ended September 30, 2021 the Company reported $414,667 in revenues compared to $155,818 for the same period last year. For the 9 months ended September 30, 2021 BIEL reported $1,427,222 in revenues compared to $665,039 for the same period last year. BioElectronics is making big moves and quickly gaining traction in an enormous market; chronic pain affects approximately 1.5 billion people globally – more than heart disease, cancer, and diabetes. Chronic pain costs $700 billion annually in the US and Europe alone. BioElectronics product line of drug-free pain relievers meets these needs and is ready to seize this global opportunity. The Company has received CE (Conformité Européenne) Mark for its ActiPatch® and RecoveryRx®.  These wearable devices can now be sold over the counter in 33 European Union (EU) countries, and many other non-EU countries like Australia that recognize the CE mark. This comes shortly after the Company acquired three 510(k) clearances from the U.S. Food & Drug Administration (FDA).  

BioElectronics Corp. (OTCPINK: BIEL) is a leader in non-invasive electroceuticals and the manufacturer of industry leading disposable, drug-free, pain therapy devices for the over-the-counter treatment of back pain and other musculoskeletal complaints; RecoveryRx® Devices for chronic and post-operative pain and wound care.  In February 2017, BioElectronics received over-the-counter use market clearance from the US FDA for ActiPatch® for the adjunctive treatment of musculoskeletal pain. More recently BIEL received CE (Conformité Européenne) Mark for its ActiPatch® and RecoveryRx®.  These wearable devices can now be sold over the counter in 33 European Union (EU) countries, and many other non-EU countries like Australia that recognize the CE mark. This comes shortly after the Company acquired three 510(k) clearances from the U.S. Food & Drug Administration (FDA).  

BIEL current OTC product line includes ActiPatch® Musculoskeletal Pain Therapy, Allay® Menstrual Pain Therapy, Smart Insole™ Heel Pain Therapy, and RecoveryRx® Post-operative and Chronic Wounds Therapy. The US FDA clearance is for our flagship product the ActiPatch® Musculoskeletal Pain Therapy, developed to relieve chronic pain. ActiPatch is a drug-free, wearable nonprescription medical device that provides 720-hours (90, 8-hour treatments) of on/off therapy. Most users obtain relief with only 8 hours per day of use, so the device will generally last several months, depending on use.  

The Company has a partnership with Scott Specialties Inc. to bring their innovative pain management devices to the retail consumer marketplace under the DonJoy® BIEL also has an OEM agreement in place with KT Health, LLC that incorporates BioElectronics’ ActiPatch® technology into KT Health’s KT Recovery+® product line, which will be marketed under the proprietary trade name KT Recovery+ Wave™. KT Health will leverage BioElectronics’ FDA 510(k) clearance to market, promote, and distribute the devices for the treatment of general musculoskeletal pain. KT Health, LLC recently received its initial order to launch its KT Recovery+ WaveTM in the United Kingdom and intends to continue expansion into other markets. Sales have increased rapidly; for the 3 months ended September 30, 2021 the Company reported $414,667 in revenues compared to $155,818 for the same period last year. For the 9 months ended September 30, 2021 BIEL reported $1,427,222 in revenues compared to $665,039 for the same period last year. 

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BioElectronics continues making progress on international sales; the Company’s sales partner in Australia, LMT Surgical Party, Ltd, is reporting strong demand and excellent clinical outcomes with the RecoveryRx product.  BioElectronics sales partner in Korea is preparing to receive their first order with an expected product launch date in the spring of 2022.  The Company’s distributor in Bangladesh has resumed full operations following Covid19 shutdowns in Bangladesh and has placed an order for delivery in the first quarter of 2022.  The sales team continues discussions with several firms that have an established presence in the consumer health space, to expand distribution in Europe and the MENA (Middle East and North Africa) region. The sales team is also actively seeking an OEM partner for a wound pain product development partnership.  

The Research and Development team is expanding its efforts regarding the brain stimulation project by collaborating with the Clinical Science and Engineering Research Lab at Binghamton University under the guidance of Ken McLeod, Ph.D.  The vision behind this research undertaking is to develop and optimize PSWT technology that will be capable of serving as a therapeutic intervention for psychological disorders such as depression and anxiety. 

On January 3, 2021 BIEL announced the managers of the firm’s two largest lenders, Ibex LLC and St. John’s LLC, both of which are controlled by Whelan family members, have agreed to forgo interest due on their convertible debt notes for a third consecutive year, through the end of 2022. Kelly Whelan, President & CEO of BioElectronics, stated: “It is the goal of both the BioElectronics’ management team and the Whelan family to bring the Company to sustained profitability as quickly as possible, for the benefit of all shareholders. The Whelan family has collectively forfeited interest in excess of $1.5 million during 2020 and 2021 and will extend forbearance of interest through at least 2022.”  

BIEL continues its engagements in basic and applied research embarking on 3 new projects over the past 6 months. The Company is also actively seeking partners towards its goal of expanding its technology’s indications for use. Specifically, the goal is to put together a basic and applied research plan for various clinical disorders that are closely linked to the etiology behind many types of chronic pain, i.e. central sensitization. Some of these disorders include, but are not limited to, overactive bladder (about 33 million Americans have overactive bladder), vulvodynia (as many as 16 percent of women in the U.S. suffer from vulvodynia at some point in their lives), and other treatment-resistant conditions.  

BioElectronics is making big moves and quickly gaining traction in en enormous market; chronic pain affects approximately 1.5 billion people globally – more than heart disease, cancer, and diabetes. Chronic pain costs $700 billion annually in the US and Europe. BioElectronics product line of drug-free pain relievers meets these needs and is ready to seize this global opportunity. BIEL has the right people behind it; the Company is led by CEO Andrew Whelan whose family is BioElectronics biggest creditor and their EVP Dr. Deepak Kotak who was chief medical officer at Houston based TraumaTec. Dr. Kotak has also practiced for four years as a civil lawyer. He has a particular interest in therapeutic vaccines for cancer and chronic infectious diseases.

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BIEL is heating up in recent trading and signaling it may be ready for a major reversal northbound off $0.001 support levels. BIEL has got the attentions of legions of new shareholders and some big players in small caps who have jumped on board.  The stock has liquidity, plenty of new eyes and volume has been building. Currently under heavy accumulation BIEL is looking to blaze a path into a whole new stratosphere as so many penny stocks did last year  – a break over $0.008 and its blue skies ahead for BIEL. BIEL sales have increased rapidly; for the 3 months ended September 30, 2021 the Company reported $414,667 in revenues compared to $155,818 for the same period last year. For the 9 months ended September 30, 2021 BIEL reported $1,427,222 in revenues compared to $665,039 for the same period last year. BioElectronics is making big moves and quickly gaining traction in an enormous market; chronic pain affects approximately 1.5 billion people globally – more than heart disease, cancer, and diabetes. Chronic pain costs $700 billion annually in the US and Europe alone. BioElectronics product line of drug-free pain relievers meets these needs and is ready to seize this global opportunity. The Company has received CE (Conformité Européenne) Mark for its ActiPatch® and RecoveryRx®.  These wearable devices can now be sold over the counter in 33 European Union (EU) countries, and many other non-EU countries like Australia that recognize the CE mark. This comes shortly after the Company acquired three 510(k) clearances from the U.S. Food & Drug Administration (FDA). We will be updating on BIEL when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with BIEL.

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Disclosure: we hold no position in  BIEL either long or short and we have not been compensated for this article

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