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Bioelectronics Answers Shareholder Questions (OTC:BIEL)

By Marsellus Wallace on 10/29/2009 – 9:44 am PDTOne Comment

Bioelectronics Corp (OTC:BIEL) answered many shareholder questions in a email from Joe Noel posted by MarselusWallace. These questions and answers from Joe Noel are not modified in any way and contains numerous typos as these answers took Mr. Noel a considerable amount of time and to edit the answers would cost him time he simply does not have. Plus Mr Noel advised he was using a speech dictation software that is not alway perfect. With this being said here are the questions and answers below along with specific disclosures Mr Noel specifically required.

1. Currently the A/S count is 1.5B. The O/S is very near that number. Are there any plans to raise the A/S, and if so, does it take a vote of the shareholders, or do insiders control enough stock to make it happen without our vote?

Answer – Yes, BIEL is bumping up against its maximum. The share count has increased recently due to additional debt conversions. Several months ago the convertible debentures were paid off via a conversion to equity. Over the past few weeks the remaining debt has also been converted to equity. This strengthens the company’s balance sheet, but of course the downside is dilution. With most of the debt now converted there should be a significant deceleration in dilution. If additional capital needs to be raised or if there is an acquisition the company wants to make then the number of authorized shares would be increased.

2. We all know approval is between Oct 15 and Dec 30. Do you have any comments on the dates

Answer – There is really no way of telling if the approval date is between October 15 and December 30 as the FDA simply does not operate in this manner. We do believe that this is a fairly accurate “guesstimate”, but we do not have any specific basis to make such an assumption. FDA will act on its own timeframe and there’s nothing we can do to accelerate this – we are going to simply have to be patient.

3. What are the official sales figures /per country around the world.

Answer – We have not released official sales figures on a per country basis. I want to emphasize that revenue production is not the major goal of the company. We have said many times that the priorities at BioElectronics are clinical trials, FDA filings, and building our brands. We believe we are on track to meet these goals. Over the next few weeks you will see us change our emphasis toward revenue production. On Monday, we have a meeting specifically to address this new phase in the company’s life. Our revenue plan for next year is very large and we are currently working very hard to devise strategies to meet this revenue production goal. I think shareholders will be very impressed with the programs we are currently putting in place to produce major revenue growth during full year 2010.

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