Positives from Q2 Financials
BIEL had a 'Loss from Operations' of $29k in Q2, a continued move towards solvency. Q1 had a $70k 'Loss from Operations'. For reference the complete year 2020 had a 'Loss from Operations' of $1.04 million and 2019 had a $1.33 million Loss.
Our COB Rick Staelin loaned BIEL another $153k in Q2. In his position as Chairman of the Board Rick knows everything going on at BIEL and feels comfortable loaning more to BIEL.
Keith Nalepka our VP of Sales continues to hold his 100 million shares. Another vote of confidence in BIEL.
The Sales numbers were not what we were hoping for but with only one OEM, KT, seriously promoting products not bad.
I had made some noise a few months ago that several red flags could signal that BIEL was not able to produce enough devices for all of its OEMs.
* Automotive and other manufacturing segments that use electronic components have had to cut back on production due to a shortage of Integrated Circuits.
https://www.cips.org/supply-management/news/2...-shortage/
* DonJoy & SAI, who were due for a rollout of their 'Powered By ActiPatch' products in Q1 2021 are both MIA. DonJoy has a half dozen online sites selling three 'Powered by ActiPatch' products but extensive searches for Walgreens stores with these products have turned up nothing.
SAI was supposed to launch 10 products in March per an SAI manager I spoke with. Five months later and nothing.
* I did a post on a new electronic part I noticed in the KT device, a J107 Channel Switch. This part was not in the ActiPatch and fairly expensive for a small electronic part at 28 cents each in lots of 10k. I speculated that KT might be setting up the Wave for added function. Now I feel that this was a substitute for a part that BIEL could not get due to the Covid caused Chip Shortage.
* Several posters have noticed that BIEL's 'Cost of Goods Sold' has risen sharply in Q1 2021 & Q2 2021. One logical explanation is that BIEL is paying more for the electronic components that make up its devices due to the Shortage.
The good news is that electronic component manufacturers are working hard to ramp up production and meet the demand. Once supply increases prices should come back down lowering COGS and device manufacturing capabilities should improve.
If BIEL can get DonJoy and SAI operating as well as KT profitability is certain.
And then there are the other segments of the business; International, RecoveryRx, Smart Insole. Our COB needs to write an overdue 'Shareholder Letter' advising investors of BIEL's progress.
BIEL had a 'Loss from Operations' of $29k in Q2, a continued move towards solvency. Q1 had a $70k 'Loss from Operations'. For reference the complete year 2020 had a 'Loss from Operations' of $1.04 million and 2019 had a $1.33 million Loss.
Our COB Rick Staelin loaned BIEL another $153k in Q2. In his position as Chairman of the Board Rick knows everything going on at BIEL and feels comfortable loaning more to BIEL.
Keith Nalepka our VP of Sales continues to hold his 100 million shares. Another vote of confidence in BIEL.
The Sales numbers were not what we were hoping for but with only one OEM, KT, seriously promoting products not bad.
I had made some noise a few months ago that several red flags could signal that BIEL was not able to produce enough devices for all of its OEMs.
* Automotive and other manufacturing segments that use electronic components have had to cut back on production due to a shortage of Integrated Circuits.
https://www.cips.org/supply-management/news/2...-shortage/
* DonJoy & SAI, who were due for a rollout of their 'Powered By ActiPatch' products in Q1 2021 are both MIA. DonJoy has a half dozen online sites selling three 'Powered by ActiPatch' products but extensive searches for Walgreens stores with these products have turned up nothing.
SAI was supposed to launch 10 products in March per an SAI manager I spoke with. Five months later and nothing.
* I did a post on a new electronic part I noticed in the KT device, a J107 Channel Switch. This part was not in the ActiPatch and fairly expensive for a small electronic part at 28 cents each in lots of 10k. I speculated that KT might be setting up the Wave for added function. Now I feel that this was a substitute for a part that BIEL could not get due to the Covid caused Chip Shortage.
* Several posters have noticed that BIEL's 'Cost of Goods Sold' has risen sharply in Q1 2021 & Q2 2021. One logical explanation is that BIEL is paying more for the electronic components that make up its devices due to the Shortage.
The good news is that electronic component manufacturers are working hard to ramp up production and meet the demand. Once supply increases prices should come back down lowering COGS and device manufacturing capabilities should improve.
If BIEL can get DonJoy and SAI operating as well as KT profitability is certain.
And then there are the other segments of the business; International, RecoveryRx, Smart Insole. Our COB needs to write an overdue 'Shareholder Letter' advising investors of BIEL's progress.
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