I doubt that the Update caused the sale of 300 mil
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Posted On: 08/03/2019 2:54:42 PM
I doubt that the Update caused the sale of 300 million shares from one source Disco.
The news of delays with the 510k and Allay Clinicals, while not good news, are part of the territory when dealing with these projects. IMO the great news of a Licensing Partner more than out weighed the delays.
The Most likely scenario is one of BIEL's lenders converted the loan to shares and then sold. It happened so late in the day that there was only a couple of minutes for a market reaction.
Sometimes we forget that right now BIEL operates in the red each quarter and needs to sell shares to pay the bills. The new Licensing Partner will help that situation and the coming CE Approval will be a major help.
The news of delays with the 510k and Allay Clinicals, while not good news, are part of the territory when dealing with these projects. IMO the great news of a Licensing Partner more than out weighed the delays.
The Most likely scenario is one of BIEL's lenders converted the loan to shares and then sold. It happened so late in the day that there was only a couple of minutes for a market reaction.
Sometimes we forget that right now BIEL operates in the red each quarter and needs to sell shares to pay the bills. The new Licensing Partner will help that situation and the coming CE Approval will be a major help.
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