Release #:812-210233-rl-1154428: We have received
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Posted On: 08/17/2021 12:02:44 PM
Release #:812-210233-rl-1154428:
We have received questions about BIEL's financial filing yesterday.
This is a message from the CEO:
The second quarter financial results were posted yesterday as required by the OTC Markets.
An in-depth look at the financials would show you a decrease in G&A Expenses- other of more than $45k. This is a result of a write-off of compensation due to me. Meaning I did not get PAID.
We issued no additional stock during the second quarter- holding the line on dilution.
Ibex LLC & St. John’s LLC continue to neither collect nor accrue interest on their notes. Between 2020 & 2021 this is more than $1.5 million dollars in interest expense the Company did not incur.
Richard Staelin invested an additional $200k in cash at better terms than the Company would be able to obtain elsewhere.
The Company has in excess of $555k in deferred revenue on the books. Revenue is recorded when product is shipped to the customer- not when the cash payments are received.
Revenue for the 6 months ended June 30, 2021 is 666.34% more than for the 6 months ended June 30, 2020.
We had product on shelf in major retailers (CVS & Walgreens) within a year of receiving the US FDA OTC clearance for general musculoskeletal pain.
We have world class athletes actively and regularly promoting our technology (KT Recovery+ Wave) on social media.
As always, we appreciate the support of our shareholders and you can rest assured the Company management is doing everything possible to move BioElectronics to profitability as swiftly as possible.
We have received questions about BIEL's financial filing yesterday.
This is a message from the CEO:
The second quarter financial results were posted yesterday as required by the OTC Markets.
An in-depth look at the financials would show you a decrease in G&A Expenses- other of more than $45k. This is a result of a write-off of compensation due to me. Meaning I did not get PAID.
We issued no additional stock during the second quarter- holding the line on dilution.
Ibex LLC & St. John’s LLC continue to neither collect nor accrue interest on their notes. Between 2020 & 2021 this is more than $1.5 million dollars in interest expense the Company did not incur.
Richard Staelin invested an additional $200k in cash at better terms than the Company would be able to obtain elsewhere.
The Company has in excess of $555k in deferred revenue on the books. Revenue is recorded when product is shipped to the customer- not when the cash payments are received.
Revenue for the 6 months ended June 30, 2021 is 666.34% more than for the 6 months ended June 30, 2020.
We had product on shelf in major retailers (CVS & Walgreens) within a year of receiving the US FDA OTC clearance for general musculoskeletal pain.
We have world class athletes actively and regularly promoting our technology (KT Recovery+ Wave) on social media.
As always, we appreciate the support of our shareholders and you can rest assured the Company management is doing everything possible to move BioElectronics to profitability as swiftly as possible.
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