|Why has BIEL been rising?|
|By Vinny Cassano|
|Wednesday, 10 March 2010 03:00|
In part one, the CEO touched on some very significant subjects regarding the company and while CEOs are always supposed to sound optimistic, Mr. Whelan made it clear that big things are on the horizon for BioElectronics; even going so far as to state that the company is on the verge of becoming a "very significant" one.
Of immediate interest, Mr. Whelan was confident that BIEL would become a fully reporting company in a matter of weeks when the 2009 audit is complete, a significant stepping stone for the company to move to the OTCBB - although he didn't rule out the possibility of an eventual move to the big boards, but one thing at a time.
Nothing new was released regarding the status of the 510k and re-classification issues with the FDA - it's a waiting game as the FDA becomes "educated" on the products - but the CEO was extremely confident that over the short to mid term, both the ActiPatch and Allay products would be approved for OTC in the United States.
Maybe more significant to the stock's price action is the fact that many of the brokers that were not allowing investors to purchase shares of BIEL are now starting to allow the transactions. Mr. Whalen mentioned Schwab, but I know that there were others not allowing BIEL orders as well.
The relaxing of the restrictions is sure to help the BIEL stock price - there were quite a few investors who were standing on the sidelines waiting to get (back) in or add to their positions.
Whelan interview was highly encouraging and confirms what many investors in BIEL have believed for some time - that the company could be on the verge of making a big impact in the global pain & swelling market.
By no means is BioElectronics in the clear - hurdles still remain, but those able to buy in at the three cent level will reap significant rewards down the road, in my opinion.
Disclosure: long BIEL