|BioElectronics' Expansion into Latin America|
|By Vinny Cassano|
|Saturday, 20 March 2010 03:00|
BioElectronics Corp announced this week that the company has launched the anticipated Direct Response Television (DRTV) marketing program for the Allay patch in Latin America. According to the press release, the full commercial launch comes on the heels of a very successful test phase that drew "significant interest" from Latin American women.
The PR also stated that in the coming weeks a "major expansion" is set to take place, including a push into additional markets such as Venezuela, Bolivia, Paraguay, Uruguay and Argentina. It's yet to be seen if Venezuelan President Hugo Chavez will commandeer the Allay Patch and claim it as a product of the State.
The expansion will also include a roll-out of ActiPatch in the same Latin American markets where Allay is already gaining a foothold.
While the PR did not mention any specific sales numbers, the expansion and growth in the Central and South American markets is an encouraging milestone for BioElectronics as the company can realize a revenue stream while dealing with the FDA over-the-counter clearances in the United States.
While still trading for just a few pennies, BIEL continues to be an intriguing buy, in opinion, because this company could quickly turn into a great growth story as as developments unfold in the coming months and into 2011.
In his recent audio interview, CEO Andrew Whelan noted that BioElectronics was on the verge of becoming a "very significant company".
It'll only be a matter of time before we find out if he's right or not, but recent progress by the company continues to be encouraging. I'm still buying at the three cent level.
Disclosure: Long BIEL.
Vinny also authors the popular stock investing blog VFC's Stock House.