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BioElectronics Corporation Discusses Q2 Financials

Revenue Growth Exceeds 665%

FREDERICK, MARYLAND - (NewMediaWire) - August 30, 2021 - BioElectronics Corporation (https://www.bielcorp.com/ OTC: BIEL) said today that it would like to clarify information about the Company and acknowledge the investor community’s request for comments following Q2 financials.

Key facts from the Q2 financials many of which were found in the footnotes: 

  • The CEO again took no pay, and the Chairman invested additional cash into the Company.

  • Two major lenders neither collected nor accrued interest on their notes.

  • No additional stock was issued during the 2nd quarter. 

  • Products using BIEL technology are now on the shelves of major retailers including CVS and Walgreens.

  • World class athletes are actively promoting BIEL’s technology (KT Recovery+ Wave) on social media.

Keeping in line with BIEL’s impressive year-over-year growth, the six months ended June 30, 2021 sales were 665% higher than the same period during 2020.  While Q2 2021 sales were lower than Q1 2021 sales, this does not account for deferred revenue from booked orders, that amounts to $555,000.  Deferred revenue will be recorded as sales in the applicable quarter when the products are shipped. 

BioElectronics is working to accommodate additional orders after strong product launches in Q1 2021 by their three major channel partners: KT Health, Scott Specialties in the OTC space, and Medi-Launch in the prescription medical market. Consumer acceptance of the technology has been very positive, as witnessed by strong consumer reviews for the KT Recovery+ Wave™ & DonJoy® EME powered by ActiPatch® (averaging over 4.5/5 on Amazon.com and their respective company websites). Feedback from surgeons for the RecoveryRx® has been excellent.

The Company is also making progress on international sales. In addition to re-acquiring the CE mark (which allows the Company to sell in most international countries) in late 2020, it also obtained MDSAP certification in Q1 2021, which allows for product distribution in Canada, Australia, and New Zealand. Leveraging these clearances, and working through Medi-Launch, the Company signed four new international distributorship contracts for its RecoveryRx line. The sales team is in ongoing discussions with several firms that have an established presence in the consumer health space, to expand distribution in Europe and the MENA (Middle East and North Africa) region. 

The U.S. Securities and Exchange Commission recently announced that in September it will no longer allow the trading of “Pink No Information” and “Grey Market” stocks. Since BIEL reports on OTC Markets (https://www.otcmarkets.com/stock/BIEL/overview) and is up-to-date on its filings, the new SEC mandate does not impact BIEL.

Finally, the Company has received notification from the Small Business Administration, that the 2nd Payroll Protection Program Loan has also been forgiven in full.  The Company will recognize this forgiveness of debt as “Other Income” during the 3rd quarter.  

Disclosure

Certain information set forth in this email contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects, and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vii) renewal of the Company’s current customer, supplier and other material agreements; and (viii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.

These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.

Although forward-looking statements contained in this email are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

Contact: Paul Knopick

pknopick@eandecommunications.com

940.262.3584  


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