NYC Cocktail Party by Joe Noel and Simon : UPDATE

Contributor : pbar673874

I did go to the event tonight in NYC, and it honestly wasn’t that special. Below are the highlights of what I heard:

• Joe said that the dilution was necessary in order for them to pay off the “toxic debt,” but they now have enough cash he thinks. They are currently completing the audit, and once this is done we should get a good idea of the cash position. He doesn’t think further dilution is necessary at this point.

• The commericals have been completed, and Joe says they are pretty good. Once they find out about the FDA approval, the commericals will be aired ASAP.

• For sales, Joe thinks that the best thing for them at this point is to do infomercial sales. Besides that, they think it’s going to do well in the stores. The international sales have also been good.

• The million dollar question is approval, and they still don’t know when it is going to arrive. The one thing he did say is that actipatch should be approved before allay. They don’t see any problems or risks of approval w/ the allay approval, but the FDA is asking more questions due to the application location. Joe doesn’t agree w/ this since it is approved for the eye. Even tho the approval can come at ANY moment, they are guessing it will be a couple more weeks.

• Joe says that he can sell his shares at any moment, but he still has them and more $$ invested in the company. He said that he has been w/ them from the start and has helped fund them when they ran out of cash. Joe definitely gets a bad rap, but he truly does seem to believe in biel and the future success of the company.

• Biel wants to get off the pink sheets, and they are hoping to get this done over the next few weeks. One of the ways that Joe said this could be done is by finding a dead company on the BB that is still there and spin off w/ them. I have seen this before with IVOB.OB. They are a fertility company that was formely a salsa company. There was another way that I can’t think of at the moment. Biel wants to be viewed as a legit company, and this is why they are having the audit happen so they can quiet the bashers. This audit will shut everyone up and prove they are a legit company.

• Even tho I don’t believe him, Simon thinks that biel is going to eventually get bought out for $1 even with the o/s being 1.5billion. I think this is rather agressive and unrealistic.

• Both Joe and Simon are annoyed about the bleeding of the stock, but they said there was been a ton of shorting whihc was scrwed biel over. Overall they say were going to be fine.

Overall it really wasn’t a big showing, but it was rather nice to finally meet Joe. For all the crap he takes on the MB’s, he does seem like a really nice guy. I did enjoy making fun of him about how ever since PR he puts out turns the stock from green to red. The one thing he did tell me that is if people do have questions, just call him or andrew. Sorry if this is not what you were expecting, but there were other people jumping in while we were talking, so not everything was answered fully.

This is just what I remeber do please don’t go buying/selling based on this summary. Just so it’s all out on the table, i’m long 260K shares.

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Contributor: videoai/Jo

Hi this is Jo from NYC.
I met Joe Noel, Simon & other investors. I was only one didn’t wear black suit with tie ^ ^.There was no official announcement at the meeting. 20-30 suits & me were standing in a hall, drinking while chatting about BIEL. And I had a chance to talk to Joe for an hour.

Asked some questions to JOE and SIMON.

1. Why did Google show (NDA) after name of Bioelectronics Corp last 2 weeks? What does 3M company to do with BIEL?
Joe - ‘No idea. Maybe New Drug Applications.’ (seems he doesn’t want to tell me anything.)

2. After clearing FDA, when Allay patch will be available in USA?
Joe - ‘Allay patches are already shipped in here. Just waiting for the time comes.’

3. In September Biel submitted 510K. What was the ‘Multiple applications of Actipatch ‘ about?
Joe - ‘It was 5 body parts of Muscular pain patch applications in one.’
Means, one ActiPatch 510K clearance will allow to sell 5 products in USA.

4. What is story with Audit?
Joe – ‘Simply BIEL wants to move bigger market; OTCBB. In 2 weeks the result of Audit will come out in public.’

5. After Audit do you need SEC first to move to OTCBB? Usually does it take two months for SEC, right?
Joe - ‘Not necessary need to file SEC to jump to OTCBB. There is other way as well.’ (not clear what he said after this. Seems like after the Audit result, BIEL will rush to move up. ^ ^)

6. Since ActiPatch was received FDA Clearance before, this FDA application result might come out earlier than usual? Some people in Yahoo BM said so.
Joe - That’s not right. Have to wait same as other applications; FDA 510K CLASS III! (He mentioned only class III, not Class II at all.)

7. When does Tylenol Study out?
Joe - ‘result out, announce soon’.

8. Depends on study result, there is any possibility Tylenol company (J&J?) might sue BIEL?
Joe - We have a study result. They can not sue us.

Question to Simon —
*What to to with Goldman Sachs with BIEL?
Simon – ‘They are one of majority share holder of BIEL.’

This is what I can say about the BEER meeting – I drank beers only ^ ^. I didn’t find Sully or other families names over there. Everyone wore black suit and had no name tag on it.

I felt, BIEL is a time to move up!

JO