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Distribution - Sales in Europe and Asia are growing quickly and are easily outpacing the
US. Sales in Italy and South Korea have recently been very strong and the company's
products are being rolled out to other European Union countries as well. During 2007 the
company signed a significant number of distributors and currently has over 20 domestic
distribution partners. The company's distribution partners have recently set up several
websites to market the product to the general public, which is yielding additional revenue
Analyst Certification
growth.
I, Joseph Noel, hereby
certify (1) that the views Ongoing Medical Trials Are Expected to Yield Positive Results - The Company currently
expressed in this research has several ongoing trials targeted at receiving additional FDA indications. The company
company report accurately has recently announced that one of the leading plastic surgeons in North America will be
reflect my personal views heading studies in post-surgical care for breast augmentation and cesarean section.
about any or all of the
Additionally, this renowned surgeon will be heading studies in care of planter fasciitis,
subject securities or issues
which affects tens of millions of people around the world, and ankle sprains, which is one
reflected in this company
report, and (2) no part of my of the most common reasons for emergency room visits.
compensation was, is, or
will be directly or indirectly
Market Data
related to specific
recommendations or views
expressed in this company Market Cap (MM) $4.7
report. Shares Outstanding (MM) 117
Float (MM) 80
Dividend Yield n/a
52-Week Range $0.02-$0.12
As incredible as it sounds the treatment of soft tissue injuries The Product - ActiPatch™
has advanced very little over the past few millenniums. BioElectronics Corp. is the maker of the unique
When we get a cut, a bad bruise or a sprain we typically inexpensive, drug-free, anti-inflammatory patch
clean the wound, wrap it in some type of bandage to stop the designed to reduce pain and swelling (edema) and
bleeding and to prevent infection and then immobilize the accelerate healing. The product, called ActiPatch™,
injured part of the body. We then endure the pain and wait sells for approximately $40.00 and provides
while the body slowly recovers and heels. This process has treatment for about 30 days. It is FDA cleared. The
been standard operating procedure that has changed little in product is based on the same proven and highly
over a thousand years. effective office-based pulsed electromagnetic therapy
used for decades by physicians, therapists and
In the relatively recent past, the medical community figured
athletic trainers worldwide. The inventors of
out that the oral administration of certain chemical
ActiPatch have used state-of-the-art microelectronics
compounds, known as non-steroidal anti-inflammatory drugs
circuitry to shrink the technology into an expensive,
(NSAIDs), such as aspirin and ibuprofen for example, would
small, wafer thin, lightweight wearable patch that is
reduce the inflammation and pain. More recently, a new
worn next to the skin to effectively reduce swelling
class of NSAIDs, called COX-2 inhibitors, was introduced.
(edema) and significantly speed the healing process.
While aspirin and ibuprofen are mildly effective on some
The product as no known side effects.
types of pain there are certainly issues with both short-term
and long-term usage. The COX-2 inhibitors, such as The process by which ActiPatch works is complex
Celebrex® and Vioxx®, while initially billed as virtual and beyond the scope of this report, but put simply,
miracle cures, have now been proven to increase the chance the very small amount of electromagnetic energy
of heart attack and as a result, their use has been greatly produced by the patch breaks the cycle of
curtailed. For serious injury and pain there are a variety of inflammation caused by soft tissue injury allowing
opiate derived drugs that are very effective in treating pain, the body to speed up its own natural healing process.
but cause serious side effects including possible addiction. Acute sprains usually respond within hours of initial
Simply put, for those suffering from pain there are a few therapy and the healing time from cuts and bruises is
acceptable options. significantly reduced. Nagging aches and pains, such
as lower back stiffness or a sore foot are often
Why BioElectronics Corp.? eliminated in just a few days.
The questions for investors relative to these subjects are
simple. What if there was a drug-free method to speed the The research on the effectiveness of the technology
healing of soft tissue injuries and to reduce the associated on which this product is based is overwhelming and
pain? What if the US government's Food and Drug supported by multiple scientific studies.
Administration (FDA) and other health care related BioElectronics’ product has received FDA market
government agencies around the world cleared the clearance for the treatment of edema following
technology for use? What would the company that blepharplasty, has been approved by Health Canada
possesses this technology be worth? Finally, and most for relief of pain from all musculoskeletal complaints
importantly, what is the name of this company? and is widely available over-the-counter in
pharmacies across Canada. Additionally, the
We believe the answers to these questions are simple. Yes, European Union has granted the product its coveted
there is a drug-free, technology that speeds healing of soft CE Mark certification with the product widely
tissue injuries and significantly reduces pain. It is called available over the counter. Within the United States,
pulsed electromagnetic energy. Yes, the FDA has recently the product must be prescribed by a physician, but
cleared one company’s version of this technology. The this is likely to change over the coming year as
name of the company is BioElectronics Corp., which trades additional clinical studies are completed.
under the stock symbol BIEL. Finally, what are this
technology and this company worth? We believe both are For the past few years, BioElectronics Corp. has been
worth a lot. Read a little further and we will explain what working to bring its product to market and spent most
we are talking about. of 2007 revising its product and establishing its
distribution channels. The company now has more
than 70 domestic independent sales agents, over 20
Analyst Certification - I, Joseph Noel, hereby certify (1) that the views expressed in this research company report accurately
reflect my personal views about any or all of the subject securities or issuers referred to in this company report and (2) no part
of my compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in this
company report.
Analyst:
Joseph Noel is a 28-year veteran of the telecommunications and investment industries. Joe was recently a senior analyst at
Pacific Growth Equities, LLC, where he tracked the communications equipment/services and advanced industrial sectors.
Prior to Pacific Growth, he covered both the telecommunications equipment and services industries at Hambrecht & Quist and
was employed by Gartner/Dataquest as a communications industry analyst. Before becoming an analyst, Mr. Noel received
solid industry experience at a number of telecommunications carriers, including MCI, where he was responsible for the frame
relay product-marketing launch; and British Telecom, where he was involved in strategic planning for the company’s Internet
access service. He was also employed by various Bell Operating Companies in both marketing and technical roles for nearly
ten years. Mr. Noel received his MBA in finance from Wake Forest University, and holds a BS in business and economics. A
four-time Wall Street Journal All-Star Analyst, Joe specializes in emerging growth companies in the communications, Internet
and advanced industrial equipment sectors.
The coverage analyst uses a relative rating system in which stocks are rated as; BUY, SELL, or HOLD.
Stock Ratings:
BUY - the stock is expected to outperform the unweighted expected total return of the sector over a 12-month investment
horizon.
SELL - the stock is expected to underperform the unweighted expected total return of the sector over a-12 month time horizon
HOLD - the stock is expected to perform in line with the unweighted expected total return of the sector over a 12-month
investment horizon.
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in this research company report accurately reflect the analyst’s personal views about any or all of the subject securities or issuers referred to in this company report, and no part of the analyst’s or the firm’s
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