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BioElectronics Corporation (OTC PINK:BIEL) announced that its largest lenders, Ibex LLC and St. John’s LLC, have agreed to forgo interest on convertible debt notes for the third consecutive year, saving over $1.5 million. The company is engaged in several research projects, including the use of pulsed short-wave therapy (PSWT) to treat psychological disorders, a study on arthritis in dogs, and exploring pain relief for chronic wounds. BioElectronics aims to expand its technology's use for various chronic pain disorders, signaling ongoing commitment to research and development.
BioElectronics Corporation (OTC: BIEL) reported a remarkable 463% year-over-year revenue growth for the third quarter of 2021, leading to profitability. Sales revenue for the nine months ended September 30, 2021, reached substantially higher levels compared to the previous year. The firm also noted a deferred revenue of $256,398, indicating future sales potential. Expansion efforts include the launch of KT Recovery+ Wave in the UK and partnerships in Australia, Korea, and Bangladesh. The company is also advancing its brain stimulation project in collaboration with Binghamton University.
BioElectronics Corporation (OTC: BIEL) announced that Dr. Sree Koneru will present at the Pain Management Investor Forum today, October 7, 2021, at 1:00 PM EST. The presentation will include a 20-minute discussion of the Company's operations and financial standing, followed by a 20-minute Q&A session with Gregory Aurand of Noble Capital Markets. Interested parties can access the presentation by registering for free at Channelchek. The webinar will also be archived on Channelchek and its YouTube channel.
BioElectronics Corporation (BIEL) reported a significant 665% growth in revenue for the six months ending June 30, 2021, compared to the same period in 2020. Despite a decrease in Q2 sales from Q1, the company noted deferred revenue of $555,000. The CEO's unpaid tenure continues, and the chairman made additional investments. Products featuring BIEL’s technology are now available at major retailers like CVS and Walgreens. Additionally, the forgiveness of the second Payroll Protection Program Loan will be recognized as income in Q3. BIEL is well-positioned for international expansion.
BioElectronics Corporation (BIEL) reported strong Q1 2021 results with sales reaching $605,675, an 18% increase from Q4 2020, comprising 73% of total 2020 revenue. The increase is attributed to the strategic repositioning as an OEM manufacturer and includes over $306,000 in deferred sales. The company is advancing partnerships in OTC and prescription markets with positive consumer feedback and has re-acquired its CE mark and obtained MDSAP certification, expanding international distribution. Continued investments in R&D and manufacturing are also underway.