The BioElectronics company website was updated last week with the introduction of a new product.
The new 'Heel Pain Therapy Kit' will provide extended therapy and treatment for those suffering from heel pain, and comes embedded in a gel insole for daytime use and a night-time slipper for - you guessed it - the night time.
This is a nifty little gadget to go along with the other applications of the ActiPatch, but again we reach the issue of approval. It seems almost inane that the company would need FDA clearance for any of its devices, let alone this new foot pain product, when you can wrap an ab-belt around your waist and power electric volts through your system to point of having the wearer barrel over in pain if the settings are turned high enough, but such is the bureaucracy that we live in.
There was no mention of a path to approval included in the company's unofficial announcement for the new heel pain kit, but there was mention of BioElectronics anticipating a partnership with a "major foot care products company."
Given that the ActiPatch and Allay are already on the market overseas, the assumption should be that this will be an international partnership, should one actually materialize, but there's no doubt that a heavyweight foot care and/or shoe products company in the United States would have a better chance at pushing for approval of this product than BioElectronics would.
Again, such is the bureaucracy we live in - money, influence and lobbying talk - and the little guy walks.
BioElectronics is a little company playing in a big field, and there's no doubt that this fact influences how much attention the company's applications receive from the FDA and other regulatory agencies.
A first glance at the new product, however, shows that this one could be a winner from the start. BioElectronics has updated the design and packaging of all of its products to have a more professional 'look and feel,' and the update to the heel therapy kit looks to be a notch above the rest.
As for the partnership comment, just because the CEO "anticipates" a major partnership, it doesn't necessarily mean that one will materialize. These comments need to be taken with a grain of salt.
For comparison's sake, I'll note that the company has also anticipated an FDA approval in the United States for quite some time now, and that hasn't happened yet, so until we see the news hits the wires, then a partnership is only an "anticipation."
Just like the US FDA approval.
For a stock trading for just a penny, BIEL does hold some nice potential - whether it be for a long term play or a short term trade - but there needs to be some major movement in the international market this year to offset the snail's pace of US approvals.
There's been a lot of talk about the successful advertising campaigns in Canada and the UK, but we've yet to see if that's translated into sales.
Stay tuned for the quarterly report.
Disclosure: Long BIEL.