With the BIEL share price slipping back towards a penny after recently defying the falling market and running towards two, the company issued a press release last week introducing a new foot care product, the Smart Insole.
The product looks to have some major potential in the multi-billion dollar foot and heel pain market, having minaturized the technology down to a size small enough to fit in a gel insole. The product was introduced to investors back in March and was declared nearly "ready for launch" in Canada the following month.
The BIEL press release was vague in terms of the marketing strategy and availability of the Smart Insole, but if the company launches this product into the existing supply chains that ActiPatch and Allay have overseas, then this could turn into a boon for the company and for investors who have been long awaiting a potentially market-moving catalyst.
No catalyst could set the stock on a run on the scale that an FDA over-the-counter (OTC) approval for ActiPatch could, in my opinioin, but if a major partnership for the Insole did materialize - as the company hinted - earlier this year, then that might be enough to get this stock moving again to the north side of a nickel.
This little company has fallen victim to the FDA's "little guy" syndrome - a syndrome that results when the government's medical regulatory agency throws the little guy to the bottom of the pile and leaves him there for years - but little by little, progress has been made, and the potential is there for BioElectronics to finally pull it off.
The Smart Insole has more broad-market appeal, in my opinion, than the Allay patch, and possibly even the ActiPatch, so this will be a story worth watching as it develops.
Again, this latest press release was pretty vague, so investors are still guessing about the marketing strategy, but at least we know the product is now on sale. And it offers new potential to this penny play.
Disclosure: Long BIEL.
