There has been no fresh news about BioElectronics Corporation (OTCMKTS:BIEL) for many weeks but the stock was in focus among investors yesterday nonetheless and ended the day with gains of as much as 8%. In this situation, it might be a good move from investors to perhaps take a look at a development from back on August 30 this year.
On the day, the company took the questions from the investing community with regards to its fiscal second quarter financial results into cognisance and provided clarifications regarding the same. The company reiterated that most of the key information were included in the footnotes of the second quarter financials document.
BioElectronics reiterated that the Chief Executive Officer went without pay and on top of that, the Chairman of BioElectronics actually put in more of his own money into the business. However, that was not all. As many as two significant lenders to BioElectronics did not collect the interest on their notes.
Perhaps more importantly, the company also reiterated that it did not issue any additional stock during the second quarter. These were some of the more important points that were clarified by BioElectronics at the time but it is unlikely that the clarifications had an effect on the rally yesterday.
