BioElectronics Chairman updates investors on trials, potential legal action

BioElectronics Corporation releases an update from its Chairman, Richard Staelin, PhD. Clinical trials in progress: The company has two investigator sponsored clinical trials now in the field. The first is a surgical analgesia trial being conducted at the University of San Diego. This is a major double-blind, randomized assignment study, involving 120 post-surgical patients who have undergone one of eleven different types of surgery often associated with at least moderate pain. The second study is being conducted at Stanford University Medical Center and is focused on thumb arthritics using a modified version of the 088 model device designed especially for the use around the thumb joint. This double-blind, randomized controlled study will involve 60 subjects who are suffering from arthritic pain in the thumb area of the hand. Completed studies under peer review: There are two randomized controlled studies that have been completed. The first was an investigator sponsored study to treat chronic post-amputation pain with the nonthermal, pulsed shortwave therapy using the model 088 device. The second completed double-blind randomized controlled study looked at increasing the quality of life of canines suffering from symptoms of osteoarthritis. Possible Legal action: The Company is exploring entering into legal action against Mundi Pharma South East Asia for breach of contract. They signed a five-year contract in October of 2018 with BioElectronics Corporation, agreeing to purchase a minimum of approximately $14,000,000 worth of product from us over the next five years of the contract. However, they never completed the registration of the products into the five territories that granted them exclusive distributorship and only took ownership of a small amount of the inventory.