The burning question on everyones mind is ultimately what is the market potential for Biel? To understand the future we must understand the past so let us take some time to examine what is in the works for this company. First from a product standpoint they are attempting to market a non-medicinal pain relief patch for over the counter applications. This patch know as the acti patch uses a technology known as pulsed electromagnetic energy that reduces swelling by repairing tissue and clearing fluid from the damaged areas. The company filed a 510k application with the FDA in late June for the Allay Patch. This patch has been specifically targeted to the menstrual pain market. By the pre-determined guidelines of the FDA this product should reach a decison sometime by the end of September or mid October. Please keep in mind that with the FDA comes many delays and many missed excecution dates. We could banter for hours about their shortcommings however that will not change; for the sake of arugments we will just agree to deal with their innability to excecute in a timely manner. Biel has also recently filed a subsaquent 510K filing for the treatment of general musculoskeletal complaints. This was a very signifigant move by the company in my opinion. At one time that had considered and planned to file many different 510ks with the fda for specific ailments. The company in an effort to save time and to get to the market quickly compiled all ailments to one draft to the FDA. All of the pre-clinical studies have shown 100% safety and signifigant pain relief in double blind studies. The other piece of pertenent information for the marketablility of this product is the FDA's current stance on the use of Tylenol or specifically acetaminophen. There have been many studies linking to serious liver disease with regard to this product. This summer the FDA met specifically to discuss the future of this product and how its impact could be reduced. There is another scheduled meeting in October to discuss this matter. These products will never dissapear completely but the search for safe alternative pain relief is a big topic. Now to adress the burning question..where do they go from here. Since late june early july this stock has run from a range of about .02 to a high of .125 and settled into a recent trading pattern of .08 to .087. That many seem like quite a run but with these small securities when they break massive moves such as this one are not uncommon. What seems to be interesting as of late is that several pieces of news have sent the stock to the .12 range only to settle in the .09s and ultimately settling later in the .08s. There seems to be a ton of manipulation on level 2 trading from money managers keeping this one in a tight holding pattern and or slightly walking it down. If you follow any biotechs at all this tight pattern says one thing only..this is where we are until news from the FDA on the original application. There is quite a bit of accumulation in the .08s but big money is not letting this one break out until they get the news that they want. Where does pricing go if FDA approval comes? This is an impossible question in such a small speculative stock. The company has somewhere in the range of 1 billion outstanding shares. That isn't totally accurate and sometimes very difficult to pin exactly with the pinksheet companies. One of the more popular ways to get a target for small unprofitable companies is a price to sales ratio. Analyst have said that the market for this product is a billion dollars; I think that number is a bit low considering all its applications but we will use it. At 10% market penetration which is a low number would give an annual sales of 100 million dollars. At .50 biel would have a 500 million dollar market cap. That would roughly put a price to sales ratio of 5. That is not an ugly number for a small medical company. Now lets explore the unknown or psychological market factors. One it is impossible to determine the extent of the short position of this security. If it is big it could cause a more than normal massive surge forward if FDA approval is announced. Also if the first patch or 510k is approved because it is a medical device does the market automatically begin to price in future approvals from the FDA for different applications. This is the bottom line on a security such as this one, it is high risk high reward. If you drop a couple thousand in it tomorrow by November that could be 10-15 thousand. I could also be nothing. As always please always do your own research. As a disclaimer I am long BIEL at .064..Thanks and happy stock hunting!!